Home owners (like me) - why are you on here?

[wsn03]

There seems to be a few people on here who have homes, and like me on paper probably benefitted massively from HPI. So im just interested to know what draws you to this forum.

In my case ive always felt house prices are far too high, and a social and economic train crash is pending. High house prices don't benefit me as i only have one house, sell it and I'll only have to buy another one.

I couldn't afford to buy my own house now btw. Ive earned more than it but only cause ive done ok out of business.

 

We badly need to lose the obsession with houses, bad news all round. We need productivity. 

 

I come on here for useful insights, very useful. 

 

[crouch]

I'm in the same position as you - in fact I'm retired now.

I think the whole property thing has gotten out of hand and grown to be a monster. All the talk about prices reflecting supply and demand is utter BS. The real culprit is the financialization of the economy and the debt based system we've grown into and which will not end well.

Ironically, I don't think that an HPC is all that important to most on here, despite what they may (and do ) think. I can fully understand wanting your own property - as I did - but I would be far more concerned about the fact that we've nowhere near come to terms with demographics and the challenge from AI/robotics and these will loom far more in the lives of those now wanting an HPC. If there was a massive HPC now it would'nt be the end of the challenges for most on here but just the beginning.

 

 

[Everythingsamess]

I am in the same position as you. Have done quite well out of HPI.

I am absolutely sick of the system. I find it revolting. I have friends who are frozen out of my local town. The massive difference in their lives and that of their peers is a chasm (through bad luck, divorce etc).

No one talks about it where I live. I live in a rich middle class SE market town. There are supposedly clever people who live here who have good jobs. No one talks about it. It's like 1984. There is the biggest elephant in the room ever and no one cares.

I have learnt so much from these forums. I am different from the majority here in that I am a woman, 38, with three young kids. My heart also lies with being frugal etc (which most HPCers love). Being on this forum has taught me and led me to so many different places, money, policitics etc etc.

The whole situation does my head in as well in that it was all so unnecessary. What a giant colossal waste of time.

People (most) want a quiet life. Couple of kids, decent school, pub, mates, holiday in spain, semi 3 beds. What a useless series of governments that can't even do that. I could do so much better.

[Everythingsamess]

I have also been reading the forum since 2003. Rarely post. What happened to Fred (?) that only used to post in poems and the snowbear guy who lived in sussex?

[juvenal]

Homeowner. Have two kids around thirty. Both in good jobs. Both need their own homes. South East England. Enough said.

[One-percent]

I too own my home.  Outright with no mortgage. It doesn't matter to me whether it is worth one pound or a million, I still need somewhere to live.  I've read this forum since around 2007 and realised long before that that hpi was fools gold.

personally for me, it prohibited a move up the ladder.  I could have done it but didn't want to be massively in debt. So the house we live in is really too small.  My offspring will never be able to afford to buy, hence why the house is too small   

i would gladly see a massive crash and have told my kids to hold off from buying.  But then I've been thinking that since 2008 

[monkeyman1974]

Homeowner, leafy London commuter town, 2 girls. They need a chance too. 

[onlyme2]

Nearly paid off mortgage. Money spent on housing has prevented investment in new company startup (probably multiple by now).  Also offspring to think about. Plus the disgraceful selection by the banking/political cartel of winner and losers in the whose investment field, usually themselves being the prime recipients.

God awful situation and has been for a long time, has been and will be economically and personally crippling for decades as a result.

 

 

 

[sPinwheel]

I like to sleep with the enemy.

 

[Byron]

I own my home outright, came on here ages ago worried about my children.

Now also worry about my grandchildren

[CunningPlan]

6 minutes ago, Byron said:

I own my home outright, came on here ages ago worried about my children.

Now also worry about my grandchildren

I have already realised that I either won't have grandchildren or if I do they will live in another country given that if they remain here my boys have the unenviable choice of a home, children or a pension. But they can only pick one.

Or go on benefits. But thy are not built that way and I think (hope?) that option is slowly being removed.

[EssKay]

I started reading this forum in the mid 2000s - largely because I couldn't believe what I was seeing around me - crazy house prices which I thought at the time couldn't possibly be sustained. I thought a HPC in the next few years was inevitable...

 

The 2008 crash dented confidence a bit but as we all know, the government props kept on coming and the fundamental issue of lack of supply wasn't addressed - hence those crazy prices kept on rising.

 

I reached a point about 3 years ago where it didn't look like things would ever change. My career had also moved on quite a bit and I was in a position where I could buy the place I wanted in zone 2 London with a 3x income mortgage (and a very hefty deposit). I was sick to death of insecure tenancies and lining the pockets of BTL landlords so I took the plunge and bought.

 

Why do I keep coming here? Largely for the insights and attitude of the people on here. There's no other forum quite like it

[winkie]

I am a homeowner but have never benefited because the faster I tried to repay the loan the greater the distance the next rung becomes.....takes many years of hard work to pay for a home outright, only then will the monthly mortgage commitment disappear, but living in a home still costs taxes and money to run....it only then  becomes dead money liability, not an asset you can spend without incurring more debt that requires extra income, but what it does give you is time and better choices....no gain without pain.

The only thing that counts is the price you pay and the price you sell, if you sell.....value other than that means nothing, zero, zilch.

[crashmonitor]

No mortgage but with two thirds of our equity in cash etc I would be quite happy with a crash. 

[winkie]

19 minutes ago, crashmonitor said:

No mortgage but with two thirds of our equity in cash etc I would be quite happy with a crash. 

 

.....why would a home owner feel disadvantaged by a fall in property? why would a mortgage owner feel a disadvantage in a fall in property?....a home should be for living in not an investment.....the faster they fall the cheaper the next if there is a next will be......only banks, and multiple home investors welcome home asset inflation....perhaps they expecting land and buildings to pay future taxes, health and pension costs, something has to pay for it?

 

[One-percent]

14 minutes ago, winkie said:

 

.....why would a home owner feel disadvantaged by a fall in property? why would a mortgage owner feel a disadvantage in a fall in property?....a home should be for living in not an investment.....the faster they fall the cheaper the next if there is a next will be......only banks, and multiple home investors welcome home asset inflation....perhaps they expecting land and buildings to pay future taxes, health and pension costs, something has to pay for it?

 

As I said upthread Winkie, it matters not to me whether my home is worth a pound or a million.  I need somewhere to live.... I guess if you are maxed to the hilt with a mortgage then it might matter if you wanted to move.  

Edited December 29, 2016 by One-percent
Crapple predictive text again

[Motor_Blade]

Buying into or even beating the system doesn't preclude recognizing that the system is screwed or that conventional wisdom regarding housing is a one way ticket to disaster and its nice to see the opinions of those who think the same. 

[ChewingGrass]

Cos its my one and only house and I'm paying for it till I'm 65 as well as trying to fill a money purchase pension pot at the same time.

By the time I've finished paying for the thing thanks to an endowment and 3 kids who are all still at home it will have taken 42 years.

[winkie]

2 minutes ago, One-percent said:

As I said upthread Winkie, it matters not to me whether my home is worth a pound or a million.  I need somewhere to live.... I guess if you are maxed to the hilt with a mortgage then it might matter if you wanted to move.  

There are those that squirrel their own money away and take on as max possible mortgage/debt as they can.....so if it all goes pear shaped they walk away.....done many times in different places before....no personal accountability, you lose we win.

 

 

[One-percent]

2 minutes ago, winkie said:

There are those that squirrel their own money away and take on as max possible mortgage/debt as they can.....so if it all goes pear shaped they walk away.....done many times in different places before....no personal accountability, you lose we win.

 

 

Shirley the mortgage company will be after people who try this one on and will be able to recover the debt. 

[crashmonitor]

20 minutes ago, winkie said:

 

.....why would a home owner feel disadvantaged by a fall in property? why would a mortgage owner feel a disadvantage in a fall in property?....a home should be for living in not an investment.....the faster they fall the cheaper the next if there is a next will be......only banks, and multiple home investors welcome home asset inflation....perhaps they expecting land and buildings to pay future taxes, health and pension costs, something has to pay for it?

 

It doesn't matter that much to me, but a crash would make me smile since we didn't do the usual thing and put all our eggs in one basket. As it happens I usually get accused of being a VI bull these days just because I do own and because I try and give an honest rather than wishful assessment of where the Market is going.

[wsn03]

Really interesting...i came on here i think in 2006, very much a 'minority' (for this site) home owner...bought my dream home but was starting then to worry about my teenage daughters prospects, that and all my predictions failing to materialise brought me here.

Back then you were a bit outcast if you owned a house on this site. Someone even looked up my ip and realised it belonged to a construction company...i was there on a contract, and they only did commercial property. I remember being accused of ramping and was called an arrogant t055er amongst other things (by a very brave poster i look forward to catching up with one day).

It's really interesting seeing more home owners with the same concerns i always had. Those pleased with the current state of affairs are clearly going to become the minority at some point.

We're due a massive and prolonged correction or a social catastrophe in my opinion...and we brought it on ourselves  (though i never subscribed to it).

 

 

 

[crouch]

9 minutes ago, One-percent said:

As I said upthread Winkie, it matters not to me whether my home is worth a pound or a million.  I need somewhere to live.... I guess if you are maxed to the hilt with a mortgage then it might matter if you wanted to move.  

The irony is that many who were FTBers a few years ago and are sitting on some gains may well be rubbing their hands at how clever they were. However, if they try to move, many will find it simply too expensive as the whole ladder has escalated. I found this in the 1980s when I was sitting on large gains so I thought: why not move upmarket? Of course it was far too expensive as all other property had gone up. The difference between what I had and what I wanted was huge - and not worth it. These days when folk are far more in hock it's much worse.

[winkie]

2 minutes ago, One-percent said:

Shirley the mortgage company will be after people who try this one on and will be able to recover the debt. 

No, I don't think they did in the past, how could they in the future?.....a. if people hide it how will they find it? b. if people have not got it and have no way of ever working to earn it how can they get it or repay it?....just saying, most peoples wealth is the wealth they have made via equity...not made by working 40 hours a week, working money pays the day to day bills it does not make most people wealthy.....equity/capital does....fewer people than ever before have access to any of that.

[GreenDevil]

Sorry I don't see the point of this boast about how much Hpi gains thread?