twatmangle Posted June 14, 2009 Share Posted June 14, 2009 As title. I genuinely expect prices to continue to fall for a while, but this was the most sensible thing to do in my situation. Will I convert to a bull? - no chance, and Sibley is still a deluded twit. Quote Link to comment Share on other sites More sharing options...
Y-QUERK Posted June 14, 2009 Share Posted June 14, 2009 Where? How much? Quote Link to comment Share on other sites More sharing options...
piece of paper Posted June 14, 2009 Share Posted June 14, 2009 Please leave the piccy if you depart the site. p-o-p Quote Link to comment Share on other sites More sharing options...
threetimesdead Posted June 14, 2009 Share Posted June 14, 2009 Just don't say you are another STR Quote Link to comment Share on other sites More sharing options...
Buffer Bear Posted June 14, 2009 Share Posted June 14, 2009 One of these http://www.guardian.co.uk/money/2009/jun/1...on-flats-queues It seems like the property deal of the age: 167 new flats in a prime location on sale for half their original value. Hundreds queued overnight hoping to snap up one-bedroom apartments with a "spectacular skyline view" for just £164,995 - down from their original price of £377,900 - and two-bed flats for £230,000, reduced from £474,600. It was the first time a sell-off of this size had taken place since the last recession. Galliard Homes, which built the block near Canary Wharf in London's Docklands, was forced to cut prices after the credit crunch saw an investment chain collapse. Property firm Trinity Capital put a deposit on the tower in 2007 but failed to complete the purchase after nearly all the individuals and investment consortiums, which it Quote Link to comment Share on other sites More sharing options...
swissy_fit Posted June 14, 2009 Share Posted June 14, 2009 As title.I genuinely expect prices to continue to fall for a while, but this was the most sensible thing to do in my situation. Will I convert to a bull? - no chance, and Sibley is still a deluded twit. This is now true for anyone with a big fund. Simple maths, they've shafted us savers, now the falls aren't going to be fast enough to make up for the low interest income. Unless you were smart enough to fix a good interest rate on your savings. To make sense being a cash-holding bear with a big cash fund, interest rates need to be higher. Quote Link to comment Share on other sites More sharing options...
Lone_Twin Posted June 14, 2009 Share Posted June 14, 2009 HOLD.....HOLD..... Quote Link to comment Share on other sites More sharing options...
twatmangle Posted June 14, 2009 Author Share Posted June 14, 2009 Just don't say you are another STR Nope, all of my deposit was saved/invested from other sources. Mostly shares, gold, exchange rates etc. Quote Link to comment Share on other sites More sharing options...
threetimesdead Posted June 14, 2009 Share Posted June 14, 2009 Nope, all of my deposit was saved/invested from other sources.Mostly shares, gold, exchange rates etc. I am disappointed - unearned profits = STR The trend is obvious - worried speculators sustaining the current market - thank you for the confirmation Quote Link to comment Share on other sites More sharing options...
twatmangle Posted June 14, 2009 Author Share Posted June 14, 2009 This is now true for anyone with a big fund.Simple maths, they've shafted us savers, now the falls aren't going to be fast enough to make up for the low interest income. Unless you were smart enough to fix a good interest rate on your savings. To make sense being a cash-holding bear with a big cash fund, interest rates need to be higher. This is exactly it. I have a relatively large amount of cash or near-cash, which I've built up over a few years. There are 2 possible scenarios... 1) Deflation and more of the same - where my saving interest rates will be virtually nil. 2) Inflation, where my saving rate will never catch up with high inflation. either way, holding cash is not a good option. So I have decided to spend most of it on a deposit, and I got a 5 year fix at 4.5%. I kept back enough cash to have as an emergency fund, which can pay the mortgage for the next three years if needed. If it is inflation, then I'll probably be getting more interest on my ISA that my equivalent (fixed) mortgage is costing me. I really do have reservations about buying as I'm a real bear, but I'm getting worried about Gordon's spendy-spendy printy-printy. Quote Link to comment Share on other sites More sharing options...
MrB Posted June 14, 2009 Share Posted June 14, 2009 this place is full of fickle bears. or bear/speculator hybrids. Quote Link to comment Share on other sites More sharing options...
pie-eater Posted June 14, 2009 Share Posted June 14, 2009 (edited) I am disappointed - unearned profits = STRThe trend is obvious - worried speculators sustaining the current market - thank you for the confirmation Or he found the right place to live for years and cash isn't his life driver? Kin ell, a house is a home to be enjoyed and if it drops in value a bit it's of zero matter if it's a home for many years and affordable. I'm a full, smelly, furry bear but it's not all about cash. Edited June 14, 2009 by pie-eater Quote Link to comment Share on other sites More sharing options...
Minos Posted June 14, 2009 Share Posted June 14, 2009 (edited) this place is full of fickle bears.or bear/speculator hybrids. I can't wait until the perma bears and "turncoats" start turning on each other. Later this year with luck. I've got my popcorn ready. Edited June 14, 2009 by Minos Quote Link to comment Share on other sites More sharing options...
twatmangle Posted June 14, 2009 Author Share Posted June 14, 2009 this place is full of fickle bears.or bear/speculator hybrids. I'm not a speculator, I don't understand why have I been labelled as this (twice already in this thread)? I just want a home for my family that we can all enjoy. Quote Link to comment Share on other sites More sharing options...
50%deposit Posted June 14, 2009 Share Posted June 14, 2009 sunshine maddness strikes again!!!!!! just imagine what its going to be like when it really hots up!!! Quote Link to comment Share on other sites More sharing options...
threetimesdead Posted June 14, 2009 Share Posted June 14, 2009 (edited) Or he found the right place to live for years and cash isn't his life driver?Kin ell, a house is a home to be enjoyed and if it drops in value a bit it's of zero matter if it's a home for many years and affordable. Never been for me - and I am a bear since 2001 - so no need to read what I write Edited June 14, 2009 by threetimesdead Quote Link to comment Share on other sites More sharing options...
HAMISH_MCTAVISH Posted June 14, 2009 Share Posted June 14, 2009 Simple maths, they've shafted us savers, now the falls aren't going to be fast enough to make up for the low interest income. Or rent, or the fact that retail mortgage interest rates are edging up again....... But I don't see how that only applies to those with big funds. Surely its the case for everyone...... Prices will probably fall a small amount further. But quite possibly not enough, and fast enough, to compensate for the increased lifetime costs of renting in the meantime, and missing the lowest 5 year fixes for those needing mortgages for example. Quote Link to comment Share on other sites More sharing options...
tuggybear Posted June 14, 2009 Share Posted June 14, 2009 Congrats, Mr. Twatmangle. very good call holding capital back for a rainy day. I hope you and your family are very happy! Quote Link to comment Share on other sites More sharing options...
threetimesdead Posted June 14, 2009 Share Posted June 14, 2009 Or rent, or the fact that retail mortgage interest rates are edging up again....... But I don't see how that only applies to those with big funds. Surely its the case for everyone...... Prices will probably fall a small amount further. But quite possibly not enough, and fast enough, to compensate for the increased lifetime costs of renting in the meantime, and missing the lowest 5 year fixes for those needing mortgages for example. Glad to see you have a reason to live So you think the rates are going up? You think that will help house prices to follow in the same direction? Quote Link to comment Share on other sites More sharing options...
HAMISH_MCTAVISH Posted June 14, 2009 Share Posted June 14, 2009 Glad to see you have a reason to liveSo you think the rates are going up? You think that will help house prices to follow in the same direction? http://www.housepricecrash.co.uk/forum/ind...t&p=1952327 Quote Link to comment Share on other sites More sharing options...
twatmangle Posted June 14, 2009 Author Share Posted June 14, 2009 Congrats, Mr. Twatmangle.very good call holding capital back for a rainy day. I hope you and your family are very happy! Thanks very much. I hope it works out well for us and I'll let you all know what happens. You never know, it might fall through, or I might get cold feet. Quote Link to comment Share on other sites More sharing options...
Bosh Posted June 14, 2009 Share Posted June 14, 2009 Well done!! Hope you enjoy your house. This site cracks me up It`s like some posters are calling you a snide or turncoat. I too bought a little while back and in my opinion (and apart from the wifes) that is the most important opinion , we have done very nicely from the current situation. Like you, I still believe prices will fall but we all have differing reasons in our decision making. Does buying a house turn someone into a bull? Nope.... Be a happy bear in your new family home. As you have said already you have weighed up the pros and cons for you and buying at this time works. It is also true to say that many others, especially those without sufficient funds will also get what they want in the future and I hope this time comes sooner rather than later. Your time is now. Quote Link to comment Share on other sites More sharing options...
threetimesdead Posted June 14, 2009 Share Posted June 14, 2009 Thanks very much. I hope it works out well for us and I'll let you all know what happens.You never know, it might fall through, or I might get cold feet. Yet another con Just like that banana - all imagination - no reality Or, should I say no realty? Quote Link to comment Share on other sites More sharing options...
pie-eater Posted June 14, 2009 Share Posted June 14, 2009 (edited) Never been for me - and I am a bear since 2001 - so no need to read what I write Never did. Cheers Edited June 14, 2009 by pie-eater Quote Link to comment Share on other sites More sharing options...
twatmangle Posted June 14, 2009 Author Share Posted June 14, 2009 Yet another conJust like that banana - all imagination - no reality Or, should I say no realty? You back on the crack again? Quote Link to comment Share on other sites More sharing options...
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