Roll up. Make your housing market prediction here.

deemy2004

Not property owners... more the property speculators

As those who buy to live in .... buy to live in... and not for speculative reasons.

To get a clue of 'when' you have to look at the market in an international perspective i.e. whats europe's housing doing ? whats housing in the westernised countries doing ?

Apart from what happened to Austrailia last year .... they are not falling elsewhere ........ yet... maybe soon

kinster_2

meanmachine wrote:

Then property owners are idiots.

If prices crash, the rungs on the ladder get narrower and moving up gets easier. Any homeowner who supports rampant house price inflation, pushing the rungs apart needs their head examined. There was a piece in the Mail this week explaining all of this.

But then Brits are notoriously ignorant when it comes to their finances, so I'm not surprised.

and you're just perfect and know it all

meanmachine_2

kinster wrote:

and you're just perfect and know it all

Yes that's right. As I said in my post, I'm perfect.

Jeez, most Brits don't even know what an APR is.

If I knew it all, I'd have bought back in 1997, when I was looking. However, had I bought, I wouldn't have been able to take certain lower paid jobs that have led me to my current career, where I'm extremely happy.

I return to the market in 2004/5 and find that it's gone barmy, and yet, like the Emperors' new clothes, few people involved cant see that fact and think that prices 9 times the average wage is a) sustainable b) not damaging to the economy c) going to lead to ever bigger rises.

rozeepozee

meanmachine wrote:

Then property owners are idiots.

If prices crash, the rungs on the ladder get narrower and moving up gets easier. Any homeowner who supports rampant house price inflation, pushing the rungs apart needs their head examined. There was a piece in the Mail this week explaining all of this.

But then Brits are notoriously ignorant when it comes to their finances, so I'm not surprised.

I think meanmachine has a point. He's just, um, direct about the way he puts it

kinster_2

meanmachine wrote:

Yes that's right. As I said in my post, I'm perfect.

Jeez, most Brits don't even know what an APR is.

If I knew it all, I'd have bought back in 1997, when I was looking. However, had I bought, I wouldn't have been able to take certain lower paid jobs that have led me to my current career, where I'm extremely happy.

I return to the market in 2004/5 and find that it's gone barmy, and yet, like the Emperors' new clothes, few people involved cant see that fact and think that prices 9 times the average wage is a) sustainable b) not damaging to the economy c) going to lead to ever bigger rises.

you're just a hater, that's all! You just think that you're the only one with financial intelligence (that's if you do) and look down at the people who may have made mistakes with their finances.

I've still not seen a positive post by you where property owners have made a packet from house price inflation.

rozeepozee

At the risk of beginning to sound like meanmachine's unofficial PR person, perhaps his delivery could do with a bit of tweaking, but I think he's sadly misunderstood. I am one of those mm sometimes 'blasts' on here: I'm a small time BTL investor with 5 properties, but most of the time, I can see where he's coing from and the rest of the time, well, he's entitled to his opinion as I am to mine. The market value of my properties has increased by over 65% (actually, I've probably got that sum wrong, I'm pretty poor at maths, but let's say, they've increased a LOT!). On paper I've made a fortune, but I don't feel any richer, I still have the same level of indebtedness and am not any richer unless I sell and realise the profit. I might not like the idea of 'losing' this 'profit' if the price of housing falls, but I'm not at all offended that some people are pretty peeved that housing has become unaffordable for many. Indeed, I have a great deal of sympathy for the ones who choose not to buy and those who have had to stretch themselves so much in order to buy property that only 5 years ago would have been half the price.

kinster_2

well at least you have taken a bit of risk and tried to do something different, unlike some who just complain that life hasn't dealt them a good set of cards. Whinging about the market can't really change things

meanmachine_2

kinster wrote:

well at least you have taken a bit of risk and tried to do something different, unlike some who just complain that life hasn't dealt them a good set of cards. Whinging about the market can't really change things

I've stopped whinging.

I'm pretty sanguine about the market these days.

I think it represents very bad value for money, but if others crunch the numbers and come out with a different answer, that's up to them.

For me personally I'm far better off not buying right now. But that's just me. If house prices stay flat, or even fall while I'm saving, then whoopee. If not, then never mind, I'll still have broken even.

And you're right - the market will do what the market will do. So if it does go belly up, I just hope recent buyers don't start whinging or whining either.

Although I suspect they will.

zag2me

Anyone know how shared ownership comes into this equation? It seems like a perfect comprimise between buying, renting and mortgage multiples?

meanmachine_2

You mean the government backed scheme? I thought it had disappeared into a black hole of it own illogicality.

No really, a couple of the high street lenders pulled out and then it all went quiet.

It was only an empty headline grabber anyway.