topic Re: Brexit in The Round Table

Brexit

guitarsandwoods — Tue, 31 May 2016 20:57:48 GMT

Hello everyone,

I searched the forums about this and did not find anything, and I believe it is an interesting subject to dscuss, as the referendum approaches.

I know it can be a touchy subject, but I wonder what your thoughts about it? Will it change in any way the relationship with the European Union? Can this subject harm or benefit your business?

Disclaimer: I am not interested in anything political side of the issue, only the economic side.

Thank you.

Re: Brexit

mikes*corvettes — Tue, 31 May 2016 21:51:57 GMT

It's been done already.

http://community.ebay.co.uk/t5/Seller-Central/If-the-UK-leaves-the-EU/m-p/4845341#U4845341

Re: Brexit

Anonymous — Tue, 31 May 2016 22:00:54 GMT

And we'll all be done again whatever the outcome.

Just my personal opinion of course.

Re: Brexit

theelench — Wed, 01 Jun 2016 08:02:43 GMT

And mine.

Re: Brexit

bristolsoapmaker — Wed, 01 Jun 2016 10:50:15 GMT

I can't tell you how it'll affect eBay sales, but I can tell you that despite the value of my house rocketing for the first half of the year, it is now starting to drop and the market is becoming a little unstable.

I've been told by 4 different agents now that people are getting cold feet with the uncertainty, so selling your house - particularly this month may be a nightmare! So possibly don't try and move house over the next few months like I am.

If we do leave then I was told the expectation was that the market (likely) cool off for some time as people won't want to move while it's clear what would happen financially and, as a result, the value of my house will likely fall. *sad face*

If that does happen and my house price falls as a result, it will be the second time that a recession has cost me dearly on my house. *cries*

So over the last 6 years my house value has increased £65k, but is expected to lose around £20 - 30k should we leave. *cries again*

If we don't leave then I was told that they still expect the market here to cool off and fall sightly, but not as much.

Obviously that's just in reference to one particular region of the UK, so whether that would be nation-wide, I couldn't say.

Re: Brexit

the-layer-laboratory — Wed, 01 Jun 2016 10:57:04 GMT

@bristolsoapmaker wrote:
I can't tell you how it'll affect eBay sales, but I can tell you that despite the value of my house rocketing for the first half of the year, it is now starting to drop and the market is becoming a little unstable.

I've been told by 4 different agents now that people are getting cold feet with the uncertainty, so selling your house - particularly this month may be a nightmare! So possibly don't try and move house over the next few months like I am.

If we do leave then I was told the expectation was that the market (likely) cool off for some time as people won't want to move while it's clear what would happen financially and, as a result, the value of my house will likely fall. *sad face*

If that does happen and my house price falls as a result, it will be the second time that a recession has cost me dearly on my house. *cries*

So over the last 6 years my house value has increased £65k, but is expected to lose around £20 - 30k should we leave. *cries again*

If we don't leave then I was told that they still expect the market here to cool off and fall sightly, but not as much.

Obviously that's just in reference to one particular region of the UK, so whether that would be nation-wide, I couldn't say.

Out of interest, are you selling up and planning on living in a tent for the rest of your days? I'm assuming not and that you are buying another property at the same time as you sell. Why the obsession with house prices when it is primarily a home and not an investment vehicle?

Re: Brexit

theelench — Wed, 01 Jun 2016 11:10:47 GMT

Because of the amount of equity you carry forward to the next property?

Re: Brexit

mikes*corvettes — Wed, 01 Jun 2016 11:23:17 GMT

The price of the next property would also be reduced so it's the same thing. In my area houses at the moment go for £750k plus, in all honesty I would be happy if they sold for £250k at least the kids who grew up here would have a chance of buying and not be forced to move away.

Re: Brexit

bristolsoapmaker — Wed, 01 Jun 2016 11:28:11 GMT

I think most people see their homes as an investment: you hope that you make money on the value appreciating. Unless you're happy to live in the same place for the rest of your life and pay out the same value mortgage on something that was only losing money. I want my house price to go up as it then potentially helps me buy a bigger and nicer home. 🙂

I personally wouldn't spend £350 - 400k on something thinking that the value in a years time would be much less than I paid for it: it makes no sense to, you'd just wait for the price to fall to its minimum and then buy. That's why the saying is "buy low, sell high" - that's how you make money. It may not be economics that people enjoy, but it's the general principle for most things.

I wouldn't buy 200 gold watches to sell on eBay for £200 a time to sell them at £100 a time.

Same applies to the value of my house: why should I be happy that the value of my home is potentially going to lose tens of thousands of pounds?

So just because you can go and live in a tent in the middle of nowehere doesn't automatically mean that anyone should be happy about it - but if you're perfectly happy to do that, then I hope you don't find it too cold in winter, I'd rather have my lovely radiators.

I am just telling people the position I am now in, and the advice I have been given; no one has to pay any attention to it. 🙂

Re: Brexit

bristolsoapmaker — Wed, 01 Jun 2016 11:32:02 GMT

Actually, no. The price of the property where I want to buy is (frustratingly) still expected to go up as it's a city which is under massive development and improvement.

I say go 'up' - that is a little uncertain - it's more likely that it won't fall as much as the area I live in now. So in terms of ratio, the difference in value becomes wider and thus costs more. 🙂

Re: Brexit

hicburp — Wed, 01 Jun 2016 11:41:49 GMT

If the UK decides to stay in the EU ... my first action is to nip down the local bookies,

and put a bet on that we will see the return of conscription within the next 10 years.

Re: Brexit

the-layer-laboratory — Wed, 01 Jun 2016 11:43:27 GMT

@bristolsoapmaker wrote:
I think most people see their homes as an investment: you hope that you make money on the value appreciating. Unless you're happy to live in the same place for the rest of your life and pay out the same value mortgage on something that was only losing money. I want my house price to go up as it then potentially helps me buy a bigger and nicer home. 🙂

I personally wouldn't spend £350 - 400k on something thinking that the value in a years time would be much less than I paid for it: it makes no sense to, you'd just wait for the price to fall to its minimum and then buy. That's why the saying is "buy low, sell high" - that's how you make money. It may not be economics that people enjoy, but it's the general principle for most things.

I wouldn't buy 200 gold watches to sell on eBay for £200 a time to sell them at £100 a time.

Same applies to the value of my house: why should I be happy that the value of my home is potentially going to lose tens of thousands of pounds?

So just because you can go and live in a tent in the middle of nowehere doesn't automatically mean that anyone should be happy about it - but if you're perfectly happy to do that, then I hope you don't find it too cold in winter, I'd rather have my lovely radiators.

I am just telling people the position I am now in, and the advice I have been given; no one has to pay any attention to it. 🙂

It's somewhat of an over-simplification, but your house is worth exactly 'one house' whenever you want to sell it. Only if you buy and sell property as commodities is it ever relevant, or if you plan on selling up and doing something else with the money.

Re: Brexit

notinbidensgarage — Wed, 01 Jun 2016 11:45:43 GMT

What have British Rail left?

Re: Brexit

theelench — Wed, 01 Jun 2016 11:55:04 GMT

Exactly what I meant. I moved out of London thinking the diferential would stay the same and I would be able to move back again later if I wanted. The house I sold is probably "worth" a million now, my flat here has probably "only" doubled in price so I'd need several more to go back.

Re: Brexit

bristolsoapmaker — Wed, 01 Jun 2016 12:13:59 GMT

Well, if you're the kind of person who can afford to think in terms of 'buy high and sell low' and is perfectly happy to (potentially) lose £20-30k on the value of something - that's great; I only wish I were in that situation.

I'd skip to the shops and back if I were in that kind of financial situation. lol 🙂

I'm not sure that you can over-simplify a fact: the fact is, that is the situation I (and others) are starting to find themselves in, and that is the advice we are being given.

You don't have to pay any notice to my situation, but it doesn't change that it is what it is.

Re: Brexit

bristolsoapmaker — Wed, 01 Jun 2016 12:18:01 GMT

I don't mean to have a huge debate about it.

It is a factual situation that I have found myself in: I am finding it hard to move house, my house value is expected fall (how much by may linger on which way the vote goes), and that interest in the market is becoming slower again.

As the place I want to move to is not expected to fall so much (if at all), it just makes that further out of reach and more expensive for me.

I'm not happy that I may lose all that money: if there are some people not bothered by it, that's great for them. I'm too poor to afford to lose the kind of equity that I am on about! *cries*

Re: Brexit

Anonymous — Wed, 01 Jun 2016 13:37:39 GMT

There is waaaay too much scaremongering going on imo (on both sides!) for anyone to make any kind of judgement call on what will/won't happen - seems to be a bit like the non-existant millenium bug scare of 16 years ago!

Re: Brexit

mintsource3000 — Wed, 01 Jun 2016 17:18:09 GMT

Same scaremongering over the Euro, all doom and gloom if we did not join the single currencey, as far as I can see it never affected us at all by not joining..

Re: Brexit

angelah1847 — Wed, 01 Jun 2016 17:31:50 GMT

@mintsource3000 wrote:

Same scaremongering over the Euro, all doom and gloom if we did not join the single currencey, as far as I can see it never affected us at all by not joining..

But that's the thing, it did affect us, in a really good way.

Re: Brexit

littlewoolshop — Wed, 01 Jun 2016 17:35:06 GMT

Ive decided to boycot this thread post on the basis of only being 4 posts in and steam coming from my ears and my blood pressure rising