What's behind the UK property and US shares lockdown mini-booms?
This is Money Podcast
This is Money
4.1 • 650 Ratings
🗓️ 4 September 2020
⏱️ 45 minutes
🧾️ Download transcript
Summary
The coronavirus crisis is still here, waves of job losses keep on coming and almost everyone is agreed there is more bad news to come.
Yet, shares in the US and house prices in the UK are on the up.
Is there anything behind this other than cheap central bank money and the belief that it will keep flowing and propping up asset prices?
Perhaps, we have underestimated the resilience of the high flying tech stars and the British home buyer?
On this week's podcast Simon lambert and Georgie Frost look at the parallels and differences between the British and American national obsessions of the property market and stock market.
Plus, the mortgage crunch that is locking out first-time buyers from the party and the Metro Bank customer cruelly scammed twice are on the agenda.
And finally, missing Eat Out to Help Out already? We reveal how to keep supporting the economy / wasting money / stuffing your face (delete as applicable depending on your view) for at least the rest of this month.
Transcript
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| 0:00.0 | Welcome to This Is Money podcast brought to you in partnership with Charles Stanley Direct, the award-winning investment platform trusted by over 40,000 clients. |
| 0:09.2 | Investment involves risk. I'm Georgie Frost, and alongside me today is editor Simon Lambert. And it's the curse of the editor. |
| 0:17.9 | Right about soaring tech stocks in the States, one day you see them drop like a stone the next. |
| 0:22.6 | All right, well, they're still pretty up. But what's going on? And will we see something similar with its equally contrary twin in the UK? I am, of course, talking about property prices. |
| 0:32.6 | Also, we're going to be discussing a scam on a scam, how one reader was hit with a double whammy, losing thousands in a sophisticated ruse, more trouble as well for first-time buyers, and how to keep the eat-out to help out discounts coming. |
| 0:48.2 | Don't forget, you're up to date with all the latest breaking money news. |
| 0:51.1 | Just go to this ismoney.co.uk or download the app. But first, what is |
| 0:56.0 | happening on the other side of the pond? We were told house prices would crash, markets tumble |
| 1:01.2 | as a result of coronavirus. Now we've seen both property here and the stock market in the US |
| 1:06.2 | saw to record highs even amid talk of a second wave. But then last night on Wall Street, |
| 1:12.2 | shares in tech giants, including Tesla, Apple, Amazon and star newcomer Zoom fell by between |
| 1:17.8 | 5 and 10% as traders decided to take their money and run. So will we see something with |
| 1:25.0 | the property market here? Simon, we should say, first of all, that while they have fallen, they are still very high. |
| 1:33.1 | So what is going on? |
| 1:34.5 | Just give us a bit of background. |
| 1:36.2 | What's happening over the other side of the pond? |
| 1:38.9 | Well, you've got to remember, and this is why I pulled the two things together in my column, |
| 1:43.7 | that for the property market and our national obsession over here, read the stock market in the States. |
| 1:51.0 | America is a nation of investors, stock market investors, and that is something that goes back. |
| 1:59.0 | You're knocking on 100 years now, I think, you know, back to the boom of the 20s and |
| 2:04.1 | everything, you know, where there was a back in the days of the famous trader, Jesse Livermore, |
| 2:10.2 | where there was a, you know, a stock house where you could buy your stocks in every, every little, |
... |
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