U.K Enters Recession..!!

barrymung

Tassotti wrote: »

But now, it has come to the point where this won't happen anyway, because lenders wont lend you the money to buy the place you are so desparate to buy..

And al those wishing for a house price crash you have got your wish, but with it comes your loss of job!!

So, even if the prices come down 50% you still can't buy...

Personally, I lay a lot of the blame at the programmes on the telly. "Location, location", "How big is your house" etc..etc.

They made the public believe that it was easy to become a landlord and that they'd become rich virtually overnight, so long as they followed the 'expert advice' given.

Perhaps failed landlords should sue Kirsty and Phil for their bum advice...?

geoffky

TOSSPOTTY
WHAT ABOUT US CASH BUYERS...OH AND I CANT BE MADE REDUNDANT AS I HAVE RETIRED..:rotfl:

Walletwatch

Tassotti wrote: »

The only problem is that you all have been calling it for the last six years.If you say it for long enough, it will eventually come true.

Now, in my opinion, it is envy, and most people want homes that they can own for their family (fair enough)

But now, it has come to the point where this won't happen anyway, because lenders wont lend you the money to buy the place you are so desparate to buy..

And al those wishing for a house price crash you have got your wish, but with it comes your loss of job!!

So, even if the prices come down 50% you still can't buy...

Happy Now!!!!

Sorry, I disagree with most of what you have to say... what a number of people have been concerned about is the apparent inability to afford a house... admittedly some of these guys have still gone ahead and taken on a mortgage greater than what they could afford, but there are other guys who have been relatively more conservative like myself, and kept wondering aloud as to why the market seems skewed... I don't see that as envy, it's precisely what discussion forums of this kind are for, to exchange views and learn what others think of the market...

During this period, if I have had the sense of saving up, so that when prices do drop, I will have enough to put in 50-60% deposit (and if there is a really big crash, with house prices halving, then possibly buying without a mortgage), then I have had the last laugh in my opinion. I would not need the mortgage in a credit crunch as much as I would have without the drop in prices. Also if I were to lose my job, I would just continue renting, but have enough in the bank to last me fifty months of outflows (the recommended amount for you to save to hedge against a job loss is ten months outflows). In such a situation, I would still be better off than somebody trying to keep up his mortgage payments while balancing growing food and fuel price inflation and also having to handle a job loss...

Cheers
WW

ManAtHome

Blimey, you're not considering buying into trooserland are you Geoff..?

I've also retired (sort of, early, couple of companies I do stuff for now and again), currently gearing up for barge/caravan/campervan/tent whatever. I have an "average"ish house, not planning to trade up or down at the moment, but more than likely will eventually do a "swap" for a Euroland house somewhere down the line.

Even when the current gang of snouters hit their "you want fries with that" moment, the next lot will have to dish out the pain (punters+govt totally skint), I'll stay very liquid for a while longer...

phil_b_2

it's official (turn your speakers on):

http://www.youtube.com/watch?v=CGhEyCShWpM

dudleyboy

barrymung wrote: »

Not true.

Economists won't admit they know a recession is on the way. It gives everyone "in the know" time to sell their invetsments before it becomes general knowledge!!

Why do you think that 6 months ago they were "predicting" house prices wouldn't fall? They had houses they wanted to sell, that's why!!

Barry, you're not telling me anything I don't already know... :rolleyes:

dudleyboy

Tassotti wrote: »

I really don't like the fact that Martin has allowed aggrieved people from HPC to have their own forum. I know British people don't like other Brits to be successful, but, there you go,,,,chat away.

Funny that, because I really don't like the way that when the credit crunch took hold last year, and the housing market began to teeter, anyone who dared to advise consumers, coming to this board looking for money saving advice, that house prices may actually fall, possibly even crash, either had their posts deleted, moved or were banished to a single thread on the main board, never to be seen or read by those who probably needed it the most.

In fact, from what I can tell, this sub-board has only been in operation since April. I wonder how much FTBer, negative-equity blood this site has on its hands from taking this decision and not allowing balanced advice to be prevalent on the main board?

dudleyboy

Tassotti wrote: »

The only problem is that you all have been calling it for the last six years.If you say it for long enough, it will eventually come true.

And, indeed, had the government not cut interest rates and had banks not introduced 100%+ mortgages back in 2005, when the economy stumbled and house prices looked like they might fall, prices probably would have.

Aren't we all pleased now that that didn't happen...

dudleyboy

Tassotti wrote: »

Now, in my opinion, it is envy, and most people want homes that they can own for their family (fair enough)

So is that envy? I would like to own my own home, most certainly, but I don't envy other people for having one.

In fact, I could be a "home owner" right now if I wanted. You know all those interest-only, 100%+ mortgages that were knocking around not that long ago? I could have applied for one of those too. In fact, I could've applied for 10 and they would've bitten my hand off. The only thing that stopped me was common sense.

So you bought at the bottom of the market and I didn't buy at the top. Well done to us both.

dudleyboy

Tassotti wrote: »

But now, it has come to the point where this won't happen anyway, because lenders wont lend you the money to buy the place you are so desparate to buy..

Desperate to buy? In a falling market??

I've waited this long I can wait a few more years yet. If prices fall 50%+ over the next several years (everyone can forget those conservative estimates - they don't have a great track record to date!) then I think it will have been well worth the wait.

Tassotti wrote: »

And al those wishing for a house price crash you have got your wish, but with it comes your loss of job!!
So, even if the prices come down 50% you still can't buy...
Happy Now!!!!

So all this is the buyers fault? Not the lenders, not the sellers, but the buyers?

Hmm... a funny sentiment to have on a consumer revenge website but if that's how you feel then who are we to argue.