Young generation want too much too soon

homelessskilledworker

Le_Chuck wrote: »

I know i'm being a bit pedantic, but would revise that figure to 'under 30'

Explain....................

moneyinmypocket

So you think there is going to be a HPC then, ok what are you expecting prices to drop too - type it out so we know what we are dealing with and do it with a straight face

Le_Chuck

moneyinmypocket wrote: »

I agree with the deposit bit hence why I think they should scrap that for anyone who is going to buy to live in it. Even still though it can be saved up it just takes a few years. What I don't get is there are people out there who think they will wake up one morning and house prices will be 50% lower and suddenly they will move into there house

Thats how we got into the mess in the first place, by banks offering risking loans.

Unemployments creeping up, the short term future isn't looking great with a good possibility of slipping back into recession, which will have a downward pressure on house prices. Thats why the banks are asking for higher deposits as it protects them from losses should things go tits up.

suburbanwifey

moneyinmypocket wrote: »

So you think there is going to be a HPC then, ok what are you expecting prices to drop too - type it out so we know what we are dealing with and do it with a straight face

They won't crash! end of. They will at worst stabilize and then will continue going upwards. Anyone who can buy, should in my opinion, as hard as it is to buy. You get better off over the years when you buy (usually!) whereas with rent, rent keeps on going up and up and it doesn't end when you retire. Renting costs only end when you die.

Le_Chuck

homelessskilledworker wrote: »

Explain....................

a 30 y/o could have bought a house in 2002.

I'm 33 & bought mine around then dirt cheap, was mortgage free by 28

suburbanwifey

Le_Chuck wrote: »

a 30 y/o could have bought a house in 2002.

I'm 33 & bought mine around then dirt cheap, was mortgage free by 28

Well done you! smart guy

homelessskilledworker

moneyinmypocket wrote: »

So you think there is going to be a HPC then, ok what are you expecting prices to drop too - type it out so we know what we are dealing with and do it with a straight face

Yes I really honestly do, but I have no idea what form it will take. I personally welcome for my own selfish needs a sharp fast fall, but I also think it would be better for the UK economy in that people will see property as cheap and then hopefully we will get a buzzing market which leads to all the other off shoots when buying.

My biggest concern though is that we will get a long drawn out affair like Japan, it will be like death from a thousand cuts. And from my side it will be no better for me, even though I will not have the worry of watching my asset shrink over a long period, not a good for any man watching his assets shrink

Today even though there is a downward trend kicking in, FACT, we still have a huge stand off going on. The property market is a living beast, I know you get people on here saying they will sit tight no matter what(and maybe they will) but the fact is the economy and europe and peoples debt burden is getting no better and people will cave in.

It reminds of the old miners strike back in the 80's, those guys were solid to start with. Months later one or two crumbled even with all the stress and pressure not to, then others followed, then the whole strike collapsed with your last few die hards still standing strong.

EchoLocation

suburbanwifey wrote: »

They won't crash! end of. They will at worst stabilize and then will continue going upwards. Anyone who can buy, should in my opinion, as hard as it is to buy. You get better off over the years when you buy (usually!) whereas with rent, rent keeps on going up and up and it doesn't end when you retire. Renting costs only end when you die.

Crash? No.
Continue falling? Yes.

homelessskilledworker

Le_Chuck wrote: »

a 30 y/o could have bought a house in 2002.

I'm 33 & bought mine around then dirt cheap, was mortgage free by 28

Good for you, seriously.
But you are a one off and we are talking in general here.

homelessskilledworker

suburbanwifey wrote: »

They won't crash! end of. They will at worst stabilize and then will continue going upwards. Anyone who can buy, should in my opinion, as hard as it is to buy. You get better off over the years when you buy (usually!) whereas with rent, rent keeps on going up and up and it doesn't end when you retire. Renting costs only end when you die.

I mostly agree with you opinions, but in part you are making my argument for me.
Nothing is going to happen in the next three years, at the very worse prices will stay stable as you say. So if you can and your main worry was being left behind then there is no worry now, and in a few years time it could be that prices are much cheaper.

Anyone who can wait and wants to wait(go and enjoy your youth for a while longer) is now in a win win postion.