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yodiggity

Question For The Hpc's?

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Just a question and this is one that I am having to ask myself as I am a 37 yr old tenant.

When are you all planning to buy? Or aren't you? When is the bottom? When they are giving houses away for free?

Do you all want to rent for the rest of your lives?

I am not asking this to be glib or smart. It's a genuine question.

If there are 1000's of people renting, make that 100's of 1000's and I know many like myself who are in this position, looking to buy one day.

How will prices crash if in reality there is a steady stream of people of differing incomes all looking to get themselves into a house should affordability allow? So I buy a house for 500k, isn't there then someone willing to pay 475k for that house should I need or want to sell it. Or is it now worth 200k because houseprices are re-based? Afraid not.

I ask this question, because my rent is £1200 pcm, I can buy an equivalent house and pay £1500 pcm at the moment. Albeit with a good deposit. I can name 20 other people in the same position all with large deposits renting because they worry house prices 'may' fall. Not because they cannot afford to buy, but because they see a house as a trade rather than a home. I know this becuase I am guilty of it myself. As are plenty of you. They are sitting there pinning their hopes on world capitulation on, the reality of which, if it happens will mean that their money is worthless anyway and won't be able to buy a house anyway.

The reality is we are all screwed one way or another. We can buy and pay up. Or the worst happens and we are unemployed, lending is dead and we go back to subsistence farming.

I would suggest that plenty of us want the medium, houses to fall in value, but only by enough so that they are completely affordable for me, so that I can buy that big house that I feel entitled to.

Just a stream of random thoughts. I can go either way. Do I think there's trouble ahead maybe. Do your kids still need to eat? Live somewhere? Go to school? Go on holiday? Hmmmm I thought so. The world still turns, there is not nuclear winter yet.

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