Fear of a HPC

mwpt

padington wrote: »

What the bankrupt fearing crashist fails to realise is that if you price yourself out of the market from trying to play rent roulette, you may lock your family into debt servitude for generations and there is no sick note home for that fix.

If house prices increased at a stable wage related rate (much like rents do) then there would not be this fear and panic. People could decide when they were ready to buy but remain flexible until then. That would be better for (almost) everyone. Obviously not better for landlords though.

Digsby

If you're young, and you only have a 5% deposit, then perhaps your suggestion might not be a terrible idea.

I don't think it's useful though to say "you HPCers, you've got it all wrong, your strategy is a loosing one" because it depends so much on personal circumstances.

In a situation where house prices rise by another 5% in 12 months time, I personally would be £7k better off in 5 years time by waiting for 12 months before buying compared to buying now.

Edit: Sorry I initially had £22k - looking at the wrong number

padington

mwpt wrote: »

If house prices increased at a stable wage related rate (much like rents do) then there would not be this fear and panic. People could decide when they were ready to buy but remain flexible until then. That would be better for (almost) everyone. Obviously not better for landlords though.

Agreed but they're not and they're probably never going to be.

They're are always two discussions always on this forum ...

1) Understanding how things should be and creating solutions to change the world.
2) Understanding how things are and ways to survive in the given the situation

The former you have very little control of, the later you have almost complete control of.

Care about both but use your resources wisely.