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HOUSEHUNTER

Fecked Off, Can't See Prices Ever Coming Down

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No sign of prices falling, no inckling of anything remotely connected to an affordable outlook.........I'm completely fecked of with it, and losing hope of ever buying. :angry:

Know how you feel but it will get better I reckon- I live in brighton & half the houses in the city appear to be for sale- not much is moving & prices do seem a bit lower than they have been- and brighton has possibly seen the biggest bubble in the UK- see what 2006 has to hold, esp with rising debt and unemployment. Hang in there! :)

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What I don't understand is if prices drop over the next few years and there is such uncertainty about the economy, why would I want to get a 25 year debt? I am almost put off buying at any time.

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No sign of prices falling, no inckling of anything remotely connected to an affordable outlook.........I'm completely fecked of with it, and losing hope of ever buying. :angry:

Hope? Try not relying on hope.

If you we're never going to be able to afford to buy a house what would you do, would you be Mr angry until your death bed?

So its all hopeless you will never own a house, is your life over?

Get on with it :)

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remember houses dont make you money, you live in em.... wage inflation combined with high interest rates erodes debt. Try thinking of ways of making money for yourself and living the life you want, that doesnt neccerally means buying a house now...

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What I don't understand is if prices drop over the next few years and there is such uncertainty about the economy, why would I want to get a 25 year debt? I am almost put off buying at any time.

:lol:

Don't take it personally, but that is EXACTLY what people were saying to me in the mid 1990s. Why take on a 25 year debt whilst prices have been falling and the country has been in recession for so long.

Good old economy 'doom monger' Roger Bootle was saying property may never ever again be a good investment back in the early 1990s.

Luckily I ignored these muppets and bought a nice property.

I don't mean you should rush out and buy today, but you are going to have to wait a LOT LONGER for any correction to kick in.

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Know how you feel but it will get better I reckon- I live in brighton & half the houses in the city appear to be for sale- not much is moving & prices do seem a bit lower than they have been- and brighton has possibly seen the biggest bubble in the UK- see what 2006 has to hold, esp with rising debt and unemployment. Hang in there! :)

How's losing your job going to help you buy a house?

<_<

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I understand your feelings completely as never having owed property myself. I fear that we maybe entering a new era and I fear prices may stagnate for years.......

It angers me though as with yesterdays headline by the Daily Express about prices rising by £2000 in week. It’s as though they were doing a dance to it. I wonder just how wonderful society will be in another year’s time if prices do reach further and debt levels higher again. I sometimes feel like I’m one of only a small percentage of sane people surrounded by an utterly mad government and society as a whole. All I can offer is as I do try and save what you can and rent sensibly and hopefully prices will at some point return to a more realistic level.

:)

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remember houses dont make you money, you live in em....

My house is 'making money' compared to renting because I own it outright.

It will also make me money when I rent it out in a few years. It will make me more money when I turf out the tenants and sell it in the distant future. (probably when they have kindly paid off my mortgage on the second house...)

Don't wish to sound too smug but houses DO make money.

The rest of your advice below is good though.

Try thinking of ways of making money for yourself and living the life you want, that doesnt neccerally means buying a house now...
Edited by Without_a_Paddle

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a little tip for spelling 'necessary' properly is "1 Cup , 2 Sugars" alot of people get confused whether its double c or double s. neCeSSary.

Im far form the spelling police it's just a way that i remember it and thought i'd share :)

'necessarily'

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Guest muttley

Don't wish to sound too smug but houses DO make money.

Don't they ever lose money then? What's negative equity?Couldn't you sell your house and make MORE money by,say, buying shares? (At BMV of course!)

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I understand your feelings completely as never having owed property myself. I fear that we maybe entering a new era and I fear prices may stagnate for years.......

It angers me though as with yesterdays headline by the Daily Express about prices rising by £2000 in week. It’s as though they were doing a dance to it. I wonder just how wonderful society will be in another year’s time if prices do reach further and debt levels higher again. I sometimes feel like I’m one of only a small percentage of sane people surrounded by an utterly mad government and society as a whole. All I can offer is as I do try and save what you can and rent sensibly and hopefully prices will at some point return to a more realistic level.

:)

HI CORRECT ME IF IM WRONG WAS IS NOT THE DAILY EXPRESS WHO HAD A FRONT PAGE HEADLINE STATING (house prices slump) back in october? THEY PRINT SHITE DONT BELIEVE THE HYPE :P

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It angers me though as with yesterdays headline by the Daily Express about prices rising by £2000 in week.

This is based on Rightmove and is the ASKING PRICE. Its not soo much the value, they are trying to say that the Market has picked up and there is demand so therefore the prices MUST rise. It's complete and utter b0ll0x!!! All the EA's in the country say to someone shall we market it at £165K or £168K? No brainer what the seller says.

In other words - THE EA's DICTATE THE PRICES. Bear in mind the PROFITS are their lowest for MANY MANY YEARS! Transactions down to a 30 year low etc. It's a last gasp of AIR. The next 6 months are PIVITOL. If there is a POOR Spring AND IT IS PUBLICISED then expect prices to DROP.

If I told you "Im the best SHAG in the world", I'm hung like a DONKEY...... Would you feel sexual inferior to me now? Of course not! Its based on opinion and not backed up with substance. Dont believe what they say, and more importantly dont let the b@stards wear you down. They can say what they want coz they make the figures. Let them rise in asking price, there is even lesser chance of them selling!

TB

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a little tip for spelling 'necessary' properly is "1 Cup , 2 Sugars" alot of people get confused whether its double c or double s. neCeSSary.

Im far form the spelling police it's just a way that i remember it and thought i'd share :)

'necessarily'

I AM the spelling police!.......Well, I'm a total pedant on this issue.......and I can't for the life of me understand how graduate calibre people in here can't spell simple words or get their grammar right....

I suspect most schools didn't bother with this kind of stuff post-1970s.............eg. Many apparent graduates in here don't know the difference between THEY'RE.......THEIR....and THERE..................

....and it's always obvious when it's a misspelt word rather than the wrong key being hit....................

HI CORRECT ME IF IM WRONG WAS IS NOT THE DAILY EXPRESS WHO HAD A FRONT PAGE HEADLINE STATING (house prices slump) back in october? THEY PRINT SHITE DONT BELIEVE THE HYPE :P

Funny how it's always the ''Express'' and ''Mail'' type papers which have HP headlines on the front page and not the red tops......................................

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All you frustrated brainwashed people who believe you need to own a house before you can get on with your life, really need to get a grip. If you were unable to get a "hard on" whilst renting I could sympathise with you, other than that I think your possibly making a big thing out of nothing :rolleyes:

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Don't they ever lose money then? What's negative equity?Couldn't you sell your house and make MORE money by,say, buying shares? (At BMV of course!)

I could sell my house and buy shares and LOSE a lot of money. What's a stock market crash then?

Hmmm... what do you do when your shares start to tumble.... you need PROFIT from shares to pay the rent each month... Sell or hold? Pay rent from your salary? What if you get made redundant in the recession and the markets crash? I just don't want to go there thankyou very much.

Renting is not for me. I'm a high rate taxpayer so I get taxed 40% on any interest on savings so renting off the interest is out too.

STR would be a bad thing in my situation.

Besides... hidden inflation could really start to rise soon. Not good news for savers.

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Guest Charlie The Tramp

Besides... hidden inflation could really start to rise soon. Not good news for savers.

And when savers stop saving, not good news for the governments both here and across the pond. ;)

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Hi,

This is Goldeneye from Seattle, USA. The story of house price rise is the same here. Many first time buyers have been booted out of the market. The god damned prices don't seem to be coming down. Some of the buyers have taken enourmous loans to get into a house. Some have compromised and bought whatever meagre land they could afford. I have been kicking myself for the last years for having listened to stupid bubble talks and missed a great house that was mine for the taking. Today even if the market drops by 30% (which it most certainly won't), I would not be able to afford that house.

I have been following the UK market since it is 1 year ahead of the US. I use the UK market as a forerunner to the US market. Yet, inspite of the UK being twice as overvalued as the US, prices are very much on a stable trend and are all set to rise in 2006. Which means that the US which has much less inflation is set for a soft landing and all the doom sayers are just bull-shitting since they get cheap thrills in scaring people and free publicity since nothing travels faster than doomsday news.

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All you frustrated brainwashed people who believe you need to own a house before you can get on with your life, really need to get a grip. If you were unable to get a "hard on" whilst renting I could sympathise with you, other than that I think your possibly making a big thing out of nothing :rolleyes:

I agree that a house is not the most important thing in life, but I do feel that you should take a few things into consideration.

People like myself who would like children in the next few years don't want to be at the mercy of a landlord that can turf out the whole family at the end of the contract period (due to bankrupcy, moving away, to sell etc..).

I would like to retire having paid off the mortgage and not be in a position where I am forking out rent money from my pension till I die, living in squallor because my piffly pension amounts to very little, and I have no house to sell and step down.

I'm sorry Catch22, but this has nothing to do with brainwashing for most people, it's all down to a few simple economical facts of life.

I am quite lucky in that I am only 27, but there will be those who are much older and would like to be in a more environmentally stable "family" situation before they have kids.

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I use the UK market as a forerunner to the US market. Yet, inspite of the UK being twice as overvalued as the US, prices are very much on a stable trend and are all set to rise in 2006.

Hmm. Not so sure about UK prices set to rise in 2006. I see UK prices holding their own - just. The optimists are predicting 5% rises. There are still falls happening in some areas. Around where I live in West London I haven't noticed prices going up, if at all. The so called 'soft landing' is really what the vested interests want rather than what may actually happen, just like all the FTB that want a crash. In reality neither group really knows what will happen this year.

Neil

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No sign of prices falling, no inckling of anything remotely connected to an affordable outlook.........I'm completely fecked of with it, and losing hope of ever buying. :angry:

go directly to a new build development.. feign interest.

You can afford (pretend.)

look at incentives.. smile a lot, haggle..

take a further £10,000 of..

If succesful go home saying you will consider it.

Go home, don't consider it.

look at your take home salary,

Look at the savings you managed.. and work out how long it would take you to save that..

Look at how long your conversation lasted at the sellers..

now imagine you bought at full asking price.

the difference is tangible, you know how hard it would be for you to find that difference.

There is your drop...

go directly to a new build development.. feign interest.

You can afford (pretend.)

look at incentives.. smile a lot, haggle..

take a further £10,000 of..

If succesful go home saying you will consider it.

Go home, don't consider it.

look at your take home salary,

Look at the savings you managed.. and work out how long it would take you to save that..

Look at how long your conversation lasted at the sellers..

now imagine you bought at full asking price.

the difference is tangible, you know how hard it would be for you to find that difference.

There is your drop...

and if prices were to rise...

Well 7% now FTB's

No sipps..

and BTL failing.. and mortgages not happening.. etc..

not enough buyers can afford these prices

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  • 301 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%



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