Over on hpc.co.uk they are weakening, they are buying!

ruggedtoast

http://www.housepricecrash.co.uk/forum/index.php?showtopic=184005

Precis

STR in 2007 - been renting for last 5 years
Market (South Manchester/Cheshire border) hasn't reacted anywhere near what I thought. It's gone up in my price range - to 250k
Wife pecking my head big style about why I won't pay + 2007 prices. Now getting irate with my constant HPC mentality
Parents (I'm 36) pecking my head about my HPC Mentality
Have a kid starting school next September and want to buy a house.
Feel I've been waiting far too long but think we really are in la la land as per house prices - but I've been constantly wrong for 5 years, so maybe it's time I actually accepted that this government will do anything and everything to keep this charade going.

Just me?

How are others dealing with this head pecking? I don't mind renting, but you're kidding yourself if you think it's better than having a house you can do as you like with, unless you move around a lot, then renting works.

I feel I've been kidding myself for the last 5 years and my HPC mantra doesn't wash with anyone these days.

Will there ever be an HPC? Who knows.

Graham_Devon

It's hard to say now. We've never been in such teritory before.

I heard on the radio a few days ago that government are looking at simply taking over any mortgage thats in difficulty and offering no interest loans. Alongside that, theres a proposal that the retired would be able to get money given to them, from the government, in exchange for a fixed sum of equity which would be taken on death. Fixed, not increasing.

Now, I don't know if these were government thoughts, or someone else stating the government shold do it. But these sorts of things wouldn't surprise me. It would simply stop any property being sold which is in difficulty. It would allow any overstretched pensioner, or anyone approaching retirement from having to re-think and evaluate their income.

It was to do with the pensioners crisis and people having loads of equity they are unable to access.

I'd have laughed off these ideas before now, but in all honestly, theres a real chance these things could go through.

If things after 2007 had actually panned out how they had in previous times, there certainly would have been a crash. But with interest rates as low as they are, and so many other interventions into the market to stop people losing their homes, even at such interest rates, there may never be a HPC.

Dunno what's going to happen for the future though, as the wage vs house price thing simply doesn't stack up, as seen with the housing benefits numbers having 10k families added every single month that passes.

Have heard of a 10% shared equity solution, whereby staircasing would be made easier, but it was worked out that the house, after a period fo 25 years, if bought in full, would cost 7x it's initial value. It makes the payments easier, but tht total cost would be horrendous.

moneyinmypocket

They are weakening they are weakening

The British spirit has won and the nay Sayers have come home to roost

thescouselander

You know what happens when the last bear turns bull.......

ruggedtoast

Graham_Devon wrote: »

It's hard to say now. We've never been in such teritory before.

I heard on the radio a few days ago that government are looking at simply taking over any mortgage thats in difficulty and offering no interest loans. Alongside that, theres a proposal that the retired would be able to get money given to them, from the government, in exchange for a fixed sum of equity which would be taken on death. Fixed, not increasing.

Now, I don't know if these were government thoughts, or someone else stating the government shold do it. But these sorts of things wouldn't surprise me. It would simply stop any property being sold which is in difficulty. It would allow any overstretched pensioner, or anyone approaching retirement from having to re-think and evaluate their income.

It was to do with the pensioners crisis and people having loads of equity they are unable to access.

I'd have laughed off these ideas before now, but in all honestly, theres a real chance these things could go through.

If things after 2007 had actually panned out how they had in previous times, there certainly would have been a crash. But with interest rates as low as they are, and so many other interventions into the market to stop people losing their homes, even at such interest rates, there may never be a HPC.

Dunno what's going to happen for the future though, as the wage vs house price thing simply doesn't stack up, as seen with the housing benefits numbers having 10k families added every single month that passes.

Have heard of a 10% shared equity solution, whereby staircasing would be made easier, but it was worked out that the house, after a period fo 25 years, if bought in full, would cost 7x it's initial value. It makes the payments easier, but tht total cost would be horrendous.

Why don't you have a day off from it Graham and just celebrate being on the winning team?

Loughton_Monkey

ruggedtoast wrote: »

Will there ever be an HPC? Who knows.

As the pantomime season approaches, I can answer that one!

Oh no there won't.

ruggedtoast

The members of hpc.co.uk crave house price crash the way a man in the sea with a lobster clamped onto his knackers craves something to remove lobsters.

They claim to have hundreds of thousands, yet they do not buy.

I feel great sympathy for those who are priced out, not those who just think they are.

wotsthat

The chap in the link from the OP has a £200k deposit.

There must be something about people who believe that a crash is on the way - they all seem to have big deposits that are nice round numbers.

HPC is like millionaires re-united - they're all wadded!

hildosaver

There has been a HPC where I live ( northern Ireland) so if you don't mind ill not be celebrating just yet, instead I have to live with my 20k negative equity which is getting bigger each month.

Sibley

The members of hpc.co.uk crave house price crash the way a man in the sea with a lobster clamped onto his knackers craves something to remove lobsters.

They claim to have hundreds of thousands, yet they do not buy.

I feel great sympathy for those who are priced out, not those who just think they are.

Quite right.

Thing is though. If you really are priced out and a low earner, you just need to go the coucil house route if you need security.

The remaining members of HPC are all people with no means to buy.
Any of their members that really did STR got back on the ladder when the penny dropped prices were not going to crash.

There was nothing wrong with starting a website and hoping for a crash. What I never liked was the way they wished bad on normal people/homeowners.

OK, we may have been lucky when we were born or when we bought but we never did any harm to them.

Doesn't matter now. The crises has passed.

House prices will never drop.

chucknorris

wotsthat wrote: »

The chap in the link from the OP has a £200k deposit.

There must be something about people who believe that a crash is on the way - they all seem to have big deposits that are nice round numbers.

HPC is like millionaires re-united - they're all wadded!

It is also hard for them to get a decent return on their savings, especially if they want access in case they do decide to buy. When I look at what low returns I am receiving I keep trying to think of somewhere else to save/invest cash. I may resort to putting more into the ftse, at least it is only liable for CGT at 28% and then only over the £10,600 allowance.

Not to mention the hassle of having money scattered over numerous fixed rate savings bonds.