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Crashman Begins

Are You Happy They Have Prolonged The Crash

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Two kids, two doctorates, trophy wife and the body of a Greek god. I've no complaints.

He called, he wants it back.

What was the question? Oh yes, not happy.

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I couldn't have bought three years ago anyway. Well with a 10% deposit I could which was out of the question for me. I'd rather be bouncing along the bottom now, don't really want to wait another couple of years for the rest of the crash.

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Are you happy they have prolonged the crash ?

No.

Have you managed to save more, invest in other things, change career, etc ? Or has it worked out worse ?

Savings not increasing due to low savings rates but since rent is way cheaper than a mortgage, I've been dumping a big % of income into a pension so that when the time comes, I can safely stop further pension contributions to pay off any mortgage asap.

I'd rather just have a crash soon and get it over with.

VMR.

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Are you happy they have prolonged the crash ?

Have you managed to save more, invest in other things, change career, etc ? Or has it worked out worse ?

Absolutely.

Everyone has some kind of lesson to learn out of this.

On a personal level, we realised a few years ago that owning a property was not the be all and end all. We are happier than we have ever been as a family. We are in control of our finances and are able to place them where we choose. We save hard and we are not burdened with crippling mortgage repayments. It has been hard to wait these years with the uncertainty, pressure from others about what we SHOULD be doing and people treating us like scum because we've refused to buy property, but I think good things come to those who wait.

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Are you kidding? Seriously? We're all mortal. I just want to get on with my life, and I'm really sad that my kids have grown up in town center house with a small garden rather than somewhere out of town and bigger because, despite having no mortgage and a huge salary by the standards of most, I'd have to take out a 5 or 6 times mortgage to afford anything substantially bigger.

Life is ticking away on us all..... I want HPC over and done with.

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Are you kidding? Seriously? We're all mortal. I just want to get on with my life, and I'm really sad that my kids have grown up in town center house with a small garden rather than somewhere out of town and bigger because, despite having no mortgage and a huge salary by the standards of most, I'd have to take out a 5 or 6 times mortgage to afford anything substantially bigger.

Life is ticking away on us all..... I want HPC over and done with.

+1

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Being single, having no kids and part way through a part time uni course relevant to my employment the longer the crash is drawn out the better. 2015/2016 will suit me just fine.

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+1

+2

I've served my time, and now I just want to get out. I've considered giving up on waiting, but the price difference between purchase and rent is so huge (even if I could get a mortgage) that it is simply un affordable

I have that its almost impossible to save now as so much goes to the landlord and all the costs involved in new rentals when we are forced to move. With the high cost of living with 2 kids, wife and one wage, the deposit has barely budged!

We want to buy a second car, a new sofa bed and our computer is going to die on us soon, but we don't want to spend the deposit money.

I want to start a new business designing and publishing board games, but once again don't want to use the deposit money to start up, and it will be a darn sight easier to do if we owned rather than rented!

So no, I am not happy they have extended it. In fact i'm livid and depressed about it!

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"Prolonged the Crash"??? I'm still waiting for it to start.

It's taking so long I've managed to save/invest/speculate enough to buy one for cash but am not inclined to as they are still such poor value for money in England.

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Are you kidding? Seriously? We're all mortal. I just want to get on with my life, and I'm really sad that my kids have grown up in town center house with a small garden rather than somewhere out of town and bigger because, despite having no mortgage and a huge salary by the standards of most, I'd have to take out a 5 or 6 times mortgage to afford anything substantially bigger.

Life is ticking away on us all..... I want HPC over and done with.

+2

In the meantime I have got hitched, moved out of central London (to suburbs) and got a new (relatively safe) job, so should be able to ride out the next few years of austerity/instability.

For me, its 20%+ crash in next 3 years or bye bye London & SE. Can't justify anything longer than a 10-15 year mortgage (the days of 25/30 year mortgage, IO, property ladder-get-bailed-out-by-1970s-inflation are over) as I'm factoring little or no pension so need to look after myself in cash or other income.

Midlands allows me to buy a proper family home for cash /small mortgage.

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Are you happy they have prolonged the crash ?

Have you managed to save more, invest in other things, change career, etc ? Or has it worked out worse ?

no. its been an additional 4-5 years of sh1t which i could have used to pay down part of the mortgage. now to get that cost back they are going to have to crash hard. its all been a waste of my time and a waste of everyone elses trying it on for another 5 years.

also, my vehicle is now due for renewal and its just another thing im holding off until i see some downwards movement. i am NOT getting into 4 years car finance AND renting a sh1te box. im spending nothing at the moment. its all on hold. no crash and ill use it for retirement looking to quit work in the next 10 years. calling it - a waste of time.

.

Edited by right_freds_dead

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Personally I reckon the best thing for everyone is to get it over and done with ASAP. Dragging out the inevitable is pretty pointless IMO.

Having said that. I happen to be lucky and earning good cash just now. So the longer it drags on and prices fall, IFI can continue to earn this money, the better for me.

If I get really lucky - instead of managing to buy a house debt free in 2-3 years, I may just get to that point and realise that I can do that AND have a wad left over. Now that would be seriously shit hot.

Then again - maybe it will all go teets up. Either way - I plan to enjoy myself with a debt free existence as much as I can. I have very little influence on the bigger picture so not much point worrying about it.

The chances of me deciding to buy a house before 2012-2013 are slim to none.

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No. It will have to be a 20 year mortgage now for us (and many others I guess) which means we'll want to pay even less for a roof over our heads.

Another thought was to keep renting the nice family house and buy somewhere smaller to retire to.

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Are you happy they have prolonged the crash ?

Have you managed to save more, invest in other things, change career, etc ? Or has it worked out worse ?

It has been a p.i.t.a. I made good profits before the world woke up, but after that trading became more difficult.

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Are you happy they have prolonged the crash ?

Have you managed to save more, invest in other things, change career, etc ? Or has it worked out worse ?

Its excellent, they have turned 35% drops into 50%+ drops.

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  • 153 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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