At last: A reason to celebrate

Arklight

25% off by Christmas.

;-)

chucknorris

Thrugelmir wrote: »

The tortoise ultimately will win the race. However long it takes to get there.

The race is over thrug, properties have not only shot up in value, but for the last 9 years (and still counting) mortgage interest rates have been next to nothing (that was about £300k to me). We have already had the party, suffered the hangover and moved on years ago.

caronoel

Arklight wrote: »

25% off by Christmas.

;-)

Aaah, fond memories of brit1234's prediction of 50% drop by Christmas 2009.

We don't see much of the muppets in these parts any more.

I wonder why?

:rotfl::rotfl::rotfl:

triathlon

Graham_Devon wrote: »

Take it you guys didn't care for the article much then?

I am willing to bet that you are not even remotely close to the price houses need to be after all your waiting and willing ill on others.

thor

HPC_Ghuol_Hunter wrote: »

So you wish to celebrate hard working families going into negative equity or worse, loosing their family homes.

For hard working families with only one house it shouldn't be a problem. As long as they keep paying the mortgage the value of their house is irrelevant.

westernpromise

I'd quite like 25% off personally. If that happened I'd trade up but instead of paying £140k stamp duty on a £2 million place I'd pay £94k on the same place for £1.5 million. £546k saving - bargain.

Won't happen, though.

If you want to know who'll do best after any correction, look at who owns property now. It'll be the same people.

chucknorris

GreatApe wrote: »

Prices in London are down about 10% and we have had about 5% inflation over the last Twp years so real prices already down 15% from peak.

Buying at the very bottom and selling at the very top of the market is only luck (as I'm sure you already know), I was lucky (and brave) enough to stick my neck out and buy mostly almost at the bottom (early 90's), when no one was buying. So I don't have to (although obviously I would like to) sell at the very top. The trouble with selling at the very top is more CGT to pay (only get to use the CGT allowance once) and of course you lose the rental income. Despite the tax changes I still have to make 4.6% on the equity of my worst performing property just to tread water, and that particular property is tenanted by two guys that never seem to contact me with issues. On my best performing property, I would have to earn over 5.5% on the equity just to tread water, so it is almost reluctantly that I have started to sell. I don't want to sell anything this tax year, because I have already used up my CGT allowance selling shares. But I will definitely sell another property the next tax year if any tenants move out, and I might even sell one if they don't.

But the good news is that we are looking to upsize (not by much though) our home, so we are/will be buying in a decent market for buyers.

ScorpiondeRooftrouser

HPC_Ghuol_Hunter wrote: »

So you wish to celebrate hard working families going into negative equity or worse, loosing their family homes. All just so that you can pick up someone else!!!8217;s home for peanuts. You disgust me.

Speaking as a home owner, a gradual decline in prices will be a good thing that would benefit a lot more hard working families than it would damage. A few people being in negative equity for a while,, which doesn't matter to them at all unless they have to move, is less of a problem than a huge number of people being priced out of property ownership altogether.

Where's your concern for the "hard working families" ..or even hard working couples or individuals....who can't buy at all?

kinger101

HPC_Ghuol_Hunter wrote: »

So you wish to celebrate hard working families going into negative equity or worse, loosing their family homes. All just so that you can pick up someone else!!!8217;s home for peanuts. You disgust me.

Enjoy laying into straw men?

chucknorris

ScorpiondeRooftrouser wrote: »

Speaking as a home owner, a gradual decline in prices will be a good thing that would benefit a lot more hard working families than it would damage. A few people being in negative equity for a while,, which doesn't matter to them at all unless they have to move, is less of a problem than a huge number of people being priced out of property ownership altogether.

Where's your concern for the "hard working families" ..or even hard working couples or individuals....who can't buy at all?

Where does this phrase 'hard working families' come from? In my experience when the SHTF and emergency hours had to be worked, i.e. all night (after a full day) and sometimes the next day too, it was nearly always the single guys like me who filled the gap. Don't get me wrong, I am married now, and I fully understand why family guys (and women) wanted/needed to go home and see/look after their children. But don't !!!! on my back and tell me that it is raining by saying the hard working guys were the married ones, they were definitely not (but as I mentioned for legitimate reasons). I have never worked hard since I married, I had made my money by then, and there was no need for it.