'We've reached a tipping point' Signs of house price weakness

Jack_Johnson_the_acorn

Crashy_Time wrote: »

You "bought" at the wrong time Acorn, and there is every chance you paid too much for your house. How`s that for a fact and a reasoned argument :rotfl:

Care to elaborate? you've posted the same thing several times now, I replied 4days ago on another thread......... STILL WAITING:D

Originally Posted by Jack Johnson the acorn 18-08-2014, 10:10 PM

Why? please explain for me......

I'm making overpayments of twice my mortgage amount + my house has increased 10% in value, I bought (luckily) when prices where at there lowest and prices are still pretty sensible. I'll be mortgage free in 10 yrs (hopefully in 8 if I'm lucky)

I can't wait for your response

Jack_Johnson_the_acorn

Blooloo wrote: »

Im pretty sure this is the poster Valerius on HPC who was banned for such statements, ad hom and just being incapable of understanding anything to do with arithmetic.

Claimed once that a reduction in the inflation rate ( still positive) meant a reduction in price.

I've never posted on HPC, seeing all the loons agreeing with each other on every thread is quite frightening :eek:

I might make a profile though, see how long I last arguing against a crash.

Crashy_Time

Jack_Johnson_the_acorn wrote: »

Care to elaborate? you've posted the same thing several times now, I replied 4days ago on another thread......... STILL WAITING:D

Originally Posted by Jack Johnson the acorn 18-08-2014, 10:10 PM

Why? please explain for me......

I'm making overpayments of twice my mortgage amount + my house has increased 10% in value, I bought (luckily) when prices where at there lowest and prices are still pretty sensible. I'll be mortgage free in 10 yrs (hopefully in 8 if I'm lucky)

I can't wait for your response

So prices were at their lowest in 2011 and are still pretty sensible? Your house has increased by 10%? :rotfl:


It`s when your house decreases by 40% that you will need to worry. Even if you bought for cash you will have overpaid if you bought in 2011.

Crashy_Time

Jack_Johnson_the_acorn wrote: »

I've never posted on HPC, seeing all the loons agreeing with each other on every thread is quite frightening :eek:

I might make a profile though, see how long I last arguing against a crash.

I know, why not be a big Scottish guy called Hamish :rotfl:


"Seeing all the loons agreeing with each other on every thread" :rotfl:


Oh the irony. What kind of acid are you taking Acorn?

Jack_Johnson_the_acorn

Crashy_Time wrote: »

So prices were at their lowest in 2011 and are still pretty sensible? Your house has increased by 10%? :rotfl:


It`s when your house decreases by 40% that you will need to worry. Even if you bought for cash you will have overpaid if you bought in 2011.

When's this 40% drop coming???? you've been waiting, what, 16YEARS!!!

"When" prices drop, how will this affect me? bare in mind this is my "forever" home and to rent would cost at least 20% more than the mortgage..
(Rent = £100 extra per month)

Awaiting your reply crashy :rotfl:

Crashy_Time

Jack_Johnson_the_acorn wrote: »

When's this 40% drop coming???? you've been waiting, what, 16YEARS!!!

"When" prices drop, how will this affect me? bare in mind this is my "forever" home and to rent would cost at least 20% more than the mortgage..
(Rent = £100 extra per month)

Awaiting your reply crashy :rotfl:

Interest rates can do a lot in ten years, as can sentiment (try ten months for that) There wasn`t a housing bubble sixteen years ago, so no one has been waiting that long for a correction.

Jack_Johnson_the_acorn

Crashy_Time wrote: »

Interest rates can do a lot in ten years, as can sentiment (try ten months for that) There wasn`t a housing bubble sixteen years ago, so no one has been waiting that long for a correction.

I know, hence the overpayments , I'm on a fix for 2 years though, and my mortgage balance will only be £86k at the end of the fix, I can afford for interest rates to increase to 15% before I would have to alter my lifestyle.....

So tell me again, how am I affected by this great crash that you have foretold....

Crashy_Time

Jack_Johnson_the_acorn wrote: »

I know, hence the overpayments , I'm on a fix for 2 years though, and my mortgage balance will only be £86k at the end of the fix, I can afford for interest rates to increase to 15% before I would have to alter my lifestyle.....

So tell me again, how am I affected by this great crash that you have foretold....

Why not tell us after the crash?

Jack_Johnson_the_acorn

Crashy_Time wrote: »

Why not tell us after the crash?

RRRRRR, so as it turns out, I'm in no peril at all:kisses3:, but if I had of rented the property for the last 2&1/2years I would of spent over £20k to own 100% of nothing..... now I own 20% £28k of £140k (+ my deposit of £13k) even though I'm paying less for the mortgage than I would be in rent!!!! :eek:

Looking forward to your reply, I imagine it will be crammed with buzzwords

Percy1983

Crashy_Time wrote: »

So prices were at their lowest in 2011 and are still pretty sensible? Your house has increased by 10%? :rotfl:


It`s when your house decreases by 40% that you will need to worry. Even if you bought for cash you will have overpaid if you bought in 2011.

I still can't see 'over paying' as a huge problem.

I agree I would rather not overpay and I appear to have bought at the bottom of the recent crash.

But if I compare the next 22.5 years of mortgage payments to a lifetime of rent I would still be quids in even if my house did reduce by 40% in value.

The end of the day whatever the value of my house is at the end of the mortgage I am then free to live in it rent free until I die, renting would never give me that.