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

lookstraightahead

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 🤣

Crashy_Time

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.

SpiderLegs

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. 

RelievedSheff

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. 

I'm going for BOE interest rate to rise to 0.5% by the end of 2022 and house prices to rise on average across the UK by 5%.

So Crashy. Any chance we can have your prediction now?

RelievedSheff

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.

Surely AirBnB will do well if international travel restrictions are still in place 🤔

Crashy_Time

RelievedSheff 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.

Surely AirBnB will do well if international travel restrictions are still in place 🤔

Possibly, possibly not, if things are so bad that there are international travel restrictions why would you risk your health by travelling to an AirBnB? And what about my other two points, economic uncertainty and potential lockdowns, how do you see AirBnB doing well in that scenario?

Crashy_Time

To answer the OP, my opinion is that it is a shockingly bad time to overpay for basic shelter with mortgage debt (even the IMF is telling the BOE to hike, LOL) but if you must buy fix for as long as you can but also be aware that you might lose money in a future sale if rates do rise.

Crashy_Time

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.

SpiderLegs

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.

Crashy_Time

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.