Anyone Nervous?

Dan:_4

Is anyone getting slightly nervous from holding out buying?

Are we now at the bottom of this recession?

• House Prices Up - (they have not fallen during 2009)
• Pound Rising on signs that the worst of the recession is now over
• FTSE recovering
• Interest rates at 0.5% and cheap mortgage deals

Has Gordon done it?


Is the 'feel good factor' back among the general public and home owners?

Would you consider buying now, or risk another decade of paying someone else's mortgage?

ess0two

Depends if you have age on your side,earlier 20's could possibly wait a tad longer,late 20's/30's gotta be getting itchy feet.

the_ash_and_the_oak

Dan: wrote: »

Is anyone getting slightly nervous from holding out buying?

Are we now at the bottom of this recession?

• House Prices Up - (they have not fallen during 2009)
• Pound Rising on signs that the worst of the recession is now over
• FTSE recovering
• Interest rates at 0.5% and cheap mortgage deals

Has Gordon done it?


Is the 'feel good factor' back among the general public and home owners?

Would you consider buying now, or risk another decade of paying someone else's mortgage?

Interesting way you've phrased this question, particularly the last line. Kinda feel you could have phrased this a little more...balanced.

Nervous? Most of last year I was pretty nervous about job, though I'm less so now - thinking about other options, traveling etc

But in terms of house prices not really. You're probably right that I'll pay someone elses mortgage for close to a decade (I'm going to phrase things using your terms if thats ok).

to take each point

• House Prices Up - (they have not fallen during 2009)

Prices rising again would not make me buy under any circumstances. If I were thinking about it - then stabilzied prices might, but not rising. Rising prices again now would make me anxious as an owner (actually Im hoping the current bounce may help my parents sell). I think prices won't fall the rest of this year. I think prices will fall all next year

• Pound Rising on signs that the worst of the recession is now over

not convinced about this - but happy for the pound!

• FTSE recovering

good point here, should prob think about putting some here at some point soon

• Interest rates at 0.5% and cheap mortgage deals

dunno, not really feeling there are cheap deals for new buyers, only for existing ones

dont really know why you've phrased this question in such a leading way, but i disagree, still think we're looking at 40% down tbh

ray123

I would be more nervous about buying in this economic climate! Am happy to sit back, at home, save as much as possible for as long as possible and stock up on beer...

Who knows whats around the corner. There are tentative signs that the economy is stabilising, but, I say, why take a chance.

Let's see what 2010 brings to the table

the_ash_and_the_oak

seem to remember you saying that when prices hit bottom they would stay there for some time, not rise.

if the former...is there anything to be nervous about? whats the rush for anyone?

if they were to start rising...what would you think?

ess0two

IR rises potential fly in the ointment.

lostinrates

I've seen what we can buy change more than the avergae figures, in general. My concerns over future events/employment remain the same: and DH has offers for the end of his contract overseas. I'm more optimistic about buying now, and we remain of the same minsdset, if we see ''it'' we will buy. I was edgier a few weeks ago. A few chums pointed out that DH and I were trying to make not right properties ''right'' because I wanted to buy in England so much. On next years budget, and noone seems to expect things to rocket upwards, we might just be laughing (equally of course, we might not)

With this instabilty I feel more and more glad we haven't succombed to a ''for the meantime'' property that we might have found difficult to shift if the right thing came up.

No, its not not having bought yet that I'm nervous about.

ETA; however we would still, rather be settled now, hence continuing to look now

Harry_Powell

Have a look at trends in previous house price crashes, not one of them have a perfect V shape. We'll see more falls this year and next.

My vote is for 'Hold'.

Dan:_4

the_ash_and_the_oak wrote: »

seem to remember you saying that when prices hit bottom they would stay there for some time, not rise.

if the former...is there anything to be nervous about? whats the rush for anyone?

if they were to start rising...what would you think?

You are correct, I think prices will stay at around this level (lets say 10% either way) for the next few years - so no significant HPI - it just cannot happen during these times.

I asked the question because many people were banging on about 2009 being much worse then 2008, some people were expecting prices to drop 50% (even 70%) by the close of this year.

This has not happened and we are almost half way through the year - are these people getting nervous and re-thinking their strategy?

the_ash_and_the_oak

Dan: wrote: »

You are correct, I think prices will stay at around this level (lets say 10% either way) for the next few years - so no significant HPI - it just cannot happen during these times.

I asked the question because many people were banging on about 2009 being much worse then 2008, some people were expecting prices to drop 50% (even 70%) by the close of this year.

This has not happened and we are almost half way through the year - are these people getting nervous and re-thinking their strategy?

Can't really speak for them. Sure you're not just digging up the most extreme pov you can find to argue against? Not sure what value you're going to get from debating a 50% down in a year POV.

Also 2009 has been worse than 2008 in many regards (employment).

Treadmill

Watch the house prices go up even more sharply as STRs clamour to grab a bargain while the housing market is still at the bottom

Demand will soon overtake supply