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ARENAPUA

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  1. Interesting, semi reasonable article and good for her but as always doesn't provide complete transparency.. https://www.theguardian.com/money/2018/jan/27/teacher-saver-audi-tt 1) Doesn't say where in the country she lives 2) Says she has help with the deposit - but not how much. 3) Tells of the size of the mortgage but not the total value of the house. She seems like a nice person, quite down to earth; not one of those smug b*stard stories we occasionally get. But I do wonder where these people come from. If I was in that position, I certainly wouldn't go to a newspaper and offer my story. I like my privacy, and what is the point? Are these people actively sought out by data mining? The obvious motive to this story is to still try and persuade young people that it's possible to buy a house. But any sane, reasonably intelligent person would scoff at the (small) amount she borrowed being totally irrelevant in today's environment - more likely to create a backlash than not me thinks. Looking at the number of reduced properties happening in the market now, and the (slight) change in media sentiment, I feel quite relaxed about the current environment. I live on the estate this property is located on. http://www.rightmove.co.uk/property-for-sale/property-63363292.html Young couple, and they were totally taking the p*ss when first put on the market (I think at somewhere in the region of £315 or £320k). It's listed as a house but is essentially a flat above a car port with one allocated space. It's labelled as a house because it is an isolated building with just them in it. No garden...nothing. Stairs go immediately from the front door to the first floor living quarters. I'm bl**dy happy because the flat has dropped significantly in the last month to £310k and now a couple of weeks later to £290k. I still think completely overpriced - but I am loving the evidence of final capitulation.. :-) I predict will be a small steady prolonged downward trend this year. After a year of consistent reductions, buyers will be in a good place to negotiate discounts with sellers who are worried about further falls. I intend to buy towards the back end of this year, with offers 10% under asking price.
  2. So why not present the seasonally adjusted numbers also?
  3. I would expect there to be congruency between the data presented and the narrative. There isn't here..
  4. Don't understand why, when the nominal price has gone down marginally that it's a 0.1% MoM rise...
  5. Apologies if its been mentioned before. It's interesting, I can't find this article now. Click on the link and it takes you to the Telegraph's home page.
  6. Sometimes I feel positive, sometimes negative about the prospect of house price falls, and also (any) government's willingness to do the right thing and give this country the bad medicine it truly needs. Any government is facing a really difficult scenario here. Any policy that leads to significant house price reductions will be immensely unpopular and will be booted out of office before they can say 'Help to Buy'. The homeowning population might well feel sympathy for the youngsters, and even express it quite vociferously; but when it actually comes down to facing the prospect of real price falls, will they go for it? I strongly suspect not and will vote accordingly. There really is a war going on. A far far easier strategy for the government would be to attempt to change the way we think about housing primarily hard laboured acceptance of the status quo including the concept of multiple generations living under the same roof (the policy outlined above suggests the start of this sentiment). We only have ourselves to blame for this.
  7. Best article articulating how home ownership is now down to the 'lottery of life' and not hard work. What's really heartening to be reported though is the stories of resentment that are starting to appear within social circles driven by those who are able to access help and those that aren't. This never would have been reported a couple or even one year ago. Get this article out there - share on Facebook, or whatever other channel that might help the cause to get the message out. The tide really is turning.. https://www.theguardian.com/money/2017/nov/11/generation-rent-property-borrowing-from-mum-and-dad-guilt
  8. ARENAPUA

    Buy or not

    If you are very fortunate enough to buy a house that you like outright in the area that you like. And it's a house you know you will be happy in when you come back, just buy and don't dwell on the price and which way it might or might not go. You'll have a 100% owned asset earning you income. You are lucky. Very simple answer to me.
  9. http://www.thisismoney.co.uk/money/news/article-4993874/Property-gap-drives-wealth-inequality-higher-UK.html 'The IPPR said that if similar home ownership trends continue, less than half millennials will buy a home before the age of 45 – compared to over 70 per cent of baby boomers who had done so by that age.' Good mainstream article telling it how it is. Need more of these.
  10. Agreed. No debt wipe off. As is often quoted to me re House Prices, 'it is what it is'...
  11. I think the real action will be Corbyn winning the next general election. Si1 made a good point - reset is not a problem for those with nothing to lose. At the last general election, I think the young finally found their voice. Up to then, I think they felt what was the point, nobody listened to them in favour of the property haves aka old people who were more likely to vote. There has become an increasing realisation of the potential of their voting power and more and more people are becoming very angry. In many ways I think Corbyn would be a disaster. But I'm more than happy to push this reset button and let the chips fall where they may. Otherwise it will simply be more of the same. Maybe this is what is actually needed.
  12. This is the way I see things potentially going. And if it starts to become mainstream and you want to own a house, better jump on board as there is no reversal from there unfortunately.
  13. I know I've been more 'half glass empty' with the potential for drops in the current environment but it really heartens me to see articles like this not just in the mainstream press but mainstream tabloid press no less. Tide and opinion is turning, and there is a gradual, growing realisation of the devastating effects of high house prices. The article was even published in abbreviated version in The Times (which is great in itself), and referred to the Daily Mail article which is how I found it. People are slowly starting to get it - every little helps. http://www.dailymail.co.uk/news/article-4957030/Wealthy-families-exploit-7billion-Help-Buy-home-scheme.html
  14. I'm actually going to vote Corbyn even though he stands for a lot I disagree with. He and Brexit together might well be the perfect storm, but again I can't wait another 4-5 years.
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