Jump to content
House Price Crash Forum
Sign in to follow this  
VeryMeanReversion

House For Sale!

Recommended Posts

Since the board is mostly political today, I thought I would take the liberty of posting something housing related, although it's just an anecdote.

Friend of mine moved for work a couple of years ago, couldn't sell his house so rented that out and rented up here (Cambs). After putting his house back on the market recently, it sold quickly (peak -20%) but they couldn't find anything to buy so stayed renting.

After finding very little for sale in their price range, they manage to get one viewing, don't like the place but notice a for sale sign going up next door. They get the first viewing that day and offer full asking price before it gets to rightmove.

This is the second case in the last two months that friends have just paid full asking price. They are desperate not to stay in rented (kids in local schools). This particular purchase is very risky since they are increasing their mortgage and there is very little chance he will have a job in a few months IMO (I used to work there so know the details) and there are very few jobs going in this area.

I think house prices will keep going up until supply increases.

VMR.

Share this post


Link to post
Share on other sites

This is the second case in the last two months that friends have just paid full asking price. They are desperate not to stay in rented (kids in local schools). This particular purchase is very risky since they are increasing their mortgage and there is very little chance he will have a job in a few months IMO (I used to work there so know the details) and there are very few jobs going in this area.

I think house prices will keep going up until supply increases.

VMR.

According to my mate Sibley ..................

Your friends are sensible people who recognise that they better get into the market before its too late.

Property only goes up in the long term and that the should buy a house and stay there if it gets them the schools they want.

Share this post


Link to post
Share on other sites

According to my mate Sibley ..................

Your friends are sensible people who recognise that they better get into the market before its too late.

Property only goes up in the long term and that the should buy a house and stay there if it gets them the schools they want.

You forgot...

There isn't going to be a crash.

Share this post


Link to post
Share on other sites

Create an account or sign in to comment

You need to be a member in order to leave a comment

Create an account

Sign up for a new account in our community. It's easy!

Register a new account

Sign in

Already have an account? Sign in here.

Sign In Now
Sign in to follow this  

  • Recently Browsing   0 members

    No registered users viewing this page.

  • The Prime Minister stated that there were three Brexit options available to the UK:   291 members have voted

    1. 1. Which of the Prime Minister's options would you choose?


      • Leave with the negotiated deal
      • Remain
      • Leave with no deal

    Please sign in or register to vote in this poll. View topic


×

Important Information

We have placed cookies on your device to help make this website better. You can adjust your cookie settings, otherwise we'll assume you're okay to continue.