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Debate House Prices
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Just Had a Thought .....
Comments
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We bought in 2009 as FTBs with a tracker of 2% above BoE (yes not quite 2%, but not too bad) and as the OP points out there is a good chance we could be MF by 2019... or more likely have moved to a bigger house! Whether or not we will look back and think that we did well, I'm not sure, but we do have a lovely home that we wouldn't have been able to afford if prices hadn't dropped.0
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I predict, and it's not clever - just common sense - that 2009 will be seen as the golden chance to buy ...... indeed, that is already the case here in the South.
I believe that those who bought in 2009 on 2% Tracker Mortgages are absolutely in the best position of any homebuyer in the history of mankind.Bringing Happiness where there is Gloom!0 -
Well 2.7% isn't 2% and presumably that was a 2 or 5 year deal, reverting to a higher rate. Either way it isn't the 2% lifetime deal Mr Ree seems to have dreamt up.
You said: "Nobody who bought in 2009 will have rates anywhere near as low as 2%, even with a massive deposit."
I was simply pointing out that we bought in 2009, without a massive deposit and our rate was 'near' 2%.
It wasn't a fixed deal that reverts to a higher rate, it's a tracker product.0 -
I predict, and it's not clever - just common sense - that 2009 will be seen as the golden chance to buy ...... indeed, that is already the case here in the South.
I believe that those who bought in 2009 on 2% Tracker Mortgages are absolutely in the best position of any homebuyer in the history of mankind.
It may of been a good time to buy. I am not doubting that, but for me personally it wasn't and I needed the extra years to get my money in order. Now after the dead cat bounce I will have the opportunity to buy when I want. Personally I think prices will go down a lot further this time.
I will simply buy in certain areas when certain properties just come above my sustainable price range with lower offers.:exclamatiScams - Shared Equity, Shared Ownership, Newbuy, Firstbuy and Help to Buy.
Save our Savers
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It may of been a good time to buy. I am not doubting that, but for me personally it wasn't and I needed the extra years to get my money in order.
And that's the key, there is no 'good year' to buy. The right time to buy for someone is the right time for them. That means 2007 could be the right time for someone if the factors in their life at that point suited buying.0
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