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House Price Crash Forum

Rubbernecker

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Everything posted by Rubbernecker

  1. Bournemouth is very nice but suffering from too many wannabee WAGS and has even worse job prospects. I tried to stay living in Bournemouth but could get much better prospects elsewhere
  2. Yeah its a home and next door have 3 kids in theirs so at least we know we could stay in this house as long as is needed. We were actually saying that about upgrading easier in the future so even if we lose money on this hopefully it will cost less for our next house. In the meantime we are overpaying 500 a month so that hopefully that will bring our LTV even further down for remortgaging in 2010. As for Southampton, i was trying to make the point its not exactly a bustling business hub like many other places in the South and that the job prospects for more professional work is not that good
  3. Doesnt surprise me about Southampton, its an awful place and job prospects are low. I would not say it was part of the booming south thats for sure! Feel sorry for those people though its personal responsibility at the end of the day. We bought last year (so pretty much top of the market) after coming on here for years but we bought a 3 bed semi with garage and can afford it one salary which is why we gave up waiting and bought and besides to rent this house was more than the interest on a mortgage. So we are gonna get royally screwed in the crash but at least we knew what we were getting ourselves into
  4. For all those who blame the other FTBers and the BTLers and everyone for pushing up prices stop and look rationally. I have realised that people don't make decisions for the greater good of society, they make it based on their own circumstances. I put off buying for ages and too got annoyed that others were still buying and that if i did buy that i would end up paying more than what they paid for it but at the end of the day all you can control is your own situation. Those people even the evil BTLers only bought as it made a good investment for them, had this been removed and not actively encouraged by the government then it wouldn't have looked so desirable. And as i have siad in a previous post there are plenty of people whose personal situations mean that buying is still easy but i do appreciate there are some that have struggled and to take joy in that in any way is pretty nasty imo.
  5. Where do you live as i cannot see that with a combined income of that you would stuggle on normal multiples. Have you had a house before or is your first house going to be this house
  6. Haha nope just saying that most of my mates are on pretty good salaries and so must there be other people that can still afford to buy! In answer to the other question some of these friends i worked with in the same role so i know the salaries roughly, based upon my salary which is below market rate and my husbands which arent overly impressive so i thought and in some instances seeeing their salary when work screwed up and sent a spreadsheet out with everyone's salary. True they are not all recession proof jobs but there is a dentist in there as well as an surgical nurse. Many of these apart from the idiots have large savings as well just like youthoftoday
  7. Well all i am trying to say is if you cant understand whose buying i was seeking to demonstrate that there are still people able to afford things pretty easily. As i said not the couple with the 4 bed house but everyone else i know has managed to buy at least a 2 bed as their first home as wages round here are good
  8. Well actually they had a 2 bed house and sold it having about 60k in equity and a 20 k redundancy payment. They bought a 4 bed detached with double garage for 335 last year. True they can't afford it and are banking on the grandparents dying and they are idiots in my opinion as they have said they worry when they come off their fixed rate but doesnt stop them buying new cars and a 10k kitchen. To be honest idiiots like this deserve to be rogered. The house is in Basingstoke which is a big commuter town as well as having many multinational headquarters. Everyone else i know is much more sensible and could cope with a big rise in interest rates.
  9. I live in the South East and all my friends work in offices, some have been to uni, others have a middle of the road office job and i can honestly say that these massive multiples taht have been spoken about on this site do not apply to a lot of people i know. Even the lowest income couple is on about 50k a year and granted they would lose 20k if the woman gave up work but ironically they are the only ones to have a 5 times multiple just because they wanted a flashy house that they can show off with. All my other friends have around a 80 k a year income and they have gone for 2 times their salary at most! I guess what i am trying to say is why the crash you hope for is not coming at this minute is because there are still loads of people in the South East that can still buy affordably!
  10. I too joined this site a couple of years ago and was convinced that house prices would crash and waited and waited until i got to the point where i thought lets see what we can buy on one of our salary's and if its something we can stay in then why not! We moved in a month ago and i couldnt be happier, we have a nice 3 bed with large drive and garage. I guess it was slighty different for us in that we could afford to buy but we waited to see if they dropped and they didnt so consequently we ended up paying more for it but hey ho you live and learn. The house next door but one ended up selling a month later for 15k more and ours is in better condition so we have a bit more of a cushion on top of our good deposit The trouble is that there are many people who can't afford to buy but there are plenty more who have made enough out of to keep buying. Also there are too many vested interests keeping house prices high. I find this site very informative for all things economic and despite buying i still think there could be a crash but i think anythng more than 20% in the south east is unrealistic.
  11. Jeez people need to get some perspective then!
  12. To be honest, i dont know why people are panicking to sell before HIPS as around here all the EA's will do it for you if you sell your house with them and they just take it out of the comission. Therefore no upright laying out of money (though how a few hundred quid puts people off with loads of equity i dont know) and so not much difference from before.
  13. I am a housing bear but have got fed up of waiting in the end as though we live the South East only 45 mins from Waterloo we decided that we wanted a home and to be honest we could afford it even on one salary so i thought why risk it going up further when we could buy quite comfortably. I actually know quite a few people in similar situations who have done this recently and i also agree with the posters who have stated that 2007 may not be the year! Believe it or not i dont want prices to keep rocketing up as i dont think that helps society in general but there are many late 20's, early 30s people who earn 45k + upwards a year and on traditional multiples can buy a nice 3 bed so i dont think just yet we are on the brink of a crash. We perhaps stupidly (tho remember looking at it as a home not investment) have bought something that may go down in value but we have a good fixed rate and will be overpaying £500 a month and i guess we will just stay there and try and ride out the storm. I do feel genuinely sorry for people that can't afford houses but i don't know anyone in my area that is having this problem and thats one of the reasons i think the crash may be delayed.
  14. No worries, there are people on here who will give you intelligent posts relating to your predictament whether its buy or not but others will just get annoyed at you for buying. As i said i have been a bear and have waited and then we found a house we could afford which if we had to we could stay in so we bought. That was always my criteria as its primarily a home.
  15. No, i appreciate seeing both sides of the coin and making any decisions armed with all the facts. As for negative equity we had quite a large deposit to put down and our plan is to overpay in the first 3 years to bring down that compound interest and overall capital so we are doing our best to protect ourselves from that. In Basingstoke to rent the same house we are looking at around 1000 a month anyway which is pretty much what we will be paying in mortgage.
  16. Well it 26 years old and not local authority. A friend of mine has an Aunt who has bought the exact same house a couple of doors down and paid 233k (ours has a paved driveway and nicer decor than theirs) so am hoping its not a bad price that we have paid but who knows what's round the corner.
  17. Why does it only exist in my head? And i am a Her by the way
  18. Sorry grumpy old man i meant the mortgage is £300 more a month than rent on our tiny flat. I guess we decided that if we found somewhere we could live and stay to ride out any negative times and we could afford it we thought sod it. I was feeling worried about another 3 years of renting and the prices still going up to i guess. We paid 220k for it I expect i will be flamed but just wanted to give a balanced view. I have been addicted to this site for years and just cos we have bought doesnt mean i won't pop on here occasionally as besides it gives a good overview of the economy
  19. It's a shame that when somebody in this sort of predictament posts on here they just get mainly stupid comments. If you can afford it and are planning on staying there then go for it. I have been a bear for years but maybe i am the most stupid bear at buying at the top of the market but i found a 3 bed with garage and nice big garage and extension possibilities in Basingstoke that we can afford so we have gone for it. We are FTB's and done our homework and we can afford this on one salary if we have babies and buy now and still have our luxuries like my horse. Maybe it will go down in value, maybe it wont but its £300 for the rent and my thoughts are that we can stay there for a long time. BTW this is in the South East as well!
  20. Yeah but as you say you wouldnt bring up a child in one room. If you were in a couple you would probably have to spend out more for more than a room. At the end of the day whether you rent or buy in your circumstance its gonna cost you more to have kids
  21. I think a lot of why less professional woman are becoming mothers is because of the following - As someone else has stated woman have finally been encouraged to have careers and once they are on the career ladder its scary coming off as all that hard work before can go to waste as promotions pass us by due to having children. I kno from my point of view its important to get one level higher if i want to come back and set my own terms - There are loads of chav mothers around, the thought of having to chat to them at the school gates is enough to put me off having kids. And also, what with the chavs over taking everything i dont want my children hanging around with a kid called blooming Ronaldo (i have heard of one being called that - i kid u not!) - If there arent the chav mothers there are the competitve middle class mothers who insist on tellling you how quickly their child became potty trained etc and looking down on others if thier parties don't cost a fortune. Really not looking forward to mixing with these lot, probably more than the chavs as hate all that material bull! - People are materialistic, people want new cars, clothes and posh holidays and forget what is important a lot of the time. I have friends that have bought huge detached houses just so they can show off even though it means they wont be able to have kids. How stupid and sad is that! We have recently bought in the SE a 3 bed semi with a nice garden and we calculated that we could do it on one salary though it would be tight with kids as well but not impossible so i am sure others can too but as another poster said you have to make sacrifices. Therefore despite being bears we decided to buy as i didnt want to risk waiting years more and it being more unaffordable. We may be completly stupid and bought at the top but only time will tell
  22. Whether i just put my partners income or mine as well it still came up with 198 - 225 which is bizarre as i earn almost 35 k so not peanuts exactly
  23. Yep the new builds have taking a caning and rightly so. Anyone who bought one of these is an idiot at the end of tye day! Luxury city centre living doesnt happen in Basingstoke! As for areas like Chineham, yes they have experienced HPI but not as much as the so called desirable areas such as Hatch (hutch) Warren.
  24. But why buy a resell when there are still loads of new flats in that grim block still for sale! And as for Victory Hill, I went to visit a friend who has been given a housing association flat with her boyfriend after only 6 months on the list and my god they were grim. We were met in the grey foyer by a girl who certainly looked like she would sell her baby for a westlife cd and then proceeded to go into her flat. On the way to the flat I noticed paint peeling off the walls of the corridors and cracks in the walls and within the flat a lot of work was needed by my friend to make the flat look halfway decent. I know that is the housing association part but apart from some pretty laminate instead of lino flooring in the luxury apartments I cant imagine that they are much different. My mother attended a planning permission meeting for some more flats which are between Victory Hill and Kingsclere Road and apparently they want to build 300 odd more flats. Gone very quiet in the last 6 months, maybe they have realised that the only market for these flats are housing associations (hardly living up to the luxury idea) or BTLers who are struggling to return a decent yield on these overpriced shoeboxes
  25. I have been bombarded with calls from estate agents this week but havent spoken to any as was feeling like poo. Quite interesting because some of the EA's were ones that I had thought i had hacked right off because I wouldnt believe that "house prices would only go up" and i wouldnt accept that the houses they were sending me were worth the money. In fact one smarmy EA had the cheek to ask me "if i had found my mansion for peanuts yet!" He said that just because I said that I thought £205k for a 2 bed ex council house was way overpriced! I assumed they were doing it just to update their mailing lists to be honest but hopefully the likes of Juilan and Giles are now panicking
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