Demitri_C Posted June 9, 2020 Share Posted June 9, 2020 Whats everyone think will happen to the housing market? They were saying its going to collapse but where i am in london its really booming again. Was expecting it ti be very quiet but the opposite is happening it seems as i guess the lock down has made people think they want more from a house Link to comment Share on other sites More sharing options...
OutByEaster? Posted June 9, 2020 Moderator Share Posted June 9, 2020 32 minutes ago, Demitri_C said: Whats everyone think will happen to the housing market? They were saying its going to collapse but where i am in london its really booming again. Was expecting it ti be very quiet but the opposite is happening it seems as i guess the lock down has made people think they want more from a house I think in London house prices are to an extent dependent on people who don't live in those houses. If the big investment funds feel they can get value out of London property, London property prices will hold up. In the rest of the country where there are a higher proportion of houses owned by people to live in then I think we'll see them go down. 1 Link to comment Share on other sites More sharing options...
chrisp65 Posted June 9, 2020 Share Posted June 9, 2020 Would be interesting to overlay a map of Brexit voting. Link to comment Share on other sites More sharing options...
OutByEaster? Posted June 10, 2020 Moderator Share Posted June 10, 2020 I think we'll see a little bit more of the distancing between the living economy, where you and me and our wages and mortgages live, and the speculative market economy where lots of trading instruments and banking devices live - I think the markets are becoming better able to withstand this type of event because the money that exists in the real world is becoming a smaller part of the economy they live in. Link to comment Share on other sites More sharing options...
LondonLax Posted June 10, 2020 Share Posted June 10, 2020 The stock markets are propped up on government stimulus which leads to stories like the lady below. If there is ever an unwinding of this stimulus it could cause problems for the markets. Link to comment Share on other sites More sharing options...
blandy Posted June 10, 2020 Moderator Share Posted June 10, 2020 49 minutes ago, LondonLax said: problems for the markets. These are certain, IMO. The last crash in 2007/8 was nowhere near as badly set up as it is now. There are going to be absolutely massive problems within a year. Link to comment Share on other sites More sharing options...
Xann Posted June 10, 2020 Share Posted June 10, 2020 Quote Coronavirus: UK economy could be worst hit among leading nations, says OECD The UK is likely to be the hardest-hit by Covid-19 among major economies, a leading agency has warned. Britain's economy is likely to slump by 11.5% in 2020, outstripping falls in other developed economics of Germany, France, Spain and Italy, it said. If there were a second peak in the pandemic, the UK economy could contract by 14%. The Organisation for Economic Co-operation and Development described the impact as "dire" everywhere. In its latest assessment, the OECD found that the trade, tourism, and hospitality sectors, which make up large parts of the UK's service-based economy, have suffered under lockdown restrictions introduced by the government. BBC Tory Brexit yet to come to the West Mids. 1 Link to comment Share on other sites More sharing options...
Demitri_C Posted June 10, 2020 Share Posted June 10, 2020 On 09/06/2020 at 14:10, OutByEaster? said: I think in London house prices are to an extent dependent on people who don't live in those houses. If the big investment funds feel they can get value out of London property, London property prices will hold up. In the rest of the country where there are a higher proportion of houses owned by people to live in then I think we'll see them go down. Id agree with this. Prices haven't dropped here yet. Not really seeing the effects here yet barring job losses 1 Link to comment Share on other sites More sharing options...
Genie Posted June 10, 2020 Author Share Posted June 10, 2020 1 hour ago, Demitri_C said: Id agree with this. Prices haven't dropped here yet. Not really seeing the effects here yet barring job losses I think as we go into the collapse house prices might not drop so much because supply and demand will both come down together. Link to comment Share on other sites More sharing options...
Genie Posted June 15, 2020 Author Share Posted June 15, 2020 Quote Jaguar Land Rover (JLR) is set to cut the number of contract-agency workers its employs on its factory floors following a drop in sales. It has not confirmed how many roles are affected but it reported a loss of £501m before tax in the final quarter of its financial year. JLR said the decision was made "against the backdrop of the Covid-19 pandemic". The Coventry-based car-maker has plants across the UK, including Castle Bromwich, Solihull, and Halewood. JLR, which is owned by India's Tata Motors, had beenin talks with the government to secure a loan of more than £1bn. But the company said it has "taken the difficult decision to reduce the number of contract-agency employees in its manufacturing plants over the coming months". It is understood that potentially up to 1,100 temporary roles are at risk. Hope it doesn’t impact any on here Link Link to comment Share on other sites More sharing options...
Brumerican Posted June 15, 2020 Share Posted June 15, 2020 Frightening stuff because my fall back career is the NBA. Link to comment Share on other sites More sharing options...
Genie Posted June 15, 2020 Author Share Posted June 15, 2020 10 minutes ago, Brumerican said: Frightening stuff because my fall back career is the NBA. This surprises me because everywhere I go people are getting work done on their houses and gardens. Tradesmen I know are rushed off their feet. Link to comment Share on other sites More sharing options...
NurembergVillan Posted June 15, 2020 Moderator Share Posted June 15, 2020 On 09/06/2020 at 20:51, chrisp65 said: Would be interesting to overlay a map of Brexit voting. It would! I'm gonna do it using this one. Hang one minute! 1 Link to comment Share on other sites More sharing options...
Brumerican Posted June 15, 2020 Share Posted June 15, 2020 15 minutes ago, Genie said: This surprises me because everywhere I go people are getting work done on their houses and gardens. Tradesmen I know are rushed off their feet. We are struggling to get stock from our suppliers. It's the Bat-terfly effect. Half the country will be on Universal Credit by Christmas. Link to comment Share on other sites More sharing options...
NurembergVillan Posted June 15, 2020 Moderator Share Posted June 15, 2020 Total bodge job, but the results come out exactly as you'd expect, sadly. 2 Link to comment Share on other sites More sharing options...
Xela Posted June 16, 2020 Share Posted June 16, 2020 20 hours ago, Brumerican said: Half the country will be on Universal Credit by Christmas. It'll be grim. 9m on furlough at present. 9m won't be going back to work. Once furlough ends then it'll start crumbling. I'm seeing desperate signs in certain sectors at work at the moment. 1 Link to comment Share on other sites More sharing options...
Brumerican Posted June 16, 2020 Share Posted June 16, 2020 Just now, Xela said: It'll be grim. 9m on furlough at present. 9m won't be going back to work. Once furlough ends then it'll start crumbling. I'm seeing desperate signs in certain sectors at work at the moment. And the worst of it is money is something we made up. The suffering is going to be very real. 2 Link to comment Share on other sites More sharing options...
Davkaus Posted June 16, 2020 Share Posted June 16, 2020 (edited) 15 minutes ago, Xela said: It'll be grim. 9m on furlough at present. 9m won't be going back to work. Once furlough ends then it'll start crumbling. I'm seeing desperate signs in certain sectors at work at the moment. And the government are encouraging people to get out there and start shopping. If you're fortunate enough to still be earning, it's time to tighten your belts and make sure you have an emergency fund, 2008 is going to look like nothing compared to this, we're on the cusp of the second great depression, imo. Edited June 16, 2020 by Davkaus 1 Link to comment Share on other sites More sharing options...
Xela Posted June 16, 2020 Share Posted June 16, 2020 5 minutes ago, Davkaus said: And the government are encouraging people to get out there and start shopping. If you're fortunate enough to still be earning, it's time to tighten your belts and make sure you have an emergency fund, 2008 is going to look like nothing compared to this, we're on the cusp of the second great depression, imo. Absolutely. I'm earning, have an emergency fund and i'm still spending less! I just think some people are unable to save, its like an addiction to spending all your money straight away. Earn more , spend more. I see people at my place on good salaries who are skint by week 3 of the working month and waiting for payday. Something wrong there. 1 Link to comment Share on other sites More sharing options...
KentVillan Posted June 16, 2020 Share Posted June 16, 2020 32 minutes ago, Xela said: It'll be grim. 9m on furlough at present. 9m won't be going back to work. Once furlough ends then it'll start crumbling. I'm seeing desperate signs in certain sectors at work at the moment. Me too. Getting increasingly angry with people who try to downplay it. Link to comment Share on other sites More sharing options...
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