House price rises

talksalot81

cwcw wrote:

Yeah, give me higher crime, higher pollution levels, congestion charges, terrorist attacks, over development AND jellied eels any day of the week. Yawravvin a larf gavna.

Believe it or not there are areas where I would welcome exactly that. We have had a great improval in the state of our area - it has led to zero benefit to many of those living here. The only change has been an influx of people resulting in making life more difficult for those who were here in the first place!

Tassotti wrote:

People who cannot afford to buy..don't..

People who can.. do.and make the money....

So what about all those people who have bought yet cannot really afford to buy? Just because they can buy today does not mean they can afford it. The vast majority of buyer I know have not calculated what is actually affordable and what the market may do. It is assumed that one takes as much as the bank gives - they wouldnt give out more than is reasonable, there is a 'system' in place to ensure that.

arthur_dent_2

ukbondraider wrote:

The problems lies in the fact that we all want the same level of things and therefore complain. Every male whether ugly or attractive wants to have that very stunning female. Every working person whether toilet cleaner or footballer wants that same 10 acre 100 bed castle. This is where the problems lies.

Yeah, I obviosly have illusions of grandeur as I would like more than one bedroom for myself, my husband and my 2 children.

ukbondraider

They are 22yrs old and 1 yr out of university

ukbondraider

franklee wrote:

ukbondraider,

At first glance from your post it looks like your sister and her boyfriend are pretty well off and should be OK with a 4 x joint salary mortgage of 300K. (40K+35K) * 4 = 300K. BUT if that is the case why are they buying a 300K house with a 300K mortgage? In other words where is their saved deposit?!!

If they've got to the point where they wish to buy together but even with a combined income of 75K still need a 100% mortgage then that would indicate to me that their lifestyle doesn't leave any room for saving. This does not bode well for the servicing of a 300K mortgage as they are never mind for the future of higher rates after the five year fix of 5.15% ends or if they want children etc.

Meant to quote this

ukbondraider

roswell wrote:

The current environmant of high lending is just creating a bigger collapse when interest rates return to mean and insiolvancies will be massive.

Like I said before, if you are prudent then this shouldnt affect you.

There are 10yr fixes out there for around 5.5%.

Given that most people should aim to overpay every month then rate rises have little effect. Those that overstretch themselves and go on interest only or non fixed discounted rates cant afford to buy their house and they should not be buying.

ukbondraider

arthur_dent wrote:

Yeah, I obviosly have illusions of grandeur as I would like more than one bedroom for myself, my husband and my 2 children.

??

There are plenty of 2 or 3 bed houses. The problem is, is that you probably dont have the salary but still want to live in a "nice" area or a "nice" home.

Either improve things your end or consider a "cheaper" area and/or a "lesser home". This is exactly my point.

You either shouldnt be thinking about buying a house like students shouldnt be thinking about buying a Ferrari even most will really want one or you adjust your expectations to realistic ones based on the current climate.

arthur_dent_2

I already live in the cheapest area, I live in the middle of rural lincolnshire not very far from the Grimsby that is so frequently mentioned. Also how exactly can I have a lesser than one bedroomed home?

I was lucky enough to buy my house before the property boom and I cannot afford to move as the prices have increased a lot leading to a larger gap between the cheap and more expensive housing.

Rent in this area is 3 times what I pay on my mortgage and the council waiting list is a minimum of 5+ years and that is if you are lucky.

My one bedroom house is truly my only option.

BobProperty

Tassotti wrote:

Here we go.. another affordability question...

People who cannot afford to buy..don't..

People who can.. do.and make the money....

Always been that way..

No change....bring on lifetime carying on mortgages..maybe someone can afford to buy my portfolio.

I'll offer you 6 times the rent roll provided you give me a private mortgage........:D

lisyloo

My one bedroom house is truly my only option.

Contraception is your other option.

Sorry to sound harsh, but if you can't afford BOTH a bigger house and children then you need to decided WHICH one it will be.

It sounds like you have decided and I wish you every happiness with you decision and your family.

Unfortunately the harsh reality of life is that we can't all afford every thing we want exactly when we want it.

FWIW I think you've probably made the right choice in having children over bricks & mortar but why do you think you are entitled to have everything you want when you want it?

arthur_dent_2

lisyloo wrote:

Contraception is your other option.

Sorry to sound harsh, but if you can't afford BOTH a bigger house and children then you need to decided WHICH one it will be.

It sounds like you have decided and I wish you every happiness with you decision and your family.

Unfortunately the harsh reality of life is that we can't all afford every thing we want exactly when we want it.

FWIW I think you've probably made the right choice in having children over bricks & mortar but why do you think you are entitled to have everything you want when you want it?

I very much don't. You are absolutly 100% correct it was entirely mine and my husbands decision to have children and I certainly don't regret thet decision in any way. I was disputing the arguement that anyone can change their circumstances if they want to. I would not say because I would like a three bedroomed house that this makes me either wrong or wanting to keep up with the joneses. Also it does not mean I want everything now. My children are three and 5, in a few years time they are going to wonder why they are the only ones out of their friends who have to sleep in the same room as their parents. As house prices are continuing to rise the gaps between house prices are only going to worse and the rents are going to get higher.

Contraception may have been an option before I had them but it isn't now. (We are not having any more). We are stuck with things the way they are. I except that but that does not mean I am wrong in wishing it to be different.