House prices are close to affordable levels, reveals survey... BUY!! BUY!!! BUY!!!

Realy

chucky wrote: »

without dragging this out and without getting into too much of a debate with you but I'd rather go by the 'indicator' that the Halifax figures provide than what Carol (who lives in a small village in the middle of no-where by her own admission) tells me who continously disregards facts and figures given to her - IveSeenTheLight and Realy have done this a number of times, however these same figures are then used to back her argument when a HPI poster is around.

.

To add to that they give a better general idea of affordability than one property price.
A reposession in a bad are could easily back up an affordability argument but figures for an area are fairly sound as a ball park.
Their will be cheaper ruffer areas to all towns but without going to street level it is hard to argue as one street can be more expensive than another (infact next doors house coul be more) but they still contribute to a towns average property cost.

chucky

this is the thing - one made up property price of a friend of a friend that Carol may have against the Halifax numbers (that she has quoted a number of times when mocking a HPI poster).

it just doens't make sense - but then i guess every village must have one

carolt

Yawn.

As I said, it wasn't just one friend - my knowledge was based on a large number of properties I viewed or friends bought.

chucky still has problems differentiating between figures for a borough and figures for an area within the borough, from which it takes its name. He has not produced any local figures which any way disprove my point.

His inability to understand the difference doesn't mean 'the figures are right, carolt is wrong' - they mean chucky is trying really hard to win an argument by ignoring any evidence that doesn't fit his theory.

Or that he really is that dim?

Surely not. :eek:

IveSeenTheLight

chucky wrote: »

this is the thing - one made up property price of a friend of a friend that Carol may have against the Halifax numbers (that she has quoted a number of times when mocking a HPI poster).

it just doens't make sense - but then i guess every village must have one

No need to turn into a slagging match.

Specific history on a property is extremely good info, IF you are interested in that property.
It can give a guideline to other similar properties in that street / area BUT it is only a guideline and not necessarily fact as it depends on the condition of the property and whether the seller is distressed or not.

HammersFan

carolt wrote: »

I don't mind waiting.

That much is obvious. 12-13 years from starting looking, and still not buying. In the area that you live porces simply will not bomb. Don't you feel it will now that it might never happen, that maybe buying is not for you? It certainly explains why you appear so keen for others not to buy. Buying is a tough decision, and perhaps one you are not prepared to ever make?

I would advise a large pension pot to cover renting during retirement. Although I know what you think of my advice so I shall get my coat.

carolt

Hope you've got your coat!

I have indeed been looking to buy for a long time, and did indeed very nearly buy several times during that period. By a combination of accident and design, we didn't.

Undoubtedly, had I bought at the beginning of that period, I would now be better off financially. Equally, had I bought at the end of that period, I would now be considerably worse off.

In financial terms, it was definitely a mistake not to buy a long time ago (though not in personal terms - see my earlier post on this subject).

But to make the same mistake twice, but in reverse - to fail to buy when prices are low, and wait until they're really high and just about to crash! to buy - would be absolutely unforgiveable. :eek:

Frankly, if I've waited 12 years or whatever, then waiting another year or 3 isn't going to make a huge impact on my lifestyle - and will probably have a very, very positive effect on my finances long-term.

So remember, fellow FTB's - just WAIT.

Buying now isn't big and it certainly isn't clever.

HammersFan

carolt wrote: »

So remember, fellow FTB's - just WAIT.

Buying now isn't big and it certainly isn't clever.

If you have a decent deposit, get a good reduction, and go on a BoE linked tracker, it could be a decent punt right now i'd say. What's life without a bit of risk.

Or you could wait 13 years and be financially worse off.

chucky

IveSeenTheLight wrote: »

No need to turn into a slagging match.

Specific history on a property is extremely good info, IF you are interested in that property.
It can give a guideline to other similar properties in that street / area BUT it is only a guideline and not necessarily fact as it depends on the condition of the property and whether the seller is distressed or not.

thanks but specific history on a property is extremely good info - but not when you randomly make facts up. Camden Town in that time was pricing one bed flats at around £110k, Chalk Farm around the same price.

providing average prices in a borough is better than providing one peice of information from a 'friend'

definately no need to turn it into a slagging match but providing data from the Halifax figures that she babbles on about frequently is much better, don't you think?

chucky

carolt wrote: »

Undoubtedly, had I bought at the beginning of that period, I would now be better off financially. Equally, had I bought at the end of that period, I would now be considerably worse off.

This is probably the worst financial decision of your life... even now waiting for the market to turn is just as bad. Do you ever look back and think that you should have bought? It must be very painful.

carolt wrote: »

Frankly, if I've waited 12 years or whatever, then waiting another year or 3 isn't going to make a huge impact on my lifestyle - and will probably have a very, very positive effect on my finances long-term.

12 years is a long time to make a financial decision - if you haven't managed to make it yet, you'll never do it because you'll have retired and will still be paying rent; big question here is - do you think that your pensions cover the rent? The way that the Index's and Equities are performing it doesn't look that way...

carolt wrote: »

So remember, fellow FTB's - just WAIT.

Buying now isn't big and it certainly isn't clever.

WAIT for 12 years is definately not big and it isn't clever. hope that you get on the property ladder soon Carol otherwise it will be you getting your coat...

Max_Headroom_3

chucky wrote: »

This is probably the worst financial decision of your life... even now waiting for the market to turn is just as bad. Do you ever look back and think that you should have bought? It must be very painful.

Chucky, my old fruit, quick pick up a paper, turn on the news. Sorry to shock you like this but the market has turned. Prices are dropping. Did nobody tell you?

WAIT for 12 years is definately not big and it isn't clever. hope that you get on the property ladder soon Carol otherwise it will be you getting your coat...

Why would she want to get on soon if prices are dropping fast?

You have some bizarre logic going on there mate.