Member Info for stevebt

Dont take too much notice of the papers as like recent posters on here they are all doom and gloom but thats what gets the headlines. when covid kicked off they were saying about 5m people would die from it in this country alone. Nice scare tactics and good headlines for the papers.

it is sentiment that drives share prices and at the moment its quite low for psn. the interest rate rises have been with people for over a year now as people due to move into psn homes this time last year were complaining if the build was slow as their mortgage offer would run out. its not a problem with people affording the mortgages its moer the banks arent giving people the money.

people keep saying this is going to be as bad as 2008 buti t just isnt as psn and other house builders are still building unlike the time of the financial crash and people saying it needs more time for the rates problem to filter thru but they have been rising for a year and its well publicised what the rates are expected to be so why are we in a housing crash now?

it was quiet in january and february but it started to get back to near normal speeds after that. Like i have said a few times the interest rates are less likely to affect someone buying a house as they know what they are paying and its not going to get much more expensive than now but people who bought between two and five years ago and their fixed rtes are due to end are the ones who will have more trouble as their budgets will bbe affected much more.

New buyers can take on 35 year deal and or just downgrade housing size to make purchases easier to afford.

sales may be reduced with people putting off buying a new home due to believing the stories and people keep saying how prices are going too crash but it just wont happen as i have said before private seller wont sell with crashed prices unless they are forced to as they wont accept the low price estate agents say their property is worth so then iit just makes even less inventory available and buyers will just start making silly offers below what people want for their homes so the sellers will just take their properties off the market

All in my opinion but its what happened in the financial crisis and its what will happen now. Buying a house for the lowest possible price is similar to buying shares as if you wait it out you could grab a bargain but you could also miss out if sentiment changes .

Is the share price now dropping because of the reported loss on last years accounts? Was tempted to top up before as it was o.37p which I thought was great but after reading the rns I decided to hold on.

I think it’s short sellers that have created drops in a lot of fuse shares, with the recent drops I’m sitting on a 25% paper loss but in reality with trading the share I still have £1.40 more to drop before I start to make a real loss.

I only had a small amount of Psn shares before 2020 and now I have a lot because of.all the events that have happened in the last three year. I plan to just hold as Psn will recover in time and even if it’s five years I’m ok as I know the firm is rock solid and the money is for my pension so I can wait.

I know he has said don’t buy a failing knife but I never had a problem buying on the way down with Bp and shell and I don’t have one here as no one knows where the bottom is !

Lorenzo, How do you know inflation affects first time buyers more, do you know their financials? A first time buyer in todays climate know what they are paying so aren’t in for any shocks but some who is already on say a 2% fixed rate that is due to end is much more likely to have money issues as there will be a shock to their budget.

A lot of Psn land banks have been held for years and usually if they get a good sized area they farm out areas of it to others house builders.

Strictly, I can’t speak for the whole country on Psn but in my region half year sales finish on Friday and they have still been mental and when July is normally quiet as they are dealing with customers from handovers, I have been told it’s still going to be very busy.

Psn plan would have been to complete areas visible to the public up to roof height but I very much doubt they would continue with the internal trades as it’s just money down the drain. Also if there were to be a grind down Psn will totally adjust build schedules as they won’t be spending money on trades to do work with reduced sales coming in.

As for what’s changed since Jeff moved on and I would say nothing, dean would have been brought in to give fresh eyes on the firm instead of promoting someone in house again. To be honest I can see someone with in the firm taking over deans job in a few years time but that’s just my opinion.

Just take drops like this as opportunities to build up your stake in small amounts just in case it does drop further.

You two are like a double act posting the same sort of information in exactly the same boards

You can’t complete unsold plots as it leaves poor options for extras and most want changes to the standard house, eve say adding a personnel door is a lot of dust and damage to repair if the client decides they want one.

Psn won’t be wasting money building lots of stock plots if there is a down turn as they will only build sold plots and the occasional stock plot, they will however get a few up to roof height then just leave alone till sold.

Psn is being hammered as they cut the dividend and were unclear about what the new dividend will be going forward so the share crashed. If they announce a poor dividend in august I think it will crash the share more?

No one knows what the new dividend will be but the ft has an estimate of around 7% moving forward in 2023

10th august we will all know what the new dividend rate is, I don’t think it will be too bad as they have still had a lot of sales this last six months but I have no idea what forward sales are like and if that will affect this first half dividend??

I was on a site today and you can buy properties on this site sell from £137k to £307k. If people need a property on here they can either choose to buy a smaller property or just buy what they like but take the mortgage over a longer term.

I read in honk Kong they do 100 year mortgages and the term just passes onto children but either way if you took a mortgage now for 35years and sold in 20 years there would defiantly be a huge increase or you could just drop 5 years off the mortgage in 20 years time as wages to old term rates will be far better.

If you rent you pay too dollar till you die no ifs or buts it’s just a reality!

That website is wrong for the lady dividend as Psn paid £1.70 last year and has not declared what its dividend is for 2023.

People seem to think they know about Psn but it appears they don’t do any research to check their facts.

It’s the same when people keep mentioning about will Psn keep paying its special dividend, Psn HAVE NEVER paid a special dividend! dyor

Psn will still building as they have contracts for social housing and there will still be sales. I worked all the way thru the 2008 crash and I was busy all the time and it will be the same this time.

It’s the BoE that has created the interest problem as they are now telling people to spend less and save more whereas after Covid they told us to spend our way out of trouble!

It’s a pity the government can’t take their own advice as they are borrowing more and more and are spending far more than they have, hypocrites!

If we knew that we’d all be selling up

Your post contradicts yourself as you state about people being in denial about how bad the housing market is yet you say you topped up yesterday.

It’s looking like a drop into the £10’s will happen today

So how much do they get paid if it’s rains or snows, and that money would be for price work as they won’t get paid that to relax on day rates. Plus no holiday pay and no job security.

Wages in the building trade aren’t out of control as my money is still miles behind what I got paid in 2007 and that’s 16 years ago.