Sellers on strike

Really2

GracieP wrote: »

If you can't pay it off at a faster rate than the price is falling and your house isn't suitable for your long-term needs, then you are better off without it. If you end up in negative equity you can't move, and if your property is too small for you to have the family you are planning, for example, then you are in a better position if you don't own.

It's ok you can stop rubbing your hands;)

I purchased at 26.5% below April 08 price, should have around an extra 20% of falls before my £75K deposit is starting to be erroded by that time I ahould say I would have "paid off" a further 11.5% .
I should be OK for a bigger than expected "mainstream" falls.

GracieP

Really2 wrote: »

It's ok you can stop rubbing your hands;)

An awful lot of people I care about are stuck in this situation, I don't like how the future looks for them. We had a pretty big house but the area was absolutely crushing. It was fine when we used the house as a place to sleep while worked and socialised the majority of our time. But the thought of raising a family there was terrifying. It's 5 months since we moved and I still get a tightness across my chest when I think of living there. And at least if we had gotten stuck we had a large house.

A lot of our friends have small apartments in similar areas and most are in NE by now. (Most people I know bought in 06.) I'm really worried about what's going to happen to them. I'm far from rubbing my hands at the prospect of the next few years. I'm angry and I'm scared, but burying my head in the sand isn't the way to get through it.