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Is buying a house a good idea?

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  • buggy_boy
    buggy_boy Posts: 657 Forumite
    Looks like the media want to be HPC members now, the bleating of a few folk with big mortgages on the internet won`t change the prevailing sentiment now, everyone and their granny knows that property is too expensive.


    https://www.theguardian.com/commentisfree/2018/may/10/celebrate-house-prices-falling-britain-property-values

    Just like when rates spike and you get some sensational headline what they miss in this is the fact that the Halifax say it shows the current volatility after a 1.6% rise in March.

    We still see an annual rise of 2.2% and the Halifax are predicting a rise of 3% this year, personally I think this is optimistic. I can see a 1% rise but that meaning a fall in real terms.

    But my point is as always you focus on anything that tried to prove your point that house prices are crashing or about to crash....

    What happened to the interest rate rises that were going to cause a crash, remember a few weeks ago you were posting links to Carney saying May was likely going to be a rise, I told you that was rubbish, you poo poo'd me, what happened to your May rate rise?
  • MobileSaver
    MobileSaver Posts: 4,217
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    the bleating of a few folk with big mortgages on the internet won`t change the prevailing sentiment now

    You've been bleating on about "sentiment" for at least four years now, remind everyone again how your acute financial insights have worked out for you and your HPC buddies in that time?
    everyone and their granny knows that property is too expensive.

    Clearly the well over one million people getting on with their lives and buying property every year don't think so. However I do believe that most people's grannies probably have a better understanding of the housing market than you and the HPC zealots ever will. :D
    Every generation blames the one before...
    Mike + The Mechanics - The Living Years
  • badmemory
    badmemory Posts: 7,629
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    edited 11 May 2018 at 5:11PM
    I bought my house (with a mortgage) almost 30 years ago. In that time the area has neither risen nor fallen in "status". The local schools are still as good as they were etc etc. My biggest shock in years was to find how much a house just like mine would cost to rent. The rental cost has gone up way more than the house value & the interest rates are a fraction of what they were then.

    Someone is making a lot of money out of other peoples unstable work contracts (don't get me started on "zero" hours) & agency employments - as in we don't actually employ anyone. We're moving back into the 1800s & no-one seems to care - sweat shops used to be in our history, we now give better protection to foreigners in their foreign sweat shops than we do to those in our own.

    Renting should only be a lifestyle choice for those who move around the country with regularity & who actually chose a lack of stability.
  • Crashy_Time
    Crashy_Time Posts: 13,386
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    buggy_boy wrote: »
    Just like when rates spike and you get some sensational headline what they miss in this is the fact that the Halifax say it shows the current volatility after a 1.6% rise in March.

    We still see an annual rise of 2.2% and the Halifax are predicting a rise of 3% this year, personally I think this is optimistic. I can see a 1% rise but that meaning a fall in real terms.

    But my point is as always you focus on anything that tried to prove your point that house prices are crashing or about to crash....

    What happened to the interest rate rises that were going to cause a crash, remember a few weeks ago you were posting links to Carney saying May was likely going to be a rise, I told you that was rubbish, you poo poo'd me, what happened to your May rate rise?


    Most sensible people know that Carney doesn`t control global credit markets.
  • buggy_boy
    buggy_boy Posts: 657 Forumite
    Most sensible people know that Carney doesn`t control global credit markets.


    No he is the head of the BoE, he has a huge influence on BoE rates which has a massive influence on mortgage rates. The May raise you creamed your pants about weeks ago and I said would not come about, you argued it would and a house price crash was then inevitable...


    Come on how much rent have you spent since you sold? Do you regret that decision? Why are you so desperate to persuade others to be in the same boat as you...
  • badmemory
    badmemory Posts: 7,629
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    Ever hear the saying misery loves company?

    I don't think owning your own home is about how much that home is worth. It is about no-one being able to tell you that you have to move as they want to sell the roof over your head, no-one saying you can't own a pet. I actually don't care if the value of my home plummets. It has happened before many years ago when I lived near London. As long as it doesn't go into negative equity (it can't now as I own every single brick) then the £ value is irrelevant.
  • Crashy_Time
    Crashy_Time Posts: 13,386
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    badmemory wrote: »
    Ever hear the saying misery loves company?

    I don't think owning your own home is about how much that home is worth. It is about no-one being able to tell you that you have to move as they want to sell the roof over your head, no-one saying you can't own a pet. I actually don't care if the value of my home plummets. It has happened before many years ago when I lived near London. As long as it doesn't go into negative equity (it can't now as I own every single brick) then the £ value is irrelevant.


    You are in a tiny minority if you think that I`m afraid, many people are expecting to sell at a profit IMO. I think being stuck in a house you can`t sell would be worse than getting a couple of months to find another house to rent TBH, but in the real world many renters stay put for years, and I once got nearly two YEARS notice on a house I rented.
  • Crashy_Time
    Crashy_Time Posts: 13,386
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    buggy_boy wrote: »
    No he is the head of the BoE, he has a huge influence on BoE rates which has a massive influence on mortgage rates. The May raise you creamed your pants about weeks ago and I said would not come about, you argued it would and a house price crash was then inevitable...


    Come on how much rent have you spent since you sold? Do you regret that decision? Why are you so desperate to persuade others to be in the same boat as you...


    So we agree that he doesn`t control global credit markets?
  • buggy_boy
    buggy_boy Posts: 657 Forumite
    So we agree that he doesn`t control global credit markets?

    Im sorry but why do you come on here? All you seem to do is derail all threads to say house prices are crashing, trying to spout the same rubbish as the HPC loons do. Or you comment that someones house is too expensive even though you have not really read the thread and have no knowledge of the area. Or you post some obscure link totally unrelated to the OP question.

    You made a huge financial gamble that turned out to be a huge mistake and now you think everyone should take that same gamble.

    So the BoE dont up rates like you had creamed your pants about weeks ago and now apparently that does not matter its all about global credit markets... Residential mortgages and BTL mortgages are predominantly based on BoE rates not global credit rates...

    It really is sad that you have spent so much time and energy on here trying to spout the same HPC rubbish. if you spent half the amount of time working you would not be in a rented bedsit..
  • dunroving
    dunroving Posts: 1,881
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    buggy_boy wrote: »
    Im sorry but why do you come on here? All you seem to do is derail all threads to say house prices are crashing, trying to spout the same rubbish as the HPC loons do. Or you comment that someones house is too expensive even though you have not really read the thread and have no knowledge of the area. Or you post some obscure link totally unrelated to the OP question.

    You made a huge financial gamble that turned out to be a huge mistake and now you think everyone should take that same gamble.

    So the BoE dont up rates like you had creamed your pants about weeks ago and now apparently that does not matter its all about global credit markets... Residential mortgages and BTL mortgages are predominantly based on BoE rates not global credit rates...

    It really is sad that you have spent so much time and energy on here trying to spout the same HPC rubbish. if you spent half the amount of time working you would not be in a rented bedsit..

    I hope you don't expect to get a logical response. Remember the definition of insanity ...
    (Nearly) dunroving
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