How far will house prices fall [volume 5]

[pti]

okgo said:

UpBeats said:

Im sure they are but its not our job to take all these people. Why can they not stay in their homelands. This country has far too many immigrants already. Natives cannot afford decent housing as it is.

Be quiet you simple person.

[UpBeats]

okgo said:

Be quiet you simple person.

They are not at threat of genocide. This is just more deliberate immigration under false pretences to attempt to prop up falling flat prices in london.

[ChocolateFrog]

PrinceRupert said:

AyBee said:

https://www.standard.co.uk/business/house-prices-n...

Colour me shocked, house prices dropped a little following a period extended lockdown. We are at the bottom of the V ...

[wisbech]

Andy20vt said:

. . . . and BOOM, exactly as I mentioned a few weeks ago. Great news the the UK Government are doing the right thing.

https://www.bbc.co.uk/news/uk-politics-53246899

I wonder though where all these people are going to live? Even high end London property will seem cheap for these guys where the average house price (mostly apartments) in Hong Kong hit $1.2 million last year.

Um, the HK property market is 50% public housing, with rents that by law can only be 10% of the median family income and no right to buy. So expect that at least half of those moving will have no housing equity in HK to bring over.

[anonymous-user]

Andy20vt said:

You've never been to Hong Kong then I take it? Great place and it's people are polite, well educated, commerce focused and would fit in well with the UK way of life.

Yup, work ethic would put most Brits to shame.

[wisbech]

Andy20vt said:

You've never been to Hong Kong then I take it? Great place and it's people are polite, well educated, commerce focused and would fit in well with the UK way of life.

LOL. I have HK permanent residency. Calling HK people polite is laughable. Maybe you got it mixed up with Tokyo? HK’ers make Parisians seem polite...

[gibbon]

UpBeats said:

Im sure they are but its not our job to take all these people. Why can they not stay in their homelands. This country has far too many immigrants already. Natives cannot afford decent housing as it is.

Wow, just wow. Moronic at best.

Edited by gibbon on Wednesday 1st July 15:59

[p1stonhead]

pti said:

okgo said:

UpBeats said:

Im sure they are but its not our job to take all these people. Why can they not stay in their homelands. This country has far too many immigrants already. Natives cannot afford decent housing as it is.

Be quiet you simple person.

[Zstar]

wisbech said:

Andy20vt said:

. . . . and BOOM, exactly as I mentioned a few weeks ago. Great news the the UK Government are doing the right thing.

https://www.bbc.co.uk/news/uk-politics-53246899

I wonder though where all these people are going to live? Even high end London property will seem cheap for these guys where the average house price (mostly apartments) in Hong Kong hit $1.2 million last year.

Um, the HK property market is 50% public housing, with rents that by law can only be 10% of the median family income and no right to buy. So expect that at least half of those moving will have no housing equity in HK to bring over.

Quite. It’s not Singapore where home ownership is about 80%.

But if you want some industrious hard working people to bolster the uk economy after Brexit then they fit the bill perfectly.

[PrinceRupert]

UpBeats said:

They are not at threat of genocide. This is just more deliberate immigration under false pretences to attempt to prop up falling flat prices in london.

You genuinely think that an offer of citizenship to the people of Hong Kong is in fact underpinned by a desire to prop up London property prices? Really?

[UpBeats]

PrinceRupert said:

You genuinely think that an offer of citizenship to the people of Hong Kong is in fact underpinned by a desire to prop up London property prices? Really?

Yes. The govt will do anything to prop up house prices. It also loves gimmegrunts as they prop up gdp one way or another.

[anonymous-user]

PrinceRupert said:

UpBeats said:

They are not at threat of genocide. This is just more deliberate immigration under false pretences to attempt to prop up falling flat prices in london.

You genuinely think that an offer of citizenship to the people of Hong Kong is in fact underpinned by a desire to prop up London property prices? Really?

Not sure it has anything to do with London property prices, just a desire to do the right thing by the people of Hong Kong. The side effect though could be a boost to London property and also the UK economy.

[Earthdweller]

Andy20vt said:

UpBeats said:

Andy20vt said:

. . . . and BOOM, exactly as I mentioned a few weeks ago. Great news the the UK Government are doing the right thing.

https://www.bbc.co.uk/news/uk-politics-53246899

I wonder though where all these people are going to live? Even high end London property will seem cheap for these guys where the average house price (mostly apartments) in Hong Kong hit $1.2 million last year.

Thats all we need. 300k chinese. BJ has lost the plot. Hopefully the HK govt will stop them leaving with assets.

You've never been to Hong Kong then I take it? Great place and it's people are polite, well educated, commerce focused and would fit in well with the UK way of life.

A lot of them are Anglo-Chinese rather than ethnic Chinese and up until the early 80’s had full British passports until HMG changed their status

Many are very seriously wealthy, entrepreneurial and industrious

They would be an asset to the U.K. which had in many ways abandoned them

[ooid]

Andy20vt said:

Great place and it's people are polite, well educated, commerce focused and would fit in well with the UK way of life.

Yup, they are great people indeed but I think for all those positive reasons, they would not fit in well with the U.K. way of life, sadly...

[menousername]

whatleytom said:

Dividing by households is just arbitrary though. UK Saving's ratios are c.5-6% of disposable on average and has increased to 9% for Q1 '20, that number will be significantly larger through Q2. £25bn in one month is a monumental number when you consider the long term average growth rate is somewhere in the region of £3-4bn. The pool of potential savers is also vastly below just using number of households as an abitrary denominator, not to mention very active savers tend to be in a very tight age range from mid-late 40s through to mid 60s.

And the net debt is absolutley households paying down debt, at the fastest rate on record. unsurprisingly.

Edited by whatleytom on Wednesday 1st July 15:02

I disagree -with respect. Don't get me wrong its good to see but it is insignificant and that is why it is essential to divide it by the relevant numbers.

Quick google so forgive me there -
Number of uk households approx 27/28 million
Number of UK adults approx 48 million

So let’s assume the increase in deposits is spread across 48 million adults in varying degrees - you are getting approx £550 per adult.

Some may have saved a few k. Some may have saved a few tens of k. For each that did thats another adult that saved less / nothing.

Its good - but its not as great as the headline figure suggests.

[UpBeats]

What is anglo chinese? They are ethnically chinese or anglo saxon which is it? If they were white they would have uk passports

[PrinceRupert]

UpBeats said:

What is anglo chinese? They are ethnically chinese or anglo saxon which is it? If they were white they would have uk passports

I didn't realise being white was a requirement for a UK passport?

[p1stonhead]

PrinceRupert said:

UpBeats said:

What is anglo chinese? They are ethnically chinese or anglo saxon which is it? If they were white they would have uk passports

I didn't realise being white was a requirement for a UK passport?

That’s a cheeky little rule I hadn’t heard of either!

Is Breitbart leaking?

[NickCQ]

UpBeats said:

What is anglo chinese? They are ethnically chinese or anglo saxon which is it?

The word "anglo" in this context doesn't refer to being Anglo-Saxon (which basically no-one can claim to be today). The point is that Hong Kong's residents have lived under a system that is to some degree "British".

[whatleytom]

menousername said:

I disagree -with respect. Don't get me wrong its good to see but it is insignificant and that is why it is essential to divide it by the relevant numbers.

Quick google so forgive me there -
Number of uk households approx 27/28 million
Number of UK adults approx 48 million

So let’s assume the increase in deposits is spread across 48 million adults in varying degrees - you are getting approx £550 per adult.

Some may have saved a few k. Some may have saved a few tens of k. For each that did thats another adult that saved less / nothing.

Its good - but its not as great as the headline figure suggests.

Why do have a fascination with dividing these numbers by other entirely irrelevant numbers? £25bn is a record-breaking level by multiples.

Of those UK adults, only 33 million are actually employed (pre lockdown) for starters, if the average salary in the UK is £28k that's on average folk saving 41% of their take-home.