Experts say wait 5 years to buy back into property

bryonyhines

I was thinking the very same thing yesterday, when did capitalism start? 1980? 1800? Roman times? Forever? I was going to look it up, but forgot. Anyone know? how can we learn from history on this one?

(to be fair, I just wanted to comment on some of those daft squabbles earlier in the thread, I had to laugh!)

A._Badger

bryonyhines wrote: »

I was thinking the very same thing yesterday, when did capitalism start? 1980? 1800? Roman times? Forever? I was going to look it up, but forgot. Anyone know? how can we learn from history on this one?

(to be fair, I just wanted to comment on some of those daft squabbles earlier in the thread, I had to laugh!)

I would suggest, FWIW, that what we can learn is that self-interest is hardwired and the best that politics or religion can do is mitigate its worst effects, to some extent.

Agreed about the squabbles, of course.

bryonyhines

Actually, I've made a decision. Waiting 5 years is better than waiting 2 years. Reason - If it falls further after 2 years, you lose money. If it rises again after 2, buy at 5 and all you loose is money you could have made.* (which is a risk I'm happy to take).

*This is based on prices not rising sharply after 2 years, plus the fact that it makes no difference when you buy as long as it goes up again before you want to sell.

Thanks MSE, this thread has helped me with a long standing question on my mind.

treliac

A._Badger wrote: »

I would suggest, FWIW, that what we can learn is that self-interest is hardwired and the best that politics or religion can do is mitigate its worst effects, to some extent.

Yes propensity for self-interest is, but people can become socialised, to a greater or lesser degree, to have empathy for each other and to appreciate the benefits of co-operation if this is instilled from an early age.

IMO beneficial socialisation has been happening less and less in society and we are seeing the results of the growth in egocentricity, which will become increasingly more damaging to us all if we don't implement a radical change of direction.

toja

An interesting thread. I understand all this discussion about the falling prices, however I am buying now because: I need bigger space (2 bed at least) and funnily enough I can hardly afford paying £800+ for 2 bed flat rent, but I can afford paying £570 mortgage for 2 bed flat which I am buying. Do you see the logics? Looks funny, but here you are!

tara747

Northern Ireland prices are already 40% down... and still falling!!! :beer::beer::beer: Keep your hats on my English/Scottish/Welsh friends, and have patience! I am not buying in till after the dust has settled... with the way the economy is going at the mo, that will be a while yet.

stephen163

Has anyone seen the headline on the front page of the express today? 'New Hope for House Prices'. I would be interested to know what new information they have to make this claim.

skap7309

stephen163 wrote: »

Has anyone seen the headline on the front page of the express today? 'New Hope for House Prices'. I would be interested to know what new information they have to make this claim.

They dont. A good tip for anyone not in the know. If ANY piece of information contains the words 'Stuart Law' and 'Assetz' take it as the mother of all VI ramping. He holds the crown hands down for this title.

Believe me, it is not the first and certainly not the last time we will see this from him or them.

StevieJ

tara747 wrote: »

Northern Ireland prices are already 40% down... and still falling!!! :beer::beer::beer: Keep your hats on my English/Scottish/Welsh friends, and have patience! I am not buying in till after the dust has settled... with the way the economy is going at the mo, that will be a while yet.

NI is totally different, the market is still finding a post Good Friday agreement level,
Hey a bit of a coincidence :cool:

stonethrower

stephen163 wrote: »

Has anyone seen the headline on the front page of the express today? 'New Hope for House Prices'. I would be interested to know what new information they have to make this claim.

Here's the link, as someone said above Stuart Law is a bit biased so Id take him with a pinch of salt.

http://www.express.co.uk/posts/view/94263/New-hope-on-house-prices