price drops

sarkin

Yep lots of nice price drops here in bournemouth. Property Bee is the dogs whats its

LillyJ

Kez100 wrote: »

Why wouldn't a couple buy a 4 bedroomed if they could afford it? It costs an absolute fortune to move (in money and prozac medication!) and if you know you are going to have children and, perhaps, need a room for family to stay.

When we bought our second home, we picked somewhere we should never need to move from bar a complete unforseen change in circumstances.

Yes they can if they can afford it. We are buying in order to allow for kids, which is only sensible. But to say that 4 beds are over priced simply because a single person on average wage cannot afford it is ridiculous.

It is like saying that range rovers are overpriced because they are much too expensive for someone on average wage to buy, when they could afford a fiesta.

kristianwilliams

True, but at the moment, Fiesta's are more expensive now, than the jaguars were 10 years ago... at least in your arguement.

What the FTB's are left with, are little cars where they have to pay what Landrovers should cost. We cant afford it, so we're stuck "on the bus" so to speak.

LillyJ

That is precisely my point. In some areas, people CAN afford it. There is no "should" about what you can afford. You do not deserve a 3 bed semi or whatever just cos you earn a certain amount.

kristianwilliams

True, but does that mean these people who want help because they are being repossessed and what not, because of there own choices on the mortgage can get stuffed, because there is no reason to help them?

Do they deserve help because they have priced me out of even affording a house?

Do they deserve help at all? If they cant afford it when it comes to the end of a fix term? does it matter, because some people CAN and good on them?

Who can afford and who can not, are suddenly going to meet in the middle. who has the most to lose?

So I dont deserve a 3bed because I earn a certain amount yet its ok for people who cant afford to pay for it now, after the fixed rate, to get help?

Who has the right to a house? who has the right to live a nice life? who has a right to anything?

I dont deserve a 3bed because I've been priced out. If I was born 10 years earlier, I would'nt be priced out. Is that fair? That because of my age, I dont deserve anything?

LillyJ

Well I am 23 so you cannot accuse me of being able to take advantage of cheap houses 10 years ago.

Do you have a social responsibility to keep prices low? No. If you had been born 10 years earlier you would be cracking open the champers like the rest of them.

izzybusy23

LillyJ wrote: »

Well I am 23 so you cannot accuse me of being able to take advantage of cheap houses 10 years ago.

Do you have a social responsibility to keep prices low? No. If you had been born 10 years earlier you would be cracking open the champers like the rest of them.

Just out of interest, where do you live and what do you do for a living??

For a 23 year old, you sure seem to know a lot for your age. When I was 23 I did have a house, but wasn't really clued up on things like the economy like people are today.. guess that was my downfall!

italia

kristianwilliams wrote: »

Do they deserve help because they have priced me out of even affording a house?

i dont think its the people being repossed that have priced you out of affording a house. the people facing repo have paid too higher price, at the top end after you were priced already out of the market (or you would have bought then too and be in the same boat). these are the people that can't sell to cover the mortage because of the state of the market. if they had been priced out of the market sooner and not taken the plunge they would be better off really. there are alot of people complaining about being priced out and wanting prices to drop which is understandable, but there are people in worse situations that did manage (just) to get on the ladder at the wrong time and are now going through financial hell.

also the people being repossed are the ones whose houses will go to auction for less, or who will sell for anything they can get to avoid bankrupcy, these are the ones that start the prices going down. if everyone that has bought (even at very high prices) could afford to stay put they would never accept offers less than they paid for the place so prices wouldn't drop so quickly.

LillyJ

izzybusy23 wrote: »

Just out of interest, where do you live and what do you do for a living??

For a 23 year old, you sure seem to know a lot for your age. When I was 23 I did have a house, but wasn't really clued up on things like the economy like people are today.. guess that was my downfall!

I live in the West Midlands. I work for the NHS primary care trust in strategic planning (less boring than it sounds!).
I went away to uni 100 miles away from home at 17, then did a PhD so I had to learn to live frugally. OH is a policeman who is the same age as me. I like to think I am clued up but my dad is a chartered accountant so that helps in terms of teaching me about money!

MrSafeGaz

There is alot of discussion in here around specific examples of affordability. There are always going to be exceptions to the rule but there is one thing which is irrefutable, for a person on an average wage buying an average house, affordability is significantly less than it was 5-10 years ago!

On a side note, how on earth did you manage to finish a degree, do a Phd and then get a job at the age of 23? Thats pretty good going