Roll up. Make your housing market prediction here.

tomstickland

I'm in a similar position; I earn a good salary and have no debts, but the most I could afford at 3 times salary is a small flat. I can afford that, but I resent it costing me so much; I'm happy to wait and see if anything happens. Lack of FTB's has got to pull everything else down eventually.

meanmachine_2

I'm still waiting for people to explain how the market is now going to work if someone like me on above average earnings can only afford a below average property.

How does that work again?

How do I move up the ladder if I'm at peak earnings, and if I can't move up the ladder, how can anyone else?

Either the whole market grinds to a total standstill and no one moves up - only down, or something else has to happen...

In the past FTBers were much younger and could increase their earnings. That coupled with high inflation made the ladder principle work.

If I buy a below average property now, at peak earnings, can someone please explain how I'll be able to climb the ladder. If you can solve this riddle for me, I'll gladly buy.

tomstickland

I don't care any more. I don't have a problem with renting forever.

I think the problem is the lack of thought by a lot of FTBS. It's the old problem of people borrowing more money than they can afford. They don't think about the reality of it, they just think about the "yes or no" question and as soon as they get a yes then they are in a cloud of consumer happiness.

GingeG

meanmachine wrote:

I'm still waiting for people to explain how the market is now going to work if someone like me on above average earnings can only afford a below average property.

How does that work again?

How do I move up the ladder if I'm at peak earnings, and if I can't move up the ladder, how can anyone else?

Either the whole market grinds to a total standstill and no one moves up - only down, or something else has to happen...

In the past FTBers were much younger and could increase their earnings. That coupled with high inflation made the ladder principle work.

If I buy a below average property now, at peak earnings, can someone please explain how I'll be able to climb the ladder. If you can solve this riddle for me, I'll gladly buy.

Ill tell you how it works "meanmachine" we all bite the bullet and buy and you stay renting!

Or you get on the ladder you say you are above the avergae for pay, well congratulations so am I I have just bit the bulet and bought a lovely house albeit for more than I think its worth but then Im from Glasgow so the 3 bed detached in Hampshire I have just bought would have been a lot chepare up the road! However, I live and work in the South East therefore thats the cost. Thats the way it works! Now you seem an educated chap so why dont you get it??

Now please stop trying to think you are going to bring about a house price crash on here the reality out in the filed is that there is a strong growth beginning again

GingeG

Oh by the way apologies for my awful spelling mistakes, thats vodka & Irn Bru for you!!

nelly_2

GingeG wrote:

the reality out in the filed is that there is a strong growth beginning again

Yes thats true, growth of unmanigable debt and reposesions.

virgin_moneysaver

GingeG wrote:

Oh by the way apologies for my awful spelling mistakes, thats vodka & Irn Bru for you!!

at 10 to 4 in the afternoon - well done! :-)

GingeG

virgin_moneysaver wrote:

at 10 to 4 in the afternoon - well done! :-)

And your point is??

Vodka and Irn Bru can be drunk at anytime!! :j :beer:

meanmachine_2

GingeG wrote:

Now please stop trying to think you are going to bring about a house price crash on here the reality out in the filed is that there is a strong growth beginning again

You didn't answer my question. Because there is no answer.

I'm on above average earnings, but can't afford more than a below average property.

WIthout a correction to the long term mean WHO is going to buy the average and above average properties in the next 5-20 years?

No one. All that'll happen is that the young will inherit.

By the way I am "out in the field", and viewing at the moment, and all I'm seeing are BTLers dumping their stock.

And who are they going to sell to? They priced FTBers out long ago.

Honestly, the last people to give advice on where the market is heading are those who have recently bought. You're hoping the market doesn't crash. But even if it does, so what? Doesn't affect the roof over your head, so stop posting and enjoy your new mortgage.

GingeG

Supply v Demand thats all I need to say. When Sipps comes in next year I will probably buy another property to go into my retirment fund and as long as there are people like you out there I will always have tenants.

I sat still for far too long hoping there would be a crash but all that happened was a bit of a slowdown and ok some very overpriced properties in London had to drop a bit but certainly where I am in Hants they have all now recovered and are selling close to asking price.

But hey what do I know? And clearly as you correctly pointed out I am not completely objective, but then are you?