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And So Another Year Passes


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About the best advice you will get on here these days.

Given the nature of the site you do have to ask yourself if it was wise to listen to mainly constant negative views? Unless you were also on housepricesoar.co.uk as well.

Still nothing is lost. Stop waiting.

Live your life, enjoy your family and do what your gut tells you.

Not negative views...positive views for positive people that can see how lopsided and manipulated the property market had become.

Who says someone renting a nice property, in a nice place, near to a nice job, for a good price is not living a nice life.... ;)

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(...) but because we expect houses to be a lousy investment over the next decade or even over the next generation, we'll get the smallest house we need rather than the biggest house we can afford. The cash difference will go into high yielding FTSE shares with global exposure, and the dividends from those shares will go into the pockets of chefs and hoteliers. Fvck it!

Excellent forecast, and very wise plan!

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If you don't need a house that's fine. Others have wives, kids, want to move on with their lives.

I've been on this site since the beginning, 2003 or 2004 I don't remember which, and the sky was about to cave in back then.

thats seven or eight long years for a lot of these posters, wishing away their lives to save a few grand. the average life of a UK mortgage is 8 years, some of them coulda bought back then and been done by now

money aint everything

EASY! remember not to hog the place...

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I've been a long term follower of HPC (5 years or so)... every day I log onto Forex calendar and see what stats are coming out in the next few days... anything to show prices have come down, or something that might push prices down.... I always get a sense of deja vu every time I say to myself "hmmm..... inflation figures out in 2 weeks..... only 3 weeks until nationwide figure is out... etc".

Well a year ago today I made a friendly bet with a colleague, along the lines of house prices will fall 25% in the next year. Today the year is up (I had put a note in my calendar!)... and prices are little changed. I know inflation has effectively reduced prices by 5-6%, but my wage has stayed the same... so I'm no better off.

The thing that really gets me down is that I have spent another year watching and waiting.... looking at the same screens... and stats.... how much longer do I have to wait? I'm resigned to renting for another year or two.... but my first child is due in 2 months, and I really want to make a nice home.... decorate to our tastes, make a good go of the garden, take pride in our house.... surely one day soon prices will return to a sensible level. Please.

We are in an almost identical situation, and we feel exactly as you do.

We are currently trying to find a longer term let, at least 2 or 3 years, and from a landlord that would "allow" us (ridiculous) to have children and pets in the next few years, if we decide to. (Totally absurd to have to ask for these things. Britain is fecking medieval.) And it's been very very difficult.

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I've been a long term follower of HPC (5 years or so)... every day I log onto Forex calendar and see what stats are coming out in the next few days... anything to show prices have come down, or something that might push prices down.... I always get a sense of deja vu every time I say to myself "hmmm..... inflation figures out in 2 weeks..... only 3 weeks until nationwide figure is out... etc".

Well a year ago today I made a friendly bet with a colleague, along the lines of house prices will fall 25% in the next year. Today the year is up (I had put a note in my calendar!)... and prices are little changed. I know inflation has effectively reduced prices by 5-6%, but my wage has stayed the same... so I'm no better off.

The thing that really gets me down is that I have spent another year watching and waiting.... looking at the same screens... and stats.... how much longer do I have to wait? I'm resigned to renting for another year or two.... but my first child is due in 2 months, and I really want to make a nice home.... decorate to our tastes, make a good go of the garden, take pride in our house.... surely one day soon prices will return to a sensible level. Please.

Can I make a suggestion you try and negotiate a long lease AST either on your current home or another one? I'm not saying all landlords will agree to a 3 year AST, but no harm in trying.

Oh, and congratulations on your impending new arrival.

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.... but my first child is due in 2 months, and I really want to make a nice home....

yeah come on babies don't give points for decor, they won't notice it's rented and mark you down as parents. They will however notice if you a moping around miserable and bad tempered because you can't have everything you want! So get over it ;)

(i'll try to take this advice myself!)

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yeah come on babies don't give points for decor, they won't notice it's rented and mark you down as parents. They will however notice if you a moping around miserable and bad tempered because you can't have everything you want! So get over it ;)

(i'll try to take this advice myself!)

Great post.

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This has always been the case.

If you are going to buy and live in the home for 15 years, then get on with it if you can afford it.

Hanging around for a bargain or for prices to conform to some random mental anchor ("I'll only buy when prices return to 200[x]) levels less [x]%") is the mistake many on here seem to have made.

I think the point of the HPC that has occurred is that there has been a reduced bunch of sales go through, some of those sales were still at silly prices with stubborn vendors probably with good quality houses, whilst most other vendors have largely held out without selling, the only other people actually selling are then those who have taken a hit to shift their property.

The trick to gaining from the crash is to find a forced seller with a house you like or which you can modify to your liking.

This is what I did. Found a house being sold by a large National House Builder who had taken it as a part-exchanged so they could sell a new one to the previous owner of my house. The bottom then fell out of the market and they were left with a house they weren't actively promoting as they would with their own developments and which was being sold with little focus as standard residential sales through an EA. They paid £900k to buy my house in the Part-Ex, I bought it just over 12 months later for £750k. At the time our surveyors valuation was £850k, so we felt safe paying £750k.

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I'm sure both of those people are very happy

The other 10 million have a cocktard for a landlord and it's shit

Sorry to hear that...but like most things there are good landlords and bad landlords....good tenants and bad tenants...good houses and bad houses...there are the greedy and the not so greedy. ;)

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Sorry to hear that...but like most things there are good landlords and bad landlords....good tenants and bad tenants...good houses and bad houses...there are the greedy and the not so greedy. ;)

Sorry winkie but, statistically, I have to agree 99% with pilchardthecat here. The chances that you will find a good house, for a good price, from a good landlord, in a good area, are IMHO 1 in 100.

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I'm in the same situation and I agree it's frustrating to say the least.

However, I've tried to improve the situation by only renting from professional landlords. I know it's a faff having to sort the wheat from the chaff but my last rented was three and a half years, landlord was a bit ******** on the contract stuff but he'd been in the game for decades, would turn up in 5 minutes with his plumber when the boiler broke down and changed it faster than I could have got it done myself. He knew I was a good tenant so was helpful if I wanted to do things like re-lay the patio. I only moved for family reasons, but then ONLY once I'd found another good landlord.

This place I'm currently in is falling apart a bit and the LL doesn't want to spend any money on it, fair enough, that's reflected in the rent and I like doing a bit of DIY! And after all, it doesn't really cost that much to sort out the garden, carpets and apply a lick of paint. But the best thing is that he has no intention of selling it, ever, so I can stay here as long as I like. I feel very at home, but only because I chose carefully.

If houseprices don't want to come down then so be it. I'd rather live in this 3 bed 1940s detached house with practically no neighbours for the next 30 years if the alternative, for the same cost, is to live in a sh*tty little new build surrounded by the working class who I can hear watching X Factor next door.

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Sorry winkie but, statistically, I have to agree 99% with pilchardthecat here. The chances that you will find a good house, for a good price, from a good landlord, in a good area, are IMHO 1 in 100.

.....much depends on how much the landlord needs the money, how indebted, over leveraged they are, how well they know and trust you....to be honest a lived in house is better and healthier house than an empty house...so to some landlords if they don't require use of that property you are a caretaker for their property 'investment'...the rent is a bonus.......but yes you have to look hard to find them. ;)

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I first wanted to buy in 1999, when prices were 8 times my salary. Ever since then they have risen faster than my salary.

I'm not sitting around trying to save £5k, I really just cannot afford a house (£100k budget versus £160k house prices).

I am fed up with moving from rental to rental.... either putting up with s**t decor, or paying to decorate then moving out.

I am not waiting for armageddon.... I'm just p****d off that the the crash is so drawn out.

My advice is probably unwelcome. But if I were in your shoes I would be less concerned about decor. If you can find a reasonable house to rent with a reasonable landlord then I would put up with the decor. Just my two pence worth.
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About the best advice you will get on here these days.

Given the nature of the site you do have to ask yourself if it was wise to listen to mainly constant negative views? Unless you were also on housepricesoar.co.uk as well.

Still nothing is lost. Stop waiting.

Live your life, enjoy your family and do what your gut tells you.

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I feel your frustration. UK property is beyond mad.

I STR'd at the end of 2005, my girlfriend STR'd at the end of 2007, and we have rented since. House prices where we sold, in the South West of London, have increased since we bailed out, and in Lymington, where we want to buy, they've been flat.

We're over renting so whatever house prices do next we'll be buying by the end of this year, but because we expect houses to be a lousy investment over the next decade or even over the next generation, we'll get the smallest house we need rather than the biggest house we can afford. The cash difference will go into high yielding FTSE shares with global exposure, and the dividends from those shares will go into the pockets of chefs and hoteliers. Fvck it!

Why wouldn't you want to do that anyway? Why would anyone want to put everything that had and more into buying the biggest?.......a little bit of this and a little bit of that. ;)

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I've been a long term follower of HPC (5 years or so)... every day I log onto Forex calendar and see what stats are coming out in the next few days... anything to show prices have come down, or something that might push prices down.... I always get a sense of deja vu every time I say to myself "hmmm..... inflation figures out in 2 weeks..... only 3 weeks until nationwide figure is out... etc".

Well a year ago today I made a friendly bet with a colleague, along the lines of house prices will fall 25% in the next year. Today the year is up (I had put a note in my calendar!)... and prices are little changed. I know inflation has effectively reduced prices by 5-6%, but my wage has stayed the same... so I'm no better off.

The thing that really gets me down is that I have spent another year watching and waiting.... looking at the same screens... and stats.... how much longer do I have to wait? I'm resigned to renting for another year or two.... but my first child is due in 2 months, and I really want to make a nice home.... decorate to our tastes, make a good go of the garden, take pride in our house.... surely one day soon prices will return to a sensible level. Please.

I do sympathize with you but the crash is happening if you had ignored the idiots on here and bought gold so as to avoid the debasement effects on your wealth of the falling currencies. You either were unfortunate that you missed all the warnings as to what was taking place or you chose badly like some on here. To be fair, buying a house should be fair and affordable not some casino.

Edited by endgame
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If you don't need a house that's fine. Others have wives, kids, want to move on with their lives.

I've been on this site since the beginning, 2003 or 2004 I don't remember which, and the sky was about to cave in back then.

thats seven or eight long years for a lot of these posters, wishing away their lives to save a few grand. the average life of a UK mortgage is 8 years, some of them coulda bought back then and been done by now

money aint everything

I have a wife and children and rent.

Somehow we manage to survive in our 600K property, paying significantly less than a mortgage to live there.

We had to wait two days for the washing machine to be replaced, as well. O the tales of woe I could tell.

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I think the answer lies in asking a different question.

Instead of wanting a "house".

How about wanting to be "rich". This will solve the house problem (and afew others). This is not about working an extra day a week, it goes much deeper. Look at how money works, this is a start.

---

The reality is, that over the last decade (thanks to Labour), if you work, most of your income is taken to support other people,; you are a serf to your company/boss. Not only that, you have to financially carry the banks, the landlord, a legion of public sector workers, workshy benefit scroungers, immigrants for benefits, and those in retirement who are living longer, the massive NHS bill, housing benefit, tax credits, disability allowance, motability, PFI and of course, inflation.

There is no wealth left over for you to buy a house.

59609682-russian-flying-150x118.jpg

How much more will you carry before you break?

Edited by Money Spinner
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