U.K. Home Prices Rise After London Reaches Record, Group Says

Out,_Vile_Jelly

Harry_Powell wrote: »

Nah, you were comparing your idyllic rental life against your 'mates' crappy Owner Occupier life.

Well, personalised anecdotes from an internet message forum are always going to be subject to disbelief.

I rent a nice garden flat in a nice part of town with excellent transport. My mortgaged friends all live in significantly less nice parts of town (I am reluctant to visit some of them, and one of them is so third world the station doesn't even have a train service from Clapham on Sundays). Unless you're earning well above average, buying in London seems to me to involve gritting your teeth, lowering your quality of life and essentially "doing time" by living in a skanky area that you desperately hope is up and coming (the whole of SE London cannot all up and come; the scum have got to live somewhere). The plan seems to be to rough it for a few years, and then sell (having made a profit because of course prices only ever rise) and try and move somewhere more civilised, hoping that there will still be plenty of people willing to undertake the same punishment as you. I just can't believe that there will always be a constant stream of people willing and able to buy/rent in dump areas.

My rather rambling point is that there are lives behind the graphs, and decisions behind the numbers. Renters seem to have to constantly justify and apologise for their status.

Harry_Powell

Out,_Vile_Jelly wrote: »

Well, personalised anecdotes from an internet message forum are always going to be subject to disbelief.

I rent a nice garden flat in a nice part of town with excellent transport. My mortgaged friends all live in significantly less nice parts of town (I am reluctant to visit some of them, and one of them is so third world the station doesn't even have a train service from Clapham on Sundays). Unless you're earning well above average, buying in London seems to me to involve gritting your teeth, lowering your quality of life and essentially "doing time" by living in a skanky area that you desperately hope is up and coming (the whole of SE London cannot all up and come; the scum have got to live somewhere). The plan seems to be to rough it for a few years, and then sell (having made a profit because of course prices only ever rise) and try and move somewhere more civilised, hoping that there will still be plenty of people willing to undertake the same punishment as you. I just can't believe that there will always be a constant stream of people willing and able to buy/rent in dump areas.

My rather rambling point is that there are lives behind the graphs, and decisions behind the numbers. Renters seem to have to constantly justify and apologise for their status.

And yet, here you are posting on a house price forum. If you have no interest in buying a home, then why waste your time discussing the price of homes?

brit1234

IveSeenTheLight wrote: »

As with any investment (shares / interest rates / house prices), prices can go up or down.
You are not being penalised, you are simply getting the current market return for the investment vehicle you have chosen.

It's your choice where you have your money and what you do with it.
If your not happy with the rate you are getting, look at alternative oppertunities.

Yes I would say I am, this has never happened in human history. The prudent are penalised for the greedy.

IveSeenTheLight wrote: »

Certainly the last year would have seen you get a better return on your investment if you put into property or shares than if you simply left in the bank.

I have shares, I also can't afford a property due to the insane property bubble despite have a good wage and high depsoit.

Sorry but all that is happening is my generation and future generations are being priced out of property for ever. Descent people are putting families on hold whilst the government supports buy to let investors and criminals and long term unemployed are showered in homes and money.

Raise rates and let the market correct it self.

Harry_Powell

brit1234 wrote: »

I also can't afford a property due to the insane property bubble despite have a good wage and high depsoit.

Sorry but all that is happening is my generation and future generations are being priced out of property for ever. Descent people are putting families on hold whilst the government supports buy to let investors and criminals and long term unemployed are showered in homes and money.

Raise rates and let the market correct it self.

I also have a decent enough wage and an OK deposit and yet I (and thousands like me) can afford a property. Something doesn't seem right, here. Why can't you afford a property if you've got a high deposit and good wage? Do you have CCJ's or adverse credit history?

Out,_Vile_Jelly

Harry_Powell wrote: »

And yet, here you are posting on a house price forum. If you have no interest in buying a home, then why waste your time discussing the price of homes?

Well, it's entitled "Debate House Prices and the Economy". I'm interested in both, especially economics which is something I have never studied.

If you turn 30, are single and rent, most of society views you as mentally and morally suspect. Of course part of me would like to be settled, "normal" and I would definitely love to have my own garden that I could plan with a long term future in mind. On the other hand, I can't stand being in debt and the thought of being in a deathgrip to the bank in order to "own" a newbuild shoebox in the East End (saw a 1 bed in Dalston advertised for over £300k in one of the hilarious property supplements in the free commuter rag the other week- made me do an actual "laugh out loud" like the worst type of Tube Lunatic) is monstrous.

I could, possibly, buy a 1 bed flat in a rough part of Croydon. I suppose I read the varying opinions on this forum to ask myself if that's really the best I can do with my life.

Harry_Powell

Many months ago I suggested that people who rent could be as well off as those who buy, because they don't have all the mortgage arrangement fees, discharge fees, admin fees, solicitor costs, estate agency fees, etc. whenever they move. I couldn't believe the vitriol I received!

I still stand by my argument, but just don't have the strength to debate it anymore.

Jonbvn

brit1234 wrote: »

....whilst the government supports buy to let investors and criminals and long term unemployed are showered in homes and money.

This sounds like the usual facism from HPC.

An interesting thing I have noticed over there, is that there are very few women who post. In fact the OT forum feels like something from a lads magazine. Does this have a bearing on their viewpoint?

Emy1501

It's very stange to witness a group of otherwise intelligent people hold rigid onto their viewpoint, regardless of the evidence around them.

The market is Volatile at the moment RBS share 4x their lows does not mean they are a great buy. There are points for and against buying property at the moment. Over the next couple of years prices could be higher or lower than now or Feb 2009 lows.

brit1234

Harry_Powell wrote: »

I also have a decent enough wage and an OK deposit and yet I (and thousands like me) can afford a property. Something doesn't seem right, here. Why can't you afford a property if you've got a high deposit and good wage? Do you have CCJ's or adverse credit history?

I have a top credit rating, the only thing not right is London house prices are far too high.

brit1234

Jonbvn wrote: »

This sounds like the usual facism from HPC.

Actually its a reality here in West London, loads of criminal families have £500,000-£1,500,000 houses paid by the tax payer. This is not the daily mail but what actually happens

There needs to be a rebalance for the hard working future generations rather than criminals or speculators.