Buy a house or sit on the money?

RelievedSheff

"Hello Forumites! In order to help keep the Forum a useful, safe and friendly place for our users, discussions around non-MoneySaving matters are not permitted per the Forum rules. While we understand that mentioning house prices may sometimes be relevant to a user's specific MoneySaving situation, we ask that you please avoid veering into broad, general debates about the market, the economy and politics, as these can unfortunately lead to abusive or hateful behaviour. Threads that are found to have derailed into wider discussions may be removed. Thank you for your understanding"

EssexHebridean

Yellowsub2000 said:

Average house prices are falling £1000 per week.
<snip>

A source for that confident statement, please? Sorry - I'll edit that to say a factual source rather than opinion)

Sunsaru

EssexHebridean said:

Yellowsub2000 said:

Average house prices are falling £1000 per week.
<snip>

A source for that confident statement, please? 

I can tell you the source.

www.hp..........

Schwarzwald

Yellowsub2000 said:

Average house prices are falling £1000 per week.

Many think property will continue to crash by average £50k per year for next few years.

But at the same time sitting on the currency is not a good idea because inflation is eating away at it.

Better to buy silver or something to protect against inflation and then wait for the housing crash to bottom out

Total nonsense post across various aspects

[Deleted User]

If you don't need the house to live in, there's a shortage so best to bank the money.

mi-key

RelievedSheff said:

"Hello Forumites! In order to help keep the Forum a useful, safe and friendly place for our users, discussions around non-MoneySaving matters are not permitted per the Forum rules. While we understand that mentioning house prices may sometimes be relevant to a user's specific MoneySaving situation, we ask that you please avoid veering into broad, general debates about the market, the economy and politics, as these can unfortunately lead to abusive or hateful behaviour. Threads that are found to have derailed into wider discussions may be removed. Thank you for your understanding"

Crashy will always come back with a new sock account and keep repeating the same rubbish though. 50% drop in prices !!! haha

MFWannabe

gazfocus said:

MFWannabe said:

If you are currently renting why not buy somewhere to live in the area you currently rent in? 

Unfortunately, we can’t afford to buy a big enough house where we currently live (at least without a mortgage), and would be subject to high interest rates due to my wife’s poor credit. 

How much would mortgage payments be compared to rent? 

May be higher interest rates but may still be worth it and you’d have your own property you’re paying off 
Also depends how long it will be until you can get better rates 

jimbog

Yellowsub2000 said:

Moving house with Charlie on YouTube is the source 

he is often on bbc and other places.

yes we are at the top at the moment but there is a delay on reported figures so in fact the crash has started £1000 per week.


yes £50k year crash for a few years anywhere between 35% - 50% before bottom

have just read your other posts

mi-key

Yellowsub2000 said:

Moving house with Charlie on YouTube is the source 

he is often on bbc and other places.

yes we are at the top at the moment but there is a delay on reported figures so in fact the crash has started £1000 per week.


yes £50k year crash for a few years anywhere between 35% - 50% before bottom

I am quite interested in how you come up with such exact figures, and what value properties you have got this information from ? 

Losing £52K in a year from a £1 million property is nothing. Are you also suggesting that houses that cost £100K now are going to be worth £48K in a year, and if this goes on for a few years, then it will actually have a negative value and the seller will have to pay you to take it off their hands?  Or do you mean the £1 million house will be worth £500K - £650K ? How does losing £1K a week tally with being worth 35% less in a few years? 

You don't seem to have a basic understanding of how maths works which doesn't give me much faith in your calculations.

GDB2222

The average house price is around £300k, and it’s quite possible that that has dropped £1k a week during the winter. That would work out at around 5%, which is broadly in line with figures from the Halifax.