Will there really be a crash?

Crashy_Time

lisyloo wrote: »

What mortgage?


Sorry, sorry, had to get it in just the once (promise)

Say you wanted to sell your house, do you think someone would be willing to take on the mortgage to make your equity real at todays prices?

ukcarper

Crashy_Time wrote: »

Say you wanted to sell your house, do you think someone would be willing to take on the mortgage to make your equity real at todays prices?

You are still missing the point entirely

Jack_Johnson_the_acorn

Crashy_Time wrote: »

Didn`t you once post a picture from a show flat you found on the internet and say it was your flat, or was that someone else?

You've just made my day. Because it's my property. :rotfl:
It's sad that you consider my property a show property, what kind of dumps are you living in to consider my maisonette a "show flat" :eek:

MobileSaver

Crashy_Time wrote: »

do you think someone would be willing to take on the mortgage to make your equity real at todays prices?

Every single month over 100,000 normal, sensible people are doing just that... either with a mortgage or their own cash.

I don't think there's any hope for you any more. Even you must now realise that you made the biggest financial mistake of your life but rather than man up you continue to blame everyone but yourself. Until you can admit you got it wrong you will never be able to bring yourself to take the next step.

Your problem is that your dream of a meaningful HPC will never happen. Yes prices will go up and down as they always do but for prices to drop to 50% less than those in 2003 or whenever you made that fateful decision they would need to drop by 70% from today's prices. That simply will not happen as if it did then buying a decent house in a decent area would be the very least of yours and everyone else's problems!

ukcarper wrote: »

You are still missing the point entirely

Crashy has been missing the point for well over a decade while the rest of us just got on with our lives.

ukcarper

MobileSaver wrote: »

Crashy has been missing the point for well over a decade while the rest of us just got on with our lives.

Exactly I have now retired and am living a very comfortable life on a relatively low income if I was having to find another £10,000 a year rent I would not be able to.

lisyloo

Crashy_Time wrote: »

Say you wanted to sell your house, do you think someone would be willing to take on the mortgage to make your equity real at todays prices?

Yes, because todays prices by definition are what people are willing to pay.


You have missed the point about 40 years of life without having to pay any mortgage or rent plus the ability to release equity by downsizing/downshifting (although that is not the mainstay of my retirement provision).

Thrugelmir

lisyloo wrote: »

Yes, because todays prices by definition are what people are willing to pay.

Those with adequate finance to do so. Corrections also occur when supply exceeds demand. Churn of overall housing market is very low. A "crash" in reality only would require a relatively small % of property to be marketed.

lisyloo

Those with adequate finance to do so.

Of course and at some point there may be a crash (which won't bother me that much if I'm living in it).
It is not a liquid asset which is why it's sensible to have liquidity in other parts of your portfolio.

The type of house I have is bought either by people going up-market or people downshifting from London (and it's cheap compared to London prices) so in both cases would have a reasonable % of equity.


However of course it's ILliquid and can go up and down.


It's still highly likely to be a good thing to do if you get 40 years of rent free living (estimated timescale :-)


I don't forsee a crash at the moment as there are so many people wanting to live in this country (net migration still positive and quite high) and unemployment is very low.

andrewf75

lisyloo wrote: »

You have missed the point about 40 years of life without having to pay any mortgage or rent plus the ability to release equity by downsizing/downshifting (although that is not the mainstay of my retirement provision).

Thats what its all about for me.

I can't see how retirement is feasible unless you own your home.

AG47

No more boom and busts,

All boom forever from now.

And pigs have started flying