MSE news: Nationwide reports largest house price rise for over two years

StevieJ

stonethrower wrote: »

Im a STR and have no problem house prices are down about 12-15% my investments have produced the same plus what extra I have saved, I could buy my old house outright. I think there is more falls to come maybe 10% in the next 2 years so while your house has dropped in value my financial situation has increased sorry couldnt resist

I suppose it depends when you sold, some sold in 2002 :eek: sorry couldn't resist even a further 10% fall is not going to make their greedy property play a winner.

Harry_Powell

Wasn't Dithering Dad telling people six months ago to buy a house because the bottom was reached and because fixed interest mortgages had also reached their bottom price. I remember he was talking about a fee free 3.99% 5 year fix from A&L. I also believe that he called the bottom of the stock market correctly too.

He was brave enough to make the predictions and was chased off the forum. I just hope he is still around to see how vindicated he has become. If some of you guys had actually listened to him you'd be a lot better off financially now. I listened to the frightened bears and all I see are houseprices moving away from me again. Am I going to miss out again?

chucky

themanbearpig wrote: »

Wow 1.6% is a huge increase in a month. Can't say Im happy, but Ive accepted the crash was over months ago when the downward trend changed course.

This recession has set a new precedent, and it seems no pass recessions can be used to predict this one. Im still not sure about the medium to long term outlook, but things can only improve comming up to the elections.

to be fair - and this bear food... why are my doing their ground work for them?? have they all capitulated??

this months increases are only 0.85% without the seasonal adjustment...

Bloo_Loo

Harry_Powell wrote: »

Wasn't Dithering Dad telling people six months ago to buy a house because the bottom was reached and because fixed interest mortgages had also reached their bottom price. I remember he was talking about a fee free 3.99% 5 year fix from A&L. I also believe that he called the bottom of the stock market correctly too.

He was brave enough to make the predictions and was chased off the forum. I just hope he is still around to see how vindicated he has become. If some of you guys had actually listened to him you'd be a lot better off financially now. I listened to the frightened bears and all I see are houseprices moving away from me again. Am I going to miss out again?

in the last crash the downtrend was interupted several times by periods of rises.

every bubble in history has provided a further opportunity for players to lose money.

Not that I see the market as one for investment purposes...it is clear that the tax system skews it to be good for such purposes, and this needs to be changed IMPO.

Dan:_4

chucky wrote: »

to be fair - and this bear food... why are my doing their ground work for them?? have they all capitulated??

this months increases are only 0.85% without the seasonal adjustment...

:rotfl:I've been waiting 2 hours for someone to post this, and it turns out to be Chucky of all people.

Come on guys, you should have spotted that one at 7:05am

chucky

Dan: wrote: »

:rotfl:I've been waiting 2 hours for someone to post this, and it turns out to be Chucky of all people.

Come on guys, you should have spotted that one at 7:05am

hopefully the 'educated' bears (obviously not the ones that headed sharpish towards the exit) can tell me at what stage we're at now

Cannon_Fodder

27 posts earlier... http://forums.moneysavingexpert.com/showpost.html?p=24584241&postcount=51

wolvoman

stonethrower wrote: »

Im a STR and have no problem house prices are down about 12-15% my investments have produced the same plus what extra I have saved, I could buy my old house outright. I think there is more falls to come maybe 10% in the next 2 years so while your house has dropped in value my financial situation has increased sorry couldnt resist

So your previous mortgage was absolutely tiny?

And your investments have done what exactly? The stock market is still down 20% from 2007 peak.

Harry_Powell

stonethrower wrote: »

Im a STR and have no problem house prices are down about 12-15% my investments have produced the same plus what extra I have saved, I could buy my old house outright. I think there is more falls to come maybe 10% in the next 2 years so while your house has dropped in value my financial situation has increased sorry couldnt resist

I'm sorry but I just cant accept this on face value. House prices are indeed down 12-15% but unless you sold on the very last day of HPI then there is no way that you would have benefitted from the full HPC drops. If you could buy your old house outright then you obviously would have had a small mortgage and given that mortgage rates are currently so low, you probably could have had it paid off by now anyway.

It costs quite a bit of money to sell a house and then to buy again, I know this because I'm looking to buy and it's all solicitors fees, searches, valuation fees, mortgage arrangement fees. You might find that the cost of originally buying your home, then selling then buying a new home will have eaten up any savings you made by STRing, especially if you hold out buying and house prices continue to ride. You could be in the situation where you pay more for your house (including fees) than you sold it for.

I do want to believe you though because I think it's great to think that some people took a chance and it paid off. I'd therefore love it if you could supply details on when you STR'd, your general geographical area and how much it cost to buy your home originally, and how much it cost to sell. This would be the only way to know whether STRing really has paid off.

nollag2006

Thank goodness that house price falls are now a thing of the past. Here's hoping we get back to the 2007 peak levels by Christmas.