So tired of denial of the state of the housing market

bobbymotors

Crashy_Time wrote: »

Rent is comfortably cheap thanks, would rather have that flexibility than sit in a house that no one wants to buy for years.


https://chrome.google.com/webstore/detail/property-log/jccihedpilhidcbkconacnalppdeecno


Sure, if you timed the market and got out at peak bubble you would have made money, but you still need somewhere to live and with sellers in denial that is going to cost peak bubble money too, unless you sold in London and moved somewhere cheaper. Rent is just a cost, the key is to invest/save so that you can cover your costs, not buy an over-priced house with debt in an environment where interest rates are just screaming to go higher :rotfl:

Oh well as long as you're happy, that's the main thing.

westernpromise

Crashy_Time wrote: »

Rent is comfortably cheap thanks, would rather have that flexibility than sit in a house that no one wants to buy for years.

If you'd bought in 1996 you wouldn't have to worry about owning "a house that no one wants to buy". You would be able to give it away nothing by now. You'd still be chucking away less money than you've squandered on rent.

hazyjo

Crashy_Time wrote: »

Rent is comfortably cheap thanks, would rather have that flexibility than sit in a house that no one wants to buy for years.

Would love to see a poll of how many bods on here have taken 'years' to sell. I personally don't know of anyone. Not one single person. I've sold 7. Some have sold on the same day, a couple have taken 3-4 months or so in slower markets.

letitbe90

tom9980 wrote: »

Why would rightmove or indeed agents care about high prices anyway, they would make more money from higher volumes of sales so surely a true HPC would benefit both in the longer term.

I expect the real reason rightmove stopped updating the data is because nobody was using it or they have decided to update it every 6 months instead. It's a lovely conspiracy theory though.

I believe house prices could be linked to sales volume. When house prices are rising, people like to buy before it goes higher. When house prices are falling, people are less reluctant to buy and would rather wait for it to stop falling. Also, when house prices are falling, people are less likely to sell as they are hoping for prices to bounce back before they sell. A lot of buyers end up going a bit below asking prices during times of price falls, which further antagonises the sellers against selling up.

In a nut shell, prices falling just means that there is less demand, which would mean there is less sales volume.

Niv

Crashy_Time wrote: »

Rent is comfortably cheap thanks, would rather have that flexibility than sit in a house that no one wants to buy for years.


https://chrome.google.com/webstore/detail/property-log/jccihedpilhidcbkconacnalppdeecno


Sure, if you timed the market and got out at peak bubble you would have made money, but you still need somewhere to live and with sellers in denial that is going to cost peak bubble money too, unless you sold in London and moved somewhere cheaper. Rent is just a cost, the key is to invest/save so that you can cover your costs, not buy an over-priced house with debt in an environment where interest rates are just screaming to go higher :rotfl:

Putting to one side your history on here (be it earned or other users trolling you – no comment/judgement). Its not all about making money with a lot of people – I bought a house in a town where I had not plans to leave. I liked having the security of knowing that so long as the mortgage was paid I could stay there for as long as I liked, by comparison that does not work the same as renting as you can pay on time, never complain, never make a mess but still every 6 months get kicked out (ok you can put up a fuss and stretch it but meh).


Having said that, when looking at the money side. I recently sold that house. I sold it for approx. 10% more than I bought it for 15years ago – so not a massive money spinner when you take into account buying/selling costs right? Well no because had I rented the same house (literally both sides have been rented so I know the rent - not guessing) it would have cost ~117000 over the period of time I lived there, which is actually more than I bought my house for in the first place.

Crashy_Time

Niv wrote: »

Putting to one side your history on here (be it earned or other users trolling you – no comment/judgement). Its not all about making money with a lot of people – I bought a house in a town where I had not plans to leave. I liked having the security of knowing that so long as the mortgage was paid I could stay there for as long as I liked, by comparison that does not work the same as renting as you can pay on time, never complain, never make a mess but still every 6 months get kicked out (ok you can put up a fuss and stretch it but meh).


Having said that, when looking at the money side. I recently sold that house. I sold it for approx. 10% more than I bought it for 15years ago – so not a massive money spinner when you take into account buying/selling costs right? Well no because had I rented the same house (literally both sides have been rented so I know the rent - not guessing) it would have cost ~117000 over the period of time I lived there, which is actually more than I bought my house for in the first place.

What sensible landlord is going to be throwing people out every six months, why go to the hassle of becoming a landlord to do that?

Crashy_Time

letitbe90 wrote: »

I believe house prices could be linked to sales volume. When house prices are rising, people like to buy before it goes higher. When house prices are falling, people are less reluctant to buy and would rather wait for it to stop falling. Also, when house prices are falling, people are less likely to sell as they are hoping for prices to bounce back before they sell. A lot of buyers end up going a bit below asking prices during times of price falls, which further antagonises the sellers against selling up.

In a nut shell, prices falling just means that there is less demand, which would mean there is less sales volume.

I think some of the latest reports are saying volumes down another 6% or something, but they will go down further when all the volatility out there starts to bite IMO. people carrying large mortgage debt could be in for a bumpy ride?


http://www.talkmarkets.com/content/global-markets/deutsche-bank-could-spell-economic-and-financial-chaos?post=180496

quantumlobster

https://forums.moneysavingexpert.com/forumdisplay.php?f=149

okborednow

Crashy_Time wrote: »

What sensible landlord is going to be throwing people out every six months, why go to the hassle of becoming a landlord to do that?

I don’t think Niv was suggesting that landlords routinely throw out tenants but more that there is an inherent lack of security in renting. Landlords can choose to end tenancy agreements even if you’ve been a model tenant and paid rent on time every single time. Whereas if you buy a house and pay your mortgage on time every single month then the house is yours for as long as you want it.im sure most of the time if you’re a great tenant then a landlord will want to hang onto you but it’s the always knowing they could end my tenancy if they wanted worried me.

Crashy_Time

http://www.propertyindustryeye.com/transactions-hit-a-two-year-low-across-england-and-wales-and-in-london-sales-dwindle-to-a-nine-year-low/


Last line in the article has to be a joke, someone having a laugh on their last day at work or something?:rotfl: