Poll: The Official OcUK EU Referendum Exit poll (and results discussion thread)

[krooton]

it really isn't, if house prices fall, its because mortgages are harder and more expensive to get. you will be no better off.
unless you have a huge deposit saved up. the only people such falls benefit is the rich.

My ability to save for a deposit will not change, which means I will get to my required deposit threshold sooner, as the current stupid prices are what are delaying me.

If I was selling and moving up the ladder, then I would be screwed, but as a FTB, prices dropping would be much welcomed. The only silver lining thus far, as I voted remain.

 

[jrodga2k5]

Comparative to recent rates.

The low of 1.40ish the week before was because of the polls showing Brexit had a chance, the low exchange rate which has returned at an even lower level essentially is because of Brexit.

However feel free to try and paint it as a pretty picture and that the Brexit itself has had no impact on the exchange rate of the Pound vs the Dollar.

 

[Jez]

As harsh and greedy as it is, house prices falling is a win for me!

Me too as it may afford me the opportunity to upsize beyond what id previously have hoped for. I am also hoping the luxury car market follows the housing market down (it usually broadly trends with the housing market)

Harsh but I have to try and see some positive in this situation

 

[Glaucus]

My ability to save for a deposit will not change, which means I will get to my required deposit threshold sooner, as the current stupid prices are what are delaying me.

If I was selling and moving up the ladder, then I would be screwed, but as a FTB, prices dropping would be much welcomed. The only silver lining thus far, as I voted remain.

and if mortgages are harder to get and more expensive, then it very much does affect you as your mortgage repayments will be higher. meaning you need a much bigger deposit to keep the repayments the same.

 

[robfosters]

When does the war start?

 

[Jez]

My ability to save for a deposit will not change, which means I will get to my required deposit threshold sooner, as the current stupid prices are what are delaying me.

If I was selling and moving up the ladder, then I would be screwed, but as a FTB, prices dropping would be much welcomed. The only silver lining thus far, as I voted remain.

A housing market drop does not only affect FTBers, it is beneficial for anyone upsizing their estate whether that be one house or 100 houses.

 

[wildman]

Its relative, house prices may all fall bring the purchasable threshold closer to affordable for the first rung.

Accompanied by more risk averse banks less likely to lend large sums of cash out to potential first time buyers who could find themselves in a volatile jobs market.

So falling house prices mean nothing to low / mid incomers in potentially risky jobs as they still won't be able to borrow the capital needed. It would however fuel another massive buy to let rush as those potential landlords will already have assets which could be used as security.

Life for the next generation has just become harder because the outgoing generation have made it so. In 20 + years time people will be wondering what the hell they actually voted for because the dream they have been mis-sold is not it.

 

[delta0]

The low of 1.40ish the week before was because of the polls showing Brexit had a chance, the low exchange rate which has returned at an even lower level essentially is because of Brexit.

However feel free to try and paint it as a pretty picture and that the Brexit itself has had no impact on the exchange rate of the Pound vs the Dollar.

So what about the low last month, the month before and every month before that? It is hardly a change in reality. I wouldn't even call it a low!

The FTSE is only 2% down now. That is normal range as if nothing had happened!

 

[ivrytwr3]

Genuine question, we were bombarded about how exiting the EU would be in the UKs interest and that vote as we all know, won. Now i was genuinely surprised, the problem i am seeing everywhere is, so is everyone else. I don't actually think people believed this would happen.

Anyway, i really would like to know if this is a good thing for us, as i am reading some quite disturbing headlines ie GBP has dropped, bad news for overseas holiday makers, Government in turmoil and even Farage appears shocked and is now backtracking on one of their major political stratgies, EU money saved to go to the NHS:

That was quite cringe worthy interview and Suzanne Reid seem shocked too as he was so blatant - it wasn't a mistake, it was a lie.

Yes, things will calm down, the news is new and raw and lots of speculation - but will the release really be to our benefit?

 

[cheesyboy]

It's a bit easy to keep posting these, but it salves the pain briefly.

 

[Semple]

So what about the low last month, the month before and every month before that? It is hardly a change in reality. I wouldn't even call it a low!

No idea what months you're looking at.

I suggest you have a look at the months of 2015 as a whole. Do a comparison to this year and you'll notice how much weaker the pound is.

 

[jrodga2k5]

So what about the low last month, the month before and every month before that? It is hardly a change in reality. I wouldn't even call it a low!

It's been the chance of Brexit coming for a period of time which has driven the currency gradually lower with the pollls eventually accellerating it last week.

Also you wouldn't call it a low? When was the last time the currency hit 1.37 to 1.38 to the dollar?

 

[sand_dune]

NHS must not get any extra money. They are lazy and wasteful.

 

[Captain]

NHS must not get any extra money. They are lazy and wasteful.

How so?

 

[Concrete]

It would however fuel another massive buy to let rush as those potential landlords will already have assets which could be used as security.

Exactly this, spent the day looking at several new properties, going to make the best out of this situation.

 

[daz]

The FTSE is only 2% down now. That is normal range as if nothing had happened!

Companies with large USD denominated earnings are covering up the losses of house builders, banks and other industries which are down by ~20%.

 

[sand_dune]

How so?

All they want is to get those ridiculous overtime payments. I figured it good.

 

[delta0]

It's been the chance of Brexit coming for a period of time which has driven the currency gradually lower with the pollls eventually accellerating it last week.

Also you wouldn't call it a low? When was the last time the currency hit 1.37 to 1.38 to the dollar?

February. It is also rising at the moment.

 

[Semple]

Genuine question, we were bombarded about how exiting the EU would be in the UKs interest and that vote as we all know, won. Now i was genuinely surprised, the problem i am seeing everywhere is, so is everyone else. I don't actually think people believed this would happen.

Anyway, i really would like to know if this is a good thing for us, as i am reading some quite disturbing headlines ie GBP has dropped, bad news for overseas holiday makers, Government in turmoil and even Farage appears shocked and is now backtracking on one of their major political stratgies, EU money saved to go to the NHS:

That was quite cringe worthy interview and Suzanne Reid seem shocked too as he was so blatant - it wasn't a mistake, it was a lie.

Yes, things will calm down, the news is new and raw and lots of speculation - but will the release really be to our benefit?

Certainly not in the short term - you can already see that with the £v$ rates and how the markets are performing (not just our own). Despite some will say "it's fineeee they'll recover" well i'll eat my hat if they recover to pre-referendum (announcement) levels within 6-12 months.

I guess the most frustrating aspect i see is that as a country we've been working very hard to pull us out of the recession period and were just starting to thrive, and now this is basically a slide back down to the start of that progression.

I'm not saying the UK won't recover from this, i'm merely pointing out the fact that we were as a country in a very good place 12-18 months ago, and it's likely everyone will now have to go through turmoil and uncertainty again for the next few years.

 

[Vtec9k]

A significant house price fall is very much needed in my eyes, many under 35s are disadvantaged by the brown era bubble.

If the excesses enjoyed by the financial sector come to an end, it would not be a bad thing in my eyes.

The prospect of lower house prices is one of the things which motivated me to vote leave!

I think you just perfectly summed up Zethors last sentence...

There's a huge difference between a house price reduction due to a stable market and supply/demand and a recession fueled drop. In the latter your wages will drop, inflation and mortgage rates will increase and so on. Not that pretty, and certainly won't be an advantage to the average Joe. In fact it's the super rich who can afford to by property for cash and hold, develop and sell when market recovers are the real winners.

Financial sector excesses? You do know it was the EU that was pushing for increased regulations, post-EU we are only likely to see more deregulation so that the UK based companies can compete more aggressively in the world market.

So basically you say you voted for Leave because you believed it would put the UK into recession?