Sell early 2008, buy back 2015?

manhattan

why do some house owners get soooo defensive and angry when people talk about a possible property correction?

just accept it! or ignore it!

Jon211

hitman_uk wrote:

What utter rubbish. I am a FTB and earn enough to buy but i just refuse to do so. If the other 10 infront of me are like 2 of my friends who earn alot less but agree to borrow 6 times there salary over 50 years for a 2 bed terrace on a main road then more fool them.

Same here.
My sister and her boyfriend bought last year and now have a 40 year mortgage paying interest only on 5 times their joint salary.
They're already saying that if interest rates rise much more they're going to have to sell up.

I earn more than both of them combined and have a sizable deposit, but refuse to buy at the moment.
Not because I believe property prices have peaked, but because I don't want to end up spending half my net income on mortgage payments, especially with interest rates predicted to rise and when I can rent a place for £3-400 a month less (or continue in the shared house I'm in now for £700 a month less than a mortgage)

pioneer

Id tend to believe a local site a little more; have you seen where play the system are :

cwcw

You could do that. You could also buy a couple of hundred thousand lottery tickets with the sale proceeds while you're at it.

CB1979_2

if you can't afford it, don't buy!

if you think they're overpriced, don't buy!

if you don't want a mortgage for a long time, don't buy!

if you'll be better off renting, don't buy!

i just can't quite see how that needs debating

if prices are too much in your area, move if you really want on the ladder?????

again all the talk of how property is overpriced, "can't wait for a crash, etc etc" well I wonder if you'll be wanting that when (well IF) you get on the ladder, if it's such a joke what's the big deal?

undercoat11

Germany, Germany - I hear such a lot about it being a good investment. I bought a house there some years ago - for my mother who is German and wanted to go back there without selling her UK home. I have spent a considerable amount of money doing this house up for her, by putting in new bathroom, etc. However, it is worth less now than when I bought it, despite the heating, new kitchen, etc. I don't mind too much because it is on the side of a beautiful lake in a forest and we go there on hols when she is in UK. I wouldn't hold your breath with Germany though. Taxation is cruel there and you can't change Germans' relationship with renting property. Just because English people are totally 100% obsessed with houses, you won't make Germans the same - they all think we are mad!

Alan_M_2

Generali wrote:

There's nothing harder to predict than the future.

I dunno....My ex wife was quite challenging

zipwen1

manhattan wrote:

why do some house owners get soooo defensive and angry when people talk about a possible property correction?

just accept it! or ignore it!

firstly because its our house and we have worked hard to save a deposit and work even harder to pay our mortgage.
why shouldnt we get defencive at the people who are praying we will lose money on our property that we have worked so hard for, just so they can reep the rewards and not do any work for it.
owening a house to many people isnt about making money on it, its about being able to call it your own, to have something to show for all of your hard effots at work, to have something to leave your children when your gone.
when people are waiting with baited breath to take that away from you why shouldnt we get anoyed.

manhattan

yes, but you most probably have a bit of "paper equity" in your house, so if there is a correction you have probably lost NOTHING!

people dont work hard for that equity, its just luck at the end of the day and i will try my luck to buy my family a house whenever that happens.

and your not the only one who has worked hard to save a deposit, i am sitting here with a nice big sum towards a suitable starter home at a suitable price!

and believe me i bust my ball$ saving that!

seven-day-weekend

zipwen1 wrote:

firstly because its our house and we have worked hard to save a deposit and work even harder to pay our mortgage.
why shouldnt we get defencive at the people who are praying we will lose money on our property that we have worked so hard for, just so they can reep the rewards and not do any work for it.
owening a house to many people isnt about making money on it, its about being able to call it your own, to have something to show for all of your hard effots at work, to have something to leave your children when your gone.
when people are waiting with baited breath to take that away from you why shouldnt we get anoyed.

So if you want to keep it and leave it to your children, why does it matter whether the market falls or not? It only matters if you are selling!