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Debate House Prices
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Is it a bad time to buy a house as an investment? If so why?
Comments
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Its very simple really, now is a bad time to buy a house because we are about half way through a property bear market.
We are looking at around a 50% real term crash and around halfway through so far.
Why try to catch a falling knife? Myself I think its prudent to wait until it has safely touched bottom then take your time at the auction houses which will be full of repossessions.Big deflation your debts are going up against everything else. I would not like to be a property owner with a big mortgage right now, pay off your debts ASAP!0 -
Bad time for the house maybe but amazing time to buy the finance
Finance is far greater cost then the house itself.
Overall now is a great time to buy presuming you can actually afford it
- fix the rates. This is the bottom. I agree about auction houses if you mean buying outright in cash then you can wait forever to get that perfect bargain.Why try to catch a falling knife? Myself I think its prudent to wait until it has safely touched bottom then take your time at the auction houses which will be full of repossessions.
There is bound to be desperate scenarios played out on absolutely amazing locations and a cash buyer can survey at their leisure
Most people need to be more pragmatic, address your largest challenges0 -
Bigdeflationfirst wrote: »Its very simple really, now is a bad time to buy a house because we are about half way through a property bear market.
We are looking at around a 50% real term crash and around halfway through so far.
Why try to catch a falling knife? Myself I think its prudent to wait until it has safely touched bottom then take your time at the auction houses which will be full of repossessions.
Who have we got here Mystic Meg
'Just think for a moment what a prospect that is. A single market without barriers visible or invisible giving you direct and unhindered access to the purchasing power of over 300 million of the worlds wealthiest and most prosperous people' Margaret Thatcher0 -
sabretoothtigger wrote: »
Bad time for the house maybe but amazing time to buy the finance
Finance is far greater cost then the house itself.
At last, someone on here that can actually see the wood for the trees.0 -
Who have we got here Mystic Meg
Thanks for the compliment Stevey
You agree then that houses are still overvalued but on their way to undervalued?
When the bottom finally comes and we are 50% down in real terms from the top, every measure will show property is once again undervalued. But we have some way to go yet.
There are so many home owners who can just about afford their mortgage now while we still have cheap easy credit. When this comes to an end repossessions will be filling the auction houses.Big deflation your debts are going up against everything else. I would not like to be a property owner with a big mortgage right now, pay off your debts ASAP!0
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