House prices surge......

MrRee_2

Going4TheDream wrote: »

Afterall I seem to recall a post or two from yourself saying rent money is wasted money.... he is saving the money he would have 'wasted' on rent to save for a (mortgage free) house ......... seems sensible to me

True, true ... but, come on, how long will it take saving £1,000 a month to have enough to buy the average house at £165,000?

165 months, that's well over 13 years!

Save £500 a month and it's 26 years!!

Remember that he plans to buy in cash when prices equal his savings ...... I suspect that the wait will be at least 13 years (IF prices remain static).

Taking a 13 year view, there has never, ever, been a time where over 13 years house prices are less than they were at the start of that period.

Over 26 years it's a no-brainer .... surely even the most hardened HPC Poster can admit that, at least?

So, basically, Jimmy31 is going to be very disappointed - and I'm trying (in the most humourous way I know) to alert him to the facts.

I'm very old and bought/sold more properties than most on here - I also have no vested interest. I am wanting to buy (so, want falling prices) and I own (so, don't mind rising prices).

The only axe I have to grind is the one of common sense and logic.

Jimmy_31

MrRee wrote: »

True, true ... but, come on, how long will it take saving £1,000 a month to have enough to buy the average house at £165,000?

165 months, that's well over 13 years!

Save £500 a month and it's 26 years!!

Remember that he plans to buy in cash when prices equal his savings ...... I suspect that the wait will be at least 13 years (IF prices remain static).

Taking a 13 year view, there has never, ever, been a time where over 13 years house prices are less than they were at the start of that period.

Over 26 years it's a no-brainer .... surely even the most hardened HPC Poster can admit that, at least?

So, basically, Jimmy31 is going to be very disappointed - and I'm trying (in the most humourous way I know) to alert him to the facts.

I'm very old and bought/sold more properties than most on here - I also have no vested interest. I am wanting to buy (so, want falling prices) and I own (so, don't mind rising prices).

The only axe I have to grind is the one of common sense and logic.

I am buying a house.

I am not buying the average house.

Have you no common sense, use some logic mate.

Going4TheDream

Jimmy_31 wrote: »

He wont respond well to a reasoned and logical post like that;)

We will see! Unless your mum is going to drop you a good few grand to help you on the way she is helping you out in the way she can. No problems with that.

I wonder out of curiosity if you would get the same stick if you were a girl, staying at home rent free?

BTW where does this 'buying' a wife bit come from?? Sounds all a but seedy to me, but maybe all the real women saw through his 'portfolio' chat up lines, and it was the only option left to him :rotfl:

Going4TheDream

MrRee wrote: »

True, true ... but, come on, how long will it take saving £1,000 a month to have enough to buy the average house at £165,000?

165 months, that's well over 13 years!

Save £500 a month and it's 26 years!!

Remember that he plans to buy in cash when prices equal his savings ...... I suspect that the wait will be at least 13 years (IF prices remain static).

Taking a 13 year view, there has never, ever, been a time where over 13 years house prices are less than they were at the start of that period.

Over 26 years it's a no-brainer .... surely even the most hardened HPC Poster can admit that, at least?

So, basically, Jimmy31 is going to be very disappointed - and I'm trying (in the most humourous way I know) to alert him to the facts.

I'm very old and bought/sold more properties than most on here - I also have no vested interest. I am wanting to buy (so, want falling prices) and I own (so, don't mind rising prices).

The only axe I have to grind is the one of common sense and logic.

I suppose it all depends on where he buys, what type of house and the condition (being a builder is useful I imagine) and that will determine the price he pays...

I recall dating a builder at one convenient stage in my life, saved me a fortune in renovation costs (spent a lot on beer/bacon sandwiches and tea for him and his mates though)

Percy1983

MrRee wrote: »

Wife is fully paid up, thanks.

When you get a Girlfriend you will understand more about life and stuff .... but, first, you need to show you have a place of your own - it's a thing women look for see?

A masculine male who has his own place - saying you live in the bosses cellar will not win any kisses I'm afraid.

So, not only will you own your own place if you buy now - you will attract a mate!!

You can't lose!

I managed to attract a mate while still living with parents, as it is she still lives with hers, we are now going to buy a house together, many years ago it may have been how you explain, but these days the only real way to afford a house for many is to find the mate and then buy.

As for the dip, locally the bottom of the dip is right now, way past 2009.

Jimmy_31

Going4TheDream wrote: »

We will see! Unless your mum is going to drop you a good few grand to help you on the way she is helping you out in the way she can. No problems with that.

I wonder out of curiosity if you would get the same stick if you were a girl, staying at home rent free?

BTW where does this 'buying' a wife bit come from?? Sounds all a but seedy to me, but maybe all the real women saw through his 'portfolio' chat up lines, and it was the only option left to him :rotfl:

The weird one has not let his views be known on women staying with their parents whilst they save a deposit. should be fun when he does.

The buying a wife thing is something i recently became aware of myself, apparently a poster on here had to go halfway around the world and pay somebody to marry them. I cant remember who it was but it was one of the deranged posters. i cant tell the deranged posters apart with their pretend identitys so as far as im concerned all the weird ones have bought a wife.

Constant knockbacks will do that to a man, well some "men":)

MrRee_2

I have never mentioned living at home with mummy as a bad thing ...... I'm not sure if the Jimmy 31 means you are 31 year old? If it does mean that you are 31 then there is something wrong, somewhere.

At that age, no girlfriend, no wife, still with Mummy or in the bosses cellar, I think you will have to get a mail order bride yourself. And, really, at 31 you should be the site foreman, not the hod carrier!

As for a young lady living at home - well, these days, the girls leave home earlier than mummies boys and they earn just as much (if not more) - definately more than a hod carrier who has to live 'on site' in an unfinished shell ... that can't be right, surely at 31 it has come to more than this?

Anyway, you did mention that you could buy a home for £25,000 or something ..... just 100 months at £250 a month.

Waiting for 8 years to buy outright a house costing £25,000 is not my idea of fun to be honest - £25,000 wouldn't cover the cost of my garage!

badrobot76

Newspapers are becoming very predictable in what they are going to print and are now as we all know pandering to their regular fan base , trouble else people love this nonsense, because it reassures them. This is despite it being very very far from real headline news and clear one sided propaganda.

Don’t believe everything you read.

Going4TheDream

MrRee wrote: »

I have never mentioned living at home with mummy as a bad thing ...... I'm not sure if the Jimmy 31 means you are 31 year old? If it does mean that you are 31 then there is something wrong, somewhere.

At that age, no girlfriend, no wife, still with Mummy or in the bosses cellar, I think you will have to get a mail order bride yourself. And, really, at 31 you should be the site foreman, not the hod carrier!

As for a young lady living at home - well, these days, the girls leave home earlier than mummies boys and they earn just as much (if not more) - definately more than a hod carrier who has to live 'on site' in an unfinished shell ... that can't be right, surely at 31 it has come to more than this?

Anyway, you did mention that you could buy a home for £25,000 or something ..... just 100 months at £250 a month.

Waiting for 8 years to buy outright a house costing £25,000 is not my idea of fun to be honest - £25,000 wouldn't cover the cost of my garage!

I am sure you will find there are MANY older kids living back at home with their parents these days for a number of reasons.

House prices likely being the main one I would suspect.

I think you are being very pedantic. In your original post you suggested saving a £1k a month would take 165 months to save for the average house, fair comment

Yet now you are saying saving £250 a month would take 100 months to save for a £25k house. Why would anyone drop their amount of savings just because the house was cheaper with the slight rises we are seeing now it makes no sense?

Saving the same £1k a month would only take 25 months.

So putting it into perspective just over two years of inconvenience all round and he owns a house. Not bad being mortgage free at a young age, and to use your stereotyping probably a great deal more attractive to the ladies????

andybenw

MrRee wrote: »

True, true ... but, come on, how long will it take saving £1,000 a month to have enough to buy the average house at £165,000?

165 months, that's well over 13 years!

Save £500 a month and it's 26 years!!

Remember that he plans to buy in cash when prices equal his savings ...... I suspect that the wait will be at least 13 years (IF prices remain static).

Taking a 13 year view, there has never, ever, been a time where over 13 years house prices are less than they were at the start of that period.

Over 26 years it's a no-brainer .... surely even the most hardened HPC Poster can admit that, at least?

So, basically, Jimmy31 is going to be very disappointed - and I'm trying (in the most humourous way I know) to alert him to the facts.

I'm very old and bought/sold more properties than most on here - I also have no vested interest. I am wanting to buy (so, want falling prices) and I own (so, don't mind rising prices).

The only axe I have to grind is the one of common sense and logic.

I am probably in the same sort of situation as someone living with their mum as regards to saving. With my motgage paid I am now saving for a BTL. I aim to buy cash in a couple of years for 100k which where I am will buy an average FTB type house. But certainly not an average 165k house.

I'd imagine Jimmy is aiming for something like this. He says he pays his way when he is at his mums and is also saving a fair amount.

I'd imagine he has already saved a whack and is well on the way.

Surely it's to be commended to be saving hard so as to buy quickly and if it can be done, to buy for cash or at least with the smallest mortgage possible