Jump to content
House Price Crash Forum
The Colour

Do You Think We Want The Same Things?

Recommended Posts

I dunno, but having spent a few weeks reading this forum, I reckon that the FTBs and STRs on this site, while both having a VI in a HPC, have so for different reasons, and it annoys me slightly, like an itch I can't reach.

As an FTB myself I am interested in a HPC because I can't afford to buy a nice home. But many STRs can buy, but prefer not too. Believe me if I could buy the perfect home for me I would, and it wouldn't really matter to me if I paid 20-25% more than it was worth for it.

So howsabout it ? Any more FTBs wanna bitch about the STRs?

Share this post


Link to post
Share on other sites

Believe me if I could buy the perfect home for me I would, and it wouldn't really matter to me if I paid 20-25% more than it was worth for it.

I'm an STR and if I could buy the perfect home for me I would, however, if the houses I can afford don't even fit into my required criteria, why the **** should I buy one of them. When the 'perfect' houses that are now out of my price bracket, come down to my price bracket then I'll buy.

Oh, and AWOOGA!

Share this post


Link to post
Share on other sites

I dunno, but having spent a few weeks reading this forum, I reckon that the FTBs and STRs on this site, while both having a VI in a HPC, have so for different reasons, and it annoys me slightly, like an itch I can't reach.

As an FTB myself I am interested in a HPC because I can't afford to buy a nice home. But many STRs can buy, but prefer not too. Believe me if I could buy the perfect home for me I would, and it wouldn't really matter to me if I paid 20-25% more than it was worth for it.

So howsabout it ? Any more FTBs wanna bitch about the STRs?

No.

As a wannabe FTB I don't have a choice regarding my position and I don't have a problem with people who own their own home and make the decision (take the risk) to sell to rent.

Anyway your comment "if I could buy the perfect home for me I would" suggest you don't understand the issues here anyway, despite having "spent a few weeks reading this forum".

Share this post


Link to post
Share on other sites

I don't 100% agree, it is all down to the individual.

I am an FTB and (fortunately) could easily buy now if I wanted to.

However, I will not buy unless I feel I am able to get value.

If I bought a hutch somewhere for 180 - 200K, knowing that the same place was sold for:

150 in 2003

130 in 2002

87 in 1999

(actual figures)

and it then went down to 130 in 2 years, meaning I had effectively just lost up to £70K, I would be a fool.

I sort of see what you are saying, but only with respect to the "perfect house" thing. However, it is a hell of a lot of money to lose.

Try saving it, work out how long you have to work for and how much time you have to give up to accumulate that wealth.

All you would probably be doing, is paying for someone elses exhuberant lifestyle during the boom years - the holidays, cars and plasmas they did not really have the earning power to have.

No way.

Edited by BubbleTurbo

Share this post


Link to post
Share on other sites

As a wannabe FTB I don't have a choice regarding my position and I don't have a problem with people who own their own home and make the decision (take the risk) to sell to rent.

Oh - actually I didn't realise that STRs were people with their own home, who then sold and are renting now. I thought they were second home buyers.

Anyway your comment "if I could buy the perfect home for me I would" suggest you don't understand the issues here anyway, despite having "spent a few weeks reading this forum".

Well, I still think my point is valid, but as you can see from my understanding of STR I am having difficulty picking up the HPC lingo. Still, I'm learning.

I would buy because I would just like somewhere nice to live and not have to move every 12 months.

Share this post


Link to post
Share on other sites

I don't 100% agree, it is all down to the individual.

I am an FTB and (fortunately) could easily buy now if I wanted to.

However, I will not buy unless I feel I am able to get value.

If I bought a hutch somewhere for 180 - 200K, knowing that the same place was sold for:

150 in 2003

130 in 2002

87 in 1999

(actual figures)

and it then went down to 130 in 2 years, meaning I had effectively just lost up to £70K, I would be a fool.

I sort of see what you are saying, but only with respect to the "perfect house" thing. However, it is a hell of a lot of money to lose.

Try saving it, work out how long you have to work for and how much time you have to give up to accumulate that wealth.

All you would probably be doing, is paying for someone elses exhuberant lifestyle during the boom years - the holidays, cars and plasmas they did not really have the earning power to have.

No way.

Alternatively, don't buy and watch it increase in value by 5% a year.

Share this post


Link to post
Share on other sites

Alternatively, don't buy and watch it increase in value by 5% a year.

Or, when you come off the drugs she has been on, watch the economy tank, interest rates start heading up and houses fall by 5 - 20% per year.

Share this post


Link to post
Share on other sites

Alternatively, don't buy and watch it increase in value by 5% a year.

Forever? <_<

Stop thumbing yer nose at us kindergarten economist ;)

Share this post


Link to post
Share on other sites

AWOOGA Retracted :P Welcome to the forum !

The difference between an FTB and an STR is that an STR has decided by choice to "play" the property market.

An STR is effectively selling short - they are selling, hoping to buy back later cheaper.

They may or may not get their fingers burnt. - (I think the expression "to be caught short" comes form there)

They may be able to buy either 2 properties, or one bigger one or the one they sold for les money.

They are not helpng the FTB's at all who are in a ciompletely different position. If they try & gusess the market & get it wrog - they probably will never get another chance.

Share this post


Link to post
Share on other sites

They are not helpng the FTB's at all who are in a ciompletely different position. If they try & gusess the market & get it wrog - they probably will never get another chance.

Hi LL, why will they "probably never get another chance"? That's a bit of a dramatic statement.

(That's a question).

Share this post


Link to post
Share on other sites

Thanks PF.

Also I have been wondering for a couple of weeks now.... but what the heck is a MEW and is it good or bad??

MEW is Mortgage Equity withdrawal (I think)

But what it means is that people take on a larger mortgage against their increased house value to fund other things - like house improvements, BTL's (Buy To Lets) and ...plasma screens, holidays etc.

Share this post


Link to post
Share on other sites

i have a young family, we just need more room. i personally don't give a stuff about the price/value/negative equity etc, it's all about affordability for a lot of us. i have got the kind of deposit many ftbs can only dream of but prices are just way too high still!

Share this post


Link to post
Share on other sites

Hi LL, why will they "probably never get another chance"? That's a bit of a dramatic statement.

(That's a question).

Just that if they feel they can't buy at the bottom of the market, historically houses rise more quickly than wages, so if they can't cover a mortgage at the bottom of the market, are they ever going to be able to cover it?

Not everyone has to own a home - some people never will.

Share this post


Link to post
Share on other sites

They are not helpng the FTB's at all who are in a ciompletely different position. If they try & gusess the market & get it wrog - they probably will never get another chance.

You are simply a troll or are you just simple?

Most FTB's have no chance now as they are unable to afford.

First time buyers are at all time lows (just like 1989 and look what happened after that :lol: ), BTL muppets are losing money each month as the costs are greater than the interest on the mortgage, the economy is tanking and even Mervyn himself has said things are going to get harder.

We have had the biggest run on property the world has ever seen and you think that prices are still gonna continue to go up?? Where is the money going to come from??

Get real.

Share this post


Link to post
Share on other sites

Just that if they feel they can't buy at the bottom of the market, historically houses rise more quickly than wages, so if they can't cover a mortgage at the bottom of the market, are they ever going to be able to cover it?

Not everyone has to own a home - some people never will.

LL, I really don't want to be rude, but you make it hard because that is a laughable statement.

You are aware of course that house prices have fallen for prolonged periods before?

You do realise that the logical extension of your above statement is that one day no-body will be able to afford a mortgage.

Share this post


Link to post
Share on other sites

They are not helpng the FTB's at all who are in a ciompletely different position. If they try & gusess the market & get it wrog - they probably will never get another chance.

Thanks LL, but I am still hopefull that my dream home will come onto my affordability radar one day...

Share this post


Link to post
Share on other sites

You are simply a troll or are you just simple?

Most FTB's have no chance now as they are unable to afford.

First time buyers are at all time lows (just like 1989 and look what happened after that :lol: ), BTL muppets are losing money each month as the costs are greater than the interest on the mortgage, the economy is tanking and even Mervyn himself has said things are going to get harder.

We have had the biggest run on property the world has ever seen and you think that prices are still gonna continue to go up?? Where is the money going to come from??

Get real.

If you look at the main graph on this site, you can see quite clearly that the peaks and troughs make higher highs and higher lows - the trend is up.

All we are discussing here is where the bottom of the current low is. Nothing more complex.

The bears say there is further to fall, the bulls say we are at the bottom.

However, the older bulls are saying that they are happy to sit it out if there are any further falls.

LL, I really don't want to be rude, but you make it hard because that is a laughable statement.

You are aware of course that house prices have fallen for prolonged periods before?

You do realise that the logical extension of your above statement is that one day no-body will be able to afford a mortgage.

You are not being rude. I's just a different view.

i'm pasting my reply to someone else :

If you look at the main graph on this site, you can see quite clearly that the peaks and troughs make higher highs and higher lows - the trend is up.

All we are discussing here is where the bottom of the current low is. Nothing more complex.

The bears say there is further to fall, the bulls say we are at the bottom.

However, the older bulls are saying that they are happy to sit it out if there are any further falls.

Share this post


Link to post
Share on other sites

I am an STR and I dont feel I will "never get a second chance"

Like many FTBs I could buy now, but I just dont want that much debt.

I did not sell my London flat for a gigantic profit

I did not sell my London flat due to financial stress

I just sold it because I reckoned that it was overpriced, I regretted buying it (I bought relatively recently, not way back). My flat was too small and poky and I wanted to live in a larger property for a change.

Now I live in a house. And I pay less mortgage than for my poky flat. My savings are tucked away.

London Landlady - why might I miss out??? even if property rises at 5% a year for ever and ever amen. I still havent missed out because such rises would condemn me to spend the rest of my days in my poky flat because I would it would be even more expensive to upgrade to a more expensive property also rising at 5% a year.

And if it does go on rising like that then I would rather be a renter with financial and material mobility than stuck in the housing market with ever increasing paper profit that is totally useless to me unless I want to emigrate.

The more time goes on the more I am convinced that there will be a long period of slowly falling house prices punctuated by the occassional accelaration in falls in certain areas.

Share this post


Link to post
Share on other sites

If you look at the main graph on this site, you can see quite clearly that the peaks and troughs make higher highs and higher lows - the trend is up.

All we are discussing here is where the bottom of the current low is. Nothing more complex.

The bears say there is further to fall, the bulls say we are at the bottom.

However, the older bulls are saying that they are happy to sit it out if there are any further falls.

You are not being rude. I's just a different view.

i'm pasting my reply to someone else :

If you look at the main graph on this site, you can see quite clearly that the peaks and troughs make higher highs and higher lows - the trend is up.

All we are discussing here is where the bottom of the current low is. Nothing more complex.

The bears say there is further to fall, the bulls say we are at the bottom.

However, the older bulls are saying that they are happy to sit it out if there are any further falls.

It is more complex, as most bulls denied that there have been any falls thus far! This does seem to be shaping up rather like the last time... a continuous procession of "false bottoms" and falls only acknowledged in retrospect by VIs busily denying them at the time they were occurring.

Congratulations on being the first "false bottom" of this HPC London Landlady! The first of many. I hope your bottom becomes real soon though.

:):)

Share this post


Link to post
Share on other sites

I am an STR and I dont feel I will "never get a second chance"

Like many FTBs I could buy now, but I just dont want that much debt.

I did not sell my London flat for a gigantic profit

I did not sell my London flat due to financial stress

I just sold it because I reckoned that it was overpriced, I regretted buying it (I bought relatively recently, not way back). My flat was too small and poky and I wanted to live in a larger property for a change.

Now I live in a house. And I pay less mortgage than for my poky flat. My savings are tucked away.

London Landlady - why might I miss out??? even if property rises at 5% a year for ever and ever amen. I still havent missed out because such rises would condemn me to spend the rest of my days in my poky flat because I would it would be even more expensive to upgrade to a more expensive property also rising at 5% a year.

And if it does go on rising like that then I would rather be a renter with financial and material mobility than stuck in the housing market with ever increasing paper profit that is totally useless to me unless I want to emigrate.

The more time goes on the more I am convinced that there will be a long period of slowly falling house prices punctuated by the occassional accelaration in falls in certain areas.

I think that I said that the FTB's would miss out - not the STR's - they (STR's) either have a massive profit, or a smallish profit - but they do have enough for a deposit.

Share this post


Link to post
Share on other sites

I think that I said that the FTB's would miss out - not the STR's - they (STR's) either have a massive profit, or a smallish profit - but they do have enough for a deposit.

You have missed the point of fancypants post LL. If prices rise by 5% year on year for ever and ever amen.

If wages don't rise by as much like you say.

Then the gaps will get bigger and bigger. No body will be able to afford to move let alone buy first time.

That is the logical problem with your position which I mentioned before and that you chose to ignore.

Edited by bandylegs

Share this post


Link to post
Share on other sites
Guest Charlie The Tramp

It is more complex, as most bulls denied that there have been any falls thus far! This does seem to be shaping up rather like the last time... a continuous procession of "false bottoms" and falls only acknowledged in retrospect by VIs busily denying them at the time they were occurring.

House prices, like in any market, never move in a straight line. They didn't during the housing crash of the early 1990s. According to ABN Amro figures, house prices dropped sharply in 1989, rebounded at the start of 1990, before resuming their decline. There were three false rallies, followed by more falls, before it stabilized in 1993.

There is no reason the market shouldn't be following that pattern right now.

King is entitled to claim credit for steering the British housing market toward a soft landing. Yet it is too soon to say the job is finished. Markets have a nasty way of snapping back at anyone who claims victory over them -- and U.K. property isn't immune to that.

Share this post


Link to post
Share on other sites

Join the conversation

You can post now and register later. If you have an account, sign in now to post with your account.

Guest
Reply to this topic...

×   Pasted as rich text.   Paste as plain text instead

  Only 75 emoji are allowed.

×   Your link has been automatically embedded.   Display as a link instead

×   Your previous content has been restored.   Clear editor

×   You cannot paste images directly. Upload or insert images from URL.

Loading...

  • Recently Browsing   0 members

    No registered users viewing this page.

  • 302 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%



×
×
  • Create New...

Important Information

We have placed cookies on your device to help make this website better. You can adjust your cookie settings, otherwise we'll assume you're okay to continue.