Why FTB should Resisit buying now and Save instead! explained

whathavewedone

I can see the logic in what you're saying Kenny. Property prices are going down faster than in previous recessions and there comes a point when people who have cash are going to want to invest particularly as interest rates are so low which makes saving unattractive.

There are a lot of people that made huge amounts of money in the boom just waiting for somewhere to put it so they can carry on making money.

What I think will stop is the little buy to letters as many will have got their fingers severely burned in this recession. Not all though. I know a few people who went out to buy milk and ended up getting another flat to let to students. Because they bought at the right time, bought in the right places and didn't over extend themselves they have made a lot of money. Yeah I'm quite jealous of them in their 500k houses with no mortgage and other properties bringing in rental income. They will be looking to buy more flats once the market falls further. If people like you and they are then you can bet that the developers with big portfolios are looking to get back in too and that will ultimately cause prices to rise.

The tightening up of lending will prevent a boom like we have just had but I see no reason why we shouldn't see rises from 2011 onwards given the rate that property is falling at. If the market falls another 20% this year and cash buyers can secure further discounts then we will soon see the bottom.

tb1105

Me and my boyfriend are FTB and hope to have £20k saved for a deposit next year. The max. mortgage we want is £140k due to the repayments but we have NO idea when to buy so we are sitting tight renting with his Dad and saving what we can. All we know is the more we save, the less we repay and the more of our home we will 'own' but we also realise we need to buy at the right time before the prices go back up too much because at the moment we could get a nice 2 bed for £140k whereas 2 years ago it would have got us a small 2 bed flat!

davilown

tb1105 wrote: »

we could get a nice 2 bed for £140k whereas 2 years ago it would have got us a small 2 bed flat!

So a four bed detached house next year then!

pandamonia

I think people overestimate how much liquidity there is in FTB's pockets. the country has never been in so much personal debt with easy loans and credit cards. i think this will have a bigger effect on the slow revivial of housing market than the ammount of cash rich buyers who are snapping up homes.

Really2

pandamonia wrote: »

I think people overestimate how much liquidity there is in FTB's pockets. the country has never been in so much personal debt with easy loans and credit cards. i think this will have a bigger effect on the slow revivial of housing market than the ammount of cash rich buyers who are snapping up homes.

Too right...........


How is your £35K BMW on £700 Per month finance.:D

chucky

Really2 wrote: »

Too right...........


How is your £35K BMW on £700 Per month finance.:D

that's a lot of finance on a very, very highly depreciating asset

pandamonia

ess0two wrote: »

You've told too many lies in previous posts,Jackanory

quote my posts and ill prove what i said was true, idiot.

this is directed at confused and really2 or what ever their names are.

both of them are just a pair of dicks.

pandamonia

chucky wrote: »

you'll see that I Thanked your post.

it's because I spat my coffee out when reading your angry post.

chill - it's only an Internet forum!!

dont worry it wasnt directed at you.

pandamonia

Really2 wrote: »

Wow showing your colours now. what lovely names you must call disabled people:rolleyes:




So are you lying you earn over £40K as you have a car allowence(If you did £700:rotfl: )
Or are you lying about your car, or lying you even own the car.

which lie is it? sounds like £700 coming out of your wages to me.

i get paid car allowance on top of my salary. which pays for my car plus i make money on the 40p per mile they pay me. the car will be paid for within 3 years from purchase so what ever its worth will be mine so therefor can be considered money Asset value / 3 = £ per year on top of my normal yearly package. the car is mine so is the debt but as long as they pay me the 12k per year allowance its covered.

Really2

pandamonia wrote: »

i get paid car allowance on top of my salary. which pays for my car plus i make money on the 40p per mile they pay me. the car will be paid for within 3 years from purchase so what ever its worth will be mine so therefor can be considered money Asset value / 3 = £ per year on top of my normal yearly package. the car is mine so is the debt but as long as they pay me the 12k per year allowance its covered.

:rotfl:

£1000PM car allowance + 40p per mile.
On a BWM M3 (how much is your services and tires and brakes etc?):rolleyes:

By By anyway your last post was reported.
You can go back to.

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