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I wonder what the house in this post is worth now

http://forums.moneysavingexpert.com/showpost.php?p=64413610&postcount=20

Jack_Johnson_the_acorn

Joeskeppi wrote: »

I don't think person understands common financial phrases such as "real term" and "short".

Agreed. He has stated many times that it his belief that the housing market is rigged not to collapse. Therefore he decides not to buy buy as prices will collapse....... even though he has literally just stated that the government won't allow prices to fall. The word NUTTER springs to mind. :eek:

cells

AnotherJoe wrote: »

Talk about not getting it :eek: Thats you shorting.
Thats what you did when you rented, you took a short position on house prices, and its blown up in your face.

:wall:

I have sympathy for them.
But they must realize that their situation is not representative of the average buyer. They need to leave the confirmation bias website that is hpc where they are told the average wage and situation is £26k single man who has no help and is trying to buy in the SE.

Although the £26k income might be true that number includes part time workers and children. Its more correct to view the UK economy in its entirety that it is a £1,850 billion GDP and £8,800 billion net wealth.

Or as an individual who wants to be a home buyer the averages are probably closer to a person on £40k and their partner on a little less with one or both in line to receive a chunk of the £200 billion a year given as gifts or inheritances and more so if you are a Londoner


Instead of trying to change the country (they cant) they should accept their situation and try to change their situation. That might mean trying to earn more, it might be trying to find a partner who earns more or will inherit or it might even mean accepting that they are less fortunate and will either have to move to a cheaper location or try hard to get a social property to rent to improve their lives.

Spending 20 years on a website forum convincing each other that the world is out to get them and its all going to crash by Christmas wont help them much at all.


I do feel sympathy that they are not as fortunate as others but again its not something I can fix or help with. I would certainly support selling off 4 of the 5 million council homes to the tenants at a discount or hell maybe even for free. That way 4 million more households and their children will have an inheritance and financial support

chucknorris

Joeskeppi wrote: »

I don't think person understands common financial phrases such as "real term" and "short".

He kept going on about my interest only mortgages, and every time I said that they were originally covered by endowments he came back again, I don't think he understood what an endowment mortgage was either. If you are reading this p1212 it is a mortgage that is covered (well that's debatable now of course) by an endowment policy.

wotsthat

Joeskeppi wrote: »

I wonder what the house in this post is worth now

http://forums.moneysavingexpert.com/showpost.php?p=64413610&postcount=20

I don't get it. He wants to buy a house, finds one he likes (loves it no less) and despite knowing the government and BoE are going to increase prices finds he's only willing to offer £310k when the asking price is £315k.

It must be up by at least £100k and he's paid nearly 3 years rent in the meantime. At least his rent is heavily subsidised (although I might be thinking of Mr Leg End). No wonder he isn't exactly Mr sweetness and light.

chucknorris

cells wrote: »

I have sympathy for them.

Me too, but not individuals that act like prats, telling everyone else that they have got it wrong and that they don't understand, when it is bleeding obvious to everyone except them, that they haven't got a clue.

cells

wotsthat wrote: »

I don't get it. He wants to buy a house, finds one he likes (loves it no less) and despite knowing the government and BoE are going to increase prices finds he's only willing to offer £310k when the asking price is £315k.

It must be up by at least £100k and he's paid nearly 3 years rent in the meantime. At least his rent is heavily subsidised (although I might be thinking of Mr Leg End). No wonder he isn't exactly Mr sweetness and light.

there is some inexperience or indecision paralysis at play.
I recall my first purchase I was full of doubt and it took 6 moths as I kept delaying it. It was not an ideal property or an area I particularly wanted to live in but it was affordable and a solid flat. Very luckily for me the seller was a lovely lady who put up with my nonsense and I finally bought it and im very glad I did

For me the indecision paralysis doesn't seem to go away for main home purchases although it becomes almost a non factor in investment purchases.

cells

chucknorris wrote: »

Me too, but not individuals that act like prats, telling everyone else that they have got it wrong and that they don't understand, when it is bleeding obvious to everyone except them, that they haven't got a clue.

its just human nature the way the mind is wired up.
confirmation bias and group think is very hard to escape or control

The first step is to listen to other groups so for his own good he should not run away and read this forum for alternative views and try to judge which is working and explaining things best

mwpt

cells wrote: »

there is some inexperience or indecision paralysis at play.
I recall my first purchase I was full of doubt and it took 6 moths as I kept delaying it. It was not an ideal property or an area I particularly wanted to live in but it was affordable and a solid flat. Very luckily for me the seller was a lovely lady who put up with my nonsense and I finally bought it and im very glad I did

When and where was that, cells?

westernpromise

cells wrote: »

Although the £26k income might be true that number includes part time workers and children.

And of course it includes people who, back in the good old days of the mid-1990s or the mid-1960s, would not have bought. Strip those out and as you say the numbers change.