Why I Love House Prices Crashing

IveSeenTheLight

chucky wrote: »

let's just hope that you can buy that dream home in Bridge Of Weir.

YOY, Renfrewshire is only down 12%... still expecting that extra 40%... dream on... :rotfl:

Renfrewshire
May 08 = £126,779 http://www.ros.gov.uk/pdfs/la_may08.pdf

May 09 = £126,416 http://www.ros.gov.uk/pdfs/local%20authorities%20may%202009.pdf

chucky

IveSeenTheLight wrote: »

Renfrewshire
May 08 = £126,779 http://www.ros.gov.uk/pdfs/la_may08.pdf

May 09 = £126,416 http://www.ros.gov.uk/pdfs/local%20authorities%20may%202009.pdf

that is a massive time lag - no wonder he's feels the need to come across from HPC.co.uk :T

SunnySusie

michaels wrote: »

House prices rise to the level where the just enough people are priced out of the market for all houses to be sold.

It's sad but true. The richest people are the ones that can buy the nice places in the nice parts of town. This never changes.

I would love to think a crash will mean that I can pick up a 6 bed detached house in London with a massive garden just down the road from a tube link that drops me off at my job 10 mins later. That would be great. But surely I will still be competing with a hell of a lot of people for that kind of place!

Besides, I bought a so called "expensive house" and have just cut years and years off my mortgage thanks to historically low interest rates. I'd be interested to compare the total cost of ownership with someone getting a bargain. I am now looking at being mortgage free before I am 40 - Im not a big earner (just a good MSE!) so I am not convinced a 2006 purchase was the "wrong " thing to do. Maybe I could have waited to save 20k or whatever off my place, but is that really "better" than the 10 years I knocked off thanks to my mortgage dropping to nothing and the opportunity for huge over payments.

Buyers post crash are looking at some not so tasty rates - is that "cheap" house really going to be cheaper, maybe, maybe not - but it's not so clear cut as some want to believe.

Good luck to all

greggymagic

SunnySusie

:beer:

Exactly!!!

shakerbaby

chucky wrote: »

that is a massive time lag - no wonder he's feels the need to come across from HPC.co.uk :T

Don't worry Scotland's a big place with many large falls to come. :beer:

chucky

shakerbaby wrote: »

Don't worry Scotland's a big place with many large falls to come. :beer:

not worried - out of interest how long have you been calling these big falls 'to come' in Scotland?

purplevamp

shakerbaby wrote: »

Okay folks time for a little something to cheer us all up on a slow Wednesday afternoon. Name your 3 top reasons why you just love house prices crashing.

1) My family would be able to live in a decent area away from the scum we lovingly call our neighbours

2) We can decorate and do what we want with the property as it will be ours and not social housing

3) We won't be throwing away dead money on rent

Let's hope the crash hasn't finished and still has a long way to go.




[STRIKE]
cogito - pointless, nasty comment @ post #5
[/STRIKE] looks like the post was removed :T

IveSeenTheLight

shakerbaby wrote: »

Don't worry Scotland's a big place with many large falls to come. :beer:

Your right, Scotland is a big place and you really need to look closer at local areas as they will react differently.

You say there are large falls to come, yet all indicators show that Scotland has one of the best affordability ratios.

This was also shown during the last crash when some areas fully recovered the price drops within one year

Ah well, keep on dreaming if it makes you happy

Graham_Devon

I don't love it, I'm being effected by it and getting poorer because of it, through neg equity.

However, I do believe the pain will be worthwhile if it means people can live a nicer, easier life, rather than being a slave to a mortgage and the inevitable stress, debt and relationship breakdown that comes with it.

I have seen a fair few people's relationships and lives totally destroyed through trying to live, many my age, all with jobs paying well above minimum wage. They were not spend freaks, they were just trying to live a normal life when a baby comes along and all of a sudden one wage will not stretch enough to provide enough money to live on and it's downhill from there.

I don't see why good, hard working people, who just want to get on with their lives, look after themselves and their family should be torn apart by massive rent and mortgage costs.

"I'm alright Jack" is fine. But my generation have had it damn rough. I don't want to see the next generation have it as hard, or harder, while generations before us enjoy virtual wealth through HPI.

I often hear off people who have enjoyed their final salary pension schemes, their state pensions, their massive equity etc saying they do not understand "we had it just as bad". That annoys me, as not only will any pension I get be less favourable, but myself and my generation are unlikely to get a state pension or have to work longer, get less in pension benefits, and the next 20 years is going to be damn hard.....and we've just spent the last 10 years aimlessly saving for a deposit where every month, the percentage of that deposit got smaller and smaller, and the cost of moving, even when adding on things like stealth tax HIPS packs, gets ever increasing.

So thats my thought process. Yes, it will hurt me personally. But I do not see how the country could have possibly continued, or even continue at todays prices. It's simply unaffordable, and has destroyed many, emotionally and financially.

cogito

purplevamp wrote: »

1) My family would be able to live in a decent area away from the scum we lovingly call our neighbours

2) We can decorate and do what we want with the property as it will be ours and not social housing

3) We won't be throwing away dead money on rent

Let's hope the crash hasn't finished and still has a long way to go.




cogito - pointless, nasty comment @ post #5

It was meant to be. You don't think that the gloating tone of the OP is nasty and pointless too then?