A cry of anguish

homelessskilledworker

ILW wrote: »

I find that a fair few of the whingers when pushed, seem to be very fussy about what areas they are prepared to live in. suggest say Woolwich or Plumstead and they dismiss is out of hand. Very spoilt attitude.

There are loads of houses for less than £150k within 30 miles of central London for example.

Fair point, and one I partially agree with.

But lets hope you have the same attitude when or if the housing stock loses 30% of its value, not a vast amount in anyones business plan, and very possible.
Could you withstand a 30% fall in property prices and continue with your present lifestyle?? Actually could any of the property rampers on this board withstand a 30% drop, hope you just take it on the chin without the "whinging" when/if it happens.

No doubt though all of the property investors on MSE have investments that are now three fold their intial starting price.

DpchMd

homelessskilledworker wrote: »

Could you withstand a 30% fall in property prices and continue with your present lifestyle?? Actually could any of the property rampers on this board withstand a 30% drop, hope you just take it on the chin without the "whinging" when/if it happens.

Why would a 30% drop in the value of someone's home force a change in their lifestyle?

You do know how mortgages work, don't you?

vivatifosi

ruggedtoast wrote: »

The first "bargain" you linked to, which is almost 2 miles from Wellingborough train station, would cost a commuter £5360 in post tax income to actually travel into London Bridge each year.

If they were unlucky enough to need to use the tube this would rise to £6100 a year.

How do you expect someone on an average wage to afford this, pay a mortgage, pay childcare, and go to work? Oh look they can't, they have to remain amongst the working poor in London. Unable to really afford to rent, unable to buy, unable to have kids with or without sanctimonious internet commentards carping about living within their means and tightening their belts.

You can get a nice two bed flat in Stevenage for £115k with two good sized bedrooms. Commute to Kings Cross is £3,200pa. That would get someone on the ladder with a bit of room for growth:
http://www.rightmove.co.uk/property-for-sale/property-38553962.html

And before you ask, I bought my first house in a Hertfordshire new town but back then could only afford a one bedroom, so yes I would consider something like this if I was starting over.

ILW

homelessskilledworker wrote: »

Fair point, and one I partially agree with.

But lets hope you have the same attitude when or if the housing stock loses 30% of its value, not a vast amount in anyones business plan, and very possible.
Could you withstand a 30% fall in property prices and continue with your present lifestyle?? Actually could any of the property rampers on this board withstand a 30% drop, hope you just take it on the chin without the "whinging" when/if it happens.

No doubt though all of the property investors on MSE have investments that are now three fold their intial starting price.

It would not affect my lifestyle at all if properties dropped 30%. Why would you think it would?
I have never invested in property, did buy a house though.

ILW

vivatifosi wrote: »

You can get a nice two bed flat in Stevenage for £115k with two good sized bedrooms. Commute to Kings Cross is £3,200pa. That would get someone on the ladder with a bit of room for growth:
http://www.rightmove.co.uk/property-for-sale/property-38553962.html

And before you ask, I bought my first house in a Hertfordshire new town but back then could only afford a one bedroom, so yes I would consider something like this if I was starting over.

Try looking at Kent
Plenty of two bed houses at around that price. Within 10 miles of the M25.

homelessskilledworker

DpchMd wrote: »

Why would a 30% drop in the value of someone's home force a change in their lifestyle?

You do know how mortgages work, don't you?

I am not saying everyone, I am saying that a 30% fall would effect certain types. probably more of the types here on this MSE board who are ramping property to the best of their abilities.


If a 30% fall will not effect anyone.. GREAT!!

we are all winners:)

ILW

homelessskilledworker wrote: »

I am not saying everyone, I am saying that a 30% fall would effect certain types. probably more of the types here on this MSE board who are ramping property to the best of their abilities.


If a 30% fall will not effect anyone.. GREAT!!

we are all winners:)

This thread seems to have very little ramping. Seems to be more jealousy from people who think they are ENTITLED to own a big house in an upmarket area.

vivatifosi

ILW wrote: »

Try looking at Kent
Plenty of two bed houses at around that price. Within 10 miles of the M25.

Fair point. I'd never have considered Kent when I got my first home as the trains were shockingly bad and I didn't fancy standing all the way, every day. However I understand they've improved considerably since then.

JanCee

homelessskilledworker wrote: »

I am not saying everyone, I am saying that a 30% fall would effect certain types. probably more of the types here on this MSE board who are ramping property to the best of their abilities.


If a 30% fall will not effect anyone.. GREAT!!

we are all winners:)

Why would any sane person who wanted to ramp property choose a sub-forum(hidden unless logged in) with currently 17 people viewing?

Eellogofusciouhipoppokunu

homelessskilledworker wrote: »

Could you withstand a 30% fall in property prices and continue with your present lifestyle?? Actually could any of the property rampers on this board withstand a 30% drop, hope you just take it on the chin without the "whinging" when/if it happens.

A few questions. Is that a further 30% from where we are now or a 30% drop from peak prices? Why would a 30% fall in house prices impact peoples lifestyles? Why would people struggle to withstand a 30% drop?