Has the last Bear turned?

Aberdeenangarse

Realistbear off HPC has gawn in bought himself a House. Well done lad.....it's only taken you nearly eight years :money:

Exchanged contracts at around 16:50 today.

We sold our last house in 2003 due to a job move back in the UK. Its been a hellish 8 years watching prices rise and then fall. I have seen prices drop about 20% over the course of the last 18 monts or so and accept the probablility that prices will probably drop another 10-20% in my area (mosty retired, quite cheap compared with neighbouring Brighton). In the last 3 years we have had to move twice due to landlords wanting to sell.

Tired of waiting.

Reasons others might want to buy now rather than waiting:

1. Tired of waiting and its a strain on life generally

2. The market locally is mostly retired so any drops will be at the lower end of the range (10-20% down)

3. Rents are very high locally (in my area £1k pcm for a 2 bedroom bungalow)

4. There is a possibility, and I put it no higher than that, we have seen the best of the drop and the rest will be a long drawn out decline of maybe 10% this year, 5% the next, flat the next, up 1% the next, down 3% the next................ and being settled is more important than the gamble.

5. Mrs. Bear has had enough.

System

Must have cost him a fortune if he sold up in 2003.

Graham_Devon

Last bear?

Was just reading an article, and low and behold, price falls, in the media, are called "good news!".

Predicting further good news for first-time buyers Howard Archer, chief UK analyst for IHS Global Insight, said: "We suspect house prices will end up declining by some 10% overall by mid-2012 from their 2010 highs. This implies that they will fall by around 5%-8% from current levels depending on which house price measure you take."

Editor needs sacking!

ruggedtoast

The market can stay irrational longer than Realistbear can remain solvent.

I wonder how he really feels about this, after eight years of waiting nothing less than his "Great Crash 2" would have done, but now he's ended up buying somewhere which is, by the sounds of it, pretty undesirable, at a price he would never have dreamed of paying 3 years ago when he was a prolific anti-buyer on hpc.

Guess he became one of the sheeple.

chewmylegoff

i don't think brit has given up yet.

RenovationMan

A wise man once told me, never be out of a market too long and never gamble with your home.

Aberdeenangarse

RB talking balls. Again.

Moving every 6 months over some years. A smart guy like him never heard of 18-36 month leases. Either an idiot or he's making it up for appearance.

Jonathan, we know your the idiot, you've been predicting a House price crash for the last ten years and where has that got you? I expect you've been getting grief from your misses, wanting to know when she can have a place to call her own? The reason she can't 'nest' is because you must have hit your head when you fell out of the tree! :rotfl:

Sibley

RB is full of BS.

House prices are not down 20% in his area at all. He's paid out 8 years of rent and probably bought a house for 5-10% off 2007 price.

He must have been paying around £600 or more per month for a place.

Roughly £55,000 in rent but probably more.

His house he reckons he bought was around £200,000 so lets say he got it 10% cheaper than it was. That makes him £35,000 out of pocket with a full term mortgage in front of him.

If he'd bought 8 years ago he would have been on low rate now and been able to have cleared lots of years off.

Yeah HPC website works well doesn't it? :rotfl:

the.ciscokid

Sibley wrote: »

RB is full of BS.

House prices are not down 20% in his area at all. He's paid out 8 years of rent and probably bought a house for 5-10% off 2007 price.

He must have been paying around £600 or more per month for a place.

Roughly £55,000 in rent but probably more.

His house he reckons he bought was around £200,000 so lets say he got it 10% cheaper than it was. That makes him £35,000 out of pocket with a full term mortgage in front of him.

If he'd bought 8 years ago he would have been on low rate now and been able to have cleared lots of years off.

Yeah HPC website works well doesn't it? :rotfl:

How much would it have cost to rent the money from the bank for that duration?

DervProf

Sibley wrote: »

RB is full of BS.

House prices are not down 20% in his area at all. He's paid out 8 years of rent and probably bought a house for 5-10% off 2007 price.

He must have been paying around £600 or more per month for a place.

Roughly £55,000 in rent but probably more.

His house he reckons he bought was around £200,000 so lets say he got it 10% cheaper than it was. That makes him £35,000 out of pocket with a full term mortgage in front of him.

If he'd bought 8 years ago he would have been on low rate now and been able to have cleared lots of years off.

Yeah HPC website works well doesn't it? :rotfl:

Well at least he can now look forward to years of growth in the value of his property, can't he ? I'm sure what he makes from now on will make that £35K look like pocket change.

abaxas

Sibley wrote: »

RB is full of BS.

House prices are not down 20% in his area at all. He's paid out 8 years of rent and probably bought a house for 5-10% off 2007 price.

He must have been paying around £600 or more per month for a place.

Roughly £55,000 in rent but probably more.

His house he reckons he bought was around £200,000 so lets say he got it 10% cheaper than it was. That makes him £35,000 out of pocket with a full term mortgage in front of him.

If he'd bought 8 years ago he would have been on low rate now and been able to have cleared lots of years off.

Yeah HPC website works well doesn't it? :rotfl:

Get some help, you brain appears to have stopped reasoning correctly.