House prices just keep on rising

manhattan

Hereward wrote:

Normally, a buyer has a deposit, so in theory they could afford more, but I could find you a few properties in my home town for around £60,000 and I'm sure if I look hard enough one for £35,000. They will not be grand palaces, but at least its a start.
I agree that people today should expect to be able to live at least as well as their parents, but just because they expect it does not mean that they can, or indeed should!

are these properties suitable for a FTB'er family of four?
if so let me know where they are!

kazap

RHemmings wrote:

We have to wait until they run out of fools. Which could take quite a long time. :mad:

You could be waiting forever, the demand for housing wont go anywhere. I remember being in that position 5-6 years ago, back then everyone in the forums even then were saying the recent rocketing prices were unsustainable, but they keep on going up! Infact many of the posts were from me as I was particulary bitter and annoyed by it too!!

But thankfully, rather than just deciding to "wait" I got saving and working and built up a bloomin big deposit so I could buy, not for the investment, but to have a stable roof over my head (ive been kicked out of rented accommodation on a landlords whim before now )). I've never earnt that much, but like many people on this forum im a money saving expert!

Anyways, Id like to see prices go steady as it makes it harder to get onto the next rung of the ladder, but im already overpaying my mortgage with every spare penny and its great to see it come down !

Ive started a bit of a 'you can do it' campaign over on this FTB page. Aimed at people who are happy to work and save hard because they do actually really like the idea of owning their own home - so certainly not everyone, and I totally respect people who want to hold off for other reasons. But some of us want the stability for our families and it can be done. If you want to save money, just stick with MSE!

Good luck

manhattan wrote:

are these properties suitable for a FTB'er family of four?
if so let me know where they are!

As a recent FTB, mine was in S.London Zone 6. 3 bed semi, assuming 2 adults sharing! Im not married yet - let alone kids but hey one step at a time ! Good luck

manhattan

kazap wrote:

You could be waiting forever, the demand for housing wont go anywhere. I remember being in that position 5-6 years ago, back then everyone in the forums even then were saying the recent rocketing prices were unsustainable, but they keep on going up! Infact many of the posts were from me as I was particulary bitter and annoyed by it too!!

But thankfully, rather than just deciding to "wait" I got saving and working and built up a bloomin big deposit so I could buy, not for the investment, but to have a stable roof over my head (ive been kicked out of rented accommodation on a landlords whim before now )). I've never earnt that much, but like many people on this forum im a money saving expert!

Anyways, Id like to see prices go steady as it makes it harder to get onto the next rung of the ladder, but im already overpaying my mortgage with every spare penny and its great to see it come down !

Ive started a bit of a 'you can do it' campaign over on this FTB page. Aimed at people who are happy to work and save hard because they do actually really like the idea of owning their own home - so certainly not everyone, and I totally respect people who want to hold off for other reasons. But some of us want the stability for our families and it can be done. If you want to save money, just stick with MSE!

Good luck

you were just lucky that you were in a position to buy 5-6 years ago!
could you afford to purchase your home at todays price,without overstretching yourself?

RHemmings

kazap wrote:

You could be waiting forever, the demand for housing wont go anywhere. I remember being in that position 5-6 years ago, back then everyone in the forums even then were saying the recent rocketing prices were unsustainable, but they keep on going up! Infact many of the posts were from me as I was particulary bitter and annoyed by it too!!

There is a big difference between 5-6 years and forever. Bust follows boom, but not necessarily with a tight timetable. Nobody can say what will happen, but that doesn't mean that the chance of a crash or the chance of no crash is 50/50.