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Bear Necessities

My Peers Are Purchasing!

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Not sure if there is something in the water supply, but all of a sudden my peer group seem to be jumping into the housing market.

We have all recently reached our 30s, so perhaps that has something to do with it? I don't know.

Can it really just be the "settle down and have a family thing"?

Because of the four of us (the three that have jumped in, and me), three of us are married but I'm the only one with a kid and am currently renting, despite people expressing horror/sadness for me as "everyone knows" you can only bring up a child in a house you own* (*rent from the bank).

Or maybe they do all think you have to buy a house at any cost before you can dream of having kids?

One of them has bought a place in Lincolnshire (by herself, stretching to the point where she had to sit of patio furniture for months.)

One of them (in a couple and admittedly earning more than me) has brought a "doer upper" in Oxford (so at least he can "add value"

One of them (in a couple, again with two decent jobs, but formally a total bear!) has purchased a 4 bedroom house for the two of them, OFF PLAN!!!

I didn't realise that off plan was even a "thing" any more, surely that's only used in a rising market?!!

I'm not sure if it's just that we've all hit 30,

or if the world is going mad,

or if this is a case of "when the last bear turns bull" and I should be happy because it signifies a crash,

or if I'm the one who is mad for refusing to play this stupid game.

I was ok (if annoyed) up till now, but when the people that surround you are buying (and off plan at that!) then it starts to feel a bit weird and lonely, I don't know what is going on any more!

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No need to be lonely; you've got many HPC non-buyers waiting for housing value on the forum to support you.

2013 HPC secret meeting in NW regional forum, on passing the 'refuse to buy' duration test, until the real HPC (2015-ish), when house prices are falling £25K ever few months.

NSFW - not safe for work

First, the median price paid by those using “cash” financing has reached an all-time peak. Not a revisit of an old peak but a brand new one. Of course this is happening while the typical household has seen stagnant wage growth. Most understand this yet manias lure people in at the most inopportune times.

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Thanks for being the voice of reason.

I think it is because they are "real life" friends, that it felt so strange that suddenly people were buying left right and centre.

I'll keep on waiting. Until 2015 when the government of the day think of a different scam to keep prices high.

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Not sure if there is something in the water supply, but all of a sudden my peer group seem to be jumping into the housing market.

We have all recently reached our 30s, so perhaps that has something to do with it? I don't know.

Can it really just be the "settle down and have a family thing"?

Because of the four of us (the three that have jumped in, and me), three of us are married but I'm the only one with a kid and am currently renting, despite people expressing horror/sadness for me as "everyone knows" you can only bring up a child in a house you own* (*rent from the bank).

Or maybe they do all think you have to buy a house at any cost before you can dream of having kids?

One of them has bought a place in Lincolnshire (by herself, stretching to the point where she had to sit of patio furniture for months.)

One of them (in a couple and admittedly earning more than me) has brought a "doer upper" in Oxford (so at least he can "add value"

One of them (in a couple, again with two decent jobs, but formally a total bear!) has purchased a 4 bedroom house for the two of them, OFF PLAN!!!

I didn't realise that off plan was even a "thing" any more, surely that's only used in a rising market?!!

I'm not sure if it's just that we've all hit 30,

or if the world is going mad,

or if this is a case of "when the last bear turns bull" and I should be happy because it signifies a crash,

or if I'm the one who is mad for refusing to play this stupid game.

I was ok (if annoyed) up till now, but when the people that surround you are buying (and off plan at that!) then it starts to feel a bit weird and lonely, I don't know what is going on any more!

I must be older than you...all my peers wish they could find some mug to buy their houses. They all seem to be up to their eye-balls in debt, stuck in rapidly decaying houses or landed with holiday homes they can't give away. One mate of mine can barely afford to feed his children.

Let us know how your friends are faring in 5 years and thank them on my friends behalf for keeping their pyramid scheme going, they might well get out.

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My peers are a mixed bunch, the most miserable are the ones who bought but seem to be papering over the cracks with decent earnings. Plenty of pressure on them though and it isn't going away anytime soon. The renters have similar concerns but on a lower magnitude as those that have been under pressure have benefitted from knowing they could move to a cheaper place much more easily, even if they have ultimately not had to do so.

At least one accidental LL in there too, so plenty of money going up in smoke.

Some are looking to buy, semi-seriously, but general disbelief at pricing prevails. Most seem resigned to housing poverty of one form or another, even if renting represents the best deal it still ain't cheap.

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This happens when people are the same age - particularly if you are coupled up.

30 is a key milestone. Usually the other half is getting broody and wondering if you are ever going to get around to popping the question and/or buying a house so she can nest. It's also vaguely infectious too - only one of you need fall for it, and then the rest follow.

I had it for years from my missus. Why are we so poor because x/y/z has a house/big car/something else and we don't? If they watch TV - it's even worse as they will be deluged by wall to wall property porn and aspirational living adverts. I'd say my missus was one of the better ones as she did at least slowly see the utter madness of it all and would often only waver a few days a month.

It's all a racket and takes a strong will to resist it. It helps, although not wished on anyone, if you encounter a little misfortune together and see how vulnerable you really are to life's hand grenades when shackled to a massive debt. It also helps if you broaden your group of friends to encompass people from a variety of backgrounds, aspirations and ages.

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Oh don't worry there is no fear of me following them. I'm not mentally ill. Just despondent that so many of my friends are jumping head first into a hole.

Plus I'm already married and have a kid and renting isn't the barrier to a family life that some people think it is.

(Also my wife is on the same page as me about this) and she doesn't watch TV (Breaking Bad on Netflix doesn't count, as his house is paid for with drug money)

(as a side note how could there possibility be 1.2 BILLION personal insolvencies in NI? That's a 6th of the population of earth. Unless I missed the hyperbole tag)

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Why is this depressing? This sucker is not going to crash until absolutely everyone (maybe except for one or two HPCers) is in with both feet so you should be celebrating and encouraging everyone to be taking out fully spammed out HTB mortgages!

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Why is this depressing? This sucker is not going to crash until absolutely everyone (maybe except for one or two HPCers) is in with both feet so you should be celebrating and encouraging everyone to be taking out fully spammed out HTB mortgages!

This ^

Point to be made later in my own thread

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