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

mystic_trev

Crashy_Time wrote: »

[/B]


Plenty of time yet.

That's what your lot said over on HPC 10 years ago :rotfl:

I see they've all come out the closet over there, as soon as they see an article about softening prices. Not really surprising seeing the rises of the last year.

http://www.housepricecrash.co.uk/forum/index.php?showtopic=199967

I see the Masked Turnips also come out of the closet. I wonder if (with reflection) wether selling his Mums house in Swansea, when she died 10 years ago, was really such good idea? I'd really like to post over there, but of course you're banned as soon as you say anything positive about House Prices! The last time I got banned was for asking Bruce Banner where he lived in the SE. Apparently the only "corner of the SE where prices continue to plummet" :rotfl:

lisyloo

renting is far from suitable the older you get

Could you please explain that for my benefit?
Do you mean unsuitable in the long term financial sense or are there other aspects you are getting at?

I'm 46 and own my own home.
Unfortunately I have to work in London and I'm looking at renting (can't get a mortgage right now due to new business). There are reasons why we don't want to move (about half a million for like-for-like property).

Would love to know what aspects you are referring to.

ruggedtoast

lisyloo wrote: »

Could you please explain that for my benefit?
Do you mean unsuitable in the long term financial sense or are there other aspects you are getting at?

I'm 46 and own my own home.
Unfortunately I have to work in London and I'm looking at renting (can't get a mortgage right now due to new business). There are reasons why we don't want to move (about half a million for like-for-like property).

Would love to know what aspects you are referring to.

Er, all of it.

Why dont you have a look over at the house buying selling and renting board?

It might be more tolerable if you know you own your own home elsewhere. Its rubbish having to tug your forelock to some cretin in a fat tie, who tuts at 6 monthly inspections.

Crashy_Time

"House prices in London slow to a halt as 'silly season' ends "


From the London Evening Standard.

Crashy_Time

ruggedtoast wrote: »

For most people, no there isn't. You are young for a very short amount of time, renting is far from suitable the older you get and a lot of the HPCers have been waiting for a decade or more already.

Are you one of them? There has been an imminent house price crash predicted every few months for ten years, even during the actual crash, prices barely dropped unless you were really eagle eyed.

Between the end of 2008 and the end of 2009 we went from being able to afford a house we didnt want in an area we wanted to live in, to being priced out of pretty much everywhere.

Thank god my job took me out of London or I would by now still be renting and paying most of my net pay out in rent.

Lets be candid; The HPC website has been going for more than a decade, everything they said about subprime, Ponzi economics, Liar Loans etc. came to pass? Yes, anyone calling CRASH in `04 was way out (and the massive intervention from the government wasn`t fully predicted either) but the real problems only started to manifest in `08, six years ago, not really that long a time frame. Are you betting that house prices can stay high for another six years?

ruggedtoast

Crashy_Time wrote: »

Lets be candid; The HPC website has been going for more than a decade, everything they said about subprime, Ponzi economics, Liar Loans etc. came to pass? Yes, anyone calling CRASH in `04 was way out (and the massive intervention from the government wasn`t fully predicted either) but the real problems only started to manifest in `08, six years ago, not really that long a time frame. Are you betting that house prices can stay high for another six years?

I am betting that if you think you can game the market by renting until such time as some putative house price crash occurs you will end up out of pocket at best.

If you have somewhere to live that doesnt cost much you may break even, or even end up a bit ahead.

FYI the HPC website has predicted everything from raining frogs to Gordon Brown being outed as head of the Illuminati. Some of it happened and some of it didnt. The people who actually made money out of their predictions on there are long gone.

How is that mortgage reset timebomb going? The one that was guaranteed to wipe out the western banking system?

Crashy_Time

ruggedtoast wrote: »

I am betting that if you think you can game the market by renting until such time as some putative house price crash occurs you will end up out of pocket at best.

If you have somewhere to live that doesnt cost much you may break even, or even end up a bit ahead.

FYI the HPC website has predicted everything from raining frogs to Gordon Brown being outed as head of the Illuminati. Some of it happened and some of it didnt. The people who actually made money out of their predictions on there are long gone.

How is that mortgage reset timebomb going? The one that was guaranteed to wipe out the western banking system?

I may never buy property again, either way I am pretty sure I will end up financially ahead of someone who went I.O at the peak. As I am not a mortgage debtor I don`t really care how the mortgage reset timebomb is going, but if you want to believe that the western banking system is solvent, well good luck to you.
You have to admit though that when the London Evening Standard is flying HPC headlines there is something up and it can`t end well?

Percy1983

I do believe anybody waiting for a crash will be waiting a while, the crash has been and gone.

I will stick with just buy when you can, I was lucky as the time I could buy fell at the same time as the crash, it wasn't planned and was just lucky.

As it is prices locally have remained more or less static since I bought, to which we could be 2 and a bit years into a mortgage (as we are) or be approx £12600 down with nothing to show for it but a grinning landlord.

I find it very hard to believe waiting for a crash can benefit you unless you are priced out and its your only hope.

ess0two

Crashy_Time wrote: »

I may never buy property again, either way I am pretty sure I will end up financially ahead of someone who went I.O at the peak. As I am not a mortgage debtor I don`t really care how the mortgage reset timebomb is going, but if you want to believe that the western banking system is solvent, well good luck to you.
You have to admit though that when the London Evening Standard is flying HPC headlines there is something up and it can`t end well?

Gold is the best option

Crashy_Time

Percy1983 wrote: »

I do believe anybody waiting for a crash will be waiting a while, the crash has been and gone.

I will stick with just buy when you can, I was lucky as the time I could buy fell at the same time as the crash, it wasn't planned and was just lucky.

As it is prices locally have remained more or less static since I bought, to which we could be 2 and a bit years into a mortgage (as we are) or be approx £12600 down with nothing to show for it but a grinning landlord.

I find it very hard to believe waiting for a crash can benefit you unless you are priced out and its your only hope.

Do you know how much principle you have paid off your mortgage, and how much your monthly payments will be when interest rates go up?