What is wrong with wanting cheaper homes

Jimmy_31

wotsthat wrote: »

Hoping isn't the same as planning.

As you are so sanguine about houses falling in price after purchase then using my example why not use your £100,000 cash as a deposit and buy the £150,000 house. Job done.

There is no way im paying 100k for a house.

I could get nearly 3, 2 bed terraces for that around here or 2.5 shiney new build flats in the town centre.

I also would rather not take on a debt as the job prospects around here are already pretty much zero, so it would be quite stupid of me to get into debt knowing full well im probably not going to have a job next year.

wotsthat

ukcarper wrote: »

I own my house outright and do not particularly want to see prices fall I would be quite happy if they stagnate for a few years bringing the price down in real terms. But as much as I would like it to be easier for younger people to buy I wouldn’t want to see people who bought in the last few years suffer.

This would be my ideal too - nominal stagnation and real falls. It's happening now but IMO is being caused by the lack of mortgage lending. Without more homes being built I just can't see stagnation continuing when mortgage lending increases.

RenovationMan

Jimmy_31 wrote: »

There is no way im paying 100k for a house.

I could get nearly 3, 2 bed terraces for that around here or 2.5 shiney new build flats in the town centre.

A reminder of why it's a waste of time trying to have a reasonable discussion with certain people on here.

wotsthat

Jimmy_31 wrote: »

There is no way im paying 100k for a house.

I could get nearly 3, 2 bed terraces for that around here or 2.5 shiney new build flats in the town centre.

I also would rather not take on a debt as the job prospects around here are already pretty much zero, so it would be quite stupid of me to get into debt knowing full well im probably not going to have a job next year.

They are just example figures and still work round your way just with smaller numbers.

If you are going to be unemployed it might not be sensible to have a load of savings either.

lazer

MrsRee wrote: »

Precisely. Well said. We all started at the bottom in the less desirable areas, but the trouble with todays self-entitled yoof is they expect to be funded until their 40's by their parents and to move immediately into a 3 bed semi.

In a falling market no-one should buy a starter home. Do not buy a house unless it is one you could potentially see yourself living in forever with a husband or wife and children etc.

Why do people insist that getting on the property ladder is good whatever the circumstances?

My advice for everyone is don't buy anything under a 3 bed, unless there is room for an extension. Don't buy in a dodgy area where you wouldn't want your children to grow up (even if you are single and its not even on your radar at the minute unless you are completely sure you never want children)

Life changes what you need, make sure your home can cope with most eventualities that the future will bring
A house is a home, not an investment.

Note - At 29, I hae just moved into a 3 bed semi as the first house I have ever owned, and possibly the only one i will ever own!

Jimmy_31

RenovationMan wrote: »

A reminder of why it's a waste of time trying to have a reasonable discussion with certain people on here.

I do apologise for not agreeing with you.

nembot

RenovationMan wrote: »

That's a strange concept of 'decent' where you're happy to see thousands of hard working families end up with the misery of negative equity and lose thousands of pounds on what might be their only asset and might represent the entirety of their savings. Still, as long as you get a cheap home, huh hlsw?


There's two sides to the over-the-top emotional argument coin.

Oh please spare us from the moral high ground Jack, cuz you're alright yes?

Graham_Devon

FTBFun wrote: »

The overall housing stock wouldn't change however - you can't expect both purchase prices and rental prices to fall in such a circumstance.

Out of interest....why not?

Doesn't conform to the rule?

RenovationMan

Jimmy_31 wrote: »

I do apologise for not agreeing with you.

Happy to have people not agree with me, I just despair when they pull out the fantasy 3 houses for £100k in Manchester nonsense.

RenovationMan

nembot wrote: »

Oh please spare us from the moral high ground Jack, cuz you're alright yes?

Um, I thanked your post because I thought you got the humour in my post. Now I'm not so sure. You did get the humour in my post didn't you? Your post was just being ironic, right?