Persimmon Share Price (PSN)

You can't build anymore land on a tiny island. Landowners won't sell low and it's the high land prices, raw materials and labour costs that dictates the cost to build a house. The war in Ukraine and Covid caused raw materials and now labour costs to rise by about 30% in the last three years, land prices are always going up so there won't be a 40% drop in house prices unless Putin, Xi and Kim start WW3. 🙄

A 40% drop in prices would cause a bank meltdown as people in huge negative equity just hand the keys back to the banks and cause a run on the banks. People who say such stupid things as below are low intelligence.

The only way affordable housing is even possible is compulsory purchase of land at agricultural prices then once land is owned by the council they then change its use to housing and they build houses for rental or part ownership only which dont cause property crash in values but might cause stagnation in price growth. The issue then is that nobody else would bother building because they cant make money and again the system would crash. Help2buy was the best scheme but it was unfairly blamed for prices rising which is ridiculous given the 0% rates were the problem not the small number of new houses being built. Me and my brother and sister all got 4 bed houses on that scheme 5% deposit and now nobody can even dream of doing what we did. Its made me 150k equity in 6 years and i paid the equity loan back with only 8k cost in total but benefited from 5 years at 1.66% and 5 years at 2.33% mortgage. This is the only scheme that ever worked and the ones since are a joke and totally useless.

So where is labour going to get all the money from to help fund a 40% drop in prices.

I cannon believe they have dropped stamp duty and totally let the market run hot. You cannot even buy a flat now for less than 150K

I hope Labour up stamp duty and build build build and knock 40% at least of house prices so everyone can buy and rent with spending 2/3of their wages on just a house. How good would that be!

Thought I'd got the date wrong when I saw the drop today. Another 40p Thursday. wish I'd been able to buy more today, book a nice divi coz surely this will be over 14 again soon.