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Is buying a house a good idea?

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Comments

  • Crashy_Time
    Crashy_Time Posts: 13,386 Forumite
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    http://www.yourmortgage.co.uk/editors-pick/shocking-scale-of-property-sales-slump-revealed/
  • buggy_boy
    buggy_boy Posts: 657 Forumite
    Crashy_Time wrote: »
    http://www.yourmortgage.co.uk/editors-pick/shocking-scale-of-property-sales-slump-revealed/


    That story says sales have been low for 10yrs... Yet in those 10yrs house prices have continued to rise.. So are you trying to say volumes really have no influence on house prices? Well done Crashy, you have just posted a random link that actually contradicts your own argument...

    Maybe read more than just the headline next time....
  • Crashy_Time
    Crashy_Time Posts: 13,386 Forumite
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    buggy_boy wrote: »
    That story says sales have been low for 10yrs... Yet in those 10yrs house prices have continued to rise.. So are you trying to say volumes really have no influence on house prices? Well done Crashy, you have just posted a random link that actually contradicts your own argument...

    Maybe read more than just the headline next time....


    House prices and volumes are just a function of credit availability, interest rates and sentiment. House prices (averages) have continued to rise while less people can (or want to) buy a house and less people can sell a house. What a wonderful system you are cheerleading! :T If you believe rates will stay low forever why not go large on the debt, buy another few houses?
  • buggy_boy
    buggy_boy Posts: 657 Forumite
    Crashy_Time wrote: »
    House prices and volumes are just a function of credit availability, interest rates and sentiment. House prices (averages) have continued to rise while less people can (or want to) buy a house and less people can sell a house. What a wonderful system you are cheerleading! :T If you believe rates will stay low forever why not go large on the debt, buy another few houses?

    Thats like saying Ferrari's high prices are a function of credit availability, interest rates and sentiment, you could say that about anything, the difference is people need a house..

    What your basically moaning about is capitalism, while its not perfect go live in North Korea and see how great that is.

    I never said rates will stay low forever, only a fool would think that but when they do rise any rise will be slow... I dont need to go highly geared, 7yrs ago while you were predicting a house price crash I bought at the low after the crash... Where as you decided to rent and wait for the crash... Now your just bitter and twisted...
  • MobileSaver
    MobileSaver Posts: 4,232 Forumite
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    Crashy_Time wrote: »
    House prices (averages) have continued to rise while less people can (or want to) buy a house and less people can sell a house.

    Why do you keep making false statements? It is a simple and provable fact that more people (33% more!) are buying houses not "less"; I even posted links to the official stats.
    Crashy_Time wrote: »
    If you believe rates will stay low forever why not go large on the debt, buy another few houses?

    Perhaps because most people buy a house as a home, not as an investment. It's primarily you and your HPC buddies who are obsessed with the investment potential of property and look at the sorry state that that has left you in!
    Every generation blames the one before...
    Mike + The Mechanics - The Living Years
  • Crashy_Time
    Crashy_Time Posts: 13,386 Forumite
    First Anniversary First Post Name Dropper
    buggy_boy wrote: »
    Thats like saying Ferrari's high prices are a function of credit availability, interest rates and sentiment, you could say that about anything, the difference is people need a house..

    What your basically moaning about is capitalism, while its not perfect go live in North Korea and see how great that is.

    I never said rates will stay low forever, only a fool would think that but when they do rise any rise will be slow... I dont need to go highly geared, 7yrs ago while you were predicting a house price crash I bought at the low after the crash... Where as you decided to rent and wait for the crash... Now your just bitter and twisted...


    Most U.K properties are not Ferrari`s, and most people buying Ferrari`s won`t be troubled by rising interest rates ;)
  • Crashy_Time
    Crashy_Time Posts: 13,386 Forumite
    First Anniversary First Post Name Dropper
    MobileSaver wrote: »
    Why do you keep making false statements? It is a simple and provable fact that more people (33% more!) are buying houses not "less"; I even posted links to the official stats.



    Perhaps because most people buy a house as a home, not as an investment. It's primarily you and your HPC buddies who are obsessed with the investment potential of property and look at the sorry state that that has left you in!


    Why are we still on emergency interest rates?
  • MobileSaver
    MobileSaver Posts: 4,232 Forumite
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    Crashy_Time wrote: »
    Why are we still on emergency interest rates?

    The "emergency interest rate cut" to 0.25% was a direct response to the Brexit result so I guess we're still on it due to the continuing uncertainty? Everyone knows we'll be worse off after Brexit, we just don't know how much we'll all be worse off...
    Every generation blames the one before...
    Mike + The Mechanics - The Living Years
  • Crashy_Time
    Crashy_Time Posts: 13,386 Forumite
    First Anniversary First Post Name Dropper
    MobileSaver wrote: »
    The "emergency interest rate cut" to 0.25% was a direct response to the Brexit result so I guess we're still on it due to the continuing uncertainty? Everyone knows we'll be worse off after Brexit, we just don't know how much we'll all be worse off...



    :rotfl:Good try. I meant the emergency interest rates we have been on for ten years, if the economy and housing market is doing so well why not properly raise rates? And look how the prediction of immediate collapse after Brexit worked out, and you think people should listen to Carney before getting into 100`s of thousands worth of debt for a house ? :rotfl:
  • buggy_boy
    buggy_boy Posts: 657 Forumite
    Crashy_Time wrote: »
    Most U.K properties are not Ferrari`s, and most people buying Ferrari`s won`t be troubled by rising interest rates ;)


    You have either totally missed the point or as per usual ignored it puts a massive hole in your logic.

    Actually its often those with a posh car and big house etc that arguably will be hit by any interest rate rises as usually the posh car etc is on finance.

    But again you are obsessed by this fabled interest rise, we have had basically 0.5% interest rates for 10yrs, its not likely that rates will rise very quickly.
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