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Wouldliketobuy

Lone Voice, Beginning To Have Self Doubt

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My friends brother is 20 and on a very good wage for a 20 yr old, about £30k. He is living at home and was recently looking at places to rent. I asked my friend how he was going on and he said he had decided to buy. My friend has told him he cant lose as if in a few years he loses his job and he cant make the repayments he can always sell his house as he wont lose money on it. I simply asked what happens if there is a crash, to which my friend replied "there wont be another crash, things are different now".

My friend then asked me why we had not bought yet. I said I was waiting for the housing market to cool down and we are thinking of buying in 3 - 5 years. He said I was crazy and that houses would be even more expensive by then and I should look now.

I feel I am a lone voice and with the recent "I`ve bought" posts on this forum from a few of the long term members I am beginning to wonder whether I have my head in the sand. Everyone I speak to (exept for on this forum) thinks the crash isnt going to happen. Sometimes i feel like a fool in a world full of property owning winners.

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My friends brother is 20 and on a very good wage for a 20 yr old, about £30k. He is living at home and was recently looking at places to rent. I asked my friend how he was going on and he said he had decided to buy. My friend has told him he cant lose as if in a few years he loses his job and he cant make the repayments he can always sell his house as he wont lose money on it. I simply asked what happens if there is a crash, to which my friend replied "there wont be another crash, things are different now".

My friend then asked me why we had not bought yet. I said I was waiting for the housing market to cool down and we are thinking of buying in 3 - 5 years. He said I was crazy and that houses would be even more expensive by then and I should look now.

I feel I am a lone voice and with the recent "I`ve bought" posts on this forum from a few of the long term members I am beginning to wonder whether I have my head in the sand. Everyone I speak to (exept for on this forum) thinks the crash isnt going to happen. Sometimes i feel like a fool in a world full of property owning winners.

Some (many?) are saying prices won't drop, however they are not saying prices will rise. Even those with a vested interest are not claiming that prices will rise for a long time so you have nothing to lose by waiting.

......and possibly (probably?) a lot to gain.

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well you can follow the herd like a sheep

however, those who believe house prices will rise continuously have to explain where is the money going to come from,.

money doesnt grow on trees.

i am not sure whether there will be a fast crash or a slow decline. however, the end result will be the same..

take a look at posters such as dr bubb.

if you can rent at a reasonable cost and a saving to buying, theh dont feel pressurised.

enjoy life and buy when prices are sensible again

you may feel you are missing out by not taking a huge ball and chain.

well you will retain your liberty.

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Guest growl

The people from this forum that have bought recently have either been very lucky the find the right property at the right price, or personel circumstance have forced them to.

Your freinds brother is very lucky to be at home at twenty on that wage. I got kicked out at that age and was left homeless a few years later. That was just before the last hpc crash.

Please tell your freind to tell his brother to stay at home and save his money(something I didn't do was save mine...most people don't at that age). If your freind doesn't believe you then tell him to watch all the bearish programs and read the news articles that are appearing on telly. If you know his brother and you really want to help him not to make the worst decision of his life. Then buy the next newspaper with a really bearish article especially if it mentions the last crash and give the paper to him.

But in the end if they don't listen, then you can't help them. At least he will be young enough to learn and hopefully survive this crash.

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My friend has told him he cant lose as if in a few years he loses his job and he cant make the repayments he can always sell his house

LOL, yeah, cos it's THAT easy. Show him the Expats thread that crops up from time to time on the main forum to see that selling a house can take months, even years in extreme cases, and you certainly don't want to be selling in extremis (ie if you have lost your job) as then you will DEFINITELY lose money.

http://www.housepricecrash.co.uk/forum/ind...90entry201190

My friends brother is 20 and on a very good wage for a 20 yr old, about £30k.

What does he do if you don't mind me asking? Is it one of the professions, is it secure, or is it a sales-commission type job?

the recent "I`ve bought" posts on this forum from a few of the long term members

2 have bought out of the 3000-odd members of HPC, and one of those was because of an unforeseen family tragedy. If this kind of flimsy justification is all it takes to scare you into buying, I'm surprised you didn't buy long ago.

Edited by IPOD

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My friends brother is 20 and on a very good wage for a 20 yr old, about £30k. He is living at home and was recently looking at places to rent. I asked my friend how he was going on and he said he had decided to buy. My friend has told him he cant lose as if in a few years he loses his job and he cant make the repayments he can always sell his house as he wont lose money on it. I simply asked what happens if there is a crash, to which my friend replied "there wont be another crash, things are different now".

My friend then asked me why we had not bought yet. I said I was waiting for the housing market to cool down and we are thinking of buying in 3 - 5 years. He said I was crazy and that houses would be even more expensive by then and I should look now.

I feel I am a lone voice and with the recent "I`ve bought" posts on this forum from a few of the long term members I am beginning to wonder whether I have my head in the sand. Everyone I speak to (exept for on this forum) thinks the crash isnt going to happen. Sometimes i feel like a fool in a world full of property owning winners.

Thats nuts...I've had a similar wavering of belief myself a few months back. Week in week out you would read posts repeating themselves about the imminent crash, and then you would see a positive fluctuation of some sort which would alarm you.

But look at the situation today. Its worse than is was last week, and this trend looks set to continue. Look at the state of the economy, and further still the U.S : even the mainstream media is picking up on it. Are you seriously considering buying at this time? Some people WILL buy at these times, be it out of necessity, ignorance or a large bank balance. But if you dont fit into any of those categories, just wait. The next year is going to get interesting. My advice, save hard now and wait for the bargains to start popping up (in a few years!).

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Guest Time 2 raise Interest Rates

Can totally understand people buying of late for their own personal

reasons, but anyone thinking of buying should at least wait 'til the

Spring. By doing my own research, with regards to my local area,

the market is down 10-15%. Before long, the VIs will no longer be

able to spin the numbers to their advantage. The truth will out. :)

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My friend then asked me why we had not bought yet. I said I was waiting for the housing market to cool down and we are thinking of buying in 3 - 5 years. He said I was crazy and that houses would be even more expensive by then and I should look now.

When I was a young lad of 19 back in Summer '88 I had various adults in positions of authority telling me that I "must get my foot on the housing ladder", I was advised to do anything I could to secure a purchase whether that be get excessive mortgage or club together with a group of friends.

Fortunately I was on such crap money that it just wasn't going to happen.....Not having money actually saved me a fortune, as I was sure to take their advice if I had.

My advice?...............Watch out for people who give advice.......

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Guest prudence

Do you believe your brother's friends know what they are talking about. Most people are prepared to pontificate on many subjects on which they really know sweet f*** all...........

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I simply asked what happens if there is a crash, to which my friend replied "there wont be another crash, things are different now".

Whenever someone tells me this I simply reply "that's lucky" and leave it at. As you change the subject you can see the doubt on their face... it's priceless!

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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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