enworb

Seems as though you think my reply is ridiculous as I think your suggestion is. It's been mentioned thousands of times on HPC that many buyers pay far more than double the purchase price of their property because of interest. That's why I thought it was relevant. The government already make a fortune from inheritance tax and stamp duty.

A lot of homeowners are paying plenty in interest to their lenders. If they are working to pay off the mortgage, how have they not earned it?

It's all very well having an "I told you it would crash 2013" t-shirt - but what about the "I told you it wouldn't 2004, 2005, 2006, 2007....."

There have always been incentives, particularly towards the end of the developers financial year. My best mate's brother has bought 3 or 4 new build houses and sold them within a year or 2 for a massive profit. He started this well before prices went crazy How? he bought at the end of a developers financial year, normally December, and got good discounts and the property fully carpeted....with the best carpets.

I can't be bothered to read all of your post considering you insulted me. I'm like most of Joe public. Moving with the times....forgetting the (supposed) 3.5 rule and now i'm not in a position where I don't need a crash. And you call me an idiot

This 3.5 x salary. Wasn't that when IR's were well into double figures? And wasn't it for a couple? Makes the 3.5 rule irrelevant

There's always one. "You don't own a home with a mortgage" As always W_a_P you give the legal definition and not one that makes someone feel better.

Coming from you

2 bed terrace to yourself and you are complaining Seriously, you could probably save more than your house will appreciate so in your shoes i'd sell. Good luck

Overpay your mortgage. With that much disposable income it will be paid off in no time.

There probably will be a few properties in London selling for £1.75 billion by 2045

Or 4 x salary for an average couple. Less if they are anything like the average HPC bear and saved a deposit by renting cheap

He should have done what sensible pro footballers do. Invested in property Not necessarily in the UK either before I start WW3

Very sorry about your Step Father and I hope taht the funeral goes as well as a funeral can go. I've lost quite a few of my immediate family, my Mum back in 1993, eldest brother 1998 and another brother in 1999. I also put things into perspective at the time - but over the years have realised that we have little choice but to worry about money, what with everything going up in price much faster than our incomes. I also belive that having money CAN increase life expectancy.....in which case having money can be a beneift. Not to mention the stress one can suffer from being in debt or living on the bread line. Any one of us on these boards may not see tomorrow but we still have to live as though we will...unless any of us are multi millionaires in which case just enjoy your life as much as possible. Even though I am the youngest brother, I thought i'd probably die before my brothers....if any of us were to die young. My eldest had a heart attack just into his 40's and my other brother, who was also my best mate, died at 29 in a motorcycling accident. Yet I was always the most likely to die on my motorbike or have a heart attack because of my poor diet. But as a Christian I do believe in fate. I did ask questions of God. Why so many from one family, why me etc. And then I think of others who have lost far more than I have. My Father owned his house outright 20 years ago or so and retired early at 55. I think that this is one of the reason he will be celebrationg his 70th birthday next Wednesday...and probably his 100th in little over 30 years. He has no stress, enough money in the bank to do as he chooses and eats a very good diet, heating on when it's cold (not all pensioners have this luxury) Longevity and wealth is all too often related.....which is why it angers me that our country's elderly are allowed to die because they couldn't afford to eat a balanced diet or heats their homes...while we pay for illegal immigrants and prisoners :angry: I've been to many Christian funerals - my West Indian family always celebrate the lives of the ones that have left us. Plenty of food and drink, meeting new people and most of all thanking God for allowing that person to be part of our lives. I hope that you can do the same.

Edit: repost

£300k between a couple on London salaries is very affordable. I don't see how these examples can be used to prove properties are overpriced. There are leasehold flats for more than that in Windsor...where people only earn Windsor wages. Here's what somebody will probably pay £285k for in Slough.....with, I assume, £50pcm ground rent/maintenace on top. Makes the freehold properties look like a bargain in comparison. http://www.rightmove.co.uk/viewdetails-804...22&tr_t=buy

If the OP can save more than the home that he expects to buy appreciates by, then it makes sense to save. BUT not everyone can rent so cheaply. Nor does everyone want to still be living at home.

Usually it's because the property has serious structural problems - in which case it's difficult to get a mortgage.

I've said the same thing before. That the increase in IR is only good for those with cash in the bank. For those with little or no savings, it is getting ever more difficult to buy a property. I can almost hear the cheer from the bears when at 12pm it has been announced taht IR's have increased by 0.25%....but within a week and no sign of a crash, they soon realise that it is getting harder to buy. Now consider that your "average bear" on hpc has far more savings (most say they are saving a fortune by renting cheap), than your "average Joe", it gives them little choice but to jump in the deep end and hope for the best. It's been happening since the late 90's and will continue at least until next summer. Maybe, just maybe there could be stagnation.....but I don't expect property ever to be as affordable as they are today....if you can call them affordable.

Well put.

Even as a bull I can understand that buyers will probably wait for the decision tomorrow with regards to IR's. As Pluto says, you can't sell a £50 item on ebay in less than a week. Are you sure that the EA's included your property in the local property news? if your area has such a thing!

The days of a house being the same value as a middle of the range car is over. Welcome to the forum btw

Ipod generation :angry: I bet Apple can't believe their luck that the new generation has been named after their product. I agree that most are worse off since the late 90's but the ones that have done ok are the people trying to move with the times...ie, borrowing too much to get onto the property ladder. Not saying it is the right thing but it has happened. Ps, I don't own an Ipod, i've got a cheaper mp3 player that won't store all of my 20 year cd collection...only for someone to probably steal it at some point

I agree.

I too had an idea of the value of the place that I am selling....but I thought i'd at leats give it a few weeks at the asking price suggested by the main EA in my village. Result. Quite a few viewings, good feedback but no offers anywhere near the asking price. I've since instructed the EA to market it as OIEO £5k more than the highest offer. THis was only on Wednesday so hopefully this week I will have at least one offer. If your neighbour is selling too, that may put off prospective buyers. My neighbour and the basement flat below my split level maisonette were both advertised for sael.....accept I knew the flat below wasn't for sale. I phoned the EA of the flat below asking them to remove their for sale sign...then phoned againa and again. Eventually I took down the sign myself...and now my neighbour's house (all 3 levels) has sold to an investor. If I was you, i'd go in between you initial estimation and the highest and then consider reducing the asking price after 4 weeks or so. Good luck