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Debate House Prices
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A question for the regulars planning to buy houses
Comments
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Surely it would be irresponsible to plunge into a world of debt without serious research first.
Sure, so long as you realise that every year you delay buying at this stage of your life is another year you do not get to live rent/mortgage free at a later stage in your life.
You can pay a little more now, or a lot more later.
Whatever small gains have been made by falling prices have pretty much been wiped out by higher mortgage costs in this crash for most people.
Deposit saving is nice, but unless you are living in a houseshare or with parents, it's difficult for most people to save enough to make a real difference.
There are always exceptions to the rule..... But for most people, in roughly every 18 years out of 20, the best plan by far is just to buy as young as possible and try to over pay a mortgage as much as they can over time.“The great enemy of the truth is very often not the lie – deliberate, contrived, and dishonest – but the myth, persistent, persuasive, and unrealistic.
Belief in myths allows the comfort of opinion without the discomfort of thought.”
-- President John F. Kennedy”0 -
IveSeenTheLight wrote: »Possibly, but again the market will be set by the conditions.
These properties will still sell, they have re-sold so far haven't they.
It may be that they lose a little of their shine and will not be worth as much as the new new-build apartments, but they will be worth something and someone will find that is their affordability.
not totally convinced they will sell tbh given that large numbers never sold first time around in many city centres (its also these kind of places that have borne the brunt of the falls imo). Also remain to be convinced that any significant equity will be built up in these - they may resell but not at sufficient level to have fulfilled their function as a 'rung' - so yes they may be worth 'something' but insufficient for the sellers to really move up the ladder.
there's also really kind of a lot of them imo
agree that some of them resold in the bubble but given that the construction explosion of these is a relatively recent phenomenon not really got so much confidence that they can sell outside of bubble conditions
Prefer girls to money0 -
My OH says we will buy when the recession is over. He doesn't believe all the rubbish the government talks about green shoots. So we are saving like mad, and keeping any eye on the market. I check PropertyBee regularly so we have a feel for what is really happening. My OH's dad is a real expert on the economic matters, and is good enough to post on top money saving forums. He says another 10% off next year, so we'd be mad to waste a load of money trying to buy a house now.My girlfriend and I were hoping to buy, but she was laid off when Woollies closed. I'm on short time now, plus everything seems to be going up in price. We had managed to save nearly 3,000 pounds over the last four years, but unfortunately we're going to need a newer car soon and we don't have an old enough one to qualify for scrappage.
We haven't given up hope though. It's still our dream to one day buy a one bed flat in an ex LA tower block for 100 thousand. Although reading people on here makes you wonder if we should even bother thinking about it. Apparently they are just going up and up and up.
Now I'm really confused?
In case you hadn't already worked it out - the entire global financial system is predicated on the assumption that you're an idiot:cool:0 -
Bored_Poster wrote: »Remind us not to invite you to redhill.
Would have politely declined, but thanks anyway? Would not want the 13,000 mile round trip
:wall:
What we've got here is....... failure to communicate.
Some men you just can't reach.
:wall:0 -
Where has everyone else's input got the board? As fas as I can see, no one has changed their mind about the crash.IveSeenTheLight wrote: »No, was just making a comment on how much genuine inout he has.
It's like looking for the needle in a haystack in more and more of his posts.
Each thread is a copy & paste from some news article which echoes the poster's views, followed by 3-4 pages of the same arguments from the same people which eventually get too personal or fizzle out into two people demanding statistical sources.
Every month or so one side may start making more noise because the latest index goes their way, but the board carries on as usual.
After reading all the posts about how much of their life bears are wasting whilst waiting for more falls, I'm beginning to wonder how much of my life I am wasting trying to interpret any new information amongst all the inane arguments.
Mewbie provides the light relief needed.
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Surely it would be irresponsible to plunge into a world of debt without serious research first.
Well, that's another subject all together*.
I was alluding to the unhealthy obsession the perma-pessimist has with 'potential' loss of capital.
Somehow I'd love just one of them to wake up and realise a life spent in dwelling on money loss, is surely not a good life.
These PP's wonder at the 'muppets' around them that don't seem to be aware of 'the risks'. Point is they aware, but on the other hand they just want to live in thier own mortgaged home rather than be on the end of a landlords will.
Money is'nt everything.
*Would add that most coomon sense average Joe's don't go in for much research though. There's a certain type out there that go in for pointless research. The type that Alan Sugar dismisses pretty swiftly, if you get my drift.0 -
I'll try to give it some analysis on what would "feel right" to me.
Prices are reasonable based on normal rent. The rough rules I use are P/E 20 or lower, or price should be below (weekly rent x 1000).
I only want to buy an Aston Martin when thier indexed price relative to the supply of aloe vera, correalates to the net cost of a lepor's liver.0 -
I was alluding to the unhealthy obsession the perma-pessimist has with 'potential' loss of capital.
Somehow I'd love just one of them to wake up and realise a life spent in dwelling on money loss, is surely not a good life.
Having read this entire thread, I think the "perma-pessimist" you're referring to is a figment of your own imagination. Everyone who's posted on topic has their own personal reasons for buying or not buying now, which aren't related to a fixation on money loss.
Real people are a bit more complicated than your imaginary ones.0 -
Kinda feeling this thread (and forum) is to do more w money than lifestyle choice imo. pretty sure as a lifestyle choice neither renting nor owning are inherently superiorPrefer girls to money0
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