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Marcus Barton

Now Is The Time To Buy

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For everyone who has boldly exclaimed "I will wait until everyone says it is the worst time to buy, and then I will buy", well here we are. The recession is official and everything is tanking faster than expected. If you were serious about that statement then buy now, because most people honestly couldn't think of a worse time to buy, therefore it's your time.

I'd like to hear some opinions on this.

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For everyone who has boldly exclaimed "I will wait until everyone says it is the worst time to buy, and then I will buy", well here we are. The recession is official and everything is tanking faster than expected. If you were serious about that statement then buy now, because most people honestly couldn't think of a worse time to buy, therefore it's your time.

I'd like to hear some opinions on this.

I'm waiting for the depression to become official.

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For everyone who has boldly exclaimed "I will wait until everyone says it is the worst time to buy, and then I will buy", well here we are. The recession is official and everything is tanking faster than expected. If you were serious about that statement then buy now, because most people honestly couldn't think of a worse time to buy, therefore it's your time.

I'd like to hear some opinions on this.

i've never, ever, heard anyone make a statement along the lines of, "I will wait until everyone says it is the worst time to buy, and then I will buy". why would they? it makes no sense whatsoever.

are you referring to something along the lines of, "wait until the last bull becomes a bear, then it's time to buy" or similar? well we're clearly not there yet, with up to around a quarter of the population by my reckoning still in outright denial.

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When you say now - what do you mean, exactly?

Next weekend?

A fortnight this Tuesday?

Blimey, my response is - you must be joking, surely? I take it you watch the news 'n that?

The price of property is going to trickle down for a good while yet. Buy in a couple of years when it's cheaper - unless there's some compelling personal reason you need to buy a house right now.

I mean - 'kin 'ell'

S'obvious innit?

Edit - Please, someone let me know if I'm missing something. I'm really not all that bright.

Edited by simpleton

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For everyone who has boldly exclaimed "I will wait until everyone says it is the worst time to buy, and then I will buy", well here we are. The recession is official and everything is tanking faster than expected. If you were serious about that statement then buy now, because most people honestly couldn't think of a worse time to buy, therefore it's your time.

I'd like to hear some opinions on this.

Fill your boots. Maximum gearing, lie about your earnings. Oh, and put the order in on the Bentley continental now, before the rush.

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For everyone who has boldly exclaimed "I will wait until everyone says it is the worst time to buy, and then I will buy", well here we are. The recession is official and everything is tanking faster than expected. If you were serious about that statement then buy now, because most people honestly couldn't think of a worse time to buy, therefore it's your time.

I'd like to hear some opinions on this.

Whatever the outcome for the housing market in the UK, I think it will be due to exogenous factors (inflation, deflation, recession, interest rate rises, whatever). On its own, the housing market is well and truly 'cooked', and that would be for a generation. Internal market factors such as market psychology are meaningless compared to mortgage availability, affordablity, rates shooting up or, on the other side of the coin, inflation accelerating.

Interestingly, I still hear relatively _lots_ of people trying to 'time' the market bottom or saying property is cheap. The type of psychological change you refer to does not establish itself overnight I think. It would take a long time (at least years?) for people to go from 'property never goes down, I'll invest my pension in it' to 'property is the worst investment you could make, never invest in it'.

In the 1990s, I remember people last saying the former in 1990 and saying the latter from 1994 onwards. 4 years!

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For everyone who has boldly exclaimed "I will wait until everyone says it is the worst time to buy, and then I will buy", well here we are. The recession is official and everything is tanking faster than expected. If you were serious about that statement then buy now, because most people honestly couldn't think of a worse time to buy, therefore it's your time.

I'd like to hear some opinions on this.

You're barking. What people meant by that kind of statement is that the time to buy is when the market has crashed, property is relatively cheap, and no-one is interested in buying property.

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For everyone who has boldly exclaimed "I will wait until everyone says it is the worst time to buy, and then I will buy", well here we are. The recession is official and everything is tanking faster than expected. If you were serious about that statement then buy now, because most people honestly couldn't think of a worse time to buy, therefore it's your time.

I'd like to hear some opinions on this.

I take it you dont have any viewings tomorrow, hence the late night.

Nice try. ;)

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For everyone who has boldly exclaimed "I will wait until everyone says it is the worst time to buy, and then I will buy", well here we are. The recession is official and everything is tanking faster than expected. If you were serious about that statement then buy now, because most people honestly couldn't think of a worse time to buy, therefore it's your time.

I'd like to hear some opinions on this.

My opinion is you're talking complete shite.

Now is only the right time to buy if you believe the following...

1 - The recession will be 'V' shaped.

2 - We are near the bottom of that 'V'.

3 - Interest rates will remain extremely low.

4 - Wage inflation will pick up to at least 5% pa for the forseable future.

Hell, I'm a rank amateur, but even I can see that belief in the above assumptions would require repeated blows to the head, followed by a three-egg magic mushroom omelette.

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Fill your boots. Maximum gearing, lie about your earnings. Oh, and put the order in on the Bentley continental now, before the rush.

And dont forget, Northern Rock have got £50 bill to lend to hard working families, so make sure you contact them for the 125% advance.

They might repo you 4 months later, and they might pay their incentivised pen pushers £9mill in bonuses to do it, but it'll all work out......theyll lend you another £100k next year.

You'll see.....

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Oh, I missed one...

5. That there will be no rise in the cost of living as far as imported goods are concerned. Based on, quite frankly, exceptionally good personal annecdotal evidence, the cost of imported gubbins (i.e. everything you see in Currys, plus a whole load more) those costs are at the start of a "double digit inflation" year. Think LibDem economy \ finance bloke, and that'll give you a pointer as to why.

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For everyone who has boldly exclaimed "I will wait until everyone says it is the worst time to buy, and then I will buy", well here we are. The recession is official and everything is tanking faster than expected. If you were serious about that statement then buy now, because most people honestly couldn't think of a worse time to buy, therefore it's your time.

I'd like to hear some opinions on this.

Now is the time to sell. IF YOU CAN. ;)

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For everyone who has boldly exclaimed "I will wait until everyone says it is the worst time to buy, and then I will buy", well here we are. The recession is official and everything is tanking faster than expected. If you were serious about that statement then buy now, because most people honestly couldn't think of a worse time to buy, therefore it's your time.

I'd like to hear some opinions on this.

I'm sorry, but this country appears to be a poor choice for which to borrow a stupid mortgage to live in for the next 25 years. It's just not worth it. If I'm still around in 5 years' time, I'll be waiting for the next generation of houses to be build, when basic building standards have been sufficiently increased for starters.

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For everyone who has boldly exclaimed "I will wait until everyone says it is the worst time to buy, and then I will buy", well here we are. The recession is official and everything is tanking faster than expected. If you were serious about that statement then buy now, because most people honestly couldn't think of a worse time to buy, therefore it's your time.

I'd like to hear some opinions on this.

If your telling us it is a great time to buy then it isnt the best time yet? In the last trough if you suggested you were going to buy a house people would look at you and think you were a madman. If you tell somone your going to buy a house today they eitehr tell you to wait or to get a 10/20% discount... :)

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If you were serious about that statement then buy now, because most people honestly couldn't think of a worse time to buy, therefore it's your time.

Why buy now when I can rent for another year for £6000 and see the average house price fall by another £35,000?

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http://www.google.com/hostednews/ukpress/a...mZ7ro8LMuga9MSQ

Nicholas Leeming, director of propertyfinder.com, said: "First-time buyers are the bedrock of the housing market.

"Lenders are squeezing the life out of the housing market with the extortionate mortgage rates they are demanding from those wanting to get on the ladder.

"Thousands are champing at the bit to take advantage of lower house prices, but simply can't get a mortgage. It's no wonder first-time buyers are now an endangered species."

Still cheaper to rent than buy for a FTB. Without including falling asset values.

Edited by dazednconfused

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Sentiment is a funny thing .... it can (and probably will) turn relatively quickly...when greed and fear of getting left off the housing ladder become concerns once again.

So ... the OP is correct in suggesting that the best time to buy is when sentiment is at its worst... but that is not a given day or week or even month. We are not there yet .. but there will indeed be a good time to jump back in.

My guess is that in 12-18 months time will be about right.

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Oh, I missed one...

5. That there will be no rise in the cost of living as far as imported goods are concerned. Based on, quite frankly, exceptionally good personal annecdotal evidence, the cost of imported gubbins (i.e. everything you see in Currys, plus a whole load more) those costs are at the start of a "double digit inflation" year. Think LibDem economy \ finance bloke, and that'll give you a pointer as to why.

Just been for my weekly shop, I have noticed that quite a few items of fruit and veg have gone up in price. Closed Cup Mushrooms (from Ireland) were 79p now 99p, tomatoes basics were 60p now 79p (from Poland).

Now I am sure there is some profiteering going on here but it is also due to the sinking pound and the way we have recklessly run down our farming industry.

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For everyone who has boldly exclaimed "I will wait until everyone says it is the worst time to buy, and then I will buy", well here we are.

Hi Marcus, hows your property empire? (From last year)

Don't hate me, but I own my flat and am already a resident landlord.
Hi, everyone. I'm buying a 3 bedroom terraced house in Woolwich (check Google Maps if you want to see it exactly, SE18 5AN) for £210K. Is this a smart purchase?

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For everyone who has boldly exclaimed "I will wait until everyone says it is the worst time to buy, and then I will buy", well here we are. The recession is official and everything is tanking faster than expected. If you were serious about that statement then buy now, because most people honestly couldn't think of a worse time to buy, therefore it's your time.

I'd like to hear some opinions on this.

There's certainly been quieter bulls recently, but they are still there. They aren't telling me to buy any more (at least if they know me) and I don't have anyone teasing me any more about the fact I'm out of the market. However I'm still hearing others being told that this is the best time to buy. There are still a lot of people who think that prices will simply snap back soon.

I'm definately getting ready to bale now that I can afford a decent house without taking a mortgage, and I've already put in a couple of cheeky offers. However, there will still be job losses forcing houses on to the market, and who knows what will happen to money creation once the election is over? So near asking price offers are not in order yet.

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There really is no rush.

House prices will be falling for years to come and, when they do level off, they'll scrape along the bottom for years more. Just look at the house price graph on the front page of this website and see what happened after the 1990 crash.

What won't happen is house prices suddenly shooting back up to ridiculous levels, leaving frustrated buyers punching the wall and saying "If only I hadn't hesitated that one extra week!"

If prices keep dropping and I feel it's the right time to buy a place (suitably discounted),then I will. If you're really waiting for the market to hit bottom, keep monitoring prices and start to think about buying once there's been a 6 month period where prices seem roughly stable (i.e. not obviously getting any worse).

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For everyone who has boldly exclaimed "I will wait until everyone says it is the worst time to buy, and then I will buy", well here we are. The recession is official and everything is tanking faster than expected. If you were serious about that statement then buy now, because most people honestly couldn't think of a worse time to buy, therefore it's your time.

I'd like to hear some opinions on this.

Margaret Becket says its a good time to buy. Shes in government. they know things.

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  • 284 Brexit, House prices and Summer 2020

    1. 1. Including the effects Brexit, where do you think average UK house prices will be relative to now in June 2020?


      • down 5% +
      • down 2.5%
      • Even
      • up 2.5%
      • up 5%



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