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

wotsthat

leveller2911 wrote: »

Brits only mistake was that he/she didn't predict the Government would prop up the housing bubble with scheme such as HTB etc.......

I don't think anyone on here predicted the Government intervention but feel free to post a link to a previous post of yous where you predicted it..

People who just buy when they want (and are able) don't need to worry about their skills at predicting house price directions and/ or the actions of government.

They just buy and, in the main, live happily ever after.

Loughton_Monkey

brit1234 wrote: »

It wasn't that I didn't want to buy......

This can't be true. You advertised that you were on buying strike. When did you come off your strike?

chucknorris

brit1234 wrote: »

Like what? I thought I was a man, looking in my underpants confirms it.

Can you confirm that there has been no police tampering with the evidence?

HAMISH_MCTAVISH

brit1234 wrote: »

My Update

As said before living in London I was priced out of the market. Credit Crunch came and I could afford to buy but waited for a better deal as they were removing all the dodgy stuff which caused that bubble like gift deposits, 100-125% mortgages, self cert/liar loans, BMV.

I didn't expect 0.5% interest rates, QE which came in to prop prices back up again Then all the stimulus poured in with shared equity and its variations which stopped me buying a flat as they raised the value to put it on that scheme. Then Foreign investors poured in, old people not getting interest pored their savings into property with Help to Buy and funding for Lending finishing any chance I had of buying.

I presently have a large deposit and watching for when I can afford to buy as prices fall. I haven't saved as much in my deposit recently as saving accounts have dried up, pay freezes and day to day costs rise.

It wasn't that I didn't want to buy but I was priced out and the only one I did go to buy was put up in value because of the shared equity scheme was brought in.

Hoping these London prices continue to fall and hoping there is no more stimulus to keep them high.

Saved for posterity.....

neas

Thanks for the update, Your strike until 50% hpc was certianly controversial. I watched house prices for a couple of years while I too saved up, but my point back 5 years ago was that short term (3-4 years) putting off buying if house prices are falling may be a good idea but generally as you get to 10 years it would be less wise because eventually the capital repayment on your mortgage increases. For example each month I pay off £250 more off my mortgage than I was paying when renting. Even if houses crashed 5-10% i'd have been in the same sort of positon.

In this 8 years I've bought two houses (sold the first and relocated), It now seems another house price crash might be a few years away. Certainly low interest rates look here for at least another year or so.

I guess its the old chestnust of how long is too long to wait?

Generali

brit1234 wrote: »

Like what? I thought I was a man, looking in my underpants confirms it.

My apologies. I could have sworn you said you were a woman.

westernpromise

brit1234 wrote: »

My Update

I could afford to buy but waited for a better deal

So you speculated against London property and were exactly wrong.

westernpromise

neas wrote: »

Certainly low interest rates look here for at least another year or so.

Try ten to fifteen years.

ging84

a rare moment of clarity on the internet
now all we need is for Hamish to confess his real story

HAMISH_MCTAVISH

ging84 wrote: »

a rare moment of clarity on the internet
now all we need is for Hamish to confess his real story

Awwww, bless.

What do you want to know?

I've made my position clear.

I could have chosen to rent in 2007 instead of buy again, but I bought, and am now up well over £100,000 as a result versus the rental option.

So much of a no-brainer that even a crashtroll can't argue the point surely?