Buy now or wait till BREXIT

lisyloo

AnotherJoe wrote: »

(s)he wasnt. That was a reference to the user "Crashy Time"

Trashy Time = Crashy Time


He/She continually trolls with little back up for their arguments and when it is presented it's often irrelevant or a different context.
He/She not interested in enaging in serious debate just trying to talk down the property market.
He/She provides no details of their personal situation which I think is relevant as I listen more attentively to people who've done well and people who promote STR (sell to rent) or timing the property market out to say how it's affected them.


For me not trying to time the market means I own a nice home outright at 50 and have a decent pension pot and looking forward to early retirement. No gifts, no high salary (added as people here just make assumptions and make stuff up) just sensible budgetting/diversification and not listening to people who want other to take stupid risks or do nothing for decades.

Crashy_Time

51mm5 wrote: »

Halifax January House Price index - Shows house prices 2.2% up for December

https://static.halifax.co.uk/assets/pdf/mortgages/pdf/December-2018-House-Price-Index.pdf

How did new enquiries, sales transactions and mortgage approvals fare?

whyigetmorelikes

AnotherJoe wrote: »

(s)he wasnt. That was a reference to the user "Crashy Time"

my apologies CC:beer:

Crashy_Time

lisyloo wrote: »

Trashy Time = Crashy Time


He/She continually trolls with little back up for their arguments and when it is presented it's often irrelevant or a different context.
He/She not interested in enaging in serious debate just trying to talk down the property market.
He/She provides no details of their personal situation which I think is relevant as I listen more attentively to people who've done well and people who promote STR (sell to rent) or timing the property market out to say how it's affected them.


For me not trying to time the market means I own a nice home outright at 50 and have a decent pension pot and looking forward to early retirement. No gifts, no high salary (added as people here just make assumptions and make stuff up) just sensible budgetting/diversification and not listening to people who want other to take stupid risks or do nothing for decades.

https://www.bbc.co.uk/news/business-46748966


This was posted recently by me to back up a discussion about credit conditions having changed dramatically since the heyday of the property bubble. The quote regarding credit conditions was...


"Separate figures from the Bank of England showed that mortgage approvals for house purchases fell in November, and are now at half the level of 15 years ago."


As far as I am aware you didn`t engage with this information, or the other two or three links I posted on the same thread, but instead used your usual posting style of stories about your own personal experiences of buying in the 1990`s. How does this help anyone buying now on the eve of Brexit? Personal experience doesn`t affect the property market in the same way that broad credit conditions affect the property market, and making up negative names for other posters just shows a lack of convincing counter argument IMO.

MobileSaver

Crashy_Time wrote: »

credit conditions having changed dramatically since the heyday of the property bubble. ... mortgage approvals ... are now at half the level of 15 years ago.

What relevance does what happened fifteen years ago have to today?

For your information mortgage approvals are double what they were nine years ago so presumably by your metric that means the housing market is doing just fine thanks! :rotfl:

AndyBSG

Obvious question, you hold off buying because you think house prices will crash.

They do and you get a cheaper house... Yay.

However, that have crashed because of the catastrophic effects of Brexit so although you have paid much less, the interest rates are now through the roof and your mortgage is costing much more.

So, how have you benefited?

Personally, I'd completely ignore Brexit because, as others have said, the chance of a real crash outside of London isn't as likely as everyone says simply because there are not enough houses to go around.

Brexit won't change that so getting a long term fixed rate now, protecting yourself from the potentially catastrophic interest rate rises may actually be the safer option.

Crashy_Time

MobileSaver wrote: »

What relevance does what happened fifteen years ago have to today?

For your information mortgage approvals are double what they were nine years ago so presumably by your metric that means the housing market is doing just fine thanks! :rotfl:

That wouldn`t be difficult though would it :rotfl:


https://www.independent.co.uk/news/business/news/uk-mortgage-approvals-collapse-to-record-low-of-42000-857740.html


And don`t forget we had the biggest bank bailout in history and Trillions in QE to keep debt holders treading water :eek:

Crashy_Time

AndyBSG wrote: »

Obvious question, you hold off buying because you think house prices will crash.

They do and you get a cheaper house... Yay.

However, that have crashed because of the catastrophic effects of Brexit so although you have paid much less, the interest rates are now through the roof and your mortgage is costing much more.

So, how have you benefited?

Personally, I'd completely ignore Brexit because, as others have said, the chance of a real crash outside of London isn't as likely as everyone says simply because there are not enough houses to go around.

Brexit won't change that so getting a long term fixed rate now, protecting yourself from the potentially catastrophic interest rate rises may actually be the safer option.

There are plenty of houses to go around, and the tax/council tax penalty for keeping 2nd homes etc. empty is just going to get steeper and steeper, simply because there are plenty of votes in that approach now and the councils/government need the revenue. The banks no longer dish out juicy long term fixes at nothing interest rates to anyone who can fog a mirror, you need a chunky deposit, and the majority now are up to their neck in debt, so won`t be getting a mortgage to pay bubble prices anyway. Brexit is going to have long lasting effects on the numbers coming here, and that is sure to have a knock on effect for the property market.

AnotherJoe

AndyBSG wrote: »

Obvious question, you hold off buying because you think house prices will crash.

They do and you get a cheaper house... Yay.

However, that have crashed because of the catastrophic effects of Brexit so although you have paid much less, the interest rates are now through the roof and your mortgage is costing much more.

So, how have you benefited?

Personally, I'd completely ignore Brexit because, as others have said, the chance of a real crash outside of London isn't as likely as everyone says simply because there are not enough houses to go around.

Brexit won't change that so getting a long term fixed rate now, protecting yourself from the potentially catastrophic interest rate rises may actually be the safer option.

Unwarranted assumption . It seems very unlikely that interest rates would rise, especially "through the roof" Much more likely they would stay as is or fall , though they can't fall much. Indeed if you think "catastrophic interest rate rises would happen who on earth would instigate such a catastrophic rise? Since it would be "catastrophic".? It wouldn't happen.

Crashy_Time

https://www.thesun.co.uk/money/8155885/brexit-majority-first-time-buyers-waiting-house-prices-drop/


The desperation from the property VI`s in this article to spin Brexit as something positive tells us all we need to know about transaction levels and mortgage approval levels I think. It will be credit conditions globally that finally decide the fate of the property market though, and that is driven by how things play out in China/US and EZ.