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House Price Crash Forum

ucnvpe0

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Posts posted by ucnvpe0

  1. 54 minutes ago, rantnrave said:

    Data out this morning.

    It's not a question of whether it will be up, more like whether it will be up more than 2% like the Nationwide figures...

    :ph34r:

    “House prices in April eclipsed the record high set the month before as the market continued to maintain its recent 
    momentum. The average property is now worth £258,204, up 1.4% month on month and 8.2% annually, the highest 
    annual growth rate in 5 years. In cash terms, almost £20,000 has been added to the value of the average home since 
    the market had essentially come to a standstill in April 2020".

  2. 17 minutes ago, Pindar said:

    I get the feeling that people are blissfully unaware of the pace of change in personal transport and will be shocked at how quickly private car ownership will be rendered obsolete. Self driving cars are coming onto roads near you this year, whether you like it or not. Regulations and punitive terms to obtain insurance on a driver operated car will make driving a car seem like a dangerous sport. 

    I heard similar things prior to the implementation of smart motorways. Where will the funding for the technological change come from?

  3. On 06/05/2021 at 14:39, Dorkins said:

    The housing equivalent of this is a pre-Boomer/Boomer going on about how hard it was financially when he was a first time buyer, then you dig a bit deeper and find out this all happened when he was a 20 year old still at the bottom of the wage ladder in his field, his wife was a stay at home mother and they were buying a 3 bedroom semi on his wage alone.

    I've heard this from a boomer before.

  4. 1 hour ago, Will! said:

     

     

     

    Exactly.  Exposure to as many opportunities as possible in the time available is very important.

    This lab was at Cambridge.

    I've seen this feature in the healthcare professions. I'm a case example of it. Even now as a adult, the large majority of roles featured on job portals are full of jargon. It's very hard to tell what each job actually entails.

  5. 48 minutes ago, scepticus said:

    Well they don't, and in any case minds can be changed when still young, and when there is still plenty of time. However certain choices, like not taking any STEM A-levels, significantly rules out much (but not all) of the 1st estate and a good portion of the 2nd estate. 

    My main goal is to make sure my kids know the facts and to set expectations to avoid disappointment and surprise in future. I don't mind if they follow in my footsteps or not or whether they make less, as much as or more than me, just to know the facts and consequences of their choices.

    I also think it'll be helpful to associate these salary bands with a picture of a house they could afford. We are lucky enough to live in a nice house, and I worry they are already forming unrealistic expectations of what they will be able to get (without recourse to the Bank of MandD).

    Whether they will be happy or not depends on what the future brings, on their EQ and personality, common sense and all the life skills erat_forte pointed out, as well as their chosen career path and their earnings.

    A few of my thoughts:

    1. Exposure. Children are more likely to pursue sectors in which their parent works. Sort out shadowing opportunities for some of these roles.

    2. Don't neglect interests. A high paying job which someone hates is unlikely to be sustainable. There needs to be some balance.

    3. Salary isn't as important nowadays. Wealth and inheritance has a bigger impact on the long term (my view). E.g a 30 year old earning 100k vs another earning 50k without a mortgage. I rather be the latter.

    4. Unrealistic expectations are very common. Life is changing. Jobs which were easy to get have now become very competitive. It's a globalised world.

    5. Careers will become more choppy/diverse. I think the 'job for life' / straight path career days are over.

  6. 4 minutes ago, Huggy said:

    Regret buying what though? There's a mobile home near me, 2 bedrooms, on sale for £225,000 right now. I could buy that with cash. Don't fancy getting into debt to get something better really, sounds a bit dangerous in these strange times 😉

    Do I regret not buying it now it's 'worth' just under £230k? No. We're just another month away from what needs to happen actually happening, I can remain solvent longer than the market can remain irrational.

    Enough of this bad news though. Have you seen what's happened to Bitcoin? I know there are people here who regret not buying that 😄 2.1% gain in one month? LOL, FOCL, LMFAO, PML etc.

    Huggy- we all know you are a millionaire 😄. How many people under 40 have over 200k+ cash sitting around?

    Agree Bitcoin is one of the few ways out of the current mess.

  7. 11 minutes ago, btd1981 said:

    It's mental. It will come home to roost for people that are celebrating all of this when their kids grow up and face a massive and avoidable hurdle to getting on with their own lives.

    It's a tale of two cities and has been going that way for a long time. People with large inheritance will thrive. The rest will become serfs or navigate through the little opportunities that remain.

  8. 5 hours ago, Eddie_George said:

    Net immigration is circa 300,000 per year.

    That's a city the size of Newcastle every year.

    That's a city the size of Birmingham every four years.

    That's a conurbation the size of Greater Manchester every decade.

     

     

    What is the best solution to the problem you describe? What if no political parties changes their approach in our lifetimes?

  9. These are not new. Agree or disagree?

    The housing crisis that Britain faces – which is bearing down most heavily on younger cohorts but affects all of us – is so acute that no single solution will be enough. Action on three fronts is required.

    In the short term, with the private rented sector now a tenure in which millions of children are raised and in which more people will spend retirements in future, it is essential to address its poor record for security. We recommend that indeterminate tenancies should be the sole form of private rental contract, with light-touch rent stabilisation limiting rent increases to inflation for three-year periods and disputes settled by a new housing tribunal.

    In the medium term, we need to rebalance demand so young first-time buyers are in a better position compared to those buying second or subsequent homes. We recommend replacing council tax with a progressive property tax with surcharges on second and empty properties; halving stamp duty rates to encourage moving; and a time-limited capital gains tax cut to incentivise owners of additional properties to sell to first-time buyers.

    In the long term we need to build more homes, year in, year out, in areas of strong housing demand, while increasing the number of affordable homes, to reduce housing costs. We recommend piloting community land auctions so local authorities can ensure more land is brought forward for house building, underpinned by stronger compulsory purchase powers; and a £1.7 billion building precept allowing local authorities to raise funds for house building in their area.

    https://www.resolutionfoundation.org/advanced/a-new-generational-contract/

     

  10. 12 minutes ago, PeanutButter said:

    Where’s the cartoon of the Bitcoiner spending hours online haranguing people to buy into the same thing they have? Or insinuating anyone not in their cult is stupid? 

    But seriously, don’t you lot ever get tired of yammering about this twaddle?

    It's light hearted fun. To be fair, the whole website is found upon that behaviour. I have been haranged on here for buying a house, not expecting a HPC and not joining the 'HPC cult'. 

    Others outside of this website also say "But seriously, don't you lot ever get tired of yammering about house price twaddle?"

  11. 6 minutes ago, shlomo said:

    ......and now?

    The original poster is neglecting three points about "opportunity cost".

    1. The size of the opportunity cost for buying a house is dependent on a wide range of personal variables.

    2. The OP does not factor in the non-financial benefits of home ownership.

    3. He accuses others of being estate agents but he is the one encouraging people to divert their hard earned money to BTL leeches. Long term renters are what landlords dream about.

  12. 21 minutes ago, jiltedjen said:

    I would argue its easier to be a Holder now. The risk is lower these days but in saying that the potential short to medium terms gains are are also much lower.  

    Maybe 100-150% gains which is great, and basically beats everything else. but unless your willing to hold 10+ years you might not see more than that. to make 10k you have to have 10k on the line, its no longer a few hundred invested will turn into 100k like the old days.

    The days of buying Bitcoin for £15 are long gone.

    I personally think the long term holders by their nature are very bullish, but few ever seem to pause and ever say 'its looking overheated', almost blind bullishness. 

    I don't think any new buyers will experience what few on here have experienced. 

    There were periods on this thread which went on for months, where there was maybe 1 or 2 bulls, and endless attacks from no-coiners, i dont think those days are coming back, there was the endless fights with worthless alt-coin investors, who never seem to learn etc, its been hard being right when your faced with soo many people who are wrong.

     

    Why do you spend so much time justifying your decision. You have nothing to prove and don't need anyone else's approval. At the end of the day, everyone (including you) hype things until you cash out on your personal moon. Pretending it's anything more than that is pointless. 

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