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Fancypants

My Mum Is An Hpc Convert!

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after I planted the seeds with my arguments, she was initially resistant, being of a generation who have done very well through HPI.

However, now viewing things through the prism of cynicism, she is finding evidence that not all is well.

For starters, houses up the lane she lives on (generally valued around the £400k mark) aren't shifting after months/years on the market. And her friends (who work for a builder) have described how new detached properties are all getting snapped up quickly - but are coming back onto the market equally quickly, and not finding re-sale buyers.

She described it to me thus "I think you are right, people are having no problem borrowing the money, but they can't afford to pay it back"

:)

her advice to me: keep renting. One step ahead of ya, ma B)

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Guest Charlie The Tramp

but they can't afford to pay it back"

Here endeth the lesson. :)

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Is she a HPC addict yet?

Hi Fancypants mum!

Cheers Jase, I shall pass on my regards when I see her next. She doesn't really like the internet that much, and I suspect that some of the debating on here might be a touch "robust" for her, so I choose to be discreet about my own addiction.

largely unconnected anecdotal: My girlfriend was out last night and was talking to one of her ex-colleagues who owns a mortgage in Hendon c£900+/month - and has owned for roughly one year. He is selling up as he can no longer afford it, no real change in circumstances, just sick of having zero spare cash for anything at all.

He reckons he will be up by £30k (which I suspect to be optimistic, I assume this is the upper valuation with no regard to all the transaction costs). Even if it were true, it is interesting that he is choosing to get out of something that has made him £30,000 in one year.

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after I planted the seeds with my arguments, she was initially resistant, being of a generation who have done very well through HPI.

However, now viewing things through the prism of cynicism, she is finding evidence that not all is well.

For starters, houses up the lane she lives on (generally valued around the £400k mark) aren't shifting after months/years on the market. And her friends (who work for a builder) have described how new detached properties are all getting snapped up quickly - but are coming back onto the market equally quickly, and not finding re-sale buyers.

She described it to me thus "I think you are right, people are having no problem borrowing the money, but they can't afford to pay it back"

:)

her advice to me: keep renting. One step ahead of ya, ma B)

I was just going through some anecdotals and came across this one.

Questions:

1yr on, have prices increased in your area?

What area are you in?

In hindsight are you glad you held out or do you wish you bought a year ago?

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He reckons he will be up by £30k (which I suspect to be optimistic, I assume this is the upper valuation with no regard to all the transaction costs). Even if it were true, it is interesting that he is choosing to get out of something that has made him £30,000 in one year.

Elusive paper gains that he wants to get his mitts on. Ah - ha!

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  • 336 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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