Fearful buyers - what is the source of your fear?

lisyloo

triathlon wrote: »

And how long are you willing to wait, how long are you going to put a hold on your life, how long are you going to give into fear?, 2, 5, 10 years or longer. That tactic is not for me, I would not of wasted one minute trying to gamble the housing market at the expense of a great family life.

Crash trolls some of whom seem to be on the verge of mental illness do not have great family lives.

phillw

Diocletian_II wrote: »

Owning an overpriced substandard property would be a very scary nightmare.

Negative equity isn't particularly nice if you want to move & nobody likes finding out they paid over the odds at the time (which is different to the price dropping after you bought it). But actually owning a property shouldn't be scary.

I was forced to give up waiting in 2006 & I regret ever waiting.

movilogo

Buyers are never fearful, they are realistic. It is the sellers who are always greedy

Arklight

Buying a house is scary because it's designed to be a massive financial mill stone around your neck for most of the prime years of your life. A mill stone that you can't do without, that will ensure you'll keep your nose clean, go to work every day, and service the wheels of capitalism without complaining, no matter how much they roll over you.

if shelter were affordable you might do things like challenge your boss, demand more rights, join a pro-active union, or just quit your job if you weren't treated well. And society can't have that. Oh no, so your fear at saddling yourself with decades of debt comes from the rational understanding that something is wrong, which it is.

But don't worry, because in 40 years time you will have tonnes of lovely equity, to give to a privately run old peoples' home run by the children of the people you are borrowing the money from now.

phillw

Arklight wrote: »

Buying a house is scary because it's designed to be a massive financial mill stone around your neck for most of the prime years of your life.

It's not particularly designed. It's capitalism.

I find it quite funny how everyone seems to want communism when it comes to housing, but nothing else.

Arklight

phillw wrote: »

It's not particularly designed. It's capitalism.

I find it quite funny how everyone seems to want communism when it comes to housing, but nothing else.

I don't think many of the users here want communism for housing. Unless it's the kind of communism where about 17 people appropriate all the wealth for themselves and make the peasants work themselves to death for a potato while blaming themselves for not being better citizens,

They'd probably quite like that.

Otherwise, (adequate) housing is artificially expensive for a reason. And it isn't because roughly the last 1000 years worth of rulers haven't managed to figure out that it's possible to not have a shortage of it.

phillw

Arklight wrote: »

Otherwise, (adequate) housing is artificially expensive for a reason.

Is it? I thought land, materials and labour cost money.

Arklight

phillw wrote: »

Is it? I thought land, materials and labour cost money.

Unless you are reclaiming it from the sea, land doesn't cost money.

triathlon

Diocletian_II wrote: »

I'm fearful about buying now because of the falling prices in the south, missing out on better prices down the road, or buying somewhere that may be difficult to re-sell if needs be without suffering a loss.

I'm interested to know what the source of other fearful buyers' fear is? Perhaps Brexit predictions? Or keeping up mortgage repayments in a recession?

Good luck with that plan. But when will you decide to stop putting your life on hold and buy, 1 year, 5 , 10 or even longer?. There is always a slight chance the prices might correct little, it was the case when I got my first home. But even if they had I would not of traded a minute of my life in my own cosy home on the outside chance I might save a few quid.

Find the home you want and live in it, don't be one of these idiots that wait anything up to two decades in the hope of playing the property market and who are still waiting. And if you also want guarantees that prices will not fall tomorrow then that is just not going to happen, so what do you do now, live in rented, a bedsit, find that no partner will ever want to live with you, people will look down on you as 2nd class, and yes they will and do.

Don't worry about a little negative equity on a family home, but in the future and if you start buying investment houses, now that's a different story.

lisyloo

Arklight wrote: »

p
But don't worry, because in 40 years time you will have tonnes of lovely equity, to give to a privately run old peoples' home run by the children of the people you are borrowing the money from now.

Which will be significantly better than the local authority provision commonly nicknamed overmydeadbody grove.
I’ve been to these places and you’ll be sat in faeces and urine maybe cold without a blanket and with your dressings hanging off (this is all true from visits to 20 homes undertaken in 2017).

This thread and hpc are for losers, not a place I want to hang out.
I don’t think I’m superior but I’d prefer to surround myself with attractive successful people.