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Debate House Prices


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A cry of anguish

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Comments

  • Brallaqueen
    Brallaqueen Posts: 1,355 Forumite
    edited 27 August 2012 at 5:49PM
    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.

    That's a lovely property viva! Good find.

    Less lovely, but cheaper

    http://www.rightmove.co.uk/property-for-sale/property-38486954.html

    The 50k difference would cover about 8 years commute from Welly.

    If I had the money, I'd have seriously considered this one (sold price 102k). Knock down a wall or two and you'd have three solid double bedrooms

    http://www.zoopla.co.uk/property-history/17-clee-rise/northampton/nn5-6dz/16538511
    Emergency savings: 4600
    0% Credit card: 1965.00
  • DpchMd
    DpchMd Posts: 540 Forumite
    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:)

    You seem to be mistaking the one idiot on this forum who creates several accounts, seemingly on a weekly basis, as being representative of reality.

    I find it hard to believe that anyone comes here to "ramp" property prices. I find it easier to believe that the emotive subject of housing has caused some special-case to spend his life creating new accounts in order to back up his opinion.

    I, for one, wouldn't bat an eye-lid if the value of my home decreased by 30%, and I don't suppose the wider population would care too much, either. Sure, you'll get the horror stories of people stuck in negative equity desperate to move because their Great-Aunt's Nephew is dying, but what's new?

    I honestly believe that if you want something, and I mean really really want something, this country gives you everything you need to achieve it and more. It's the entitlement around home-ownership which is baffling.
    "Beware of little expenses. A small leak will sink a great ship." - Benjamin Franklin
  • ILW
    ILW Posts: 18,333 Forumite
    Much of the angst seem to come from no more than some people want to buy a house and suspect that someone may have got a slightly better deal than they are likely to. Sad really.
  • ruggedtoast
    ruggedtoast Posts: 9,819 Forumite
    ILW wrote: »
    Much of the angst seem to come from no more than some people want to buy a house and suspect that someone may have got a slightly better deal than they are likely to. Sad really.

    Slightly better deal?

    You boomers really have no appreciation how much more expensive getting on the ladder is these days do you?
  • ash28
    ash28 Posts: 1,789 Forumite
    Mortgage-free Glee! Debt-free and Proud!
    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.

    A 30% fall in property prices actually wouldn't change our current lifestyle - why would it? We, along with about 45%of the people who live in owner occupied housing have no mortgage.

    And for those who had a reasonable amount of equity - they might lose on the house they currently live in but their next step up could suddenly become affordable.

    Our house in the early 90s lost around 36% of it's "value" (in the south east) during the last big crash - we were left with our original deposit.

    We lived in a small 3 bed and couldn't afford the next step up - the property crash meant all of sudden that nice 4/5 bed family house we had always wanted, was in our reach. And we bought it.
  • chewmylegoff
    chewmylegoff Posts: 11,469 Forumite
    Part of the Furniture 10,000 Posts Combo Breaker
    JanCee wrote: »
    Why would any sane person who wanted to ramp property choose a sub-forum(hidden unless logged in) with currently 17 people viewing?

    who said anything about sanity?!
  • Brallaqueen
    Brallaqueen Posts: 1,355 Forumite
    We're all mad here...
    Emergency savings: 4600
    0% Credit card: 1965.00
  • ILW
    ILW Posts: 18,333 Forumite
    Slightly better deal?

    You boomers really have no appreciation how much more expensive getting on the ladder is these days do you?
    Compared to when?
  • olly300
    olly300 Posts: 14,738 Forumite
    Part of the Furniture 10,000 Posts Combo Breaker
    ash28 wrote: »
    A 30% fall in property prices actually wouldn't change our current lifestyle - why would it? We, along with about 45%of the people who live in owner occupied housing have no mortgage.

    And for those who had a reasonable amount of equity - they might lose on the house they currently live in but their next step up could suddenly become affordable.
    Not necessarily.

    A lot depends on the banks lending.

    If the banks start doing 100%+ mortgages to those with negative equity then the property market will move.

    One of my brothers' was able to move because of the banks doing this. Though the real reason he was able to move is because his wife actually had gained money from her property. (Remember people have selling costs, buying costs and moving costs which aren't covered.)

    Other people I know couldn't move until property prices went up again. Some due to the hike in interest rates had to work 2 jobs to keep up with their mortgage payments.
    I'm not cynical I'm realistic :p

    (If a link I give opens pop ups I won't know I don't use windows)
  • olly300
    olly300 Posts: 14,738 Forumite
    Part of the Furniture 10,000 Posts Combo Breaker
    ILW wrote: »
    Compared to when?
    The late 80's, the early 70s, after the war....
    I'm not cynical I'm realistic :p

    (If a link I give opens pop ups I won't know I don't use windows)
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