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

saguk1234

You fossils jump up and down loving HPI but spare a thought for us youngsters who are now stuck between a rock and a hard place. Rent forever or be a slave to huge debt.

ukcarper

Crashy_Time wrote: »

That is your second mistaken assumption. My rent has increased by the mind boggling, bank busting, inflation beating figure of 50 quid, yes 50 pounds, per month in 17 years. The value of your house is more likely to drop now than at any time in the last 20 years, and if interest rates rise your mortgage payments will go up.

Yes but most people don't live in LaLa land.

Percy1983

saguk1234 wrote: »

This is silly mindset that most people are in. Why??

Sorry to say but houses do only go up over the long term, yes it may also drop at points but the long term trend is up and always will be (even if its only at the same pace as inflation).

Crashy_Time wrote: »

That is your first mistake.

So why would it be a mistake to assume 25 years at £480? I admit it may edge upwards but right now I am not on the best of rates so actually expect it to drop for a good duration.

PS, I have done the sums and can withstand interest rates of 25%, of course that would swing the sums, but hey I could apply a reasonable rate of inflation to the rent figures if you like?

HAMISH_MCTAVISH

ukcarper wrote: »

No that's just the money he has saved on rent you people really are blind to the facts.

It's a coping mechanism.

The 'cult of crash' allows them to continue believing the delusion that got them into such a financial mess in the first place.

By continuing to believe, they never have to face up to their own mistakes, thereby avoiding the devastating realisation that they have irrevocably screwed up their financial future.

It's not ideal..... But on a positive note it probably keeps the trains running on schedule more often, and saves the drivers a lot of traumatic experiences. :cool:

Crashy_Time

HAMISH_MCTAVISH wrote: »

And looking at those flats, the median rent appears to be around £550 a month.

But even on your claimed rent of £450, you'd have paid significantly less on a full repayment mortgage since then than you would to rent.... The capital gains, or lack thereof, are irrelevant.

Well I live just round the corner and pay £400 a month, but as in all things property Hamish surely knows best? Oh, and the capital gains are now irrelevant?...this thread just gets funnier and funnier...tell that one to the idiots trying to sell it. So glad you were not giving me financial advice in 2004 Hamish.

ukcarper

saguk1234 wrote: »

You fossils jump up and down loving HPI but spare a thought for us youngsters who are now stuck between a rock and a hard place. Rent forever or be a slave to huge debt.

That's where you are wrong you assume than just because we can see the advantages of buying we want hpi I have every sympathy with youngsters who can't buy none for people who didn't buy who could have bought when prices were the lowest they have been since the 40s

Percy1983

saguk1234 wrote: »

You fossils jump up and down loving HPI but spare a thought for us youngsters who are now stuck between a rock and a hard place. Rent forever or be a slave to huge debt.

I don't want HPI as much as you don't.

HAMISH_MCTAVISH

ukcarper wrote: »

Having never been on HPC web site I can't believe how blinkered these people are.

Oh it's a real eye opener.

But this is how they are. This is how they think.

The aggression, blinkered ignorance, and hostility are just a way of mental compensation for their own failures.

padington

We should set up a ''crashoholics anonymous' group and pay for the tea and biscuits really, it's an addiction like all the others.

ukcarper

Percy1983 wrote: »

I don't want HPI as much as you don't.

That's the trouble Percy they think that all homeowners crave rampant HPI I would have been quite happy if my house had just kept up with wages and if it had it might be worth £50 or £60k less but that wouldn't negate all the rent I have save and am saving now.