Read this thread and there’s a hell of a lot of nonsense spouted as fact. Pure sensationalism.

There is almost zero chance house prices will fall by 40-60% as some are stating. There’s far too much demand and, just like 2008, the lending problem is temporary. https://twitter.com/share_talk/status/1249058963691311109

In 2008 when the entire banking sector effectively went bankrupt, prices only fell 20-30% (parts of London fell more, but other areas of the country only dropped 10-15%). Why is now worse than that? It’s not.

Don’t believe the shock and awe headline tactics.

What happens next is banks will gradually loosen their criteria as their work forces move from the work load ‘crisis’ of mortgage holidays and bad debt back to new applications. Existing sales can and will proceed (unless sellers/buyers change their mind).

New sales will hit all time low over next quarter, that’s a fact, but supply and demand is equally effected. After lock down, with mortgage criteria looser again, there will be a hard bounce in activity. Even during lockdown I’m seeing the odd buyer, with money, desperate to buy.

People will use this as an opportunity to take advantage of highly motivated sellers, just like 2008, but this will result in the odd property being sold for a hefty discount. IT WON’T BE THE NORM.

People also forget the housing market hasn’t seen any significant growth since 2016 due to Brexit. We are not like the US.

I predict a natural, brief blip (as with any economic uncertainty) but there’ll be a new all time high in house prices in 2022/2023.