Isn't anybody tired of hearing the same old

gabyjane

Boring 'IF [EMAIL="YOUR@E"]YOUR'E[/EMAIL] A FTB DON'T BUY NOW'

Seriously we have waited and waited and waited listening to people saying this for the last few years only to be priced out of everything in reach and kick ourselves for listening to them.

Every time we thought about it, it would be 'just another few months you'll see'??? yeah i see that all my friends have their houses that they bought for £1000's less than now and have a nice hefty profit to add!

We now luckily have a S/O house that we love, where we want it..cheap mortgage and rent so we can't complain but could have had our own house far longer and paid more going somehwere than in all our previous landlords pockets..we don't want to move so really don't care if the prices go up or down..actually in our case it would benefit us for them to go down as we can then buy another share easier!

Anyway my outlook is if you can afford it buy, if not or it's going to stretch you then don't..common sense really..seriously all of you saying wait, people have brains and can decide for themselves wether to go for it or not can't they??

Conrad

40% less money available to lend, so of course prices will fall. Thats a real 40% less cash which wont be replaced by pennies from heaven.

To suggest otherwise would defy the laws of gravity!

As you say people have brains, and those that use them will pay a lot less for property now than they would have in 2007. Those that have one dimensional brains that have no lust for life and all its intracacy will stick to reading celeb gossip and talking nothingness with thier freinds.

tomstickland

I'm not at all bored with listening to the same old argument. The reason is that the longer it takes to happen then the more dramatic it's going to be. I also have a morbid fascination with the whole thing - watching loads of people rush to buy ever more expensive properties "as investments", knowing that a lot of it is going to go horribly wrong.

all my friends have their houses that they bought for £1000's less than now and have a nice hefty profit to add!

You then go on to say that house prices falling would benefit you. It would also benefit people who want to move up to bigger houses. This "profit" is not profit at all.

trudiha

No, not at all. Before I started reading this section, I only had the most vague understanding of the housing market, I only ever read the Arts section of the newspapers. I'm a FTB and I've just had an offer accepted on a house, however, I feel that reading all of the doom and gloom has given me a realistic idea of the state of the market, I've taken off my rose tinted glasses and I know that I have to negotiate hard and that even with a hefty discount my new house will be worth considerably less than I pay for it by this time next year. That gives me the knowledge that I have to keep saving to address the likely decline in my LTV ratio rather than using a credit card to get myself a nice new Smeg fridge.

It might not have been what I've wanted to hear but it's been something that I needed to hear.

dannyboycey

gabyjane wrote: »

Boring 'IF YOUR'E A FTB DON'T BUY NOW'

Seriously we have waited and waited and waited listening to people saying this for the last few years only to be priced out of everything in reach and kick ourselves for listening to them.

BUY NOW THEN!!! With an attitude like that, you deserve a harsh lesson in reality!!

!!!!!!... words fail me. If you are bored of the 'same old', then get your coat and shut the door behind you.

WTF?_2

gabyjane wrote: »

Boring 'IF YOUR'E A FTB DON'T BUY NOW'

Good point - do you know any good jokes or have any witty anecdotes that you could post instead to entertain us. Or some juicy celeb gossip? Or does anyone want to talk about the football?


On the other hand, someone just about to plunge into the biggest financial commitment of their lives might just find debate on the pros and cons of doing so quite useful, what with this being a forum for information on house buying and all.....

gabyjane

dannyboycey wrote: »

BUY NOW THEN!!! With an attitude like that, you deserve a harsh lesson in reality!!

!!!!!!... words fail me. If you are bored of the 'same old', then get your coat and shut the door behind you.

We have bought now (well 7 months ago!) as we have no intention of moving does it really matter? we are on a long fixed rate term and if the worst should happen then my inheritance will have to pay the house off...awful eah! We have bought it to live in not bodge up and sell to try and make a quick buck like lots do.

A house as many forget used to be a home not something to try and do up and make as much money as poss..greedy people like yourself obviously are a bit hacked off that your precious house may not all it was going to be cracked up to be..
Why worry about everyone else it's YOUR'E house at the end of the day that matters not anybody elses? why worry wether FTB can't afford it..no one cared when we couldn't..AND as i said if we had bought a long time ago we would be laughing instead of smiling!

gabyjane

someone just about to plunge into the biggest financial commitment of their lives might just find debate on the pros and cons of doing so quite useful, what with this being a forum for information on house buying and all...

BUT it's not is it..it's a forum to slate FTB, NEW BUILDS, OVERPRICED HOUSES etc it doesn't always help it just criticises..

Most people with common sense will get an IFA and sit down and work out what they can/can't afford..you have to look ahead and try and guess i suppose at what you think may or may not happen then it's up to you..we have not just bought the 1st house that has popped up because we 'Want a house' or 'Can currently afford one' we have looked ahead and realise that if things go wrong we have saved for the payments rising (even though we are fixed) etc..maybe i'm with the minority wanting a house to live in not for an investment..how many FTB will buy to try and re sell a few months down the line..worry about it when it happens i know i will...i don't really care wether ours loses value or not to be quite honest.
Oh and i can say that as i could have written the exact same thing years ago and we are ok and always would have been whatever happens.

teabelly

There is only less money for lending while the credit crunch is still going on . Once the liquidity returns then lending levels will return and house prices will carry on rising as other reasons will keep demand higher than supply. There are plenty of people that still can afford to buy. The market no longer depends on FTBs, there are plenty of investors willing and able to jump in their shoes. Now property is considered more of an investment you can bet your last pound that the banks will do anything to make sure property prices are kept high as they'll be up a creak if they don't and they know it. Banks might make some effort to say they are being more fussy to try and counter the moral hazard argument but be certain in a couple of years they'll be lending to anyone with a pulse.

The biggest shouter of HPC is some idiot from capital economics that has been shouting the sky is falling since 2002 or earlier. It hasn't fallen. It isn't falling and once lenders start lending to purchasers and each other the whole housing wobble will blow over. It might take a few months or maybe even as much as a year but it will blow over. What FTBs, STRs and BTLers want doesn't make it happen. What rich people and banks want is what is going to happen whether you think it is fair or not. They want continued HPI so HPI is what you'll get.

The govt and the rich people couldn't give a stuff if key workers or anyone else can't afford to own a house and will therefore make a few token efforts to keep the daily wail readers happy. Unless the swing voters in key marginals want house price falls you aren't going to see it. The economic consequences are far worse with house price falls then dealing with a few moaners that can't afford.

If you can't afford you can't have, end of. No whining or moaning or petulantly saying 'life isn't fair because I can't afford a big house and shiny things and holidays abroad'. People will have to learn to live with less including owning their own home. No wonder we have such a nanny state if the general public behave like spoilt toddlers most of the time

gabyjane

If you can't afford you can't have, end of. No whining or moaning or petulantly saying 'life isn't fair because I can't afford a big house and shiny things and holidays abroad'. People will have to learn to live with less including owning their own home. No wonder we have such a nanny state if the general public behave like spoilt toddlers most of the time


Exactly my point, couldn't have worded it better myself..honestly this whole house thread sometimes does sound like the local mother and toddler group i go to!!:rotfl:The toddlers poss have more common sense though!!

EdInvestor

tomstickland wrote: »

The reason is that the longer it takes to happen then the more dramatic it's going to be.

Not so,assuming you refer to a crash.It's the opposite - the longer it takes to happen, the less likely it will happen at all.

Why?

Because house prices are a function of how much people can afford, and that is based on how much they can borrow, which is based on how much they have saved plus how big their salaries are.

The more time goes by, the bigger the deposit they will be able to save and the higher their salaries will become, thus the more affordable the property and the less likely there will be any crash.

Sellers really are best to be patient and wait, not be bounced into unnecessary price cuts, especially since there's no guarantee any of these FTBs are going to be able to get a mortgage at the moment anyway..