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:angry: I can't believe a mate of mine, he's just bought a house with his gf for 100k

it's only a 1 bed through by light terrace. It's a good job he hasn't got a cat because he wouldn't be able to swing it! :lol: I'm not kidding the place is a shoebox. I've tried to explain about a house price crash to him, but he will only listen to members of his family who constantly say house prices always go up!!

One of his relations recently told me in the pub that house prices were going to double next year!! :lol::lol: What do you do??!!

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:angry: I can't believe a mate of mine, he's just bought a house with his gf for 100k

it's only a 1 bed through by light terrace. It's a good job he hasn't got a cat because he wouldn't be able to swing it! :lol:  I'm not kidding the place is a shoebox. I've tried to explain about a house price crash to him, but he will only listen to members of his family who constantly say house prices always go up!!

One of his relations recently told me in the pub that house prices were going to double next year!! :lol:  :lol:  What do you do??!!

You cant do anything. But when he comes to you whinging that he is in neg equity you can tell him "I told you so" Harsh but fair I think.

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You nod sympathetically and be quiet.

You save for the next 2 years+.

You put up with him and his girlfriend telling you about their latest trip to IKEA and what colour paint they've just bought.

You deflect his increasingly anxious questions and digs with awkward silences:

"When are you goingt to buy?"

"Renting's a mugs game."

You play Buddha for a few years in the face of passive aggressive comments from your friend.

You then buy a flat in 2007-08 which is bigger and better than his. You also have an extra £10K in your pocket which you use to buy first class furnishings and then you brace yourself for his first visit to your new pad.

Him: "How on Earth are you afforidng all this?"

You: "Timing my dear boy, timing."

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I can't believe a mate of mine, he's just bought a house with his gf for 100k

it's only a 1 bed through by light terrace.

I was looking at houses around where my girlfriend's parents live in Canada last night. Nice-looking five-bedroom place for... a whole 107,000 pounds.

I'm almost tempted to buy it and rent it out to my girlfriend until I can move over :).

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a friend is investing in houses.

currently this is his pension plan.

He has bought three..

He was asking me if I was going to buy now I had another pay rise.

I told him that as prices had been falling faster then I could pay of a mortgage for over a year I didn't think it was the right time.

I told him I was considering myself to be looking after my house investment by timing my purchase.

I explained that with the debt bubble now crushing the economy and that we could begin a slow spiral into a recession I was more interested in ensuring I was working for the best employer to survive the recession..

His eyes had a panicked look that had arrived when I mentioned the price drop.

He had paid asking price against each property.

What staggered me was that someone was prepared to borrow almost a third of a million without even glancing at market trends..

an amount it would take him decades to earn and he hadn't even spent a week investigating the current market..

To this end I felt bad..

He is struggling to rent the properties he had bought.

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You play Buddha for a few years in the face of passive aggressive comments from your friend.

You then buy a flat in 2007-08 which is bigger and better than his. You also have an extra £10K in your pocket which you use to buy first class furnishings and then you brace yourself for his first visit to your new pad.

Him: "How on Earth are you afforidng all this?"

You: "Timing my dear boy, timing."

Then you nick his girlfriend :lol: (if she's worth it)

Just kidding of course!

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I was looking at houses around where my girlfriend's parents live in Canada last night. Nice-looking five-bedroom place for... a whole 107,000 pounds.

I'm almost tempted to buy it and rent it out to my girlfriend until I can move over :).

That might be a prudent decision depending on whereabouts in Canada you intend buying.

Here in Calgary YOY prices are +13% ovreall, and even higher in the inner city areas as people are realizing that the "dream home" in the outer suburbs may give them more space but they have to spend increasing amounts of time in their car burning increasingly expensive fuel.

We bought a 4 bedroomed house here (inner city Calgary) last August and it's been conservatively valued at 20% higher this August. But of course that's unrealized.

We spent 60% of the equity from our house in west London on the house here, I'm monitoring the rises here, the falls in west London and the weaking GBP vs CAD to pin point the time when the value of our new house equals the value of our old one :)

Edited by Alberta Tatlock

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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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