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Debate House Prices
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Why can no one be positive on this forum.
Comments
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Max_Headroom wrote: »Oops, posted at the same time.
Not that I'm happy with even the best interest rates returning less than the horribly fiddled CPI after tax, mind.
Still, seeing the thing I'm going to buy plummeting in price takes the edge off of it somewhat
--
Every pound less borrowed (to buy a house) is more than two pounds less to repay and more than three pounds less to earn, over the course of a typical mortgage.0 -
justpurchased wrote: »Another great post! read the rest of the post all of the way through:rolleyes: . By the way you never got back to me on how you were placed to survive the credit crunch.
Ok if some one as run you down in the past i feel for you but is it my fault?
Probably like most of us. By saving (which he mentioned before).
The credit crunch hasn't effected me in a drastic way. The increase in food/fuel etc... and rent hike has changed certain things (lifestyle things), such as going out a little less, or if I do spending less, not buying as many luxuries etc... By doing that I can continue saving a decent amount each month.
Why buy when prices are dropping every month, and banks will only give me ridiculous mortgage rates? I can happily wait and it's up to me to judge when is best to buy (before the market picks up again).
And by waiting I save more, so I need to borrow less when I do come to buying. Just a matter of being patient and disciplined with my saving then I may actually be able to buy somewhere nice in London one day.
All looking very positive for me though."Boonowa tweepi, ha, ha."0 -
Yes I did - see my post in response. House prices going down, savings going up. It's not rocket science :rolleyes:
See what I mean about the bulls getting personal? Thanks for proving my point. You get no sympathy from me.
No I am not getting personal but savings rates are lower than inflation, and you could lose your job (if you have one) which would eat them. Not being funny but i do not think anyone can say on here they have a fool proof plan which will see them through the economic downturn (i am fed up with credit crunch). But a lucky majority will escape with jobs houses etc.0 -
Probably like most of us. By saving (which he mentioned before).
The credit crunch hasn't effected me in a drastic way. The increase in food/fuel etc... and rent hike has changed certain things (lifestyle things), such as going out a little less, or if I do spending less, not buying as many luxuries etc... By doing that I can continue saving a decent amount each month.
Why buy when prices are dropping every month, and banks will only give me ridiculous mortgage rates? I can happily wait and it's up to me to judge when is best to buy (before the market picks up again).
And by waiting I save more, so I need to borrow less when I do come to buying. Just a matter of being patient and disciplined with my saving then I may actually be able to buy somewhere nice in London one day.
All looking very positive for me though.
Well said. The rocketing cost of living is pretty devastating for the over-indebted. But many of those people are in that position through poor personal choices - ie. Borrow to spend on consumption and living beyond their means. I have exactly zero sympathy for them.
For those of us who worked hard and lived within our means this represents a good opportunity to realise the fruits of our labours. Of course, a loss of job could kiboosh all that but losing your job would be even worse if you were trying to service a large, secured debt. Plus, there's little you can do to stop your employer laying people off so why worry about it? I'm very positive the possibilities.--
Every pound less borrowed (to buy a house) is more than two pounds less to repay and more than three pounds less to earn, over the course of a typical mortgage.0 -
justpurchased wrote: »No I am not getting personal but savings rates are lower than inflation
They're about 15% higher that House Price Inflation.
Which is the only inflation that matters if you're saving to buy a house.
:money:0 -
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justpurchased wrote: »Well that depends on affordabillity also "there is always some one better of than yourself" Unfortunatly.
What's your point supposed to mean? That statement will always be true, unless you're the world's richest man (or woman) at the moment (some Russian guy? No longer Bill Gates).0 -
justpurchased wrote: »After 2 pages of replies some one actualy reads the question and not just sees the word positive and jumps on that.
2 pages of house prices falling are positive but you dont read the question, I think to many people rely on headlines in this forum.
Why do you think people misunderstood you? Because they are all negative people? Or is it because you want to make them out to be negative because they don't agree with you?
People misunderstood you because you deliberately split your post into two quite confusing points...
Point 1:justpurchased wrote: »Why if you respond in a positive way people try to make out you are an idiot.
Point 2:justpurchased wrote: »Not all people are going to be effected by the credit crunch so they can be positive surely. It is only a point of view after all.
Then you go on to explain why you've done this deliberately to prove your point:justpurchased wrote: »No my point is proven and quiet deliberate most pople on here only read what they want to read.
When you deliberately try to mislead people to prove a point, surprise, surprise, they get mislead.
In response to the question you say you were really asking, people respond to you and the likes of pickledpink in a negative way because of the often ridiculous / antagonistic / overly "optimistic" / aggressive / personal stuff you say.
You will probably class this post as negative but it's only negative IN RESPONSE to you.0 -
justpurchased wrote: »No I am not getting personal but savings rates are lower than inflation, and you could lose your job (if you have one) which would eat them. Not being funny but i do not think anyone can say on here they have a fool proof plan which will see them through the economic downturn (i am fed up with credit crunch). But a lucky majority will escape with jobs houses etc.
Yes - returns on savings are lower than inflation but the price of houses is deflating .. considerably.
I could indeed lose my job, which I am very aware of but:
a. Better that I don't have a whopping debt secured to my devaluing home hanging over me in the event that I lose my job. So I'm even happier to be renting at the moment.
b. Nothing I can do about it anyway.
So, given that I have a large pot of savings I'm feeling pretty positive about being able to use them to get a house for a lot less than I would otherwise have paid and quite probably being able to avoid taking out a mortgage - depending on the type of property that I want to buy. It'll be my decision on whether I want to have a (small) mortgage or no mortgage at all.
Once I have a house that I own outright (no rent, no mortgage) that puts me in a very secure position indeed,for the future.
So there's your 'positivity'.--
Every pound less borrowed (to buy a house) is more than two pounds less to repay and more than three pounds less to earn, over the course of a typical mortgage.0 -
obsessed_saver wrote: »What's your point supposed to mean? That statement will always be true, unless you're the world's richest man (or woman) at the moment (some Russian guy? No longer Bill Gates).
Well unfortunatly not everyone will get on the ladder and savings alone will not secure a property, that is life. They will just have some savings which is good (that they have savings that is)
Richest man -I belive it is Mital (some indian steel guy owns TATA etc) Sorry for spelling but i cant be sure, but i know it is not me. Yet.:D0
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