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OzzMosiz

Miss The Boat

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You often hear the term 'buy now or you'll "MISS THE BOAT"'

Well people in the 70's / 80's who didn't buy around those peaks didn't

miss the fricking boat in the end did they? :lol:

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fricking boat

I bought at to 90’s peak – and yes I missed to boat

I saved £30000 and then got a mortgage of £42000 – then sat and watched my £30000 disappear in negative equity.

I could have sat on my savings and almost bought the house with no mortgage

Yes I made money when I sold but not as much as my friends who have bigger houses and lesser mortgages

more like miss timing the boat (the fricking titanic)

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You often hear the term 'buy now or you'll "MISS THE BOAT"'

Well people in the 70's / 80's who didn't buy around those peaks didn't

miss the fricking boat in the end did they?  :lol:

Not quite sure I understand your thinking here? Sure, since the end of the second world war, house prices have over the long-term seen some dramatic increases. The problem now, of course, is that it can't go on forever. Homeowners are now far more common than they were back in those days, and we live in a much more controlled lower inflation environment. So, don't look to the past to be an absolute guide to the future. Times move on.

As regards the dates you quote, they are still upto 35 years ago (i.e. 1970). So yes, your house bought in 1970 would be worth a lot more today. But then factor in the mortgage and running costs, and it's not quite the free ride it seems... And, as I said above, you might not be able to repeat that gain over the next 30 years (and IMHO, nothing like it.)

So, buy a house over 25 years, and your 200k property will have cost you at least 600k in mortgage payments - so your house has to be worth *at least* that for you to break even. And you may have to put up with negagtive equity and much higher IRs before you get to that point 25 years hence (plus starting a family, moving house, yada, yada...)

So, a lot to consider. I'm not saying you won't make money over the next 25 years on a house, but don't bet on it. And even if you do, think of how much you've had to pay for it, and the effect of 25 years worth of inflation on the price it finally fetches. The reason I mention all of this is because so few homeowners do - to them it's "my house is worth XXX, and I only paid YYY - look how much I've made!" As a businessman running my own company for the last 17 years, I can tell you accounting isn't that simple. :D

Cheers,

Nomadd

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I’m going to buy shares in milk as the price can only go up!

Like houses the price has only gone up in the long run- but there are risks. It has been known that the population has decreased before due to disease and the population is supposed to decreases at about the year 2050 (I think is because of birth rates/length of life expectancies)

If the population was to decrease do you think that house prices would continue there upwards movement?

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I’m going to buy shares in milk as the price can only go up!

Like houses the price has only gone up in the long run- but there are risks. It has been known that the population has decreased before due to disease and the population is supposed to decreases at about the year 2050 (I think is because of birth rates/length of life expectancies)

If the population was to decrease do you think that house prices would continue there upwards movement?

Where will you live between now & then?

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Where will you live between now & then?

Just don’t look as your house as an investment

Or use it for investment only if you think that prices will go up

If you’re old and can downsize now would probably be a good time.

If you’re young and want to sell your flat to get a house – best to wait

If you’re a FTB then it’s best to wait at home

All this is my opinion and it’s best to make your own mind up to where you want to live.

Best advise

Buy low, sell high

My mum said before I bought said, “You never lose on houses, always borrow as much as you can and get the most expensive house you can.”

In hindsight she was only 50% right

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  • 301 Brexit, House prices and Summer 2020

    1. 1. Including the effects Brexit, where do you think average UK house prices will be relative to now in June 2020?


      • down 5% +
      • down 2.5%
      • Even
      • up 2.5%
      • up 5%



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