First Time Buyers - Enough is Enough!

deemy2004

Spendless wrote:

So why pull out?

To be honest you remind me of a mates husband who pulled out of buying on several occassions the last time when the vendor asked for an extra £1,000 the day they were due to sign. Personally I'd have paid . I'd not have been happy but I'd have paid. He wouldn't and they continued to live in their 2 bed council house which became too small when friend had a baby girl when her son was 14!

First time, - I made a BIG MISTAKE ! I wanted them to drop it a grand, they woudl not so I pulled out... Really made a big mistake

Second time, I had second thoughts about the house, decided that I did not want to live there so that was that.

Hope Mrs Deemy's forgiven you though ;- )

Yes unfortunately there is a price to pay............... :rolleyes:

deemy2004

frugal_dougal wrote:

What goes around comes around. Deemy's kids will end up doing this too!

:eek: :eek: :eek: :eek:

deemy2004

frugal_dougal wrote:

Not according to the Daily Mail last Saturday. It stated that 1970-1974 was the biggest boom in property prices in history at 13% per year. It slowed after that but did not slump.

Errr yes, but what was the rate of inflation........ :rolleyes:

Spendless

deemy2004 wrote:

First time, - I made a BIG MISTAKE ! I wanted them to drop it a grand, they woudl not so I pulled out... Really made a big mistake

An expensive £1,000 just like my mates was!!

deemy2004

Spendless wrote:

An expensive £1,000 just like my mates was!!

I know, Ive been kicking myself since for being far too tight !

Robin_Hood_7

well, i too am a first time buyer with my g/f, we are very lucky because we are living with the parents to save cash to... the life style is proper dyer granted, but the light at the end of the tunnel is there ( we think ) anyway regarding the house prices of this damn age, for some time now a lot of experts have all said about the prices falling but when ? i have cash in different accounts including isa`s but like a few other ppl i wont be waisting it right now... we agree with waiting like thousands of others but what will proberly happen is some jumped up rich guy will come along and buy a whole street load of new houses like normal and put them all up for rent.. causing more problems for this house market, the government will then borrow money , rase taxes etc... and make more for more rich idiots to come along and buy loads more.... there should be a law into buying to rent down to just 1 other property, we can proberly handle waiting another 1-2 years max... but then i will be pulling my hair out from frustration with living with parents....

just hope something good comes out of this elelction !

deemy2004

Unfortunately for something bad will have to come out of this election for it to be good with regards falling house prices.


At the moment house prices are stalling, drifting lower... the triggers required for a sustained change in trend is a series of bad news spanning several months..

I.e. Persistent news of rising inflation, interest rates, taxes, unemployment, and falling exchange rate, growth.

Presently 3 of the above 6 apply, and when rates rise, you can check another one off which will add to the weight on property prices... Now if rates don't rise, inflation slows, and taxes don't rise after the election than that will support house prices

P.S.
The list of variables is just a quick list.. off course many other vars such as oil prices, retail sales, stock market etc.

meanmachine_2

deemy2004 wrote:

Unfortunately for something bad will have to come out of this election for it to be good with regards falling house prices.


At the moment house prices are stalling, drifting lower... the triggers required for a sustained change in trend is a series of bad news spanning several months..

I.e. Persistent news of rising inflation, interest rates, taxes, unemployment, and falling exchange rate, growth.

Presently 3 of the above 6 apply, and when rates rise, you can check another one off which will add to the weight on property prices... Now if rates don't rise, inflation slows, and taxes don't rise after the election than that will support house prices

P.S.
The list of variables is just a quick list.. off course many other vars such as oil prices, retail sales, stock market etc.

Yeah I'd agree with all this, but also add that the housing market is driven 50% by actual real world factors, like those you've outlined, and 50% emotional factors. Now, finally, sellers are having to realise that their property isn't automatically going to go up by £5K a month and are starting to get their heads round the idea that, if they don't sell now, they might start losing £5K.

Just as there has been a stampede, driven by panic, into the market in recent years, so there might well be a stampede out again.

I'm a prospective FTB. Six months ago I was getting very anxious about property. thinking I'd never get on the ladder. Now I'm very relaxed, and am happy to wait and wait and wait, knowing that, in real terms, even if prices stay the same, they're actually falling by 3-4%.

A lot of FTBs I know are now thinking the same.

Oh, and just in case anyone doesn't recall the last property crash, it started just like this.

Of course, I could be wrong and the idea of a "soft landing" might pan out. But it'll be a first for the market if it does.

zag2me

Im up for a fight!!! First time buyer here too getting more and more frustrated about getting on the ladder. I cant take much more of living with my parents.

Where do I sign up? March to downing street demanding more affordable homes getting built?

deemy2004

I'll get a couple of costumes done. say bat man and robbin.. ?


First Time Buyers for Justice................. :j


Meet you outside West Minister tommorrow 5pm !!

So we can be on the 6pm news..........