How do I get my Dad off my back?

izzybusy23

inspector_monkfish wrote: »

so unfair !! :mad:

Why is that an unfair quote? Why should he have to rush in and buy just because of pressure from his dad? Who knows how much money he could lose if he bought now.. nobody has called the bottom yet and I feel it still has some way to go.

Ron2256

JMW77 wrote: »

I actually disagree with most of the posters on here ,you have a great deposit there are lot of bargains out there you could get a really good deal.

For example you could buy a house worth £140,000 for probably 120,000 or 127,000 whatever,prices may drop a little further but not much,and then the housing market will recover again probably very slowly but in the right direction.
In my opinion its the right time to buy while people NEED to sell get yourself a bargain find out from estate agents who's desperate and go and have a look.
You may as well start looking!

I don't think you are being logical here.
The fact that the house was worth a lot more in the past (at peak) makes no difference to the appeal of the house at today's price.
£140,000 was 2007 price/worth for the house and today's market price is 120,000 or 127,000. This is not a bargain if you are paying market price. Looking back, the 2007 price was just inflated even though this was the market value back then.

If you bought today and in 6/12/18 months time the price go down again by another 10/20/30K, would you still say you got a ''bargain'' in 2009?
I don't think so.
You only get a bargain if you can buy a place well under market value at a given time and if the price doesn't go down even further subsequently.
So you will only know if you bought a bargain or a lemon in 5/10 years time.

chucky

JayScottGreenspan wrote: »

It was a link to an MSE thread, actually.

actually it's not from another MSE thread it's from a blog - so i guess it must be 100% true http://www.pyrosoft.co.uk/blog/wp-content/uploads//2009/04/unemployment-house-prices-1975-2008.png

JayScottGreenspan wrote: »

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

i didn't dismiss it at all - my comment was that it would show a different perspective if it showed interest rates too.

obviously a perspective that wouldn't be of interest to people who are [STRIKE]expecting,[/STRIKE][STRIKE] hoping,[/STRIKE] [STRIKE]wishing,[/STRIKE] dreaming for house prices to drop by 70%.

inspector_monkfish

izzybusy23 wrote: »

Why is that an unfair quote? Why should he have to rush in and buy just because of pressure from his dad? Who knows how much money he could lose if he bought now.. nobody has called the bottom yet and I feel it still has some way to go.

calm down dear...

it was just a p take,
meant to be in the attitude of a stroppy child, as you were talking about parents always thinking they know best ......!!

kind of like Kevin the teenager (harry enfield)

JayScottGreenspan

chucky wrote: »

actually it's not from another MSE thread it's from a blog - so i guess it must be 100% true http://www.pyrosoft.co.uk/blog/wp-content/uploads//2009/04/unemployment-house-prices-1975-2008.png

Well either the figures have been fabricated in some way or it is 100% true.

Factor in interest rates and I reckon house prices have another 10-15% to fall. Admittedly, that graph alone would suggest a higher figure.

chucky

JayScottGreenspan wrote: »

Well either the figures have been fabricated in some way or it is 100% true.

Factor in interest rates and I reckon house prices have another 10-15% to fall. Admittedly, that graph alone would suggest a higher figure.

that was my point about the graph it skews it a bit but in saying that it's better than having no information at all; our views don't differ very much - mine is just under 10% which ever index we choose.

McKneff

Joeskeppi wrote: »

"scouse" in the username, I wouldn't expect anything less.

I thought that too but as i was complaining about him insulting someone he didnt know i thought better of it. And thanks;)

JayScottGreenspan

chucky wrote: »

that was my point about the graph it skews it a bit but in saying that it's better than having no information at all; our views don't differ very much - mine is just under 10% which ever index we choose.

Fair 'nuff.

JMW77

To RON2256

You did'nt read my post properly ,i said a house worth £140,000 in todays market not 2007 where did you get that from .
If i see a house on the market it IS priced at todays market value so £20,000 of that i would be happy with , it allows the property to fall further .

JMW77

Anyway either way if i was renting, i would look now without a doubt a family member got their house repossessed in was on the market for £135,000 3 months before and sold for £100,000 i wanted to buy it to let it out but it sold fast. I knew it was immaculate and had loads of money spent on it! That was a real bargain.
Shame they spent too much time consolidating and getting themselves in debt.