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Debate House Prices


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Is It A Good Time To Buy?

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Comments

  • geoffky
    geoffky Posts: 6,835 Forumite
    tosspotti---you were saying six months ago that there will be no crash...funny how your arguments change as the financial world gets worse...the crash is here and you are still in the denial stage...
    It is nice to see the value of your house going up'' Why ?
    Unless you are planning to sell up and not live anywhere, I can;t see the advantage.
    If you are planning to upsize the new house will cost more.
    If you are planning to downsize your new house will cost more than it should
    If you are trying to buy your first house its almost impossible.
  • Tassotti
    Tassotti Posts: 1,492 Forumite
    Hello geoffery..

    Thank you for you abuse. My arguments haven't changed.

    I am not denying anything. I agree that house prices are going down (due to the credit crunch)

    However, it is a BLIP. Once the bank situation sorts itself out , it will be back to normal.

    ie normal hard-working people being able to buy properties...whingers, and moaners saying the same old and not being able to buy...

    The way I think it should be. It is not your RIGHT to be able to buy a property...Work for it!!!!
  • rizla01
    rizla01 Posts: 7,260 Forumite
    Part of the Furniture 1,000 Posts Name Dropper Combo Breaker
    Now edited.

    Thanks.
    "Unhappiness is not knowing what we want, and killing ourselves to get it."
    Post Count: 4,111 Thanked 3,111 Times in 1,111 Posts (Actual figures as they once were))
    Women and cats will do as they please, and men and dogs should relax and get used to the idea.
  • GDB2222
    GDB2222 Posts: 26,490 Forumite
    Part of the Furniture 10,000 Posts Photogenic Name Dropper
    Tassotti wrote: »
    However, it is a BLIP. Once the bank situation sorts itself out , it will be back to normal.

    You see? I knew it would come up. This is a dead cert for the sig list.
    No reliance should be placed on the above! Absolutely none, do you hear?
  • Tassotti
    Tassotti Posts: 1,492 Forumite
    NO YOU SEE!!

    You offer no useful advice to anyone...

    Go back to your little hole and be happy
  • Pobby
    Pobby Posts: 5,438 Forumite
    I have said this so many times. WOULD SOMEBODY GIVE ME AN EXPLAINATION WHY MY HOUSE WAS VALUED AT 400% MORE IN 2007 THAN WHAT I PAID FOR IT IN 9 YEARS EARLIER. Sorry about the caps but for crying out loud please can somebody explain this?????????????????
  • GDB2222
    GDB2222 Posts: 26,490 Forumite
    Part of the Furniture 10,000 Posts Photogenic Name Dropper
    rizla01 wrote: »
    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.


    Look, if there is just ONE property that you simply have to buy, then that's it - you simply have to buy it.

    However, once you move on to ANY exceptional property, then you are talking about several, quite a few, maybe even lots. I always think that a property is exceptional because of a combination of things that make it desirable PLUS price. So, a nice house at say £300k may be exceptional, whilst at £400k it is not exceptional. For one thing, the extra £100k could be ploughed into the property to make it nicer.

    If the market is set for a 30% fall, still, then the house which is exceptional now at £300k will look distinctly unexceptional once prices have fallen. You may even be able to find another exceptional house after prices have fallen that falls into your category of 'exceptional' but at £200k, or an even better house for the original £300k.

    'What the market is doing wont feature in the thought process.' I'm sorry but that's simply wrong.
    No reliance should be placed on the above! Absolutely none, do you hear?
  • GDB2222
    GDB2222 Posts: 26,490 Forumite
    Part of the Furniture 10,000 Posts Photogenic Name Dropper
    Pobby wrote: »
    I have said this so many times. WOULD SOMEBODY GIVE ME AN EXPLAINATION WHY MY HOUSE WAS VALUED AT 400% MORE IN 2007 THAN WHAT I PAID FOR IT IN 9 YEARS EARLIER. Sorry about the caps but for crying out loud please can somebody explain this?????????????????


    400% is an exceptional increase, even allowing for the house price bubble.
    No reliance should be placed on the above! Absolutely none, do you hear?
  • Pobby
    Pobby Posts: 5,438 Forumite
    Well, yes, i guess it was . West country, 3 story terrace in an Ok area. Given it was a 2 bedder and we had down sized from a 4 bedder. I did go in as a cash buyer at a rather knockdown price and it needed a bit, but not a lot doing to it.
  • GDB2222
    GDB2222 Posts: 26,490 Forumite
    Part of the Furniture 10,000 Posts Photogenic Name Dropper
    Tassotti wrote: »
    NO YOU SEE!!

    You offer no useful advice to anyone...

    Go back to your little hole and be happy


    Sorry, I've upset you. You're right, there wasn't a house price bubble, and the present falls are just a short-term blip. Normal service will be resumed in the next month or two. There, is that better?

    I offer very useful advice to people:
    • This is not a blip, house prices are set to fall a lot further, so do not buy now.
    • Last time there was a major drop in prices, the bottom of the market was level and lasted 3 years (after the bottom was reached). Consequently, if history repeats itself, there is no point in buying now, even for an exceptional property, as you will have a long period once prices have fallen to find an exceptional place.
    No reliance should be placed on the above! Absolutely none, do you hear?
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