How do I get my Dad off my back?

penguine

duchy wrote: »

My feeling is that once prices are percieved to have bottomed out there will be a rush to buy from everyone currently waiting and that will push prices up with demand outweighing supply again.

That's going to depend an awful lot on mortgage availability and unemployment figures. Not everyone currently waiting is going to be in position to buy once prices are perceived to have bottomed out (and not everyone is going to agree when they bottom out either). So I doubt everyone will be diving back into the property market at the same time.

penguine

the_ash_and_the_oak wrote: »

fwiw think you are right that sentiment is still comparatively high re: houses tho

I think it is too at the moment, but whether sentiment will still be high in a few year's time is another question.

chucky

JayScottGreenspan wrote: »

Originally Posted by chucky
it would be great to see that same graph with interest rates too




Clearly low interest rates and rising unemployment exert pressure on house prices in different directions.

I wonder which factor Laurel and Hardy here think will prevail in the next 12 months?

they clearly do hence why you posted the one-sided historical grap - i'll leave it to you to go back to HPC.co.uk to get us some more info

chucky

penguine wrote: »

That's going to depend an awful lot on mortgage availability and unemployment figures. Not everyone currently waiting is going to be in position to buy once prices are perceived to have bottomed out (and not everyone is going to agree when they bottom out either). So I doubt everyone will be diving back into the property market at the same time.

i don't disagree with you here but i also bear in my mind the early 80s recession and how long it took for house prices to increase (not recover to previous levels but increase)

lostinrates

A lot is coming down into the 500k ish bracket from above right now, that I'm following anyway.

Our feeling is that its the right time to be looking and if you find the right thing to go for it, but the worng time to go for a short term purchase. That said, we've felt like that through out...more or less. Sometimes with more confidence, sometimes less.

JayScottGreenspan

chucky wrote: »

they clearly do hence why you posted the one-sided historical grap - i'll leave it to you to go back to HPC.co.uk to get us some more info

It was a link to an MSE thread, actually.

You seem very happy to dismiss any info that doesn't fit in with your view. Good luck with that.

morg_monster

Gorgeous_George wrote: »

Tell your dad that you will look at your options again in 6 months. If he asks again, restart the 6 months counter.

GG

Ahh that is what my dad used to say when we asked for some treat on a day out... "when can we have an ice cream?" "half an hour after the last time you mention ice cream..."

izzybusy23

dazeruk wrote: »

What do I say to my Dad to get him off my back?

Tell him to mind his own business? That £20k may well be lost in a few years if you go into negative equity if you bought now... why do parents always think they know best?

inspector_monkfish

izzybusy23 wrote: »

Tell him to mind his own business? That £20k may well be lost in a few years if you go into negative equity if you bought now... why do parents always think they know best?

so unfair !! :mad:

izzybusy23

Dan: wrote: »

You should listen to your dad.

The usual desperate doomers will say 'wait', but that's only because their salary is insufficient to buy even at today's prices. You should show your dad this thread, it will give him a good laugh.

Remember prices have fallen 20% - this is already as much as the 90s crash, and the signs are the bottom of the market is near. You could wait 12 months but prices are unlikely to fall by a significant amount during this time (maybe 10% if your lucky), but you run the risk of missing out on the current low-interest mortgage products that are currently available.

Your dad is right, start registering with Estate Agents and, depending on your area, aim to get 6-10% off the asking price while it's a buyers market.

You reverted back to bull status again?.... last week bear, this week bull..:rolleyes: