TheRivieraKid

Wow. Some real aspirational stuff there, Warlord. 😂

😂 You’re deluded mate. Best of luck to you.

Maybe look at house prices vs gold, or bitcoin, or equities, or almost anything other than cheap fiat.

Even if you’re right, prices do crash and I end up in negative equity, so be it. I have no plans on moving home, a healthy amount of equity, and a decent fixed rate. Successive UK govts have proven they will defend homeowner interests at all costs. It’s wrong, and I don’t agree with it, but it’s better to be positioned on that side of it.

When I first found this forum I bought into it all. It all seemed logical, or course prices are too high and of course they’re gonna crash. Until the penny finally drops when you realise that any proper asset measured in sterling will be rising. >£700bn of QE helps. Anyway, you guys do what you like. I’d be salty as ******, too, if I’d been on this forum for 13 years with 31,000 posts, watching all the ‘feckless’ normies getting on with their lives whilst enjoying asset appreciation.

This is genuinely sad. It’s awful that you feel this way. Unfortunately, you need to wake up to the reality that prices are unlikely to crash. There will be a global currency devaluation coming along with rampant asset inflation. The beneficiaries will be those with big mortgages. You’ll be on the sidelines shouting abuse still. You should just buy somewhere whilst you still can.

You could be right. These forums have been saying it for the last 10 years, at least. Not been correct yet. I think a crash is coming, but not for several years yet. Before then it’ll be rampant inflation. Sterling is done for.

Grab a dictionary. ”Decimate” 1. Kill, destroy, or remove a large proportion of.

The winners in all of this will be those carrying large amounts of debt in sterling i.e. mortgages. Sure, I think in a couple of years it will be easier for FTBs to get on the ladder, but in the meantime people's mortgage obligations will be decimated through inflation. I can't see another way out of it all, sadly.

Exactly this. Why piss off the nation with a wealth tax, when a perfectly good stealth tax will do. Most people don’t understand how monetary inflation affects them, and the govt don’t need to legislate for it.

Anyone got a source for Nationwide predicting -13% EOY? Thanks

I am desperately, desperately hoping for a proper crash in prices, but I honestly just can’t see it happening. Government debt due to this crisis will be astronomical. I can’t see how they will decide to be frugal, maintain the value of the currency and increase taxation. Much more likely to inflate the debts away. That, or just have a full reset i.e. a debt jubilee. The latter option is the one that keeps me awake at night. The thought of debts being forgiven in a large global jubilee, and me sitting on the sidelines in my rented house. ******ing scary.

Surely this only affetcs people buying before April 2017? When the ex chancellor announced the Lifetime-ISA he said members of HTB ISA schemes could transfer in, both capital and bonus amounts. These begin April next year. The LISAs also have a more realistic purchase price cap and no limit on maximum gov. top up.

A 10% drop in my area would bring the family homes we desire into the 'affordable' bracket. However, if I see that kind of drop in the near future I'll be tempted to hold out for a little longer. The target I have in my head is 2019/20

I totally understand your resentment towards the older generations. I suffer it to. Every day when I walk kids to school through the treelined streets of nice family 4 bed detached houses. You see the retirees out manicuring their gardens and all I think to myself is "can you not please hurry up and die to free up some of these places". It's a horrible way to think. I'm actually a very nice person. This is what the market has reduced me to!