Why FTB should Resisit buying now and Save instead! explained

davilown

Kenny4315 wrote: »

3% isn't a boom and neither is 10%. If you wait 8 years you WILL be crying about it. Houses are a different commodity to other resources, 2% for 5 years, with no alternative investment opportunity is just out of the question.

Yes you're right, they are a different commodity - you make much less money on them than if you invested is 'safe' shares.

Kenny4315

I'll have a total, debt of around £750k, but property worth £2.5m, all making money even by the lowest estimates, excepy obviously my main residence, by the time I have made my purchases and rearranged my debt at what I see as the bottom of the market this August. That's betting but I won't be losing.

tommy75

I wish my car was worth 4 times more in 4 years!

We need a big war or some national food shortages to get everyone over the bloody house obsession.

davilown

confused31 wrote: »

.
So get saving and keep your fingers crossed, if your right about house prices going down, i might pip you to the finishing line and buy your ftb property to let out.

:T
:rotfl:

confused31_2

davilown wrote: »

I'm I believe there will be another 10-15% drop in 2010 before the market settles out.

And is suppose that will be when you are ready to buy.:rotfl:

get rid of your debts first, i suppose 100% mortgages will be back then aswell, just so you can buy a house.:rotfl:

Kenny4315

davilown wrote: »

True market value of the average home in the UK

Is effected by much more than just salary, and is subject to greater movement than other commodities, as we have seen in the latest round of HPI and HPC. You will find investors who have sold at peak are waiting with nothing to do with the ill-gotten gains, shares (unstable), bonds, bank accounts, poor returns, etc. Close to the bottom houses are looking more and more attractive, by the day, and will be irrestible following another 20% fall, plus negioation.

The essence of making money out of houses is timing, pure and simple, buy at the bottom and sell at the peak, making sure if you intend to hold through crashes that your portfolio is not debt burdened to an extent that in the event of a crash your scr£wed.

davilown

confused31 wrote: »

And is suppose that will be when you are ready to buy.:rotfl:

get rid of your debts first, i suppose 100% mortgages will be back then aswell, just so you can buy a house.:rotfl:

My debts have 8 months left to go, OH just started work, so reasonable to say we'll have £25000 by August 2010. Should equate to a 15-18% deposit. Oh and no chance of jobs losses in this household due to the current climate

confused31_2

If this story has any truth in it, things could be changing sooner rather than later.

http://www.fool.co.uk/news/property-home/mortgages/2009/01/30/the-return-of-first-time-buyers.aspx

The thing is if a few first time buyers comeback, the rest of the first time buyers will get itchy feet and this could kickstart the market again.

Im not bothered about how much money i will get for my home, i just want the market to get moving so i can upgrade.

confused31_2

davilown wrote: »

Oh and no chance of jobs losses in this household due to the current climate

yeah but you dont own a house, so why are you going on about households, isnt it your landlords, or do you live with mommy and daddy???:p

davilown

confused31 wrote: »

yeah but you dont own a house, so why are you going on about households, isnt it your landlords, or do you live with mommy and daddy???:p

No I rent my place and the government won't sell up!