Is the housing market being protected??

StevieJ

ThyKingdomCome wrote: »

well no, I would not be happy if my house lost 80k of 'value'. i would get on with it though as best I could, because all homeowners would be in the same situation.I was expecting something like this to happen around 2008, so I guess, I sort of accepted the idea in my mind that i would 'lose' money. at least in the short term. (5-10 yrs). I would still pay my mortgage and remain happy in my home.

I am not saying that it wouldn't cause me hardship (possibly effect me in ways i don't yet understand) but i thought the result of the CCrunch would be a sharp shock to the system, which would hurt but then we could learn from our mistakes and start again.

I guess I am being naive in that regard; but at the moment I hear about the govt. borrowing more and more and yet in real terms (house prices being one of the only sectors of the economy that directly effects me) we are sort of in a no-mans land, and to me it feels like we are being cushioned from the discomfort of inevitability.

i am rambling really. just wanted to air my thoughts on it.

I have just had an idea! sell it if you feel like that, I know I would

ThyKingdomCome

StevieJ wrote: »

You mean paper loss to a fairly new buyer, yes it would mean something as it would affect the deals available to the person, what ladder would they be on with a mortgage almost twice the value of the property?

it would affect me with regards to remortgaging, you are right. I have 4 years left on a fix. Something to think about.

lostinrates

Thykingdomcome, welcome to the board.

ThyKingdomCome

StevieJ wrote: »

I have just had an idea! sell it if you feel like that, I know I would

I like it here.:D

mewbie_2

StevieJ wrote: »

You mean paper loss to a fairly new buyer, yes it would mean something as it would affect the deals available to the person, what ladder would they be on with a mortgage almost twice the value of the property?

The same ladder as they set out on. An impossible to climb 'ladder' due to the gaps between the rungs. Forced into ever smaller and more frankly squalid and unsuitable property in order to make that important first step. They were f'cked, and they stay f'cked. That is what happens when boom turns to bust.

Eventually though, people get over it. But a mistake can take a very long time to recover from. Just ask those who were unlucky in the 90's.

abaxas

mewbie wrote: »

The same ladder as they set out on. An impossible to climb 'ladder' due to the gaps between the rungs. Forced into ever smaller and more frankly squalid and unsuitable property in order to make that important first step. They were f'cked, and they stay f'cked. That is what happens when boom turns to bust.

Eventually though, people get over it. But a mistake can take a very long time to recover from. Just ask those who were unlucky in the 90's.

Sadly I knew someone who bought at 80's peak. It wasnt until 1999 when they moved out of negative equity.

Savage

Thrugelmir

ThyKingdomCome wrote: »

I like it here.:D

You'll get used to the constant infighting and bickering. :rolleyes:

Surprisingly there is plenty of good debate amongst the off topic moments. :cool:

mewbie_2

Thrugelmir wrote: »

You'll get used to the constant infighting and bickering. :rolleyes:

Surprisingly there is plenty of good debate amongst the off topic moments. :cool:

Thankfully there is plenty of off topic among the debate also.

ThyKingdomCome

Thrugelmir wrote: »

You'll get used to the constant infighting and bickering. :rolleyes:

Surprisingly there is plenty of good debate amongst the off topic moments. :cool:

I don't know if I am a bear or a bull. Do I have to be one or the other?

lostinrates

ThyKingdomCome wrote: »

I don't know if I am a bear or a bull. Do I have to be one or the other?

Inevitably, it will be decided for you if you don't decide.

I'm a flea.