UK House Prices 2024 | An Economist's View

Подписаться 35 тыс.

Просмотров 37 тыс.

50% 1

Talking property and housing markets, Phil Spencer is joined by Dr. John Boyle a Property Economist, to discuss UK house prices in 2024 and the UK housing market.
At Move iQ we believe its important to discuss what's going on in the market with a range of different experts to help you make your own mind up about what you think's ahead - no-one has a crystal ball but everyone has an opinion.
We hope you find this informative and useful - you can use the time stamps below to skip to a topic of interest.
👉 VIDEO TIMESTAMPS ⏳
00:00 Introduction
02:13 Housing market sentiment
03:23 House prices
06:27 Don't ignore the headwinds
08:26 Housing market dynamics
10:36 Rent controls in Scotland
14:04 Affordability re-balance?
16:42 Renting long-term
18:34 Advice if you're moving in next 12-months
22:04 Downsizing
👉 Dr. John Boyle is Director of Research & Strategy at Rettie & Co
🔗 / john-boyle-38204631
Enjoyed this video? Want to see more? Subscribe to the channel with the link below. That way, you won't miss any future uploads.
👉 SUBSCRIBE TO MOVE iQ RU-vid CHANNEL
🔗 / moveiq
👉 GET PHIL SPENCER'S ADVICE DIRECT TO YOUR INBOX ✉
🔗 www.moveiq.co.uk/newsletter-s...
👉 VISIT OUR MOVE iQ WEBSITE 💻
🔗 www.moveiq.co.uk/
➤ CONNECT WITH MOVE iQ ON SOCIAL 📲
Twitter: / moveiqproperty
Instagram: / moveiq
Facebook: / moveiq
TikTok: www.tiktok.com/@philspencertv...

Опубликовано:

4 июл 2024

Ссылка:

Скачать:

Готовим ссылку...

Добавить в:

Мой плейлист

Посмотреть позже

Комментарии : 163

@TazBo-wd2ig 2 месяца назад

Family of 4 buying a house for £330k. Mortgage = £1434 a month after a 15% £49,500 deposit. We both earn 35k a year and left with £20 a month each after expenses, school clubs, insurance, car etc etc. The UK is a mess! Same house was £89k in 2009 and we both on 22k each back then.

@SalisburyKing 3 месяца назад

Sometimes I think people are out of touch with reality, I know more and more people who are getting in arrears with mortgages or unable to get on the housing ladder. I have even seen people move abroad as the UK housing is just getting silly. Even a cheaper house will cost a heavy monthly price in todays market. I have seen numerous reduction for housing in my area plus friends of mine in the building industry are saying new builds are not selling which is not surprising. Something has to give.

@lukebowler7946 2 месяца назад

And thats because new builds are crap... as someone who builds them i can tell you theyre cheap awful quality structures that id be surprised if they stand for a decade... And thats because the companies are greedy and the builders are forced to rush a crap job so they can try pay the bills... no time for pride in your work when theyve just dropped all our pay by 20% at the most expensive time to live in our lives, the whole systems a corrupt joke

@Tony_Teacake 3 месяца назад

No house price crash according to your in house economist. They where saying the same just before the 90s & 2008 crash. Doesn't mention the amount of businesses going to the wall are rife and with all these people coming off there cheap fixes over the next couple of years this recession will only get much worse. Most economists seem to be way off with there predictions. If I was going to listen to any predictions from an economist it would be Peter Schiff.

@RabJ208 3 месяца назад

Are you waiting for a house price crash? 🤣👍

@FoobsTon 3 месяца назад

Did House Prices crash in 2008? 🤔 Think I missed that.

@naeedaafzal3055 3 месяца назад

Will happen after general elections

@naeedaafzal3055 2 месяца назад

it will crash, matter of times, before tory go they will do it. whole of uk bankrupt

@luvadealme 2 месяца назад

Don't forget all the old people dying soon and their houses flooding the market.....

@pleaseentername. 3 месяца назад

It depends where you want to buy. Areas such as Bournemouth and Southampton prices are at least down 15% since 2022 peaks. Anybody in a larger property in the SE is probably in similar boat. Prices are in general continuing to fall especially in the areas that went the most up during the pandemic. The whole ‘property is my pension’ is BS as increases have not beaten inflation over the last 15 years! Doubtful they will again as Help to Buy has (rightfully) been canned, interest rates are high, economy is stagnant and high price ratios to income mean house prices are now very reliant on wages increasing but they aren’t due to fiscal drag . Which will continue because of high public debt. Long story short house prices aren’t going anywhere and especially won’t beat inflation over the next 10-15 years. Housing is expensive and if bought in last 10 years is not an asset!

@cyclist20 3 месяца назад

Having just sold a house in Bournemouth I can confirm this

@oc1625 3 месяца назад

Mark this post, I guarantee that won't be the case. Watch the market in the next two years. Despite all the opinions and fears, which we always get, prices will rise way beyond inflation. There are also going to he examples where that isn't true but generally it is

@stawqw9606 2 месяца назад

It depends on the property. Terraced 3 beds in soton are affordable for first time buyers and therefore go quicker.

@ShavenMillsey 2 месяца назад

100% I know 4 ppl in east London Essex area who haven’t been able to sell for 6 months, one in over a year despite dropping their prices by 10-20%. Can’t understand why the news keeps reporting house price increases. Guess it depends on the area I guess

@thephysicalsilverfox3474 Месяц назад

@@oc1625 You're way off the mark, commercial property will nosedive first, then domestic soon after.

@andrewbrooks1392 3 месяца назад

The whole interview is predicated on the tiresome presumption that in some way escalating property prices are good for the economy. Perhaps that might be so, for some sectors of society who have a vested interest in making money from property, as if were it were no more than a business. I have personally, done well out of property, but nevertheless I would welcome a sustained drop in property prices over a number of years to the point where our young people and those on lower incomes, at least have a chance of buying property or paying a rent at a sensible price. I believe it to be unfair to expect private developers to build social housing. Instead, I do think it the responsibility of the government to embark upon a wholesale programme of social house building. The cost would be substantial, but that is what taxes are for and if they need to be increased the cause is surely worthwhile! One day, I hope that in the UK we might be able to develop a much more sophisticated attitude toward property, akin to many of our european neighbours who are preoccupied with the concept of the provision of a 'home' as distinct from the opportunity of making a fast buck!

@toiletrollholder Месяц назад

It was the government that sold off the social housing to kick start a property boom that they have benefited from. The taxpayer should not have to build a load of new ones when taxes are needed for other things.Our young people will NOT be the beneficiaries of those new builds anyway 😳

@0runny 2 месяца назад

Unfortunately any economist that doesn't talk about house prices in real terms (not nominal terms) is not worth listening to. In real terms house prices are at 2013 levels. The problem is that your salary hasn't increased, that's why you can't afford to buy a property. It's simple maths, you don't need a PhD. Crunch the number and see for yourself, surprising this 'economist' didn't mention anything of the sort.

@charlie1872 2 месяца назад

Hi Phil, always enjoyed your home/house series. Originally from Glasgow I now live in Toronto. Will watch this with interest

@AWEngineerGB Месяц назад

We should consider, if the UK birthrate continues to fall or remain low like many developed European countries, portions of the existing UK housing market may become unnecessary after a period of time as population reduces. The supply/demand situation could look quite different. Those who bought in a peak i would expect would be opposed to any large scale building plans which might now devalue their investment.

@laydownlays Месяц назад

750,000 bed needing people came into the country last year. Do you have a spare bed for them, if not, then they will need to rent or buy.

@toiletrollholder Месяц назад

@@laydownlaysall the doctors, architects and lawyers that sailed across?

@aacmove Месяц назад

I'm not sure someone wanting to purchase an affordable house within their price range cares very much about the monetary loss of owners. Let's face it, many people purchase in the UK with a view of how much profit they can make. The rest are paying over the odds because of desperation.

@DowntownR 2 месяца назад

We are seeing biflation also known as cantillion effect. Debt based assets falling

@indiannajames8428 3 месяца назад

As a [parent of a late 20's and early 30's children, I don't see how house prices can stay high, there are few first time buyers as they can't get a mortgage, the most they can afford is £200,000 if they have a partner, one of whom will probably lose wages due to raising a family, so with this group not buying houses, the market can only move if it is the rich buying off the rich, a horrendous prospect for a good society.

@FoobsTon 3 месяца назад

And where will they be living then? With you?

@indiannajames8428 3 месяца назад

Goggle adult children moving back home...

@tourrhythmgolf-3to1 3 месяца назад

In Plymouth just more overvaluing by estate agents is paralysing volume. especially this year. there are property commng on at 2022 prices and you just know they will not sell until they chop by 10%. The little that is sensibly priced sells well. Looking forward to second home tax increases pushing HPs down in the Southwest as second homers fight to offload in Q4 24 to get out before Double council tax and Business CGT relief disappears in Apr 25.

@Shaggy-8392 3 месяца назад

These economists are way out of touch. You just have to go out and see and you can see what is happening.

@chrisduffill5248 3 месяца назад

I am in the downsizing Market and feel it an impossible task with no properties that will allow me to move down and free up the bedrooms and living space in my house.

@naeedaafzal3055 2 месяца назад

depends what you want from life. i know someone bought much bigger house bigger mortgage no children because they have too many cars! why make life difficult. there are properties, just think of comfort and easier life

@AnaViolinViola 18 дней назад

It depends where you want to move to in terms of country and city, there still are many with small flats (or tiny houses) available. My husband and I decided to “downsize” from the start and live in a small flat due to the high prices around. Every day I praise our decision, it’s great to know that our humble lifestyle is financially sustainable. Who need stress in their life? I think frugality in all areas of life is very liberating:)

@just_jen 2 дня назад

Have you considered the rent a room scheme? You can charge what you like but you can earn £7500 tax free.

@AG-so4gl 2 месяца назад

Just sold my house of 20 years, protect your equity...

@ieatlotsoftoast 3 месяца назад

The greed on display is sickening

@paulmessenger9836 Месяц назад

Greed is good greed is right

@JohnDoe-wu4tt 2 месяца назад

This is interesting. Literally just watched an empirical analysis by PensionCraft. Adjusted for inflation house prices have only risen by 1.1% per annum compared to shares at over 5%. Only an average and there is cyclicality, the reality is unless get cheap mortgages, the investment case for buying houses is poor. We all have stories of success, but we are generally caught up with the obsession of housing in the UK. Time it right. Over the long run, housing is for lifestyle not an investment.

@saltaireorangebicyclechopp8555 2 месяца назад

I have 2 houses, owned outright, one was inherited. I can't sell it, l've made it the cheapest locally comparable house by far, nothing is moving around that price. If l was to sell it & stick the cash in a high interest rate account for a year then that would be less than the rent l'll earn per annum when the tenants move in next month.

@Jonnyicey 16 дней назад

In my local area ive never seen as many houses for sale, many of them on for 6 months+ and reduced multiple times.

@munchiemummy6858 2 месяца назад

Government should have Help To Rebuild for young people to get on the property ladder - to buy derelict starter homes for a lower price and renovate them - similar to the redecorating budget given to those awarded social housing properties, but on an obviously bigger scale due to the cost

@discostu2 3 месяца назад

Thanks for your opinions and content always great to watch

@indiannajames8428 3 месяца назад

What I don't understand with the rent for ever scenario is what happens when you are retired, how do you pay for rent when you are retired, and who wants to be in insecure housing when you are retired.

@stephengreen8986 3 месяца назад

You get to live in a room in a shared house if you can afford it.

@jakeblair4215 3 месяца назад

Personal decision. Usually young people rent for a few years as a couple

@mark196233 2 месяца назад

You have to take the cost of health care into account if you leave the UK and you might have heard of something called BREXIT that makes it difficult to live in Europe full time.

@rickp2293 2 месяца назад

Such a good comment which I try tell my 30 years old mates who aren’t on the ladder and have become disillusioned

@MummaBear 2 месяца назад

I often wonder what happens to renters when they stop working !

@SlackHoffman 3 месяца назад

Much less competition in rental market as low stock will drive house prices skyward ….. They’ll be very few places that people can afford to rent especially on the south coast where property is extortionate plus no high paying jobs unless you commute to London

@JohnDoe-wu4tt 2 месяца назад

Pensio Craft data shows that in real terms after inflation, house prices in UK in 2004 were on average slightly above what they are now. Remember inflation last two years been 20%. House prices actually fallen during this time.

@BAmalakas 2 месяца назад

Yeah - its our wages that are shit

@aacmove Месяц назад

I gave up the possibility of owning a property in 2001. That's why I moved to France.

@MultiTbeast Месяц назад

in 2001 it was easy you donkey

@hpatel5714 3 месяца назад

When will the house crash happen so property becomes affordable? Been waiting for nearly 20 years now.

@MalcolmXpat 3 месяца назад

lol, even if they crashed 30 percent it would have been cheaper to simply buy 20 years ago, if your waiting for a crash don't hold your breath..

@hpatel5714 3 месяца назад

20 years ago it will still expensive as I was earning just above the minimum wage.

@Dipo_Miller 2 месяца назад

Buy now anywhere. It's never going to be cheap

@tristanmaclennan2989 2 месяца назад

Inflation (CPI) no longer includes fuel and food, so now you can call it the CP lie

@Billywoo12 3 месяца назад

Landlords need to make a better margin, they need higher returns by increasing tax incentives. This will draw in more investment and will reduce, or at least level rental prices. When combined with strong legal protections for tenants this may cover all bases. Rent controls is Scotland will be about as successful as their other recent attempts at economic or social policy...

@J1M1F 3 месяца назад

Phil, educate yourself on housing affordability in Canada…

@SilverWong-yo5iu 3 месяца назад

Halifax Mar property prices dropped 1% month on month, not as bright as mass media said.

@kalliste23 Месяц назад

The housing market is global and hedge funds muscle in where they can. Given world population is set to increase by 25% by 2050 by a lowball UN estimate the appetite for housing is insatiable given the huge numbers migrating from overpopulated high fertility countries in the global south. You may not be able to afford a house in the UK but some cash rich business or individual needs somewhere to park their money. Look what happened to Vancouver.

@dougharris4853 2 месяца назад

Put it this way if house prices continue to rise owning a home is going to become a privelege for the few

@juangomezfuentes8825 Месяц назад

Why they dont mention that the real issue is that the regulation to build houses are too hard?. If you let companies to build they will build, but they cant with this regulation. If you artificially limit the offer of course you will have the prices going through the roof as soon as the demand increase.

@g.p616 3 месяца назад

This guy has a PhD !! He doesn’t mention: ONS downgrading it’s house sales figures for the LAST 3 YEARS; the Bank of England’s static growth prediction for 2024; high taxes coming through in 2024; Interest rates to remain at current levels; 1.6M coming off their low fixed rate mortgage; Per capita GDP still FALLING; Wage growth FALLING; Resolution Foundation’s report on worst growth since WW2. Instead he talks about “cautious optimism” and “headwinds.” Sorry Phil; I appreciate you pressed him with some incisive questions but for me this guy has a vested interest in talking up the property market…. I don’t buy it.

@imapadlock 3 месяца назад

I agree ☝️ that guy must be living in a parallel universe

@FoobsTon 3 месяца назад

Wage growth falling? Does that mean they're still going up?

@g.p616 2 месяца назад

@@FoobsTonYes, but not in real terms by exceeding the real inflation rate.

@nicktheengineer5976 3 месяца назад

House asking prices in mid Sussex continue to be ridiculous. Some below average properties on for £5000/m2 😂 the estate agents that agree to this...🤣

@RabJ208 3 месяца назад

Only seems ridiculous when the properties are out of your price range. Ofcourse you can look back over years gone by and pick out examples of overpriced properties. Over pricing isn't a new phenomenon. Obviously properties in general have been selling because the market on average across the UK is up 3% this year.

@nicktheengineer5976 3 месяца назад

@@RabJ208 I assume you do understand how much £5k/m2 is?

@RabJ208 3 месяца назад

@@nicktheengineer5976, 🤣👍

@Daisy-tl2lh Месяц назад

too many people and not enough houses to live in my money for the house prices is UP! and if renters think the new Renters Reform Bill is set to make their lives easier they're wrong ... many landlords will simply sell and or be super super fussy who actually gets to live in their properties ... renters expect hoops lots of them!

@Username-lw4mi Месяц назад

There is a lagging effect with interest rate increases and cost of living increases, wages are not increasing with these increases the housing market prices in England are very overpriced and a correction is coming, simple economics 101

@CanadianMirror 2 месяца назад

Im sure Gary (of Gary's economics) would have something to say abiut this. The middle class is dying. The inequality / wealth divide in the country will continue to get worse and will ruin the country for the benefit of the few. And no doubt the latest scape goat will be to blame (immigrants? Left? Right? Etc) when in reality. Recommend everyone check out Gary

@CanadianMirror 2 месяца назад

Ask yourself. The government gave out £16k per person during the pandemic. If you've not gained 16k. Where has that money gone?... see Gary for answers.

@jameselliott1965 Месяц назад

I don't understand the "tax on landlords" causing supply issues. If landlords sell, someone will buy, either to live or rent. Property doesn't go away, but property prices go down. New properties being built to invest, will change to build to supply new home ownership. I'm sure the property buyers won't just shut up shop. But removing the landlord profit taking, should benefit the potential buyer, and decrease inequality

@toiletrollholder Месяц назад

Serco will buy them for the newcomers courtesy of british taxpayer.

@SlackHoffman 3 месяца назад

When you look at how much you actually pay back over 30 years houses 🏠 are possibly one of the worst investments ever and a complete f¥€king scam !! I am a home owner so I know 😅

@stephengreen8986 3 месяца назад

Not a scam at all. It's cheap money. You could have always lived in a tree until you had saved up but you would have paid more. The difference between what you paid and what is worth today means you won so please stop pretending that you have been robbed.

@oc1625 3 месяца назад

A home isn't an investment, it's a home

@RabJ208 3 месяца назад

It's all well and good coming out with a statement like that, but without context your statement is completely irrelevant and meaningless.

@RabJ208 3 месяца назад

@@oc1625, anything that increases in value and that can be used to passeddown to future generations, is by definition an 'investment'.

@user-rp5fh7bb5x 3 месяца назад

Well it is a house, but passing down to the next generation when you pass away is hard. This depends on if it needs to be sold to pay for nursing home fees or the government takes because of inheritance, so all gone.

@shaw99livecouk Месяц назад

We could always build council houses at affordable rents...just sayin

@toiletrollholder Месяц назад

The government sold the ones we had. They also sold our gold. And now they've sold our country.

@aerial558 2 месяца назад

The problem with the property market is far to much speculation? Buy-to-let, international investors, Banks, land bagging house builders pushing the price of land up so new builds are ridiculously overpriced. Unfortunately nothing going to change for the future? In my humble opinion the only way to change is a new property valuations at today’s market value for council tax Rates 100K 1% 150k 1.5% 200k 2% 250K 2.5% 300k 3% 350k 3.5% And so on? that will stop escalating property valuations and land bagging house builders.

@MoveiQ 2 месяца назад

Thanks for sharing

@Anthony-fc8dw Месяц назад

Why do economists ignore debt? Seems so dumb to me.

@classicraceruk1337 3 месяца назад

I won’t be downsizing as my property is my future pension. I have no dependents, in fact as a couple we will be upsizing again before the end of the year. I don’t see why prudent financial planning should be stigmatised or a stick to beat us with.

@pleaseentername. 3 месяца назад

It’s a future pension but yet you want to upsize? And house prices haven’t beaten inflation for 15 years, much better off investing in the stock market and a work place pension!

@classicraceruk1337 3 месяца назад

@@pleaseentername. Invest in the stock market no thanks. As for a workplace pension I have already retired. My wife however has not, she has a workplace pension. It’s absolute shite, she only uses it because of salary sacrifice and her companies large donation. I never had a workplace pension, they did not exist when I started work in the 60’s. I invested in my property and my skills. Run my own Business Intelligence company. I am still a director of it. You giving advice without knowing someone’s financial position is very dangerous. I suggest you desist.

@tourrhythmgolf-3to1 3 месяца назад

be careful how much value you stack into your property. as you say you have no kids you only get 650k inheritance tax allowance not the 1mil you get if you have kids. Just make sure you spend it all before you due to keep it of the tax man at 40%!!!

@classicraceruk1337 3 месяца назад

@@tourrhythmgolf-3to1 You understand nothing. All assets transferred to my wife have a spouse exemption. That means cash, main house, life insurance and all other assets. She will be left very very very well off. I have told her leave nothing spend the lot. Will be difficult to leave zero assets. She will have a £1 million allowance on her death ( correct until 2028 or if the next Government changes it)if she wants to leave anything to anyone.

@tourrhythmgolf-3to1 3 месяца назад

@classicraceruk1337 You are incorrect if you have no direct descendants ( sons and daughters) the one of you that survives (assuming you are married) will have 650k IHT not 1M.

@twig3288 2 месяца назад

Help to build Help to sell Hell to buy Rent freeze Rent cap Perhaps it would be better if government butt out and leave it to good old supply & demand

@caravanstuff2827 Месяц назад

Buy a home as soon as your married before you have kids... don't buy near were you work as you'll change jobs and careers , buy were you want to live and don't worry about being slightly over your budget when the perfect home comes along...the thing is if the interest rate increases you can get a second job or cut back on expenses.. buying a home to stop paying rent is the best investment you'll ever make and will change your life for the better...rent is DEAD MONEY YOU'LL NEVER SEE AGAIN!!!.❤️🙏🇬🇧

@gaborkovacs2702 Месяц назад

Canada??? Really ?? Do you know what is going on in Canada??

@richardcook1987 3 месяца назад

Pump Pump. This is just guff

@terrynicholls1991 2 месяца назад

People are losing homes because they can't afford repayments so of course its going to crash

@shanedunne2788 3 месяца назад

💤

@RabJ208 3 месяца назад

Charlie's followers are waiting for this big 35% drop. Lol

@NO-ahr-jee-BAHR-jee 3 месяца назад

And, seeing it slowly reaching this in many areas. I've seen 15-50% drops in different areas. All you have to do is look at the number of reduced properties on Rightmove!

@RabJ208 3 месяца назад

@@NO-ahr-jee-BAHR-jee, where?

@RabJ208 3 месяца назад

@@NO-ahr-jee-BAHR-jee, you don't seriously believe Charlie's nonsense do you?

@NO-ahr-jee-BAHR-jee 3 месяца назад

@@RabJ208I only believe what I see with my own eyes, and have been doing my research for a long time. Examples I've saved include Norfolk (29.4%) drop of £125K (detached); -13% Lowestoft; 7% Colchester; -20% Beverley; Shropshire -17.6%; North Yorkshire -12%; Devon -8%, so yes I see it is possible -35% if the economic situation worsens. Not every area will see house price falls, of course, but many going that way with fewer sales.

@NO-ahr-jee-BAHR-jee 3 месяца назад

@@RabJ208Charlie isn't saying everywhere will drop by 35% and that it will be sudden. I've witnessed a slow, but steady fall in all sorts of houses, top end to bottom. Some are still selling for sure, but only 2% of the ones I've saved have sold in around 250 houses. That's very few sales over many months. People just can't afford to buy, so something has to give and it is.

@jackiechan8840 3 месяца назад

Crazy prices aren't lower.

@Silo9001 Месяц назад

Rent forever = You will own nothing and be happy.

@dlc2479 9 дней назад

He's an economist but apparently he doesn't how inflation works...UK property is already down a solid 20% in real terms ☠️

@stevep9221 26 дней назад

We sold our inherited home in old Portsmouth for £500,000 7 years ago. It was in very good order but not touched for 30 years although pretty modern for its time. An identical house in the same order and with the same same size garden is up for sale today for £520,000 in old Portsmouth. 100% proof that house prices are the same as 7 years ago and the ONS and Land registry are cooking the books on house prices. In industry that would be called fraud but this is the government doing this and it is a disgrace.

@richardcook1987 3 месяца назад

Down

@shaqisumari304 3 месяца назад

Brits are high income earners , should be able to withstand

@isander1 Месяц назад

All his views are based on data 6+ months old. He needs a good dose of reality…

@JR-fw2jo 3 месяца назад

This channel has destroyed Phil’s credibility for me.

@NO-ahr-jee-BAHR-jee 3 месяца назад

Sadly, I agree. He seemed a genuine guy, but I no longer trust his housing market 'spiel'.

@RabJ208 3 месяца назад

@@NO-ahr-jee-BAHR-jee, you trust Charlie instead? 😆

@NO-ahr-jee-BAHR-jee 3 месяца назад

Yep, charlie has no vested interest in prices dropping or going up@@RabJ208

@EileenSanders Месяц назад

No one speaks the truth. it's always bla bla bla. Most people dont want to accept that the houses are way too expensive and unaffordable . Fact.

@shazoids 2 месяца назад

😂 this really is 🦄 material. Just total and utter bollocks. This is far far far worse than 2007. Speak to people on the ground Valuers, estate agents and they will tell you it’s a car crash.