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House Price Crash Forum

patient one

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About patient one

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  1. WE have been very patient waiting for the crash to come. Landlord called today wanting to put up rent by £20 pcm. I know it's not a lot but..... Have been keeping an eye open for anything coming up. There is a property, o/o £115,000, 3 bed semi detached. We have a 30K deposit saved and ready to go, so mortgage would be approx 3 x husbands salary. It sold for £145 in 2006 and £79 in 2001) What do we do? Do we go for it? Do we keep waiting? Am starting to think that if it is the same cost as we pay in rent then... but what if we jump too early and lose when rates go up? But would we lose, because by the time we wait another year we will have paid 60K in rent in the last 9 years? Normally are resolute in our decision to wait but we are starting to waiver and I am worried we are losing perspective. Thoughts gratefully received
  2. Of course I have sympathy with some of those who have defaulted on their mortgage but sorry I do struggle with all the moaning going on- many have been profiting whilst this scheme was paying out at the higher level. I CHOSE not to buy a house because it was unaffordable. It is pretty galling to watch those who made the CHOICE to borrow > 100% of their homes equity complain about the government now not paying them enough.
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