I am a cash buyer. Buy now or buy later??

System

"Are tom9980's in-laws 'government shills' as well because prices were still falling?"

Perhaps you should write to your MP with your question.

ethank

I wouldn't expect a huge crash. Property prices have been fuelled by Help to Buy and that's got a fair way to go. I'm calling this a Brexit blip rather than a crash!

System

ethank wrote: »

I wouldn't expect a huge crash. Property prices have been fuelled by Help to Buy and that's got a fair way to go. I'm calling this a Brexit blip rather than a crash!

HTB has certainly been a cash cow for Housebuilding PLCs, which is why I bought vast quantities of house builder shares, so I can join in the lucrative windfall. They pay huge dividends! I do, however, expect it to end sooner or later, but the companies themselves, and analysts, say they will be just as profitable without it. I'm not so sure though.

sst1234

First of all, congratulations on starting a maintaining an entertaining thread. Who needs Netflix.
Second, you are clearly looking for being congratulated on being a cash buyer, so here goes - congratulations on being a cash buyer, you have our utmost respect and attention. (Albeit a cash buyer who is renting but each to their own).
Next, clearly you want to be told that now is a bad time to buy if you are a, what was it, oh yes ‘a cash buyer’. So here it is - please don’t buy yet, wait for the market to come down and then buy. I mean you are a cash buyer after all.
Finally, on your point about what happened to all the cash buyers? Well, that’s not hard to answer - they have been rofl since this thread has been going. I’m sure they’ll be long shortly when they’re done counting their cash before they put in the safe tonight.
One again congratulations on keeping this thread going, great reading. Only a cash buyer could have done that.

System

Any other cash buyers here? The other posters, particularly owners, seem to love cash buyers.

System

I’m a cash buyer and am buying now.

Prices in my region are falling, and may continue to fall.

I’m not waiting, I’m buying. I don’t have a crystal ball so I can wait, do nothing and lose my money renting. I’ll buy now and start the capital clock ticking. If you’re a FTB and plan on living in a house for a good chunk of time - buy. If you do and want to sell one day and still find yourself in negative equity, well, you maybe can’t move, but at least you’re not still renting.

Prices will rise.....over time

System

ritfor wrote: »

I’m a cash buyer and am buying now.

Prices in my region are falling, and may continue to fall.

I’m not waiting, I’m buying. I don’t have a crystal ball so I can wait, do nothing and lose my money renting. I’ll buy now and start the capital clock ticking. If you’re a FTB and plan on living in a house for a good chunk of time - buy. If you do and want to sell one day and still find yourself in negative equity, well, you maybe can’t move, but at least you’re not still renting.

Prices will rise.....over time

What region is it? And what kind of property have you bought/are buying? On your other thread you are talking about your mortgage broker and letting the property out. Is he giving you the cash?

jimmyjammy001

It is pritty dire at the moment in the property world, banks are now offering 100% mortgages, the government has done its bit with the help to buy scams, the BOE with virtually zero interest on borrowing and now the mortgage companys at it, what next? Will all come tumbling down eventually imo, it simply is not sustainable.

System

jimmyjammy001 wrote: »

It is pritty dire at the moment in the property world, banks are now offering 100% mortgages, the government has done its bit with the help to buy scams, the BOE with virtually zero interest on borrowing and now the mortgage companys at it, what next? Will all come tumbling down eventually imo, it simply is not sustainable.

My biggest worry is how the BoE will fight the next recession, when it cannot cut interest rates. Historically, it has taken rate cuts of about 4-5% to fight off recessions. The BoE now has less than 1.5% left in its arsenal to cut in this next recession, which, to add insult to injury, is likely to be the first ever globally synchronised recession. It's all very scary stuff.

Jmaho

Why are you worried? You don't own a property! You are a cash buyer but not buying because we're all mugs and you're going to snap up your dream home at a rock bottom price as soon as the market crashes. Just like you predicted. So why are you worried and why is it scary?
Oh and you're one of only very few cash buyers out there don't forget. Happy days I recall you saying just a few posts ago?