Martin_JD

That's the point - Many will still be bound by the income multiple.

OK, Thanks.

I'm not sure how much difference that makes in comparison to the fact that you now have two wage earners per house hold, so double the earning power/double the mortgage repayment/double the house price.....I think this is a big factor in why house prices have accelerated over the last 30 years.

Is UK Average weekly earnings on your graph taking into account both parters in a couple working full time? Surely this wasn't the case way back in the 60/70s like it is today?

OK I see, this is making a couple of assumptions, the first is that you're at the banks max LTV, second is that you're not at the top of your income multiple as allowed by the lender.

I'm don't understand this. Can you explain? How is this tied to the stamp duty saving?

I'm buying at the mo. I dont see prices dropping by a large amount any time soon, more a period of stagnation. Perhaps i'm mad. 🤪

Good on you, go for it. Life is too short to wait for a mythical crash some on here are permanently waiting for. Sounds like you're doing the right thing for you.

I'm buying at the moment. We've found a great home after looking for ages in a location that rarely comes up for sale, it's the right house for us and we're planning to stay in it long term.

Yeah i suspect that's going on.

Sure. Looking at around 700-850. No problem getting a mortgage, even though we're pushing over 5.5 x our income multiple. Was actually surprised they'd lend us what they did, although our offer was a couple of months back now and we have a very good broker. Neither of our jobs are effect by Covid, yet..... The house we're in the process of buying is pretty unique, so we're going for it. I'm not sure i would be comfortable splashing out on a "standard" 2 up 2 down at the moment. Guess we'll see what happens.

agreed, im buying at the moment.

this is an intresting article also from the times: https://www.thetimes.co.uk/article/getting-a-mortgage-should-not-be-a-gladiator-fight-zsth7v7bf If the mortgage market remains closed a crash is 100% on the cards in my view.

i wouldn't of thought they'll get asking then. flats are proving hard to shift post covid.

Still no sign of this crash happening in the areas i'm looking at....

did you offer asking price at 162K?

Oh I agree, i'm very lucky and the housing market is fundamentally broken in the UK.

Oh sure, our house grew in equity since we bought it in 2013. Now it's sold we've not been able to use that to by a more expensive place, but i don't claim to have made this gain through any insight of my own.

I'm going a head with a purchase right now, call me crazy, perhaps i am and we shall see, but it's the right house for us, in the right location, at the right price.

I see it's on with Chancellors, lol. Hold tight for the price reduction on that. No way that's going to sell for 395, i know that area well.

I suggest you widen your search then or else you'll still be on here in 10 years time.

Prehaps if you spent less time and money on this you might be in a better position to buy a real house

The phrase "even a broken clock is right twice a day" springs to mind when I look at that graph.

Very well put, and an accurate analysis. I think this narrative that house buyers are "sheeple", morons and "debt junkies" is just bitterness from those who have missed the boat.

spunkos website? No what's that?