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Is now really a bad time to buy?
Comments
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Parking_Eyerate said:Crashy_Time said:Parking_Eyerate said:Crashy_Time said:RelievedSheff said:Crashy_Time said:MobileSaver said:Crashy_Time said:RelievedSheff said:Where do you get yours from because it is at complete odds with what everyone else is seeing?It's strange you didn't want to comment on this BBC news article, is that because it undermines your BTL end of the world euphoria?
If they are not empty and are rented out then surely the current tenants will have to find another property once the property owner returns to the UK?
Your 'points' are essentially just far-reaching conjecture. Up until last year the Polish economy grew steadily for 28 years, a better record than France or Germany, yet overall there was nevertheless still quite significant emigration. To me this suggests that trends are difficult to predict and so please do tell how you know what the pattern of migration will look like for multiple populations as a consequence of coronavirus. I don't have any idea what proportion of what nationalities own versus rent, for example, or what proportion of overseas nationals may choose to stay or what the extent and length of coronavirus impact on different countries' economies will be, and so I wouldn't be tempted to make the assertions that you dream up. Strangely, however, the little question of evidence seems to be quite irrelevant to you.Crashy_Time said:TonyMMM said:Nationwide are raising minimum deposit to 15% for FTB ....says something about where they think house prices are headed.
https://www.theguardian.com/business/2020/jun/17/nationwide-triples-minimum-deposit-for-uk-first-time-buyers
However that's just yet another attempt at a misdirection because, unless I have underestimated your comprehension skills, you should have been able to realise that that's not the point I was making. To reiterate for you, what is pure and far-reaching conjecture is the concept that there will definitely be such a trend that is so extensive that it is able to overpower all counter-pressures to cause your 'guaranteed' and long-desired market "flooding" of buy to let and Airbnb properties.
For clarity my point was that a lot of younger people from EE will probably be better off sitting out a pandemic, end of FOM and rising unemployment in their own country if they have family there rather than trying to pay a UK landlord with benefits they may even no longer be entitled to after the year ends.0 -
onetimeatponycamp said:Miranda25 said:onetimeatponycamp said:Miranda25 said:TonyMMM said:Nationwide are raising minimum deposit to 15% for FTB ....says something about where they think house prices are headed.
https://www.theguardian.com/business/2020/jun/17/nationwide-triples-minimum-deposit-for-uk-first-time-buyers
https://www.helptobuy.gov.uk/
On the other hand though, HTB prices are inflated, so I guess in that sense higher risk? I was going to buy HTB, when I felt reasonably confident that prices could at least remain the same, if not go higher - I accepted that I was over-paying at the start, but felt that the loan would still allow me to build enough equity to make it all worthwhile. However now I feel it's too much of a risk.
Also read this threat:Using Help to Buy Equity Loan to hedge the potential price crash?
It might be helpful to you?
Anyway, I have done a LOT of research and thinking about the scheme, am confident I am aware of the pros and cons, and have made a decision that is personal to me. From reading your posts it doesn't seem like you know that much about the scheme so I was trying to help, but if that doesn't fit with what you want the answer to be then no problem, I wish you well.
I cannot afford to buy in London without help-to-buy scheme. But I can rent 1-2 years more and save more money for deposit. I only know that I don't want a flat in awful condition as I want to live there straight away without spending a huge amount of money on refurbishment. So ideally it would be properties which are 2-3 years old (slightly cheaper than new ones). But these properties will be on HTB shared ownership not on HTB equity loan and I still have to pay an element of rent, correct?
Not sure what would be better: these properties on resale or new ones?
But you are right, everybody's situation is different and everybody decides what is better for him.0 -
Crashy_Time said:Parking_Eyerate said:Crashy_Time said:Parking_Eyerate said:Crashy_Time said:RelievedSheff said:Crashy_Time said:MobileSaver said:Crashy_Time said:RelievedSheff said:Where do you get yours from because it is at complete odds with what everyone else is seeing?It's strange you didn't want to comment on this BBC news article, is that because it undermines your BTL end of the world euphoria?
If they are not empty and are rented out then surely the current tenants will have to find another property once the property owner returns to the UK?
Your 'points' are essentially just far-reaching conjecture. Up until last year the Polish economy grew steadily for 28 years, a better record than France or Germany, yet overall there was nevertheless still quite significant emigration. To me this suggests that trends are difficult to predict and so please do tell how you know what the pattern of migration will look like for multiple populations as a consequence of coronavirus. I don't have any idea what proportion of what nationalities own versus rent, for example, or what proportion of overseas nationals may choose to stay or what the extent and length of coronavirus impact on different countries' economies will be, and so I wouldn't be tempted to make the assertions that you dream up. Strangely, however, the little question of evidence seems to be quite irrelevant to you.Crashy_Time said:TonyMMM said:Nationwide are raising minimum deposit to 15% for FTB ....says something about where they think house prices are headed.
https://www.theguardian.com/business/2020/jun/17/nationwide-triples-minimum-deposit-for-uk-first-time-buyers
However that's just yet another attempt at a misdirection because, unless I have underestimated your comprehension skills, you should have been able to realise that that's not the point I was making. To reiterate for you, what is pure and far-reaching conjecture is the concept that there will definitely be such a trend that is so extensive that it is able to overpower all counter-pressures to cause your 'guaranteed' and long-desired market "flooding" of buy to let and Airbnb properties.
For clarity my point was that a lot of younger people from EE will probably be better off sitting out a pandemic, end of FOM and rising unemployment in their own country if they have family there rather than trying to pay a UK landlord with benefits they may even no longer be entitled to after the year ends.0 -
Ozzuk said:I've been reading this thread with interest, and what has become clear is Crashy's modus operandi. Any bad event over the last 5-7 years will see an increase in their posting level, promoting the absolute worst case as fact. Other posters will then provide rational responses which Crashy will then ignore 90% of, picking up one statement that they think they can challenge in an attempt to divert the point with an ever meandering response. This will be interpersed with an article with a shock headline that often they haven't actually read. This will be followed by new accounts supporting his position.
Everyone is entitled to their opinion but this really is just agenda driven scaremongering. I actually agree with some aspects - this is a time to be careful about over leveraging to buy property - but being chicken little everytime something bad happens is getting old and detracts from your points.
I think what is clear at the moment is everyone's situation is different and each person should consider their own attitude to risk, and likelyhood of certain scenarios happening (redundancy, house price drop/increase etc). The current disaster could be a wake up call for many people who live a life based on credit, and you'd hope we'll see more shoring up of assets. And there will be winners and losers - sadly a lot of people are losing their jobs/homes, relationships breaking, there are also a lot of people for whom the opposite is true - a lot of money is being made on the stock markets right now with clever (if risky) investment.
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Crashy_Time said:Ozzuk said:I've been reading this thread with interest, and what has become clear is Crashy's modus operandi. Any bad event over the last 5-7 years will see an increase in their posting level, promoting the absolute worst case as fact. Other posters will then provide rational responses which Crashy will then ignore 90% of, picking up one statement that they think they can challenge in an attempt to divert the point with an ever meandering response. This will be interpersed with an article with a shock headline that often they haven't actually read. This will be followed by new accounts supporting his position.
Everyone is entitled to their opinion but this really is just agenda driven scaremongering. I actually agree with some aspects - this is a time to be careful about over leveraging to buy property - but being chicken little everytime something bad happens is getting old and detracts from your points.
I think what is clear at the moment is everyone's situation is different and each person should consider their own attitude to risk, and likelyhood of certain scenarios happening (redundancy, house price drop/increase etc). The current disaster could be a wake up call for many people who live a life based on credit, and you'd hope we'll see more shoring up of assets. And there will be winners and losers - sadly a lot of people are losing their jobs/homes, relationships breaking, there are also a lot of people for whom the opposite is true - a lot of money is being made on the stock markets right now with clever (if risky) investment.
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Crashy_Time said:Parking_Eyerate said:Crashy_Time said:Parking_Eyerate said:Crashy_Time said:RelievedSheff said:Crashy_Time said:MobileSaver said:Crashy_Time said:RelievedSheff said:Where do you get yours from because it is at complete odds with what everyone else is seeing?It's strange you didn't want to comment on this BBC news article, is that because it undermines your BTL end of the world euphoria?
If they are not empty and are rented out then surely the current tenants will have to find another property once the property owner returns to the UK?
Your 'points' are essentially just far-reaching conjecture. Up until last year the Polish economy grew steadily for 28 years, a better record than France or Germany, yet overall there was nevertheless still quite significant emigration. To me this suggests that trends are difficult to predict and so please do tell how you know what the pattern of migration will look like for multiple populations as a consequence of coronavirus. I don't have any idea what proportion of what nationalities own versus rent, for example, or what proportion of overseas nationals may choose to stay or what the extent and length of coronavirus impact on different countries' economies will be, and so I wouldn't be tempted to make the assertions that you dream up. Strangely, however, the little question of evidence seems to be quite irrelevant to you.Crashy_Time said:TonyMMM said:Nationwide are raising minimum deposit to 15% for FTB ....says something about where they think house prices are headed.
https://www.theguardian.com/business/2020/jun/17/nationwide-triples-minimum-deposit-for-uk-first-time-buyers
However that's just yet another attempt at a misdirection because, unless I have underestimated your comprehension skills, you should have been able to realise that that's not the point I was making. To reiterate for you, what is pure and far-reaching conjecture is the concept that there will definitely be such a trend that is so extensive that it is able to overpower all counter-pressures to cause your 'guaranteed' and long-desired market "flooding" of buy to let and Airbnb properties.
For clarity my point was that a lot of younger people from EE will probably be better off sitting out a pandemic, end of FOM and rising unemployment in their own country if they have family there rather than trying to pay a UK landlord with benefits they may even no longer be entitled to after the year ends.
This from the person that gave innumerable unsupported definitions for his "standard" definition of wealth. The irony is quite remarkable but if you want to try and console yourself by saying that I don't know what I am talking about, when I can't see that anything I have said requires specialist knowledge (and, unlike some, nor do I claim to know what's going to happen), then go ahead! I really don't care what you say about me.
"For clarity my point was that a lot of younger people from EE will probably be better off sitting out a pandemic, end of FOM and rising unemployment in their own country if they have family there rather than trying to pay a UK landlord with benefits they may even no longer be entitled to after the year ends."
Well, I don't think that's what you actually said. Nevertheless, that's still just conjecture unless you claim to have reliable data on how the coronavirus aftermath will differnentially affect different economies. As I mentioned before, the Polish economy grew steadily for 28 years in a row, which I think was extremely impressive, yet during that time there was still significant emigration. Moreover, I personally have no idea what benefits EU nationals will be entitled to next year, what their average age is, whether they have families here, how many will choose to remain or how many will apply for citizenship. Do you know all this information? (As an aside, and as another poster pointed out, please also note that people born elsewhere may also now think of the UK as their 'own country' and so might simply prefer to remain, something they are perfectly entitled and welcome to do, whatever your mentality on this point is.)
Moreover, it is still notable that none of this addresses how you claim to know that emigration is definitely going to happen to an extent necessary to override all opposing factors and give you your longed-for flood of buy to let and AirBnB properties. Or is that something you are conveniently trying to avoid addressing now?
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Wkmg said:Crashy_Time said:Parking_Eyerate said:Crashy_Time said:Parking_Eyerate said:Crashy_Time said:RelievedSheff said:Crashy_Time said:MobileSaver said:Crashy_Time said:RelievedSheff said:Where do you get yours from because it is at complete odds with what everyone else is seeing?It's strange you didn't want to comment on this BBC news article, is that because it undermines your BTL end of the world euphoria?
If they are not empty and are rented out then surely the current tenants will have to find another property once the property owner returns to the UK?
Your 'points' are essentially just far-reaching conjecture. Up until last year the Polish economy grew steadily for 28 years, a better record than France or Germany, yet overall there was nevertheless still quite significant emigration. To me this suggests that trends are difficult to predict and so please do tell how you know what the pattern of migration will look like for multiple populations as a consequence of coronavirus. I don't have any idea what proportion of what nationalities own versus rent, for example, or what proportion of overseas nationals may choose to stay or what the extent and length of coronavirus impact on different countries' economies will be, and so I wouldn't be tempted to make the assertions that you dream up. Strangely, however, the little question of evidence seems to be quite irrelevant to you.Crashy_Time said:TonyMMM said:Nationwide are raising minimum deposit to 15% for FTB ....says something about where they think house prices are headed.
https://www.theguardian.com/business/2020/jun/17/nationwide-triples-minimum-deposit-for-uk-first-time-buyers
However that's just yet another attempt at a misdirection because, unless I have underestimated your comprehension skills, you should have been able to realise that that's not the point I was making. To reiterate for you, what is pure and far-reaching conjecture is the concept that there will definitely be such a trend that is so extensive that it is able to overpower all counter-pressures to cause your 'guaranteed' and long-desired market "flooding" of buy to let and Airbnb properties.
For clarity my point was that a lot of younger people from EE will probably be better off sitting out a pandemic, end of FOM and rising unemployment in their own country if they have family there rather than trying to pay a UK landlord with benefits they may even no longer be entitled to after the year ends.0 -
Crashy_Time said:Wkmg said:Crashy_Time said:Parking_Eyerate said:Crashy_Time said:Parking_Eyerate said:Crashy_Time said:RelievedSheff said:Crashy_Time said:MobileSaver said:Crashy_Time said:RelievedSheff said:Where do you get yours from because it is at complete odds with what everyone else is seeing?It's strange you didn't want to comment on this BBC news article, is that because it undermines your BTL end of the world euphoria?
If they are not empty and are rented out then surely the current tenants will have to find another property once the property owner returns to the UK?
Your 'points' are essentially just far-reaching conjecture. Up until last year the Polish economy grew steadily for 28 years, a better record than France or Germany, yet overall there was nevertheless still quite significant emigration. To me this suggests that trends are difficult to predict and so please do tell how you know what the pattern of migration will look like for multiple populations as a consequence of coronavirus. I don't have any idea what proportion of what nationalities own versus rent, for example, or what proportion of overseas nationals may choose to stay or what the extent and length of coronavirus impact on different countries' economies will be, and so I wouldn't be tempted to make the assertions that you dream up. Strangely, however, the little question of evidence seems to be quite irrelevant to you.Crashy_Time said:TonyMMM said:Nationwide are raising minimum deposit to 15% for FTB ....says something about where they think house prices are headed.
https://www.theguardian.com/business/2020/jun/17/nationwide-triples-minimum-deposit-for-uk-first-time-buyers
However that's just yet another attempt at a misdirection because, unless I have underestimated your comprehension skills, you should have been able to realise that that's not the point I was making. To reiterate for you, what is pure and far-reaching conjecture is the concept that there will definitely be such a trend that is so extensive that it is able to overpower all counter-pressures to cause your 'guaranteed' and long-desired market "flooding" of buy to let and Airbnb properties.
For clarity my point was that a lot of younger people from EE will probably be better off sitting out a pandemic, end of FOM and rising unemployment in their own country if they have family there rather than trying to pay a UK landlord with benefits they may even no longer be entitled to after the year ends.0 -
Parking_Eyerate said:Crashy_Time said:Parking_Eyerate said:Crashy_Time said:Parking_Eyerate said:Crashy_Time said:RelievedSheff said:Crashy_Time said:MobileSaver said:Crashy_Time said:RelievedSheff said:Where do you get yours from because it is at complete odds with what everyone else is seeing?It's strange you didn't want to comment on this BBC news article, is that because it undermines your BTL end of the world euphoria?
If they are not empty and are rented out then surely the current tenants will have to find another property once the property owner returns to the UK?
Your 'points' are essentially just far-reaching conjecture. Up until last year the Polish economy grew steadily for 28 years, a better record than France or Germany, yet overall there was nevertheless still quite significant emigration. To me this suggests that trends are difficult to predict and so please do tell how you know what the pattern of migration will look like for multiple populations as a consequence of coronavirus. I don't have any idea what proportion of what nationalities own versus rent, for example, or what proportion of overseas nationals may choose to stay or what the extent and length of coronavirus impact on different countries' economies will be, and so I wouldn't be tempted to make the assertions that you dream up. Strangely, however, the little question of evidence seems to be quite irrelevant to you.Crashy_Time said:TonyMMM said:Nationwide are raising minimum deposit to 15% for FTB ....says something about where they think house prices are headed.
https://www.theguardian.com/business/2020/jun/17/nationwide-triples-minimum-deposit-for-uk-first-time-buyers
However that's just yet another attempt at a misdirection because, unless I have underestimated your comprehension skills, you should have been able to realise that that's not the point I was making. To reiterate for you, what is pure and far-reaching conjecture is the concept that there will definitely be such a trend that is so extensive that it is able to overpower all counter-pressures to cause your 'guaranteed' and long-desired market "flooding" of buy to let and Airbnb properties.
For clarity my point was that a lot of younger people from EE will probably be better off sitting out a pandemic, end of FOM and rising unemployment in their own country if they have family there rather than trying to pay a UK landlord with benefits they may even no longer be entitled to after the year ends.
This from the person that gave innumerable unsupported definitions for his "standard" definition of wealth. The irony is quite remarkable but if you want to try and console yourself by saying that I don't know what I am talking about, when I can't see that anything I have said requires specialist knowledge (and, unlike some, nor do I claim to know what's going to happen), then go ahead! I really don't care what you say about me.
"For clarity my point was that a lot of younger people from EE will probably be better off sitting out a pandemic, end of FOM and rising unemployment in their own country if they have family there rather than trying to pay a UK landlord with benefits they may even no longer be entitled to after the year ends."
Well, I don't think that's what you actually said. Nevertheless, that's still just conjecture unless you claim to have reliable data on how the coronavirus aftermath will differnentially affect different economies. As I mentioned before, the Polish economy grew steadily for 28 years in a row, which I think was extremely impressive, yet during that time there was still significant emigration. Moreover, I personally have no idea what benefits EU nationals will be entitled to next year, what their average age is, whether they have families here, how many will choose to remain or how many will apply for citizenship. Do you know all this information? (As an aside, and as another poster pointed out, please also note that people born elsewhere may also now think of the UK as their 'own country' and so might simply prefer to remain, something they are perfectly entitled and welcome to do, whatever your mentality on this point is.)
Moreover, it is still notable that none of this addresses how you claim to know that emigration is definitely going to happen to an extent necessary to override all opposing factors and give you your longed-for flood of buy to let and AirBnB properties. Or is that something you are conveniently trying to avoid addressing now?0 -
Crashy_Time said:Parking_Eyerate said:Crashy_Time said:Parking_Eyerate said:Crashy_Time said:Parking_Eyerate said:Crashy_Time said:RelievedSheff said:Crashy_Time said:MobileSaver said:Crashy_Time said:RelievedSheff said:Where do you get yours from because it is at complete odds with what everyone else is seeing?It's strange you didn't want to comment on this BBC news article, is that because it undermines your BTL end of the world euphoria?
If they are not empty and are rented out then surely the current tenants will have to find another property once the property owner returns to the UK?
Your 'points' are essentially just far-reaching conjecture. Up until last year the Polish economy grew steadily for 28 years, a better record than France or Germany, yet overall there was nevertheless still quite significant emigration. To me this suggests that trends are difficult to predict and so please do tell how you know what the pattern of migration will look like for multiple populations as a consequence of coronavirus. I don't have any idea what proportion of what nationalities own versus rent, for example, or what proportion of overseas nationals may choose to stay or what the extent and length of coronavirus impact on different countries' economies will be, and so I wouldn't be tempted to make the assertions that you dream up. Strangely, however, the little question of evidence seems to be quite irrelevant to you.Crashy_Time said:TonyMMM said:Nationwide are raising minimum deposit to 15% for FTB ....says something about where they think house prices are headed.
https://www.theguardian.com/business/2020/jun/17/nationwide-triples-minimum-deposit-for-uk-first-time-buyers
However that's just yet another attempt at a misdirection because, unless I have underestimated your comprehension skills, you should have been able to realise that that's not the point I was making. To reiterate for you, what is pure and far-reaching conjecture is the concept that there will definitely be such a trend that is so extensive that it is able to overpower all counter-pressures to cause your 'guaranteed' and long-desired market "flooding" of buy to let and Airbnb properties.
For clarity my point was that a lot of younger people from EE will probably be better off sitting out a pandemic, end of FOM and rising unemployment in their own country if they have family there rather than trying to pay a UK landlord with benefits they may even no longer be entitled to after the year ends.
This from the person that gave innumerable unsupported definitions for his "standard" definition of wealth. The irony is quite remarkable but if you want to try and console yourself by saying that I don't know what I am talking about, when I can't see that anything I have said requires specialist knowledge (and, unlike some, nor do I claim to know what's going to happen), then go ahead! I really don't care what you say about me.
"For clarity my point was that a lot of younger people from EE will probably be better off sitting out a pandemic, end of FOM and rising unemployment in their own country if they have family there rather than trying to pay a UK landlord with benefits they may even no longer be entitled to after the year ends."
Well, I don't think that's what you actually said. Nevertheless, that's still just conjecture unless you claim to have reliable data on how the coronavirus aftermath will differnentially affect different economies. As I mentioned before, the Polish economy grew steadily for 28 years in a row, which I think was extremely impressive, yet during that time there was still significant emigration. Moreover, I personally have no idea what benefits EU nationals will be entitled to next year, what their average age is, whether they have families here, how many will choose to remain or how many will apply for citizenship. Do you know all this information? (As an aside, and as another poster pointed out, please also note that people born elsewhere may also now think of the UK as their 'own country' and so might simply prefer to remain, something they are perfectly entitled and welcome to do, whatever your mentality on this point is.)
Moreover, it is still notable that none of this addresses how you claim to know that emigration is definitely going to happen to an extent necessary to override all opposing factors and give you your longed-for flood of buy to let and AirBnB properties. Or is that something you are conveniently trying to avoid addressing now?
Re example opposing factors, I thought this had been covered; changing holiday habits, rental demand reportedly increasing in some areas, banks tightening up on mortgages. If more info is needed it's probably easiest to look at previous posts.
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