Papa Serf Posted December 2, 2010 Share Posted December 2, 2010 In an ideal world, selling your house for £1 more than you bought it would be a good deal. However, many people are betting that the extra cash realised on a sale will be used as their pension. If they are 5 yrs from retiring, no or little savings, then every time they see a "bad" article saying prices falling / crashing means they have less to spend when they retire. For every article I saw prior to 2008 saying not to use your house as your pension pot, I saw another 5 saying it was a great "investment" as prices would only ever go up. The only way their home will provide a pension is if they sell it and downsize. What they don't realize is when they get to retire they don't actually want to sell up and move to a cheaper property with a tiny garden. Quote Link to comment Share on other sites More sharing options...
eric pebble Posted December 2, 2010 Share Posted December 2, 2010 Houseprices falling ARE good for everybody except for those people who have bought a house at the peak of the market. Which, in reality, is not very many people. Most people are plain greedy whether they be BLT investors or householder who own one home. I ask some of my friends how much they think thei house is worth and they usually give me some overinflated figure - despite being in the property for a very long time. I sold my house last year and loads of people told me that I had priced it too low despite it being on the market for a lot more than I had paid for it. As long as the price is the same, at least, it's ok imo. Wise. People never ask the question: WHO is going to buy property X, and WHERE is he/she going to get the "money" from.... Probably because the "money" was derived from a LIAR LOAN - which is "magic money" that just falls from the sky.... Quote Link to comment Share on other sites More sharing options...
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