Graph in 10 years time

crazygaijin

I dont want to look at a graph in 10 yrs time and say why o why didnt I just wait a few more yrs.

It would be great to buy just after the dip on the way up.

Dan:_4

crazygaijin wrote: »

I dont want to look at a graph in 10 yrs time and say why o why didnt I just wait a few more yrs.

It would be great to buy just after the dip on the way up.

It would be great - not very easy though.

You would also be doing well if you could time it with personal commitments e.g. family / marrage etc...

Really2

It would be nice to know the lottery numbers or the Grand National result before it happened.

But it is not going to happen so you either have a punt or you don't
Win or lose be good enought to take a win as luck or a loss as unlucky or not play at all.
But also be man or woman enough to accept it was your own decission, thats life.

novazombie

The only way you will know the bottom is when we are past it.

But as we saw in Jan the line doesnt go straight down. There will be false bottoms.

Even if the line on the graph has gone up a bit there will still be bargins about the same price as the bottom.

I would prefer to buy 10% on the way up than 10% before the bottom.

So to wait is the wise thing to do.

ukcarper

novazombie wrote: »

The only way you will know the bottom is when we are past it.

But as we saw in Jan the line doesnt go straight down. There will be false bottoms.

Even if the line on the graph has gone up a bit there will still be bargins about the same price as the bottom.

I would prefer to buy 10% on the way up than 10% before the bottom.

So to wait is the wise thing to do.

Does it really matter same price

Really2

ukcarper wrote: »

Does it really matter same price

Also to add you are more likely to get a below bottom price on the way down than the way up.

People will discount more when prices are falling than rising.
But that is only relevent if you want to get a house at the very cheapest price.

chewmylegoff

ukcarper wrote: »

Does it really matter same price

well, depends how you're quoting the figures.

if prices fall, say 30% from peak, then they need to increase by 43% from the bottom of the market to reach the same price as they were before, not accounting for inflation.

penguine

The bottom will probably last a few years. It did last time around. And even when prices start to rise, there will still be bargains to be had. The previous owner of our flat wanted to sell in 1995, but couldn't. He rented it to my OH instead. In 1998, still wanting to get rid of it, he sold it to OH at the 1995 price. Locally prices were already starting to rise -- OH viewed other properties before purchasing but other flats at the same price were much smaller. Ours was in poor condition and needed a lease extension which is probably why it was more difficult to sell at the bottom of the market.

IveSeenTheLight

ukcarper wrote: »

Does it really matter same price

It would, depending on the timeframe, it could be quite a bit of rent paid between the two

IveSeenTheLight

chewmylegoff wrote: »

well, depends how you're quoting the figures.

if prices fall, say 30% from peak, then they need to increase by 43% from the bottom of the market to reach the same price as they were before, not accounting for inflation.

But sticking to the 10% figure, if it drops 10%, it would need only to rise 11.11%

novazombie

So all the smart ones will wait until we are obviously over the resession.

I am sitting on my cash waiting for the bottom.

It doesnt stop me looking before then though and maybe putting in some silly offers trying to buy at next years prices.