price drops

boinging_2

MUDGUTS wrote: »

Whoa Lilly...

You are reading too much into what I said.

Also taking this personally. I never said I pay or paid for private education, for example but you have called me 'stupid' for paying for it.

This thread is not about LillyJ and whether or not she is right to buy a house.

...It's about Price Drops.

There is no right or wrong here but you seem to be intent on opposing the views of anyone who may not be in agreement with you.

Have a look at the Wikipedia entry for confirmation bias .

Anyway, if your are happy in what you are doing, why does it matter what anyone else thinks?

I wish you well in your new home,

MUDGUTS

Here here. By pointing out that prices are falling, I'm trying to help people save money - I thought that's what this website was all about?

LillyJ

I am not blind or deaf, I know prices are falling.

Kez100

boinging wrote: »

But surely if you could buy a bigger house or the same house cheaper in 6 months time then it's better to wait?

You wouldn't buy a TV in John Lewis knowing it's going to be cheaper in the future.

Well, that's not true! Every time we buy electronics we know it'll be cheaper in a couple of months time. Not a good analogy though as the most you'll save waiting is a few hundred, not thousands.

boinging_2

Kez100 wrote: »

Well, that's not true! Every time we buy electronics we know it'll be cheaper in a couple of months time. Not a good analogy though as the most you'll save waiting is a few hundred, not thousands.

Sheesh okay bad example, but the point is valid. Let's change it to an antique table.

:doh:

neas

LillyJ wrote: »

I am not blind or deaf, I know prices are falling.

Your getting quite defensive. Nobody has questioned your education.. and your reply comes off as quite pompous.

I believe MudXXX mentioned intelligence... intelligence does not mean educated to any level.. even PHD level, it means you spent approx 8-9 years of your life studying (most likely not earning during that time) (A-Levels, Degree, Masters, PHD). Speaking personally I think i'm fairly intelligent... im very savvy with money at least, and I can calm mine and my partners 'need/want' to buy a house... because its very likely that houses will be cheaper soon. soon being the operative word.

Although it might be an indication that people who went to university are intelligent... I can find many subjects (current students, people i know) who are not intelligent at all.. because they did the 'in thing'.

As to your original point, I fail to understand how this thread has progressed.

You have bought a house and want to justify it to yourself. Thats the purpose of this thread.

Except that its hard to achieve this when people tell you things you already know... bringing up your own concerns over your purchase. You are trying to convince yourself you did the right thing, correct?

LillyJ

neas wrote: »

Your getting quite defensive. Nobody has questioned your education.. and your reply comes off as quite pompous.

I believe MudXXX mentioned intelligence... intelligence does not mean educated to any level.. even PHD level, it means you spent approx 8-9 years of your life studying (most likely not earning during that time) (A-Levels, Degree, Masters, PHD). Speaking personally I think i'm fairly intelligent... im very savvy with money at least, and I can calm mine and my partners 'need/want' to buy a house... because its very likely that houses will be cheaper soon. soon being the operative word.

Although it might be an indication that people who went to university are intelligent... I can find many subjects (current students, people i know) who are not intelligent at all.. because they did the 'in thing'.

As to your original point, I fail to understand how this thread has progressed.

You have bought a house and want to justify it to yourself. Thats the purpose of this thread.

Except that its hard to achieve this when people tell you things you already know... bringing up your own concerns over your purchase. You are trying to convince yourself you did the right thing, correct?

Not sure when this got to be about intelligence? I totally missed that one
I actually spent 6 years studying, and I was earning (working part time during first degree and funded PhD).

Anyway, no I have not got concerns about my purchase, and am not convincing myself it is the right thing to do. I sleep soundly at night and can't wait to move in to my new house!

neas

MUDGUTS wrote: »

Firstly, I would say that true intelligence pushes one towards the best solution or outcome, not the most expensive one, such as a house.

I should've quoted it... apologies. His post revolved around people with some intellect would rather 'hold back' their emotions/brood signals and rent for a while to save their future family alot of money... potentially skipping one house jump so to speak.

Im 24 and my partner is 27.. we have the brooding signals already.. but we are too busy getting married this year to think about houses yet... but I think we will have our first child in a rented accomodation.. seems a weird way to do it but i honestly dont see the problem. Minimum time till a child arrives is 1 year... 9 months pregnancy and we aint gonna even think about kids until after we married in 3 months.

I believe by waiting 1 year itll save my family alot, While i earn 28k and my partner earns 19k... we would like her to look after the child/children and work part time... so obv our pay would take a hit. It doesn't take a genious to realise it would be safer to wait for prices to drop.. if we were intending to reduce total salary earnings.

m00m00

once again another thread descends into a squabble about personalities and not issues.

LillyJ

neas wrote: »

I should've quoted it... apologies. His post revolved around people with some intellect would rather 'hold back' their emotions/brood signals and rent for a while to save their future family alot of money... potentially skipping one house jump so to speak.

Im 24 and my partner is 27.. we have the brooding signals already.. but we are too busy getting married this year to think about houses yet... but I think we will have our first child in a rented accomodation.. seems a weird way to do it but i honestly dont see the problem. Minimum time till a child arrives is 1 year... 9 months pregnancy and we aint gonna even think about kids until after we married in 3 months.

I believe by waiting 1 year itll save my family alot, While i earn 28k and my partner earns 19k... we would like her to look after the child/children and work part time... so obv our pay would take a hit. It doesn't take a genious to realise it would be safer to wait for prices to drop.. if we were intending to reduce total salary earnings.

Great. Good for you. You know the time it takes to have a baby. You wait. You get a house cheaper. I get one now, I pay more.
I am happy with my choice, you with yours.

PS still don't get the bit about intelligence, not sure if you are trying to imply I am thick by buying now? TBH I don't really care! Maybe I am thick but at least I am happy!

cheeky_lil_monkey

This thread is so petty and annoying!!

We're in the position that we have to sell now. We bought for the first time less than 2yrs ago and put down about 15% deposit. We live in a small flat - not in the nicest area of anywhere at all - but still cost us over £160K.
Some people say we should move away - buy somewhere cheaper - but our secure jobs are here and if we move elsewhere, we won't have those!!

But now, the price we'll get is already less than we paid and we're heading rapidly downwards. Our mortgage company has said they'll lend on 90% max but a our property price falls, we're heading to the point where if we sell for a profit at all, this will just about cover our moving costs etc. if that.

So why not just wait it out?? Well...if we hit neg equity - we can't port our mortgage or get a further mortgage - so we'd rather get out now. Sure we may have to pay more now than in 6months, but at least we'd get somewhere. It's not always so straight forward and simple as 'wait and benefit'.

Oh ... and for whoever is going to say it, between my other half and I we earn over £45k ... excluding bonus/commission/overtime etc. which can bring in another £8k ish over the year. I fully agree the situation is ridiculous....but everyone just sitting waiting for prices to fall....that's like wishing people to be in great difficulty just so you can benefit!! SOoo wrong.