Is it a good time to buy a house and fix the interest rate for as long as you can?

SpiderLegs

Crashy_Time said:

SpiderLegs said:

Crashy_Time said:

SpiderLegs said:

Crashy_Time said:

RelievedSheff said:

Crashy_Time said:

SpiderLegs said:

It’s amazing how some posters are almost in uproar about other people spending money when the cost of borrowing is so low.

Oh for the good old days when we had richer people creaming the interest on their savings and poorer people buying nothing or spending more of what little they had on financing costs.

And the cost of property is so high, with really only one direction for the cost of borrowing to go? Obviously the more switched on posters can see the potential pitfalls.

So what is your prediction for house prices and interest rates in 2022?

Interest rates could rise faster than at first thought, and this will put pressure on house prices while less generous furlough (if any) and economic uncertainty plus potential lockdowns and travel restrictions will put pressure on the AirBnB and BTL sectors.

Sounds all a bit non-committal crashy. Any chance we can have a simple ‘Up’ or ‘Down’?

I’m going for down. 

Asking prices down.

Well that sort of means nothing but it’s better than usual so i guess we have to be grateful for small mercies.

It means seller sentiment is being modified by reality.

It means you’ve predicted something that’s been happening for months. Surely you’ve got 37 separate links from EA today or mumsnet to refer back to.

Crashy_Time

SpiderLegs said:

Crashy_Time said:

SpiderLegs said:

Crashy_Time said:

SpiderLegs said:

Crashy_Time said:

RelievedSheff said:

Crashy_Time said:

SpiderLegs said:

It’s amazing how some posters are almost in uproar about other people spending money when the cost of borrowing is so low.

Oh for the good old days when we had richer people creaming the interest on their savings and poorer people buying nothing or spending more of what little they had on financing costs.

And the cost of property is so high, with really only one direction for the cost of borrowing to go? Obviously the more switched on posters can see the potential pitfalls.

So what is your prediction for house prices and interest rates in 2022?

Interest rates could rise faster than at first thought, and this will put pressure on house prices while less generous furlough (if any) and economic uncertainty plus potential lockdowns and travel restrictions will put pressure on the AirBnB and BTL sectors.

Sounds all a bit non-committal crashy. Any chance we can have a simple ‘Up’ or ‘Down’?

I’m going for down. 

Asking prices down.

Well that sort of means nothing but it’s better than usual so i guess we have to be grateful for small mercies.

It means seller sentiment is being modified by reality.

It means you’ve predicted something that’s been happening for months. Surely you’ve got 37 separate links from EA today or mumsnet to refer back to.

Neither are great guides to economic reality IMO, I`m saying it will be happening more in the coming months.

RelievedSheff

It's definitely all doom and gloom now. 

The BOE have put up their interest rate to 0.25%.

We are all doomed 

Crashy_Time

It is the subsequent hikes you have to worry about (if you borrowed too much for basic shelter) 

Crashy_Time

lookstraightahead said:

SpiderLegs said:

lookstraightahead said:

SpiderLegs said:

lookstraightahead said:

To be fair, crashy's prediction is as valid as anyone else's, anything could happen. We're not in 'usual' times. 

We can make an assessment on crashy’s predictions when he actually decides to make one.
As for the idea that everyone’s predictions are equally valid, well that’s just nonsense.

So is yours opinion valid, or nonsense? Just wondering who decides ....

I predict that all houses will cost 50p in February.

About as silly ad people offering over asking 🤣

Especially now.

980233

Crashy_Time said:

It is the subsequent hikes you have to worry about (if you borrowed too much for basic shelter) 

Even if you're fixed for 2, 5 or 10 years?

propertyhunter

Regarding all the discussion about house prices - I have a habit of buying at the top of the market, selling during downturns and being off the ladder during booms. 

Forget RPI, forget interest rates, forget all other accepted economic metrics - the truest barometer of an upcoming house price crash in the UK is when I complete on my next house.

lookstraightahead

propertyhunter said:

Regarding all the discussion about house prices - I have a habit of buying at the top of the market, selling during downturns and being off the ladder during booms. 

Forget RPI, forget interest rates, forget all other accepted economic metrics - the truest barometer of an upcoming house price crash in the UK is when I complete on my next house.

😂😂 the world would be boring if we were all the same 

davemorton

propertyhunter said:

Regarding all the discussion about house prices - I have a habit of buying at the top of the market, selling during downturns and being off the ladder during booms. 

Forget RPI, forget interest rates, forget all other accepted economic metrics - the truest barometer of an upcoming house price crash in the UK is when I complete on my next house.

Oooo, I think I must be your twin then 

RelievedSheff

propertyhunter said:

Regarding all the discussion about house prices - I have a habit of buying at the top of the market, selling during downturns and being off the ladder during booms. 

Forget RPI, forget interest rates, forget all other accepted economic metrics - the truest barometer of an upcoming house price crash in the UK is when I complete on my next house.

 

We are similar.

So a crash must be 2.5 years later this time............