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House Price Crash Forum


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Everything posted by TheRivieraKid

  1. Thanks for all the replies everyone. The prospect of selling and going into rented is terrifying in the current market, so that is a non-starter. Buying first, makes sense, but I just don't have enough cash available to be able to do that. Buying the next house is a stretch, even when including the equity from the current one! I'll just have to wait around and keep hoping something comes up and, if not, I'll stay put. It's not the house I want to be in long-term, but it's definitely affordable and already decorated and kitted out to my taste. Let's see if the 15 bps base rate has any impact, although I suspect it won't make a difference.
  2. Anyone have any experience with this? I sold my house in early October, but still haven't found somewhere else in budget as prices have gone mental even in just the last few months. I've seen properties that are not as nice as mine getting listed and sold at higher prices! I keep getting pestered by my agent, naturally, but I just can't find anything suitable within budget. I've told them I'm not moving anywhere but the 'forever home' (if it ever comes on), but it will get to the point where my buyer will be paying less than market value. What to do in this god-awful market..?!
  3. Indeed. But I would have been happy with the asking price. It was already more than we were expecting. To get an extra 5% on top was a real bonus and pretty much covers all our moving costs.
  4. From first hand experience. I sold my house last month. Agent recommended listing for £25k (~5%) more than I was expecting. 18 viewings booked over two days. 5 offers from those, 4 at or above asking price. 3 of those increased their offer further when it went to “best and finals”. Sold for £25k over asking price. All in from hitting Rightmove to SSTC was 6 days, but viewings commenced on day 3.
  5. I dunno. I’ll always keep at least a couple of btc in reserves, but I’m going to need to cash in at some point to buy a bigger house. My wife thinks it’s madness and that we should cash out everything right now. She laughs when I say it’ll go over $100k eventually. I’ll never hear the end of it if I’m wrong lol.
  6. Told myself at $29k that I would definitely take *some* profit from BTC and ETH if we get back to $45k/$3k. These mental house prices are forcing me to stay in. Our house upgrade cost is looking like an extra £100k since this time last year. Gains just getting earmarked for giving to some downsizing boomer. Not cool.
  7. In my town (40,000ish population) there is only one four bedroom house available on rightmove. And if that one wasn’t so ridiculously overpriced there’d be none. As for IRs, we’re about to remortgage at 0.93% on a 2yr fix. I expect it will probably get even cheaper.
  8. It’s true. It’s just pure hopium and bias. Looking at the situation objectively, it’s the money that’s ******ed. This isn’t just a housing market thing. I want a crash as much as the next person on here (I own, but want to upsize at some point), but there’s a time when you have to begrudgingly accept the situation.
  9. Bit off topic, but my mortgage is due to be renewed soon and I’m looking at switching to interest only (5yr fixed rate at 1.14%), and investing the difference. I meet all the income criteria etc. but need to present an approved repayment vehicle. Has anyone here done this? I’m mid-30’s and my latest pension forecast shows the mortgage amount would be around 30% of my age 60 pot. Can I just tell them I’ll be using the difference to invest in ISAs?
  10. I’m genuinely surprised that Square haven’t increased their holdings since their original buys. They’re getting dangerously close to break even with the current price.
  11. Well, for starters you either include the wicks, or just the bodies. But either way you need to be consistent. You seem to include wicks at the bottom of the range but bodies at the top. Then when price has broken out of your pattern, massively, in both directions, it clearly isn’t valid anymore. How can you comment to say it “is desperately trying to climb out” when it has broken out already. Either redraw your lines to include new data, or just forget it. Don’t get upset. I said I meant no disrespect.
  12. Lmao no disrespect mate, but that’s the most ridiculous ascending triangle I’ve ever seen drawn. Total nonsense.
  13. MoM is too small of a time frame to get excited about. Let’s see if YoY ever goes negative.
  14. There’s more people there with smartphones than people with bank accounts. It seems like progress, to me.
  15. Even when you get to the final family home, you then have to start worrying about how the kids will ever afford one!
  16. Yeah. It’s gonna have to be. Hopefully it’ll somewhat resemble Q4 ‘17 lol
  17. Nah not just EAs, but anecdotal evidence from all the usual sources: here, reddit, mse forums, mumsnet forums etc etc. I’m pretty sure people are bidding silly levels.
  18. Better not be over for this cycle! I feel totally screwed to be honest. I’ve gone from Feb-Apr eyeing up second step houses (with around £170k in btc/eth at the time, and on the up), to now hearing of people bidding up £50k-£75k over asking price, and my holdings down to under £100k. I’ll honestly be lucky if I get a place without having to get a bigger mortgage! Do I just abandon the idea of moving house for a few years, and ride out another bear cycle? My wife won’t be happy.
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