Hilarious! People in my area are increasing their asking price!

IveSeenTheLight

dopester wrote: »

Holding out might see her not be able to get what she could from the market now, for a very long time - if in her own lifetime. (Again, in my opinion).

I wonder how niaive your opinion is.
To think that property even after this correction is still a peak never to be seen again within ones lifetime, is "in my opinion" extremely niaive

dopester

Maybe so ISTL. It could be naive.

The headline below is alarming to big-up my lifetime thing, but actually the article itself should be quite soothing and reassuring to many a bull.

UK house prices face prolonged bear market

The housing market may now be trapped in a long-term bear market and may not bounce back to the peaks it reached in 2007 for generations, a leading economic consultancy has warned.

By Edmund Conway
Published: 6:13AM BST 06 Apr 2010

http://www.telegraph.co.uk/finance/economics/houseprices/7557222/UK-house-prices-face-prolonged-bear-market.html

Harry_Powell

dopester wrote: »

Suggestions she not consider lowing her asking price and to "Hold your ground, don't give away your home"- might not work in her favour. Holding out might see her not be able to get what she could from the market now, for a very long time - if in her own lifetime. (Again, in my opinion).

Quite so, your opinion. My opinion doesn't cost anyone any money. Your opinion, based on virtually no information would cost the OP 'at least' £15k. I don't know about you, but £15k represents a large percentage of my annual pre-tax income.

When I bought last year, I was given the same 'don't buy now because house prices are going to fall another 10% and you'll be throwing money away' advice. As it turned out, I bought anyway and lo' and behold, prices actually rose 11% in my area according to the Land Registry. Certainly, this is represented in asking prices in my area. Had I listened to the 'bear' advice, I would still be in rented now because I would have been priced out of the style of house that I bought.

The 'bear' advice was right back in 2007 and will have saved a lot of people money if they heeded it. The 'bear' advice is now not appropriate for the current market and will cost people a lot of money.

It's one thing for the 'bears' to spout their pessimistic predictions on the house price discussion forum - most of us here know your objectives. However, you lot have no right to push your VI on the main house boards. You've also no right to make personal insults and/or follow me about the boards just because I disagree with you and have the conviction to post an alternate viewpoint.

IveSeenTheLight

dopester wrote: »

Maybe so ISTL. It could be naive.

The headline below

Many on here like moneyweek.
How about this for a headline

Use your mortgage to beat inflation

http://www.moneyweek.com/personal-finance/beat-inflation-01308.aspx

I guess that if you don;t have a mortgage, you can't benefit from their recommendations.

Emy1501

Harry_Powell wrote: »

Quite so, your opinion. My opinion doesn't cost anyone any money. Your opinion, based on virtually no information would cost the OP 'at least' £15k. I don't know about you, but £15k represents a large percentage of my annual pre-tax income.

When I bought last year, I was given the same 'don't buy now because house prices are going to fall another 10% and you'll be throwing money away' advice. As it turned out, I bought anyway and lo' and behold, prices actually rose 11% in my area according to the Land Registry. Certainly, this is represented in asking prices in my area. Had I listened to the 'bear' advice, I would still be in rented now because I would have been priced out of the style of house that I bought.

The 'bear' advice was right back in 2007 and will have saved a lot of people money if they heeded it. The 'bear' advice is now not appropriate for the current market and will cost people a lot of money.

It's one thing for the 'bears' to spout their pessimistic predictions on the house price discussion forum - most of us here know your objectives. However, you lot have no right to push your VI on the main house boards. You've also no right to make personal insults and/or follow me about the boards just because I disagree with you and have the conviction to post an alternate viewpoint.

Anyone making probably their most expensive financial decision based on what they read here needs their head examined. Pretty much all opinions on here are based as much on what people want to happen as they think will happen.

System

Emy1501 wrote: »

Anyone making probably their most expensive financial decision based on what they read here needs their head examined. Pretty much all opinions on here are based as much on what people want to happen and think will happen.

I think this is a cop out, people come here LOOKING for advice. Sure they won't make their decision based solely on one persons post but it all gets factored in, everyone has a responsibility not to peddle their deluded opinions as fact.

ess0two

Joeskeppi wrote: »

I think this is a cop out, people come here LOOKING for advice. Sure they won't make their decision based solely on one persons post but it all gets factored in, everyone has a responsibility not to peddle their deluded opinions as fact.

Emy does have a point,this forum really is the last place to take any advice from,it should carry a warning of some sort.

Emy1501

Joeskeppi wrote: »

I think this is a cop out, people come here LOOKING for advice. Sure they won't make their decision based solely on one persons post but it all gets factored in, everyone has a responsibility not to peddle their deluded opinions as fact.

Its a faceless internet forum. Its what people do. As I say people are simply peddling what they want to happen whether its Hamish telling us as fact that prices will be double in real terms in 15 years or who ever telling us as fact prices will be 70% off next year. There are pretty much no economists on this forum and advise given by anyone on here should come with a health warning if you really believe that most take any advice on here seriously.

Conrad

As I've been saying to the bears for the last year and a half, prices are in the main the sum of human will, and said will reflects the fact the majority of people are essentialy optimists and just get on with life and pay next to zero attention to the media let alone economic 'realities'.

The bears greatest mistake is to suppose thier reality is a shared reality.

System

ess0two wrote: »

Emy does have a point,this forum really is the last place to take any advice from,it should carry a warning of some sort.

This forum yes, but the nutjobs shouldn't start invading the housebuying forum. I don't see Hamish in the housebuying forum telling everyone to increase their asking prices or offer an extra 10% on everything.