Is brit still around here or has the 8+ years he has been waiting forced him away?

neas

He was always hanging out for 50% drops... from 2007, its now 2015 8 years later. The longer he waited the more time he could've payed off his mortgage at an insanely cheap level.

In the end the call to wait for lower house prices from 2007 was wrong, and the time to buy was 2009-2011, in my area they have started rising 10% per year. I'm not cheering on house price inflation at all because it will limit my children getting on the ladder but staying in rent for 8 years if you could've bought is a pretty silly idea in hindsight.

Generali

neas wrote: »

He was always hanging out for 50% drops... from 2007, its now 2015 8 years later. The longer he waited the more time he could've payed off his mortgage at an insanely cheap level.

In the end the call to wait for lower house prices from 2007 was wrong, and the time to buy was 2009-2011, in my area they have started rising 10% per year. I'm not cheering on house price inflation at all because it will limit my children getting on the ladder but staying in rent for 8 years if you could've bought is a pretty silly idea in hindsight.

I wouldn't gloat too much if I were you as you made 4 elementary errors in your post.

ging84

Have you considered that perhaps for him and many other's like him, it was not purely a life style choice to be a renter, and despite what they might have claimed about their financial situation, the reality was, they could not realistically have either got the deposit together, or secured the mortgage.
And that despite what he might say, doesn't look back with regret, but with despair, because he like million of renters took the only option that was available to him.

Carl31

ging84 wrote: »

Have you considered that perhaps for him and many other's like him, it was not purely a life style choice to be a renter, and despite what they might have claimed about their financial situation, the reality was, they could not realistically have either got the deposit together, or secured the mortgage.
And that despite what he might say, doesn't look back with regret, but with despair, because he like million of renters took the only option that was available to him.

Good point

also the fact that from 2007, the housing market has behaved very differently than it has historically. No one could have predicted 0.5% IR, or the HI that we saw the past couple of years. If anything, based on historic data, falls would probably have been certain, but they were prevented with intervention not seen before

Generali

ging84 wrote: »

Have you considered that perhaps for him and many other's like him, it was not purely a life style choice to be a renter, and despite what they might have claimed about their financial situation, the reality was, they could not realistically have either got the deposit together, or secured the mortgage.
And that despite what he might say, doesn't look back with regret, but with despair, because he like million of renters took the only option that was available to him.

Another four errors in this post.

Generali

Carl31 wrote: »

Good point

also the fact that from 2007, the housing market has behaved very differently than it has historically. No one could have predicted 0.5% IR, or the HI that we saw the past couple of years. If anything, based on historic data, falls would probably have been certain, but they were prevented with intervention not seen before

No errors in this one.

ging84

Generali wrote: »

Another four errors in this post.

Is the point Brit is female ?
because that would make it 5 errors i think

Generali

ging84 wrote: »

Is the point Brit is female ?
because that would make it 5 errors i think

It is, as she has made clear many times, and that makes one factual error in my post!

Interesting that people assume brit is a man despite plenty of evidence to the contrary.

ging84

Generali wrote: »

It is, as she has made clear many times, and that makes one factual error in my post!

Interesting that people assume brit is a man despite plenty of evidence to the contrary.

Just seems more like a man's name
and her logo seems like a man's logo
and relentlessly pursuing a dead cause, seems much more like a man thing to do.
But then maybe never letting an argument go, and continuing to bring it up out of the blue after days / weeks / months now seems more of a woman thing

Fraise

neas wrote: »

He was always hanging out for 50% drops... from 2007, its now 2015 8 years later. The longer he waited the more time he could've payed off his mortgage at an insanely cheap level.

In the end the call to wait for lower house prices from 2007 was wrong, and the time to buy was 2009-2011, in my area they have started rising 10% per year. I'm not cheering on house price inflation at all because it will limit my children getting on the ladder but staying in rent for 8 years if you could've bought is a pretty silly idea in hindsight.

They waited a while eight years for prices to drop?! That's complete madness.

mayonnaise

Whether he/she/it was genuinely priced out is a moot point.
He/she/it often stated his/her/its deposit was in place and he/she/it was just waiting for a phenomenal crash, rubbing his/her/its hands with glee at the prospect of snapping up a house for a song from a hardworking family in crippling negative equity.
He/she/it then continued onto the housing board, dissuading potential buyers from taking their first step on the housing ladder.
I sincerely hope nobody ever acted on his/her/its 'advice'.

brit is getting his/her/its just deserts.