At Another HPC Site Another New Joiner

Pimperne1

Sometimes you need to take a step back, surely this 50 odd year old ought to step into the market. Been waiting since 1987! This is his introductory post from 4 March this year:

http://www.housepricecrash.co.uk/forum/index.php?showtopic=75123&st=1530

"Hi,

I've been lurking for several years but been sitting out the housing lunacy since 1987 (fikin hell that's longer than Gneer I think). I backed out of buying a house after returning from France just as the crash started.

I decided back then to go to school (Uni) and learn something worthwhile. By the time I started to earn enough to think of buying it was already clear that we were on the second wave of a 'double top' so as I wanted to afford children I stayed in rented housing.

Back in 82 I had made quite a pile out of buying a house 20 miles from York with a demolition order on it. Now that village is almost exclusively a commuter village - something the locals laughed at when we suggested that was what was going to happen.

So now I bite my tongue when one of my colleagues buys a house and another can't sell at any price. Meanwhile we sit and wait for that curve on the Halifax to fall and wonder just how far the fall will overshoot the trend line".

You couldn't make it up (well you probably could but I haven't).

Pimperne1

Another one (but shows the impact of HPC sites on potential buyers):

Hi, I have been living on HPC since 2005 but do not post. I have been to the brink of buying twice and backed out as I believe in HPC. Just want to share my situation, I am in rented 3 bed house, a bit scruffy and in need of decorating but in a nice area with good neighbours etc (Northwest)paying £550 p/m . I have 2 young kids and self employed partner. I have always wanted my own place to decorate and call my own, had some awful landlords, very nice one at the moment. We have a secure tenancy and could live here for years.
I put in an offer of 170k on a house that had been bought in 2006 for 195k and had it accepted. I have a 40% deposit ( I am a good saver). 2 year fix mortgage would be 534 p/m. I cant bring myself to buy as I am sure we are facing substantial falls in the next couple of years.
I am now planning to work freelance so that means that it will be impossible to get a mortgage for a few years. Hope I am doing the right thing but the thought of my hard saved money going up in smoke just stops me from buying. I find that the vast majority of sellers in Liverpool will not take andy significant reduction in asking price. Houses are mostly not selling. The houses for sale are awful and incredibly overvalued. In many ways I would rather rent than buy the horrid offerings within my price range (yes there are some nice houses within my range but these are in areas you would never want to live in).

PasturesNew

87-88 Moved back, decided to go to Uni
88-91 Uni

Prices were still low/affordable until about 97, so what happened to their 6 missing years? As they were so aware and making choices based on awareness of markets/prices, you'd have thought they'd have ploughed back in in 95-96.

Unlike me, with no awareness, who bought a SO at the peak of 89/90 and sold when it was still in 5% NE in 97.

ruggedtoast

Hpc is populated by such a bunch of loons these days. I don't think many of them would ever be in a position buy somewhere.

Pimperne1

A new joiner from 5 Feb 11:

My first post!

I've been lurking on this site on and off since 2005, and it's one of the few oases of sense in a maelstrom of deluded daftness where the housing market is concerned. I have rented all my life (now 35), never earned more than £20k and last could have (and probably should have) bought somewhere in 2001. Back then, prices were going up at a stupid rate and the little voice inside my head kept telling me 'don't borrow what you can't afford to pay back' which I reckoned to be roughly three times my salary.

I've grafted like a good 'un for my modest money (I'm a tree surgeon) and am content with my lot, but have always been slightly miffed that I could never put a permanent roof over my family's head for no other reason than I wasn't prepared to borrow an obscene amount of money and be effectively owned by a bank for the next 25 years. Particularly when my limited knowledge (A-Level Economics) of the principles of fractional reserve banking told me that the bank had just magicked that money out of thin air. Even in 2001 I could see which side of ridiculous house prices were going and kept trying to point out the elephant in the living room, but just got talked down or laughed at, and if I had a quid for every time I've heard the expression 'property only ever goes up' then I could probably buy a house with cash.

The information, banter and Krusty-bashing on this site is wholesome and nourishing, so keep up the good work HPCers!

Cheers,
Jim (might this be Gneer?)

System

1987! That can't be real.

That said, I have a feeling Graham will still be here in 15 years time

ash28

Pimperne1 wrote: »

Another one (but shows the impact of HPC sites on potential buyers):

Hi, I have been living on HPC since 2005 but do not post. I have been to the brink of buying twice and backed out as I believe in HPC. Just want to share my situation, I am in rented 3 bed house, a bit scruffy and in need of decorating but in a nice area with good neighbours etc (Northwest)paying £550 p/m . I have 2 young kids and self employed partner. I have always wanted my own place to decorate and call my own, had some awful landlords, very nice one at the moment. We have a secure tenancy and could live here for years.
I put in an offer of 170k on a house that had been bought in 2006 for 195k and had it accepted. I have a 40% deposit ( I am a good saver). 2 year fix mortgage would be 534 p/m. I cant bring myself to buy as I am sure we are facing substantial falls in the next couple of years.
I am now planning to work freelance so that means that it will be impossible to get a mortgage for a few years. Hope I am doing the right thing but the thought of my hard saved money going up in smoke just stops me from buying. I find that the vast majority of sellers in Liverpool will not take andy significant reduction in asking price. Houses are mostly not selling. The houses for sale are awful and incredibly overvalued. In many ways I would rather rent than buy the horrid offerings within my price range (yes there are some nice houses within my range but these are in areas you would never want to live in).

I have been to the brink of buying twice and backed out as I believe in HPC. Just want to share my situation

Is this HPC a new religion or is it something along the line of Alcoholics Anonymous? Or both.

HAMISH_MCTAVISH

ash28 wrote: »

Is this HPC a new religion or is it something along the line of Alcoholics Anonymous? Or both.

Good question.

Not sure if it more closely resembles a cult, or a support group for crashaholics....