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DownsizingDiva

Phew! Nearly Bought One Yesterday...

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It's amazing what a bit of sunshine does to the brain! Viewed a house yesterday with the firm intention of buying somewhere SOON. Paying out on rent, savings attracting b-all interest, house prices soaring, gazumping rife, hyper-inflation imminent. Was beginning to panic.

After viewing of house (which was clearly structurally unsafe on at least 2 counts, but according to EA needed "a lick of paint" to make it the most wonderful property on this earth, sat down and thought long and hard about the situation.

Yes, I am concerned that my STR fund is not returning any interest worth speaking of.

Yes, I don't like paying out a large proportion of my income on rent every month

Yes, I am conscious of the possibility of inflation eroding my capital

No, I am not happy that I can't do what I like in rented accommodation (no pets, no decoration etc.)

BUT - I still believe that house prices will fall significantly come the end of the summer. So, I have decided to continue renting.

We are definitely in the "silly season" for the housing market!

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Just hang in until the next election. Hopefully things will have had a chance to work through. It's easy to get carried away with the false hope that is being broadcast by the government spin machine and the government controlled banks.

Sunshine is great for your mood, but unfortunately, being in a good mood doesn't necessarily lead to good decisions.

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yep, sunshine is good for sales, ask any timeshare or foreign property salesman...brits and the sun......

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It's amazing what a bit of sunshine does to the brain! Viewed a house yesterday with the firm intention of buying somewhere SOON. Paying out on rent, savings attracting b-all interest, house prices soaring, gazumping rife, hyper-inflation imminent. Was beginning to panic.

After viewing of house (which was clearly structurally unsafe on at least 2 counts, but according to EA needed "a lick of paint" to make it the most wonderful property on this earth, sat down and thought long and hard about the situation.

Yes, I am concerned that my STR fund is not returning any interest worth speaking of.

Yes, I don't like paying out a large proportion of my income on rent every month

Yes, I am conscious of the possibility of inflation eroding my capital

No, I am not happy that I can't do what I like in rented accommodation (no pets, no decoration etc.)

BUT - I still believe that house prices will fall significantly come the end of the summer. So, I have decided to continue renting.

We are definitely in the "silly season" for the housing market!

NEVER EVER buy a house in sunny weather!

Any sh*tehole can look nice in the sun.

This bounce will not last. It's just cash buyers coming in for a 'bargain' and once they're done buying we will resume crash-speed. It will be a bleak winter.

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i would buy 20% off peak and lock in the fall for the long run but i just dont see them

everyone listing is at 20% above peak!

except for a repo which i recently missed at sealed bids to another cash buyer.. sold at late 03/early 04 prices.. but with zero rates people aren't forced sellers like in the early 1990s recession

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It's amazing what a bit of sunshine does to the brain! Viewed a house yesterday with the firm intention of buying somewhere SOON. Paying out on rent, savings attracting b-all interest, house prices soaring, gazumping rife, hyper-inflation imminent. Was beginning to panic.

After viewing of house (which was clearly structurally unsafe on at least 2 counts, but according to EA needed "a lick of paint" to make it the most wonderful property on this earth, sat down and thought long and hard about the situation.

Yes, I am concerned that my STR fund is not returning any interest worth speaking of.

Yes, I don't like paying out a large proportion of my income on rent every month

Yes, I am conscious of the possibility of inflation eroding my capital

No, I am not happy that I can't do what I like in rented accommodation (no pets, no decoration etc.)

BUT - I still believe that house prices will fall significantly come the end of the summer. So, I have decided to continue renting.

We are definitely in the "silly season" for the housing market!

Never buy in Spring.

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