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Jason

What's More Important To You?

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What's more important to you?

Ok, I thought I would ask this question on here, as it's something I was asked this evening (i've been drinking). Made me think, but the answer is obvious to me.

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The reason I ask is sometimes you hear some total arsehole talking about how prices will keep on rising, blah blah blah, you really need to buy now, and some are very greedy ... "My house is worth..." (just like in the expat forum mentioned on the other thread) and it makes me think I wish it does totally collapse.

But when I think about it, I don't want there to be a recession, I don't want unemployment to go up, I don't want people to lose their homes, I don't want people to top themseleves because of the credit crunch. I just want to be able to afford my own home.

(You can probably guess I had some twit round saying the above this evening)

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Just reasonable levels for me Jason. No smugness when prices adjust, as it will be accompanied by so many other poor economic factors IMHO, I`m not sure where or when the bottom will be reached :angry: BTW, where have you been? ;)

Edited by Converted Lurker

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To be honest, by the time the house price crash is obvious to the general public (and some will never realise it is happening judging by the numbers of people old enough to have seen the last one who still claim that houe prices always always go up) they will probably have forgotten that I was saying it would happen.

Likely as not, the twits will start saying it that they predicted this all along. So I don't look forward to being proved right.

Call me cynical, pessimistic or whatever but I don't think that great day of 'I told you so' will ever come.

But I don't care, as long as the day when I can buy a reasonably priced home does come along.

I will probably have all these present-day-property-bulls round for a house warming where they will tell each other that they knew it was coming all along or that they blame the banks for lending them too much money and something should have been done about it.

Whatever. Once I have my own place I really won't care what they talk about.

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More affordable housing is more important, more so after learning that my landlord is thinking of selling up so six months after moving in I might be on the move again. That'll make five times in six years.

Part of me though just wants to see something so big come crashing down, a morbid fascination if you will.

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I'm not bothered about being proven right, I just want to be able to afford a house. I'd be as happy if house prices stayed the same and my wage went up by the required 135% as I would be if house prices crashed.

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Being proved right, definitely. Better than sex. Well, almost...

Sex is overrated. Roll on the crash! tongue.gif

I feel bad for your partners.

Ain't nothing better than sex. NOTHING I tell ya.

:lol::lol::D

Home Alone....Look for a landlord who has held the prorerity for years and years, they are in it for the long term, and less likly to sell.

Edited by Karen

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Ain't nothing better than sex. NOTHING I tell ya.

But what type of sex are we talking about? I've heard that sex in an owned home is definitely better than sex in a rented home :lol:

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A little analogy: Knowledge is Power!

I am constantly being told to buy a house, houses go up etc etc (you get the drift), and was recently (a few weeks ago) told to buy in Bulgaria by my workmates as it was going up.

A lot of debate, me mentioning the risks, language, laws etc etc, and I basically ended up saying: "Well, if you think it is such a good idea put your money where your mouth is and GO AND BUY. I did, I bought Gold."

This kind of puzzled my workmates, as they know nothing of investing, and they all came to the conclusion that Gold would crash. No reason, it would!

This kind of sums up the people I work with! (Nothing lost there)

But my boss (the MD) heard me at the time, and I know he is into investing (through an FA I may add). And to start a conversation (a different day) I mentioned Gold was up, of which he proceeded to tell me it would crash...

My reply was simple, "there's a higher chance of sterling crashing! I'll take my chances!!!"

After thinking about this, it had nothing to do with Gold or investing. It was simply the fact that I had knowledge, and I had benefitted from it.

This sums of a lot of people I know. They don't care what you have done, or what you are going to do. All they really care about is have they done better than you!

That makes me want to be proved right, rather than just get affordable housing.

What goes around come around...

Edited by Jason

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I think its important that prices fall - not to prove me right, but because they need to!

At the moment the world has become a huge credit based economy, in fact savings are so unusual these days it seems most people don't want to bother. The only thing I have ever spent serious money (10K+) on in my life is rent and my education. When you earn above average, have deposit, and can only be shown around dodgy one bed flats you know something is horribly wrong. When you know professionals earning well above typical salaries who are in serious debts something is wrong. When you have friends who have mortgages nearly eight times their salaries then something is wrong...

But its not so much the house prices... Its the banks who have been willing to lend anyone any amount of money that have created this. Obviously sellers want to get the best price for their property (who wouldn't) but the relaxed lending regulations in the last ten years are what have allowed the market to really become silly... heard the one about the 110% and 125% mortgages? The self-certification fiasco? IO mortgages at ten times income ratios? The borrowing is the issue....

A HPC is going to be painful, recession at the scale possible could be an economic disaster for a gigantic number of people in many countries (US, Spain, Aus etc.) and could even mean many (myself included) could lose their jobs (so why would i like to be proven right?) but it NEEDS to happen, if not this year then next, if not that year then the one after etc..... essentially the borrowing spree must come to an end before it takes on any more momentum.

I honestly feel sorry for those who are going to get hit by this, it doesn't please me and if anything I get depressed by the sense of impending doom... it feels like being Marvin from the 'Hitch-hikers Guide'.

So with the potential that being right means friends being in negative equity, bankruptcy, insolvency, IVA's etc. I can't say I'm keen for it to happen. However all the statistical and historical evidence says a HPC coming and the only thing that says otherwise is wishfull thinking....

I know which one I think more likely :unsure:

Edited by pyewackitt

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  • 302 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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