Sentiment turning on mumsnet

[Drifty]

 

Maybe I could make one of my famously rude offers....aka ‘the kidney punch’ before a friend would then wade in with 20% off the asking price. But only if it was already very competitively priced 😆😆😆

I'm surprised by how many comments are saying 10% off is a standard offer or 10% off is actually generous. 

[Confusion of VIs]

 

I'd rather have a two storey house that's mine than a three storey house sharing with strangers.

Back in the good old days of cheap houses, it used to almost the norm to need a lodger or two to help pay the mortgage. My first mortgage was 3.25 times earnings at .13.75% with rates and utility bills total house costs were about 80% of my post tax earnings. Having a lodger was a necessity 

[markyh]

 

Back in the good old days of cheap houses, it used to almost the norm to need a lodger or two to help pay the mortgage. My first mortgage was 3.25 times earnings at .13.75% with rates and utility bills total house costs were about 80% of my post tax earnings. Having a lodger was a necessity 

I'm pretty lucky to have just left home in my early 20's the year before 1992 and the ERM issue.  Buy the time we had had a ball and got fed up with renting a shared house of 3 lads, best mates, i decided to buy with my long term girlfriend after renting  with her alone in 1995-1996. We saved hard (for 1 year lol, ) for our £5k deposit, and bought in December 1996. 

Beck then , a mortgage on a 2 bed semi with 7% IR was cheaper pcm than rent on a 2 bed terraced house. 

Sometimes all you need is lucky timing in life. I do remember everyone older saying " dont buy, IR will double, the value will drop".  It went up in value 5% in 1997 and never stopped going up even when I sold it in 2007.  Happy Days.  And IR rates had dropped to 4% ish by 2007 too.

[spacedin]

 

I'm pretty lucky to have just left home in my early 20's the year before 1992 and the ERM issue.  Buy the time we had had a ball and got fed up with renting a shared house of 3 lads, best mates, i decided to buy with my long term girlfriend after renting  with her alone in 1995-1996. We saved hard (for 1 year lol, ) for our £5k deposit, and bought in December 1996. 

Beck then , a mortgage on a 2 bed semi with 7% IR was cheaper pcm than rent on a 2 bed terraced house. 

Sometimes all you need is lucky timing in life. I do remember everyone older saying " dont buy, IR will double, the value will drop".  It went up in value 5% in 1997 and never stopped going up even when I sold it in 2007.  Happy Days.  And IR rates had dropped to 4% ish by 2007 too.

It's bank of mum and dad that does my head in. 

I mean okay, I must sound a bit jealous as family problems led to my parents having to sell a medium sized hotel in the 80s which is worth about £1.3-1.5 million now. 

As a child you're not responsible for the actions of your parents but you kinda are in adulthood if you have no inheritence because of marriage break up or whatever. 

That's life basically, there's no such thing as a free lunch, but it's an argument for some kind of universal inheritence paid for out of general taxation, or maybe some sort of land value tax. 

[markyh]

 

That's life basically, there's no such thing as a free lunch, but it's an argument for maybe some sort of land value tax. 

It will never happen in the UK, why? Look how much land the Royal family and landed gentry would have to pay tax on. It would bankrupt them. Tax will always be on properties, not "Fields". 

[spacedin]

 

It will never happen in the UK, why? Look how much land the Royal family and landed gentry would have to pay tax on. It would bankrupt them. Tax will always be on properties, not "Fields". 

The Royals will get some exemption like they normally do. They're not even subject to FoI requests, something that was tightenend up even more recently. 

I watched the following documentary recently which includes a lot about the Duchy of Cornwall. Admittedly it's a little slanted but gives an insight into how shady things are. Charles treats the Duchy income like pocket change. 
 

 

Edited November 18, 2020 by spacedin

[Peter Hun]

The royal family gave up most of its property to the government (now called the Crown Estate) in exchange for a fixed income two hundred years ago.

[Longtermrenter]

 

The royal family gave up most of its property to the government (now called the Crown Estate) in exchange for a fixed income two hundred years ago.

Fixed?! It goes up all the time.

[Peter Hun]

 

Fixed?! It goes up all the time.

Fixed as in set, by the government.

 Fixed Income in finance is used to described fixed rate bonds 

[Mancunian284]

https://www.mumsnet.com/Talk/property/4088928-the-forlorn-buyers-sellers-club
 

This one is interesting.

[Pop321]

 

https://www.mumsnet.com/Talk/property/4088928-the-forlorn-buyers-sellers-club
 

This one is interesting.

I have started to see some decent prices (well I mean pre COVID prices) and sold houses coming back on. I think some people offered on houses because they feared in losing out and last the SDLT holiday (without doing the maths of course). As things begin to cool off and these buyers realise this market might not be racing away from them then perhaps they are taking the opportunity to reassess and wait a while until ‘more data is in’  

It’s early yet....but I don’t think it will take much for sentiment to change. Translating that into a house price crash is another matter but certainly I think there will be some better opportunities to buy next year than this year. 

[MonsieurCopperCrutch]

Anyone know if mumsnet have a thread on Sentiment turning on housepricecrash

[Mancunian284]

 

Anyone know if mumsnet have a thread on Sentiment turning on housepricecrash

We can always start one 😂.

[Wayward]

 

Anyone know if mumsnet have a thread on Sentiment turning on housepricecrash

There have been threads on Mumsnet about HPC...many of their posters write us off as sickos and sexist incels. Beyond comprehension. 

[msi]

 

There have been threads on Mumsnet about HPC...many of their posters write us off as sickos and sexist incels. Beyond comprehension. 

How dare they!  I've never taken a day off sick!

[Keith Wibble]

 

Just

I got married in Featherstone Castle.

[Keith Wibble]

 

I got married in Featherstone Castle.

Well, married in Hexham, reception at Featherstone.

[Mancunian284]

https://www.mumsnet.com/Talk/property/4096267-House-not-selling
 

No link unfortunately but worth a watch.

[mark hughes]

In the old days, not sure what kind of search engine he had, but Jonathan Davis would have been all over sites like this where an individual asks "Is now a good time to buy a house".

https://www.hotukdeals.com/deals/santander-5-year-fixed-mortgage-130-60-ltv-ps1249-booking-fee-free-valuation-legal-fees-at-santander-3610804#comments

He also liked to sidle up to people standing outside Estate Agent windows and whisper to them "Prices will be 50% less in a couple of months".

In these times of financial uncertainty, I think the Government ought to be making public pronouncements that, to safeguard your financial wellbeing for the next few years, you should consider tying in to one of these fantastic deals.

[winkie]

 

Back in the good old days of cheap houses, it used to almost the norm to need a lodger or two to help pay the mortgage. My first mortgage was 3.25 times earnings at .13.75% with rates and utility bills total house costs were about 80% of my post tax earnings. Having a lodger was a necessity 

I had a few lodgers all but one were friends that wanted to leave family home and were people grew up with, all in our 20s and had a whale of a time, one was good at cleaning, another good at cooking, one loved decorating.....went clubbing at the weekend, worked hard, played hard......young free and single......

[sammersmith]

 

https://www.mumsnet.com/Talk/property/4096267-House-not-selling
 

No link unfortunately but worth a watch.

I've had 2 viewings since it went up, early Oct and both have lovely feedback but actually weren't in a position to buy.

Why would anyone view a house to buy if they weren't in a position to buy? I'm answering my own question but i've noticed a lot of other viewers when i've been looking at somewhere seemed to only be there as a day out with the kids. Something to do that doesn't cost anything and they are particular nosey if they're local.

One time i was looking at a wreck and a (very) elderly couple turned up to view. They are clearly not going to be buying an uninhabitable renovation project when they're in their 80's. They were just being nosey, and actually had a go at me for taking pictures because: "it's not my house". 

[spyguy]

 

I've had 2 viewings since it went up, early Oct and both have lovely feedback but actually weren't in a position to buy.

Why would anyone view a house to buy if they weren't in a position to buy? I'm answering my own question but i've noticed a lot of other viewers when i've been looking at somewhere seemed to only be there as a day out with the kids. Something to do that doesn't cost anything and they are particular nosey if they're local.

One time i was looking at a wreck and a (very) elderly couple turned up to view. They are clearly not going to be buying an uninhabitable renovation project when they're in their 80's. They were just being nosey, and actually had a go at me for taking pictures because: "it's not my house". 

My mother.

Other women are similar.

Unless you are strict with the EA you'll end up with every nosey, house obsessed bint in the area sniffing around.

 

[spyguy]

 

I've had 2 viewings since it went up, early Oct and both have lovely feedback but actually weren't in a position to buy.

Why would anyone view a house to buy if they weren't in a position to buy? I'm answering my own question but i've noticed a lot of other viewers when i've been looking at somewhere seemed to only be there as a day out with the kids. Something to do that doesn't cost anything and they are particular nosey if they're local.

One time i was looking at a wreck and a (very) elderly couple turned up to view. They are clearly not going to be buying an uninhabitable renovation project when they're in their 80's. They were just being nosey, and actually had a go at me for taking pictures because: "it's not my house". 

I used to take my kids to Pets At Home - Daddys free zoo....

[simon2]

If anything I think sentiment has gone the other way to be more bullish. Seems to be very few threads about 'I can't sell my house' - you'll get those even in the good times.

A few months ago when the virus was worse I think there were more of these type of threads in MSE/Mumsnet, now there are very few. That may change if stamp duty breaks a lot of chains, but IMO most people will just pay up rather than let a transaction go.

At the moment I reckon there is an uneasy equlibrium of people who either can pay the prices, believe that prices will not fall, or absolutely need to move. I think in London I don't think there are enough of these people, that is why prices are on the slide for a few years. The rest of the country, who knows but as I see it some places are affordable enough.

The real funny threads is when someone posts a link and every man/woman and their dog comes out to make a comment on the decor.

[winkie]

When in relatively recent years property prices over time have always gone up greater than inflation and wages.....property is tangible, a necessity roof over all f our heads, been used more than ever as a store of value, growth not always income, sometimes both......when money held in a savings account pays zero, when saving growth is zero......no wonder land and property is something many use in a diverse portfolio over and above being used solely as a place to live, easy free  money........sitting ducks, hard to hide, easy commodity to collect much needed taxes from....slap on a second charge.