What will average house prices need to fall to for the next generation to buy own home?

lisyloo

snowqueen555 wrote: »

If prices fell 20% I'd be able to get the cheapest two bed flats available (£150k+) where I am. Economically that is my best bet, I can let out a room.

But presumably only if your job and met tightened mortgage criteria right?

There won’t be a crash without some serious economic problem which will mean job losses and probably tightened mortgage criteria e.g. no high LTVs.

snowqueen555

lisyloo wrote: »

But presumably only if your job and met tightened mortgage criteria right?

There won’t be a crash without some serious economic problem which will mean job losses and probably tightened mortgage criteria e.g. no high LTVs.

I have a "decent" deposit saved up, but don't earn a lot and am single, so I have the opposite problem of most people trying to save up who tend to be in a relationship (so can borrow more) but have little savings.

triathlon

RelievedSheff wrote: »

It is always going to be the case that those who waited and missed the boat are going to be bitter about those who got on with life and now have what they worked hard for.

It seems like the likes of real element, crashy and A47 want this perfect utopia where nothing is a struggle for them along with a plan of very bad things happening to very good people, millions of good people in fact, where there is a collapse in house prices and then people lives. What a way to go through life, treating people who make homes for their families as some kind of evil people that are holding them back, when the truth is that they made their own bed.

There was an awful property crash in the early 1990's that I remember, there are no doubts in my mind that this country learnt from that and will never let it happen again, at least not without a major fight

BikingBud

triathlon wrote: »

There was an awful property crash in the early 1990's that I remember, there are no doubts in my mind that this country learnt from that and will never let it happen again, at least not without a major fight

But most don't remember it all just fades into the past and we make the same mistakes all over again.

lisyloo

triathlon wrote: »

It seems like the likes of real element, crashy and A47

AG is the chemical element silver
AG47 = RealElement47

A bit like the perma prop bulls, imaginary companions

AG47

lisyloo wrote: »

There won’t be a crash without some serious economic problem which will mean job losses and probably tightened mortgage criteria e.g. no high LTVs.

There will be a crash because of the some serious economic problems which will mean job losses and probably tightened mortgage criteria e.g. no high LTVs.

Herzlos

AG47 wrote: »

There will be a crash because of the some serious economic problems which will mean job losses and probably tightened mortgage criteria e.g. no high LTVs.

You're agreeing with him.

In this next recession, why do you think you'll be able to capitalize?

lisyloo

Herzlos wrote: »

You're agreeing with him.

In this next recession, why do you think you'll be able to capitalize?

Her

But yes AG47 seems to be imagine some disagreements that don’t exist.
There will be a downturn at some point.
I hope to be in my owned outright house drawing down from my global diversified and suitably risk averse (for my age/position) portfolio.
I.e. far from disagreeing, I’ve actually planned it in.

If I feel like it I could pick up a property, but in general I don’t think I’d like to spoil my life of leisure with the hassle of tenants if I have enough money to do what I want already.

Tell us where you will be financially speaking.

westernpromise

lisyloo wrote: »

Her

But yes AG47 seems to be imagine some disagreements that don’t exist.
There will be a downturn at some point.
I hope to be in my owned outright house drawing down from my global diversified and suitably risk averse (for my age/position) portfolio.
I.e. far from disagreeing, I’ve actually planned it in.

If I feel like it I could pick up a property, but in general I don’t think I’d like to spoil my life of leisure with the hassle of tenants if I have enough money to do what I want already.

Tell us where you will be financially speaking.

Well, AG buys an ounce of silver a week, so he's saving at the prodigious rate of about £600 a year. He'll be sitting pretty.

Herzlos

lisyloo wrote: »

Her

By bad, I didn't read your name he was quoting :A