dog Posted February 7, 2006 Share Posted February 7, 2006 The hazards of property ownership And don't trust anyone who says 'trust me' (especially not the BBC) Quote Link to comment Share on other sites More sharing options...
look to the past Posted February 7, 2006 Share Posted February 7, 2006 What about don’t trust anyone on an Internet forum I’m a 16-year girl and would like to meet other young girls as friends Quote Link to comment Share on other sites More sharing options...
Guest Posted February 7, 2006 Share Posted February 7, 2006 Between 1999 and 2004, average house prices in the region have almost doubled, while average incomes have risen by only 15 per cent during the same period. Don't panic, we've having a SOFT LANDING. Quote Link to comment Share on other sites More sharing options...
cupidstunt Posted February 7, 2006 Share Posted February 7, 2006 What about don’t trust anyone on an Internet forum I’m a 16-year girl and would like to meet other young girls as friends ......and I've got some puppies I'm sure you'd like to see...... Quote Link to comment Share on other sites More sharing options...
red Posted February 7, 2006 Share Posted February 7, 2006 The hazards of property ownership And don't trust anyone who says 'trust me' (especially not the BBC) The sad thing is, many of these FTBs were too young to remember the last crash and are entering the market with 'houses only ever go up' firmly implanted in their brains. In the past few days I have heard younger people (25-30s) coming out with the classics: rent is dead money - I might as well buy now, If I don't get on the ladder now I'll never be able to, I've borrowed 40 grand from my parents...etc. For some people, the fate that awaits them is merely payback for their ignorance and failure to do their research. I doubt you'd see too much sympathy for a stock-market speculator who lost a bundle... Quote Link to comment Share on other sites More sharing options...
undersupply Posted February 7, 2006 Share Posted February 7, 2006 ......and I've got some puppies I'm sure you'd like to see...... OOh think i'll have the one with the red nose! Quote Link to comment Share on other sites More sharing options...
Time to raise the rents. Posted February 7, 2006 Share Posted February 7, 2006 What about don’t trust anyone on an Internet forum I’m a 16-year girl and would like to meet other young girls as friends Me too, here's my photo..... Quote Link to comment Share on other sites More sharing options...
CrashBear Posted February 7, 2006 Share Posted February 7, 2006 The sad thing is, many of these FTBs were too young to remember the last crash and are entering the market with 'houses only ever go up' firmly implanted in their brains. In the past few days I have heard younger people (25-30s) coming out with the classics: rent is dead money - I might as well buy now, If I don't get on the ladder now I'll never be able to, I've borrowed 40 grand from my parents...etc. For some people, the fate that awaits them is merely payback for their ignorance and failure to do their research. I doubt you'd see too much sympathy for a stock-market speculator who lost a bundle... yep most just don't believe a crash is possible, merely because they've never ever experienced one! Quote Link to comment Share on other sites More sharing options...
look to the past Posted February 7, 2006 Share Posted February 7, 2006 ......and I've got some puppies I'm sure you'd like to see...... Puppies you say – I don’t know if I should trust you Are you sure you’re not 35 years old bald and 18 stone? (the HPC average) All right – I’ll meet you as long as they’re Labradors – I just love their long ears Quote Link to comment Share on other sites More sharing options...
Bingley Bloke Posted February 7, 2006 Share Posted February 7, 2006 I try not to think about the housing market crashing. A fool and his overpriced house are soon parted Quote Link to comment Share on other sites More sharing options...
DonnieDarker Posted February 7, 2006 Share Posted February 7, 2006 The sad thing is, many of these FTBs were too young to remember the last crash and are entering the market with 'houses only ever go up' firmly implanted in their brains. In the past few days I have heard younger people (25-30s) coming out with the classics: rent is dead money - I might as well buy now, If I don't get on the ladder now I'll never be able to, I've borrowed 40 grand from my parents...etc. For some people, the fate that awaits them is merely payback for their ignorance and failure to do their research. I doubt you'd see too much sympathy for a stock-market speculator who lost a bundle... Listen it's taken me 2 years to realise that the house you buy to live in is not and should not be regarded as an investment/savings pot and that it is everything outside that (isas, shares, commodities, cash) that makes up your savings. I reckon a frighetningly high % of the population would consider their home to be their primary form of saving. Quote Link to comment Share on other sites More sharing options...
Guest Charlie The Tramp Posted February 7, 2006 Share Posted February 7, 2006 If I don't get on the ladder now I'll never be able to, I've borrowed 40 grand from my parents...etc. For some parents they can say goodbye to that money. First-time buyers 'borrowed £1.36bn from family and friends'FIRST-TIME buyers have collectively borrowed £1.36 billion from family and friends in the last two years to get a foot on the property ladder, a survey has revealed. But nearly a third of the 881,000 people who purchased their first property during that period admitted they had no intention of ever repaying the money, according to the poll by Sainsbury's Bank. Friends and family forked out an average of £1,552 on helping first-time buyers set up home, while more than 26,000 were loaned between £20,000 and £40,000 by generous relatives and pals, the survey found. Intention However, most first-time buyers are in no rush to repay their sizeable loans, with 31% admitting they had no intention of ever paying their friends or family back, the study showed. Another 28% believed it would take three years to repay the largely interest-free debt, with only 21% claiming they would cough up the money within the year. Quote Link to comment Share on other sites More sharing options...
red Posted February 7, 2006 Share Posted February 7, 2006 For some parents they can say goodbye to that money. absolutely right. But if my child came to me asking for money to buy a house right now, I'd refuse. Quote Link to comment Share on other sites More sharing options...
Londoner Posted February 7, 2006 Share Posted February 7, 2006 I'm hoping to buy in London where moderate rises/levelling off is predicted. I might be more cautious if I was looking elsewhere but then, at the end of the day, if you are a young couple hoping to start a family you will always want to own your house first and with the clock ticking, many people are simply not going to wait for years on end for a HPC. Factors like that override everything, IMHO. Quote Link to comment Share on other sites More sharing options...
Smell the Fear Posted February 7, 2006 Share Posted February 7, 2006 Are you sure you’re not 35 years old bald and 18 stone? (the HPC average) That explains why there are so many typos and mispelt words on this forum. The sausaghe finghers get un the way. Quote Link to comment Share on other sites More sharing options...
gasket37 Posted February 7, 2006 Share Posted February 7, 2006 That explains why there are so many typos and mispelt words on this forum. The sausaghe finghers get un the way. goddamn it , another new keyboard needed! Quote Link to comment Share on other sites More sharing options...
Mr Blek Posted February 7, 2006 Share Posted February 7, 2006 I'm hoping to buy in London where moderate rises/levelling off is predicted. I might be more cautious if I was looking elsewhere but then, at the end of the day, if you are a young couple hoping to start a family you will always want to own your house first and with the clock ticking, many people are simply not going to wait for years on end for a HPC. Factors like that override everything, IMHO. Why not rent? Spend the extra money on the kids and quality family life, wait tillthe prices come down and then buy. Quote Link to comment Share on other sites More sharing options...
miro2021 Posted February 7, 2006 Share Posted February 7, 2006 Listen it's taken me 2 years to realise that the house you buy to live in is not and should not be regarded as an investment/savings pot and that it is everything outside that (isas, shares, commodities, cash) that makes up your savings. I reckon a frighetningly high % of the population would consider their home to be their primary form of saving. Actually a house can be used as a very tax-efficient piggie bank. But only if you overpay on your capital-repayment loan and have a borrow back feature. Quote Link to comment Share on other sites More sharing options...
dog Posted February 7, 2006 Author Share Posted February 7, 2006 Why not rent? Spend the extra money on the kids and quality family life, wait tillthe prices come down and then buy. Is that really your picture? If so, I have some puppies that I would like you to look at as well. Quote Link to comment Share on other sites More sharing options...
Jason Posted February 7, 2006 Share Posted February 7, 2006 For some parents they can say goodbye to that money. My parents have done that for my sister. I think they may be saying goodbye. Quote Link to comment Share on other sites More sharing options...
ʎqɐqɹǝʞɐɥs Posted February 7, 2006 Share Posted February 7, 2006 What about don’t trust anyone on an Internet forum I’m a 16-year girl and would like to meet other young girls as friends can i see your puppies? Quote Link to comment Share on other sites More sharing options...
frugalista Posted February 7, 2006 Share Posted February 7, 2006 My parents have done that for my sister. I think they may be saying goodbye. I'd be interested to hear how you feel about that. Personally I will not take any money off my parents for a property as I would rather save it myself but I suspect that my parents may opt to "help out" one of my two younger siblings (not till after the crash if they have any sense). frugalista Quote Link to comment Share on other sites More sharing options...
Londoner Posted February 7, 2006 Share Posted February 7, 2006 Why not rent? Spend the extra money on the kids and quality family life, wait tillthe prices come down and then buy. There is no way I'm going to start a family in rented accomodation, knowing I would have to move at the whim of a landlord, which would be a major upheaval if I had young children/babies (schools, friends, upheaval, hassle). I don't want that sense of instability to raise a family in. Plus, there is no guarantee that prices will fall. I have been surfing websites like this for years and the so-called impending crash has been put back and back repeatedly. I am not waiting forever for something that may never happen. Plus, the difference between renting and the mortgage we have been offered is remarkable small (considering we are making the leap from a tiny flat to small house) Quote Link to comment Share on other sites More sharing options...
Jason Posted February 7, 2006 Share Posted February 7, 2006 I'd be interested to hear how you feel about that. Personally I will not take any money off my parents for a property as I would rather save it myself but I suspect that my parents may opt to "help out" one of my two younger siblings (not till after the crash if they have any sense). frugalista I'm not resentful about it. I'm glad for her. My parents did help me though uni of which I am very grateful (my sister didn't go to uni). But when she bought (2002) I wasn't interested in buying. My parents have offered the same to me, but turned it down. They know i'm bearish on house prices. They would want the money back when she sells, but I have explained if prices rise how could she? If prices fall, do you get your stake back? Or do you take some of the loss? (I was never around when they made the agreement). But I think it is screwed up that the young have to rely on their parents! So, i'm supposed to take away their retirement? That simply is not sustainable. If it's not sustainable, it won't be sustained! Quote Link to comment Share on other sites More sharing options...
frugalista Posted February 7, 2006 Share Posted February 7, 2006 There is no way I'm going to start a family in rented accomodation, knowing I would have to move at the whim of a landlord, which would be a major upheaval if I had young children/babies (schools, friends, upheaval, hassle). I don't want that sense of instability to raise a family in. Personally I don't see it as a problem per se. 60% of continental Europeans find renting acceptable. Presumably many of them have young families. I think the trick is to try and suss out your prospective landlord and figure out if they are likely to want to sell up while you are there. A new, amateur landlord is perhaps more likely to sell than an established long term landlord with many properties. Another trick is to negotiate longer leases, by offering the incentive of rent payments up front or whatever. I have never been turfed out by a landlord selling up. I've negotiated leases for longer than 18 months without any rent increases. I also negotiated a landlord installing a dishwasher and a new toilet. I also negotiated a lease where the landlord only keeps as a deposit my last month's rent. Everything is negotiable. Plus, there is no guarantee that prices will fall. I have been surfing websites like this for years and the so-called impending crash has been put back and back repeatedly. I am not waiting forever for something that may never happen. There is no guarantee that you will be able to maintain your income. There is no guarantee that you will be able to afford your mortgage over the next few years (unless you get a 10 year fix which few people do). There is no guarantee that you would be able to sell your house if you wanted to move. Nothing is guaranteed. You have to weigh it up for yourself. frugalista Quote Link to comment Share on other sites More sharing options...
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