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LittleSteroid

Please Encourage Me!

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I don't believe IR will go anywhere this year....I don't believe houses will cost less....I've lost my shield and slowly turning "neither"!...HELP!

JUMP! :lol:

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I don't believe IR will go anywhere this year....I don't believe houses will cost less....I've lost my shield and slowly turning "neither"!...HELP!

I am only just coming round to this new reality. My guess is when interest rates do rise they won't go much above 1.5% in five years and 2.5% in ten but only if we have a genuine recovery - hence mortgage deals are now 2.5-3.5% above BoE. Where I think you are wrong is that houses won't cost less because I think they will. I can see house prices undershooting to 3x wages in the next few years before quickly rebounding to 3.5-4x and sticking there. That's a big drop around the corner.

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I don't believe IR will go anywhere this year....I don't believe houses will cost less....I've lost my shield and slowly turning "neither"!...HELP!

Interest rates will go up, and house prices will fall. The thing is probably not by much.

I can see localised crashes where people are forced to sell due to job losses, but not a big fall overall.

Until something shakes up the market it looks like it will meander along with no one buying and no one selling.

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The shit hasn't hit the fan yet, but the time for it to do so is rapidly approaching.

Huge numbers of public sector redundancies in the near future, inflation rising very quickly, the general publics' income being squeezed which affects the amount of disposable income they have.

Don't let yourself be fooled, things are going to get tougher in the UK and this will lead to a drop in house prices, interest rates have ceased to follow any logical pattern but I expect them to rise, at least once, during this year.

Your posts make you sound as if you're in a panic, if you're scared that your savings will be devalued due to to inflation, buy the house you want at today's prices, if you're more concerned that you'll buy and then lose money on a depreciating assett, then don't buy.

Unfortunately, life doesn't come with a guarantee, some you win, some you lose.

Some are bound to lose more than others though. ;)

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I can see localised crashes where people are forced to sell due to job losses, but not a big fall overall.

"ooh, look Mavis - the Joneses on the next street along have had to sell at a discount because Trevor lost his job. Thank god we aren't his neighbours, and live on this unaffected street, where our house prices will remain high".

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Anyone silly enough to think that a) we have already had the real recession and it won’t get any worse and that B) the cuts starting to bite this year and will continue for years to come won’t have an effect on house prices.........jump in, the water is warm.......with the piss from those over exposed to NE having brought too late, i am sure they will thank you for your impatience in the face of the shitstorm bearing down on HMS HPI.

2011 will prove to be the year that this shitjust got real.

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Wily Coyote jumped off the cliff 3 years ago. Somehow he managed to keep his legs spinning for all that time. However, IMO, he has just started looking down.

wile_coyote_1005.jpg

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I've decided to put my savings to better use and buy.....

....a campervan so we can do some touring around UK/Europe

I've been looking at my deposit fund recently, it's quite boring sat there doing bugger all so we've agreed another 12 months with our LL (and even got them to drop the rent by £100 per month.) This will cover the depreciation on the van which I'll sell next year and put the proceeds back in my deposit fund. Or that's the plan anyway.

Edited by Reck B

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Wily Coyote jumped off the cliff 3 years ago. Somehow he managed to keep his legs spinning for all that time. However, IMO, he has just started looking down.

wile_coyote_1005.jpg

Perfect Summary and nicely put!

We are about to hit FEAR. Buiying now would be like buying in early 2007, notso aweful as it could be but still stupid. We have CAPITULATION and DISPAIR to go before buying makes sence.

Whether interest rates rise or not mortgages are not available and so houses aren't selling at the prices people are asking for. That will certainly lead to some impressive negative HPI figures over the next few months. Once the sheeple see that attitudes will really start to change. People won't be trying to buy but not getting mortgages, they will been keeping as far away from mortgages as they can. That is when you want to buy.

If nothing else fall back on the thought that houses are certainly not going to get more expensive over the next few years so there is no rush. Why rush into the most expensive purchase of your life?

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I've decided to put my savings to better use and buy.....

....a campervan for the summer.

I've been looking at my deposit fund recently, it's quite boring sat there doing bugger all so we've agreed another 12 months with our LL (and even got them to drop the rent by £100 per month.) This will cover the depreciation on the van which I'll sell next year and put the proceeds back in my deposit fund. Or that's the plan anyway.

Have fun :).

We've just renewed our rental for another year too.

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I don't believe IR will go anywhere this year....I don't believe houses will cost less....I've lost my shield and slowly turning "neither"!...HELP!

Why the egerness and keenness to buy?...how can you lose if you don't?......the winners will be the the ones who won't.

....look at many places not that far away, look at the many who have regretted ever buying and wished they had rented instead.....they are stuck with a burden a chain around their neck that they can only sell at a loss.

....sit back and watch it unfolding, safe that there is plenty of change to come. ;)

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If nothing else fall back on the thought that houses are certainly not going to get more expensive over the next few years so there is no rush. Why rush into the most expensive purchase of your life?

It's probably the inflation eroding your deposit issue.

I think I'm probably going to rent for a few years as I'm not sure whether I'll lose my job and it's the safe option until this whole thing is over :)

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It's probably the inflation eroding your deposit issue.

I think I'm probably going to rent for a few years as I'm not sure whether I'll lose my job and it's the safe option until this whole thing is over :)

If the money is for a deposit on a house then the only thing that can erode it, is a rise in house prices.

The cost of chocolate has no bearing on money going to be used for house deposit, unless it is a house made of chocolate.

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  • 312 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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