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music man

Big Hpc 20%+

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What will the consequences for you be if there is a significant correction in the housing market? What choices will you have if you hold out for the right time?

Me: happy buying a family home in Norfolk with a minimal mortgage. One that will give me freedom and mean I'm not owned by the you know who's.

If it goes pear shaped then I'll be off to hotter climates with my deposit and no debt.

Can I repeat that - No Debt, nada, zippo.

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I don't think 20% is a significant - i'd say 40% is..

Anyway, if either happened i would pop in on a few people and say i told you so. Then i'd continue to look into emigrating as the mood of the country except for HPC'ers would be pretty glum!

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Problem is that's just not enough in this Brave...sorry Blair New World. Don't build up something substantial on the side whilst working and come retirement they will have you good and proper, we all know it. If you don't risk anything you just end up with what you have got. For those not wanting to rely on pensions and annuties BTL is a viable route.

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I would be able get on the ladder - to afford the sort of modest 2-bed semi I would like (currently circa £150k in my area) for significantly less money, let's say £124,950 and not pay stamp duty. Hurrah!!

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If i bought now then i could have this crock of absolute w*nk for a substantial part of my life

This 1 bedroom *thing*, i call it a thing because it has been glued onto an established terrace block, it looks even more riduclous in real life

http://www.rightmove.co.uk/viewdetails-650...pa_n=1&tr_t=buy

Or with 20% off i could have

Room Descriptions

Porch

Entrance Hall

Lounge/Diner 21'6 x 9'5

Kitchen 11' x 8'2

Landing

Bedroom 1 11'10 x 9'9

Bedroom 2 13'8 narrowing to 11'8 x 7'10

Bedroom 3 13' x 6'8

Bathroom

Outside

Garage 18'7 x 7'9

Front Garden

Rear Garden 29' x 22'

http://www.rightmove.co.uk/viewdetails-641...pa_n=2&tr_t=buy

Of course in a years time with 20% off and the money im putting away i could have this semi

3 Bedrooms

10"0x9"9

10"9max x 8"8

10"10x6"6

2 Receptions

12"1x11"11

15"10x7"8

Kitchen 15"5x7"10

http://www.vebra.com/home/search/vdetails....15&pid=10393814

Its a no brainer as far as im concerned.

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If i bought now then i could have this crock of absolute w*nk for a substantial part of my life

This 1 bedroom *thing*, i call it a thing because it has been glued onto an established terrace block, it looks even more riduclous in real life

http://www.rightmove.co.uk/viewdetails-650...pa_n=1&tr_t=buy

Or with 20% off i could have

They say it's a one bedroom, but then they say the main bedroom is on the first foor & what would be on the second floor? What am I missing?

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To be honest, and some people will shout me down, but I don't see a crash/recession a bad thing for most people in the long run. Ok, people who have taken on too much debt will suffer - but that's their fault!

I think the quality of life will improve, where people value money, value time, value friendship. How many times have I been out with my friends and conversations revert to who is better, richer, has the latest gizmo, the biggest credit limit, has the best house etc etc. Their is too much consumerism around!

To answer your question, a 20% fall would be a good thing for me.

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They say it's a one bedroom, but then they say the main bedroom is on the first foor & what would be on the second floor? What am I missing?

They are doing ground floor and first floor :)

Some people might look at it and wonder why im so agaisnt it for 114K but i know the area very well, i know the road very well, i know that that house has just been built in someones side garden.

"easy to maintain garden" well yea its a couple of concrete slabs. :lol: If it was up for 70K i would think it was pricey, 114K and i think who ever buys it at that price really deserves being able to smell their own crap in ever part of the house whenever they have a dump.

Edited by theChuz

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To be honest, and some people will shout me down, but I don't see a crash/recession a bad thing for most people in the long run. Ok, people who have taken on too much debt will suffer - but that's their fault!

To answer your question, a 20% fall would be a good thing for me.

agreed - a house prie crash would be good for most, although they probably wouldnt understand that at the moment

i would like to buy a nice 2 bed house w a garage and bit of garden - at the moment that's abbout £200k - 5 years ago about £110k - if i could get one for £150k that would do me and i could still have a life doing other stuff

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Guest Riser

agreed - a house prie crash would be good for most, although they probably wouldnt understand that at the moment

i would like to buy a nice 2 bed house w a garage and bit of garden - at the moment that's abbout £200k - 5 years ago about £110k - if i could get one for £150k that would do me and i could still have a life doing other stuff

House prices have become totally disconnected from the underlying of land and building costs, if you have ever looked at the rebuild costs quoted on insurance they are typically 30% of the current market value.

If you are watching Grand Designs just look at what tey have built for £500k puts a 2 bed appartment in London in perspective doesn't it.

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We live in a must have (Now) society brought on by the Labour (Clinton) Marketing a.k.a. Public Relations team.

They say what the public desires to win votes (No Taxes) and suffer in the process by giving into the emotions that drive big business.

There has to be huge debt under this psychology and then we remember pensions, health care and social services - all of which are suffering. It's now pay back time and I hope my life wil start when the country tightens it's belt and looks after the people, All of them.

I'm a 20% man - any more and fantastic. 4% Norfolk Jan 2006 YoY and it'll no doubt be something similar next year or maybe more.

It's a shame I can't buy now but it's so sensible to save, buy later and have less debt for 25 years, or maybe only 15.

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A 20% crash means I'd only have to borrow five times my salary :rolleyes: Historically the market has corrected to three times the average salary before heading upwards again. It's currently more than six times, so I'm expecting 40% or so with some wage inflation thrown in to complete the equilibrium.

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A 20% crash means I'd only have to borrow five times my salary :rolleyes: Historically the market has corrected to three times the average salary before heading upwards again. It's currently more than six times, so I'm expecting 40% or so with some wage inflation thrown in to complete the equilibrium.

This is true - and also means a bigggie for the coming months and years - remember I'm in Norfolk and apparently ahead of you all at -4% unfiddled Halifax data (and non inflation) adjusted.

I will settle for 20% and be really happy when more comes.

I'm actually setting a bench mark of 3.5 ave salary for the area and assuming a generous £20K.

So when there are a bunch of £70K houses around the time is right.

Good shout 'Bloke'.

Edited by music man

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  • 301 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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