Is this buyers remorse?

Tiners

ReadingTim wrote: »

You can be as handwringingly despondent as you like, it won't do you any good. The "debt based money system" AKA western capitalism doesn't seem to have toppled yet, whilst its rivals, save for Cuba and North Korea, have come and gone.

My own view is that the property market is the next "big banks", will be similarly deemed 'too big to fail' and accordingly, will be bailed out at all costs.

If you think govts and central banks are currently allowing a truly Capitalist economy to operate then I think you need to do a bit more reading Tim.

Also I think you'll find the property market has been getting bailed out all costs (via QE, ''emergency'' ZIRP, FLS, HTB etc etc) for almost the last 10 years. Quite how much more and for how much longer this will continue to be the case nobody knows.

Lurkingtoposting17

OP I am just about to exchange and I am already feeling how you do. I go back and forth on it being a good idea/bad idea/great idea/worst idea I have ever had.
The solution is to never leave my parents ... also seems as ridiculous as buying a house ... so who knows. Just going with it. I remember being really excited by the house when I saw it. That was May. I barely remember it now! hahaha.

ReadingTim

Tiners wrote: »

Also I think you'll find the property market has been getting bailed out all costs (via QE, ''emergency'' ZIRP, FLS, HTB etc etc) for almost the last 10 years. Quite how much more and for how much longer this will continue to be the case nobody knows.

No, nobody knows, as we can't predict the future. All we can look at are past results. And given the "emergency" bail-out is now going into its 2nd decade, I suggest it's going to continue to be the case for some time.

Hence the previous statement, the property market in the UK has been deemed to be 'too big to fail', and will be propped up/bailed out etc accordingly.

Alternatively, as no-one knows, then your interpretation of the position is just as rubbish as mine.

Crashy_Time

_CC_ wrote: »

We had that post-2007. Borrowing and transactions went down significantly.

Here we are ten years later.

Most of those who bought at that time now own assets that have largely appreciated whilst paying a decade of extremely low interest rates.

Did many in the HPC crowd buy at this point, or was the crash not quite [insert reason]?

You missed the bit where they cut interest rates to their lowest level ever, and introduced various props for the housing market using tax-payers money, what do you think will be the next move to keep the debt Ponzi scheme going, and do you think the public will stand for that after what we have seen with Trump/Brexit etc.? The difference now is that large numbers of people WANT house prices to crash, back then we were told that the banks would shut down if they didn`t act quickly, now we know that isn`t going to happen, the only people who don`t want basic shelter to become cheap are those who think their little bungalow should be worth ten times what they paid for it IMO. The government tax moves on BTL show that they know the public mood has changed, otherwise they would be encouraging that bandwagon to keep rolling?

pinklady21

Back on topic - yep this is normal in my experience! The last time I moved I had been in my previous home for over 20 years.... and while I did love the location of the next one, I didn't love the house. But..... houses can be changed and I do love it now, 6 years on! We are once again moving though, and here I am going thru the whole angst-ridden process again.
We have found a lovely next home, well in a great location at least, the next house also needs significant work.... but it doesn't stop the wee voice inside shouting "What were you thinking!"
(I am telling it to shut up as I have far too much packing to do!)

Good luck to the O/P and anyone else suffering the stress of moving!

Crashy_Time

ReadingTim wrote: »

No, nobody knows, as we can't predict the future. All we can look at are past results. And given the "emergency" bail-out is now going into its 2nd decade, I suggest it's going to continue to be the case for some time.

Hence the previous statement, the property market in the UK has been deemed to be 'too big to fail', and will be propped up/bailed out etc accordingly.

Alternatively, as no-one knows, then your interpretation of the position is just as rubbish as mine.

There have been big political consequences to the emergency bail out though, that hurts the people the interventions were meant to protect i.e the bankers and the wealthy, and it is widely accepted that QE hasn`t worked as well as they may have hoped, AND interest rates should have risen by now, plus low rates are hurting the banks. To keep it on topic of Buyers Remorse, maybe some buyers just don`t like the "vibe" of the new place once they move in, others may be watching the political/economic situation and be genuinely worried about their debt levels, IMO there is a difference between dropping 500k of debt on a London shoebox and buying a "home" for 150k or whatever, the losses in the event of a crash on the cheaper home will probably be manageable, where the person attached to the shoebox will be wiped out. DYOR.

ReadingTim

Crashy_Time wrote: »

There have been big political consequences to the emergency bail out though, that hurts the people the interventions were meant to protect i.e the bankers and the wealthy, and it is widely accepted that QE hasn`t worked as well as they may have hoped, AND interest rates should have risen by now, plus low rates are hurting the banks.

I'm not denying that - my point is that the potential consequences of not doing that (ie allowing the property market to fail or crash) are deemed to be infinitely worse - 'Turkeys vote for Early Christmas' etc

But back on topic, yeah, it's classic buyer's remorse, as per wikipedia..

tempus_fugit

LKRDN_Morgan wrote: »

Completed today on our first ever home. When I got the call from the solicitor to say everything's done I was excited but now a few hours later I feel like a wreck!
I don't know what's wrong with me! I loved this house when we viewed it. I loved it when I went back to measure after exchange but now I'm sat back in my rented thinking !!!!!! have we done.

Is this really normal?? Does it pass? I'm never emotional but right now I'm feeling like I could burst into tears at any moment

I had this once after we bought a house, two days in and I just broke down and thought what have we done and was seriously thinking of selling up and moving again, but we would never have afforded it. As it is I got used to it and ended up living there for eight years, although I was glad when we did eventually move on. I look back at it now as a necessary part of "climbing the ladder" as we are in a good place now and it turned out to be a necessary part of the process. Nothing is attained without effort and one day you will look back and be glad that you did it.

bertiewhite

Crashy_Time wrote: »

The problem with being attached to big debts (500k for a London shoebox in a sketchy area anyone?) is that you are stuck with that debt whether the market or interest rates go North or South. (And interest rates can`t go much further South can they?)

and the problem with renting is that you will be paying to live in someone else's house forever.

Crashy_Time

bertiewhite wrote: »

and the problem with renting is that you will be paying to live in someone else's house forever.

By the time most recent buyers in the South and London especially finally manage to pay off their mortgage they will be in the retirement home anyway, so what is the difference?