We’d like to remind Forumites to please avoid political debate on the Forum.
This is to keep it a safe and useful space for MoneySaving discussions. Threads that are – or become – political in nature may be removed in line with the Forum’s rules. Thank you for your understanding.
Debate House Prices
In order to help keep the Forum a useful, safe and friendly place for our users, discussions around non MoneySaving matters are no longer permitted. This includes wider debates about general house prices, the economy and politics. As a result, we have taken the decision to keep this board permanently closed, but it remains viewable for users who may find some useful information in it. Thank you for your understanding.
📨 Have you signed up to the Forum's new Email Digest yet? Get a selection of trending threads sent straight to your inbox daily, weekly or monthly!
Savings Accounts Obsolete-- Now "Losing Accounts"
Comments
-
If I propertybee within 0.5 miles the most price reductions on any property is 5 and the largest percentage reduction is just over 25%...but of course these are only asking prices....I think....0
-
If I propertybee within 0.5 miles the most price reductions on any property is 5 and the largest percentage reduction is just over 25%...but of course these are only asking prices....
Propertybee should come with a financial health warning for the mentally impaired.
Asking prices are meaningless.
House worth 200K, optimistic owner puts it on the market for 275K, to allow for people making "low offers"..... No action so owner reduces to 200K, which is what it should have been priced at to begin with.
Bear looks at propertybee, sees 75K reduction, and assumes prices are dropping. Comes on MSE and brags about prices falling "round my way".
Reality of course is that actual sold prices are the same or increasing.
Everyone else laughs at him.
Rinse and repeat.“The great enemy of the truth is very often not the lie – deliberate, contrived, and dishonest – but the myth, persistent, persuasive, and unrealistic.
Belief in myths allows the comfort of opinion without the discomfort of thought.”
-- President John F. Kennedy”0 -
Do not wait.
Go and buy a house now.
Any house.
Even in skegness.
It will go up in value and you'll be rich beyond your wildest dreams.
Ain't it so hamish?
Slightly pathetic there, Skegness is has its good points same as everywhere else.
http://www.gibraltarpoint.co.uk/'Just think for a moment what a prospect that is. A single market without barriers visible or invisible giving you direct and unhindered access to the purchasing power of over 300 million of the worlds wealthiest and most prosperous people' Margaret Thatcher0 -
the low savings rates shouldn't really come as a surprise to anyone
there have been some opportunities out there to make the most of savings
I blew my chance when Kaupthing Edge went under, I chickened out and withdrew everything. If I had stayed in I would have been transferred over to ING and had a 7.67% (I think it was that rate) savings account for 3 years. My last 7% account (at Anglo Irish) matures this November. But the best account I had was 10%, it was a regular saver at Halifax International but I was only able to pay 2k a month into it, so only averages 12k to earn the interest. Most of my sayings accounts now are between 4-5%, still I can't complain as I am a net borrower and only paying just over 1% on my mortgagesChuck Norris can kill two stones with one birdThe only time Chuck Norris was wrong was when he thought he had made a mistakeChuck Norris puts the "laughter" in "manslaughter".I've started running again, after several injuries had forced me to stop0 -
Inflation may be eating away at most peoples savings but some of us are saving for homes. Thus it does not matter as much as houses are deflating which makes up for the lack of interest.
Exactly what I was saying a week or so ago to a depressed tenant on here when he was worried about his deposit being eroded by inflation. With house prices stagnant his house deposit is safe and sound, inflation only erodes money that is going to be spent on inflated items.
I will put a caveat on that and say that with house prices stagnating and low rates here to stay, I would buy a house as soon as I could secure a reasonable LTV and therefore a reasonable mortgage rate.0 -
This is what I believe most vendors are doing at the moment, and therefore trapping buyers in still paying over the odds.HAMISH_MCTAVISH wrote: »House worth 200K, optimistic owner puts it on the market for 275K, to allow for people making "low offers"..... No action so owner reduces to 200K, which is what it should have been priced at to begin with.
Friend of OH was told by EA to price their flat to "test" the market, i.e., overestimate the AP and see if any desperate buyers fall into the trap.0 -
to add inflation erodes earnings too which means that by the time you get to save for that reasonable LTV mortgage - those types of deals may not be around or house prices may not be stagnating.RenovationMan wrote: »Exactly what I was saying a week or so ago to a depressed tenant on here when he was worried about his deposit being eroded by inflation. With house prices stagnant his house deposit is safe and sound, inflation only erodes money that is going to be spent on inflated items.
I will put a caveat on that and say that with house prices stagnating and low rates here to stay, I would buy a house as soon as I could secure a reasonable LTV and therefore a reasonable mortgage rate.
it's not going to happen tomorrow or even this year but to get a decent deposit together takes a while so people need to do their own maths and what suits them best.0 -
True only asking prices (as I stated) but 8 months ago when prices were booming there were no reductions, a few increases and almost everything was sold. I agree though that strategies may have changed as a result of the boom conditions that applied then but now very little is selling so it is hard to estimate actual 'market' levels.HAMISH_MCTAVISH wrote: »Propertybee should come with a financial health warning for the mentally impaired.
Asking prices are meaningless.
House worth 200K, optimistic owner puts it on the market for 275K, to allow for people making "low offers"..... No action so owner reduces to 200K, which is what it should have been priced at to begin with.
Bear looks at propertybee, sees 75K reduction, and assumes prices are dropping. Comes on MSE and brags about prices falling "round my way".
Reality of course is that actual sold prices are the same or increasing.
Everyone else laughs at him.
Rinse and repeat.I think....0 -
HAMISH_MCTAVISH wrote: »Propertybee should come with a financial health warning for the mentally impaired.
Asking prices are meaningless.
House worth 200K, optimistic owner puts it on the market for 275K, to allow for people making "low offers"..... No action so owner reduces to 200K, which is what it should have been priced at to begin with.
Bear looks at propertybee, sees 75K reduction, and assumes prices are dropping. Comes on MSE and brags about prices falling "round my way".
Reality of course is that actual sold prices are the same or increasing.
Everyone else laughs at him.
Rinse and repeat.HAMISH_MCTAVISH wrote: »Still, chin up,
These seem familiar phrases. I`m sure I used them earlier in the day.Rinse and repeatSo chin up
Who`s a lovely boy then ? Pieces of eight, pieces of eight !
There you go Hamish, another thread derailed. :j
Well, not quite. You`ve just said "brags about prices falling" & "Reality of course is that actual sold prices are the same or increasing."
Are you really saying that although PropertyBee does show some asking prices being lowered, in every case the asking price was inflated in the first place ? And the "sold prices" that you speak of being "the same or increasing", the same or greater than what exactly ?30 Year Challenge : To be 30 years older. Equity : Don't know, don't care much. Savings : That's asking for ridicule.0 -
to add inflation erodes earnings too which means that by the time you get to save for that reasonable LTV mortgage - those types of deals may not be around or house prices may not be stagnating.
Given the conditions that you describe, I would have thought that house prices would then be falling, which would cancel some or all of the negative effects of inflation. You never know, prices might fall enough to make the wait worthwhile.30 Year Challenge : To be 30 years older. Equity : Don't know, don't care much. Savings : That's asking for ridicule.0
This discussion has been closed.
Confirm your email address to Create Threads and Reply
Categories
- All Categories
- 352.3K Banking & Borrowing
- 253.6K Reduce Debt & Boost Income
- 454.3K Spending & Discounts
- 245.3K Work, Benefits & Business
- 601.1K Mortgages, Homes & Bills
- 177.5K Life & Family
- 259.2K Travel & Transport
- 1.5M Hobbies & Leisure
- 16K Discuss & Feedback
- 37.7K Read-Only Boards