We really can't afford the house we want/need will things get better for us or just forget it?

Crashy_Time

jazzyja said:

Crashy_Time said:

GeordieGeorge said:

Crashy_Time said:

https://www.bbc.co.uk/bbcthree/article/dd1d3768-0450-4b07-99e4-fee8e9fd9895

A LOT of people will celebrate if it crashes, they want things to get better.

How many years is it now since you started renting and waiting for the crash, and how much would your house now be worth if you’d bought back then?

Are you ever going to accept how wrong you’ve been and buy, or have you given up now and accept you’ll rent forever?

The BBC ran the story not me, a LOT of people want it to crash, not just me.

I see you get quite abit of stick on ere, I'm intrigued...are you a "mortgages are for mugs" kinda person? Or are you wanting to buy a house for 50p and a bag of quavers? 

Wonder why...LOL. Hard to paint someone as a crank though when the BBC are running stories on how badly many people want to see a property crash?

Crashy_Time

lisyloo said:

jazzyja said:

Crashy_Time said:

GeordieGeorge said:

Crashy_Time said:

https://www.bbc.co.uk/bbcthree/article/dd1d3768-0450-4b07-99e4-fee8e9fd9895

A LOT of people will celebrate if it crashes, they want things to get better.

How many years is it now since you started renting and waiting for the crash, and how much would your house now be worth if you’d bought back then?

Are you ever going to accept how wrong you’ve been and buy, or have you given up now and accept you’ll rent forever?

The BBC ran the story not me, a LOT of people want it to crash, not just me.

I see you get quite abit of stick on ere, I'm intrigued...are you a "mortgages are for mugs" kinda person? Or are you wanting to buy a house for 50p and a bag of quavers? 

Crashy is a “50% off by Christmas” type, but he’s been waiting a couple of decades.
I (and others of my type) don’t deny there will be fall at some point  - in fact like most people my investments dropped a lot during the pandemic (only to recover). but a lot of us dispute the ability of the ordinary person to time an capitalise on a housing Crash given that it would inevitably be accompanied by mass job losses. The timing is called “trying to catch a falling knife” which refers to the question of how do you know where the bottom is? We recognise that as virtually impossible. If anyone here has that ability they would already be a stock market millionaire and wouldn't be reading.

in the time he’s been saying that I’ve got on with it and bought a lovely home and don’t have to pay any mortgage or rent for the next 40 years. And yes for me prices did go down and at one point to negative equity - but big deal, I carried on working and carried on paying like most people would.

he takes everything I say out of context, but has never given an answer as to why 25 years mortgage vs 70 years rent isn’t a no brainier for most people who can afford it. And yes of course there are issues with properties, crashes and transactional costs. Those of us who think a mortgage is better than renting most of the time are realistic about the risks and issues of property ownership but it’s still a no brainier for most people.

I did rent myself recently but that was for an economically mobile situation and not for a home so I am aware there are exceptions. 

Of course the pandemic has changed things and some people don’t have secure employment, but for those that do (police, healthcare, civil servants) then buying remains a no brainier for reason of taxation, gearing but mainly being able to live in your own asset.

i would welcome things being more equal in our society but hoping for a crash is wishing misery on millions of people who would lose their jobs.

regarding the pandemic, I told crashy a long time ago the government would support our economy which is exactly what they have done. He rubbished what I said at the time. He consistently underestimates the power of the government to prop up the economy in general and the housing market in particular. We faced a unprecedented problem with the pandemic but house prices and the stock market are still doing fine because they’ve had support and Yes Of course it all needs to be paid back, but we’ve done it before for slavery reparations and for 2 world wars.

I rubbished your claim that Covid was a "blip", it is a massively deflationary event. It`s too soon I`m afraid to declare that you were right all along, we need to see what happens when governments start withdrawing support (or do you think they will do furlough/stamp duty holidays forever?) and mortgage rates possibly rise. Your idea that the housing market is "fine" is what puts your viewpoint at the opposite end of the spectrum from that of sensible hard working money savers I`m afraid.

lisyloo

Crashy_Time said:

jazzyja said:l

Crashy_Time said:

GeordieGeorge said:

Crashy_Time said:

https://www.bbc.co.uk/bbcthree/article/dd1d3768-0450-4b07-99e4-fee8e9fd9895

A LOT of people will celebrate if it crashes, they want things to get better.

How many years is it now since you started renting and waiting for the crash, and how much would your house now be worth if you’d bought back then?

Are you ever going to accept how wrong you’ve been and buy, or have you given up now and accept you’ll rent forever?

The BBC ran the story not me, a LOT of people want it to crash, not just me.

I see you get quite abit of stick on ere, I'm intrigued...are you a "mortgages are for mugs" kinda person? Or are you wanting to buy a house for 50p and a bag of quavers? 

Wonder why...LOL. Hard to paint someone as a crank though when the BBC are running stories on how badly many people want to see a property crash?

What relevance do you think the article (about lots of people wanting something) has?
If it was universal and resulted in a buyers strike then I’d agree it had some relevance to market direction but that doesn’t appear to be the case.
the evidence is the those who can will buy and those who can’t will moan.

Can you clarify the relevance for the readers?

Crashy_Time

lisyloo said:

Crashy_Time said:

jazzyja said:l

Crashy_Time said:

GeordieGeorge said:

Crashy_Time said:

https://www.bbc.co.uk/bbcthree/article/dd1d3768-0450-4b07-99e4-fee8e9fd9895

A LOT of people will celebrate if it crashes, they want things to get better.

How many years is it now since you started renting and waiting for the crash, and how much would your house now be worth if you’d bought back then?

Are you ever going to accept how wrong you’ve been and buy, or have you given up now and accept you’ll rent forever?

The BBC ran the story not me, a LOT of people want it to crash, not just me.

I see you get quite abit of stick on ere, I'm intrigued...are you a "mortgages are for mugs" kinda person? Or are you wanting to buy a house for 50p and a bag of quavers? 

Wonder why...LOL. Hard to paint someone as a crank though when the BBC are running stories on how badly many people want to see a property crash?

What relevance do you think the article (about lots of people wanting something) has?
If it was universal and resulted in a buyers strike then I’d agree it had some relevance to market direction but that doesn’t appear to be the case.
the evidence is the those who can will buy and those who can’t will moan.

Can you clarify the relevance for the readers?

I think most readers will be able to figure out the relevance? Two of the most famous property rampers were also calling "bubble" recently as well, interesting times IMO. As I said there was a mini-boom as the tapped out who couldn`t afford stamp duty desperately got themselves into loads of mortgage debt, that isn`t a market it is a mania and trying to portray that as a market doing "fine" just doesn`t give your views much credibility IMO, sorry.

Scotbot

mrsmortgage said:

Can the buyer's solicitor really ask why I'm selling my house? Isn't that a VERY personal question? 

Presumably they didn't ask you they asked your solicitor and you can instruct your solicitor how to answer. I don't think it's that personal but I don't see how it's relevant to the conveyancing. Perhaps they are trying to find out how motivated you are to move.

lisyloo

Crashy_Time said:

lisyloo said:o

jazzyja said:

Crashy_Time said:

GeordieGeorge said:

Crashy_Time said:

https://www.bbc.co.uk/bbcthree/article/dd1d3768-0450-4b07-99e4-fee8e9fd9895

A LOT of people will celebrate if it crashes, they want things to get better.

How many years is it now since you started renting and waiting for the crash, and how much would your house now be worth if you’d bought back then?

Are you ever going to accept how wrong you’ve been and buy, or have you given up now and accept you’ll rent forever?

The BBC ran the story not me, a LOT of people want it to crash, not just me.

I see you get quite abit of stick on ere, I'm intrigued...are you a "mortgages are for mugs" kinda person? Or are you wanting to buy a house for 50p and a bag of quavers? 

Crashy is a “50% off by Christmas” type, but he’s been waiting a couple of decades.
I (and others of my type) don’t deny there will be fall at some point  - in fact like most people my investments dropped a lot during the pandemic (only to recover). but a lot of us dispute the ability of the ordinary person to time an capitalise on a housing Crash given that it would inevitably be accompanied by mass job losses. The timing is called “trying to catch a falling knife” which refers to the question of how do you know where the bottom is? We recognise that as virtually impossible. If anyone here has that ability they would already be a stock market millionaire and wouldn't be reading.

in the time he’s been saying that I’ve got on with it and bought a lovely home and don’t have to pay any mortgage or rent for the next 40 years. And yes for me prices did go down and at one point to negative equity - but big deal, I carried on working and carried on paying like most people would.

he takes everything I say out of context, but has never given an answer as to why 25 years mortgage vs 70 years rent isn’t a no brainier for most people who can afford it. And yes of course there are issues with properties, crashes and transactional costs. Those of us who think a mortgage is better than renting most of the time are realistic about the risks and issues of property ownership but it’s still a no brainier for most people.

I did rent myself recently but that was for an economically mobile situation and not for a home so I am aware there are exceptions. 

Of course the pandemic has changed things and some people don’t have secure employment, but for those that do (police, healthcare, civil servants) then buying remains a no brainier for reason of taxation, gearing but mainly being able to live in your own asset.

i would welcome things being more equal in our society but hoping for a crash is wishing misery on millions of people who would lose their jobs.

regarding the pandemic, I told crashy a long time ago the government would support our economy which is exactly what they have done. He rubbished what I said at the time. He consistently underestimates the power of the government to prop up the economy in general and the housing market in particular. We faced a unprecedented problem with the pandemic but house prices and the stock market are still doing fine because they’ve had support and Yes Of course it all needs to be paid back, but we’ve done it before for slavery reparations and for 2 world wars.

I rubbished your claim that Covid was a "blip", it is a massively deflationary event. It`s too soon I`m afraid to declare that you were right all along, we need to see what happens when governments start withdrawing support (or do you think they will do furlough/stamp duty holidays forever?) and mortgage rates possibly rise. Your idea that the housing market is "fine" is what puts your viewpoint at the opposite end of the spectrum from that of sensible hard working money savers I`m afraid.

It has indeed been a blip in stock markets, the proof is in the charts.

there has been a paradigm shift in people’s housing needs and desires.
it’s not entirely clear yet how many companies will go office/remote or hybrid but I don’t think we’re returning to pre-pandemic days and it’s therefore been an accelerated paradigm shift in how people live their lives. That has resulted in people placing a higher priority on their homes.

of course support will be withdrawn and I fully expect some businesses and jobs to go and for there to be problems with vacancies as we are seeing now. But in general pubs,  restaurants, cafes, airports will return to suit the new post pandemic demand.
it won’t be the same aa pre-pandemic in all sectors but there will be a bounce back - just look at what happened when the green list came out, there was tons of demand.

my view puts me at odds with people who desperately want things to be different.
that’s partly because I no longer have any vested invested and they have a very deeply seated desire and in some cases bitterness.
I do wish things were different but we have to face the reality.

perhaps if we stopped people having multiple homes then more people would be able to have their first one?

mrsmortgage

Scotbot said:

mrsmortgage said:

Can the buyer's solicitor really ask why I'm selling my house? Isn't that a VERY personal question? 

Presumably they didn't ask you they asked your solicitor and you can instruct your solicitor how to answer. I don't think it's that personal but I don't see how it's relevant to the conveyancing. Perhaps they are trying to find out how motivated you are to move.

The solicitor asked the buyer to ask me... My solicitor advised against instructing them until I have a chain. 

So my buyer asked me directly, as we have open communication between us.

Here's the verbatim:

Why are they selling? They only got this property last year. The property has been sold several times, which makes me curious.

I do find it a bit odd but have never sold privately. 

wewilldoit

I usually ask why and have been asked too but I’m guessing as you haven’t been in the house long they might think there is a problem with neighbours etc 

jazzyja

mrsmortgage said:

Scotbot said:

mrsmortgage said:

Can the buyer's solicitor really ask why I'm selling my house? Isn't that a VERY personal question? 

Presumably they didn't ask you they asked your solicitor and you can instruct your solicitor how to answer. I don't think it's that personal but I don't see how it's relevant to the conveyancing. Perhaps they are trying to find out how motivated you are to move.

The solicitor asked the buyer to ask me... My solicitor advised against instructing them until I have a chain. 

So my buyer asked me directly, as we have open communication between us.

Here's the verbatim:

Why are they selling? They only got this property last year. The property has been sold several times, which makes me curious.

I do find it a bit odd but have never sold privately. 

I dont think there's anything wrong with asking. I asked my vendor as they sold last year, turns out old buyer just ghosted them.
I don't know why you think it's not reasonable to ask?  Especially when you haven't lived there long

Crashy_Time

lisyloo said:

Crashy_Time said:

lisyloo said:o

jazzyja said:

Crashy_Time said:

GeordieGeorge said:

Crashy_Time said:

https://www.bbc.co.uk/bbcthree/article/dd1d3768-0450-4b07-99e4-fee8e9fd9895

A LOT of people will celebrate if it crashes, they want things to get better.

How many years is it now since you started renting and waiting for the crash, and how much would your house now be worth if you’d bought back then?

Are you ever going to accept how wrong you’ve been and buy, or have you given up now and accept you’ll rent forever?

The BBC ran the story not me, a LOT of people want it to crash, not just me.

I see you get quite abit of stick on ere, I'm intrigued...are you a "mortgages are for mugs" kinda person? Or are you wanting to buy a house for 50p and a bag of quavers? 

Crashy is a “50% off by Christmas” type, but he’s been waiting a couple of decades.
I (and others of my type) don’t deny there will be fall at some point  - in fact like most people my investments dropped a lot during the pandemic (only to recover). but a lot of us dispute the ability of the ordinary person to time an capitalise on a housing Crash given that it would inevitably be accompanied by mass job losses. The timing is called “trying to catch a falling knife” which refers to the question of how do you know where the bottom is? We recognise that as virtually impossible. If anyone here has that ability they would already be a stock market millionaire and wouldn't be reading.

in the time he’s been saying that I’ve got on with it and bought a lovely home and don’t have to pay any mortgage or rent for the next 40 years. And yes for me prices did go down and at one point to negative equity - but big deal, I carried on working and carried on paying like most people would.

he takes everything I say out of context, but has never given an answer as to why 25 years mortgage vs 70 years rent isn’t a no brainier for most people who can afford it. And yes of course there are issues with properties, crashes and transactional costs. Those of us who think a mortgage is better than renting most of the time are realistic about the risks and issues of property ownership but it’s still a no brainier for most people.

I did rent myself recently but that was for an economically mobile situation and not for a home so I am aware there are exceptions. 

Of course the pandemic has changed things and some people don’t have secure employment, but for those that do (police, healthcare, civil servants) then buying remains a no brainier for reason of taxation, gearing but mainly being able to live in your own asset.

i would welcome things being more equal in our society but hoping for a crash is wishing misery on millions of people who would lose their jobs.

regarding the pandemic, I told crashy a long time ago the government would support our economy which is exactly what they have done. He rubbished what I said at the time. He consistently underestimates the power of the government to prop up the economy in general and the housing market in particular. We faced a unprecedented problem with the pandemic but house prices and the stock market are still doing fine because they’ve had support and Yes Of course it all needs to be paid back, but we’ve done it before for slavery reparations and for 2 world wars.

I rubbished your claim that Covid was a "blip", it is a massively deflationary event. It`s too soon I`m afraid to declare that you were right all along, we need to see what happens when governments start withdrawing support (or do you think they will do furlough/stamp duty holidays forever?) and mortgage rates possibly rise. Your idea that the housing market is "fine" is what puts your viewpoint at the opposite end of the spectrum from that of sensible hard working money savers I`m afraid.

It has indeed been a blip in stock markets, the proof is in the charts.

there has been a paradigm shift in people’s housing needs and desires.
it’s not entirely clear yet how many companies will go office/remote or hybrid but I don’t think we’re returning to pre-pandemic days and it’s therefore been an accelerated paradigm shift in how people live their lives. That has resulted in people placing a higher priority on their homes.

of course support will be withdrawn and I fully expect some businesses and jobs to go and for there to be problems with vacancies as we are seeing now. But in general pubs,  restaurants, cafes, airports will return to suit the new post pandemic demand.
it won’t be the same aa pre-pandemic in all sectors but there will be a bounce back - just look at what happened when the green list came out, there was tons of demand.

my view puts me at odds with people who desperately want things to be different.
that’s partly because I no longer have any vested invested and they have a very deeply seated desire and in some cases bitterness.
I do wish things were different but we have to face the reality.

perhaps if we stopped people having multiple homes then more people would be able to have their first one?

What do you think is driving stock markets?