Own up. Do you regret it

alared

The buzzwords on the street today is be "realistic" in your asking price.
Who`s using the phrase, why, the very same morons who were UNREALISTIC in pushing the prices sky high in the first place.
ESTATE AGENTS

I always thought you bought a house to LIVE in or don`t people always need somewhere to live anymore?

GDB2222

alared wrote:

The buzzwords on the street today is be "realistic" in your asking price.
Who`s using the phrase, why, the very same morons who were UNREALISTIC in pushing the prices sky high in the first place.
ESTATE AGENTS

I always thought you bought a house to LIVE in or don`t people always need somewhere to live anymore?

Or as BTL?

Dee123_2

Or parents remortgaging/forking out to get their kids on the ladder?

Bestthingsinlifearefree

Hi Meanmachine,

The best time to buy is when you can afford it.

12 months from now prices might be 10% more than today or 10% less or just the same.Unless you have a crystal ball who knows.

Maybe in summer 2006 prices will be higher than in summer 2004.

As long as you pay the mortgage in a way house prices are irrelevant and over time they always hit new peaks.

At the end of the day you can agonise and analyse forever. If you see a property that you like and can afford go for it is what I say.

You could wait 5 year from now to see how the market goes, and buy in 2010 or 2012 and then the market suddently crashes or you lose your job.

Buying is always risk but arguably long term renting is a much greater financial risk.

Renting might suit some people better if they want to check out a area or if their job moves them to different location or they do not want the commitment of a mortgage.

Other people who want security for their family or who are nest builders etc might prefer to buy.

The people who bought in 2004 / 2005 are on the ladder and on their way to owning their own house.

If you personally are nervous about the market then sit out of it until you feel less nervous.

But to be honest most people don't regret taking the plunge and do financially well out of it. But when ever you do do it it will always be scary and people will always be saying is it the right time...what if etc etc

Good luck if you decide to continue renting and good luck if you buy. It s really more about your personal circumstances rather than the market.

Jake54

>>>>>If they knew that they might be in neg eq,<<<<<

Might???

How do you know for sure.

>>>>they'd probably top themselves,<<<<<

IF!!!! ( and it's a doubtful IF!!) IF!! their mortgage is worth more than the value of their house.
So what? That's nothing to worry about.
The only time that would be a pain, would be if they wanted to get a topup or a loan against the equity in their property
That's all.
They still would pay the same mortgage
They would have to wait till the price crept up again

>>>>And yes, if you bought in summer 2004, at market peak, you've certainly lost money.<<<<

If your talking about London, fair enough

But anywhere else

It hasn't peaked
It's leveled out

Jake54

One more thing.
You come into this world with nothing, and
You go out with nothing

So what's in between?

It's the funfair of life
Some like the ride's
other's don't!

Some take chances
While other's sit still

you either work for somebody ( and still get hassle)
Or get the hassle anyway and work for yourself

Some you win and some you loose. You can't win all the time
And when you loose
You brush yourself down, pick yourself up start all over again
Its the frame of mind and it depend on which way you look at life's challenges
life's to short :beer:

Doozergirl

alared wrote:

the very same morons who were UNREALISTIC in pushing the prices sky high in the first place.
ESTATE AGENTS

It was the buyers paying OVER asking price that would push up the price of the next property to hit the market.

It's a little naive to think that esate agents have control of the property market. They are as susceptible to it as any of us, more so, if you consider that it's the property market that puts food in their children's mouths.

Woby_Tide

meanmachine wrote:

And yes, if you bought in summer 2004, at market peak, you've certainly lost money.

Just for clarification is that every house bought in summer 2004 throughout England, Wales and Northern Ireland, or just some regions, or just a cross section of the market you focussed on, or a single property your friend owns?

wibble68_2

Dee123 wrote:

Pension funds and the FTB's who will have been lurking and saving for the previous 18 months, waiting to see what happens.

I'm entitled to my opinion.

This does seem to be a very popular opinion at the moment.

I seem to remember Pep related mortgages were all the rage at the end of the stock market boom.

Whatever happens the housing market will follow it's natural path regardless of any property related schemes.

Something far bigger than pensions or sharing schemes will have to come along to send the housing market higher.

The optimistic posters are suggesting that the housing market no longer moves in cycles.

I don't believe this is the case.

meanmachine_2

Woby_Tide wrote:

Just for clarification is that every house bought in summer 2004 throughout England, Wales and Northern Ireland, or just some regions, or just a cross section of the market you focussed on, or a single property your friend owns?

Forgive me woby, that's just your house I'm talking about.



No, I only refer to hometrack figures (England and Wales) as they fit my argument. The others I prefer to ignore until they come round to my way of thinking. :A