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Xurbia

Your Own Property

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This is probably covering old ground but I want to know why people feel so desperate to get on the property ladder. It's not rational to buy any commodity that you cannot afford when the alternative, i.e. renting, is so much cheaper and flexible at the moment.

I understand that people, especially couples, want to 'nest' and we have natural proclivities, in this country anyway, to buy. This still doesn't explain the current gamble people are taking. If wage expectation was relative to the loan size it would make sense.

I know people who are buying in places where I don't walk in the daylight! They are condemning themselves to appalling long-term environments just to say they 'own' a squalid little box. Surely there comes a time when the huge sums involved and poor quality of the housing being bought triggers an alarm?

I've got absolutely no sympathy left for people wishing to dig these large financial holes for themselves. If people really are that stupid then **** them. We all pick the tab up in insurance premium hikes when these muppets go bankrupt. The financial institutions are complicit but they won't be picking up the consequence heartache, of that I have no doubt.

So I guess my question should be - Are all current FTBs short one sandwich short of a picnic?

Edited by Xurbia

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So I guess my question should be - Are all current FTBs short one sandwich short of a picnic?

No. Not all of them.

It is a generalisation, and I hate making generalisations, byt my guess is that it is the older ones (in their late twenties/early thirties) who are the smarter cookies, and are asking serious questions about the housing market.

The younger ones are probably more susceptible to the spin put out not just by the VIs - but in many cases THEIR OWN PARENTS who have done well out of property this past 30 years and think that the next 30 years will be the same as the last for their children.

Which they won't be.

Personally I think that IF house prices don't drop by much nominally - I still they could be the same as they are now for the next 15 years. That is an absolutely rubbish investment for anyone.

Almost everything is now swinging against property and people such as the BTL brigade thickos are still blinded by past performance. More fool them.

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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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