Is It A Good Time To Buy?

Gorgeous_George

mewbie wrote: »

This sort of thread is doing my head in. There is a never ending stream of idiots posting this sort of question...

And this thread was started by the latest .

If you think prices will fall, it is generally better to abstain from buying. Works for anything that you may buy.

GG

rizla01

GDB2222 wrote: »

Correct on all 3 points.

Seriously, your argument is that this one exceptional house is the only one in the world for you? A never to be repeated opportunity?:rotfl:

A lot of the people here come with preconceptions and just want confirmation of what they have already decided to do.

My argument is not about the ONE exceptional property that I find but about ANY exceptional property, as you full well know.

Many are in a position to be more particular than others about the home that they buy and there is never a better time for those people to buy than that time when the particular property becomes available. Otherwise you just won't get a look-in, so if it comes up, ask yourself - do you want it or don't you?

What the market is doing wont feature in the thought process.

Jumping_Bean

Jonbvn wrote: »

I'm thinking of changing my signature:

The slogans I'm looking at:

Renting is Dead Money.
Get on the Ladder Whatever the Cost.
Prices only ever go up.
Stamp out Stamp Duty.
Phil & Krusty for PM

Any more?

When I read this I was just about to say you've missed off the immortal crap about crystal balls. Before I even got a chance to post the words "Crystal Ball":

rizla01 wrote: »

And, unlike Beckham, I take it that you have all got crystal balls.

Unbelievable.

The amount of times I've heard:

You haven't got a crystal ball.
Rent is dead money.
As long as you don't plan on selling in 2,3,5 years you'll be fine.
It's a home not an investment (this has got to be the most popular).
The government won't let house prices crash.
If you wait for prices to stop falling you'll miss out on your dream home.
The nice houses won't drop in price.
You better buy soon or prices will start going up again and you'll be priced out forever.
Or some variation on the above.

I agree with mewbie, some people simply will not accept anything else. Even when they have the foresight to ask whether now is a good time to buy, when they don't hear the answer they want they just choose to ignore it. I was reading a thread where someone was comparing it to religion and I think that's a pretty good comparison. The above has been fed to the masses for so long that however much logic or reasoning is thrown at them some people just will not / cannot accept it.

There should be a sticky explaining in really simple terms why the above is a load of ****. They still won't believe it but at least it would be an attempt to do away with the endless need to repeat.

Dithering_Dad

mewbie wrote: »

This sort of thread is doing my head in. There is a never ending stream of idiots posting this sort of question. They don't read, they don't listen, they don't understand.

<General Rant>

Rant suspended, but definitely not over.

What difference does it make to you if people buy anyway? Why are you so angry?

If someone creates a thread that you're not interested in then simply move onto the 4000 other threads available within MSE.

Tassotti

[/quote]

It's a home not an investment (this has got to be the most popular).
[/quote]

Well, that one is true, unless you are an investor

Tassotti

Dithering_Dad wrote: »

What difference does it make to you if people buy anyway? Why are you so angry?

If someone creates a thread that you're not interested in then simply move onto the 4000 other threads available within MSE.

Most of these people are from HPC....These people have been tainting and getting over-excited for years. Think they should be banned

No-one ever offers advice but just rant at people, and now this blip has occurred...

'Oh yeah, we were all right!! Told you so..Hope you all lose your homes and your jobs.'

Either stay in your bedrooms or get off your backsides and work for what you actually want.

Chris2685

GDB2222 wrote: »

Add:
Prices will shoot back up again as soon as the supply of mortgages returns to normal

What data do you have available that it won't happen? As far as I can tell from my research and looking at the history of the housing market, this is a dead cert to happen

Jumping_Bean

Chris2685 wrote: »

As far as I can tell from my research and looking at the history of the housing market, this is a dead cert to happen

What part of history and your research leads you to think it's a dead cert? Please explain. Or are you being sarcastic?

Chris2685

What? Why would I be being sarcastic? House prices have ALWAYS risen over the long term. If anyone has EVER bought a house and lived in it for 20 years, they have ALWAYS sold it for more than they bought it for! (Give or take a few really run down areas I suppose!). Look at the graph below, the red line is the mean price rise. So even though prices go up and down in cycles, the mean always rises. I can't see house prices dropping much below 4x average salary for a given local area to be honest, because people will always want to buy and that is roughly the amount banks will lend at for the foreseeable future. The only reason prices are coming down is because people can't borrow what they used to, so house prices are correcting themselves. Sure, there will be an undershoot when the crash goes into full swing, but it will bounce back up again soon enough.

geoffky

what is wrong with these people.. it really winds me up when they come on asking the question...i really think basic economics should be compulsory at school.


we should all say yes buy now and if they are fools let them suffer for being financially illiterate....