sta100

Also, I hope you're the first rung of the ladder otherwise your buyer has you over a barrel...

I totally understand this. However, you do have some when you've been in the chain for several months and about to miss the stamp duty deadline.

I was thinking the same thing, "pull out" is the standard reply, houses are worth a lot more!

Surely in many instances the top of the chain sitting on 500k+ of hpi can drop 15k to get the sale through. Are people really this stupid?

It's "their money" rather than some borrowed imaginary money, and also the house isn't a 'bargain' anymore because they have to pay stamp duty - big psychological difference.

When there's been a continual incentive to borrow this is the result, spend 500k on a house and they literally leave themselves with a few thousand of savings.

https://www.rightmove.co.uk/properties/86719501#/ Here ya go, on market for 290, sold for 319k in 2019. Fill yer boots lol

London flats are effectively crashing as we speak. End of furlough will increase unemployment. I think the market is on a cliff towards a downward spiral.

So what you're saying is that this is the first time in history where unemployment has massively risen without a house price correction? New paradigm then...

Up 170% this year as the bottom rung gets kicked away. Followed by mass homelessness. Looking forward to being able to pay a street urchin 1/100000 of a bitcoin to carry me about on their shoulders all day.

I also faired pretty well financially, but in the grand scheme of things I've come off really badly this year because none of it is worth anything in this ridiculously broken system.

He'll be the first to complain when he has to pay 500 quid to get a Dr's appointment

Well, I just can't imagine what your identity would be if it turns out that HPI is just a cancerous ponzi scheme that's screwed up society. Surely the ego would be particularly scared if all those gains were wiped out tomorrow.

Not just FTB'ers is it, rush to buy something to save 15k, that's gone up 50k. Bit like that eat out to help out craziness, save a fiver, but you might catch a deadly virus.

Twenty thing I didn't buy a house in 2007, invested in a business instead and created something real. Now do I not only have enough money to buy something decent in cash, I didn't make it sitting around doing naff all. Even if there's a massive HPC I can go out and generate more wealth, so no wonder people like you are constantly crapping it.