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Another what to offer (splitting up couple!)
Comments
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HeadInSand wrote: »He seems to be aware of cyclic markets and the obvious impending recession/credit crunch/house price massacre.
We are all screwed.
Fortune favours the bold. This was all mentioned in 2005.
Too many variables on the house he is looking at to make such an accurate judgement
Why are you so sure there is going to be a downturn in the housing market?0 -
How do you know for sure?
The benfits of hindsight.Do you know his situation? What makes you so all knowing what the market is going to do for the property that he is going to buy? Have you seen it?
Everyone with any common sense knows this situation. Land is land... simple rules apply. Unless you think he is going to strike oil next week? There is a globally accepted land price cycle. Do you not know this?You presume too much me thinks
Put your money where your mouth is.
£20 says house prices are lower in 6 months time.
Those that do not learn from their mistakes are doomed to repeat them.
That said, another £20 says house prices are lower in 6 months time.Bankruptcy isn't the worst that can happen to you. The worst that can happen is your forced to live the rest of your life in abject poverty trying to repay the debts.0 -
How would you know? You've never bought or owned a house, and live in a granny annexe. Most of us don't have the luxury of subsisised rent and trendy anarchist politics.It's best to offer as little as possible so you can benefit most from increasing their misery and pushing them into unmanagable debt.
As a benefit, you'll be buying an overpriced asset at the peak of a bubble and taking on unmanagable debt yourself.
So hugs all round, you're all f*cked.
http://www.housepricecrash.co.uk/forum/index.php?showtopic=49031
But then you are a liar and a grass, whose website encourages others to break the law.May I call on you to vet any advice that will be given on squatnow.com???
Some things are obviously illeagle, but it would be nice to get a little clarification on the blurry bits...!
Hypocrite.Been away for a while.0 -
I suggest you go visit. www.moneyweek.co.uk and read their numerous articles on UK housing. Their belief is that UK housing is toxic, that no one should consider buying for at least a year and that, in their opinion, UK house prices are going to fall by 40 to 50 percent, perhaps more.
About 2 years ago, when no one else was, Moneyweek was warning about Northern Rock and about 3 years ago their began warning about subprime and the various CDOs and SIVs that banks were using to off-load subprime mortgages from their books.
In other words, they have not only been proved to be spot on but were warning of the dangers when everyone else was rubbishing them. IMPO if they say that house prices in the UK are going to fall by 50% then I have little reason to doubt them.
Moneyweek says that the UK population has not even begun to get its head around the credit crunch and the fact that the banks have, more or less overnight, gone back to the lending practices of 20 to 30 years ago. It is now very hard to get a loan be it for a house, a car or just about anything. This lack of credit is going to result in house prices falling as people simply will no longer be able to get ridiculous mortgages for over-priced property.
Personally, I think anyone buying a house now would be mad! That is just my personal opinion and I am not a financial expert.This is not financial nor legal nor property advice. Consult a paid professional if in doubt.0 -
The OP did not ask your opinion on the current housing market. Some of us need to buy a house, regardless of current market conditions. Perhaps you should read this link:I suggest you go visit. www.moneyweek.co.uk and read their numerous articles on UK housing. Their belief is that UK housing is toxic, that no one should consider buying for at least a year and that, in their opinion, UK house prices are going to fall by 40 to 50 percent, perhaps more.
About 2 years ago, when no one else was, Moneyweek was warning about Northern Rock and about 3 years ago their began warning about subprime and the various CDOs and SIVs that banks were using to off-load subprime mortgages from their books.
In other words, they have not only been proved to be spot on but were warning of the dangers when everyone else was rubbishing them. IMPO if they say that house prices in the UK are going to fall by 50% then I have little reason to doubt them.
Moneyweek says that the UK population has not even begun to get its head around the credit crunch and the fact that the banks have, more or less overnight, gone back to the lending practices of 20 to 30 years ago. It is now very hard to get a loan be it for a house, a car or just about anything. This lack of credit is going to result in house prices falling as people simply will no longer be able to get ridiculous mortgages for over-priced property.
Personally, I think anyone buying a house now would be mad! That is just my personal opinion and I am not a financial expert.
http://forums.moneysavingexpert.com/showthread.html?t=577151
Also when people ask a simple question about buying, if members can refrain from posting that they are wasting there money as a housing crash is coming that would be appreciated. People ask for advice on their particular problem, and having some users continually state that they are stupid and doom is coming is not helpful at all to the boards.
Calling someone mad who asks for help on an offer is hardly helpful, but at least you admit you are no expert on the subject!Been away for a while.0 -
Obviously some past history on this thread between posters but I certainly wouldn't take on the bet-house prices WILL be lower in 6 months-the only question is -by how much.
Anyone buying now IS taking a risk-and assuming that long term this will just be a blip and not anything more. Frankly I wouldn't even consider selling my house and buying at this point as I'm not convinced it won't be a huge crash.
I do agree the credit crunch is going to get a lot worse and the market has not felt the impact yet.I Would Rather Climb A Mountain Than Crawl Into A Hole
MSE Florida wedding .....no problem0 -
That may or may not be the case, but it is not what the OP asked for help with.Obviously some past history on this thread between posters but I certainly wouldn't take on the bet-house prices WILL be lower in 6 months-the only question is -by how much.
Anyone buying now IS taking a risk-and assuming that long term this will just be a blip and not anything more. Frankly I wouldn't even consider selling my house and buying at this point as I'm not convinced it won't be a huge crash.
I do agree the credit crunch is going to get a lot worse and the market has not felt the impact yet.Been away for a while.0 -
Anyway, back to the cottage. it isnt perfect, runs on economy 7, doesnt have heating upstairs and the garden gete limited sunlight, but... it ticks all the other boxes, village life, quality neighbours etc etc and is lovely inside.
However, something did work to my advantage. the house featured in Ideal Home magazine in Sept last year and the article was about the owner having bought the house for 165k, spent 3k doing it up etc etc
the mag said the property was now worth (sept 07) £185,000 when it was on the market for 210k down from 230k, so i offered 190k.
the EA range the mrs and then left me a message to say she has to call each party (they are splitting) and make the offer. assume i guess that by calling the second party (who wasnt avail) the first may have agreed.
with regards to a property crash, of you are in the market and not borrowing oodles more, we can ride it out.FTB's should think carefully,0 -
Running_Horse wrote: »Some of us need to buy a house, regardless of current market conditions.
I have been puzzling over this comment for the last half hour.
I cannot think of a single reason why anyone needs to buy a house. In the current market conditions renting is a far better choice because
It's cheaper
It's more flexible
If your home goes down in value it doesn't matter to you
There is every chance that the house you want to buy will be a lot cheaper in a few years time. Everybody knows that to buy now is to buy at the top of the market.
So just why does anyone need to buy a house?0
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