Given your current circumstances are houses

bluey890

PasturesNew wrote: »

Houses in most areas are unaffordable for single people in normal everyday jobs.
Rents in many areas are expensive for single people in normal everyday jobs.

Couples get an easy ride.

Great double entendre PN. :T

Mr_Matey

Not sure how to answer this poll. I could buy a place (affordable?), but I think they're overpriced (unaffordable?).

I won't consider buying until prices are cheaper.
Guess I'll vote unaffordable...

moggylover

Davesnave wrote: »

A bit OT, but I have to agree with your assessment about prices in West Wales. I wanted to buy there,and indeed, could have done, but value wasn't what the local populace were offering. Blooming wrecks with a couple of acres at prices slightly below the admittedly daft English ones. That just won't cut it now.

I went elsewhere; Graham's neck of the woods, as it happens. At least I won't have to learn a new language, or watch S4C!:D

And from what I can see on the net the properties may be a little pricier Devon way but they are generally in a lot better condition and better appointed. Further plus point being that there is more work in that area than there is around here, and it is a more commutable distance to areas with work.

I REALLY cannot understand why the prices went so mad around here: the market (especially for smallholdings) was almost completely dependant upon incomers and they started drying up a couple of years ago (before the crunch) once the differential between here and civilisation dissapeared.

I have been here 20 years now - I still cannot speak the language although I can understand some, and I almost never have to sit through S4C unless the Rugby is on:D

chucky

PasturesNew wrote: »

Houses in most areas are unaffordable for single people in normal everyday jobs.
Rents in many areas are expensive for single people in normal everyday jobs.

Couples get an easy ride.

here is where most people have the biggest issue and are forced to rent...

Davesnave

moggylover wrote: »

I REALLY cannot understand why the prices went so mad around here: the market (especially for smallholdings) was almost completely dependant upon incomers and they started drying up a couple of years ago (before the crunch) once the differential between here and civilisation dissapeared.

I think the sheer number of relatively cheap smallholdings in West Wales was what traditionally attracted English retirees. The scenery, the slower way of life and more relaxed planning enforcement away from the towns all contributed too.

That brought its own problems, as thousands of old codgers like me began making demands on local services.:rolleyes:

In my travels, viewing smallholdings, I mainly met English people, many of whom came from the south east. Some certainly wanted to return from whence they came to live out their twilight years, hence their reluctance to lower prices.

Saddest were the couple who'd not been able to get upstairs in their own home for 2 years. They'd reduced by about 10% after a year on the market, and they're still there now.

I also see from Rightmove today that another couple, who we met in February 2008, have just lowered theirs........... by a staggering 6%!:rotfl:

neas

The question is quite frankly silly, and biased towards proving your own ends... like all your posts they follow the same ideal.

'Defend house prices....' as you are heavily invested already... it helps you feel safe and comfortable at night counting the beans .

Firstly lets open this can o wuup aas

1. This post is asking an opinion, is not a fact and therefore pointless. Prove? If you asking people this question 2 years ago, you'd prob have got more people saying yes.. even tho houses were more expensive. Why? because of no deposit required. To 'afford' a house now a FTB needs to cobble together 10-15k before they can even 'get in the door', whereas 2 years ago the bank were giving you up to 25% of mortgage for fees and re-decorating.

So in essense because of lack of credit its less affordable for FTBers.

2. Assuming you want to draw conclusions from this post, nobody has a crystal ball, some of us who scrimped for a deposit for a while don't want to blow it buying yours or someone elses overpriced house and then getting screwed when interest rates rocket.

3. Unfortunately for us and britain, people aren't very financially savvy in general... alot of the public would and actually do borrow and borrow as much as they can even if it means 35 year mortgage terms, 50% of their salary per month to service it. Quite frankly the majority of people are silly, and their opinion if they can afford something isn't founded on much logic... just desires and emotion (sound like a vulcan :P).


But to answer your question:

Could I afford the monthly payments on a 25 year term mortgage for a 3 bed property atm? Yes at the moment.

Do I know whats gonna happen to house prices, the economy, my job, inflation etc? Nope ... but i got a good idea its not positive.

Really2

neas wrote: »

Do I know whats gonna happen to house prices, the economy, my job, inflation etc? Nope ... but i got a good idea its not positive.

To me a house was less affordable in 2007.
on the above.
You never will, and over 25 you will face all of the above at some point. possibly twice or more.

neas

Theres two factors stopping me buying

1. (main one) - Wife is going to uni for two years, after that point I think we will move areas, so buying a house now seems pointless on a reduced income.
2. I believe house prices have further to fall, I believe the economy is going to look dreadful in a years time, the only way the government will get people to buy its debt is to put interest rates up... once that happens house prices wont increase at least.

Im comfortable with house prices plataueing.. while my wife goes to uni and our deposit slowly rises. If they fall its a bonus. I just cant see them sky rocketting again.. just dont make sense...

I've been through my works redundancy programme, survived it.

My friend got made redundant twice from a chef job

My wifes friend survived her works redundancy programme

Our dockyards is supposed to be moving away from plymouth

My wife have got rid of all temps as orders are drying up

A few EA have gone out of business

I negotiated a 100 quid discount from the 'normal' cost of a 2 bed flat 1 year ago.

While we are in a recession, oil is sky rocketting... good job i prepared and reduced to single car family.

I just see Britain getting absolutely owned by its lose financial responsibilities... some of the reports coming out are terrifying that we could owe 100% of our GDP!... thats like everyone in uk owing on their salary in terms of a credit card... we all know 30k of debt takes a good 5-10 years to repay at least!.

Really2

neas wrote: »

Theres two factors stopping me buying

1. (main one) - Wife is going to uni for two years, after that point I think we will move areas, so buying a house now seems pointless on a reduced income.
2. I believe house prices have further to fall, I believe the economy is going to look dreadful in a years time, the only way the government will get people to buy its debt is to put interest rates up... once that happens house prices wont increase at least.

Im comfortable with house prices plataueing.. while my wife goes to uni and our deposit slowly rises. If they fall its a bonus. I just cant see them sky rocketting again.. just dont make sense...

I've been through my works redundancy programme, survived it.

My friend got made redundant twice from a chef job

My wifes friend survived her works redundancy programme

Our dockyards is supposed to be moving away from plymouth

My wife have got rid of all temps as orders are drying up

A few EA have gone out of business

I negotiated a 100 quid discount from the 'normal' cost of a 2 bed flat 1 year ago.

While we are in a recession, oil is sky rocketting... good job i prepared and reduced to single car family.

I just see Britain getting absolutely owned by its lose financial responsibilities... some of the reports coming out are terrifying that we could owe 100% of our GDP!... thats like everyone in uk owing on their salary in terms of a credit card... we all know 30k of debt takes a good 5-10 years to repay at least!.

Cheers,

Sorry I was not trying to get any information. I was just saying in general over the period of your mortgage you go through a lot of instability.

I was (Sh!ting) when I first purchased in 2001 my job did not look stable then I can tell you

geoffky

i could buy a lot of houses at the moment but that in no way makes them affordable for normal working people...