Is It A Good Time To Buy?

lostinrates

MrBroderick is talking about his finger. He can stand behind the tv, doing whatever he's doing (and we don't need to know Dear) and with his spare hand : point.

Good God. I snapped on friday and now almost acknowledge Mr B's lewd humour. I'm finally cracking.

LillyJ

GDB2222 wrote: »

We've had the same Miele washing machine and tumble drier since 1998. So far, they have not gone wrong once. Family of 7, at least one wash a day, etc.

My parents have had their washing machine and tumble dryer since I was 5, nearly 20 years ago. Luckily they are in the utility room cos they're bloomin ugly. Work well though. They even stayed in the house when it was rented out when we were abroad.

wymondham

We have a really good washing machine. It's one of the white square type, but this one has a see-through door so you can see the clothes going around.

GDB2222

wymondham wrote: »

We have a really good washing machine. It's one of the white square type, but this one has a see-through door so you can see the clothes going around.

I just love the way these threads perform a random walk around the original topic.

System

Tassotti wrote: »

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


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

I agree, if I plan on living in the same house for the rest of my life, then why should I care about resale value?

GDB2222

candyflossing wrote: »

I agree, if I plan on living in the same house for the rest of my life, then why should I care about resale value?

1. Because plans change? 50% of marriages end in divorce. 100% of lives end in death. 100% of jobs simply end.

2. Because it's daft to pay say £200k for a house that would be available 2 years later for £150k. If you wait the 2 years, that's 25% off the mortgage payments for the next 25 years.

There's so much emotion involved, because nearly everyone wants to own their own home eventually. Some FTBers have been priced out of the market for years, and they now see an opportunity to get on the band-wagon, fearing this will be their only chance. However, prices are free-falling at the moment, and there'll be even better opportunities to buty in the next couple of years. Having rented this long, it's a shame to spoil it by getting too impatient.

Conrad

ad44downey wrote: »

Not really if it's going to be 10% cheaper in 6 months' time. Not many people can afford to neglect that sort of price difference.

Whilst many critiscise the property bulls for being short sighted, the pessimists are similarly narrow minded. The point here is that pessimists tend in my experience to be overly concerned with protecting thier money hoarde, whereas as most Jo blows are not so hung up in this way. If they like a house, they buy it. If they lose 15% - no worries really, they are happy and know the price will come again anayway. A classic pessimists will never understand this mindset.

Take a look at the majority of posters on housepricecrash.co.uk - you soon realise these are the types that only want to pay for the meal they ate rather, than just split the bill equally when out with freinds. I think we all know people like this.

Conrad

GDB2222 wrote: »

Having rented this long, it's a shame to spoil it by getting too impatient.

Quite soon many uber bears will realise the bottom has yet again passed them by.

Remember, the trick is not to wait for positive data as by then all the really desperate sellers will suddenly be no longer desperate as buyers flock back.

The time to buy is the point of maximum pessimism which I suspect is already passing. Rates will soon fall (Thailand and China for example are reposrting record crop yields and new wyas to crop three times per year instead of two) and with todays Government intervention the oil tanker is gradually losing momentum.

Furthermore I am seeing lower mortgage rates being reported of late as lenders regain thier composure.

Dithering_Dad

Conrad wrote: »

Whilst many critiscise the property bulls for being short sighted, the pessimists are similarly narrow minded. The point here is that pessimists tend in my experience to be overly concerned with protecting thier money hoarde, whereas as most Jo blows are not so hung up in this way. If they like a house, they buy it. If they lose 15% - no worries really, they are happy and know the price will come again anayway. A classic pessimists will never understand this mindset.

Take a look at the majority of posters on housepricecrash.co.uk - you soon realise these are the types that only want to pay for the meal they ate rather, than just split the bill equally when out with freinds. I think we all know people like this.

Great post Conrad and very much what I was also thinking. It's crazy that some people on here are placing a set timeframe on their house purchase (not for 2 years seems to be a common refrain) instead of researching their target area and keeping an eye out for bargains that are available now.

I guess some of them have been renting for so long that they don't see a house as a 'home' but rather as simply a roof over their heads. If this is the case, then perhaps they're better off renting. For the rest of us we will keep a look out for that 'perfect' home.

Some people know the cost of everything and the value of nothing.

Cannon_Fodder

Conrad wrote: »

Quite soon many uber bears will realise the bottom has yet again passed them by.

Furthermore I am seeing lower mortgage rates being reported of late as lenders regain thier composure.

Are 7x & 8x income multiples back on the cards?
Is 100% - 125% LTV back on the market?

If so, you may be right. Boom ahead.


If not, flat at best, more drops likely. Happy to be patient.

Sounds like VI to me.