House prices fell 1.20% in June

F_T_Buyer

asandwhen wrote:

infact public sector workers are on the decrease aswell.

No it's not. Public sector employment has risen over the last year! Unless your talking about the Gershon Review where several public sector job cuts had to be made - yet several departments made everyone re-apply for their jobs but with a different job title. Gershon Review, tick, spending cuts? Nope.

http://www.statistics.gov.uk/cci/nugget.asp?id=407

In fact, it looks like the public sector will continue to recruit:

http://www.onrec.com/content2/news.asp?ID=12452

As martyn4764 has pointed out, the public sector is paid for by the private sector. The public sector growth is all that is keeping this economy growing, and that's all down to our prudent chancellor (Gordon Brown) who just cannot stop borrowing and spending.

Gorgeous_George

My single B2L rent is about a week's pay per month. If/when I retire, I will have the equivalent of a week's pay from the B2L having cleared the mortgage (if it's worth doing for tax reasons).

It's clearly a reasonable pension fund. I don't care what house prices do as neither my B2L nor my home are for sale.

If I die before retiring the B2L will pass to my kids. Where would my pension fund go?

I agree, I would not buy another B2L at the moment but there are houses that can still return a profit as B2L but they are few and far between.



GG

meanmachine_2

Good to see this thread has brought out the sanctimonious house owners with their baby bouncing mortgages.

Oh yes, of course. It's all of those wastrels with their £159 ipods - it's THEIR fault they can't buy a bunch of bricks THREE times the price it was 5 years ago.

Remember, it's your duty to keep buying houses, no matter how gobsmackingly expensive they are! It's unpatriotic not to, you know!

These are the same people who, 90 years ago, would have thrust a king's shilling into some 17 year old's palm and sent them to the front.

I don't take in everything I'm told by the media thanks. That's why I refuse to buy into this pathetic housing bubble.

mystic_trev

AndrewSmith wrote:

And for the fact it's now raining. Don't forget global warming, they haven't pinned that on anyone specifically yet either. Perhaps it's all the cigars that Robert Maxwell is smoking on his luxury yacht in the mediterranean while he sips Pimms with Elvis.

I doubt the Robert Maxwell bit. About my only claim to fame was to do with Maxwells Personal Accident policy. When the claim came in I had the dubious privilege of going through the Post mortem report - pictures and all - which I can assure you was not a pretty sight!

Hillfly

I must confess that some people who are not on the property ladder seem quite bitter. They have my sympathies too. Especially anyone younger than myself (I am 31).

I was lucky enough to be able buy a home about 3 years before the market peaked - although i am mortgaged up to the hilt. I was also lucky enough to have got through uni without much debt as i was the last year to avoid tuition fees.

However my brother in law who is 6 years my junior has just left uni, has a mass of debts largely due to tuition fees and is forced to waste money on rent because he can't afford to buy a place.

His position in life was not that different to mine but he was unlucky to have been born a few years later and so never really had a chance.

Getting back onto topic i have no pension and am thinking of trying to get a buy to let as some sort of pension fund. I like to think that prices will rise over the next 30 years regardless of any impending slump?!

sue_balu

Since anyone can now find out the true prices paid for property through the net house price etc sites, I'm sure prices will stabilise.
Estate Agets used to be able to pursuade people that similar house in the same street "went for megabucks" and scare people into offering silly money. They can chek for themselves more easily now.
I am only an amateur but believe its all just a reflection of supply and demand and as this is a small island with a growing population the trend in values will carry on upwards despite periods of blips/depressions and negative equity. Its all about patience.......No?

nelly_2

House prices fell 1.20% in June

BULLSH1T

House prices only ever go up. Everyone knows that.

It's the law :rotfl: :T :rotfl:

devils_advocate

mystic_trev wrote:

the Robert Maxwell bit..... I had the dubious privilege of going through the Post mortem report - pictures and all - which I can assure you was not a pretty sight!

He wasn't that great pre mortem either.

Jim_B_3

Nottingham down 13% over the last year.

http://business.guardian.co.uk/story/0,,1814507,00.html

ftbworried

meanmachine wrote:

I don't take in everything I'm told by the media thanks. That's why I refuse to buy into this pathetic housing bubble.

It's ok for you to sit on your high horse and smugly say that because you already have a house to live in, a HOME. What if you are a young family starting out? What other options have you got - wait 10 years for a house price crash? and where do you live in the meantime? where do you bring up your kids? where do you call HOME?

I don't think anyone LIKES paying these prices but you fail to see that not everyone buys a house for financial reasons. If you have a grudge against the BTL because they buy a house as an investment then fine, but don't tar everyone who buys a house with the same brush. Because you already have a home you fail to see that people who have 'come of age' at this unfortunate time in the house cycle can't really avoid it.

Yes, the house that I bougth 6 months ago will probably not rise in value, and yes it may have fallen. I am not happy about this but I'm getting married in 8 weeks, we couldnt have lived with our parents much longer so we're FORCED to buy in a dangerous period in the property cycle. It doesn't mean we are stupid and 'listen to the media', it means we needed to buy a house so we could live in it.