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TheCountOfNowhere

Is Anyone Considering Buying A House Now ?

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I gave up looking for a house about 6 months ago when it was clear the government was hell bent on keeping prices up regardless.

Amazingly they've managed to convince people housing is a great invest ment ( at these prices :blink: ) and you cant loose.

The banks have been lending ( our money, to us ) to buy properties, if you have a 25% deposit to give them so they can keep it when it all goes belly up.

The Haliwide indexes show that they managed to turn the tide ( for a while ) and the rightmove delusional index has never really stopped going up.

So , bearing all this in mind, I gave up even thinking about looking for a house in the UK.

Is anyone out there actually actively looking now ( thinking what a bargain they are getting or they might loose out if they dont buy now :blink: ) ?

After 3 years on this forum I just see houses a weight round your neck. It allows government to control/tax/keep track of you. It's the ultimate hidden tax. The housing propoganda from the VI is obscense and should be illegal. The banks, well they are a bunch of bankers, what else can you say. The austerity budget is here. Mobility is the key ( like the poles, they leave to get a job). Cash is King. So buying a house is very low down on my priority list.

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I drove past a house last week that last sold in mid-2006 for 262K. It was up for sale for 399K. I laughed.

Cycled past it yesterday and it has SSTC on it.

Quite a few HPCers have drifted off and bought in the past 6 months. I know others on here who are giving it till the Autumn before buying. I am trying to wait 6 months after thr removal of HIPs for people to get nervous but, with so many selling locally, I am not that confident and a tad worried.

Honest answer.

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I drove past a house last week that last sold in mid-2006 for 262K. It was up for sale for 399K. I laughed.

Cycled past it yesterday and it has SSTC on it.

Quite a few HPCers have drifted off and bought in the past 6 months. I know others on here who are giving it till the Autumn before buying. I am trying to wait 6 months after thr removal of HIPs for people to get nervous but, with so many selling locally, I am not that confident and a tad worried.

Honest answer.

You'll never make an estate agent with honesty like that.

I think we're in for the long decline. Labour are a disgrace and I hope more and more people realise this. It should be illegal what they have been allowed to do.

I dont see any point in buying now. I'vbe looked through the numbers and renting is a better prospect, especially with job uncertainty.

I've heard clegg/.cameron was saying they wanted to keep interest rates low ( i.e. rob the savers ) so unless the austerity measures collapse the market we're in for that long slow decline.

Living standards gradually going down...so wil house prices.

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I think I'll have a personal circumstance deadline of April 2011. I'll probably be buying then regardless. So I have half an eye out, and I'm seeing better value since the election.

I have recently turned back to bear after seeing the con-libs in action. We've had the biggest boom, the longest bear trap and I think we'll see the longest drawn steady fall over the next 5-10 years. Hopefully by April 15% will have come off and I'll buy somewhere I'll live in for the next 10 years.

P

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You'll never make an estate agent with honesty like that.

I think we're in for the long decline. Labour are a disgrace and I hope more and more people realise this. It should be illegal what they have been allowed to do.

I dont see any point in buying now. I'vbe looked through the numbers and renting is a better prospect, especially with job uncertainty.

I've heard clegg/.cameron was saying they wanted to keep interest rates low ( i.e. rob the savers ) so unless the austerity measures collapse the market we're in for that long slow decline.

Living standards gradually going down...so wil house prices.

I reckon they are even more hell bent on it than liebour were. I was hoping they might drift up just a little bit under the coalition, but I've sadly given up on that after hearing Clegg this morning repeat about 400 times that VAT had to go up to prevent a possible rise in interest rates further down the line.

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I was looking at buying a BTL property in Maidenhead. Given what the council was paying in Housing Benefit, you could get a pretty good rental return on large ex-LA houses, though the Budget has now scuppered that idea.

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I'm looking at houses but not with any intention of buying. More out of curiosity. IMO the peak will be viewed as Q1 2010. The indicies are now pretty much flat, some slightly up and some slightly down. If think we will see falls from now on in most indicies.

But if prices comtinue to rise through this period i don't think it will happen any time soon. So the decision time for me will be about Christmas. If they are still rising I'll make the decision to either permanently rent or join the debt laden sheeple and buy a slave box.

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Yup as everyone else has said, everything points to a long decline. TPTB have tuned the inevitable HPC into a young persons game. Unfortunately, I no longer fall into that category and fear of inflation/family responsibilities mean I will be forced to buy and watch everything I have ever worked for bleed away, slowly and surely. But, as they say, I will be living in it - so when armageddon does come - I can sit on my tin of beans with my crossbow, safe in the knowledge that if I can survive, then one day my descendant might benefit from HPI - because they only ever go up in the long run. Inflating populations and fiat currencies make sure of that.

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Yup as everyone else has said, everything points to a long decline. TPTB have tuned the inevitable HPC into a young persons game. Unfortunately, I no longer fall into that category and fear of inflation/family responsibilities mean I will be forced to buy and watch everything I have ever worked for bleed away, slowly and surely. But, as they say, I will be living in it - so when armageddon does come - I can sit on my tin of beans with my crossbow, safe in the knowledge that if I can survive, then one day my descendant might benefit from HPI - because they only ever go up in the long run. Inflating populations and fiat currencies make sure of that.

Im pretty sure that house prices collapsed in most of western europe during the period 1914 to 1945. House prices most definately do not always go up.

They have gone up for a long time but look what the consequence has been.

It's different this time...well it certainly is...we've had collapse of the system and we're not out the woods yet ( we are told ). Worst possible scenarios are having a house where they can send your call up papers to then an invaiding army "acquiring" your property for a knock down price :lol:

Edited by TheCountOfNowhere

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I'll probably wait until the great flu pandemic comes and wipes out a chunk of the population.

It's as good a strategy at any when it comes to the irrational UK obsession with property and HPI.

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I'll probably wait until the great flu pandemic comes and wipes out a chunk of the population.

It's as good a strategy at any when it comes to the irrational UK obsession with property and HPI.

It's the TV/media people that are obsessed ( sicne they own them) and brain wash the sheeple to keep the pyramid selling scam going.

Like any pyramid selling scam, if you buy in at the wrong time, you loose everything. Them aty the top of the scam make the money.

Best bet is...not to play.

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I'm just sick of waiting to see what will happen round the corner...

-Credit crunch

-end of QE

-election / emergency buget

-future of interest rate

I have enough money to buy a small house outright or put down a substancial deposit on a larger property.

I'm worried that if I do either, that's when the crash will take place and I will be living a life of regret!

Each one of the events listed above (that has happened or waiting to take effect) has detered me from even contemplainting to buy!

What else can they do? We were all right here on hpc... But most of us didn't antispate the goverments comitment to protect the sheeple! ... and look now savers like myself are paying for it!

Due to the nature of my work I'm unable to rent and still stuck at home... I do still activly look for properties but I would say I'm only interested in 1 out of every 100 that come on the Market!

I hate this county...

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Im pretty sure that house prices collapsed in most of western europe during the period 1914 to 1945. House prices most definately do not always go up.

They have gone up for a long time but look what the consequence has been.

It's different this time...well it certainly is...we've had collapse of the system and we're not out the woods yet ( we are told ). Worst possible scenarios are having a house where they can send your call up papers to then an invaiding army "acquiring" your property for a knock down price :lol:

:lol::lol:

So true! But if it come to having to fight in the resource grab wars that will result from this credit creed out masters created for us then, well, who gives a shit about anything any more? Anyway, just watch how quickly I start praying to Allah, Vishnu, or whoever I am expected to! I'd collaborate with the devil himself to save the blood of my kin.

Edited by sbn

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There was a house up the road from me that was on for £65,000, It needed a once over but nothing major whatsoever. Came back onto Rightmove today with a new kitchen and fresh paint and a price tag of £125,000.

Do these people think they are entitled to such ludicrous gains.?

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I hate this county...

+1 I totally despise the grabbing, materialistic, lameocracy that it has become.

If you could sum up the UK in just one man, i would say.....

Alan Sugar

Edited by sbn

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I'm just sick of waiting to see what will happen round the corner...

-Credit crunch

-end of QE

-election / emergency buget

-future of interest rate

I have enough money to buy a small house outright or put down a substancial deposit on a larger property.

I'm worried that if I do either, that's when the crash will take place and I will be living a life of regret!

Each one of the events listed above (that has happened or waiting to take effect) has detered me from even contemplainting to buy!

What else can they do? We were all right here on hpc... But most of us didn't antispate the goverments comitment to protect the sheeple! ... and look now savers like myself are paying for it!

+1

I know you shoudl keep money aside for emergencies but with the current HPI, zero IRs and wobbly stock market I am wondering whether ploughing as much into a home as is possible, and getting a better home, is the way. If that makes sense.

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I was hopeful with LibCon to increase CGT to a level where it would stop speculation on houses or some other action atleast. And with a view to buy mid next year.

But since there isn't anything in this budget to suggest any short term downward movement, I don't think I'll be buying mid next year.

I'll wait till the effect of 25% reduction in public spending takes place which I think will be by the end of next year.

OR

Rise in inflation -> Interest rates rise due to VAT rise etc. which again is next year.

So another 18 - 24 months min of paying other house owners mortgages. Just feel quite sad.

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I'm looking Count. I'm about to enter my third year of renting. I'm sick of it. I was happy when my savings rate was 6% because I was making a profit, but I'm now losing money versus buying.

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"Thankfully", we're tied into a rental agreement for another 11 months, I suspect her-in-drawers will start looking at stuff to buy in 9 months or so. I'm hoping that prices are going to start looking more wobbly by then.

If I can demonstrate to her that prices are falling, then she won't mind waiting.. if things are looking the same I'll have a war to fight.

My biggest fear as an STR is inflation and house prices staying the same (but lower in real terms).

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So is that it then, no HPC??

We sold in Sept 08 and should have bought, we had the option to, we just thought they wanted too much. Now similar houses would sell for 30% more.

We have a great rented house, good landlord who will never chuck us out and could stay for a while.

But we regret not buying. Feeling sad too.

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I'm looking Count. I'm about to enter my third year of renting. I'm sick of it. I was happy when my savings rate was 6% because I was making a profit, but I'm now losing money versus buying.

+1

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There was a house up the road from me that was on for £65,000, It needed a once over but nothing major whatsoever. Came back onto Rightmove today with a new kitchen and fresh paint and a price tag of £125,000.

Do these people think they are entitled to such ludicrous gains.?

No, they don't.

It's business, you sell for what some other mug will pay. "Entitled" has absolutely nothing to do with it

tim

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I'm giving it at least a year.

My old flatmate, who when I used to share with him in Waterloo (where I still live) had a 20-minute walk to work and a 18x12 foot bedroom for £650 a month renting, has just bought a place in Shepherd's Bush. He now has to get the Central Line to work (apols to non-Londoners - the Central line is the grimmest of all tube lines), and now has a 50 minute commute door-to-door.

He had a BBQ two weeks ago at his new place, and me and the girlfriend thought it was quite nice overall. Smaller bedroom (prob about 13 x 10 foot), tiny second bedroom and an all-in-one kitchen/living room, but generally pretty good. It was a basement flat in a street full of people renting on housing benefit (not looking down on them, but just giving flavour of the street).

Anyway, on leaving the BBQ I made an estimate that he had paid around £320k-ish for the flat, which I would have considered stupidly expensive. However, the punchline to this overlong post is that he paid £475,000 grand for effectively a one-bed basement flat in Shepherd's Bush.

When things like this happen, I am acutely aware that the bubble is still firmly in place, and is just waiting to pop. Whether it pops through financial collapse in general, or just through falling nominal house prices is the big question, but it has to pop.

Edited by WageslaveX14

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Thoughtful comments. At the micro level I am feeling very encouraged by the change from 0-0-9 to 1-0-7 (who abstained?) voting to raise interest rates. That is a signal of change within TPTB. On the macro level it won't be long before the Great European Debacle kicks off I feel, compounded by a massive new leg down in housing activity and values in the USA, compounded by 25% public service spending cuts in the UK. I mean a more bearish noxious brew of hatching poisons you couldn't imagine. To me it feels like the perma-bull property aspirant classes will never get it and are going to be hanging onto the poop-deck of the UK-Property-Titanic as she slides down into the icy north atlantic.

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  • 261 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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