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New Year Anecdotals

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I hope everyone had a good new year!

But for me, I return home with some interesting anecdotes.

I visited some friends of the family over new year, and this chap is now 35 still living with his parents. He has now decided to buy. To the advice of HPC I didn't push my bearish views.

What amazes me, is the little deposit he has (blown on cars etc) and that he is buying a house 15% above the ceiling for that road - he got into a bidding war apparently (I did point him to houseprices.co.uk, I'm not going to push this tho). But I'm shocked that he waits until now to buy, he could have bought 5 years ago when prices in the area were less than half that amount. :blink:

I also spoke with another friend, who works in a factory. She's always asking what I earn, of which I say nothing, but then she always goes on to winge about her work. She has received no pay rise for 2 years, saying if she doesn't like it, she can go work elsewhere. The company has said there will be no pay rise until the minimum wage catches up and forces a pay rise - this is due to the abundance Polish workers I'm told.

I've also had the spiel from the grandparents... I'm told I should be looking to buy. After stating I can't afford it, I'm told to invest in property shares (I assumed she meant REITS) as she read this in the paper. I said why would I do that??? I could invest in the stock market, receiving well over 10% return, or gold (which I have) and received a 15% return.

But what amazes me more (and I did sort of snap a bit) is that they lived through the 90s, the hardship that people endured, and it never occurs to them that housing is overvalued.

I just need to get it off my chest, as I've had to bite my lip a bit over New Year!

How was everyone's new year?

Edit: Yes, I realise I spelt anecdotes wrong in the title

Edited by Jason

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  • 301 Brexit, House prices and Summer 2020

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