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Shamus

Ea Opinon - Worrying 30-somethings!

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I have been warning my Mother-In-Law about selling her late Mother's flat in Dorset for some time now. Her husband thinks that she should keep it as SIPPS will have an effect in April.

I however advised she ring up to book some EA's in for a valuation. She asked one EA she spoke to about the current market and said that her Son-In-Law (me) thinks the market is going down. Before he answered the question he asked her how old I was but before she could reply he said I bet he is 35! Which is in fact right. He went on to say that there will be no price falls and talk of them is total rubbish. He said he has been in the EA game for 40 years and that it was a typical worry among my age group!!

I had to laugh :D

Me thinks he is simply making himself feel better. I don't think many EA's actually want to believe what is about to happen. If they bothered looking at the facts they might learn something!!

People in their 30's have probably the most to lose by buying houses at this time of the cycle as they have or are planning to have families and couples in their 20's are in a better position as both can keep working.

Finally if the EA's are still given out this spin to FTB'ers then I really feel sorry for those people who believe them.

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That's it. I'm 37, there's a trend, he must be right, I'm going house hunting tommorrow. Or is it that we're old enough to remember the last crash and people much younger than us think of that as ancient history? Or is it that the EA is a lying ****** desperate to shore up his business as it collapses around him.

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I am a mere spring chicked at 32..

I remember the last crash...

Remember house prices only go down after one trigger...

And that is they go up lots and lots very quickly first..

then they do.. everytime.

and when I say going down I mean as a multiple of pay..

its only recent economic policy that fights inflation.. last crash for example...

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Well i'm only 28 so that messes his theory up!

The fact that new apartments have gone from 169k to 139k in a few months says to me there is no good news for estate agents and greedy sellers for some time hopefully

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All you young ones out there, at 59, seen it more than once - so now I'm getting the tin hat out already, just waiting for the fallout. Boy, there is going to be a lot of S*** flying around.

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He said he has been in the EA game for 40 years

Then he should damn well know better because that EA will have seen three boom/crash cycles in that period.

The way the present crash is beginning to play out is so reminscent of the last one that it makes me yawn. When will people learn?

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Guest

30 here.

I bet he would sell his mother, sister and granny.

So there!

All I'm worried about is whether I should get down the shops and buy my cheap tat before we get inflation.

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36 here. So let's get this right... there will be no crash even though there appears to be a growing trend amongst our age group that we could be throwing money away. Ok that's all right then, no crash ;)

Actually I think the reason why our age group are indeed the ones to see what's coming is partly because we have indeed seen it all before. We're also at an age where we're probably now responsible for a family and the effects of a maaaaaaaaaaaasive mortgage on their lifestyle.

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31 here.and also remember bits osf the last crash.

never really got it full-on,my mum moved in 1986,to get to a good place near a train station for my school(originally from a dregs council estate)

....but I remember the headlines and some of mum's work colleagues were casualties in the last one....so I've been doing my homework.

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30 years ago people of your age had a 3 bed semi and two kids.

Weird really - we are completely out of touch now with our bodies. You mature in your mid-teens i.e. you can become parents. Every animal on this earth reproduces when it is mature enough to do so.

But we are now putting it off for more than 20 years in a lot of cases and having kids as we approach middle age. At a time when you should be getting rid of the b@stards, you are throwing buggies in and out of the car.

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Guest consa

You had to be 18 or over in 1988, so he knows we are 17 yrs from that, therefore anyone over 35 will remember it, she should ask how he gets the figure of 35yrs, maybe the EA's realise the over 35's are onto them and won't be fed b#llsh#t and this is the line he has drawn, he must have been discussing the problems at work :lol:

I'm glad there is a lot of under 35's here and I bet he thinks you are all wet behind the ears :rolleyes:

I'm 40 BTW

Edited by consa

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Guest STR2004

I'm 39.

In 1991 I found myself with 15% -ve equity on the first place I ever bought (I was very luck to get out when I did or it would have been 30%). It's left me somewhat jaded when it comes to the "property only ever goes up" argument. I'd never really thought of it like this before but I guess we are in an age group that is more likely to stop and think about the biggest financial commitment most of us will ever make as most of us remember the last 'correction'.

My parents (59 & 61) have made a packet from property and they are forever telling me to 'buy now' before it's too late. My younger brother (24) has just bought his first place (right at the peak) despite me telling him to wait and see. The generations above and below us seem, IMO, to be oblivious of the absurdity of UK house prices. Time will tell I guess.

STR

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30 years ago people of your age had a 3 bed semi and two kids.

Weird really - we are completely out of touch now with our bodies. You mature in your mid-teens i.e. you can become parents. Every animal on this earth reproduces when it is mature enough to do so.

But we are now putting it off for more than 20 years in a lot of cases and having kids as we approach middle age. At a time when you should be getting rid of the b@stards, you are throwing buggies in and out of the car.

Problem is, we are all living much longer. 150 years ago, us working types reached "middle age" at about 20; now 40 or so is considered normal. If the current rate of medical progress and healthy living living trends continue, middle age could be 50-60 within a few decades.

Still, that'll give parents that much longer to save for a deposit for their kids first property. <_<

Nomadd

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I have been warning my Mother-In-Law about selling her late Mother's flat in Dorset for some time now. Her husband thinks that she should keep it as SIPPS will have an effect in April.

I however advised she ring up to book some EA's in for a valuation. She asked one EA she spoke to about the current market and said that her Son-In-Law (me) thinks the market is going down. Before he answered the question he asked her how old I was but before she could reply he said I bet he is 35! Which is in fact right. He went on to say that there will be no price falls and talk of them is total rubbish. He said he has been in the EA game for 40 years and that it was a typical worry among my age group!!

I had to laugh :D

Me thinks he is simply making himself feel better. I don't think many EA's actually want to believe what is about to happen. If they bothered looking at the facts they might learn something!!

People in their 30's have probably the most to lose by buying houses at this time of the cycle as they have or are planning to have families and couples in their 20's are in a better position as both can keep working.

Finally if the EA's are still given out this spin to FTB'ers then I really feel sorry for those people who believe them.

I'm 31 and remember the last crash (even if I was too young to own property). I rememember my Dad had got a fixed rate mortgage before the massive IR rises, but other's didn't. I also remember neigbours trying to sell their homes and them being on the market for 3 years +. In 1993/4 We had to sell our home as my Mum had re-married, it took 2 years to sell it, the only reason it didn't take longer is because my mum was willing to take -50% offers.

My letting agent is an experienced guy, who has been in business for over 25+ years, he's started taking on more lettings and less sales as he just wants a steady income for the next few years (I must admit I thought he was going under a few weeks ago, but it seems that's not the case). He says Lettings are harder work but in this market, taking on too many sales is risky as vendors are putting their homes on the market for too higher price and you'll end up spending a fortune on advertising with no prospect of a sale.

I find it quiet shocking that an estate agent of 40 years would not prepare for a down turn. A man of his experience should be aware that it is better to get this situation over and done with ASAP.

Shamus, it wouldn't have taken a genius to figure out your age, especially if he is a simular age to your

Mum.

Edited by laughing_goat

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I'm 35 & remember the last crash but was still at home so didn't really appreciate what was happening. Though I do remember a guy crying at work with his head in his hands because of something called 'negative equity'. :(

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I'm 35 and I think they're going up!

That puts the cat amoungst the pigeons then.............. :D

Just because one person hasnt a clue, doesnt change life for the pigeons one bit matey.

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Guest STR2004

I'm 35 and I think they're going up!

That puts the cat amoungst the pigeons then.............. :D

I like you TTRTR. You're value for money entertainment. That doesn't mean I agree with you though :D

STR

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I'm 35 and I think they're going up!

That puts the cat amoungst the pigeons then.............. :D

Is that because you've not lived in this country long enough to have seen the last crash?

I'm 38 and I KNOW theyre going down.

Rewind the clock 7 years when house prices were on a par with wages (3.5 x average income bought average property) that would make a 35 year old 28 - perfect age to start looking at property. But prices started to rise sharply which made a lot of 28 year olds stop and think....then we saw prices just spiral out of control over the next several years.

Lets look at it from someone who is 24 years old today - 7 years ago they were just leaving school with absolutley no thoughts of buying property. Today, when they start looking, what they see has become 'the norm' ....not a huge spike in prices well above inflation or historical trends.

Got a call a few weeks back through a friend of a friend....would I do a bit of tiling for them - no problem says me and we agree a price and a day to start. I went round to this lovely big four bed deatched house on a brand new Redrow estate.....kid answers the door - hiya mate, is your mum in? I've come to tile the kitchen......he laughs - its our house!

I kid you not, these two couldnt have been more than 22 or 23!!!

I was dying to ask them what deposit? lengh of mortage? savings?......I felt really sorry for them because I know in a couple of years they're going to be back living with mum and dad minus everything they've ever earned and saved....and minus the house. or stuck with a millstone for the next 10 years worth half what they paid for it.

She had good tastes though....the tiles looked lovely in their new kitchen installed in a BRAND NEW house which had a very nice kitchen anyway!!

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I have been warning my Mother-In-Law about selling her late Mother's flat in Dorset for some time now. Her husband thinks that she should keep it as SIPPS will have an effect in April.

I however advised she ring up to book some EA's in for a valuation. She asked one EA she spoke to about the current market and said that her Son-In-Law (me) thinks the market is going down. Before he answered the question he asked her how old I was but before she could reply he said I bet he is 35! Which is in fact right. He went on to say that there will be no price falls and talk of them is total rubbish. He said he has been in the EA game for 40 years and that it was a typical worry among my age group!!

I had to laugh :D

Me thinks he is simply making himself feel better. I don't think many EA's actually want to believe what is about to happen. If they bothered looking at the facts they might learn something!!

People in their 30's have probably the most to lose by buying houses at this time of the cycle as they have or are planning to have families and couples in their 20's are in a better position as both can keep working.

Finally if the EA's are still given out this spin to FTB'ers then I really feel sorry for those people who believe them.

Why would anybody want an ea's opinion on the future of the housing market? This like asking a double glazing salesman if you need double glazing.

Edited by Young Goat

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  • 338 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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