A serious question for the Bears....

nembot

I'll be buying my second house in a couple of years, when prices are 20% lower than they are today.

Very much in the same way I bought my first place for 25% less than it was up for in 1992.

Funny how these cycles work, it is a fairly rudimentary concept afterall - rather suprised some people still believe otherwise.

mewbie_2

I have now thought of my answer.

I haven't got a plan B.

I haven't got a plan A either.

Afriend_2

mewbie wrote: »

I have now thought of my answer.

I haven't got a plan B.

I haven't got a plan A either.

Have you a plan C?

mewbie_2

Afriend wrote: »

Have you a plan C?

Er, I've just realised I exactly copied what Carolt had already said, sorry about that carol. Read post earlier, forgot I read it, try to think of something to say and plagiarise earlier post.

Oh yes, on top form tonight.

edit: Oh and Plan C. No idea. Brain not working. !!!!!! day. Befuddled. Not even drunk. No excuse.

ess0two

Anyone tried the F plan?

carolt

That was actually quite funny ess0two. Well done.

Framps

nembot wrote: »

I'll be buying my second house in a couple of years, when prices are 20% lower than they are today.

Very much in the same way I bought my first place for 25% less than it was up for in 1992.

Funny how these cycles work, it is a fairly rudimentary concept afterall - rather suprised some people still believe otherwise.

Is this the same rudimentary concept whereby Spurs always win a trophy when the year ends in a 1?

If I remember rightly this was subsequently amended to Spurs always win a trophy when the year starts and ends in a 1, after a trophyless 2001!

Roll on 10001

ess0two

carolt wrote: »

That was actually quite funny ess0two. Well done.

Reminds me of the film shirley valentine when she leaves the house for the airport and shouts,some gag about the 'f plan' to her hubby left behind.

Sad bstard alert...................

Shirley Valentine: That's right, Millandra, I'm going to Greece for the sex! Sex for breakfast! Sex for dinner! Sex for tea! And sex for supper!
Van Driver: Sounds like a fantastic diet, love!
Shirley Valentine: It is, have you never heard of it? It's called the "F" plan!

Pobby

Graham_Devon wrote: »

Well I am happy to admit that I am priced out. In an expensive-ish area anyway, so not got as much choice. I have happily admitted I am priced out many times, unless of course I wanted to go for a very high multiplier mortgage, or 110+%. Even if I was buying with someone else, we would still be priced out. Hence taking the route I decided to take.

Seems people are even priced out of shared ownership now though around here. 40% newbuilds are going for 110k. And that's only 40% of the property.

Now, considering most people who go for such schemes are families, they would still need £27,500 a year to be able to afford the price. That is without taking into account a deposit.

All that for just 40%.

There are some cheaper homes available, an example is a 1 bed mid terrace home for 107k total price. But, again, you are back then to the single person needing to earn preferably 30k a year. Down here, the average wage sits at just under £18,000 a year.

I really do think you need to look outside your own box, and see that a "minimal deposit" to you, is 5 years worth of saving to someone else.

Yes Graham. Madness isn`t it. I just don`t know how people afford all this, living in the same part of the world as you. I know we are a bit cheaper than where you are in the county but a 2 bedroom terrace would be about £125k.

£18k here would be about right but many earn a lot less.One bed, new build, have been reduced to £129k in what is becoming a notorious development, built on the edge of clubland, !!!!! land and drug land.

I am still surprised at how housing has held up so far.

julieq

People afford it by being couples. Whether you like it or not, any singleton is in competition with couples, and many couples will choose to combine incomes to buy somewhere to live.

So maybe plan B is to meet a significant other and work together. Thinking about it, that's certainly more or less what I did.