First Time Buyers - Enough is Enough!

meanmachine_2

Woby_Tide wrote:

Instead of a "Thanks" button, can we have one that delivers a virtual kick up the !!!!!!.

How can you say the market is rising in Northern Ireland is rising, then turn round and say the longer term trend is flat or downwards, wheres this information coming from? You're telling dougk to stop panicking FTB's into making decisions they may well regret yet making sweeping generalisations at the other end of the scale as though people should sell to keep any equity they have or be prepared for negative equity and a torrid time if they happen to have just bought somewhere as they needed to. Your best point is that none of us really know where the market is going. Because as I've said twice now, we're pretty much located in every single corner of this country, in completely different markets, in complete different stages of the cycles, with no knowledge of what could be round the corner, yet all still offering unqualified 'advice' on what is a huge decision for people.

Because I take a differing point of view I deserve a "kick up the !!!!!!"? Charming.

And if only "qualified" people are able to give advice, then what is this website for? I took it to be a site designed for punters to pass on their experiences, tips etc - none of which should be applied without considerable thought and application to personal circumstances.

And I agree, predicting the future is impossible. All we have to go on is what's happened in the past. Or is the current property bubble different to everything that's gone before? I personally think not, but if I'm proved wrong, then I'm proved wrong.

I'm a sensible man, with no axe to grind, except - like everyone on this site - I refuse to pay over the odds for my goods and services. How come, when it comes to housing, certain individuals seem to lose all sense of logic and develop a blind spot?

slater14

Woby,

Surely you can see the glaring point you made yourself "If FTB'ers didnt buy in 02 they now cant..etc). Would you care to explain how this works to be a happy stable market?

FTB'ers are the first course of bricks in the wall. Without FTB'ers there is no wall because you cant build it on fresh air.

I have read posts on Chanel 4 property forums, here, BBC forums and many others and they are all saying similair things - slow market, cant sell house, lots gone up for sale but not selling etc etc. If you track back on the forums 24 months (which some do) OH MY WORD! what a different story.

I have been saying since 02 to friends and family that I was concerend that we were "bubbling" again. I stand by this. Have I missed a pot of gold? in all honesty YES. Is it sustainable NO.

BBC Radio 2 (news today) Bankruptcies up 25% due to personal debt (does this include mortage default?). Marconi shedding 800 jobs (and how many others associated with Marconi we dont know, usually its 2 for every 1 plant job). This is on top of Boots, Jarvis and MG Rover.....

I too have no axe to grind, am not a FTB'er, have cashed in on this boom (by selling some property). I dont want the market to crash and it would hurt me not one jot if it were to rise another 300% in the next 5 years. Indeed I would then have more than enough funds to sell the lot and never work again AND buy that Bentley Turbo!

BUT. I dont think its a clever idea to have lots of people being repo'd and in neg equity as this harms the economy which in turn harms me.

WOBY,
Please tell me what you feel is a sensible level to borrow for your mortage in relation to your income? 2 times, 3 times, 4 times, 5 times, 6 times....other?

and as you said in one of your post "scaring FTB'ers who need to buy".....who really needs to buy a house...and why? could explain further.

Pennywise

I've personally found this discussion very interesting and it is certainly helping me to make decisions about buying a house. I can't really imagine that anyone takes "chat rooms" as proper advice - more a matter of getting lots of different opinions to broaden your own limited knowledge.

I certainly think this type of informal discussion is a lot more use than the "experts" who usually have vested interests. In particular, I'm thinking about Phil and Kirsty from Channel 4's "Location..." Last year, they were actively encouraging people to pay far more than they could afford to "get a foot on the property ladder" and often said that property prices "would" rise. I think that sort of thing is far more dangerous as people are more likely to take the word of "property experts" on the TV - I would have liked to see that program more balanced and to include "risk" warnings - i.e. prices can fall as well as rise etc.

dippy

Phil and Kirsty are very over-rated. There was one episode where Kirsty put in a first offer 10% under on a property and was so visibly shocked at having it accepted. Having a first offer accepted probably means she overpaid.

meanmachine_2

I wonder if, in the coming months and years, a lot of those people that PhilnKirsty "helped" onto the ladder will actively thinking about suing them. Mis-selling, misinformation?

Property Ladder is a good show and The Beeny knows her stuff. I think it's the type of series that can only get more interesting as the housing market flounders. Relocation, however, is a shocker. Really terrible.

Two blinkered estate agents "help" two hapless punters spend more money than they can actually afford, and that's entertainment?

Last week, we had a gay couple who ended up paying far more than was in their budget, and they thanked Phil and Kirsty for it?!! What the...?!

deemy2004

Phil & Kirsties new series -

Reposession, Reposession, Reposession.

When they go back to their previous clients to see how their getting on after having their houses reposessed.

nelly_2

deemy2004 wrote:

Phil & Kirsties new series -

Reposession, Reposession, Reposession.

When they go back to their previous clients to see how their getting on after having their houses reposessed.

With the mantality of a lot of people in this country wallowing in other peoples misfortune, coupled with programe makers' love of reality tv Reposession, Reposession, Reposession, is a virtual certainty.

loanranger_4

Relocation, relocation, relocation is a farce. Phil & Kirstie have not managed to deliver on the last two programs that I've seen. Nonetheless is still a very interesting program and very insightful into the state of the market, I wouldn't miss it !

Pal

THe problem is that it is an insight into how the market was 4-5 months ago by two people whose jobs depend on the housing market continuing to climb so that people are interested in their shows.

fitterastra

I want a bentley too lets do it,

Bentleys all round,

protest starts tomorrow,

robby01 great post