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There will not be a crash
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Hi All, First time post..... just wanted to add that I am in the process of buying a house atm. Yes, prices are higher then I would like and there is a risk that prices may depreciate or stagnate until wages catch up but thats the way it is.
There are mortgages and credit still out there. Lending criteria may have tightened, but its not hugely difficult to find the right mortgage even with 5% deposits.
I wish you well.
I hope we don't see you on the bankruptcy forum in a couple of years time...
... but I fear we will!0 -
I wish you well.
I hope we don't see you on the bankruptcy forum in a couple of years time...
... but I fear we will!
Why? If someone is buying a house within their means, and it is to live in rather than as an investment, why should it matter whether they pay over the odds or at the top of the market or whatever?0 -
pickles110564 wrote: »There is nothing wrong with living in rented, we have done it. All it does is make you realise that you will do anything to improve the situation that you find yourself in.
Nothing wrong with living in rented full stop - I'm very happy in a rented flat with OH and our son....much enquiry having been made concerning a gentleman, who had quitted a company where Johnson was, and no information being obtained; at last Johnson observed, that 'he did not care to speak ill of any man behind his back, but he believed the gentleman was an attorney'.0 -
The_Dangerman wrote: »Well, people HAVE to live somewhere, that is not optional, there are no substitutes to it. If the price of milk goes through the roof you can switch to toast, or soya. But there is no option but to live in a house.
I don't think that's true. You have to sleep somewhere, of course, but you might live with family / get a smaller place / take lodgers / house share....much enquiry having been made concerning a gentleman, who had quitted a company where Johnson was, and no information being obtained; at last Johnson observed, that 'he did not care to speak ill of any man behind his back, but he believed the gentleman was an attorney'.0 -
I might be being a bit dense, but surely if there is a crash, then as Dangermans says, demand for rented will shoot through the roof?
Yes, but people who had a 2 bed might decide they can put up with a 1 bed, people might stay in a 2 bed rather than upgrade when they have a baby, people stay with family, house share, etc.
In tight times, more people who previously had spare bedrooms decide to take a lodger....much enquiry having been made concerning a gentleman, who had quitted a company where Johnson was, and no information being obtained; at last Johnson observed, that 'he did not care to speak ill of any man behind his back, but he believed the gentleman was an attorney'.0 -
The_Dangerman wrote: »
Besides, my point is that that rent is the very last* thing one would decide not to pay. /quote]
true. But they might very well decide to live with parents, rent a smaller place, etc....much enquiry having been made concerning a gentleman, who had quitted a company where Johnson was, and no information being obtained; at last Johnson observed, that 'he did not care to speak ill of any man behind his back, but he believed the gentleman was an attorney'.0 -
Why? If someone is buying a house within their means, and it is to live in rather than as an investment, why should it matter whether they pay over the odds or at the top of the market or whatever?
Because if they pay £150,000 for a 2-bed flat in a poor area now
when if they waited a few years they could have bought a 3-bed house in a nicer area for the same money
then they will be stuck in a much worse property than they could have had
and may possibly be unable to move (to start a family or get a better job) because of negative equity
understand now? :Apoppy100 -
When this Utopia of cheap houses for everyone finally arrives, bearing in mind we seem to be a nation of wannabe property magnates now faith in pensions is shattered, what is going to stop those prices going sky high again? Demand is going to massively overstrip supply surely and First Time buyers are going to be last in the queue to buy this abundant supply of 3-bed houses in lovely areas unless something is done about multi-property ownership.11th Heaven prizes Number 103
Jan Wins - £15 itunes voucher, Food Processor
1) Holiday 2) Cash 3) Ipad [STRIKE]4) Kitchen gadgets[/STRIKE] 5) New Actifry 6) Garden/House makeover 7) New Bed 8) Multi-region BluRay player 9) Netbook 10) Gig tickets 11) 3D TV0 -
I wish you well.
I hope we don't see you on the bankruptcy forum in a couple of years time...
... but I fear we will!
Thank you for wishing me well.
We as a couple are purchasing this house and we will still have plenty of room to save money so we aren't over stretching ourselves. Although I would agree that this may not be the best time to purchase a house in Monetary terms, we feel this is an ideal time for us to buy with repect to living our lives.
No one ever knows what could be around the corner and we're prepared to work hard so here goes.....0 -
why isnt this in the crash section , I thought thats what one was made for.Have you tried turning it off and on again?0
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