KingGorilla

I was expecting to get abuse for saying i'd bought a house.

I've been lurking on here for years and this site saved me from purchasing in the middle of 2007 just to get on the ladder. I've read all manner of posts since then, some predicting things which happened, some predicting things which never happened. However, I agree with @scottbeard in that everyones "circumstances" are different so the right time to buy will be different for people as well. Mrs KG and I have just bought a 1960's 3 bed detached bungalow in a secluded spot with some land with 25% deposit. The reasons being 1). Its near friends and family who live in the same village. 2). Its in a secluded plot with no neighbours to spy on our every move. 3). As its a bungalow we could knock out some internal walls and renovate it completely to how we wanted it. 4). There's enough land so in the future we can extend upwards/outwards if need be and be fairly self sufficient with vegetables etc. 5). Due to the above, theoretically we do not need to move again so are effectively out of the market. 6). Its well built and not a small new build on an estate. We love our house and if i'd been sticking to the "we're not buying until prices drop 30% or more mantra" then we would have passed over this opportunity and still been living in our old pokey flat. However, if we'd have to obtained a 95-100% mortgage then I would have thought about it hard but our "circumstances" meant that we could do it. You do not want to be so engrained in 1 way of thinking that you become blinkered. I'm open to abuse

I live in GKs home town of Bury St Edmunds and they recently made redundancies in the brewery\yard side of the business.... a lot of the "redundant" positions are now filled by agency staff, who cost more, but dont have the overheads associated with full time staff. So i think this is just headline grabbing and a vast majority of these 3000 jobs will be contract/agency or part time/low paid. Personally, if i was one of the people recently made redundant by GK i'd be furious to see a headline like this....

http://www.bestwestern.com/select * from tblAllClientData

TFH I like a good tin foil hat moment myself and i'm starting to come round to exactly the situation you are outlining.... Add in ID cards and also the current trend of "cloud" computing (where data is stored cheaply on a few large providers, i.e Amazon S3, rather than hosted by companies themselves) which makes it even easier for governments to access data on you then you start to see where could be heading... KG

The db could be storing the UTC date rather than the current datetime... or i could be talking rubbish KG

I could understand his logic if he'd had a 50% LTV but not 90%. Say prices fall another 15% at best(i think it'll be closer to 50% but thats my opinion) he'd still effectively be in negative equity with a mortgage more than the house cost. Personally, I hate overpaying for anything let alone for a mortgage! I wonder if he'll think like that when his mortgage is more than his house value... I'm renting until this whole saga unfolds more... I have no maintenance costs, can up and leave with short notice if need be and do not have to worry about being involved in property. I may be overpaying on what a mortgage would be costing me by about £50-100 but that's fine with me as I get flexibility and will also recoup this money when i eventually by in at a lower price. KG

Ahh ok, i had wondered if there was some colusion between the banks and EAs to set a price after repossesion. At least I now know

Tbh if I was serious about buying at the mo i'd go in at 50% of the latest price. I have no doubt it would be turned down but i'd leave my contact details and tell them to call me before it went to auction. It'd give them 2 months to think about it before taking chances at an auction.... This is only hypothetical tho as i'm keeping my cash safely tucked up and away from property for the foreseeable future. KG

Thank you. I thought it was about time I actually started posting Here is the link... http://www87.vebra.com/cgi-win/vebra.cgi?d...amp;prop=146262 enjoy... KG

This is my 1st post despite lurking for a quite while If you follow the link to cheffins brochure the 1st paragraph states "For sale by public auction on 1st October 2008 (unless sold prior)" so poss an element of distressed selling going on there..... It's about time these added some petrol to the flames of HPI. KG