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mewParadigm

Dt Headline: "you'd Be Crazy To Buy A Home Right Now" (London Ftbs)

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She takes a bit of a swipe at even her most cautious of friends choosing to push and fall over one another to in the chase mental prices in Twickenham 'before they go up even further'. We make our own decisions in markets, no matter how much pavement lickers think such buyers should be bailed out by those who chose to wait for correct, as per when prices were 35% less in 2007 and the excuses of 2008-2010 lobbying for rescues, in reality to save values for older owners/btlers - thanks.

One of the comments...

This would make for quite a change.


Bilforum • 16 days ago
Last week,the Forty Group of Conservative MPs published a policy paper, authored by MPs James Morris and David Mowat, calling for stamp duty to be paid by sellers and not buyers.
Prime minister David Cameron welcomed the report which is being framed as a “moderate manifesto” for the Conservative party ahead of the next election.
The MPs argue sellers are in a better cash flow position as they will have just received payment for the house. They argue the change would also remove some friction from the housing market and make it more “buoyant” by allowing first-time buyers to purchase homes “tax-free” and helping people move up the ladder.
First-time buyers would be key beneficiaries of such a policy, especially in London, where the average house price is around £300,000. Borrowers would need to save £60,000 for the average 20 per cent deposit alongside a further £9,000 to pay in stamp duty.
National Association of Estate Agents managing director Mark Hayward says: “Any change would help as it is a huge tax that people forget about until they move house so it is a hidden tax. There is nothing wrong with looking at charging sellers instead of buyers as the Government will get the same amount of money.

I know there's a fair balance of hpc-style replies in most of these articles, but the housing bulls... there are so many complacent idiots who should be the renting ones, millionaire-HPI owners who really need a hpc hard kicking into the real world.

londonhector
some advice from a seasoned London buyer
'there is never a bad time to buy your own home'
you buy that for so many reasons, low down that list will be the profit you might make at some future date (unless you have some psychopathetic tendencies).
however investing in property needs careful timing, particularly London buy to let.
therefore if you're a first time buyer and can afford the deposit and the mortgage just get on with it, only by luck will you choose the right time and so many have lost so much waiting for prices to fall. (since 1964 they have increased by 130 fold and in every year of that 50 clever economists told the great unwashed it can't go on)
'the things we regret are the things we didn't do not those we did'
Leitmotif londonhector • 15 days ago
Tell that to those who bought in 1988 and were forced to sell in 1994
londonhector Leitmotif • 15 days ago
tragic for those who lost their homes
however you are talking about 0.15% of all households
your chances of being killed in a car accident during your life time is 1.49% ten times greater
the ideal the no one should buy a property because 0.15% will lose their home is an odd one

Leitmotif should have pointed to all of the owners who saw the value of their homes crash, and the grateful, oh-so-grateful opportunity it gave so many buyers. Know a few owners who were finally able to upsize to family-homes older owners were hogging.

Edited by Venger

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the ideal the no one should buy a property because 0.15% will lose their home is an odd one

0.15% of those that bought at the wrong time? I don't think so! Overall, maybe.

Lets all rush and join that 0.15% then? Is that the argument? After you.

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