Office Anecdotal On Help To Buy

[Downside]

I'm currently in the process of buying my first hours (right price, perfect location and ticks all our boxes) so have been talking to a few colleagues in the office about house buying etc.

Turns out there at least 3 people looking to buy or buying a house using the help to buy scheme! Now I personally have avoided using any government assistance as I disagree with their housing props.

First guy is using help to buy 1 to buy a new build one bed flat with a 20k loan from the government

2nd guy has just proposed to his missus so is looking to move out of his rental and needs his own place, he said he has hardly any savings so is using HTB 2 to top up his small deposit

3rd guy his partner is moving out of his parents as they are moving away so they are looking to get a place together, got the usual renting is dead money blather. His partners parents are giving them the deposit to buy their own place and are also using htb to top up their purchasing power.

I never thought I would find someone using help to buy as I figured it didn't make financial sense when you read the fine print but clearly not everyone is as fussed as I am.

On top of all this my boss was telling me how using the housing ladder he bought a 1 bed house on his own, then traded to a 3 bed semi, and now lives in a 4 bed detached and how amazing it all is. But then went on to say how us youngsters want to just jump straight into a 3 bed semi and expect it all at once. He seems completely clueless to how times have changed and how the ladder doesn't exist anymore.

On the upside everyone got a bonus this year to make up for 2 years of no wage increases (i've only been here less than a year so didn't experience that fortunately) and company profits are up.

[TheCountOfNowhere]

I'm currently in the process of buying my first hours (right price, perfect location and ticks all our boxes)

Enjoy Spain, it's a lovely country. I'm surprised Help To Buy is available to anyone lucky enough to escape the UK.

All the young people I work with have decided house buying is pointless at the insane prices we currently have, they've had no pay rise for 4 years and were told today they'd not be getting one this year. A continual trickle of peolpe being made redundant.

I think maybe the people I work with a just poor thicko's though, they are all Cambridge graduates so I suspect those old Uni's are churning out any old cr*p these days.

Good luck though, I suspect you'll need it.

Edited February 26, 2014 by TheCountOfNowhere

[Downside]

Enjoy Spain, it's a lovely country. I'm surprised Help To Buy is available to anyone lucky enough to escape the UK.

All the young people I work with have decided house buying is pointless at the insane prices we currently have, they've had no pay rise for 4 years and were told today they'd not be getting one this year. A continual trickle of peolpe being made redundant.

I think maybe the people I work with a just poor thicko's though, they are all Cambridge graduates so I suspect those old Uni's are churning out any old cr*p these days.

Good luck though, I suspect you'll need it.

Ha ha its not in spain (I wish!) its in the uk but is close to both our work places and we can walk to both our parents in 10 mins plus decent schools in the area. Its taken us a year of looking to find it but was worth the wait.

Its funny cause the earlier in the year I was talking to some other colleagues who are more my age and they were all agreeing about how insane house prices are and how they will be unlikely to ever buy a house. It seems the only way to buy a house is to be gifted the deposit or use a government scheme to fund it.

[TheCountOfNowhere]

Ha ha its not in spain (I wish!) its in the uk

hang on...you said "right price,"...i think you'll find that is not the case....prices are ridiculous in the UK , hence why I assumed anyone buying now had to be one of the lucky ones that have escaped abroad and bought a decent sized house at a sane, affordable price.

I suspect you are either talking BS, are an E.A. or are somehow mentally incapacitated, no one in their right mind would buy a house at todays asking prices, this is 2007 on steroids.

[Si1]

hang on...you said "right price,"...i think you'll find that is not the case....prices are ridiculous in the UK , hence why I assumed anyone buying now had to be one of the lucky ones that have escaped abroad and bought a decent sized house at a sane, affordable price.

I suspect you are either talking BS, are an E.A. or are somehow mentally incapacitated, no one in their right mind would buy a house at todays asking prices, this is 2007 on steroids.

[renting til I die]

I think maybe the people I work with a just poor thicko's though, they are all Cambridge graduates so I suspect those old Uni's are churning out any old cr*p these days.

Good luck though, I suspect you'll need it.

Lol

[underscored]

Owner of the areas largest estate agents came to my house this morning to value it for probate.

I told him it felt like 2006 all over again. He agreed and told me that for someone in my position I should sit tight for a year, as it is likely the market will come to me... Was very surprised.

[renting til I die]

hang on...you said "right price,"...i think you'll find that is not the case....prices are ridiculous in the UK , hence why I assumed anyone buying now had to be one of the lucky ones that have escaped abroad and bought a decent sized house at a sane, affordable price.

I suspect you are either talking BS, are an E.A. or are somehow mentally incapacitated, no one in their right mind would buy a house at todays asking prices, this is 2007 on steroids.

Count, you think everyone is a IV or an EA! If you get out of the Southeast, (esp London!) there seems to be odd areas where the last 'correction' (I use the word loosely, as I think the only place to have a true correction was NI!) was deeper than others, certainly if you are on a good wage. Overall affordable is still too low, and prices rises, again, are clearly out pacing any wage rises, so the situation is totally unsustainable long term. Anyone buying at the moment needs to understand how much their mortgage payments could jump up over the duration of the mortgage and that a sustainable price to income ratio will fall back into line sooner or later! So no HPI for a long time, unless we have a real correction or wages take off! (fat chance!)

Anyway, good luck Downside. I hope you have long term plans to deal with any fallout from the UK's crazy housing market and enjoy your new home.

[renting til I die]

Owner of the areas largest estate agents came to my house this morning to value it for probate.

I told him it felt like 2006 all over again. He agreed and told me that for someone in my position I should sit tight for a year, as it is likely the market will come to me... Was very surprised.

I think a lot people can see the current situation is unsustainable. Even someone in the housing game! It is surprising that he stated a time frame though.

[GinAndPlatonic]

Ohhh stop it. How many more accounts are going to be hacked.

Edit..I`m paranoid.

However this place is getting to sound like mumsnet.

Edited February 26, 2014 by GinAndPlatonic

[Downside]

Count, you think everyone is a IV or an EA! If you get out of the Southeast, (esp London!) there seems to be odd areas where the last 'correction' (I use the word loosely, as I think the only place to have a true correction was NI!) was deeper than others, certainly if you are on a good wage. Overall affordable is still too low, and prices rises, again, are clearly out pacing any wage rises, so the situation is totally unsustainable long term. Anyone buying at the moment needs to understand how much their mortgage payments could jump up over the duration of the mortgage and that a sustainable price to income ratio will fall back into line sooner or later! So no HPI for a long time, unless we have a real correction or wages take off! (fat chance!)

Anyway, good luck Downside. I hope you have long term plans to deal with any fallout from the UK's crazy housing market and enjoy your new home.

It does seem like anyone who even mentions they are buying a house is now classed as hacked or a VI. I visit this site every day (its my morning read during breakfast) and have been on this site for a long time. I can assure you its not been 'hacked'. By right price I mean its cheaper than anything we've looked at for the size.

Also its just outside the south east where prices are not as mental as in London. We all want cheaper houses and its not that i'm fed up of renting its just I need something more suits my needs. This house is also in my home town which was out of reach until this place came along. Its a probate as well and is several thousands cheaper than the last sold price in the road which was in 2011.

I have nothing to gain by trying to make people buy. Besides there can't be a crash unless people buy houses for less than the previously sold ones.

Edited February 26, 2014 by Downside

[John51]

If wanting perpetual HPI is wrong, surely it follows that a person accepting the fact that property can be a depreciating asset but buying anyway due to personal circumstances is ok.

Otherwise it's a power play, HPCers v boomers, currently a standoff, rent until most of the boomers croak.

[renting til I die]

If wanting perpetual HPI is wrong, surely it follows that a person accepting the fact that property can be a depreciating asset but buying anyway due to personal circumstances is ok.

Otherwise it's a power play, HPCers v boomers, currently a standoff, rent until most of the boomers croak.

That's right! Apart from the time value of money, houses are a depreciating asset. They require servicing and maintenance. Just like a car! It shouldn't stop people from buying them as its nice to have your own place which you can do what you like with. (not that I know what that feels like as I have never bought anywhere! but I think I would be nice, although I can't ever see myself doing decorating! I have better things to do with my time!)

As someone fast approaching 40 and living in London, I was starting to wonder long I could wait for some sanity to return to London housing but after HTB1 was announced, and a long chat with the wife, we decided that after my current contract was finished (work just got a new 5 year contract ) if the housing situation was still crazy (or worst! anyone thought about how bad it could get!), we would look at moving somewhere else in the world! I have to say I feel far happier with that decision made and I don't waste any my weekend looking at overpriced houses!

[renting til I die]

It does seem like anyone who even mentions they are buying a house is now classed as hacked or a VI. I visit this site every day (its my morning read during breakfast) and have been on this site for a long time. I can assure you its not been 'hacked'. By right price I mean its cheaper than anything we've looked at for the size.

Also its just outside the south east where prices are not as mental as in London. We all want cheaper houses and its not that i'm fed up of renting its just I need something more suits my needs. This house is also in my home town which was out of reach until this place came along. Its a probate as well and is several thousands cheaper than the last sold price in the road which was in 2011.

I have nothing to gain by trying to make people buy. Besides there can't be a crash unless people buy houses for less than the previously sold ones.

It mainly seems to be the Count or Bruce. I enjoy reading a lot of their comments but it does make me laugh when they come over all paranoid! Although, I think I may have called someone a EA once before too...

As I previously said, I wish you all the best and good luck in you new home. Hope you still find time to drop by HPC once in a while, between all the decorating!

[TheCountOfNowhere]

im sure the poster is genuine like they other 2 a day we see.

the is the house price crash web site...what response do they expect.

asking prices at all time highs...London mega bubble...crazy government schemes....why would so many people lbe ogging on to tell us all...and all the people who casually done here...how they are buying and how they think they got a great prices.

ill stay cynical...you stay gullible.

[renting til I die]

I'm currently in the process of buying my first hours (right price, perfect location and ticks all our boxes) so have been talking to a few colleagues in the office about house buying etc.

Turns out there at least 3 people looking to buy or buying a house using the help to buy scheme! Now I personally have avoided using any government assistance as I disagree with their housing props.

First guy is using help to buy 1 to buy a new build one bed flat with a 20k loan from the government

2nd guy has just proposed to his missus so is looking to move out of his rental and needs his own place, he said he has hardly any savings so is using HTB 2 to top up his small deposit

3rd guy his partner is moving out of his parents as they are moving away so they are looking to get a place together, got the usual renting is dead money blather. His partners parents are giving them the deposit to buy their own place and are also using htb to top up their purchasing power.

I never thought I would find someone using help to buy as I figured it didn't make financial sense when you read the fine print but clearly not everyone is as fussed as I am.

On top of all this my boss was telling me how using the housing ladder he bought a 1 bed house on his own, then traded to a 3 bed semi, and now lives in a 4 bed detached and how amazing it all is. But then went on to say how us youngsters want to just jump straight into a 3 bed semi and expect it all at once. He seems completely clueless to how times have changed and how the ladder doesn't exist anymore.

On the upside everyone got a bonus this year to make up for 2 years of no wage increases (i've only been here less than a year so didn't experience that fortunately) and company profits are up.

And lets try to get this back to tread. The point first made wasn't about Downside buying a house it was how everyone in his office loves HTB1!

Anecdotal, in my office. I'm the main bear! No-ones spoke to me about HTB and when housing is spoken about it tends to be about how unaffordable it is!

We have one young lass who has bought a shared ownership flat, I have warned her about some the pitfalls of them but she seems happy enough with it at the moment!

[renting til I die]

im sure the poster is genuine like they other 2 a day we see.

the is the house price crash web site...what response do they expect.

Lol, very true! I do wonder why people would want to let everyone, on a bearish website, know that they have bought a house! I suppose its to say goodbye, I don't need your forum to vent my frustration any more!

I promise, I will never post a tread saying that I have bought anything! I'll just keep it to myself!

asking prices at all time highs...London mega bubble...crazy government schemes....why would so many people lbe ogging on to tell us all...and all the people who casually done here...how they are buying and how they think they got a great prices.

Agree. I was reading a long time before posting and there are too many pointless treads now days. Still, I haven't found anywhere else on the web that has so many like minded bearish thinkers as myself, so I put up with these odd bullish treads.

ill stay cynical...you stay gullible.

I hope you do

[TheCountOfNowhere]

Lol, very true! I do wonder why people would want to let everyone, on a bearish website, know that they have bought a house! I suppose its to say goodbye, I don't need your forum to vent my frustration any more!

I promise, I will never post a tread saying that I have bought anything! I'll just keep it to myself!

Agree. I was reading a long time before posting and there are too many pointless treads now days. Still, I haven't found anywhere else on the web that has so many like minded bearish thinkers as myself, so I put up with these odd bullish treads.

I hope you do

[Downside]

It mainly seems to be the Count or Bruce. I enjoy reading a lot of their comments but it does make me laugh when they come over all paranoid! Although, I think I may have called someone a EA once before too...

As I previously said, I wish you all the best and good luck in you new home. Hope you still find time to drop by HPC once in a while, between all the decorating!

Thanks, I didn't think me buying a house a house would this much controversy it wasn't even ment to be the focus of the thread. As for visiting this site its practically part of my morning routine so I will still return. I enjoy reading reading the comments on various posted threads. I might stick to lurking though.

[wherebee]

It does get a bit boring chaps when every time someone posts they are buying (which does interest me as it shows sentiment changes and also real buying prices) someone shouts 'hacked' or 'estate agent'. It undermines you - like sticking your fingers in your ears and shouting la la la when your boss says you are fired...

[TheCountOfNowhere]

Thanks, I didn't think me buying a house a house would this much controversy it wasn't even ment to be the focus of the thread. As for visiting this site its practically part of my morning routine so I will still return. I enjoy reading reading the comments on various posted threads. I might stick to lurking though.

You're not buying a housing your pumping out the HTB agenda of the government.

There I said it.

You didn;t mention anything about the house you are buying...no mention of area, type, price relative to the 2007 bubble, sold prices nearby.

Just, "I'm buying at good price...HTB yada yada yada".

Total B.S.

There's no paranoia in spotting estate agent posters.

Edited February 27, 2014 by TheCountOfNowhere

[TheCountOfNowhere]

http://www.housepricecrash.co.uk/forum/index.php?showuser=27168&tab=topics

3 weeks ago downside was investign in gold...now he's borrowing to buy a house.

make your mind up.

[Downside]

http://www.housepricecrash.co.uk/forum/index.php?showuser=27168&tab=topics

3 weeks ago downside was investign in gold...now he's borrowing to buy a house.

make your mind up.

Firstly the gold thing was me just getting a feel for it I only invested £20 hardly bank breaking. As for house buying I'm not using help to buy and would shy away from using it. The reason I never mentioned specifics on the house I am buying is because it wasn't ment to be the focus of the topic. Since you asked for it here it is.

The location is Bedfordshire and its about 7% under the last sold price for the same house in this road which was 2011, which was lower than the 2007 price. All in its about 14% under 2007 prices. So I'm hardly stoking the bubble.

Its also cheaper than houses of smaller size in worse areas which is why we went for it.

[Harlequin]

Why do people get so angry and abusive if one of the contributors says they are buying a home? I have owned my own home for many years it is a lifestyle choice. I do not call people names who choose to rent and not buy as I have done - I accept that we are all individuals and others may choose to live differently to me. Sadly it seems anyone who wants to own their own home rather than pay someone else's mortgage has top be either called names or told they are an estate agent or a troll. All very bizarre.

[Harlequin]

"I think maybe the people I work with a just poor thicko's though, they are all Cambridge graduates so I suspect those old Uni's are churning out any old cr*p these days"

Infantile comment from a guy who is totally negative and has nothing nice to say to anyone - if anyone is a troll ........................