macfarlan Posted January 30, 2010 Share Posted January 30, 2010 UK house prices are being manipulated. Those who bought early last year did okay (in the short term) and bought at about 20% below peak price. However, it is my considered opinion that those who wait another three or four years will buy at 50%+ below peak price. Time will tell, but I'm happily putting my money where my mouth is. I tend to agree with this, and the earlier post re V shaped recoveries never happening fits in with my thoughts on where we are atm. I also find the original post to be in slightly poor taste as I am a FTB. You should buy more now. Fill yer boots before prices go to the moon. All the savvy investors are. I also agree with the above post. To the OP, house prices are on the way up, buy as many as you can asap. Quote Link to comment Share on other sites More sharing options...
LondonToManchester Posted January 30, 2010 Author Share Posted January 30, 2010 What is your 9-5? Computer Programmer C++/Java I love programming just hate all the ******** around it. Pays well esp in London. Quote Link to comment Share on other sites More sharing options...
LondonToManchester Posted January 30, 2010 Author Share Posted January 30, 2010 Great in theory not so good in practice...anyhow why should you feel you have to support your offspring...give them the knowledge and know how to support themselves...easy come easy go, the real true value of money is only real and true if you have worked and earned for yourself. Dude I'm asain it's in my Blood (Joke) Quote Link to comment Share on other sites More sharing options...
winkie Posted January 30, 2010 Share Posted January 30, 2010 Dude I'm asain it's in my Blood (Joke) Good for you...carry on doing what you are doing...am I jealous? not one iota. Quote Link to comment Share on other sites More sharing options...
athom Posted January 30, 2010 Share Posted January 30, 2010 I can't believe people are actually believing that's it for the crash Happy to wait renting in this insecure period, another year at least, all sorts of shit could go down Quote Link to comment Share on other sites More sharing options...
Sibley's Love Child Posted January 30, 2010 Share Posted January 30, 2010 Around March last year alot of the long term bears (I think also including this site administrater(could be wrong)) bought properties. They created threads basically saying that they had bought but still thought properties were going to fall. They manage to pick the bottom of the market and have probably made quite abit of money (on paper). I should have taken this as a massive buy sign and increased the size of my portfolio. I also should have listen to the people on this site 3 years ago telling me to buy gold. What about the rest of you? Dude, you're back, it's been a while. Didn't you have a 'flounce-off' thread in the Off Topic last year? It's a shame you didn't manage to increase your empire; think of all those plebs in hock to you... Quote Link to comment Share on other sites More sharing options...
Wires 74 Posted January 31, 2010 Share Posted January 31, 2010 Bricks and Mortar = Gold dust . Always has done and always will ... Quote Link to comment Share on other sites More sharing options...
Confounded Posted January 31, 2010 Share Posted January 31, 2010 median average salary according to ONS is £23k and falling.Average housee according to Haliwde is £170k or so.Someone's wrong.170/23=7.39. I agree the official figures for house prices to income (the graph plotted) although shocking underestimates the scale of the mismatch. Where I live the average house price to average wage is X 10-15 and if you want a family house it is nearer X 20-25. Quote Link to comment Share on other sites More sharing options...
Mikhail Liebenstein Posted January 31, 2010 Share Posted January 31, 2010 I was one of those 2005 members who STR in 2007 and bought back in March 2009. Almost a year on and very happy with my 5 bed in the South East for £230k, when 2007-2008 buyers paid £300k-£330k for the exact same house on the same estate. Estate still not due to be finished until 2011 but it is much less of a building site around us now as everything is built and sold. Buyers who completed on my style of house in May and July paid £240k and £242k and ones that completed on the next phase in December paid £270k. Slaes office girls have confirmed thay will be marketing the house for at least £280k when the 2010 plots are released. All the 4 -5 bed family homes on here are selling very well as the new builds are still better priced than most optomistic OO trying to sell second hand at 2007 prices. I said at the time I was expecting a 20% drop but it is looking like now that a 20% drop will only bring this type of house down to what I paid so I am now only expecting static growth not a drop. Time will tell The main thing is we have our own 5 bed house with mortgage repayments £100 month less than we were paying rent for a three bed accross town and if we want to put it on IO anytime or interest payments are only £200 p/m for a 5 bed. Now thats cheap rent with yourself as the LL!! But we are happily clearing the capital as we have an offset mortgage product the capital reduces off the loan every month by £500 so it's nice to see we owe £5k less than we did when we moved in. Much better than repayment mortgages we had in our old hose where even after 10 years we had not even cleared 1/3 of the capital, it mostly goes on interest payments for the first 15 years. M I say well done markyh, and what it proves is that house prices can go down as well us up. Both you and I have played the market, and seem to have pulled it off for now. The thing I am most pleased with is getting my house for £150k less than it was sold for in 2008, that's a big saving, but in my own mind I double the saving, as clearly that £150k would be the last £150k I'd pay off on a mortgage and assuming I let the mortgage run for the usual 25 years withoutt paying it off, then that £150k would cost me nearer £400k as it would probably only be start to be paid off 20 years from now and so in effect would compound at say 5% over 20 years. Quote Link to comment Share on other sites More sharing options...
Guest CrashTestDummy Posted January 31, 2010 Share Posted January 31, 2010 bought gold didnt buy property no regrets whatsoever the property crash shall resume soon enough Ditto. Plus left the bulk of my wealth in ozzie dollars. Buy? At these prices? Financial siucide imo. Quote Link to comment Share on other sites More sharing options...
the end is a bit nigher Posted January 31, 2010 Share Posted January 31, 2010 I also should have listen to the people on this site 3 years ago telling me to buy gold. What about the rest of you? And the reason you wanted to buy Gold was?????? Quote Link to comment Share on other sites More sharing options...
LondonToManchester Posted January 31, 2010 Author Share Posted January 31, 2010 Dude, you're back, it's been a while. Didn't you have a 'flounce-off' thread in the Off Topic last year? It's a shame you didn't manage to increase your empire; think of all those plebs in hock to you... TBH i would be lieing if I said I did not like the feel of power owning property gives me I know I'm sad Quote Link to comment Share on other sites More sharing options...
LondonToManchester Posted January 31, 2010 Author Share Posted January 31, 2010 And the reason you wanted to buy Gold was?????? To make money why else? You can't live of it! Quote Link to comment Share on other sites More sharing options...
Bruce Banner Posted January 31, 2010 Share Posted January 31, 2010 TBH i would be lieing if I said I did not like the feel of power owning property gives me I know I'm sad Really? You get a feeling of power from owning property? . Would you not feel as powerful with the cash in the bank? . Oh, of course, you don't own the property at all, it's on the never never . This is one perverse troll . Quote Link to comment Share on other sites More sharing options...
Bloo Loo Posted January 31, 2010 Share Posted January 31, 2010 Bricks and Mortar = Gold dust . Always has done and always will ... its not the bricks and mortar that kills you. its the finance (debt) that kills you. overleverage investing in finance on bricks and mortar was the cause if the bank crash 2007. they are doing it again, at least in the UK. Quote Link to comment Share on other sites More sharing options...
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