Debate House Prices


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If we vote for Brexit what happens

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Comments

  • Grenage
    Grenage Posts: 2,897
    First Anniversary Name Dropper First Post
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    edited 22 September 2016 at 10:55AM
    I was a bit leery of buying at that time for the same reason as you; it could have kept on going up, in which case we'd both have been on the other side of the equation.

    Thankfully, we aren't.

    I did complete on a house two months ago, knowing full well that there is a good chance of a fall in house price over the next few years. It's our 'end-game' house though, and we don't often see houses we like a lot. Sometimes you take a bit of a risk, but it's no great shakes if you aren't planning on moving in the medium to short term... usually.
    :)
  • Grenage wrote: »
    I was a bit leery of buying at that time for the same reason as you; it could have kept on going up, in which case we'd both have been on the other side of the equation.

    Thankfully, we aren't. :)

    It never keeps going up. Bubbles always burst.
  • Why would I be wanting to buy a house sometime in the future?
    Just to satisfy your curiosity... I bought my house in 2000, when prices were sensible, my deposit was 35% and my mortgage was 2x my single, part-time wage and I paid it off in less than 10 years, all whilst still maintaining a comfortable lifestyle.
    Whilst my house may now be worth over 3x what I paid for it that means absolutely nothing to me and doesn't benefit me in anyway whatsoever.

    I just find it rather sad and pathetic when people such as yourself who have just recently bought into the peak of the biggest property price bubble the country has ever seen then spend all their time on the internet desperately trying to convince the world that they've made a sound decision and they're not at all bothered about the fact that they're going to spend the rest of their working lives and unprecedented proportions of their incomes servicing their mortgage debt.
    If you at least admitted that you've had no choice but to allow yourself to be bent over, financially shafted and turned into a debt slave, I wouldn't mind so much, but it's the fact that you constantly try to convince yourself and others that you had some kind of free choice in the matter.

    Now, do please explain why my previous post re buying woodland was so clueless...

    Seems to completely contradict your other statement back in March :rotfl:

    "I'm also looking to buy in an area of the North West, with a similar budget (125k) and property requirement and from what I can see just about the whole market (in this price range at least) seems to be made up of people who aren't desperate to move (I'll be polite and not use words like, stubborn, deluded or kiteflyers)

    Everything seems to come with asking prices that are 10%-20% above what any other comparable property has recently sold for and vendors who seem to be prepared to just leave their property sat on the market indefinitely.

    I've made offers on 6 properties in the last 12 months, all my offers were within 8% of the asking price, all of my offers were rejected, none of the 6 properties have gone on to achieve a sale (4 still sat on the market, still at their original asking price, 2 withdrawn from the market)"
  • saverbuyer wrote: »
    It never keeps going up. Bubbles always burst.

    Have you seen graphs of UK house prices over the past, say, 50 years? Bubble is the last word to describe the market. But I assume you know that.
  • CLAPTON
    CLAPTON Posts: 41,865
    Combo Breaker First Post
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    cells wrote: »
    You are assuming a fixed amount of demand which is of course nonsense. Migrants do not only produce they also consume and roughly that will be 1:1 which is the reason they dont take jobs (well they do they disproportionately take the crap low skill low pay jobs pushing the locals up pay and bands)

    If indeed, migrants both generate demand and consume in a 1:1 ratio, then they clearly add no value to the Uk and clearly fill no jobs: your logic says they simply create demand and then fill it.
    Obviously there is then nothing left over to pay for the increase in infrastructure not to mention the pain we all suffer during the infrastructure build period (5 to 10 years) of un-necessary deaths, inconvenience and poor housing.

    There is NOT one shred of evidence or theoretical analysis that immigrants cause locals to be pushed up pay levels. All analysis says they depress wages which is why virtually all the people in CBI are pro immigration

    If we have a genuine shortage of labour due to normal business cycles then the market will adjust by the usual means
    The market will adjust to a real shortage of labour in many ways:
    -Some jobs will increase in price
    -some will disappear as not worthwhile (not profitable)
    -some will be automated and so increase the overall level of goods and services produced i.e. making us permanently richer per capita
    -some part time workers will become full time
    -some people not working will decide to work where previously they those not to.

    Total nonsense the migrants due to their age profile and the displacement effect will be very large contributors to the public purse. Also many EU migrants not only do not take in the young years (education) but also do not take in the old years (healthcare, pensions). eg I have one tenant who is leaving early next year back to France who was here for about 5 years on a high wage he contributed a lot in taxes and took close to nothing out.

    Another totally meaningless anecdotal nonsense to add to that of all ISIS mass murders being your cousins and we should act accordingly.
  • glasgowdan wrote: »
    Have you seen graphs of UK house prices over the past, say, 50 years? Bubble is the last word to describe the market. But I assume you know that.



    I actually don't know what you're talking about because you've provided no point of reference. If bubble is the last word you'd use to describe it, can you tell me the first? I assume it's balloon.
  • Conrad
    Conrad Posts: 33,137
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    Tons of migrants send money back to Romania et al where they build big houses, and much of this is undeclared cash - even my own takeaway delivery chap likes to update me with photos showing the progress of his huge house being built and he deffo pays no tax and is well below thresholds, and yet is quite likely to be in receipt of housing benefit, CB, Tax credits, NHS use etc etc


    There was a documentary on recently, CH4 possibly, about Roma and this showed exactly what I describe - their whole aim is to get cash out of the UK in order to build assets back home. No way to naïve 'experts' and academics count any of this in their silly surveys and studies


    Lose, lose
  • saverbuyer wrote: »
    I was able to get a better house in the best part of the city I live in.

    So you eventually decided to buy instead of rent? Kinda proves my point doesn't it. ;-)
    saverbuyer wrote: »
    They will literally spend the next 25 years paying off negative equity.

    Well actually all the forecasts are that any negative equity will be wiped out within 15 years. However, even with the exceptional catastrophic crash in NI, they will still own their own property outright after 25 years while the HPC renter will still be paying out rent month after month paying off their landlord's mortgage...
    Every generation blames the one before...
    Mike + The Mechanics - The Living Years
  • I don't have time to explain everything to hpc-ers that apparently struggle with simple facts. Get on Google...the answers are there. You're the one saying "bubble". Prove it.
  • cells
    cells Posts: 5,246 Forumite
    edited 22 September 2016 at 11:53AM
    Conrad wrote: »
    Tons of migrants send money back to Romania et al where they build big houses, and much of this is undeclared cash - even my own takeaway delivery chap likes to update me with photos showing the progress of his huge house being built and he deffo pays no tax and is well below thresholds, and yet is quite likely to be in receipt of housing benefit, CB, Tax credits, NHS use etc etc

    There was a documentary on recently, CH4 possibly, about Roma and this showed exactly what I describe - their whole aim is to get cash out of the UK in order to build assets back home. No way to naïve 'experts' and academics count any of this in their silly surveys and studies

    Lose, lose


    Does the £22,000,000,000 of forign aid and EU contributions sent by the locals not count as 'wasted money' while your takeaway delivery mate sending £200 quid a month to his family is bankrupting us?

    We voluntarily send more out than the migrants ever could. There is also a good argument to make that migrants remittance to poor countries is a net positive and a better way to do aid

    personally my view is that the rich countries should go out and build the infrastructure of the poor countries (especially the electric/data/water grids). Short term it will be a loss but in the medium to long term a huge gain to all of humanity including the brits.

    also the money your pal sends is very likely more than offset by similar happening in the reverse. eg russian sending his boy £5 million to buy a flat in Pennington is a good deal more currency into the uk than your romanian friend sending £5k so his mother can build a basic home for themselves. the uk runs a positive balance on money in


    Also not forgetting that many EU nations are on par or richer than the UK. 13 EU countries are richer or on par and two not far behind. The bottom 10 or so are growing faster than the UK and are closing the gap. Eg poland is projected to be 75% of UK GDP/ppp/capita by 2021
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