Halifax -1.7% MoM, 17.7% YoY, 22.6% down from peak.

the_ash_and_the_oak

StevieJ wrote: »

Why do the grizzleys think that there are everyday reasons to sell but not everyday reasons to buy

good post - totally agree w this btw

imo there are plenty everyday reasons to buy just same as sell - brits sure love their houses. ftbs would be lining up round the block if they could get the money.

its not that they won't want to buy - its more that they won't be able to raise the funds to support current levels imo

beingjdc

StevieJ wrote: »

Why do the grizzleys think that there are everyday reasons to sell but not everyday reasons to buy

I think it's much easier to hold off buying than hold off selling. Deciding to rent for another year is not that much hassle. Deciding to hang on to a deceased relative's empty house when three kids each want their share, or deciding as a bank to hold on to a repossessed property, or declining to take a promotion in another town just because you don't want to sell your house at a lower price than it would have fetched in 2007... are all fairly hard decisions, whereas "mmm, I could do with a house, but I can rent one" isn't really.

RDB

mitchaa wrote: »

I have another 14yrs until im 40, so couldn't care less what they did in between to be honest.

House number 1 will be paid off in 15yrs as will house number 2 between 40-55 (As i will have no rent or mortgage to pay) and if things turn out ok, house number 3 at the age of 55-68

On retirement, i still plan to live in house number 1, with house 2+3 as rental income or sell to provide a nest egg along with FSP.

That is the plan anyway and if i keep working there is no reason to suggest that i cannot achieve this. Yes i already have children to the chap that asked.

Im under no illusion that housing will ever be cheap as it never has been in the past and never will be in the future. I will happily pay out 1/3 of my salary for the rest of my working days to achieve this.

The point isn't about me though, i was just merely pointing out that our attitude to housing and our greed culture is in my opinion very unlikely to change.

Mitchaa you dont understand how the Housing market works at all.

Its easy to see how it peaks and troughs every 18 years or so. This cycle has been pretty consistant. From what you have said you have bought no.1 at peak and keep paying for for it through the trough the next few years.

I have sold my rental property`s at the peak and will buy back in at the trough in the next 5 years (yes I think it will take this long).

During the next crash if the cycle continues I want to have sold at the peak again and buy back in for my kids who will be old enough then.

Edale

beingjdc wrote: »

I think it's much easier to hold off buying than hold off selling. Deciding to rent for another year is not that much hassle. Deciding to hang on to a deceased relative's empty house when three kids each want their share, or deciding as a bank to hold on to a repossessed property, or declining to take a promotion in another town just because you don't want to sell your house at a lower price than it would have fetched in 2007... are all fairly hard decisions, whereas "mmm, I could do with a house, but I can rent one" isn't really.

I don't think it's quite that straight forward, look at all the properties that are being let out until the market recovers, there will also be many downsizers who can hold off for several years, btl investors who may want to cash in but believe we are at a low point so will hold off.

There will always be the properties that have to be sold but I think there are still a lot of people who are hanging back on selling in the belief it will get better in the short term.

torontoboy45

mitchaa wrote: »

I have another 14yrs until im 40, so couldn't care less what they did in between to be honest.

House number 1 will be paid off in 15yrs as will house number 2 between 40-55 (As i will have no rent or mortgage to pay) and if things turn out ok, house number 3 at the age of 55-68

On retirement, i still plan to live in house number 1, with house 2+3 as rental income or sell to provide a nest egg along with FSP.

That is the plan anyway and if i keep working there is no reason to suggest that i cannot achieve this. Yes i already have children to the chap that asked.

Im under no illusion that housing will ever be cheap as it never has been in the past and never will be in the future. I will happily pay out 1/3 of my salary for the rest of my working days to achieve this.

The point isn't about me though, i was just merely pointing out that our attitude to housing and our greed culture is in my opinion very unlikely to change.

well, well .well. only 26 with 3 props and a grand plan....
I'm not quite sure what to think; young spiv chancing his arm or youthful entrepeneur making his way.

either way, I'm sure you're going to make a difference.

carolt

beingjdc wrote: »

I think it's much easier to hold off buying than hold off selling. Deciding to rent for another year is not that much hassle. Deciding to hang on to a deceased relative's empty house when three kids each want their share, or deciding as a bank to hold on to a repossessed property, or declining to take a promotion in another town just because you don't want to sell your house at a lower price than it would have fetched in 2007... are all fairly hard decisions, whereas "mmm, I could do with a house, but I can rent one" isn't really.

Exactly. I find it impossible to name anyone who would find themselves in the position of HAVING to buy.

Wheras obviously, there are plenty of people who HAVE to sell.

StevieJ

carolt wrote: »

Exactly. I find it impossible to name anyone who would find themselves in the position of HAVING to buy.

Wheras obviously, there are plenty of people who HAVE to sell.

Not plenty enough, obviously

Dan:_4

carolt wrote: »

Exactly. I find it impossible to name anyone who would find themselves in the position of HAVING to buy.

Wheras obviously, there are plenty of people who HAVE to sell.

Maybe someone would HAVE to buy if they wanted to trade up in order to start a family, as one example?

carolt

Dan: wrote: »

Maybe someone whould HAVE to buy if they wanted to trade up in order to start a family, as one example?

Why? Why couldn't they extend/rent?

carolt

StevieJ wrote: »

Not plenty enough, obviously

Enough for what?