FTB's - don't buy now!

WTF?_2

HammersFan wrote: »

Do you not think that there might be a few other people at that auction (you know, the one with all those 50% reductions) with a few quid in their pocket, ready to outbid you? Some of the money the other bidders are holding they might have even got from property investing or by withdrawing equity from the house that has gone up a lot in value.

There is loads of pent up demand (for house buying) out there as people like yourself and carolt demonstrate with your increasingly angry / bitter posts on here. As a result I don't think you will get quite the bargain you are looking for. One of the reasons that we have had such strong growth over the last 10 years could be that property was probably undervalued before, and there was pent up demand in the market.

What a typical post from house price inflation proponent.

Firstly, you don't actually appear to think that there can be a crash since you seem to believe that there's a pool of pent-up demand waiting to prop up the market should prices drop back to something more reasonable.

Wrong. Much of the current demand comes from people with access to silly amounts of mortgage borrowing and with the mindset that prices only ever go up, and steeply at that. Take away the props of cheap borrowing and an unshakable belief in easy profits and you'll see this demand evaportate.


Secondly, you attribute someone who views house prices as likely to go down to be doing so as a result of some personal anger or bitterness.

Frankly, this says more about your own personal attachment to the myth that buying a house is a one way bet than it does about those who you project your own feelings of personal attachment to.

It's also a pattern of behaviour that most of the house price inflationists here seem to possess.

mr.broderick

!!!!!!? wrote: »

What a typical post from house price inflation proponent.

Firstly, you don't actually appear to think that there can be a crash since you seem to believe that there's a pool of pent-up demand waiting to prop up the market should prices drop back to something more reasonable.

Wrong. Much of the current demand comes from people with access to silly amounts of mortgage borrowing and with the mindset that prices only ever go up, and steeply at that. Take away the props of cheap borrowing and an unshakable belief in easy profits and you'll see this demand evaportate.


Secondly, you attribute someone who views house prices as likely to go down to be doing so as a result of some personal anger or bitterness.

Frankly, this says more about your own personal attachment to the myth that buying a house is a one way bet than it does about those who you project your own feelings of personal attachment to.

It's also a pattern of behaviour that most of the house price inflationists here seem to possess.

:rotfl: It's like you have a set of responses to posts that challenge the hpc scenario which you copy and paste at will..you kill me !!!!!! :rotfl:

WTF?_2

mr.broderick wrote: »

:rotfl: It's like you have a set of responses to posts that challenge the hpc scenario which you copy and paste at will..you kill me !!!!!! :rotfl:

Again - no attempt to address the substantive point of my post (lack of mortgage availability and turn in sentiment will undermine price support) and a glib ad-hominem attack in substitute for an actual rational argument.

I suppose I shouldn't be surprised that those who appear to be in denial of logical argument and incapable of a rational debate should resort to chucking mindless put downs. It's about all you are capable of, it would seem.

HammersFan

!!!!!!? wrote: »

Again - no attempt to address the substantive point of my post (lack of mortgage availability and turn in sentiment will undermine price support) and a glib ad-hominem attack in substitute for an actual rational argument.

I suppose I shouldn't be surprised that those who appear to be in denial of logical argument and incapable of a rational debate should resort to chucking mindless put downs. It's about all you are capable of, it would seem.

Why not relax a little - don't get so wound up. People that bought houses have almost always done better than those that didnt - in the medium to long term. I think you must find this a very uncomfortable fact. Plenty of people with different opinions to yourself have tried rationale debate, but you just roll out the same old stock answers which rely on the opinions of experts who have consistently been very wrong about the direction of the house market..

For your info a crash would suit me quite nicely because I am looking for a bigger and more expensive house in the next 2-3 years - which will be more within reach after a crash. But if prices rise then that's OK for me too because I'll have more equity in my properties (i got a buy to let with a 50% mortgage to insure me against the impact of rising prices). Either way it works fine for me - can you say the same while you rent and save (when even small percentage increases in prices are going to hurt quite a lot).

Things is, predicting a crash with 100% certainty (as the OP seems to be doing) is just plain wrong. Savvy FTB'ers will do well in this market as they would in any other. And, when is this fabled crash coming. What's your criteria for calling it?

And try not to bash the keyboard too hard - it'll wear out.

WTF?_2

HammersFan wrote: »

Why not relax a little - don't get so wound up. People that bought houses have almost always done better than those that didnt - in the medium to long term.

Whereas people who max themselves out to buy at/near the peak tend to do pretty badly. In fact they're lucky if they come out of it ahead after years of stress and worry. A fact that seems to have whooshed over your head given that that argument is the whole point of this thread. It's even called 'FTB's - don't buy now!"

Mind you, reasoned argument hasn't been a your forte in this thread so far so I guess it's a bit too much to expect you to actually take on board the topic of the thread before you go off on one and accuse a poster (brit1234) expressing the POV that prices will fall as being "increasingly angry / bitter".

HammersFan wrote: »

I think you must find this a very uncomfortable fact.

Oh dear, here we go with projecting your obvious property price/self image issues onto other posters. I wondered if a HPI cheerleader could go a whole post without chucking that accusation. :rolleyes:.


I'd address the other 'points' of your post but there don't seem to be any (quelle surprise there, eh ) other than implying that the perfectly valid points which those warning FTBs of the danger of the market are expressing are little more than 'stock answers' cribbed from others.

Perhaps every time someone like yourself gives out an oft repeated misleading claim, anyone pointing out the factual counter-argument to the contrary should come up with a new and ever more inventive reason why you are talking a load of rubbish? :rotfl:

Look, why don't you simply cut to the chase and simply post "Property only ever goes up, innit. You're just jealous" into all your posts and save us all some time?

Gonzo

*pokes head around corner*

Jeez, are you guys STILL arguing about this? :rolleyes:

I think it's safe to say that you aren't going to agree. We're only a small step away from "yo momma's so fat etc" comments

Now gather your toys up, it's bedtime...

HammersFan

!!!!!!? wrote: »

Whereas people who max themselves out to buy at/near the peak tend to do pretty badly. In fact they're lucky if they come out of it ahead after years of stress and worry. A fact that seems to have whooshed over your head given that that argument is the whole point of this thread. It's even called 'FTB's - don't buy now!"

Mind you, reasoned argument hasn't been a your forte in this thread so far so I guess it's a bit too much to expect you to actually take on board the topic of the thread before you go off on one and accuse a poster (brit1234) expressing the POV that prices will fall as being "increasingly angry / bitter".




Oh dear, here we go with projecting your obvious property price/self image issues onto other posters. I wondered if a HPI cheerleader could go a whole post without chucking that accusation. :rolleyes:.


I'd address the other 'points' of your post but there don't seem to be any (quelle surprise there, eh ) other than implying that the perfectly valid points which those warning FTBs of the danger of the market are expressing are little more than 'stock answers' cribbed from others.

Perhaps every time someone like yourself gives out an oft repeated misleading claim, anyone pointing out the factual counter-argument to the contrary should come up with a new and ever more inventive reason why you are talking a load of rubbish? :rotfl:

Look, why don't you simply cut to the chase and simply post "Property only ever goes up, innit. You're just jealous" into all your posts and save us all some time?

Blimey. You are one angry person. Goodness me.

dannyboycey

Gonzo wrote: »

*pokes head around corner*

Jeez, are you guys STILL arguing about this? :rolleyes:

I think it's safe to say that you aren't going to agree. We're only a small step away from "yo momma's so fat etc" comments

Now gather your toys up, it's bedtime...

Nobody is forcing you to read this.

Lotus-eater

MrSafeGaz wrote: »

I think unless you really have to buying a house as a FTB now would be a mistake. No one can deny that the market for houses is looking a little rocky at the moment so it is well worth sitting it out to see what comes from it. I am looking to buy my first house and do not believe there will be a huge crash but I also don't believe that house prices will rise by any significant margin for a fair amount of time. My plans for buying a house are based on this assumption because if house prices don't rise by much then saving a deposit in the meantime is guaranteed to put you in a stronger position.

So although I agree with the OP in principal, I think its a little overly dramatic and may give those that are naive the wrong impression. What I would say though is that I don't think it can do any harm at all for FTB's to hold off for a while in the current climate to survey the situation. I don't think many can disagree with that.

Words of wisdom. Regardless of where house prices are in a year, Atm they seem to be dropping, therefore you are better saving a bigger deposit.
While I think everyone would agree that in the long run buying a house is a worthwhile thing to do, it seems to be those who remember the last crash who know its a bad idea to buy at the peak. The pain I saw people get into then (and many years after) wasn't nice to see. Don't convince yourself there won't be big drops, there could be. I'll just repeat that, COULD BE.

If you believe we are at the peak is the question.

rizel23

Does anyone think prices will now rise with whats going on? If not why not just wait a year and see what happens, as it saves all this debate