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My Worst Nightmare!!!!! Help
Comments
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actually ILW there isnt an awful lot about it depends where you live, and beleive it or not I am buying a house to be my home.
So, if I am buying sausages for my dinner, I don't need to worry about the price? (OK, maybe I'm starving, so I'll pay over the odds ...)
In this case, are you actually starving house-wise, or can you rent somewhere/stay wehere you are until you buy once house prices have fallen further?
It's worth having a look at this:
http://www.tfsbrokers.com/pdf/RISK&MANAGE/2009/Feb-09.pdf
It's a newsletter showing futures prices on the Halifax house price index. It's a market for banks and similar professionals, ie like the people selling the repo to you. See page 3. They are trading between themselves on the basis that house prices are expected to drop another 20% over the next year, with another 10% drop on top of that during 2010, and another 3% the following year. They may not be right, but you ought at least to think about the possibility that they are.
Even if your repo is at 10% below current market price, it's still likely to fall in value to around £100k-£110k over the next 3 years. (That's assuming it moves in line with national averages and of course that the professionals are right.)No reliance should be placed on the above! Absolutely none, do you hear?0 -
Interesting GDB2222 but I dont have much faith in the professionals as they didnt seem to know about this recession, and they still dont seem to know what to do to get us out of it. I dont make random decisions, I have considered alot of options before coming to this decision, this is a 4 bed house that we are hoping to live in for the next 10 years at least. I am not house starved and I dont believe I am paying over the odds. If you think that 4 bed detached houses are going to cost about 100k in 3 years time then I look forward to chatting with you then so I can give you a simple lesson in demand and supply.0
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Don't forget to drop up a message here when you finally relax in your new home
(sorry, no real advice... just that my house purchase was my worst nightmare too, but once it's done, it's really nice)0 -
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So, if I am buying sausages for my dinner, I don't need to worry about the price? (OK, maybe I'm starving, so I'll pay over the odds ...)
If you like sausages and want sausages for tea tonight and they are £1.45 you dont say to Mr Tesco's can I have those sausages for £1.30 then when he says no walk away saying they will be worthless tommrow.
Vince Cable is now on 5live I will listern to what he says before reading the drivel in that report.0 -
Also who's brave enough to predict what price sausages will be in 2011????
My guess is nobody as there are so many factors to consider it is too difficult, same as houses apart from the know it alls. You have to do what you as an individual feels is right.0 -
If I buy some sausages now, what are they likely to be worth in ten years when I may want to trade them in for some larger ones?0
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nothing as they are perishable unlike houses-they dont go off do they0
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Interesting GDB2222 but I dont have much faith in the professionals as they didnt seem to know about this recession, and they still dont seem to know what to do to get us out of it. I dont make random decisions, I have considered alot of options before coming to this decision, this is a 4 bed house that we are hoping to live in for the next 10 years at least. I am not house starved and I dont believe I am paying over the odds. If you think that 4 bed detached houses are going to cost about 100k in 3 years time then I look forward to chatting with you then so I can give you a simple lesson in demand and supply.
I think you've made your made your mind up, so I wish you luck, and I won't shake your conviction any further.No reliance should be placed on the above! Absolutely none, do you hear?0 -
What area is it in Kat?0
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