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deano_54321

1% Increase Again! Im Giving It 12 Months....

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Hi All,

Another load of crap news that prices are up AGAIN in August. :angry:

I suppose the IR increase has not had time to set in yet. With at least another rate rise likely this year and with what is happening in the US, I think we are entering a "crunch" and deciding 12 months in the housing market. Personally, I think house prices will start to see a significant downturn in this time. I wouldn't have waited this long if a didnt think they would.

HOWEVER, I have been looking at this site since day one and the HPC has been delayed, and delayed........

If we dont start at least seeing the tide turning in our favour this time next year, I am going to buy.

Yes, house prices are ridiculous. But what if they do get worse? What if they do go up 100% in the next decade? Rent prices will be through the roof, mortgages will be through the roof (50 year mortgages, handing mortgages down to your children!) And while banks are prepared to give us motgages big enough, house prices will struggle to come down. And what does it matter if FTB's aren't entering the market anymore, when people are investing in 2nd and 3rd properties and homes are being filled with thouands of immigrants?? Maybe we dont have the power (FTB's) that we think we have?

Believe me, I want a house price crash big time. That is why I am 27 and living with parents! I also have faith in the house price crashing in the next 12 months, but if it doesnt, I'm going to get in and buy this time next year before things possibly get worse.

Dean

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Believe me, I want a house price crash big time. That is why I am 27 and living with parents! I also have faith in the house price crashing in the next 12 months, but if it doesnt, I'm going to get in and buy this time next year before things possibly get worse.

Dean

maybe you and Tony could share ? he's quitting in 12 months too :P

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Believe me, I want a house price crash big time. That is why I am 27 and living with parents! I also have faith in the house price crashing in the next 12 months, but if it doesnt, I'm going to get in and buy this time next year before things possibly get worse.

This housing crash won't take 12 months, you're looking at 5 years at least.

If you can't deal with living in rental accommodation that makes good financial sense,having your lifestyle subsidised by a complete stranger, then go buy somewhere.

I hope you have massive amounts of money to lose.

Edited by BandWagon

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No point looking at the national economy for 'indications' of a HPC - it isn't going to happen - IMO it'll be global, sudden and you won't see it coming...

Edited by dnd

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This housing crash won't take 12 months, you're looking at 5 years at least.

If you can't deal with living in rental accommodation that makes good financial sense, then go buy somewhere.

I hope you have massive amounts of money to lose.

This is the kind of comment which scares people away from this site.

I am not silly enough to think that this will take 12 months. As I stated in my original message, I have been looking at this site since day one (over 2 years), at which point 2005 was going to be "the" year. it didnt happen. Then 2006 was going to be "the" year. What happened? Increases again.

We are not even seeing a ray of light in house prices going down at the moment apart from the interest rate rises which I think are going to be critical along with the current HPC in the US.

Dean

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No point in deciding your future based on other peoples views. Will there be a huge crash- maybe. Will financial armagedon happen- who knows.

If you can afford to buy a home you like the look of then do the deal. If it drops 50% in value does it really matter? If you can afford to live in it and aren't bothered by an "on paper" value then it doesn't really matter.

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why dont you take up one of those 4-sharing mortgages with some friends or even strangers that they are talking about on 909 now

then when you get fed of living in each others face and the house drops 50% in value, you can beat each other up :ph34r:

No one can afford the damm houses - look how desperate people are.

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why dont you take up one of those 4-sharing mortgages with some friends or even strangers that they are talking about on 909 now

then when you get fed of living in each others face and the house drops 50% in value, you can beat each other up :ph34r:

No one can afford the damm houses - look how desperate people are.

I would never do that. I would rather continue living with my parents, even if it meant building a "Granny Flat" on the side of their house!

Believe me, I am not going to fall into the trap of the pathetic recommendations of "buy with a friend" etc.

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Believe me, I want a house price crash big time. That is why I am 27 and living with parents! I also have faith in the house price crashing in the next 12 months, but if it doesnt, I'm going to get in and buy this time next year before things possibly get worse.

Dean

I'd forget about a crash in the next 12 months. The best you can hope for is better bargaining power if the market starts turning sour over the winter.

Really you need to think more about how you are going to survive under a government whose economic policies are systematically bankrupting your (and my) generation. There really isn't anyway to get out of it now without taking a bite of a big sh!t sandwich.

Inflation and high interest rates? or continued low interest rates and a boom for a couple more years? Who knows?

Damage limitation is the name of the game from here on in I really believe that.

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Hi All,

Another load of crap news that prices are up AGAIN in August. :angry:

I suppose the IR increase has not had time to set in yet. With at least another rate rise likely this year and with what is happening in the US, I think we are entering a "crunch" and deciding 12 months in the housing market. Personally, I think house prices will start to see a significant downturn in this time. I wouldn't have waited this long if a didnt think they would.

HOWEVER, I have been looking at this site since day one and the HPC has been delayed, and delayed........

If we dont start at least seeing the tide turning in our favour this time next year, I am going to buy.

Yes, house prices are ridiculous. But what if they do get worse? What if they do go up 100% in the next decade? Rent prices will be through the roof, mortgages will be through the roof (50 year mortgages, handing mortgages down to your children!) And while banks are prepared to give us motgages big enough, house prices will struggle to come down. And what does it matter if FTB's aren't entering the market anymore, when people are investing in 2nd and 3rd properties and homes are being filled with thouands of immigrants?? Maybe we dont have the power (FTB's) that we think we have?

Believe me, I want a house price crash big time. That is why I am 27 and living with parents! I also have faith in the house price crashing in the next 12 months, but if it doesnt, I'm going to get in and buy this time next year before things possibly get worse.

Dean

I'm sure I read a statistic on here this week that BTL makes up a very small %age of the number of properties being bought. Can anyone confirm that? It would be interesting to know because the amount you read about BTL on here you would think the majority of purchases are BTL.

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Believe me, I want a house price crash big time. That is why I am 27 and living with parents! I also have faith in the house price crashing in the next 12 months, but if it doesnt, I'm going to get in and buy this time next year before things possibly get worse.

Why don't you move out of your parent's house and rent? You are far too old to be at home IMHO.

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Why don't you move out of your parent's house and rent? You are far too old to be at home IMHO.

Easy (and obvious) answer. Its cheap.

Why give someone I dont know £500 p/m to live in a sh*t hole when i can give my parents £200 p/m to live in a nice area while giving them a bit of pocket money?

And your comment of being "too old to live with your parents" is very old fashioned. Most people my age now live with parents or pay laughable rent prices. I know which I would rather do. And I know what my parents would rather do.

Even though I am living with my parents and saving £700 p/m, what is the point if house prices are going up 1% (about £1700) p/m??

Im no economist but pure maths tells me that I'm falling behind the market - rapidly. What I am saying is if this CONTINUES for 12 months and prices still DONT EVEN SHOW A SIGN of dropping, why keep waiting? I will then have waited for 5 years, (within 4 of these years house prices will have risen about 25% since the year 2003, when I first saw this site), so the market would need to crash 25% just to be back where I was!!!

Surely people will be admitting defeat if we are still seeing the same trend towards the end of 2007??

Edited by deano_54321

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I expect a lot of BTL purchases aren't recorded as such- proper BTL mortgages cost more and have a higher interest rate so I hear. Most people get a standard mortgage and play it by ear- can't go recording it as a BTL purchase or the mortgage co will be back to offer a different "package". I know from talking to my last landlady who had 3 BTL's she bought them all with bog standard mortgages.

Why don't you move out of your parent's house and rent? You are far too old to be at home IMHO.

Why line the pockets of a BTL landlord who helped to push up the price of a flat you might have been able to buy otherwise. If you can hunker down with your folks and save, save, save then why not?

I'm a bit older than you and I'm back with my family- they all bought years back when a house was just a home. Feck renting if you don't have to- I'm not helping a BTLer fund their fantasy property business unless I have no other option.

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Why line the pockets of a BTL landlord who helped to push up the price of a flat you might have been able to buy otherwise. If you can hunker down with your folks and save, save, save then why not?

I'm a bit older than you and I'm back with my family- they all bought years back when a house was just a home. Feck renting if you don't have to- I'm not helping a BTLer fund their fantasy property business unless I have no other option.

Youre bang on there.

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Easy (and obvious) answer. Its cheap.

Why give someone I dont know £500 p/m to live in a sh*t hole when i can give my parents £200 p/m to live in a nice area while giving them a bit of pocket money?

And your comment of being "too old to live with your parents" is very old fashioned. Most people my age now live with parents or pay laughable rent prices. I know which I would rather do. And I know what my parents would rather do.

Even though I am living with my parents and saving £700 p/m, what is the point if house prices are going up 1% (about £1700) p/m??

Im no economist but pure maths tells me that I'm falling behind the market - rapidly. What I am saying is if this CONTINUES for 12 months and prices still DONT EVEN SHOW A SIGN of dropping, why keep waiting? I will then have waited for 5 years, (within 4 of these years house prices will have risen about 25% since the year 2003, when I first saw this site), so the market would need to crash 25% just to be back where I was!!!

Surely people will be admitting defeat if we are still seeing the same trend towards the end of 2007??

Yes it's convenient to live with your parents but by your calculations 700+200 you cannot afford to buy a house. From bitter experience you need double the amount of cash you think to buy. If houses continue the trend you'd be mad to buy.

Why don't you rent and see how far the money goes? I'm not old-fashioned but you are just sponging off your parents in an artificial environment IMHO.

This business of falling behind the market is illusion. You've missed the boat because you didn't buy 5years ago. With hindsight it was a mistake. Too late now you have to wait for the obvious decline.

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Yes it's convenient to live with your parents but by your calculations 700+200 you cannot afford to buy a house. From bitter experience you need double the amount of cash you think to buy. If houses continue the trend you'd be mad to buy.

Why don't you rent and see how far the money goes? I'm not old-fashioned but you are just sponging off your parents in an artificial environment IMHO.

This business of falling behind the market is illusion. You've missed the boat because you didn't buy 5years ago. With hindsight it was a mistake. Too late now you have to wait for the obvious decline.

Sorry but you are completely out of line.

Firstly, you dont know me or my parents. Dont make such patronising comments. I am sick of hearing this quote "sponging off your parents". This is not true. My parents are financially better off with me living there. When I move out, they will be worse off, so you are completely and utterly 100% wrong there.

Also, I earn in excess of £900. I didnt really fancy giving all of my financial data out. But 700 savings and 200 to my parents isnt the only money I earn.

I could afford to buy a house on my (undisclosed) salery, but am not prepared to (Yet).

Edited by deano_54321

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Why pray tell is living with family in anyway sponging? If people want a HPC one of the best ways to help it on it's way is stick two fingers up at Mr and Mrs Buy To Let who think by MEWing and snapping up the FTBer properties they have got you by the nads with no option but to fall into their open arms and pay the same in rent as you could have done buying the place yourself.

If we are talking about artifical environments then isn't the whole housing market at present an Alice in Wonderland place anyway.

Saving 700 quid a month is better than spending 700 quid a month renting somewhere for the sake of it- plus you don't have top shell out for the council tax etc.

Renting isn't a big deal and isn't that great anyway- been there done that got feck all to show for it. Rather have saved to cash to help ME not my BTL landlady

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Sorry but you are completely out of line.

Firstly, you dont know me or my parents. Dont make such patronising comments. I am sick of hearing this quote "sponging off your parents". This is not true. My parents are financially better off with me living there. When I move out, they will be worse off, so you are completely and utterly 100% wrong there.

Also, I earn in excess of £900. I didnt really fancy giving all of my financial data out. But 700 savings and 200 to my parents isnt the only money I earn.

I could afford to buy a house on my (undisclosed) salery, but am not prepared to (Yet).

I'm sorry for offending you but it was just my opinion. Trouble is you are contradicting yourself: you don't want to rent, don't mind living at your parent's house but at the same time you want to buy at the most expensive point in history. Your argument doesn't quite stack up. So why are you buying? Is it to make money?

I really see renting as a cheaper option than giving your money to Gordon Brown and a solicitor and then losing money for the next 4 years.

I suppose I moved away from home a lot earlier than most and therefore became independent early on. You kind of just afford to do things if you want to enough. It doesn't make you sad just because you live at home aged 27. Thing is if you have it a bit harder in life you might be tougher in business or perhaps you just want an easy life?

Edited by Xurbia

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Hi All,

Another load of crap news that prices are up AGAIN in August. :angry:

Dean

I understand your predicament and anger: while my partner and I never really had much intention of settling down in the UK, house prices had accelerated beyond what I'd call a barometer of common sense by the time we might have contemplated buying together. It was when two couples bought the two bed s***box behind the one we were renting for 188k I knew it had gone too far. Those properties simply would not fetch that amount now. It'll be fun for the two couples living for some time in a house barely big enough for one person.

I ask since we're off to Amsterdam again in a couple of months and then to Delft to finally decide which and we want to be out within 6 months.

Do you have to live in the UK?

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Why pray tell is living with family in anyway sponging? If people want a HPC one of the best ways to help it on it's way is stick two fingers up at Mr and Mrs Buy To Let who think by MEWing and snapping up the FTBer properties they have got you by the nads with no option but to fall into their open arms and pay the same in rent as you could have done buying the place yourself.

If we are talking about artifical environments then isn't the whole housing market at present an Alice in Wonderland place anyway.

Saving 700 quid a month is better than spending 700 quid a month renting somewhere for the sake of it- plus you don't have top shell out for the council tax etc.

Renting isn't a big deal and isn't that great anyway- been there done that got feck all to show for it. Rather have saved to cash to help ME not my BTL landlady

I definately think you are along my way of thinking, and in a similar situation. I am 'creating' a 'real' environment by forcing myself to save that amount, which has me prepared for paying a mortgage in the future.

I am lucky enough to have a good relationship with my parents, and me staying with them gives them a bit of spending money they wouldnt have if I werent there.

"Sponging!!" How patronising!! I am SO sick of hearing that, especially when its completely not true! :angry:

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Why pray tell is living with family in anyway sponging? If people want a HPC one of the best ways to help it on it's way is stick two fingers up at Mr and Mrs Buy To Let who think by MEWing and snapping up the FTBer properties they have got you by the nads with no option but to fall into their open arms and pay the same in rent as you could have done buying the place yourself.

If we are talking about artifical environments then isn't the whole housing market at present an Alice in Wonderland place anyway.

Saving 700 quid a month is better than spending 700 quid a month renting somewhere for the sake of it- plus you don't have top shell out for the council tax etc.

Renting isn't a big deal and isn't that great anyway- been there done that got feck all to show for it. Rather have saved to cash to help ME not my BTL landlady

Totally agree. If people can stay with their folks and save then why not? Much better to give your mum some rent for the spare room than some BTL landlord. I hope more people chose to do this.

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Why pray tell is living with family in anyway sponging? If people want a HPC one of the best ways to help it on it's way is stick two fingers up at Mr and Mrs Buy To Let who think by MEWing and snapping up the FTBer properties they have got you by the nads with no option but to fall into their open arms and pay the same in rent as you could have done buying the place yourself.

If we are talking about artifical environments then isn't the whole housing market at present an Alice in Wonderland place anyway.

Saving 700 quid a month is better than spending 700 quid a month renting somewhere for the sake of it- plus you don't have top shell out for the council tax etc.

Renting isn't a big deal and isn't that great anyway- been there done that got feck all to show for it. Rather have saved to cash to help ME not my BTL landlady

Agree in principle. I suppose I just don't get why people want to buy at the moment. Renting is not necessarily helping the BTLers. It's too cheap to be helping much. This desire to own a house regardless of economic consequences just smacks of irrational behaviour. Sorry about that.

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Do you have to live in the UK?

Hi DT Mark,

In answer to your question, no, I dont have to live in the UK.

My girlfreind is German and I currently spend £100 per month visiting her. I am learning German myself and have Just passed A Level and becoming slightly fluent.

Moving to Germany is an option, but it would be a terribly emotional experience as I have such a stong link with my family over here. Apart from that I'm not 'patriotic', the UK is a sh*thole now.

Good luck to you,

Dean

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I definately think you are along my way of thinking, and in a similar situation. I am 'creating' a 'real' environment by forcing myself to save that amount, which has me prepared for paying a mortgage in the future.

I am lucky enough to have a good relationship with my parents, and me staying with them gives them a bit of spending money they wouldnt have if I werent there.

"Sponging!!" How patronising!! I am SO sick of hearing that, especially when its completely not true! :angry:

I respect and commend your saving ethic. It would be a shame to waste that money though because that is what you'll feel. You are young enough though to afford to few regrets; one of the good things about being younger.

No offence intended. Good luck with your plans.

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I'm sorry for offending you but it was just my opinion. Trouble is you are contradicting yourself: you don't want to rent, don't mind living at your parent's house but at the same time you want to buy at the most expensive point in history. Your argument doesn't quite stack up. So why are you buying? Is it to make money?

I really see renting as a cheaper option than giving your money to Gordon Brown and a solicitor and then losing money for the next 4 years.

I suppose I moved away from home a lot earlier than most and therefore became independent early on. You kind of just afford to do things if you want to enough. It doesn't make you sad just because you live at home aged 27. Thing is if you have it a bit harder in life you might be tougher in business or perhaps you just want an easy life?

Im sorry but you are again speaking complete cr*p and making assumptions and comments which are just accusations - "easy life", "might be tougher in business".

You really dont know who I am so please stop making patronising comments.

And the only people I am giving money to at the moment is my parents and myself (saving). At least Im not filling another BTL'ers pockets!

Thanks for your best wishes though. I'm sure were on 'the same side' really, and it is a very emotional subject for everyone on here. So sorry if I offended you too. ;)

Edited by deano_54321

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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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