That's It - I Quit!

[Slumpmonkey Returns]

In 2005 Mrs Slumpmonkey and I started looking for a house in Coventry. Typical three bed terrace houses in crappy areas cost £125,000. We had a mortgage in principle - it was a three times combined salary one hundred per cent mortgage from Novern Crock. We found a house we wanted and nearly exchanged but pulled out when we learnt that the vendor had not disclosed that she did not have planning permisson for the extention. We carried on looking for other houses but then I became suspicious that a three bed house should not be "worth" six times my income and I came upon this site.

I became convinced that there had to be a HPC and I was not going to play the silly game of "getting on the housing ladder." I convinced Mrs Slumpmonkey to wait for the crash. She was sceptical at first but she stood by me when all our friends were jumping on the "housing ladder" in 2006 and 2007 with massive mortgages. We went to their house warmings and were constantly asked "when are you going to stop paying dead money" and other cliches - but we held firm.

Then in October 2007 Northern Rock collapsed and house prices started to dive. I was so happy and I felt vindicated. I was sure that the denial period would only be brief and I convinced the missus to hold out to Summer 2009 - 18 months after the first declines started.

However, I did not expect that the denial period would last so long and I never really expected that McStalin would bankrupt the country in order to stop his pyramid scam from collapsing.

18 months on and vendors are still asking £125,000 for crappy three bed terraces and McStalin has thrown everything but the kitchen sinks at his ponzi scheme to get re-elected. Furthermore, the media and the brain-washed masses are still massively in denial and it is obvious that the elite do not want people to buy sensible priced houses anytime soon.

IMO, Brown has everted a massive crash and he has opted for a long drawn out crash over a decade. The trouble is - I haven't got a decade to wait! It is with regret that I will have to deal with slimy EA's and greedy vendors in the Summer and we will have to buy.

We have a twenty five percent deposit on a £120,000 house and we fully expect to lose it over the next few years - but we have no choice (we can't put are lives on hold forever!)

I feel as if the last four years of my life have been wasted and I should have jumped on the ponzi scheme when I had the chance! THIS PROPERTY OBSSESSED COUNTRY STINKS!

[Girly girl]

You should get at least 10% off what your friends have paid for their houses, be thankful for that at least and buy somewhere bigger enough for a baby or two because i doubt you'll be moving for a while.

[DementedTuna]

Nothing wrong with buying a house at the moment, but I would seriously worry about having a big mortgage around about now.

[Slumpmonkey Returns]

You should get at least 10% off what your friends have paid for their houses, be thankful for that at least and buy somewhere bigger enough for a baby or two because i doubt you'll be moving for a while.

Thanks for the advice. It's just so depressing! And the worse thing is we will have to deal with those weasal lying scumbag EA's again! :angry: :angry: :angry:

[Fairies Wear Boots]

You should get at least 10% off what your friends have paid for their houses, be thankful for that at least and buy somewhere bigger enough for a baby or two because i doubt you'll be moving for a while.

Yeah, houses aren't going for asking price any more are they?

[Guest DissipatedYouthIsValuable]

The Great Depression after this bull trap is going to be awesome.

[Fairies Wear Boots]

The Great Depression after this bull trap is going to be awesome.

I hope you are right, because I am committing to a 'hold' (off buying).

[OzzMosiz]

Slump, my girlfriend has 3 bedroom terraced house in Coventry she will sell you for 99K - seriously!

[Girly girl]

Thanks for the advice. It's just so depressing! And the worse thing is we will have to deal with those weasal lying scumbag EA's again! :angry: :angry: :angry:

Well funny you should mention that, by us somebody has set up a site where vendors pay a flat fee and they do the deal themselves, top idea.

It's gone under in less than 6 months so some people must like Ea's and maybe some do a good job, find one of those.

[grumpy-old-man-returns]

The Great Depression after this bull trap is going to be awesome.

yep. booked me a ringside seat.

[Fairies Wear Boots]

Slump, my girlfriend has 3 bedroom terraced house in Coventry she will sell you for 99K - seriously!

He's willing to paying 120. You are not Krusty Allsop and I claim my five pounds .

[silver surfer]

You should get at least 10% off what your friends have paid for their houses

I'm in the market and I can assure you that 10% off the asking price is just the beginning. I'm waiting for 30% plus off peak 2007 prices. Not quite there yet but absolutely no problems getting 25% off.

And, odious as EA's usually are, if they sense the prospect of a sale they'll be absolutely on your side, trying to get the vendor to accept your 20-25% off offer, which will suddenly be "entirely reasonable in such a challenged market"

[leveller]

I would also be depressed if I was looking in Coventry to buy a house

[@contradevian]

It is annoying. Indeed I regret not riding the Ponzi scheme over the last 10 years better. I thought it could collapse in 2001 and wondered why it didn't do so.

I still think it would still be a mistake to take on a big mortgage at the moment. Then again we all need a roof over our heads.

This has not been a good day for HPC admittedly. A few days ago I jokingly posted I reckoned on a 1.2% rise in House prices this month, little knowing I'd be almost right! :angry:

Edited April 2, 2009 by rover2000

[Kazuya]

The Great Depression after this bull trap is going to be awesome.

I don't think there will be a Great Depression.

Printy printy.

[Guest DissipatedYouthIsValuable]

I hope you are right, because I am committing to a 'hold' (off buying).

Well, if there are no significant wage increases, it's only going one way.

If wage inflation starts kicking off properly, then I'm in.

Or I might take the opportunity for a little wander.

[Girly girl]

I'm in the market and I can assure you that 10% off the asking price is just the beginning. I'm waiting for 30% plus off peak 2007 prices. Not quite there yet but absolutely no problems getting 25% off.

And, odious as EA's usually are, if they sense the prospect of a sale they'll be absolutely on your side, trying to get the vendor to accept your 20-25% off offer, which will suddenly be "entirely reasonable in such a challenged market"

I wish you luck and hope you aren't too silver a surfer otherwise you might be dead before you see 30% off I fear

[juvenal]

Not been a good day for HPC? - look down the line a little. 3000 redundancies were announced on the news 5 minutes ago, and a lot more small ones that were not. Redundancies are tragedies for those involved, and everyone wishes they weren't occuring.

But regular news like that means house prices are only going one way - down.

[IMHAL]

Snap out of it Slumpers!

The market has always behaved this way on its downward trajectory. It goes down then there is a moment of light quickly followed by more dark clouds.

Whats more, as the slump continues, there will be a wider and wider selection of houses to choose from, one that will suit you. You may not be able to wait until the market bottoms but at least wait until much more stuff finds its way into the market - then at least you may have over paid but you will be getting something you want.

Do not be fooled by this moment of 'light'.

[Waiting Patiently]

........................IMO, Brown has everted a massive crash and he has opted for a long drawn out crash over a decade. The trouble is - I haven't got a decade to wait! It is with regret that I will have to deal with slimy EA's and greedy vendors in the Summer and we will have to buy.

We have a twenty five percent deposit on a £120,000 house and we fully expect to lose it over the next few years - but we have no choice (we can't put are lives on hold forever!)

I feel as if the last four years of my life have been wasted and I should have jumped on the ponzi scheme when I had the chance! THIS PROPERTY OBSSESSED COUNTRY STINKS!

Stop panicking and get a grip, you muppet. Brown's not a miracle worker, he's a bullshitter. You can't buck the market and neither can he.

[OLDFTB]

In 2005 Mrs Slumpmonkey and I started looking for a house in Coventry. Typical three bed terrace houses in crappy areas cost £125,000. We had a mortgage in principle - it was a three times combined salary one hundred per cent mortgage from Novern Crock. We found a house we wanted and nearly exchanged but pulled out when we learnt that the vendor had not disclosed that she did not have planning permisson for the extention. We carried on looking for other houses but then I became suspicious that a three bed house should not be "worth" six times my income and I came upon this site.

I became convinced that there had to be a HPC and I was not going to play the silly game of "getting on the housing ladder." I convinced Mrs Slumpmonkey to wait for the crash. She was sceptical at first but she stood by me when all our friends were jumping on the "housing ladder" in 2006 and 2007 with massive mortgages. We went to their house warmings and were constantly asked "when are you going to stop paying dead money" and other cliches - but we held firm.

Then in October 2007 Northern Rock collapsed and house prices started to dive. I was so happy and I felt vindicated. I was sure that the denial period would only be brief and I convinced the missus to hold out to Summer 2009 - 18 months after the first declines started.

However, I did not expect that the denial period would last so long and I never really expected that McStalin would bankrupt the country in order to stop his pyramid scam from collapsing.

18 months on and vendors are still asking £125,000 for crappy three bed terraces and McStalin has thrown everything but the kitchen sinks at his ponzi scheme to get re-elected. Furthermore, the media and the brain-washed masses are still massively in denial and it is obvious that the elite do not want people to buy sensible priced houses anytime soon.

IMO, Brown has everted a massive crash and he has opted for a long drawn out crash over a decade. The trouble is - I haven't got a decade to wait! It is with regret that I will have to deal with slimy EA's and greedy vendors in the Summer and we will have to buy.

We have a twenty five percent deposit on a £120,000 house and we fully expect to lose it over the next few years - but we have no choice (we can't put are lives on hold forever!)

I feel as if the last four years of my life have been wasted and I should have jumped on the ponzi scheme when I had the chance! THIS PROPERTY OBSSESSED COUNTRY STINKS!

Fools

[TheCountOfNowhere]

I quit too....thought i'm not buying a £300K shoe box. I'd rather take my skills somewhere else. This place is doomed.

[50%deposit]

In 2005 Mrs Slumpmonkey and I started looking for a house in Coventry. Typical three bed terrace houses in crappy areas cost £125,000. We had a mortgage in principle - it was a three times combined salary one hundred per cent mortgage from Novern Crock. We found a house we wanted and nearly exchanged but pulled out when we learnt that the vendor had not disclosed that she did not have planning permisson for the extention. We carried on looking for other houses but then I became suspicious that a three bed house should not be "worth" six times my income and I came upon this site.

I became convinced that there had to be a HPC and I was not going to play the silly game of "getting on the housing ladder." I convinced Mrs Slumpmonkey to wait for the crash. She was sceptical at first but she stood by me when all our friends were jumping on the "housing ladder" in 2006 and 2007 with massive mortgages. We went to their house warmings and were constantly asked "when are you going to stop paying dead money" and other cliches - but we held firm.

Then in October 2007 Northern Rock collapsed and house prices started to dive. I was so happy and I felt vindicated. I was sure that the denial period would only be brief and I convinced the missus to hold out to Summer 2009 - 18 months after the first declines started.

However, I did not expect that the denial period would last so long and I never really expected that McStalin would bankrupt the country in order to stop his pyramid scam from collapsing.

18 months on and vendors are still asking £125,000 for crappy three bed terraces and McStalin has thrown everything but the kitchen sinks at his ponzi scheme to get re-elected. Furthermore, the media and the brain-washed masses are still massively in denial and it is obvious that the elite do not want people to buy sensible priced houses anytime soon.

IMO, Brown has everted a massive crash and he has opted for a long drawn out crash over a decade. The trouble is - I haven't got a decade to wait! It is with regret that I will have to deal with slimy EA's and greedy vendors in the Summer and we will have to buy.

We have a twenty five percent deposit on a £120,000 house and we fully expect to lose it over the next few years - but we have no choice (we can't put are lives on hold forever!)

I feel as if the last four years of my life have been wasted and I should have jumped on the ponzi scheme when I had the chance! THIS PROPERTY OBSSESSED COUNTRY STINKS!

lol

your singing my song.

it is very depressing how they government will not admit that house prices are too high.

also that they are spending our money to keep them high.

your right, and i dont know what to say. I oftem sit here, jaw open, speachless at yet more efforts by the government to maintain the ridiculously high house prices we have. life is too short.

[19 year mortgage 8itch]

I don't care what HPs do anymore.

I've had an epiphany recently and there's more to life than working to pay the bankers. Whether it's wise or not, I'm still trying to sell up and go rental elsewhere, wife, baby and all.

[DownsizingDiva]

I'm in the market and I can assure you that 10% off the asking price is just the beginning. I'm waiting for 30% plus off peak 2007 prices. Not quite there yet but absolutely no problems getting 25% off.

And, odious as EA's usually are, if they sense the prospect of a sale they'll be absolutely on your side, trying to get the vendor to accept your 20-25% off offer, which will suddenly be "entirely reasonable in such a challenged market"

Not in Southampton... EAs are still playing the "this house is very realistically priced" card - although the prices they are referring to are close to 2007 ones...

Edited April 2, 2009 by DownsizingDiva