FTB's and buying now..

WTF?_2

Dan: wrote: »

Yes but, assuming it dosent affect you, wouldn't mass unemployment and recession considerably help towards your goal (and !!!!!!'s) of buying a house outright?

!!!!!! does that have to do with the price of tea in China?

Recession and increased unemployment are coming irrespective of anything I or anyone else wanting to see cheaper houses does :rolleyes:

If you want to blame someone or something for the storm that's coming, blame the mentality of the crazy housing bubble .. which caused the credit crunch when all the loony lending resulted in the inevitable defaults.

What is it about the housing bulls that they have to personalise everyone who tells them the bad news as wishing economic misfortune and redundancy on others? Do you have some sort of personal stake in this Dan, an expensive mortgage to pay or BTLs which you are having to subsidise? If so, don't shoot the messenger.

lethal0r

surely the worst time to buy was anytime in 2007 & the first few months of 2008. now you have a good chance to get 20% off, back then it would be unlikely.

Dan:_4

!!!!!!? wrote: »

!!!!!! does that have to do with the price of tea in China?

Recession and increased unemployment are coming irrespective of anything I or anyone else wanting to see cheaper houses does :rolleyes:

If you want to blame someone or something for the storm that's coming, blame the mentality of the crazy housing bubble .. which caused the credit crunch when all the loony lending resulted in the inevitable defaults.

What is it about the housing bulls that they have to personalise everyone who tells them the bad news as wishing economic misfortune and redundancy on others? Do you have some sort of personal stake in this Dan, an expensive mortgage to pay or BTLs which you are having to subsidise? If so, don't shoot the messenger.

I have 1 mortgage and can afford the SVR payments with ease. Im not stupid enough to get into BTL (to much stress for me anyway). Im not a fan of HPI whatsoever and welcome the recent price falls - im looking forward to trading up in few years.

So I guess my personal stake in all this is hoping the value of my house don't go lower then what I paid for it!

Sometimes your posts seem to relish any sign of mass unemployment and recession. I dont know, maybe If I was in your shoes and waiting in the wings with a large stash of cash - I would be too.

WTF?_2

Dan: wrote: »

I have 1 mortgage and can afford the SVR payments with ease. Im not stupid enough to get into BTL (to much stress for me anyway). Im not a fan of HPI whatsoever and welcome the recent price falls - im looking forward to trading up in few years.

So I guess my personal stake in all this is hoping the value of my house don't go lower then what I paid for it!

Sometimes your posts seem to relish any sign of mass unemployment and recession. I dont know, maybe If I was in your shoes and waiting in the wings with a large stash of cash - I would be too.

Mass unemployment and recession would screw me up too - just not nearly as badly as someone with no savings. The savings give me some nice options if I was to find myself out of work, at least. However, financial system implosion and banks going bust risk me losing my savings which currently are all in cash. Not risking investing at this point though I am about to buy some gold - probably 10% of my savings' worth as soon as I can talk myself into it.

Dan:_4

!!!!!!? wrote: »

Mass unemployment and recession would screw me up too - just not nearly as badly as someone with no savings. The savings give me some nice options if I was to find myself out of work, at least. However, financial system implosion and banks going bust risk me losing my savings which currently are all in cash. Not risking investing at this point though I am about to buy some gold - probably 10% of my savings' worth as soon as I can talk myself into it.

So all your savings is in cash? Surly that is more risky then a bank, even in todays markets?

Never thought about investing in Gold myself - don't think i'll have the guts either!. Good luck - and I mean it.

GDB2222

lethal0r wrote: »

surely the worst time to buy was anytime in 2007 & the first few months of 2008. now you have a good chance to get 20% off, back then it would be unlikely.

Very true. However, prices are falling at 2% a month at the moment, so you'll still get your 20% off in a year's time, but possibly off a price that is 20% lower than today's.

WTF?_2

Dan: wrote: »

So all your savings is in cash? Surly that is more risky then a bank, even in todays markets?

Never thought about investing in Gold myself - don't think i'll have the guts either!. Good luck - and I mean it.

When I say cash - I mean 'cash in the bank'. Which actually as you've pointed out, isn't real 'cash'. As you say, still safer than holding physical cash ... hopefully.

Jennifer_Jane

obsessed_saver wrote: »

Exactly!

What if it was the other way round, the rent is £100 and the mortgage interest is £400? (Just re-using your numbers, but the point is to illustrate that mortgage interest is higher than rents in most places these days).

Would you still buy?

Understand what you're saying, but I would still have bought (if at all possible). It might have been a smaller house in a different area. I bought the best I could afford at the time, closest to work (it's a 25-30 minute drive away. I would definitely have bought as I was used to having my own house (not in the UK though). I would never have rented. To each his own, but I love having my own place.

Jen