Feeling despondant

carefullycautious

Hi all this is only my second posting, the first saw me shot down in flames for admitting to renting all my life and saving enough to enable me to buy if prices drop sufficiently thus giving back the last of the LA properties we have lived in so another family may benefit (we could have been greedy and bought our home for pennies but knew that there would be a shortage of affordable homes so decided morally that we would hand back. However, after reading numerous posts on here Im wondering if it is wise to part with my savings if the economy is going to cause a shortage of everything and push prices for food/necessities up. Im not looking for a great big country pile just a small 1-2bed bung we can call our own.From what I am reading things are looking very grim. What would you folks do in this situation? I realise that it is not only the buying but the maintainance plus all the extras in surveys etc which will not leave us a lot left. Oh decisions decisions

mewbie_2

carefullycautious wrote: »

What would you folks do in this situation?

wait. save. work hard.

neas

you can buy outright a house? oO

tesuhoha

You are right to be cautious. There are some not very nice people on these boards. I'm not sure what the right thing to do is but I don't think prices are at their lowest yet. I suppose it depends how secure your job is whether you buy or not. Please don't get in over your neck because to lose your home is heartbreaking. Good luck.

amcluesent

>Im wondering if it is wise to part with my savings<

No. Best stay in your current LA property while storm rages, don't look too 'rich' and work on the black, cash-in-hand to avoid tax. Hoard gold. That's how to survive in Clown's wrecked England; Army on the street soon enough.

DirectDebacle

carefullycautious wrote: »

Hi all this is only my second posting, the first saw me shot down in flames for admitting to renting all my life and saving enough to enable me to buy if prices drop sufficiently thus giving back the last of the LA properties we have lived in so another family may benefit (we could have been greedy and bought our home for pennies but knew that there would be a shortage of affordable homes so decided morally that we would hand back. However, after reading numerous posts on here Im wondering if it is wise to part with my savings if the economy is going to cause a shortage of everything and push prices for food/necessities up. Im not looking for a great big country pile just a small 1-2bed bung we can call our own.From what I am reading things are looking very grim. What would you folks do in this situation? I realise that it is not only the buying but the maintainance plus all the extras in surveys etc which will not leave us a lot left. Oh decisions decisions

This is a money saving forum. I do not know if this option is still available to you but in terms of moneysaving I would do this. Stay where you are and excercise your right to buy. You will buy the property at a favourable price and save money on removal expenses, legal fees, surveys etc. You have the advantage of knowing the property, the maintenance that has been done on it and the maintenance that needs to be done. To have all these advantages in buying for the first time is rare for most.

The moral issue you raise and which I deeply admire is one only you can resolve. However it was the Govt. that created this policy just for people like you to become property owners. Your L.A. are well aware of this.

In financial terms this is a buying opportunity to be seriously considered. Is it possible to reciprocate in the future. I mean at some point could you not sell it back to the L.A. at a discount to return it to their stock? Might help you with the moral side of it.

bo_drinker

> Army on the street soon enough< Not long now and it's all going to kick off. Stay put and batten down the hatches.

bo_drinker

bo_drinker wrote: »

> Army on the street soon enough< Not long now and it's all going to kick off. Stay put and batten down the hatches.

>There are some not very nice people on these boards< Really? you do surprise me............. NOT. There are some right bas7ards on here. :rotfl:

carefullycautious

amcluesent

Can you explain your post?

amcluesent

>Can you explain your post?<

Best stay in your current LA property while storm rages, - the economic collapse will destroy asset values, property prices will tumble again.

don't look too 'rich' - social unrest will spiral, anyone who behaves as if they have a few quid will be robbed blind

and work on the black, cash-in-hand to avoid tax. - Clown will send taxation skyrocketing to cover a decade of tax'n'bungle.

Hoard gold. - Clown is printing money. the ££ will soon be worthless

That's how to survive in Clown's wrecked England; Army on the street soon enough. - economic, political and social unrest will lead to widespread rioting and looting, the bizzies will lose control of the cities and they'll need the army to restore order. Clown will use the Civil Contingencies Act and Enabling Laws to suspend due process and demonstrators will be shot for failing to disperse when ordered to do so.

England will be like Zimbabwe. With fewer bananas.

bo_drinker

Been saying it for ages now. Riots are around the corner. BIG TIME. As I said not long now and it's all going to kick off