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House Price Crash Forum

dirtysteve

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About dirtysteve

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  1. God Warlord you’re boring and like a stuck record. Go watch some more Schiff videos and count your few gold coins dreaming that one day you’ll be right whilst everyone else was wrong and 3 Brittanias might buy you a house. Even if fiats do collapse I’d rather own a house as an asset rather than some shiny useless coins. Edited to add. I do actually own gold. But it’s <1% of my total worth. About as much as any sane person should bother with.
  2. Lots of use of the word idiot by someone who doesn’t know the difference between your and you’re. 🙄
  3. That’s true. But there’s also plenty on here that could have for many many years but chose not to because of the impending crash. All whilst writing posts on here that no doubt convinced others to make the same mistake. It’s a shame and I feel for those people. Lower house prices will ultimately help everyone. I hope it can happen with small/modest nominal falls but sizeable real inflation adjusted falls.
  4. The HPC really may not be that close! Unless you measure them as real inflation adjusted prices. In nominal terms I think they’ll be flat or minimal falls. What even is a crash? 20%, 25%? For a company share price to crash id be thinking nearer 50%. Not gonna happen! inflation is hurting now but wage inflation is also happening in many sectors and will follow more and more. With 5-10% pay rises that extra 1-2% on the mortgage rate becomes affordable for all but the most stretched meaning no crash. If it’s going to happen it needs to happen soon otherwise the boat will be missed and the next leg up will have started before you’ve even realised. Meanwhile many on here are exposed to inflation much more than most homeowners are to a crash. Cash earns bugger all, crypto has fallen, gold is a waste of time, US equities are facing a bear market. Unless you’ve been mostly UK and commodities the chances are your deposit is falling quicker in real terms than the house prices you’re waiting for. A mini inflation adjusted crash might happen but I hope you still have your deposit intact to take advantage. I’ll sleep easy with 4 years remaining on my 0.99% fixed rate mortgage and my house value up 30% since covid alone.
  5. I’d guess it’s just a bad choice of words or complete misunderstanding of interest, inflation, returns, dividends terminology etc. I think many boomers could easily live quite comfortably off the return off their I’ll gained assets. Be that rental income from 2nd (3rd and 4th) homes, dividends, or interest. Many will be able to live without touching capital whilst that capital also still grows roughly inline with inflation after taking the ‘interest’. I’m sure many have good accountants sorting the important stuff for them whilst they happily spend the ‘interest’.
  6. Won’t be a single pin but a multitude of things adding up. When finances are stretched already… Gas and electricity prices increasing 60% NI increasing 1.25% council tax set to increase 5%+ furlough ending Many sectors seeing redundancies still and no signs of pay rises (eg aviation). inflation still rising. And eventually rate rises. The problem is for non homeowners that any pop might only bring it back to Pre covid levels at best.
  7. Your poll needed a Flat option. So I went other. I don’t see much change over the next 6 months.
  8. Very good point. And congrats. I completed a few months back after a few years out of the market and after taking advantage of the full SD cut it felt good telling my nightmare landlord where to go. Maybe I got unlucky with my last landlord but after that renting experience I wouldn’t wish renting on my worst enemy.
  9. Here’s its Zoopla listing as that shows its previous sold price. Assuming he accepts an offer of say 650 (if he’s lucky) then that’s quite an investment he made back in 2015 😂 https://www.zoopla.co.uk/for-sale/details/55929176?utm_source=v1:5bWFDybfWx7C7AGpeagt7mP3PgcqjuqJ&utm_medium=api Last sold 21 July 15 - £800,000
  10. Is this actually serious? Did you take your teacher an apple too?
  11. If it was that simple then why the differences. Each bank still has room to make their own decisions. Money is cheap and is staying that way. It’s been cheap 13 years and could easily be another 13. Keep paying someone else’s mortgage though 😉
  12. Lol. Can we talk about this again after your given 3 months 😂 or even 6 or 12 months or even a few years. Take a look at the rates available on 5 year fixed rate mortgages. For those with a big deposit you can borrow huge sums for less than 1.3%! Now as amazing as some are on here I think the experts in charge of setting those rates are probably better informed and better placed to call where interest rates are heading. If they agreed with you that rates were gonna rise in 3 months I don’t think we’d see such low fixed rates now. Ten year fixes are around 2% (for large deposits again) so the experts arent as confident over that time frame but still pretty sure they can make money lending at a lowly 2%. Other than supply and demand the biggest factor by far controlling house prices is interest rates. And unfortunately the experts all see them staying low. And I agree. Even as inflation creeps higher interest rates will stay low. And in that environment I’m happy being a home owner with a big mortgage fixed for 5 years. Covid was not the black swan and the title of this thread is correct.
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