Halifax +0.1%

Cleaver

Joeskeppi wrote: »

Looking forward to it.

That's exactly what your wife said to me last time I saw her.

Jimmy_31

Cleaver wrote: »

You're not describing something that is necessarily overpriced, you're describing something that you don't personally reflects value for money for you. Which is fine, but they are two different things.

House A sold for £150,000 in 2007. Houses B, C and D are similar houses down the same street and sold for £140,000 in 2011. The latest Halifax report states that the average house price for that house type in that area is £139,000 in April 2011. House E down that street is currently on for sale for £142,000.

You could realistically say that House E is 'worth' somewhere between £135,000 and £145,000. All depends what / if someone buys it for.

You may feel that you would buy House E but for no more than £100,000. And that's fine, as that's what represents value for money for you. And you may think that anything over this price is 'expensive'. But you have to understand that this is different from deeming it overpriced. The stats show that people are buying similar houses for around £139,000, so that represents, within 10% or so, the value of that house. Pretty much.



It's rare that people pay 'over the odds' for a house. They pay what it was worth at a moment in time within a fluid market. Obviously it then may fall or rise considerably afterwards and become worth something else.

I feel like I'm discussing brain surgery techniques with Peter Andre.

So now you are trying to convince me (or maybe yourself) that everybody who bought a home during the boom even at the 2007 peak, they got value for money and didnt pay over the odds. people didnt pay peak price for a house because they thought it was value for money and were happy with the price, they paid it because they thought it was the only chance they would ever get to buy a house so they had to buy it knowing full well it wasnt worth what they were paying for it.

I feel like im having a discussion with someone who wants me to pay way over the odds for a home just because they did.

Cleaver

Jimmy_31 wrote: »

So now you are trying to convince me (or maybe yourself) that everybody who bought a home during the boom even at the 2007 peak, they got value for money and didnt pay over the odds.

No, I'm not. I'm making no point about peak prices whatsoever. Swap all the figures around if you like, I don't care. I just plucked random figures for my example.

House A sold for £150,000 in 2007. Houses B, C and D are similar houses down the same street and sold for £90,000 in 2011. The latest Halifax report states that the average house price for that house type in that area is £92,000 in April 2011. House E down that street is currently on for sale for £94,000. You could realistically say that House E is 'worth' somewhere between £89,000 and £95,000. All depends what / if someone buys it for.

Is that better for you? It still works the same whatever figures you use.

Jimmy_31 wrote: »

people didnt pay peak price for a house because they thought it was value for money and were happy with the price, they paid it because they thought it was the only chance they would ever get to buy a house so they had to buy it knowing full well it wasnt worth what they were paying for it.

I feel like im having a discussion with someone who wants me to pay way over the odds for a home just because they did.

I bought houses in 2003, 2007 and 2009. I did so in 2003 because I wanted my first house, I did so in 2007 because I moved 200 miles for work and I did in 2009 because I wanted a bigger house. All of the purchases were made because I could afford each house. It never crossed my mind to buy simply because it was the only chance I could get to buy a house.

Just to be clear, I have no issue with you wanting to buy a house or not. If I were a first time buyer I wouldn't be buying now as I think prices might fall, I'd probably be saving a bit longer. But it's up to you really. Buy a house whenever you want to buy a house. I'm more interesting in our discussion about averages, as it's rare to find an adult who doesn't understand them. And as regular posters will know, I have a soft spot and natural curiousity (non-sexual) about people who think the house price indicies are fixed.

Jimmy_31

SLUMDOG_GHUOLS wrote: »

We're actually trying to deprogram you from all the hpc brainwashing. At the end of the day people who can actually buy a house are actually buying houses and getting on with their lives. The rest who can't just sit online bemoaning their pitiful life choices that has led them to be forever rent losers.

Ok i must be seeing things where i live because nothing much is selling, i can buy a house if i wish to do so tomorrow, why would i buy a house now when they are getting cheaper.

I dont rent, i work away from home a lot so basically live on site or in B&Bs, so in effect its free rent because the boss pays not me, when im home i stay at parents or sister, no point renting anywhere when im only home every now and again.

chucky

there should be a statue erected or a picture of him in the top left hand corner on this MSE forum for this Cleaver chap.

he has the patience of a saint.

Cleaver

chucky wrote: »

there should be a statue erected or a picture of him in the top left hand corner on this MSE forum for this Cleaver chap.

he has the patience of a saint.

Ha ha! Thanks very much.

Want me to paint a picture for you? We're having our entire house carpeted tomorrow, so I've had today off work and have basically taken every single item of furnture and other item we own and manage to cram it in my garage, bathroom or kitchen, which are obviously the only areas that won't be carpeted.

All I have left is a mattress and my laptop. So I'm spending my evening debating with Jimbob here. This must be a worse situation than many UK prisoners currently find themselves in right now.

Jimmy_31

Cleaver wrote: »

No, I'm not. I'm making no point about peak prices whatsoever. Swap all the figures around if you like, I don't care. I just plucked random figures for my example.

House A sold for £150,000 in 2007. Houses B, C and D are similar houses down the same street and sold for £90,000 in 2011. The latest Halifax report states that the average house price for that house type in that area is £92,000 in April 2011. House E down that street is currently on for sale for £94,000. You could realistically say that House E is 'worth' somewhere between £89,000 and £95,000. All depends what / if someone buys it for.

Is that better for you? It still works the same whatever figures you use.




I bought houses in 2003, 2007 and 2009. I did so in 2003 because I wanted my first house, I did so in 2007 because I moved 200 miles for work and I did in 2009 because I wanted a bigger house. All of the purchases were made because I could afford each house. It never crossed my mind to buy simply because it was the only chance I could get to buy a house.

Just to be clear, I have no issue with you wanting to buy a house or not. If I were a first time buyer I wouldn't be buying now as I think prices might fall, I'd probably be saving a bit longer. But it's up to you really. Buy a house whenever you want to buy a house. I'm more interesting in our discussion about averages, as it's rare to find an adult who doesn't understand them. And as regular posters will know, I have a soft spot and natural curiousity (non-sexual) about people who think the house price indicies are fixed.

It is about the numbers, you said you dont think that anybody pays over the odds for a home, everybody who paid the peak price has done just that, yes that was the price at the time or the average price or whatever you want to call it but i can pretty much guarentee that they have paid over the odds, unless they are the type of people who try and convince themselves that 250k for a 2 bed new build terrace is just the right amount of money for what they get in return.

As its rare to find an adult who doesnt understand averages, yes as i have said i understand averages perfectly well but wont be consulting them when i buy a house.

So ill keep ignoring all the average prices released and you keep taking note of them.

Cleaver

Jimmy_31 wrote: »

when im home i stay at parents or sister, no point renting anywhere when im only home every now and again.

Exam Time

Jimmy has one sister. His friend Mark has two sisters, as does his other friend Bob. His friend, Jane, has three sisters. Jimmy's other friend Michael has one sister, as does Jimmy's friend Greame. Five other people that Jimmy knows also just have one sister.

1) What is the mean average number of sisters that Jimmy and his friends have? (1 mark)
2) What is the median average number of sisters that Jimmy and his friends have? (1 mark)
3) If Jimmy and his friends are representative of the norm, how many sisters would the average person have? (1 mark)
4) What is the average price of a house in Bristol? (2 marks)

Show your working.

System

Jimmy_31 wrote: »

I dont rent, i work away from home a lot so basically live on site or in B&Bs, so in effect its free rent because the boss pays not me, when im home i stay at parents or sister, no point renting anywhere when im only home every now and again.

So you're a builder/labourer or something?

Planning to buy a place with someone else or just yourself?

Jimmy_31

Joeskeppi wrote: »

So you're a builder/labourer or something?

Planning to buy a place with someone else or just yourself?

Carpenter/Bench joiner.

Buying a place on my own.