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Not quite a nightmare but I woke up last night with the thought in my mind that I was living in a rabbit hutch with a £250,000 mortgage with 25 years left to pay.

I wanted to move to a nice house but could not afford anything other than another rabbit hutch. Even if I could I would have huge difficultly selling my hutch. It was awful.

And all that assumes there will be NO house price crash. :o

Then I remembered that I am free to do what I want. And that the bubble is poised to burst. It was truly a great feeling. :)

For those thinking of taking the plunge, don't be so stupid!

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Not quite a nightmare but I woke up last night with the thought in my mind that I was living in a rabbit hutch with a £250,000 mortgage with 25 years left to pay.

I wanted to move to a nice house but could not afford anything other than another rabbit hutch. Even if I could I would have huge difficultly selling my hutch. It was awful.

And all you could afford to eat was left over lettuce stolen from the neighbours actual Rabbit Hutch! :lol:

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Not quite a nightmare but I woke up last night with the thought in my mind that I was living in a rabbit hutch with a £250,000 mortgage with 25 years left to pay.

I wanted to move to a nice house but could not afford anything other than another rabbit hutch. Even if I could I would have huge difficultly selling my hutch. It was awful.

And all that assumes there will be NO house price crash. :o

Then I remembered that I am free to do what I want. And that the bubble is poised to burst. It was truly a great feeling. :)

For those thinking of taking the plunge, don't be so stupid!

One persons nightmare is another persons reality.

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Guest Cletus VanDamme

I've recently bought (having STR'd).

£320,000 mortgage for 15 years.

I sleep easy. I think we've made the right decision for us.

That's a stupendous sum! I take it that's the mortgage and not the purchase price. Still, if you can afford it, why not? Good luck.

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One persons nightmare is another persons reality.

I think my nightmare would have been listening to you lot for the past few years about how the market is about to crash and missing out on buying a house because of it.

How many people have STR in the past few years and are now bitterly regretting it?

This website just seems to provide a service to make people feel better about missing out on buying property over the last 5 years. I am sure the day will come where the FTB'ers shall inherit the earth but I wouldn't bet my house/standard of life on it.

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I am sure the day will come where the FTB'ers shall inherit the earth but I wouldn't bet my house/standard of life on it.

I ain't betting my standard of life by buying an overinflated priced asset!

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Guest Alright Jack

Not quite a nightmare but I woke up last night with the thought in my mind that I was living in a rabbit hutch with a £250,000 mortgage with 25 years left to pay.

I wanted to move to a nice house but could not afford anything other than another rabbit hutch. Even if I could I would have huge difficultly selling my hutch. It was awful.

And all that assumes there will be NO house price crash. :o

Then I remembered that I am free to do what I want. And that the bubble is poised to burst. It was truly a great feeling. :)

For those thinking of taking the plunge, don't be so stupid!

...Add to that (in the words of J.H.Kunstler) a living arrangement that has no future.

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That's a stupendous sum! I take it that's the mortgage and not the purchase price. Still, if you can afford it, why not? Good luck.

The repayments total about £400 a month more than the rent.

Much nicer, bigger house, in a lovely spot. Kids education sorted too.

£400 / month seems a decent cost for peace of mind.

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I ain't betting my standard of life by buying an overinflated priced asset!

Fair enough but it's not as if you woke up one day and houses cost twice as much as they did yesterday. You could have bought any time in the last 5 years but most people on here didn't because of the belief that prices must fall. People on here post lots of news stories about how one estate agent closed or how the stock exchange fell 2% and add posts along the lines of "Crash imminent!!!"

I actually found myself falling for it because deep down I wanted to believe it. Rather than do something about the situation I was in I wanted external influences to make everything all right for me.

Maybe prices will fall but just maybe they will continue to increase to a point where you can't even afford an overinflated priced asset." The housing market has continued to ignore every other economic pointer so why shouldn't it continue.

I don't think house price increases are necessarily a good thing but it's better to be on the train p!ssing out, than on the station trying to p!ss in.

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Fair enough but it's not as if you woke up one day and houses cost twice as much as they did yesterday. You could have bought any time in the last 5 years but most people on here didn't because of the belief that prices must fall. People on here post lots of news stories about how one estate agent closed or how the stock exchange fell 2% and add posts along the lines of "Crash imminent!!!"

I actually found myself falling for it because deep down I wanted to believe it. Rather than do something about the situation I was in I wanted external influences to make everything all right for me.

Maybe prices will fall but just maybe they will continue to increase to a point where you can't even afford an overinflated priced asset." The housing market has continued to ignore every other economic pointer so why shouldn't it continue.

I don't think house price increases are necessarily a good thing but it's better to be on the train p!ssing out, than on the station trying to p!ss in.

With prices as high as they are, it's really a gamble either way. So you have to halance what you think is likely to happen and also what is the downside if you're wrong.

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Guest Cletus VanDamme

£400 / month seems a decent cost for peace of mind.

Got to agree with you there. Enjoy!

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With prices as high as they are, it's really a gamble either way. So you have to halance what you think is likely to happen and also what is the downside if you're wrong.

Absolutely spot on! I don't know what's going to happen and I certainly wouldn't advise people either way. The poster who started this thread should be ashamed that he is trying to force his beliefs onto others. I am sure there are a lot of people who held off buying or even STR because of opinions on this site and are now a lot worse off because of it.

I personally would rather own a house, even if prices fall rather than be prices out entirely. I can live with prices going down but I can't live with never being able to afford a house.

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I have to say my mental health has been better for not having to worry about mortgages. I have free to focus on my career and extra-curricular activities.

Having a decent job is a better predictor of my (as yet non-existant) children's happiness than a very expensive/overpriced flat/house.

And no, I couldn't have bought 5 years ago.

I personally would rather own a house, even if prices fall rather than be prices out entirely. I can live with prices going down but I can't live with never being able to afford a house.

Italics my own. Wow.

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Absolutely spot on! I don't know what's going to happen and I certainly wouldn't advise people either way. The poster who started this thread should be ashamed that he is trying to force his beliefs onto others. I am sure there are a lot of people who held off buying or even STR because of opinions on this site and are now a lot worse off because of it.

I personally would rather own a house, even if prices fall rather than be prices out entirely. I can live with prices going down but I can't live with never being able to afford a house.

Doesnt a lot depend on whether you can stand dodgy landlords and not having a place of your own to call home? Starting a family means having to put down roots.

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Italics my own. Wow.

Luckily I bought a house nearly 6 years ago when everyone was telling me prices had to fall. We wanted a place of our own rather than renting so we went ahead anyway. We sold 2 weeks ago for almost double what we paid for it and had an offer accepted on a much bigger house. Now I am not stupid enough to believe this is money I have earnt, all it means is that we are able to buy a house that would be impossible for us to buy now.

If this website had existed in 2000 I am sure there would have been people posting the same sort of stuff they are posting today. I may well have believed it and put off buying because of the inevitable crash. I would be absolutely gutted now, knowing I had missed out on owning a house when I had the chance.

Thank god I didn't listen to my friends who are STILL renting a room in a shared house moaning about house prices and how they have to fall.

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Luckily I bought a house nearly 6 years ago when everyone was telling me prices had to fall. We wanted a place of our own rather than renting so we went ahead anyway. We sold 2 weeks ago for almost double what we paid for it and had an offer accepted on a much bigger house. Now I am not stupid enough to believe this is money I have earnt, all it means is that we are able to buy a house that would be impossible for us to buy now.

If this website had existed in 2000 I am sure there would have been people posting the same sort of stuff they are posting today. I may well have believed it and put off buying because of the inevitable crash. I would be absolutely gutted now, knowing I had missed out on owning a house when I had the chance.

Thank god I didn't listen to my friends who are STILL renting a room in a shared house moaning about house prices and how they have to fall.

I don't have the figures for 2000, but property was clearly affordable then in many parts of the country. Just as now there are idiots saying "fill your boots", I have no doubt that there were idiots in 2000 who argued that proeprty was outrageously expensive. In 2000 personal debt was much less than it is now, with IRs not much higher.

Good for you for buying at a sensible time. Your decision to buy then doesn't make our decision not to buy now incorrect.

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Good for you for buying at a sensible time. Your decision to buy then doesn't make our decision not to buy now incorrect.

But the point I am trying to make is that people have ALWAYS said prices are about to crash. Even on this website it's not a new thing, people have been trying to convince themselves it's been imminent for years.

Your decision not to buy is correct if prices fall but what if they don't. Thats fine if you are single and don't mind where you live but once you are married and have kids your priorities in life change somewhat.

We have actually taken a gamble on moving to a bigger house because we want to have kids. We first looked at moving 2 years ago and the jump would have been pretty afordable. Due to various reasons we never got around to it and I was shocked by how much the gap had increased by in those two years. I started reading this website and thought that staying put would be OK because prices have to come down and the gap between our property and the one we want to buy would decrease. I actually became pretty addicted to this site and read with glee every report that added weight to the fact that prices must fall.

Luckily we realised this was more of a gamble because if prices increased much more we could never afford to move to a bigger hosue anyway.

All I am is saying is sometimes it is better to bite the bullet and buy rather than wait in the hope prices will fall. I am not saying buy a 1 bedroom flat next to a crack house just to get on the property ladder, but if you are able to buy and are choosing not to because you might get the house cheaper then you MIGHT be taking a bigger gamble than buying.

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But the point I am trying to make is that people have ALWAYS said prices are about to crash. Even on this website it's not a new thing, people have been trying to convince themselves it's been imminent for years.

Your decision not to buy is correct if prices fall but what if they don't. Thats fine if you are single and don't mind where you live but once you are married and have kids your priorities in life change somewhat.

We have actually taken a gamble on moving to a bigger house because we want to have kids. We first looked at moving 2 years ago and the jump would have been pretty afordable. Due to various reasons we never got around to it and I was shocked by how much the gap had increased by in those two years. I started reading this website and thought that staying put would be OK because prices have to come down and the gap between our property and the one we want to buy would decrease. I actually became pretty addicted to this site and read with glee every report that added weight to the fact that prices must fall.

Luckily we realised this was more of a gamble because if prices increased much more we could never afford to move to a bigger hosue anyway.

All I am is saying is sometimes it is better to bite the bullet and buy rather than wait in the hope prices will fall. I am not saying buy a 1 bedroom flat next to a crack house just to get on the property ladder, but if you are able to buy and are choosing not to because you might get the house cheaper then you MIGHT be taking a bigger gamble than buying.

My grandfather said in the fifties that house prices were too high. He rented all his life. Had bugger all money when he died. Enjoyed his life though - didn't seem to have been too disasterous a decision.

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All fair comments. We must all live with our decisions. My decision has been to wait, clear my uni debts and save. Timing is everything, and now is'nt the time (for me).

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I don't think house price increases are necessarily a good thing but it's better to be on the train p!ssing out, than on the station trying to p!ss in.

What an interesting way to put it.

FWIW I don't think HPC came into being until 2002/2003 so there's a

limit on how many lives they've managed to ruin in that time.

IIRC at the start it was about predicting the turning point, I remember

people would say. We'll know when the crash is here because it will

be in every newspaper.

How wrong that was in retrospect, this is a bubble like no other,

a new paradigm. It would seem the more bearish and ******ed things

look the harder the papers push the bull argument.

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Guest xeouialp

If house prices fall, I'm not expecting houses to become any more affordable. I can't see a fall in house prices happening without a rise in interest rates, which would mean paying the same as I would be now, but for a lower capital sum. The upside would be that if I buy at the bottom of the market I minimise my risk of negative equity and I'm at a low starting point to take advantage of the next upturn in the price cycle. However, I've already mentioned at least three unpredictable variables. I'd better stop there.

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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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