House Price Crash Discussion Thread

pickledpink

mystic_trev wrote: »

pickledpink is dreambreaker's new logon - ignore!

Mystic Mev,

I don't know what your problem is but I am most certainly not Dreambreaker (whoever THAT is).

I'm merely giving MY view of the property market. If my factual comments upset you then that's your problem.

It seems to me that you expect property to come down to suit YOUR pocket! How about I saunter into the Ritz hotel and demand they rent me a room for half the going rate cos I CAN'T AFFORD THE PRICE?!:rotfl:

pickledpink

Generali,

But house prices DO increase over the years. Always.

There may be the odd slump here and there but they always, always go up again. The last 100 years will show you that.

Property prices, wages, consumer goods.......they all rise with time and inflation: that's a fact.

The founder of this very site has invested in property: what does that tell you??;)

Anyway, if these sour-graped doom-mongers feel property is such a bad investment I don't know why they're worrying themselves about it - they don't own one so they've got nothing to worry about have they?:D

pickledpink

Another point I'd like to make is that people keep harping on about how unsustainable property prices are - well people have been saying that for the last 20 years - and they're still rising!

It's strange that the very people who are getting into a near frenzy at the hope of a property crash (which will not happen now that interest rates are going down yet again) are planning on buying a place themselves!:rolleyes: If they think property is such a bad investment whyever are they so eager to buy???????????

nightwatchman

Picledpink Quote
It seems to me that you expect property to come down to suit YOUR pocket! How about I saunter into the Ritz hotel and demand they rent me a room for half the going rate cos I CAN'T AFFORD THE PRICE?!:rotfl:

Uhh!! Actually yes! You can do that with accommodation (in a way). OK it will not be the Ritz however if you have not high expectations you can always settle with council housing. The question is who is paying for council housing?
You and I are paying that’s who.
My self soon I will have to depend on social housing only so as to start a family, I will get a bang for the tax I paid. Then it will be the average homeowner-taxpayer subsidising my rent.

ManAtHome

pickledpink wrote: »

Another point I'd like to make is that people keep harping on about how unsustainable property prices are - well people have been saying that for the last 20 years - and they're still rising!

It's strange that the very people who are getting into a near frenzy at the hope of a property crash (which will not happen now that interest rates are going down yet again) are planning on buying a place themselves!:rolleyes: If they think property is such a bad investment whyever are they so eager to buy???????????

LOL - rising consistently since 1987 - think not.

Nothing will change now interest rates are going down - think not

Properdeee/investment - says it all really, a lot of poeple would like a HOME not an "investment". Most of the "frenzy" seems to be coming from the "properdee only ever goes up", "different this time", "miracle economy" etc etc crowd.

Still, sure you'll continue to support the supply/demand arguments when things other than bricks continue to go up, credit becomes much harder (and more expensive) to get, and/or taxes go up to cover for nulab having to bail out financial institutions (possible future tax clue - what's difficult to move offshore, hide under a matress, move into a pension etc..?).

Turnbull2000

pickledpink, yer a ferking idiot

nightwatchman

Answers to ali007

-Are you on the council waiting list? Even if you wait 10 yrs you will get to the top of the list eventually - and further down the line would have the chance to buy it.

Not yet.
I used to look down on people depending on the welfare system.
I was always believed that state help and welfare system was a curse not bliss.
If we not had them, then there would not be all this influx of immigrants overstretching the system. And if the fourteen year old gymslip mother knew that she would had to fend for herself, then she would have never be gymslip mother in first place, demanding a free living from my (and your) tax.
The system currently is a vicious circle, the more the state provides the more the demand for welfare will increase. This is social engineering at its worst.
In the future it looks like I will have to depend on this catch 22.

-Are either of you classed as key workers?

No I am a hotel line manager my wife is supermarket worker.

-Are there any shared ownership schemes available to you?

If there are I don’t want anything to do with them. I think that Share Ownerships combine the worst elements of be home owner and renter without any of the benefits

-You are both earning v low wages - yet you have an HND. Are you using it?

18K for me and 13k form my wife are about average for our work. (18k is not v low there ara many out there on lower wages)

-Any chance of promotion, progression etc?

Yes soon she will earn 14-15K and me in two years about +20K, however when we manage to become parents her earnings will diminish.

-What about retraining?

No our time to start family (having kids) is now or never. She is 29 this year and I am in my 30s. If we wait for five or more years it may be hard for her. If I retrain my earnings will go south for some time. I can not aford anything lower if I have to have kids now. Unfortunately hospitality is not pay very well. L


-Could either of you take on a second job to build up a bigger deposit?

When we manage to become parents I will defiantly get a second job, my wife’s earnings will diminish however.
I have already +30k in the bank. Tahnks to this MSE next year I will have an extra 5k. What I don’t have is the insanity to splash it out to buy a house that I can not afford under the circumstances.

pickledpink

ManatHome,

Are you suggesting that property prices haven't risen in the last 20 years???!!!!:rotfl: Why don't you take a look back at what prices were 10/20 years ago?

Turnbull,

What gives you the right to insult me?! To call me a 'ferking idiot'? I feel I should report you to the moderators of this site: you are rude and come across as bitter and miserable; not my fault you haven't achieved what you want out of life. And for your information - this 'ferking idiot' has just sold her property for over half a million (and made a profit of £440K - in just 10 years!)

Happy New Year to you!:T

Turnbull2000

You earned the right. Be proud honey.

nightwatchman

Pickledpink

If you have alternative accommodation to live then you did well. Selling and getting out of the property market with £440k profit is something that the most of us we don’t dare to dream. If I was in your place I would had done exactly the same. To be honest I envy you.

However if you have to buy a new house of the same standards to the one that you sold then all your profit will be absorbed by your new mortgage. This £440k in this case will be only paper earnings.

Yes the property will go up in the long term, this is undeniable. Please bear in mind though that there are examples of decline and stagnation that has last decades. The most obvious example in my memory is Japan were the property prices have hardly increased since 80’s.