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Hello Forumites! In order to help keep the Forum a useful, safe and friendly place for our users, discussions around non-MoneySaving matters are not permitted per the Forum rules. While we understand that mentioning house prices may sometimes be relevant to a user's specific MoneySaving situation, we ask that you please avoid veering into broad, general debates about the market, the economy and politics, as these can unfortunately lead to abusive or hateful behaviour. Threads that are found to have derailed into wider discussions may be removed. Users who repeatedly disregard this may have their Forum account banned. Please also avoid posting personally identifiable information, including links to your own online property listing which may reveal your address. Thank you for your understanding.Is this buyers remorse?
Comments
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Crashy_Time wrote: »How else will they clear their bubble loans, especially if interest rates rise?
How will they be able to if nobody will lend?
You still haven't explained how renting for the rest of your life with nothing to show for it is a better prospect.
Oh, and not everybody lives in the South East either!!0 -
This is a commonly held misconception... just take a closer look at LOCAL job opportunities and LOCAL average wages in these so called ''reasonably priced'' areas and you'll see that local average house prices are still many multiples of local average incomes.
HAHAHA, so now it's a commonly held misconception that, the boroughs of Manchester, Liverpool, Cheshire, Leeds etc, are all over priced....
http://www.rightmove.co.uk/property-for-sale/property-65454950.html
In 2015, the Liverpool Avg salary was £29k. That 3 bed semi will sell for £140k that's about 4 & 1/2 avg salary. very reasonable for a single occupant. But then why would a single occupant need a 3 bed semi. Combine that with a partners income and you're looking at 2.5x avg joint salary. I would say that was pretty cheap.0 -
bertiewhite wrote: »How will they be able to if nobody will lend?
You still haven't explained how renting for the rest of your life with nothing to show for it is a better prospect.
Oh, and not everybody lives in the South East either!!
I`m talking about those who got their bubble sized loan before the bubble popped. How can you have nothing to show for it if you save/invest 2 or 3 times the value of your rent every month! How on earth could stretching yourself into a London/SE type mortgage scenario at the peak of a bubble be a better prospect than that, especially with all the interest rate risk that you will be taking?!0 -
Jack_Johnson_the_acorn wrote: »HAHAHA, so now it's a commonly held misconception that, the boroughs of Manchester, Liverpool, Cheshire, Leeds etc, are all over priced....
http://www.rightmove.co.uk/property-for-sale/property-65454950.html
In 2015, the Liverpool Avg salary was £29k. That 3 bed semi will sell for £140k that's about 4 & 1/2 avg salary. very reasonable for a single occupant. But then why would a single occupant need a 3 bed semi. Combine that with a partners income and you're looking at 2.5x avg joint salary. I would say that was pretty cheap.
How long has it been on the market, and how many of a similar size/price are on the market? What is the average type of employment that earns the single person 30k a year?0 -
Crashy_Time wrote: »So it`s a mortgage? Any Buyers Remorse yet?
I'm renting currently, about to exchange on a mortgage maybe this week. And absolutely no buyers remorse thanks
Good timing really because the flat i'm renting has been sold by the owner and i'm currently serving notice... 0 -
Jack_Johnson_the_acorn wrote: »HAHAHA, so now it's a commonly held misconception that, the boroughs of Manchester, Liverpool, Cheshire, Leeds etc, are all over priced....
http://www.rightmove.co.uk/property-for-sale/property-65454950.html
In 2015, the Liverpool Avg salary was £29k. That 3 bed semi will sell for £140k that's about 4 & 1/2 avg salary. very reasonable for a single occupant. But then why would a single occupant need a 3 bed semi. Combine that with a partners income and you're looking at 2.5x avg joint salary. I would say that was pretty cheap.
Well if you're gullible enough to believe that the average worker in Liverpool is pulling in over £550 a week then there's probably no helping you
(please don't tell me you got that figure from the Office for National [STRIKE]propaganda[/STRIKE] Statistics)?0 -
Liverpool ave salary is just under 24k which is enough to afford to buy a livable house. A couple should be comfortable with a small family home.0
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Well if you're gullible enough to believe that the average worker in Liverpool is pulling in over £550 a week then there's probably no helping you
(please don't tell me you got that figure from the Office for National [STRIKE]propaganda[/STRIKE] Statistics)?
I am and my wife is earning more. I have a very avg job within the public sector the wife is a nurse.
Even if the avg is 3k-5k less there are cheaper houses in cheaper areas. It's still obvious that there are plenty of decent houses available quite cheaply all across the North West. What do you class as too expensive? My wife and i purchased a house for 130k which at the time was 3x our annual joint salary. Now it's more like 2.2x.
You clearly have no idea what you're talking about.0 -
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Crashy_Time wrote: »
I don't know Crashy, Unlike you “Lining a landlord’s pockets was never his long term goal” & “Renting is dead money and the bottom line is that I’m tired of paying off someone else’s mortgage. You are also very limited by how homely you can make a place when renting, as you need consent from the landlord for any cosmetic changes — for example, when you’re painting the walls”.
Imagine living in a bedsit for 20 yrs & constantly looking for an even smaller, cheaper place to rent out of fear of a rent rise….. worrying about even painting a wall...... You'd go mad, probably end up posting constantly in a members only, obscure sub forum claiming house prices are going to crash, in the vain hope that you can convince yourself that you've made the right decision.0
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