Abandoned hope for all ye FTBs

mewbie_2

pickles110564 wrote: »

Better than being stuck renting and throwing your money away.

How's that reno project going Pickles? Sold it yet?

lostinrates

dopester wrote: »

Max. I'm not trying to anger you. Such as how I don't believe JSA should be boosted to homeowners.

I genuinely believe this is a major house price crash. That is why I'm not buying yet, because values have much further to fall.

Anyway, you are not going to STR on my looney projections, or anyone else's expectations of a continued heavy crash in values, and rightly so.

Not trying to anger you. I just don't want you to be trapped in a house which has lost much of it's value of the boom years, and still be struggling for income, in an economy which has a lot of restructuring to do.

I understand you sincere motivation. But tbh, I don't feel other assets are all that secure either. Although hp falls still are rising, for lots of other purchase my cash doesn't seem s if it would go so far, and shares have been a rollercoaster. In MAx's shoes I'd be trying to get work again and hold onto the house.

pickles110564

mewbie wrote: »

How's that reno project going Pickles? Sold it yet?

Not finished yet, been to busy doing overtime at work. Will get round to finishing it soon enough.

Oh by the way, remember in an early post I mentioned a house that got repossessed, well it went for more than the for sale price ended up with a few bidding for it.
Not bad considering it will need £125k to bring it up to date.

mewbie_2

pickles110564 wrote: »

Oh by the way, remember in an early post I mentioned a house that got repossessed, well it went for more than the for sale price ended up with a few bidding for it.
Not bad considering it will need £125k to bring it up to date.

I don't really remember the repossession thing. Are you sure it's not your own reno that needed £125k and you ran out of money - so the reno became a repo?

pickles110564

mewbie wrote: »

I don't really remember the repossession thing. Are you sure it's not your own reno that needed £125k and you ran out of money - so the reno became a repo?

No Mate, Singlesue and vinegartits confirmed it, remember he works in the Ipswich County Court and deals with bankrupts.

mewbie_2

pickles110564 wrote: »

No Mate, Singlesue and vinegartits confirmed it, remember he works in the Ipswich County Court and deals with bankrupts.

Oh OK, slipped me by. So I have three questions.

When do reckon you're going to finish it?
Where are prices going to be at - ie. how much will you lose?
Are you voting BNP?

IveSeenTheLight

Just want to say
Give it up for Max Headroom

:T:T:T:T:T:T:T

Some excellent points, well made

Max_Headroom_3

dopester wrote: »

Max. I'm not trying to anger you. Such as how I don't believe JSA should be boosted to homeowners.

Not angering me at all Dopester I promise you. It's debate, and that's all good. :beer:

But it does frustrate me slightly sometimes that you seem unable (or perhaps more accurately unwilling) to grasp salient points.

Just as an example of that, still you go on about the "money I've made" or the "profit I've made" from HPI yet time and time again I ask what profit and you don't, you can't, reply (because there is none, not until I sell and I've no intention of doing so). But still the next thread has you yet again referring to this mythical "profit" of mine.

I genuinely believe this is a major house price crash. That is why I'm not buying yet, because values have much further to fall.

And I genuinely agree with you!! I think it is crashing, and if you read my posts going back years you'll see I've always thought this would happen. But that affects different people in different ways.

In your instance your decision not to buy yet is, I feel, entirely justified and totally the correct one. It is exactly what I would be doing in your shoes, holding off and watching.

But you do need to understand that in my position it would be insane for me to try and profit by selling and buying back, for all the reasons explained in my last couple of posts in this thread.

Different strokes for different folks. doesn't make you wrong about your situation however.

Anyway, you are not going to STR on my looney projections, or anyone else's expectations of a continued heavy crash in values, and rightly so.

They're not "looney projections" at all mate. I suspect you may prove to be rather optimistic, but in general I think you're bang on the money.

Not trying to anger you. I just don't want you to be trapped in a house which has lost much of it's value of the boom years, and still be struggling for income, in an economy which has a lot of restructuring to do.

Again, not angering me at all. But please understand, I won't be "trapped" since it's all equity, even if it halves, and I don't care about the "lost value", it was never "real value" in the first place since I never tried or wanted to sell it.

Let me put it this way. Had it gone up by a million pounds last year and dropped a million pounds this year, you could argue that I'd "lost" a million pounds in equity. Would I be any worse off than I am right now?

No, not a jot.

It's a house mate, it's just a house.

Max_Headroom_3

IveSeenTheLight wrote: »

Just want to say
Give it up for Max Headroom

:T:T:T:T:T:T:T

Some excellent points, well made

Awww... shucks.

Max_Headroom_3

lostinrates wrote: »

I understand you sincere motivation. But tbh, I don't feel other assets are all that secure either. Although hp falls still are rising, for lots of other purchase my cash doesn't seem s if it would go so far, and shares have been a rollercoaster. In MAx's shoes I'd be trying to get work again and hold onto the house.

Absolutely.

And of course, holding on to the house is the key to minimising my outgoings, since I have no "property costs" (ie rent or mortgage), only running costs (utilities, council tax etc).