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

Dan:_4

carolt wrote: »

Why? Why couldn't they extend/rent?

Renting? It sucks.....and everyone knows it.

mvengemvenge

ukcarper wrote: »

I can see this recession lasting a long time but 25 years

Oh, I agree, it won't last that long, but even after it, I think things will be a lot more subdued than they have been in recent years. I just don't believe money will be as easy to come by.

the_ash_and_the_oak

Don't really see why people can't rent out a place instead of selling it and don't really see why people can't rent a place instead of buying it imo

the_ash_and_the_oak

Dan: wrote: »

Renting? It sucks.....and everyone knows it.

Don't really understand where you are coming from with this one

Dan:_4

the_ash_and_the_oak wrote: »

Don't really understand where you are coming from with this one

I was just pointing out that renting is !!!!!! compared to home ownership, but it was intended to wind up carolt.

Forgive me.

the_ash_and_the_oak

Dan: wrote: »

I was just pointing out that renting is !!!!!! compared to home ownership, but it was intended to wind up carolt.

Forgive me.

its cool - and I know this is an emotive subject for many - was just surprised at the disparagement of lifestyle choice as a debating device is all. feel there are better arguments to use

StevieJ

the_ash_and_the_oak wrote: »

Don't really see why people can't rent out a place instead of selling it and don't really see why people can't rent a place instead of buying it imo

I agree, this is a bugbear of mine I think rent received on primary residence should be tax free, allowing you to own a base but move around if you wish to without tax penalty and also not having to get involved in house moves all the time.

mvengemvenge

Dan: wrote: »

Renting? It sucks.....and everyone knows it.

Renting sucks? Is that what all the BTL LL's on here tell their tenants, or are they happy to take their 'business'?

We have a particular mentality in the UK (heavily pushed on us by Maggie T) that home ownership is the be-all and end-all. Why are Europeans so content and laid-back about renting, then? I'm an owner now, but I rented for years previously. I know which of the two feels the most precarious.

StevieJ

mvengemvenge wrote: »

Renting sucks? Is that what all the BTL LL's on here tell their tenants, or are they happy to take their 'business'?

We have a particular mentality in the UK (heavily pushed on us by Maggie T) that home ownership is the be-all and end-all. Why are Europeans so content and laid-back about renting, then? I'm an owner now, but I rented for years previously. I know which of the two feels the most precarious.

Can only assume that the state pays their rent when they retire

mitchaa

RDB wrote: »

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.

Im not quite sure i know what to make of that to be honest as your view above is that of greed and desperation Sell at the top, buy at the bottom of each and every cycle, there's surely more to life than that:rolleyes:

I bought a family home to live in, not as an investment. If i were greedy i would have sold at the end of 2007, or early 2008 in my case, banked the profits and moved into rental accomodation.

I have a family though, why on earth would i want to move a young family around from pillar to post just to make a few £? I value them far more than that.
I can easily afford my mortgage and i have a roof over my head. Coincidentally, my mortgage is £1200, rent for the same property would be ITRO of £1300-£1500 so if i were to have done what you have suggested above and to keep the £1200pm outlay constant, i would have had to have downgraded my home or moved to a not so nice area to do so. Why would i do that to my wife and child? Potentially i could have moved them into a nice rental property only for the landlord to go BR and us getting moved around every 6mths, i do not think so.

I have no intentions of doing as you suggested, as to be honest i really am not that desperate. Your prediction of 5yrs to the bottom is just that, a prediction. You nor I do not know if the market will be at the bottom in a months time, in a years time, or in a decades time so chances are you'll not realise the bottom. How do you make the decision to buy right at the bottom? Surely you will only know in hindsight years later where the bottom truly was