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House Price Crash Forum

StuffIT

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About StuffIT

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  1. There is of course always a flip side. Ive said before how being out of work holding alot of cash from the sale of a property is not a good position to be in. I am still actively looking to buy, most recently putting an offer on a repo and being outbid (again!). Having an STR fund that is eaten away with low IRs, no JSA after 6 months and full ctax along with high rents is not a good position to be in. If I can I will buy (mortgage will be less than rent) and hide some cash so I can at least claim something when redundancy occurs yet again, like many ive learnt that you have to play the system, holding debt in todays UK is good, holding cash is not.
  2. Of course how dare anyone rent on a newbuild unless you have kids and like to be hassled by other peoples kids anytime they so wish - you sound like a right plonker fella. If you read my posts you would see that I mentioned that there are facilities for the kids to use, they simply choose not to use them. Do you have kids? You sound like you do as you appear to have the attitude that kids can do what they like with impunity for anyone else, how dare people complain about children. We should all do what the kids want ..blah blah blah .. ya knobber. Like alot of people I rent newbuild as from a rental perspective their well insulated and modern and over 90% of rentals in this area are new build.
  3. Yadda, Yadda, Yadda - I wondered when this old chestnut would be rolled out. I have no problem with kids being kids, I do have a problem with the little darlings spending the majority of their time outside my window having screaming contests making a relaxing day/evening unobtainable. Dont ya get it? Their not outside their parents houses, their parents dont want to put with the little darlings all day screams and yelps, they much prefer them to be bothering someone else. There are green spaces within 100 yards put their for the kids, but the kids prefer to run around peoplese gardens/drives as much more fun. I used to play in the street as a kid the difference is I was taught boundaries these kids have none and yes I do blame the parents, all kids aren't the same but I never really gave kids much thought until I moved to where I am now - real eye opener for me.
  4. Having worked and lived in more than three countries in europe I can assure you that attitudes to children are different. But guess what? The kids are taught boundaries, if they impede on other peoples quality of life they are either taught not to by the people they are impeeding on or by society in general. I fondly remember kids jumping to their feet to let elderly passengers take a seat on the bus. There is a distinct difference in the UK with kids, in the UK I really get edgy around kids, I dont want to be seen near them or even smiling at a kid who is doing something funny or smiling at you, I never felt like this in other countries and I think its getting worse. In the UK we have a society which is frightened to teach children boundaries and right from wrong, parents have even been subjegated for lightly smacking a child. This has resulted in a society where kids rule the roost, whether you like it or not many adults feel powerless against children. Im not afraid of children, teens or generally nasty people. I have no problems with kids and kids being kids, but please dont inflict them on me
  5. Ive got to disagree with you on the kids front, I never used to give the 'impact' of kids much thought when looking for a place to live, unfortunatley thats all changed in my latest rental. I rent on a new build estate and I am for want of a better word for it 'plagued' by young kids, the parents have no problem in inflicting their little darlings on everyone else in the road. I regulary have 3 - 5 kids, usually young girls from ages 5 - 9 shouting and screaming within 5 feet of my lounge window, the parents dont give a toss. At one point this summer it was like a mini riot in the street, I went to the supermarket to get some peace. The kids dont respect boundaries as the parents teach them none, and as a single man I certainly cannot be seen to be even asking kids to move on in this day and age. I see more and more parents letting their kids do what they want without thought for anyone else, the landlord of my current rental has mentioned to me that he would 'prefer' not to rent to people who have kids and to be fair I would agree. Thankfully im now looking to move again with the impact of other peoples kids being a big factor on where I move to.
  6. I can't knock Wetherspoons, a local near to me was recently bought and re-opened as a Wetherspoons two weeks back. Was in there yesterday, Sausage, beans and chips £2.99 and a pint of a locally brewed porter was £1.99. It was clean, warm with nice decor etc. Compare that to the previous regime which only served lager's at close to 2.80 a pint with bad decor, expensive food and crap toilets. To be fair its becoming increasingly difficult to get a decent pint these days, but JDs do have a good range of ever changing real ales and generally know how to look after their beer.
  7. Ive been seriously looking to purchase a house over the last couple of months. Ive mentioned the reasons previously sometime ago, currently out of work with little decent paid work about, lots of cash in the bank and paying approx 500+ more per month than I would do owning the equivalent house. Ive been looking in merseyside and its complete madness at the lower end of the market with some houses literally flying off the shelves! Im not trying to ramp it up but some examples of recent offers ive made are: * 130 priced house (needs plenty of work), I went up to 117k, offer rejected, EA said they had higher offers and they wanted 125k. Months later the house is still being marketed. Vendors are 'in no hurry to move'. * Repo: priced at 95k, others in the road sold at 110k in 2006 & 2007. Needed work as the previous owner had damaged the property. I offered 80k, an offer of 90k had already been placed. * Other houses that are repo, probabate etc that have prices of 20% off peak but need work are literally selling like hot cakes. Some of these are in really bad areas and really poor properties that I wouldnt offer anything on. Dont know who is buying these, I can only think that many look at the 'asking prices' of other similar properties and think they are getting a bargain but many of those other properties have been on the market for 12 - 24 months. Madness! I cannot understand what is happening, maybe there are lots of other buyers in my position I dont know. But loathed as I am to see my cash spirited away I wont pay the prices that most of these properties are currently attaining.
  8. Spot on. Everyones situtation is different and none of us know what will happen tomorrow nevermind in 1 -> 2 years time, so we must make the decisions that we believe are right for ourselves at that time. Its a shame that not everyone sees it that way and thats what I think is still one of major UK problems. A lot of people view property purely as something you either 'win' or 'lose' on rather than a secure roof over your head. When property comes back to realistic levels hopefull the 'house as a home' sentiment will return. As I also 'STR'd I would hopefully be less hit by a further drop if I was to get something 20 -> 30% off peak levels.
  9. If I was still in employment then I would not consider buying at present even with interest rates so low. Its the 'how long is a piece of string' argument that I mentally battle with, when will that job offer happen, when will your income improve etc etc. It could be that I am trying to get some control of the current situation. I dont want any of my posts to appear that I am urging people to buy, as tbh its the complete opposite of what I would do if I was still in employment.
  10. I certainly believe houses have some way to fall, I do believe that the govt will attempt to inflate itself out the mire as much as possible with inflation increasing but house prices remaining at stagnant levels. The key question is as you say 'find a crappy job ..' which I agree with. Im applying for anything at present nationwide where I believe my cv wont simply hit the bin but alas nothing is happening at present. The problem for me this time around has been finding the 'roles' to apply for. As the days go by I become more like Yozzer Hughes and question other peoples jobs thinking "I could do that". I'd happily do anything that covered the bills but being from a professional background I know that the more manual/labour intensive work will in most cases go to people more experienced in those fields and rightly so. I just think that with reduced monthly outgoings I need less to live on and hence can take more of a hit again salary wise.
  11. You've put that much better than I could have done - thanks I am tbh 'scared' that my income stream will continue to reduce and become 'patchy' year upon year. Ive been out of work before but when it happens again you start to see your future in a different light. I can continue to chase those jobs up and down the country for smaller salaries in more expensive areas, but there comes a time when I just think that some security and being able to put down some 'roots' could be a good way to go. I am also only interested in property that needs some tlc where I can get at least 20% off peak.
  12. It would get a below avg semi or even a link detached (very small one) in the areas im looking at (north west england). These aren't 'rough' areas, maybe not the best but perfectly habitable. These are 'fixer-uppers', property thats pefectly fine but needs some tlc etc.
  13. I tend to live a frugal lifestyle as it where, the following is what I was thinking of: House Costs Rent 0 Council Tax 106 Basics Gas 40 Electric 40 Water 30 BT 35 Mobile 5 TV Licence 12 SKY 18 Food & Social 300 Other Gym 30 Misc Extras 60 Car Insurance 40 Tax 20 Maintenance 30 Commuting Costs Petrol 40 Total 806 That provides a basic living (with the odd perk) with no contingency or money to put away. But a wage of cica 20k would then provide those sums. As I say theres no 'yes or no' answer to this one, I was just interested to get other peoples input.
  14. Thankyou - yes I joined in 2006 The loss of flexibility is an issue and thats what keeps me renting at present. However if I own outright then ive always a 'bolt hole' as it where with minium bills to pay if I need to get digs elsewhere. Ive moved quite a bit for work but that in itself causes problems, and as I get older I think a 'base' is not a bad option to have. TBH as a single bloke with cash in the bank, I know that Gordo and his chums and any other govt would sacrifice me first before anyone else and maybe im just after a bit of 'security' as I mentioned previously.
  15. We've all been looking at the increase in sales recently and the much reported 'bull trap'. Im convinced that for some people it might actually be a good time to buy depending upon your own circumstances, I fear that I am one of those people. I'm an STR having sold in late 2006 following relocation to gain employment, subsequently ive been made redundant again with little or no roles that im able to apply for at present (cue violins). I used to get over 500pcm in interest which of course offset the rent, but now this has dropped to just over 200. I seem to be in the position at present where its better for me to buy than rent and I wonder if any other readers of this site are in this curious position. Let me provide some info and figures: Current Bank Balance (total cash wealth including STR): 140k I claim JSA (contribution based), which ends in a months time at which point I cannot claim any benefits (except the NI contribution - approx £7 pw). I am looking to buy a properdee in an area that I know well for approx 20 -> 30% off peak. Im budgeting for 110k. This wont buy a dream properdee but would buy something that 'ticks enough boxes'. I estimate the purchase would make me £420pcm better off on a monthly costs basis than at present i.e. against a similar rental properdee minus my interest on the cash. As much as I dont like the idea, as I do believe properdee is still overpriced, I think that I need some 'security' rather than cash in the bank which will be wittled away on someone elses mortgage etc. Ive also worked out that an income of £800pcm after tax&NI would provide a comfortable living wage providing a bit more work flexibility. I'd be interested in peoples opinions on this.
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