I am dam curious after months of What’s It Worth why or how is anyone considering buying right now?
I mean anyone. Right now. This minute. With all that has preceded now and what is yet to pass that we know must pass and has been delayed through duress and favor.
Is this not the most surreal economic lull you’ve ever lived through?
It’s hard to know if you’ve never lived through one such as this.
It might be the first its but it feels like a political economic honey trap with a terrible sting about to come.
I even heard tell of extended family members who already have a few mortgages now having taken on another mortgage for their primary residence its becomes curiouser and curiouser.
I would find it impossible, if charged, to make any long term decisions that meant tightening the noose around ones neck financially and geographically, despite all the usual societal or biological pressures we are in epic times. Particularly if asked in relation to buying a house my only response would be “eh 3 Bed semi 160K”, to see the response. I’ve already fired it out a few times and its revealed DENIAL.
So is that just the pseudo stability or is stability always pseudo. (rhetorical))
In my view until the next few months are out of the way and yes that means the Bank guarantee switch off (or whatever happens), it won’t be totally clear to everyone, but when that really happens then it more acutely shapes the collective perception of reality and thus you can be even more assured of the state of play.
I’m noticing rents are starting to break through levels I thought they would have 2 years earlier but didn’t and its a sign of further stress, they may about to dive again in a bad way for landlords. Stats may prove me wrong but its my cursory reading from recent sampling. I am sure there are a few properties I have viewed have been vacant for 2 years at this stage.
Multiply all the pinsters who are leaving as a broad trend and a pulse may be hard to find to the body economic within much time at all.
OW looks nervously left, then right as he awaits the straw astride the camels back
Draw back, draw in, from your strategy of one but whatever you do don’t draw down just yet.
'tis my tuppence worth