We'd like to remind Forumites to please avoid political debate on the Forum... Read More »
PLEASE READ BEFORE POSTING: 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. Users who repeatedly disregard this may have their Forum account banned. Please also avoid posting personally identifiable information, including links to your own online property listing which may reveal your address. Thank you for your understanding.
📨 Have you signed up to the Forum's new Email Digest yet? Get a selection of trending threads sent straight to your inbox daily, weekly or monthly!
another 'am i doing the right thing?' thread.
Comments
-
It's a shame you removed or deleted your post mitchaa.
People like you should go back to watching Corrie or Eastenders - waste of time for most people to do any reading in to property booms and busts of the past cause those things can't happen in the modern age can they.
It's fully logical to you that houses can rise 300% in such a short time when wages have on average risen 35% over the same time-frame, but utterly illogical that they can't fall back 50%. So many people are going to be utterly schooled in this crash.
Yes that's right.
£160k average homes will soon drop to £80k and we'll soon be paying for 1/2bed flats on our credit cards:rolleyes:
Supply and demand my friend. Doormongers like yourself are forgetting there are millions upon millions of young professionals still at home with parents,late 20's, early 30's that are just waiting to flood the market.
Back in the 90's living with parents beyond the age of 25 was unheard of. Now its completely normal due to the recent housing boom
As soon as prices start to fall like that. Bidding frenzy crazy. £80k properties will soon be pushed to £120k or so with bidding wars.
This has to be 1 of the worst internet sites i have come across for scaremongering:rolleyes:
My property is still rising, that's all that matters to me:p0 -
There you go... you said it - even though I disagree with you I always encourage people to speak their minds, and I trust you feel better for it.Supply and demand my friend. Doormongers like yourself are forgetting there are millions upon millions of young professionals still at home with parents,late 20's, early 30's that are just waiting to flood the market.
Yes and my sister is one of them (27). A newly but fully qualified solicitor no less at a big city firm. Having me as a brother she is of course not allowed to buy, but even if she could, even on £28K she can't get much of a mortgage. Certainly not one for £160K.
Supply and demand doesn't support house price valuations - affordability and access to funds does.0 -
OP, you're buying a home, not an investment. Remember that many people posting on here have axes to grind and a vested interest in talking down the market. If you like the house, can afford it and could cover the mortgage payments by sharing if your relationship splits up - I'd say go ahead.0
-
Pull Out Of The Deal, You Are About To Make The Biggest Financial Mistake Of Your Life.
We Are Just Off The Peak Of The Largest Asset Bubble In History.
Do Not Buy.
Not everyone sees a house as a heap of cash. Most people see it as a home, and so long as the mortgage is affordable, then what's the problem?
What's the cost of the psychological side of being stuck in rented for another year or two? You may love renting someone else house, but for alot of people it sucks.
There's so many other sides to owning your own home that are priceless, so stop obsessing about cash, and start thinking about a home.
There is SO much more to life than money and the value of a house.Should've = Should HAVE (not 'of')
Would've = Would HAVE (not 'of')
No, I am not perfect, but yes I do judge people on their use of basic English language. If you didn't know the above, then learn it! (If English is your second language, then you are forgiven!)0 -
All with cash because they can't get mortgages, no doubt.Supply and demand my friend. Doormongers like yourself are forgetting there are millions upon millions of young professionals still at home with parents,late 20's, early 30's that are just waiting to flood the market.
But you're in Aberdeen aren't you? Property prices are all propped up by the oil industry.My property is still rising, that's all that matters to me:pA house isn't a home without a cat.
Those are my principles. If you don't like them, I have others.
I have writer's block - I can't begin to tell you about it.
You told me again you preferred handsome men but for me you would make an exception.
It's a recession when your neighbour loses his job; it's a depression when you lose yours.0 -
Not everyone sees a house as a heap of cash. Most people see it as a home
Unfortunately in recent years a huge chunk of the population has come to see their house as their pension, so they won't be hanging about when they see their retirement plans being flushed down the toilet.poppy100 -
Unfortunately in recent years a huge chunk of the population has come to see their house as their pension, so they won't be hanging about when they see their retirement plans being flushed down the toilet.
But if they hadn't bought anywhere they'd be paying rent out of their pension which is not a good place to be on a fixed income.0 -
Not everyone sees a house as a heap of cash. Most people see it as a home, and so long as the mortgage is affordable, then what's the problem?
What's the cost of the psychological side of being stuck in rented for another year or two? You may love renting someone else house, but for alot of people it sucks.
There's so many other sides to owning your own home that are priceless, so stop obsessing about cash, and start thinking about a home.
There is SO much more to life than money and the value of a house.
I'm so tired of shooting down this pathetic argument.
Perhaps you need to consider the advantages of waiting a few years and getting the same home for 50% less, or indeed a far bigger property in a better area for the same money.
Don't you think it's irresponsible to advise someone to buy an overpriced and rapidly devaluing asset on a forum dedicated to money saving?0 -
Yes and my sister is one of them (27). A newly but fully qualified solicitor no less at a big city firm. .
I thought newly qualified City solicitors were on more like £50k?...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'm so tired of shooting down this pathetic argument.
Perhaps you need to consider the advantages of waiting a few years and getting the same home for 50% less, or indeed a far bigger property in a better area for the same money.
Don't you think it's irresponsible to advise someone to buy an overpriced and rapidly devaluing asset on a forum dedicated to money saving?
I see that your crystal ball's working overtime again!
You may be right (although I doubt it) but you should express this as an opinion, not as a certain fact.0
This discussion has been closed.
Confirm your email address to Create Threads and Reply
Categories
- All Categories
- 351.3K Banking & Borrowing
- 253.2K Reduce Debt & Boost Income
- 453.7K Spending & Discounts
- 244.2K Work, Benefits & Business
- 599.3K Mortgages, Homes & Bills
- 177.1K Life & Family
- 257.7K Travel & Transport
- 1.5M Hobbies & Leisure
- 16.2K Discuss & Feedback
- 37.6K Read-Only Boards