Economic Depression

I think it's ridiculous how some people have reacted. Stocking on toilet paper as if that's a life necessity - even buying food like milk in bulk which is stupid.

"The rich are buying shares and the poor are buying toilet paper"

You can freeze milk, to be fair.

But yeah, being able to get supplies from the supermarket is not near the top of the list of concerns at the minute. It really does go to show how quickly people batten down the hatches and consider their own interests above all else.

There will inevitably be bailouts for certain industries. The U.S. is already pumping £700bn on quantitative easing and dropping interest rates.

comment by Redinthehead - FreeGaza - فلسطين (U1860)
posted 1 hour, 32 minutes ago
comment by Boss By Hugo (U18550)
posted 55 seconds ago
Was close to putting a bid for first home but pulled out as didn't really fancy it enough and will now be waiting to see what happens to property market... a couple have already come down in asking price
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To be absolutely brutal, considering the impact over the economy you would be better waiting for 3 months before deciding.

This will allow you to :
a) take advantage of the new low rate mortgages that will come off the back of the BoE rate coming down
b) ensure you won’t be in negative equity as the economy looks like it will fall off a cliff shortly

Sorry to anyone selling a house ..
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Well that depends on your circumstances. For example, if you are buying but intend to sell later on then yes you are right. But, in my scenario I don't see any impact:

My buyers are currently renting and are 1st time buyers.

The house I am buying is my "forever" home. The rate on my new mortgage is fixed at 1.26

comment by Boss By Hugo (U18550)
posted 1 hour, 50 minutes ago
Was close to putting a bid for first home but pulled out as didn't really fancy it enough and will now be waiting to see what happens to property market... a couple have already come down in asking price
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I'm in the same situation. Was just talking about this with the wife last night. We are waiting for our current house being valued, so I'm not sure if we will see any benefit.

comment by Boss By Hugo (U18550)
posted 1 hour, 45 minutes ago
I think it's ridiculous how some people have reacted. Stocking on toilet paper as if that's a life necessity - even buying food like milk in bulk which is stupid.

"The rich are buying shares and the poor are buying toilet paper"
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So in the year 2021 a Freddo will be worth 18 toilet rolls

Euros postponed till 2021

I’m on a nice contract til October 22 and looking to buy so the economic crisis couldn’t come at a better time for me. My job is going to be severely effected by this Coronavirus domino effect so I’m hoping for a juicy redundancy package if it comes to that.

https://www.thelondoneconomic.com/news/coronavirus-uk-chancellor-pledges-330-billion-pounds/17/03/

Woah.

Pledge doesnt mean anything. It is like me saying I am giving up booze in january