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

Pete9501

Crashy_Time wrote: »

Sounds more like a wish. Deflation is already happening.

So what do you suggest all those of us who own houses with mortgages do?

Crashy_Time

Pete9501 wrote: »

So what do you suggest all those of us who own houses with mortgages do?

Start panicking.

ukcarper

Crashy_Time wrote: »

Nice. When did you cash in your house?

Point 1 if the bank owned it why would the bank let me have it for less than 1/6th of what they get on the open market.

Point 2 I'm very happy living there saving £1400 a month in rent, already been living there rent free for 5 years so that's already £84k saved, better than paying £450 for a room don't you think.

Pete9501

Crashy_Time wrote: »

Start panicking.

Yes but then what? sell and do what? rent a roof over my families head?

HAMISH_MCTAVISH

Pete9501 wrote: »

Yes but then what? sell and do what? rent a roof over my families head?

At more than the cost of a mortgage....

If I'd followed Crashy Times advice at what he thought would be the last peak, I'd be well over £100K worse off right now.

Pete9501

HAMISH_MCTAVISH wrote: »

At more than the cost of a mortgage....

If I'd followed Crashy Times advice at what he thought would be the last peak, I'd be well over £100K worse off right now.

You mean one of the price crash experts is actually wrong :eek: but there are some many of them, how could they all make the same mistake?

So if I do sell and rent someone has to buy my house. Firstly I might loose if I sell for less than I paid, secondly the rent if just lost and what happens when I can't work anymore? What of the individual or company that buys my house, they carry on making money long after I am in the poor house or social housing.

Isn't this just a transfer of assets from those who do believe in property long term with BTLs from those who believe in HPCs?

Bubble_and_Squeak

ukcarper wrote: »

To be quite honest I don't care what happens to prices especially in London as I don't live there and have no intention of moving there. I hope if you do buy next year you don't have to pay more than you would have in April.

thanks, carper
even if i do pay more at least it will more likely be a house that i want rather than any old rubbish to get on the "ladder"

Bubble_and_Squeak

this has descended into a danny debate
who cares who legally owns the property?
the bottom line is if you don't service the debt you will more likely than not lose the property

Bubble_and_Squeak

hamish_mctavish wrote: »

at more than the cost of a mortgage....

If i'd followed crashy times advice at what he thought would be the last peak, i'd be well over £100k worse off right now.

yay!
Hamish is back!

System

Why do you remove capital letters from your quotes?