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Debate House Prices


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Why can no one be positive on this forum.

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Comments

  • mewbie_2
    mewbie_2 Posts: 6,058 Forumite
    1,000 Posts Combo Breaker
    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).
    Wouldn't that be great? You're sat in the pub with your mates (probably not really but you get the point), and someone says "there's always someone better off than you". And you could say "actually there isn't".
  • 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...



    Then you go on to explain why you've done this deliberately to prove your point:

    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.

    No I think that is fine. You state what you think and did not refer to me in any derisory way. I did not deliberatly mislead but guessed not many would read the post before thinking I was a WUM like the posters mentioned.
  • !!!!!!? wrote: »
    . 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'.

    I wish you all the best,
    Out of intrest how much do you think you will need to save to be mortgage free and how long will that take to achive?
  • moggylover
    moggylover Posts: 13,324 Forumite
    wymondham wrote: »
    Depends what you call the 'credit crunch'. If it's obtaining a mortgage etc, then no, not all are effected, but some broaden the term to include increases in fuel/food, and this does effect everyone - directly and indirectly.

    I am positive about all this, house prices will fall and young people will be able to buy once again....


    Not necessarily - because if house prices crash as badly as many on here are hoping they will - then the economy will be so f***** that most of those young people will not only not be able to afford to buy - but may not even have jobs!

    TBH - what we also need is to see first time buyers becoming less greedy in what they want to buy first time! I have had first time buyers coming to see houses that for most of us older house owners were third or fourth time buys - not what you started on the ladder with!

    No flats or grotty old places in need of repair for the young first timer these day - nope they want the one that others slaved. saved, and went without for years for - and many of them want all that whilst they already have a child/children in tow and would not give up their fancy car or any of the other paraphanalia that is so necessary to the youthful ego these days!

    When I first bought in the early 80's, I could not have dreamt of buying a HOUSE! It was a flat first, and a grotty one not a fancy one, which I had to spend a lot of time and effort on (and as little money as possible) in order to make nice and increase my profits on. Nowadays, my friend who is an estate agent tells me that first time buyers will not even LOOK at these properties - they tell the agents they want a new build, 3 bedroomed house with garden, large drive and garage and look absolutely horrified if they cannot find that within their price range. Most of the tatty old houses (that in my area go on the market at £80K - £100K are bought by older people who have been in the market for some time and know that there is (or at least was) money to be made from doing this a few times, or that you get a house that is what you want and what you made of it by doing this.

    I completely agree that house prices had become ridiculous - but the even more ridiculous part of those prices were the 100% (or more) mortgages and all the cool new "stuff" that had to be had to go with them.

    When the bulk of the first time buyers start recognising that you climb a ladder one step at a time, and not from half way up in the first place - instead of being jealous of those that have worked their way up from the dumps to the beautiful - THEN I personally will have a little more sympathy for them.
    "there are some persons in this World who, unable to give better proof of being wise, take a strange delight in showing what they think they have sagaciously read in mankind by uncharitable suspicions of them"
    (Herman Melville)
  • :T moggylover.

    I was lucky, secured a good job and purchased a house in 2001 mid 20s with my other half (we rented a maisonette before that).
    But I agree when I sold it I had people of 21ish coming to look and some even had the cheek to say it was not quiet big enough (3 bed semi, which did make me laugh though.)
    I am in my thirties now and now have my forever house and feel very privilege and lucky as some people my age still have not been able to buy (hopefully soon). But there are some out there who think a house is there right.
  • lostinrates
    lostinrates Posts: 55,283 Forumite
    I've been Money Tipped!
    moggylover wrote: »
    Not necessarily - because if house prices crash as badly as many on here are hoping they will - then the economy will be so f***** that most of those young people will not only not be able to afford to buy - but may not even have jobs!
    I'm starting to see a few places we could buy now with an under 50% mortage.
    TBH - what we also need is to see first time buyers becoming less greedy in what they want to buy first time! I have had first time buyers coming to see houses that for most of us older house owners were third or fourth time buys - not what you started on the ladder with!

    I'd be on a second or third house had I bought a few years ago. But life meant we travelled for work etc. I could buy a one bed flat...but it would not be appropriate now we are starting a family. Before people started hopping up the ladder they bought once or twice (DH was born in his mother's forst home which was only sold after her death)
    No flats or grotty old places in need of repair for the young first timer these day - nope they want the one that others slaved. saved, and went without for years for - and many of them want all that whilst they already have a child/children in tow and would not give up their fancy car or any of the other paraphanalia that is so necessary to the youthful ego these days!
    I'd love a fixer upper. I have highly individual taste, plan to stay a while in anything I buy (rather than hopping up a ladder) and so see my decor as a choice not an improvment to my investment. Unfortunately all the fixer uppers seem to be gone or priced more expensively (works budgeted for) for the uick hobby developer market (I had a long chat with the head of a prestige agency about this during the boom and he admitted this was so and they love fixer uppers to price). I RESENT paying for other people's poor finishes sold as a finished 'product in fact'

    Most of the tatty old houses (that in my area go on the market at £80K - £100K are bought by older people who have been in the market for some time and know that there is (or at least was) money to be made from doing this a few times, or that you get a house that is what you want and what you made of it by doing this.

    where are these houses? I'd like one! And the second point about the money to be made....hmm, FTBs are greedy are they? No, people just want their mney to work for them, whereever in the chsin they sit.
    I completely agree that house prices had become ridiculous - but the even more ridiculous part of those prices were the 100% (or more) mortgages and all the cool new "stuff" that had to be had to go with them.

    So do I;)
    When the bulk of the first time buyers start recognising that you climb a ladder one step at a time, and not from half way up in the first place - instead of being jealous of those that have worked their way up from the dumps to the beautiful - THEN I personally will have a little more sympathy for them.

    But we ARE now half way up! DH is in the top tax bracket, we need to think about having kids, starting in a one bed flat would be ridiculous for a lot of FTBs ho are in early thirties late twenties, not fresh out of school in a first job. IMO the ladder view as PUSHED those prices up more than 'necessary'. I agree buy what you need and can afford.
  • wolfman
    wolfman Posts: 3,225 Forumite
    moggylover wrote: »
    When the bulk of the first time buyers start recognising that you climb a ladder one step at a time, and not from half way up in the first place - instead of being jealous of those that have worked their way up from the dumps to the beautiful - THEN I personally will have a little more sympathy for them.


    That's a bit of a generalisation. And quite ridiculous as well. People will only pay what they think is acceptable for something. £250k for a single bedroom, small, box-like ex local authority flat in a bad area on the outskirts of london is a tad expensive in my opinion. And I don't think that's me being ridiculous in my demands as a FTB.

    Even if a FTB could buy somewhere now, they'd have to get a ridiculous mortgage, and their place would most likely lose value the following month so they'd be into negative equity straight away. It is possible to buy now, but it's not necessarily the best thing to do.

    Another problem is, so many people tried making a fast buck by doing a "changing rooms" on most flats available that there aren't as many "grotty" flats to be done up. Instead you have to pay more, for something done badly.

    I'm quite happy for the house prices to keep dropping. In doing so they're at least becoming a little more aligned to earnings. I'm not looking for a house, or luxury flat, or even sympathy.
    "Boonowa tweepi, ha, ha."
  • WTF?_2
    WTF?_2 Posts: 4,592 Forumite
    I wish you all the best,
    Out of intrest how much do you think you will need to save to be mortgage free and how long will that take to achive?

    I already have enough to buy a typical FTB (2 bed terrace) house outright should prices come down to 2005 levels where I live. At the moment they have tumbled, though I'd still have to take out a small mortgage to buy such a place. I'd say they'll be at 2005 levels sometime in early 2009. Maybe even as soon as the end of the year.

    Should they hit 2003 levels I'm looking at buying a 3-bed semi with a garage and a garden in a nice area - for cash.

    By the end of 2010 I should have more than 20k more in the bank and prices could well be down to 2003 levels. Even if they aren't quite that far, chances are that a 1x salary loan would get me a very good property indeed.

    If I keep my job - I'm quids in. :j

    If I lose my job I have substantial savings to fall back on while I look for work and I don't have to worry about paying a mortgage on a house which could be worth less than I borrowed to buy it.

    More likely, in such an event I will go for an extended bit of travelling and spend some time in cheap, sunny countries where I can live a very pleasant and stress-free lifestyle for less than it would cost to subsist in the recession-hit UK. I'll come back when things start to pick up, hopefully having acquired some language skills.

    The only real worry at the moment is of a bank bust destroying my savings, a large proportion of which are held abroad. I may well diversify some of those into gold to hedge against inflation. The sterling part will be transferred shortly into NS&I tax-free certs since I've figured out that this year I'll be in the 40% tax band, wiping out those nice 6%+ interest rates I'm getting on my pounds.
    --
    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.
  • SingleSue
    SingleSue Posts: 11,718 Forumite
    Part of the Furniture 10,000 Posts Name Dropper Photogenic
    Me positive?

    Nah, I am a realist bordering on a pessimist! :rotfl:

    I find it works better for me to expect the worse and then be nicely surprised when it works out better! :T
    We made it! All three boys have graduated, it's been hard work but it shows there is a possibility of a chance of normal (ish) life after a diagnosis (or two) of ASD. It's not been the easiest route but I am so glad I ignored everything and everyone and did my own therapies with them.
    Eldests' EDS diagnosis 4.5.10, mine 13.1.11 eekk - now having fun and games as a wheelchair user.
  • mewbie_2
    mewbie_2 Posts: 6,058 Forumite
    1,000 Posts Combo Breaker
    SingleSue wrote: »
    Me positive?

    Nah, I am a realist bordering on a pessimist! :rotfl:

    I find it works better for me to expect the worse and then be nicely surprised when it works out better! :T
    Yeah... I'd rather be surprised on the upside than the downside.
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