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Debate House Prices
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Come on bears, admit it.....
HAMISH_MCTAVISH
Posts: 28,592 Forumite
If you'd known back in 2007 that:
- house prices would fall by 20% or so as a national average,
- then recover to just 10% falls as a national average within a few years.
- that base rates would fall to 0.5% and stay there for 5 years or more
- while rents soared to new record highs
- that you could have got a lifetime tracker mortgage at 100% LTV for just base rate plus 0.5%
- but that 2 years later you'd need a 40% deposit to get base plus 2% and even then only on a short term deal and reverting to an SVR of base + 3% or more....
You'd all have bought a house, wouldn't you?:rotfl:
- house prices would fall by 20% or so as a national average,
- then recover to just 10% falls as a national average within a few years.
- that base rates would fall to 0.5% and stay there for 5 years or more
- while rents soared to new record highs
- that you could have got a lifetime tracker mortgage at 100% LTV for just base rate plus 0.5%
- but that 2 years later you'd need a 40% deposit to get base plus 2% and even then only on a short term deal and reverting to an SVR of base + 3% or more....
You'd all have bought a house, wouldn't you?:rotfl:
“The great enemy of the truth is very often not the lie – deliberate, contrived, and dishonest – but the myth, persistent, persuasive, and unrealistic.
Belief in myths allows the comfort of opinion without the discomfort of thought.”
-- President John F. Kennedy”
Belief in myths allows the comfort of opinion without the discomfort of thought.”
-- President John F. Kennedy”
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Comments
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HAMISH_MCTAVISH wrote: »If you'd known back in 2007 that:
- house prices would fall by 20% or so as a national average,
- then recover to just 10% falls as a national average within a few years.
- that base rates would fall to 0.5% and stay there for 5 years or more
- while rents soared to new record highs
- that you could have got a lifetime tracker mortgage at 100% LTV for just base rate plus 0.5%
- but that 2 years later you'd need a 40% deposit to get base plus 2% and even then only on a short term deal and reverting to an SVR of base + 3% or more....
You'd all have bought a house, wouldn't you?:rotfl:
And I take it that you might have bought some gold if you knew what you know now.30 Year Challenge : To be 30 years older. Equity : Don't know, don't care much. Savings : That's asking for ridicule.0 -
HAMISH_MCTAVISH wrote: »If you'd known back in 2007 that:
- house prices would fall by 20% or so as a national average,
- then recover to just 10% falls as a national average within a few years.
- that base rates would fall to 0.5% and stay there for 5 years or more
- while rents soared to new record highs
- that you could have got a lifetime tracker mortgage at 100% LTV for just base rate plus 0.5%
- but that 2 years later you'd need a 40% deposit to get base plus 2% and even then only on a short term deal and reverting to an SVR of base + 3% or more....
You'd all have bought a house, wouldn't you?:rotfl:
This should go over on the other site too. Timm himself has taken to putting on some bullish news as there are NO bulls left over there. One of the Ozzies has popped over to abuse and be abused on the site.
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HAMISH_MCTAVISH wrote: »If you'd known back in 2007 that:
- house prices would fall by 20% or so as a national average,
- then recover to just 10% falls as a national average within a few years.
- that base rates would fall to 0.5% and stay there for 5 years or more
- while rents soared to new record highs
- that you could have got a lifetime tracker mortgage at 100% LTV for just base rate plus 0.5%
- but that 2 years later you'd need a 40% deposit to get base plus 2% and even then only on a short term deal and reverting to an SVR of base + 3% or more....
You'd all have bought a house, wouldn't you?:rotfl:
If i had bought a house in 2007 i would now be absolutely gutted i didnt wait for the crash.
I have already saved thousands upon thousands of pounds, and the longer i wait the better it gets.
Thankfully in my area, houses are nowhere near the national average price and are getting lower all the time.0 -
HAMISH_MCTAVISH wrote: »If you'd known back in 2007 that:
- house prices would fall by 20% or so as a national average,
- then recover to just 10% falls as a national average within a few years.
- that base rates would fall to 0.5% and stay there for 5 years or more
- while rents soared to new record highs
- that you could have got a lifetime tracker mortgage at 100% LTV for just base rate plus 0.5%
- but that 2 years later you'd need a 40% deposit to get base plus 2% and even then only on a short term deal and reverting to an SVR of base + 3% or more....
You'd all have bought a house, wouldn't you?:rotfl:
You can't beat a good bear baiting session. :T0 -
HAMISH_MCTAVISH wrote: »If you'd known back in 2007 that:
- house prices would fall by 20% or so as a national average,
- then recover to just 10% falls as a national average within a few years.
- that base rates would fall to 0.5% and stay there for 5 years or more
- while rents soared to new record highs
- that you could have got a lifetime tracker mortgage at 100% LTV for just base rate plus 0.5%
- but that 2 years later you'd need a 40% deposit to get base plus 2% and even then only on a short term deal and reverting to an SVR of base + 3% or more....
You'd all have bought a house, wouldn't you?:rotfl:
Why do you think that bears don't own a house?
I'm a bear because in my opinion house prices have a long way to fall, not because I want or need them to.
In fact I don't give a t**s what they do .....0 -
Prefer how it went for me. Cashed in on the 30% local crash in prices, having saved a 30% deposit, got a mortage at 1.99% over base for the life of the mortgage and am now paying over 1.5% of the mortgage off a month.
Certainly dont regret not buying at peak Hamish (bought early 2010)!0 -
HAMISH_MCTAVISH wrote: »If you'd known back in 2007 that:
- house prices would fall by 20% or so as a national average,
- then recover to just 10% falls as a national average within a few years.
- that base rates would fall to 0.5% and stay there for 5 years or more
- while rents soared to new record highs
- that you could have got a lifetime tracker mortgage at 100% LTV for just base rate plus 0.5%
- but that 2 years later you'd need a 40% deposit to get base plus 2% and even then only on a short term deal and reverting to an SVR of base + 3% or more....
You'd all have bought a house, wouldn't you?:rotfl:
Dunno, H.
No one can see into the future of course but if, ex post, I had to rank recent years by quality of time to buy based on a completely unscientific mix of prices, interest rates, and personal views I'd come up with something like:
2005 or earlier
2009
2011
2010
2006
[a long way down]
2008
2007.
All of the above assumes, I suppose, no problems in getting a deposit.FACT.0 -
HAMISH_MCTAVISH wrote: »If you'd known back in 2007 that:
- house prices would fall by 20% or so as a national average,
- then recover to just 10% falls as a national average within a few years.
- that base rates would fall to 0.5% and stay there for 5 years or more
- while rents soared to new record highs
- that you could have got a lifetime tracker mortgage at 100% LTV for just base rate plus 0.5%
- but that 2 years later you'd need a 40% deposit to get base plus 2% and even then only on a short term deal and reverting to an SVR of base + 3% or more....
You'd all have bought a house, wouldn't you?:rotfl:
I suppose there is nothing in your life you would do over.0 -
and lost money?
So even with a stupid retrospective you think it would have been a good idea?0
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