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Still seems positive among the masses.

One lady I know, a doting 34 yo mother and works in a chain bakery shop, declaims that property is the only good investment. Another one, a 50 something lady, works in education specialising in art, poorly paid, has recently splashed out on a mortgage on an expensive but tiny flat in a nice part of Leeds to live in (presumably in rented flat before, not sure); it's an investment for her old age apparently. Both lovely people committed to their friends and family etc. Both marginally innumerate. Both all in with leveraged private finances in property.

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Guy from work is buying house as an investment in Sheffield. He is living and working in London and he is telling everyone about his big plans and how good business it is.

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I know what the OP means but I sense a real change down south.

Someone I know was planning to sell up and move to the midlands and it went something like this:

  • Chain down south broke down twice (it was a fairly short chain).
  • Finally gets a 'firm' buyer but at a price below what they needed (what the house is worth etc).
  • House owner in midlands agrees to lower price - I think its been on the market quite a while.
  • Friend finally reevaluates the whole business and currently all bets are off.

The result of this is quite a few 'Sold Subject to Contract' properties are back on the market. My personal feeling about this is that the sheer quantity of money involved in these transactions is starting to really make buyers and sellers very nervous, another sign of a delicate market that could become unstable very quickly.

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People are utterly brainwashed by the propaganda, they sit around confused as to why there 250k shit house in a shit poor part of yorkshire wont sell. They completely refuse to accept any sort of logic and live in a land of fantasy about investments and chinese buyers and all the propaganda crap.

Attitudes wont change till people are burned like a child with a hot stove.

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Still seems positive among the masses.

One lady I know, a doting 34 yo mother and works in a chain bakery shop, declaims that property is the only good investment. Another one, a 50 something lady, works in education specialising in art, poorly paid, has recently splashed out on a mortgage on an expensive but tiny flat in a nice part of Leeds to live in (presumably in rented flat before, not sure); it's an investment for her old age apparently. Both lovely people committed to their friends and family etc. Both marginally innumerate. Both all in with leveraged private finances in property.

That young mother hasnt seen that junior gold miners and silver miners have trebled since January but then there are no TV shows about that.It is cruel though how bull markets suck in decent people right at the top,they never buy young bull and old bear markets.Its always been this way.The older lady with the flat,i guess it will depend what she has paid,but when mortgages increase along with service charges and her deposit/equity goes she is trapped.Thats if the flat is where she is moving to live like you say rather than a BTL.

50 and all capital sunk into leveraged property after a huge bull run,her favourite painting might be The Scream soon.

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I know what the OP means but I sense a real change down south.

Someone I know was planning to sell up and move to the midlands and it went something like this:

  • Chain down south broke down twice (it was a fairly short chain).
  • Finally gets a 'firm' buyer but at a price below what they needed (what the house is worth etc).
  • House owner in midlands agrees to lower price - I think its been on the market quite a while.
  • Friend finally reevaluates the whole business and currently all bets are off.
The result of this is quite a few 'Sold Subject to Contract' properties are back on the market. My personal feeling about this is that the sheer quantity of money involved in these transactions is starting to really make buyers and sellers very nervous, another sign of a delicate market that could become unstable very quickly.

Hearing people say they were "disappointed" with the offers they have been given in Scotland.

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People are utterly brainwashed by the propaganda, they sit around confused as to why there 250k shit house in a shit poor part of yorkshire wont sell. They completely refuse to accept any sort of logic and live in a land of fantasy about investments and chinese buyers and all the propaganda crap.

Attitudes wont change till people are burned like a child with a hot stove.

Yep, attitudes will maybe only really change when there is a proper and undeniable correction, but many IME have lost the enthusiasm they once had for property as chains break down, the MSM goes negative, and they have or know about houses that have been on and off the market literally for years. It is night and day for sentiment from the heady days of HPI Forever, but still a ways to go yet for proper re-education of the masses. Plenty of global risks floating around though to bring it all to a messy end, keep the popcorn at hand I say.

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everyday that passes now it seems riskier and riskier to go balls deep on a mortgage. Maybe I just hang out on here too much :)

It is a risk that your views are coloured by the views of those around you... The question is can you see any reason for house prices to increase beyond where they already are....

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It is a risk that your views are coloured by the views of those around you... The question is can you see any reason for house prices to increase beyond where they already are....

Is there a time period here or are we talking forever

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I was speaking to someone yesterday (currently also balls deep in BTL) who told me friend of his aged 60 had just bought his first property to rent out in Sunderland to DSS...

He thought (at least till I happily demolished the fairy tale) this was a wizard idea. 60k house / 500 a month rent - what a yield!

I informed him good luck getting the rent and enjoy spending 10k getting it habitable again.

A relative of mine with no pension, despite a lifetime of leased German cars, 20k holidays etc has had to radically downsize from the family home and is expecting someone to pay for his pension via the ludicrous asking price provided by the local estate agent. Been up for a year, 30k reduction and 1viewing.

Guy who I work with just bought an ex BTL property from a bankrupt landlord. The landlord had 9 properties all in Durham ran from his little empire back in Nottingham. I've told this guy he's catching a falling knife but apparently house prices have bottomed out in the North east...

I speak to numerous people every week as part of my job and I often steer the conversation round to the state of the economy / houses / debt etc and most just do not get it.

People will get it one day....

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It is a risk that your views are coloured by the views of those around you... The question is can you see any reason for house prices to increase beyond where they already are....

I never believed they would sacrifice the whole economy to keep house prices high and I never thought people would be so stupid as to take on the debts they have. I always hoped it was turning eventually I just dropped out the game altogether. I really do believe it has turned up north though, houses are sitting on the market for years now. Average wages in the area have stagnated for years too. It wont just be house prices but the whole economy needs a reset.

I believe now that it is going to be the mother of all crashes but god only knows what they will do to bail everyone out because this is a country now where people always avoid personal responsibility.

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I work offshore and speak to people from all over the country.

Yesterday one of the well technicians from Norwich said "I heard house prices are really cheap at the moment"..... :rolleyes:

A pipeline inspector from Hull (where I live) has been trying to sell his apartment for a year for £105K. He rejected an offer of £103K when it had been on the market for 6 months. Crazy if you ask me. If that's not bad enough, he's decided to buy a 4 bed house "whilst it's cheap" and sell his house at a later date, avoiding the 3% extra stamp duty IF he sells within 2 years. He laughed at me when I said back in March we're due a house price crash and he keeps gloating that it still hasn't happened...

A technician from Plymouth just bought a 2 bed terrace for 160K. Yikes...

My mum and dad are still trying to sell their most recently redeveloped house in Hull. £145K for a 3 bed terrace in a rough area. A few years back they were sub 100K and the recent surge is due to a nearby school being awarded an "outstanding" rating by ofsted. Still, similar properties on the same street but priced at 130 - 135K haven't sold so I don't expect their house to sell any time soon!

My experience of searching in Hull is that transactions have dropped hugely. Property isn't selling, demand and supply have both fallen, but I've seen some truly ridiculous asking prices this week. £325K for a 2 bed bungalow when you can buy a 3/4 bed semi with large garden for the same price. It seems to me like an experiment by the EAs in an attempt to make people think prices are going up and get people selling again.

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I have seen a couple of places on RightMove recently where the price has been increased by the Estate Agent as it went STC. Definitely some market manipulation going on. This was in London.

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£325K for a 2 bed bungalow when you can buy a 3/4 bed semi with large garden for the same price. It seems to me like an experiment by the EAs in an attempt to make people think prices are going up and get people selling again.

Lol nah, with respect, bungalows are often at a premium becuase they are sought after by pensioners / baby boomers "downsizing". Being generally the richest in society (well, on paper / ponzi) the same market they seem to believe and benefit from in, treating them likewise.

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Yesterday one of the well technicians from Norwich said "I heard house prices are really cheap at the moment"..... :rolleyes:

His definition of cheap vastly differs from mine then!

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A relative of mine with no pension, despite a lifetime of leased German cars, 20k holidays etc has had to radically downsize from the family home and is expecting someone to pay for his pension via the ludicrous asking price provided by the local estate agent. Been up for a year, 30k reduction and 1viewing.

I think you meant so "because" not despite

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My wife was browsing rightmove last night showing occasional interest in certain properties. I knew we were ok when she answered "No" when I asked her "Is there anything you would actually buy if you had the money?" The clincher was that a house we viewed a few years ago is back on the market. We didn't like it then and would have then needed a mortgage. We now have enough cash to buy it outright and consider the possibility of buying it a joke.

Less than 5 years now until my pension starts - No way the money in the bank is going on any little cr@pbox!

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Just seen on Facebook an old former colleague of mine celebrating a successful refurbishment 'great refurb!'. Happy happy. Halifax way.

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Just seen on Facebook an old former colleague of mine celebrating a successful refurbishment 'great refurb!'. Happy happy. Halifax way.

Postcode? I'll pop over and take a shit in the front room.

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