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A late entrance..

First Post And A Few Questions..

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Thought it was about time that I registered and 'got involved' now that I've got the general gist of all the bloody acronyms in use!

I'm a FTB, started looking this time last year until I downloaded the last 25 years of BoE base rates and decided that I would be royally screwed in the inevitable event of rate increases. Only stumbled onto this site last month.

I have a couple of questions really just to air some concerns and to get some opinions:

1 - Why is the emphasis on a crash? A slow and steady decline is enough to meet most of your goals from what I can gather - just impatience here?

2 - I am sitting on a healthy deposit (20k) and could get on the ladder at current levels, I choose not to simply because I'm better off saving more and having my money work for me than to buy into a static market (regardless of whether or not a 'crash' is around the corner!).

Who here is worried about the performance of their investments? I have half in a maxi ISA fund which is currently doing very well, but have contracted some of the paranoia on here (or at least can see the argument for a bit of shit hits fan) - what do you all feel the affect on stock market linked investments will be in the event of further decline? Is it best to put it into the BS safehaven but risk losing out on far higher rates of return?

3 - The hype on here is a little OTT in my opinion. Don't get me wrong, I agree with the historical evidence all pointing in the right direction and envisage a decline in the housing market myself, however some of the sentiment here is just too optimistic in expecting a full 'crash' and you are waiting for a chance to say 'told you so' without carefully considering that history does not necessarily repeat itself in the most exacting fashion!

Anyways, my background: I'm 26, recent graduate with decent job in Birmingham, a deposit at the ready but nothing is meeting my full 'wishlist' - I'm about £20k short if I were to borrow to within my max and £35k short if I were to borrow as I am fully comfortable. At my FTB end of the market (up to £115k) this represents a significant drop of which I am not entirely convinced will happen, however as long as prices don't rise in the next couple of years then I'm happy.

BTW, will have paid off student loan by Jan and have no overdraft/loans/HP - I hate debt and the modern culture of debt amongst young people and would sadistically like to see these idiots burned :D

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A late entrance

Read....

http://news.bbc.co.uk/1/hi/uk/4328366.stm

The article says it all it's social engineering Labour style... today's middle classes (lawyers, doctors, accountants etc. earning between 25k and 60k) can only

afford to buy properties in 'lower-class' areas where 'tesco/asda workers' work and bought their properties in the 90s.

Personally, I would rather rent if I had to in a nice area than buy the cheapest property in a horrible part of the country.

Are you going to pay £120k to live next to someone who paid £60k to buy just 4 years ago? As in the case of Birmingham. I'm certainly not. Bizarrely they are on

probably on less than half the wages that you are on right now. However, they probably have the same disposable income as you due to their tiny mortgage

payments if the haven't MEW. Most graduates have worked hard to progress up the career ladder and earn more - I don't want to only be able to afford to

live next to chavs who happened to buy 4+ years ago.

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A late entrance

Read....

http://news.bbc.co.uk/1/hi/uk/4328366.stm

Are you going to pay £120k to live next to someone who paid £60k to buy just 4 years ago?

As in the case of Birmingham. I'm certainly not. Most graduates have worked hard to progress up the career ladder and earn more - I don't want to only be able to afford to

live next to chavs who happened to buy 4+ years ago.

A distinct air of snobbery there!

I can see where you are coming from, but am not about to begrudge those fortunate enough to have bought themselves a house; that begrudgin of other peoples good fortune is the same kind exploited by the BNP when it knocks on your door.

I worked in a factory for minimum wage for two years before going to uni and refuse to believe that I 'deserve' better than my former colleagues simply because they were privvy to better timing within the property market - they worked just as hard as I do now, and did at university.

That said, ex-council properties are on my 'definitely not' list :lol:

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A late entrance

Read....

http://news.bbc.co.uk/1/hi/uk/4328366.stm

Personally, I would rather rent if I had to in a nice area than buy the cheapest property in a horrible part of the country.

Are you going to pay £120k to live next to someone who paid £60k to buy just 4 years ago? As in the case of Birmingham. I'm certainly not. Bizarrely they are on

probably on less than half the wages that you are on right now. However, they probably have the same disposable income as you due to their tiny mortgage

payments if the haven't MEW. Most graduates have worked hard to progress up the career ladder and earn more - I don't want to only be able to afford to

live next to chavs who happened to buy 4+ years ago.

What would be worse would be to shell out the cash, buy in an area you wouldn't have chosen, and then get stuck in negative equity until you can move on.

I think the original poster summed it up well, first time buyers might as well "sit it out" and see what happens, there's no hurry.

In any event, some of the so-called affluent/desirable/designer new build shoebox estates and flats people will skip over when prices fall might well be surprised to see the "chavs" moving in as those areas then start to fall within their price range, so I guess it works both ways.

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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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