When a listing just sit there with no reduction and no sale

MobileSaver

Diocletian_II wrote: »

That would be a crazy waste of money!

So it's been a month since you started the thread; that's another month you have been paying your landlord's mortgage instead of your own.

That's another month paying to live in someone else's less than ideal property when you could be living in your own dream home.

What a crazy waste of money!

System

The ongoing reductions I am seeing in asking prices, £10k, £25k, £50k, £100k etc far exceed rent. And even if I needed a mortgage, the interest payments would cost more than rent. Plus, most of my capital is earning a tidy income being kept away from property. So all in all, it makes financial sense not to jump in right now, and that's ignoring the fact that what's on offer is pretty abysmal right now, and I wouldn't hand over my hard earned cash for it.

tom9980

Diocletian_II wrote: »

The ongoing reductions I am seeing in asking prices, £10k, £25k, £50k, £100k etc far exceed rent. And even if I needed a mortgage, the interest payments would cost more than rent. Plus, most of my capital is earning a tidy income being kept away from property. So all in all, it makes financial sense not to jump in right now, and that's ignoring the fact that what's on offer is pretty abysmal right now, and I wouldn't hand over my hard earned cash for it.

Nothing really wrong with that but bear in mind if the market does dip then transactions fall and people don't move so it will be harder to find the right property. It makes sense if you get lucky and find that perfect property when the market is low. It is a fine balancing act.

System

tom9980 wrote: »

Nothing really wrong with that but bear in mind if the market does dip then transactions fall and people don't move so it will be harder to find the right property. It makes sense if you get lucky and find that perfect property when the market is low. It is a fine balancing act.

Yes, I am monitoring the market, watching and waiting for the right property at the right price. So far all I have seen is overpriced dross, but that seems to be slowly changing as asking prices get reduced. Waiting makes sense.

MobileSaver

Diocletian_II wrote: »

My capital makes more invested in high dividend shares.

Of course it does. Everyone who has a lump sum put aside to buy a house would invest it in "high dividend shares" because, let's face it, what could possibly go wrong in today's chaotic world?!?!

Diocletian_II wrote: »

ongoing reductions in asking prices at the moment far exceed rent.

:rotfl:

Diocletian_II wrote: »

the interest payments would cost more than rent.

Of course they would!

I suppose that could be true if your current abode bears little resemblance to your dream home but in that case you're being a little disingenuous as you are not comparing like for like.

Thinking about it more that obviously must be the case as otherwise why would you be so obsessed with finding your ideal home. I assume you are single as it's unlikely a partner would also be happy with your temporary living accomodation while you wait for the fabled house price crash?

System

You seem preoccupied with my financial circumstances. Well, whatever floats your boat.

MobileSaver

Diocletian_II wrote: »

You seem preoccupied with my financial circumstances. Well, whatever floats your boat.

You seem to be preoccupied with convincing yourself and everyone here that there's a house price crash despite every official, legitimate report proving that there is no such thing.

If it makes you happy then knock yourself out but you will be challenged so that others don't get duped into making the same financial mistake that the likes of you and Crashy did. :beer:

System

I am obviously of interest to you. Whatever tickles your pickle.

silvercar

Moving this thread over to the "debate" board as requested.

Sailtheworld

Diocletian_II wrote: »

Yes, I am monitoring the market, watching and waiting for the right property at the right price. So far all I have seen is overpriced dross, but that seems to be slowly changing as asking prices get reduced. Waiting makes sense.

If you can rent for less than a mortgage and are getting rich on that cash deposit why would you ever want to buy?