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

In_For_A_Penny_2

Crashy_Time wrote: »

:rotfl:
Because nowadays you are only somebody if you are borrowed up to the armpits.

I really don’t think every single one of your posts is funny enough to justify a rolling laughing face or whatever those are. . .

Look. . . I agree houses are expensive and people are over stretched in some cases but the fundamentals of the UK economy (and government interventions to ensure propping up of the market) are such that I just can't see house prices "crashing" any time soon.

Maybe I'm right, maybe I'm wrong – (I lack your foresight to know with certainty what is going to happen the housing market) but I’m not prepared to put my life on hold waiting for a crash.

In_For_A_Penny_2

officeuk wrote: »

Because In For A Penny wants higher HPI so that he can afford to get into serious debt.

I've read that a few times now and it still makes no sense.

lisyloo

Genuine question - why would renting be "putting your life on hold". I've heard that renters get married, have careers and even bring up kids

Bubble_and_Squeak

In_For_A_Penny wrote: »

I really don’t think every single one of your posts is funny enough to justify a rolling laughing face or whatever those are. . .

Look. . . I agree houses are expensive and people are over stretched in some cases but the fundamentals of the UK economy (and government interventions to ensure propping up of the market) are such that I just can't see house prices "crashing" any time soon.

Maybe I'm right, maybe I'm wrong – (I lack your foresight to know with certainty what is going to happen the housing market) but I’m not prepared to put my life on hold waiting for a crash.

good point.
but buying earlier this year would have been madness.
when are you thinking of getting in?

In_For_A_Penny_2

lisyloo wrote: »

Genuine question - why would renting be "putting your life on hold". I've heard that renters get married, have careers and even bring up kids

Indeed. And I've done all of that. . . its just the little things - I want the little one to do up the nursery the way we want, pick the right schools, have the family settled without worrying about a S21 coming through the door. . .

In_For_A_Penny_2

Bubble_and_Squeak wrote: »

good point.
but buying earlier this year would have been madness.
when are you thinking of getting in?

Don't know - its a tricky issue but one that if I try to time the market I will inevitably fail.

In reality, it will be whenever we find a property thats right for us and in which we are not over stretching ourselves and would see ourselves staying in for the medium to long term.

The way I see it, so long as I'm not overstretched and happy where I am, it doesn't matter if prices rise or fall in the short term.

I understand London prices would make you think more carefully about all of this but the same principles about not being overstretched still apply.

When would you consider "buying in"? Do you have a figure in your head for a correction in London prices?

Bubble_and_Squeak

In_For_A_Penny wrote: »

Don't know - its a tricky issue but one that if I try to time the market I will inevitably fail.

In reality, it will be whenever we find a property thats right for us and in which we are not over stretching ourselves and would see ourselves staying in for the medium to long term.

The way I see it, so long as I'm not overstretched and happy where I am, it doesn't matter if prices rise or fall in the short term.

I understand London prices would make you think more carefully about all of this but the same principles about not being overstretched still apply.

When would you consider "buying in"? Do you have a figure in your head for a correction in London prices?

as it stands i'm thinking between december this year and april next. i believe that whoever is in power will do anything ANYTHING they can to prop up prices but between now and the election there is not the time nor the political will to pull a rabbit out the hat. i don't envisage a crash but if current slowdown gathers pace it may be too late to stop it by the time a new government beds in. if it does turn crashy i shall reassess my position.

Thrugelmir

Bubble_and_Squeak wrote: »

as it stands i'm thinking between december this year and april next. i believe that whoever is in power will do anything ANYTHING they can to prop up prices

Market forces will wash away props as if they were matchsticks. The world is now financially interlinked. So a lever pulled on the other side of the world could equally have an influence elsewhere.

Bubble_and_Squeak

Thrugelmir wrote: »

Market forces will wash away props as if they were matchsticks. The world is now financially interlinked. So a lever pulled on the other side of the world could equally have an influence elsewhere.

i thought this when they started funding for lending and help to buy

Crashy_Time

Bubble_and_Squeak wrote: »

i thought this when they started funding for lending and help to buy

Blanchflower etc. on Bloomberg today saying that a break up of the Eurozone has to be taken seriously now, it is make (QE) or break time. I am just concentrating on having multiple years living expenses tucked away, with some invested, and watching it all implode ( I know you can`t take it with you, but no debt and knowing you can survive for quite a while without working is priceless, and you will probably go to the Great Forum in the Sky sooner if you are working all hours to pay a silly big mortgage?) My feeling now is that things could get nasty, politically, socially and economically. Buckle up chaps, things are getting interesting.