I'm Finally Buying After String In April 2007. Thanks Hpc

[equitystasher]

Hello HPC,

After 7 years of waiting and watching I am jumping back into the madness.

I sold my one bedroom flat in April 2007 and decided to rent after coming across this site and spending hours reading the various posts and educating myself from the writings and debates of some very astute posters. Weighing up the considerable advice I decided to sell and stay out of the market against the advice of my family and friends whoi thought I was mad, as the market was only going one way at the time. Or so they thought.

All said and done it is personal circumstances that have led me to buy aswell as economics.I wanted to buy a couple of years ago but it did not make any sense at the time.

I am now getting married and wanting a home and to be honest, I know the housing market is a bubble, but I know it could take many more years for it to pop and I am not prepared to wait in rented accomodation any longer and watch my capital be eroded by the policies of the central banks aall my index linked bonds have come or coming to a end.

Thanks and I wish you all the best for your futures

[macbeth79]

Which part of the country are you buying in.

[okaycuckoo]

aall my index linked bonds have come or coming to a end.

Thanks and I wish you all the best for your futures

Think of the institutional investors who are suffering the same problem with maturing bonds - the problem has been looming since 2008.

The Central Bank won't listen to you - but it will listen to them.

All the best to you. I'm sure you did well with those bonds, and hope you're not getting sucked into London/SE.

[65243]

Did your strategy pay off?

[TheCountOfNowhere]

Are you making it up ?

has your account been hacked ?

Why would you buy at the 2nd peak of a destructive housing bubble ?

Either you are mad or we are...which is it ?

[GinAndPlatonic]

Are you making it up ?

has your account been hacked ?

Why would you buy at the 2nd peak of a destructive housing bubble ?

Either you are mad or we are...which is it ?

I go for hacked..when these come along, the wording sounds so familiar. Almost from a template.

[VeryMeanReversion]

I am now getting married and wanting a home and to be honest, I know the housing market is a bubble, but I know it could take many more years for it to pop and I am not prepared to wait in rented accomodation any longer and watch my capital be eroded by the policies of the central banks aall my index linked bonds have come or coming to a end.

It was the end of my index-linkers that triggered me to buy back in 2010. Watching savings disappear is depressing. I found a fixer-upper to buy where mortgage was completely offset by savings so had no net debt.

Now that I am independent of a landlord, the next aim is to be independent of the central banks i.e no debt, minimal savings, just own real stuff.

good luck.

[crashmonitor]

Which part of the country are you buying in.

His timing was impeccable last time. Would make a difference where he is buying now, North of about Leicester and -10% off nominal peak and seven years of inflation wouldn't be such a bad call.

[Brummers]

I love the assertion that there are some dark demonic estate agents, or worse maybe GCHQ, hacking in to accounts to post up news about buying a house. Or, perhaps you accidentally posted in here instead of the 9/11 conspiracy forum?

[disenfranchised]

His timing was impeccable last time. Would make a difference where he is buying now, North of about Leicester and -10% off nominal peak and seven years of inflation wouldn't be such a bad call.

Agree.

Decision also depends upon lifestyle priorities .

[work2live]

Im going to get blasted now but if it makes you all feel better go ahead.............

I went on this website daily for years I got obsessed with it like some of you are. I even got sucked in to enjoying the doom and gloom of people losing jobs, businesses closing down, people in record debt etc, just like many of you you do. This is all on the understanding that it will drive houses to rock bottom prices so that buyers would be begging for us totake them of our hands.

But what a nice place would it be...... Would be in a huge depression but with with low house prices that would be fun !

Yes house prices are far too high I completely agree but ALL governments will do everything to maintain this.

So I bought in 2008 silly me !! Do I regret it ? No not for one minute im down to 17 years on mortgage now with small overpayments, and I plan to bring this down even further.

Savings are earning absolutely f**k all, so im very glad I bought. Was very unfortunate due to my age I could have bought pre boom. But thats life Ive got on with it, yes its crap I could have bought my house at half price in 2002 but I was too young.

You lot keep carry on living at home or renting, earning virtually 0% on your hard earned savings that you will be means tested against if you lose your job etc...........

Just hope a massive depression comes soon for you all

[Venger]

His timing was impeccable last time. Would make a difference where he is buying now, North of about Leicester and -10% off nominal peak and seven years of inflation wouldn't be such a bad call.

Wage inflation is it? The brilliant inflation?

vs - CPI / RPI ?

Just first source I googled, from late 2013.

Millions of people on low pay, the ‘squeezed middle’ or who are out of work are under ‘an income siege’ due to the rise in the retail price index (RPI) - the broader range for measuring inflation the country’s largest union, said today (Tuesday 17 September).

Lucky there aren't many in the cheap fair housing value North, where some think prices bottomed out, and no little chance of a crash.

[Bruce Banner]

You lot keep carry on living at home or renting, earning virtually 0% on your hard earned savings that you will be means tested against if you lose your job etc...........

Just hope a massive depression comes soon for you all

[Venger]

You lot keep carry on living at home or renting, earning virtually 0% on your hard earned savings that you will be means tested against if you lose your job etc...........

Will do.

We make our own decisions.

[cuddlybear]

I love the assertion that there are some dark demonic estate agents, or worse maybe GCHQ, hacking in to accounts to post up news about buying a house. Or, perhaps you accidentally posted in here instead of the 9/11 conspiracy forum?

Self-reinforcing as well, really, isn't it?

The original poster is unlikely to bother replying (and thus enlightening us further about his/her situation, leading on to further discussion, sort of the point of a discussion forum I would have thought) after seeing all these replies accusing him/her of being a troll

One day I imagine this will be me putting an "I've just bought a house" post up, being told I'm a troll and then never visiting the site again

[Venger]

Self-reinforcing as well, really, isn't it?

The original poster is unlikely to bother replying (and thus enlightening us further about his/her situation, leading on to further discussion, sort of the point of a discussion forum I would have thought) after seeing all these replies accusing him/her of being a troll

One day I imagine this will be me putting an "I've just bought a house" post up, being told I'm a troll and then never visiting the site again

Way for you both to over-react to a joke about it being a hacked post.

Buyer, sell, rent, emigrate.. whatever. You make your own decisions.

Why be so ultra-sensitive? "Oh they had a joke... I'll never return."

Notice that buying/owning hasn't stopped previous hpc-er 'work2live' from coming back to the site after a while, after buying, with a bit of a dig against us wasting money in bank accounts and other glory of ownership. Why not have a go at him too?

[65243]

No reply from the OP - I would say definitely a hacked account. And I notice a further troll has chipped in now using very similar language to the first one. Well done to the mods for moving this off the main forum, the last thing we want is this sort of "confession" cluttering up the front page which is where most people look.

[GloomMonger]

Im going to get blasted now but if it makes you all feel better go ahead.............

I went on this website daily for years I got obsessed with it like some of you are. I even got sucked in to enjoying the doom and gloom of people losing jobs, businesses closing down, people in record debt etc, just like many of you you do. This is all on the understanding that it will drive houses to rock bottom prices so that buyers would be begging for us totake them of our hands.

But what a nice place would it be...... Would be in a huge depression but with with low house prices that would be fun !

Yes house prices are far too high I completely agree but ALL governments will do everything to maintain this.

So I bought in 2008 silly me !! Do I regret it ? No not for one minute im down to 17 years on mortgage now with small overpayments, and I plan to bring this down even further.

Savings are earning absolutely f**k all, so im very glad I bought. Was very unfortunate due to my age I could have bought pre boom. But thats life Ive got on with it, yes its crap I could have bought my house at half price in 2002 but I was too young.

You lot keep carry on living at home or renting, earning virtually 0% on your hard earned savings that you will be means tested against if you lose your job etc...........

Just hope a massive depression comes soon for you all

Sadly, I think you're right and I'm not a troll. Some posters here don't like to open their eyes to what has happened to house prices in the last 7 years. We all hoped for a correction, every year it seemed like it should come, but it didn't. 2014 is the price crash year, or maybe 2015, meanwhile all our ignorant peers have bought and are paying down their mortgages whilst we continue to fund our landlords lifestyle whom we all despise. I think we are a collection of tightarses craving a bargain, but at what cost. The only solution for me is to emigrate, life is too short to wait for something we have no control over.

[Venger]

Sadly, I think you're right and I'm not a troll. Some posters here don't like to open their eyes to what has happened to house prices in the last 7 years. We all hoped for a correction, every year it seemed like it should come, but it didn't. 2014 is the price crash year, or maybe 2015, meanwhile all our ignorant peers have bought and are paying down their mortgages whilst we continue to fund our landlords lifestyle whom we all despise. I think we are a collection of tightarses craving a bargain, but at what cost. The only solution for me is to emigrate, life is too short to wait for something we have no control over.

I'm not planning on losing my job/income. I've always been self-reliant, and I wouldn't want to be tied to a house in some areas if I were to lose my job as well.

Unlike others who claim there hasn't been reflation in house prices, and who constantly give excuses for big debtors... I'm focussed on my own situation and am not a tight-**** with money. Glad to have some years worth of savings, and certainly better positioned than the guy who lost 7 years worth of savings gambling on stocks the other day.... think we're going to see more of that with manic investing... 0% on savings is better than losing 50%.

House prices are massively over-valued in my area, and I think they're prone to big falls. 2014-15 may be a deciding time. 7 years after initial credit/financial shock, followed by policies of relation, manic buying at prices, malstructured economy that is still deleverging. Certainly my friend in investment banking is concerned about her job now... I think she's been given notice it's at risk.

The benefit of SMI is no bonus to me if my income was cut. I'm self-reliant anyway, and got freedom to move to areas of new opportunity as not tied to a house in a certain location. If I wanted a Lancashire 2 bed house... well I'm not living back in industrial Darwen Lancashire again. Glad we moved out. Enjoy the SMI there... great fun. Either value, or wait and rent, for me, and be content. There's just no other option for me at these asking prices. Just can't stand the sob stories for buyers.

Hi me and my girlfriend have seen a semi detached in lancashire 2 bed decent size decent drive and gardens.

We are thinking about offering 125k then 127k then 130k max do you think we would get it for this (please can i not have the comments of offer 80k etc thanks )

[cuddlybear]

Way for you both to over-react to a joke about it being a hacked post.

Buyer, sell, rent, emigrate.. whatever. You make your own decisions.

Why be so ultra-sensitive? "Oh they had a joke... I'll never return."

Notice that buying/owning hasn't stopped previous hpc-er 'work2live' from coming back to the site after a while, after buying, with a bit of a dig against us wasting money in bank accounts and other glory of ownership. Why not have a go at him too?

Depends if you interpret as a joke I suppose!

There are other threads which have gone a similar way

[GloomMonger]

I'm not planning on losing my job/income. I've always been self-reliant, and I wouldn't want to be tied to a house in some areas if I were to lose my job as well.

Unlike others who claim there hasn't been reflation in house prices, and who constantly give excuses for big debtors... I'm focussed on my own situation and am not a tight-**** with money. Glad to have some years worth of savings, and certainly better positioned than the guy who lost 7 years worth of savings gambling on stocks the other day.... think we're going to see more of that with manic investing... 0% on savings is better than losing 50%.

House prices are massively over-valued in my area, and I think they're prone to big falls. 2014-15 may be a deciding time. 7 years after initial credit/financial shock, followed by policies of relation, manic buying at prices, malstructured economy that is still deleverging. Certainly my friend in investment banking is concerned about her job now... I think she's been given notice it's at risk.

The benefit of SMI is no bonus to me if my income was cut. I'm self-reliant anyway, and got freedom to move to areas of new opportunity as not tied to a house in a certain location. If I wanted a Lancashire 2 bed house... well I'm not living back in industrial Darwen Lancashire again. Glad we moved out. Enjoy the SMI there... great fun. Either value, or wait and rent, for me, and be content. There's just no other option for me at these asking prices. Just can't stand the sob stories for buyers.

I agree and am in a similar situation. I just don't understand the vehement castigation of posters who tell it as it currently is. You obviously want to buy a decent house in a good area at a realistic price or you wouldn't be on here. But let's face facts, prices haven't crashed, quite the opposite, and regardless of the dire economy which we've known about for years, they will continue to rise until... when? Of course, there will be a correction, but it could be in 15 years when you could have been living mortgage free and not give a schit.

[Venger]

I agree and am in a similar situation. I just don't understand the vehement castigation of posters who tell it as it currently is. You obviously want to buy a decent house in a good area at a realistic price or you wouldn't be on here. But let's face facts, prices haven't crashed, quite the opposite, and regardless of the dire economy which we've known about for years, they will continue to rise until... when? Of course, there will be a correction, but it could be in 15 years when you could have been living mortgage free and not give a schit.

That just about sums it up.

Witnessed horrible and rapid reflation house price inflation from 2009.

Until when? Yes... few non-HPC types seem concerned about any imminent price falls for housing, including Carney himself, and his recovery in house prices.

There's just too many risks for me (buying). And whilst market has withstood almost everything that you'd think would bring about a HPC, another 15 years seems unlikely, without something giving soon enough, but it is possible.

If so I'm responsible for putting myself in a worse position (maybe.. as could still come out better positioned renting), just as buyers paying high prices are responsible for their own decisions and their own debt. Keeping integrity of position is also worth a lot to me, despite the heavy market interference from policy-makers.

Trying to focus on the positives of renting.

[John51]

There are currently houses being bought as homes, contracts exchanged, people moving in etc. iow, it is not a zero trade market, there is some, albeit low, activity. Not beyond the realms of possibility that one of those buyers is a member here.

We all have different circumstances. Assuming I was younger, If I had an above average income and enough cash for a large deposit and wanting to start a family, then my desired family home being overpriced would be no never mind as long as I could afford it. If I'm there for 40 years plus, any valuation is nominal to me and only really applies to whoever gets the place after I'm dead. How can I possibly slag others off for wanting perpetual HPI if I am not willing to have my home fall in (nominal) value?

If I was only able to scrape together a 5% deposit, average income and needed help to buy, aka suck on a gas pipe, no chance. Same house, same price, different circumstances.

[Si1]

There are currently houses being bought as homes, contracts exchanged, people moving in etc. iow, it is not a zero trade market, there is some, albeit low, activity. Not beyond the realms of possibility that one of those buyers is a member here.

We all have different circumstances. Assuming I was younger, If I had an above average income and enough cash for a large deposit and wanting to start a family, then my desired family home being overpriced would be no never mind as long as I could afford it. If I'm there for 40 years plus, any valuation is nominal to me and only really applies to whoever gets the place after I'm dead. How can I possibly slag others off for wanting perpetual HPI if I am not willing to have my home fall in (nominal) value?

If I was only able to scrape together a 5% deposit, average income and needed help to buy, aka suck on a gas pipe, no chance. Same house, same price, different circumstances.

Wtf is a zero trade market?

[Si1]

No reply from the OP - I would say definitely a hacked account. And I notice a further troll has chipped in now using very similar language to the first one. Well done to the mods for moving this off the main forum, the last thing we want is this sort of "confession" cluttering up the front page which is where most people look.

They sound like scientologists.

I shall hereby label them housingtologists.