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Oh no my boy, i play hard ball. Always Walk away if you dont get the deal you want.  We sold a 2 bed Semi, and rented a 3 bed detatched. Rent was £800 pcm, about £100 more than my old mortgage, when we sold IR where rising in 2007, crash hadn't happened. 

Then  i bought Gold, shot up, cash savings, decent IR 5% , and stalked local newbuilds from big national builders. Ended up buying a 5 bed terraced house for £230k (only 2.3k Stamp duty) offered December 2008, completed March 2009.  We also offered on the same style of house elsewhere on the estate in Easter 2008, they wanted £290k, i walked away, saying "i will buy it cheaper within 6 months." 

Now this estate was big and started in 2006. The highest price paid for my style of house in 2006, £330k.  I paid £230k in 2009.  Sold it in 2016 , £350k. just before the Brexit vote, bought in August after the brexit vote, dead market, got a £545k house for £501k.  This adventure started in 1996, with a £55k house that was the one sold in 2007 for £194k, to go STR.

Like i say, you make your own luck.  

It is just that though - luck. The market is spectrum of people who have won big while others have lost. There’s little rhyme or reason.

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Did you ever buy?

Nope...however I have owned in the pat and never really liked it much; but that was in the early 90's.

As for the noughties and the teenies, my lack of house ownership allowed my life to take some interesting turns that would not of happened had I been bogged down in mortgage debt. Its no bad thing to be footloose and free, it makes you braver and less risk averse; hence it has the potential to increase your earning potential over the rest of your lives..and thats what happened to me. I would not have missed the last 20 years for anything!

Now all please pay attention:-YOU DO NOT HAVE TO OWN THE ROOF OVER YOUR HEAD.

House prices are just one facet of your lives and if they are not right for you to buy...dont buy. Get on with your lives. Adapt, Improvise and Overcome.

If you have your health, money in the bank, a roof over your head and that special person to come home to, then life is good. One day you will look back on such times with fondness.

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It is just that though - luck. The market is spectrum of people who have won big while others have lost. There’s little rhyme or reason.

Shares follow 80, 20 fairly well... As in 20% of the people get 80% of the gain. 

Luck or not it's interesting 

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Nope...however I have owned in the pat and never really liked it much; but that was in the early 90's.

As for the noughties and the teenies, my lack of house ownership allowed my life to take some interesting turns that would not of happened had I been bogged down in mortgage debt. Its no bad thing to be footloose and free, it makes you braver and less risk averse; hence it has the potential to increase your earning potential over the rest of your lives..and thats what happened to me. I would not have missed the last 20 years for anything!

Now all please pay attention:-YOU DO NOT HAVE TO OWN THE ROOF OVER YOUR HEAD.

House prices are just one facet of your lives and if they are not right for you to buy...dont buy. Get on with your lives. Adapt, Improvise and Overcome.

If you have your health, money in the bank, a roof over your head and that special person to come home to, then life is good. One day you will look back on such times with fondness.

Good answer, it is only one part of the equation of life, but you do need to get it right, i can relate to being free so you have an advantage their

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It is just that though - luck. The market is spectrum of people who have won big while others have lost. There’s little rhyme or reason.

What do you mean luck, i knew in 2007 everything was overpriced and the market would crash, and it did in Q4 2008. Everyone in 2007 said i was crazy, the market would run away from me. When they came to see the new house in 2009, i was "so clever". It was obvious. We had a baby in a 2 bed semi and to buy our own house on a 95% mortgage for what we sold it for, £194k, we couldn't afford the £184k mortgage, let alone have the £10k you would need for the deposit. 

That was it for me, prices had to drop, and they did.  Buying a 5 bed with a £130k mortgage in Q1 2009 was much more palatable. 

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Shares follow 80, 20 fairly well... As in 20% of the people get 80% of the gain. 

Luck or not it's interesting 

We missed out on this particular flat that went for 65k in 2006. By late 2007 they were selling for 95k. We bought ours for 84k in 2008 and felt relatively content as prices had slumped a little. Around 2010 one or two sold for 50k which was a shock to the system!

We sold ours for 75k in 2013 (having spent 10k on it) and then watched them miraculously climb back up in value year after year. 

Our old flat sold for 85k.... then 95k.... then 110k!!!!!

It really didn’t make any sense!

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We missed out on this particular flat that went for 65k in 2006. By late 2007 they were selling for 95k. We bought ours for 84k in 2008 and felt relatively content as prices had slumped a little. Around 2010 one or two sold for 50k which was a shock to the system!

We sold ours for 75k in 2013 (having spent 10k on it) and then watched them miraculously climb back up in value year after year. 

Our old flat sold for 85k.... then 95k.... then 110k!!!!!

It really didn’t make any sense!

Do you own a flat/house now?

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What do you mean luck, i knew in 2007 everything was overpriced and the market would crash, and it did in Q4 2008. Everyone in 2007 said i was crazy, the market would run away from me. When they came to see the new house in 2009, i was "so clever". It was obvious. We had a baby in a 2 bed semi and to buy our own house on a 95% mortgage for what we sold it for, £194k, we couldn't afford the £184k mortgage, let alone have the £10k you would need for the deposit. 

That was it for me, prices had to drop, and they did.  Buying a 5 bed with a £130k mortgage in Q1 2009 was much more palatable. 

It’s lucky because you didn’t ‘know’ there would be a crash.... you were just one of millions of people, no different to today, who thought it could happen. 
 

2020 is evidence there’s no method to the madness of property prices. 

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Do you own a flat/house now?

We cut our losses in 2013 and bought a bigger family home needing a complete overhaul. It’s gone up by 30% but to fair a lot of that is just what we invested in the renovation. We have probably ‘made’ 20k in profit after our costs. 

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It’s lucky because you didn’t ‘know’ there would be a crash.... you were just one of millions of people, no different to today, who thought it could happen. 
 

2020 is evidence there’s no method to the madness of property prices. 

If combined Brexshit and Covid cannot crash the market then you have to say the house prices are bullet-proof with all the governments props.

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It’s lucky because you didn’t ‘know’ there would be a crash.... you were just one of millions of people, no different to today, who thought it could happen. 
 

2020 is evidence there’s no method to the madness of property prices. 

You are calling luck with QE , zero interest rates, money printing hindsight of 2009-2020.  This had never ever happened in history in 2007, those pages were still to be written.  We could have bought a decent 3 bed straight away in 2007 as we had a six figure deposit, not a problem. I chose to put us in STR because "I KNEW", if we cant afford our own house as a pretty ok earning couple (I had an BMW 320D SE as a company car FFS) , then as a median top 25% earners for our age, then 75% of other couples had no chance. Prices had to drop.

Everything was toppy. You know who bought it? The Single girl next door who lived in her Dads BTL, who was a company director of her dads refridgeration company, had a 2003 Lotus Elsie in her Garage, and a brand new Clio as her company car. 

She brought our house, then her younger brother moved into her dads BTL nest door, so the "controled" the shared 3 car driveway. I sold the hose to a family with money, who earned so much from work with supermarkets they didnt care. 

I had it up for £195k, and knocked £1k off as i didnt have to use estate agents, and they were happy with this, we verbally agreed the deal on the driveway one summers evening when i mentioned to her i was selling soon. They wanted it badly. 

Advantage Sales Manager MarkyH. 

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There will always be people with the appetite for risk, playing hardball, cutting deals, and for taking on that risk there has to be a commensurate reward.  So markyh can die a Bitcoin millionaire, fair play, nothing necessarily to resent.  And there will always be that element of luck and good timing in all human affairs, that may sometimes be divorced from skill and desert.

What does create a situation of despair is the increasing financialisation of everybody's lives, to the degree that if you aren't spending hours upon hours researching funds, pursuing crypto strategies, trading gold or flipping houses then you will grow poorer year on year through inflation.  That is what keeps me up at night, not the lack of my name on a mortgage but the fear that I could spend my life working, paying my own way, stashing money away and still ultimately retire into poverty because I may not have taken on the right amount of debt at the right time or taken advantage of the right government bribe.

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I think a big issue is that if I give up on the housing market, NOBODY gives a toss. I have no influence, no say. Houses will continue to be too expensive. So my decision to ignore it makes 0 difference. But all the time it is affecting day to day realities. Principally paying someone else's mortgage.

Hey, none of us on here are poor compared with billions of others in this world. But are we happy? Is housing creating cohesive, inclusive, FUN communities? Not while ££££ remains the principal symbol by which a roof and walls is judged. Any community happens despite housing policy.

I was looking at these forums 3-4 years ago when I was looking to buy my first home. It was very depressing to see all indication of a market that should fall but outside influences just kept it going. In 2018 I decided that the GOV will do what it can to keep it running so I decided to buy my first home and get out of renting. I can honestly say as soon as I did it, I instantly become happier as I was no longer throwing money away renting and I stopping worrying about house prices. It hit me after that worrying about house prices and waiting for a fall was the thing that was making me feel depressed and felt held back. Plus the saving over the rent money I was losing each month was a bonus.

Each to their own, but buying completely changed my prospective and on listening to people on the internet rather than going with my own gut.

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There will always be people with the appetite for risk, playing hardball, cutting deals, and for taking on that risk there has to be a commensurate reward.  So markyh can die a Bitcoin millionaire, fair play, nothing necessarily to resent.  And there will always be that element of luck and good timing in all human affairs, that may sometimes be divorced from skill and desert.

What does create a situation of despair is the increasing financialisation of everybody's lives, to the degree that if you aren't spending hours upon hours researching funds, pursuing crypto strategies, trading gold or flipping houses then you will grow poorer year on year through inflation.  That is what keeps me up at night, not the lack of my name on a mortgage but the fear that I could spend my life working, paying my own way, stashing money away and still ultimately retire into poverty because I may not have taken on the right amount of debt at the right time or taken advantage of the right government bribe.

Its because you have miss priced the risk. 

Many on here see prices falling as soon as they buy as the biggest risk. 

Over time prices rising while you hold cash has been much more destructive to wealth and therefore more risky. 

 

If prices fell 30% tommorow in 10 years I'd bet anything you would get your money back in real terms.. 

You hold cash for 10 years I'd bet anything you will have less. 

 

 

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We cut our losses in 2013 and bought a bigger family home needing a complete overhaul. It’s gone up by 30% but to fair a lot of that is just what we invested in the renovation. We have probably ‘made’ 20k in profit after our costs. 

You bought a home, so it does not matter if the value goes up or down.

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The CV19 crisis has brought everything to a head.

We can all see clearly what the establishment are about.

Everyone screams house prices to fall 15%, bankers/government lower IRs, steal £900Bn and push them up 10%.

People losing their jobs, they keep them in houses they could never afford long term.

Prices falling, lower rates more QE. I fully expect them to pay idiots to borrow to buy their houses off them soon enough.

Helicopter money for the masses so they can pay the bankers.

Savings rates 0.

Mass totalitarian control.

Mass propaganda.

if people haven't understood what is going on then let me spell it out.

The government and bankers will not stop down this path regardless of what destruction it brings to the people, the currency and the country.

IIRC Boris Johnson said in a mansion house speech ( or similar) that he knew house prices were insane but they couldn't let them  fall.  This was several years ago now, maybe 4.

So I am giving in, that's it for me, We are renting for the rest of out life, it is cheaper than buying, no hassle if you get a good land lord, flexible, can invest sensibly for the establishments new world/green deal and make a plan for the future.

Buying a house is a road to misery now that much is clear.  massive debt, massive control, little future.

If you're not on the pyramid then forget it, even if you are chances are you can't afford to move up the pyramid unless your moving from a rich area to a poorer one.

I think this post sums it up well....

 

Trump Invective

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Joke. Housing in this country is a sick joke. I look at those i know with a nice house and think "yeah, I'd like a bit of that". Then I discover how much they paid! I just want it all to go away. Ignore housing as one would a troll, if one can. Mental health is more important. Leave the market to it. Fill life with something else.

 

The government have broken me so I am giving up. 

It's having a bad negative effect on peoples minds and their health, mine too.

I'll come back if anything changes, but it wont.

Bye

 

Didn’t you sell your house in 2007?

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You bought a home, so it does not matter if the value goes up or down.

One of the few things that you actually use to its full capacity which, over time, increases in value rather than reducing in value.  Worth factoring in that mortgages nearly always do down and rent nearly always goes up (something to bear in mind when  you are drawing your pension I would suggest).

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You bought a home, so it does not matter if the value goes up or down.

Nope, except if it prices drop and take you into N/E or you want to downsize, then falling prices are an issue. If you want to trade up falling prices are good, as a % the house you want to buy gets cheaper in ££££ . 

Obviously the best is a successful STR, 1year to 18 months and buy back in cheaper. But you need to be right. And they changed the rules after 2008. 

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There will always be people with the appetite for risk, playing hardball, cutting deals, and for taking on that risk there has to be a commensurate reward.  So markyh can die a Bitcoin millionaire, fair play,

Wait What? you have a crystal ball or read tea leafs?  Hope i die older than my Nan then? (She was 93)

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If combined Brexshit and Covid cannot crash the market then you have to say the house prices are bullet-proof with all the governments props.

I have to say it is bizarre.

Interest rates are everything perhaps. Maybe people are scared they will go up? Perhaps they will fall when they do.

It could also be that they are actually relatively low now. That famous graph on teh front page would suggest so.

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I have to say it is bizarre.

Interest rates are everything perhaps. Maybe people are scared they will go up? Perhaps they will fall when they do.

It could also be that they are actually relatively low now. That famous graph on teh front page would suggest so.

I seem to remember that about 80% of mortgage searches are for fixed rates and so changes in rates are not likely to have too much immediate impact upon the average HO.

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So basically he never had any interest in allowing people to own an affordable home. Was just wanting to use a house as a vehicle to enrich himself. Knowing that, does anyone else respect the views and opinions of this person? He's actually no better than a BTLer, difference being he is financially illiterate and is a crap trader.

You still make 20% on shares - lol!

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The fact is the OP is a bitter salty soul. He isn't angry at BTLers, nor does he have any real interest in affordable houses. He's angry at himself as he knows he's completely useless at trading markets. He's the perfect definition of inadequate.

He's jealous that other people have made a lot of money, whilst over the same time period, he's become poorer, and still doesn't have a house. He's now in a position where he will never be able to buy.

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  • 441 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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