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[sikhthetech] 20/1/2024 20:19

Kreature,

Exactly. huge debt problem, country, businesses/organisations, individuals, which is only getting worse.


"UK banks issue ‘default’ warning over mortgage and credit card debt"




sikhthetech20 Feb '22 - 15:26 - 5884 of 5899 Edit
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When the housing market crashes, no HB is immune from the crash. Likewise, listed HBs are not immune from stockmarket falls or movements.

Govn support, provided during pandemic, has ended. Repossessions which were stopped during pandemic are legal again.
Around 30k homeowners in severe mortgage debt.
Inflationary pressure, interest rate rises, NI rises, Council tax rises, energy price rises all impact affordability.

[kreature] 19/1/2024 10:26

Not sure if this is helpful or not?

[adamb1978] 19/1/2024 08:18

Amazing those analysts can influence anything given how often its shown that their target prices are garbage

(I agree though that PSN is cheap...but I'm looking for 2500p-3000p in 2-3 years)

[lafiamma] 19/1/2024 08:01

Today's rise comes courtesy of Morgan Stanley raising price target to 1635p from 1131p

[kreature] 18/1/2024 15:39

Backers, don’t take this the wrong way but you’re an idiot. That’s just a fact. No offence intended. ATB

[kreature] 17/1/2024 09:35

Yep, housing costs may have come down, but everything else has gone up, meaning than no-one has got any money to buy a house of cards

[ymaheru] 16/1/2024 23:04

But they’ll have £1.1bn above their normal spending, so maybe £1.5bn. I’m saying that is a HUGE amount extra; more than enough to cope with any input inflation.

I think your point is that they won’t get to 3500p immediately after an uptick. I can live with that.

[sikhthetech] 16/1/2024 22:30

ymaheru,


That's the point. HBs have taken out huge debt facilities. Why? Obviously they're not confident about the housing market, when it will turn, as can also been seen from their TUs. The longer the downturn, the higher the risk HBs going from being cash rich to having to rely on huge debt.

Those debt facilities have conditions attached and can easily be recalled.

The point I mentioned in my previous point was about resources.

"The longer the downturn the harder it would become to have the resources in place to seize the opportunity the upturn presents."


Once the market turns then there could be significant increase in demand for contractors, staff, materials etc, increasing costs. Some resources might not be available for months and the costs for these could be significantly more than now.

Look what happened as sectors/companies came out of covid lockdowns.

[ymaheru] 16/1/2024 21:45

Don’t forget they’ve increased cash since June 30 and have a new £700m debt facility, so £1.1 bn plus any newly generated cash above normal spending. Huge.

Taking advantage of an uptick with any more cash than that would be incredible.

[sikhthetech] 16/1/2024 21:15

One of biggest problems with declining cash, declining demand and therefore the need to conserve cash is when the housing market picks up, they could have a lack of cash/resources to take advantage of any significant surge in sales.


The longer the downturn the harder it would become to have the resources in place to seize the opportunity the upturn presents.

[kreature] 16/1/2024 18:49

Personally I don’t believe Jeffries would be selling. Only my personal opinion though sorry

[davius] 16/1/2024 10:06

Jefferies raises Persimmon to 'buy' (hold) - price target 1,706 (1,181) pence

[winner31] 16/1/2024 08:35

Are we going to break £15 today !

[ymaheru] 15/1/2024 20:52

Agree with most of that StT, but it is a positive.

If buyers were down 10% that would’ve been negative.

I’m also a buyer, and money just got a whole lot easier to get(lower mortgage rates and fees), so like others I’m also now more likely to buy.

Also, more buyers/ browsers probably does mean more competition now, even if many don’t buy for 3-6 months (mortgage offers actually often last 6 months).

This news supports prices, eventhough sellers are getting more realistic also. I look at housing news as positive and negative pressures. This is positive for higher prices, so positive for PSN.

[sikhthetech] 15/1/2024 20:20

ymaheru/winner31,

The number of 'potential' buyers, enquiries, are up as sellers return with more realistic pricing. At the same time more potential homebuyers are looking at how much they can borrow.

That happens all the time. People get mortgages in principle and see what's available within that mortgage amount. Plus there'll likely several enquiries per property for sale.
Asking prices prices are still lower than last year and as more ask for bigger discounts then property selling prices are also likely to be lower than last year.
Given mortgages in principle can be valid for 3 months, the potential homebuyer could be looking around for a while yet, to see how the property market does over the next few months.

Rightmove are an estate agents, they will talk their own book.


"According to Rightmove, average new seller asking prices are still 0.7% lower than last year, highlighting that many new sellers are being realistic about their expectations as the market continues to recover from the impact of volatile mortgage rates."

[kreature] 15/1/2024 20:11

Potential buyers, not buyers right ? Which proves to point that it’s just a load of sellers with lots of tyre kickers

[ymaheru] 15/1/2024 19:57

The Rightmove statement clearly says that number of buyers is up year over year, which is very positive as last Jan wasn’t that bad.

So, nothing to do with desperate sellers.

[winner31] 15/1/2024 19:46

I’d rather believe a director of Rightmove than a failed trader like you .

[kreature] 15/1/2024 19:09

A strong start of desperate sellers?

[winner31] 15/1/2024 17:36

The housing market has had a strong start to the year, according to property portal Rightmove.

Across Britain, the average price of a property coming on the market increased by 1.3% or GBP4,571 month-on-month, to GBP359,748, Rightmove said.

The number of potential buyers contacting estate agents about homes for sale in the first week of 2024 was 5% higher than in the same period last year, with the growth in activity strongest in London and the North East of England, Rightmove said.

Tim Bannister, Rightmove's director of property science, said: "After a stop-start market in 2023, the initial signs suggest a smoother year for movers in 2024.

"More new sellers are now entering the market, and with more confident pricing," he added.