House prices

GreatApe

Crashy_Time wrote: »

You bought straight back into the bubble didn`t you? How much down are you so far?

Only 3-4% of homes transact in any given year

That means only 3-4% of homeowners will suffer a full crash, the other 96-97% of homeowners will be protected by prior years of HPI.

Someone who bought 5 years ago in London has seen prices increase 60% to date. That means prices would need to crash 38% for to just wipe out their HPI profit. They would also have paid 5 years of low mortgage rates much lower than rents

So even if there was a truly massive 40% HPC in London, >80-85% would not have lost a single penny in their house purchase.

In fact even that is too high an estimate as a lot of purchases of homes in any given year are sideways movers who bought earlier. Take them into account and its >85-90% of home buyers in London are immune from a 40% HPC

Waiting for a hpc has been a disaster, if only the hpc members could sue that silly website for losing them hundreds of millions of pounds

Crashy_Time

GreatApe wrote: »

Only 3-4% of homes transact in any given year

That means only 3-4% of homeowners will suffer a full crash, the other 96-97% of homeowners will be protected by prior years of HPI.

Someone who bought 5 years ago in London has seen prices increase 60% to date. That means prices would need to crash 38% for to just wipe out their HPI profit. They would also have paid 5 years of low mortgage rates much lower than rents

So even if there was a truly massive 40% HPC in London, >80-85% would not have lost a single penny in their house purchase.

In fact even that is too high an estimate as a lot of purchases of homes in any given year are sideways movers who bought earlier. Take them into account and its >85-90% of home buyers in London are immune from a 40% HPC

Waiting for a hpc has been a disaster, if only the hpc members could sue that silly website for losing them hundreds of millions of pounds

No, when your neighbour knocks 100k off his house your "HPI Protection" is ripped up :rotfl: Stop posting this absolute waffle, please. When rates rise a lot of people in the UK will be very worried as their debt is not just for houses, in some cases it is for everything

economic

Greatape - it really is impossible to argue with stupidity.

Crashy_Time

economic wrote: »

Greatape - it really is impossible to argue with stupidity.

How much are you down on your bubble purchase?

economic

Crashy_Time wrote: »

You bought straight back into the bubble didn`t you? How much down are you so far?

actually im up a lot in terms of:
- in capital gains (not that i actually care that much)
- in rent vs interest rate differential (i paid interest on a mortgage rather then rent which is more expensive).
- peace of mind (and therefore reduced stress) for years that i didnt need to move out forcefully and still dont - and never will.
- not have to worry about house prices going higher and therefore constantly ask my self should i buy now or wait for next crash (less stress).
- work on other aspects of life instead of worrying about accomodation for the next many decades i will hopefully be alive.

as you can see there are many intangible things that i have gained in by just buying and not worrying if house prices crash. even if prices crash, who cares? i have gained a lot in other things (see above).

i think a lot of people are heavily influenced by the media and in crashys case HPC site. its sad really and i feel sorry for people like this.

GreatApe

Crashy_Time wrote: »

No, when your neighbour knocks 100k off his house your "HPI Protection" is ripped up :rotfl: Stop posting this absolute waffle, please. When rates rise a lot of people in the UK will be very worried as their debt is not just for houses, in some cases it is for everything

But my neighbors have not knocked 100k off their house sales, they have added on average £50k to their house sales each year every year :T

They would need to knock £250k off just to get back to where prices were 5 years ago and all the time the crash leaders are saying the crash is so close i can taste it yet every single year prices keep going up

Since 1995 London prices have fallen for just 1 of the years the other 22 years they have gone up :T

Crashy_Time

economic wrote: »

actually im up a lot in terms of:
- in capital gains (not that i actually care that much)
- in rent vs interest rate differential (i paid interest on a mortgage rather then rent which is more expensive).
- peace of mind (and therefore reduced stress) for years that i didnt need to move out forcefully and still dont - and never will.
- not have to worry about house prices going higher and therefore constantly ask my self should i buy now or wait for next crash (less stress).
- work on other aspects of life instead of worrying about accomodation for the next many decades i will hopefully be alive.

as you can see there are many intangible things that i have gained in by just buying and not worrying if house prices crash. even if prices crash, who cares? i have gained a lot in other things (see above).

i think a lot of people are heavily influenced by the media and in crashys case HPC site. its sad really and i feel sorry for people like this.

Let`s see how you feel after the London market crashes

economic

GreatApe wrote: »

But my neighbors have not knocked 100k off their house sales, they have added on average £50k to their house sales each year every year :T

They would need to knock £250k off just to get back to where prices were 5 years ago and all the time the crash leaders are saying the crash is so close i can taste it yet every single year prices keep going up

Since 1995 London prices have fallen for just 1 of the years the other 22 years they have gone up :T

and its worth noting 22 years is a quarter of life expectancy. Crashy - did you waste a quarter of your life worrying about house prices crashing?

GreatApe

Crashy_Time wrote: »

Let`s see how you feel after the London market crashes

Trust me people who buy and then house prices crash, they dont sit there crying and depressed. They might at most think ahh crap I might have got this for £20k cheaper had I waited 2 years and that will be the extent of their sadness a total of 5 seconds

Compare that to the decade+ time frames renters have lost and been !!!!ed off almost daily that their bets are going against them. The relationships they have lost, the delayed lives they have to live and the constant negative feelings to themselves of why they foolishly listened to a group of poor bitter house price crash cheerleaders who have lost them thousands in rent and thousands in hpi.

Crashy_Time

GreatApe wrote: »

Trust me people who buy and then house prices crash, they dont sit there crying and depressed. They might at most think ahh crap I might have got this for £20k cheaper had I waited 2 years and that will be the extent of their sadness a total of 5 seconds

Compare that to the decade+ time frames renters have lost and been !!!!ed off almost daily that their bets are going against them. The relationships they have lost, the delayed lives they have to live and the constant negative feelings to themselves of why they foolishly listened to a group of poor bitter house price crash cheerleaders who have lost them thousands in rent and thousands in hpi.

Really? I have heard people saying that the misery of negative equity is one of the worst most trapped feelings you can have, especially if you don`t like the property/area that much. Your experience will be different no doubt