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it's not guys like this who are to blame for that, it's the liar loans and the 120% LTV's etc etc

he made a sensible move, not heavily exposed, so what

straw man

that's not what i said

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I guess there wasn;t any previous sale prices for the place you bought, but how about on the same street....whaqt was the sale prices of a nearby house in say 1997 and how much should that be now in line with inflation....that would be a better measure than basing your buying on an E.A. asking price.

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FAIL

property has a dividend so is more an investment than a store per se

paper currency is a means of exchange and not intended as a store of value (otherwise central banks wouldn't deliberately encourage limited inflation)

and yes gold is a store of value, so it Is different, and no you can't compare it properly to houses as it's hard to hide a house

hmm.. OK.

my point is that people store the value of their labour in cash, property, gold, shares and various other things

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hmm.. OK.

my point is that people store the value of their labour in cash, property, gold, shares and various other things

that's not really a point though is it, you've just defined value, that's all, and it certainly doesn't support your other point, which is the more important consideration

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We knocked them down to £249,995 to save paying stamp duty as first-time buyers. With a 40% deposit First Direct gave us a mortgage which tracks the base rate plus 1.69% - so 2.19% over 15 years.

The premise of the decision was – money in bank earning no interest and wanting the freedom to make our home our own (without landlord hassle). We could cope with 15% interest rates and if interest rates remain low, worst case scenario re: house prices, the property will not deprecate quicker than we pay off the mortgage. Fortunately, as we speak, the property is worth a little more than we paid for it.

As long as you run with the assumption that most other FTBs in your position have chosen to wait so they can spunk an extra £2,500 on stamp and pay higher interest rates, then you're probably right, the market will have all the support it needs going forward.

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why whats happening next week, ? HPC? :D

The new big leg down is always next week....one day one of us will be right :lol:

It might not be next week but we all know it's coming.

Spain is the new problem...then it will be italy....wait till it's the UK then it will be a laugh a minute,

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The new big leg down is always next week....one day one of us will be right :lol:

It might not be next week but we all know it's coming.

Spain is the new problem...then it will be italy....wait till it's the UK then it will be a laugh a minute,

I don't really believe in legs down - different areas, and sub-areas, in terms of houses, fall from time to time, and the cumulative effect is an overall fall

similarly for the economy and personal wealth

drip drip

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I don't really believe in legs down - different areas, and sub-areas, in terms of houses, fall from time to time, and the cumulative effect is an overall fall

similarly for the economy and personal wealth

drip drip

Except for London...It's different....It's really f**ked.

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The new big leg down is always next week....one day one of us will be right :lol:

It might not be next week but we all know it's coming.

Spain is the new problem...then it will be italy....wait till it's the UK then it will be a laugh a minute,

it will be years before it comes, Uk is obvioulsy different there will be falls in house prices but no crash like ireland, will be more japan

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it will be years before it comes, Uk is obvioulsy different there will be falls in house prices but no crash like ireland, will be more japan

that's my guess, but it is of equal magnitude

a bit like being shot or poisoned, not much difference in the end

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Appreciate your support.

from £269,999

update to follow 2014/15

So you knocked them down 7.5% from a 2010 price, but the house needs lots of work? What did similar houses in nice condition sell for in 2007 in the same street? Should have bought in late 2008 early 2009 and got married in 2010. From 2007 to late 2008 even the S/E was 20%-30% down.

We paid in the S/E £230k for a newbuild 5 bed in Q1 2009 that sold for £300k+ in 2007.

M

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many posters have wasted almost a decade renting and waiting for prices to come down. It's hard to admit you are wrong when you have invested so much time and energy in a cause.

A wasted decade! So much time and energy!

I look at 'homeowners' who bought since 2004 and I think those comments are more appropriately aimed at them.

Renters by and large have the freedom to actually live a bit, unless you consider weekends of DIY and being stuck in the same neighbourhood year after year time well spent. I happen not to, but each to their own.

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A wasted decade! So much time and energy!

I look at 'homeowners' who bought since 2004 and I think those comments are more appropriately aimed at them.

Renters by and large have the freedom to actually live a bit, unless you consider weekends of DIY and being stuck in the same neighbourhood year after year time well spent. I happen not to, but each to their own.

It depends. If you have kids in a local school and they have friends within walking distance , it's not that much fun renting with all the uncertainty that the LL might decide to change your life at a whim . I'd rather pay interest to a bank and capital off the mortgage than have a better lifestyle but allow someone else such control over my plans .

Each to their own I suppose .

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It depends. If you have kids in a local school and they have friends within walking distance , it's not that much fun renting with all the uncertainty that the LL might decide to change your life at a whim . I'd rather pay interest to a bank and capital off the mortgage than have a better lifestyle but allow someone else such control over my plans .

Each to their own I suppose .

Depends where you buy and where you rent.......the most expensive places don't in most cases offer the best quality of life. ;)

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A wasted decade! So much time and energy!

I look at 'homeowners' who bought since 2004 and I think those comments are more appropriately aimed at them.

Renters by and large have the freedom to actually live a bit, unless you consider weekends of DIY and being stuck in the same neighbourhood year after year time well spent. I happen not to, but each to their own.

If you've no intention of ever buying (downsides of stuck in the same neighbourhood, DIY etc) then how did you come to have so many posts on this site?

I suspect most people here would like to buy a house - at the right price.

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Cracking effort. Even by the embittered standards of this site these are some sour responses here.

On a 15 year repayment, this mortgage will cost around 1k per month. Probably not that far off the rent (Although the OP didn't include rent info). If the base rate stays low and HPI remains flat/mildly negative it certainly wont be the worst decision in the world. To the posters that say that'll never happen, hows your track record at calling the situation over the last 5 years?

This used to be a fantastic site for actal debate. It would be a shame if it ended up as just another place where anyone with a different opinion from the herd gets castigated into silence IMO.

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I was travelling all day yesterday so missed this one. Shame, it would have been fun to contribute :lol:.

EA type post with all the usual phrases, backed up by a handful of trolls and sleepers calling anyone who disagrees with buying now jealous, embittered or sour :rolleyes:

We will be seeing more of this kind of desperation as things continue to deteriorate for the indebted and those who earn their living from the sale of property.

Anyway, must go, 500 miles to drive today.

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If you've no intention of ever buying (downsides of stuck in the same neighbourhood, DIY etc) then how did you come to have so many posts on this site?

I suspect most people here would like to buy a house - at the right price.

again, that's not what he said

do you like making peoples' intentions up for them and then constructing fabricated arguments around them?

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