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Of Those Who Frequent This Site, How Many Of You Are Struggling Ftbs?


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Sold my house 2 months ago at £5k over the HIGHEST of 3 valuations (and the higher valuation was £15k more than the middle valuation) - still waiting for it all to go through. Im a little worried about them falling out due to all this negative press on the housing market.

Im not going to re- buy in this country, but rather in the US or Canada due to the High pound vs the Dollar's and also considering the crash has already happened in the US.

The alternative is to buy in Estonia, Poland, or Croatia but im also looking at Latvia and Lithuania. Going on a tour of these countries in Spring next year.

Edited by Rikk03
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Home "owner" - we owe approx 40% of purchase price of house. Most equity is just rolled up from previous purchases. Bought first flat in 1991. Tried STR - didn't like it, bottled and bought earlier this year.

Genuinely concerned for the fabric of society over the next few decades if prices don't allow a reasonable lifestyle for the majority of population.

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I'm not. I'm in rented accommodation with significant equity. It's a complicated story, but I didn't STR.

Anyway, I reckon this site is a talking shop for people who want to, or fantasise about playing the property market - most of whom own house(s), BTLs or are STRs.

When the investment banking thread has several people posting about situations at their investment bank, you kind of get the impression that there's a lot of people who post who are not struugling FTBs.

There's a few FTBs who frequent this site, but with the picture I've built up, they by no means the majority.

I think you miss the point...

Yes, there are plenty of STR's but they themselves have there own reasons for being here. Some have speculated that HP's will drop (I don't see why people are disaproving of this to be honest, it's a personnal choice) but many cannot afford to move up the ladder or are very worried about the financial risks they would be taking if buying a home now.

I could afford to buy a house now, but would need a huge mortgage to do so, if myself or Mr Goat lost our jobs we wouldn't be able to keep up the mortgage repayments.

But yes I do have a few quid stashed away most of it saved over the last 15 years but about 20% of it from the sale of my studio flat. And of course, I want to maximise it's potential, but it is not nearly enough to beable to afford a house without crippling debt.

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I'm a potential FTB - although 'potential' seems very hypothetical indeed at the moment.

Not surprised STRs post more frequently, as their position means they are exposed to greater risk and it is more of a conscious choice - hence a greater need for analysis and greater levels of self doubt. As an FTB I feel much more that it is in the hands of the gods - and thus post less.

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FTB

FTB. Not looking to beat the market, just don't want to be owning an ex-la in an area I don't like on the market downcycle.

Similar thoughts to above. Don't want to potentially pay significantly over the odds. House today or house and earlier retirement/less financial stress tomorrow?

Used to be a first time buyer when I joined this site, but quickly realised it was Sell to Renters who where in the majority with a vested interest in seeing a crash.

Bought 18 months ago and seen prices rise since then.

Joined 2 years ago. Moved into rented flat similar time. Landlord owns 6/7 of them. Moved out 3/52 ago. Landlord has put all up for sale (others have had to move out or buy). Dunno if coincidence. None are priced at any more than they were selling for 2yr ago. Couple are now priced less. It was v easy to to move. 1 months notice, no solicitors/EA fees etc. Managed overlap of 2 days with new prop so v little extra rent paid.

BTW I am an only a FTB wrt residential. I bought a commercial property in May (Paid half with a business partner). Return is currently %10 with no mortgage. Almost covers my rent.

You pays your money and you makes your choice.

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Prospective first time buyer, have been able to buy for the last two years, but won't because I think prices are stupid. Markets are cyclical, I have a nice landlord and a nice housemate, so I consider myself fortunate, try to save 60% of my pay every month and get on with life.

My rent is less than the interest only mortgage on an equivalent place (figures I used: borrowing 80% of Asking price of a similar place down the road earlier this year with same floor space and internal configuration). It just doesn't make sense to buy right now. And my rent hasn't gone up for 3 years.

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christh - that was a super move, polling the HPC.com posters - and interesting results.

I guess it backed up my hunch that the majority of posters are not FTBs (for whatever that's worth anyway). What surprised me was the amount of STRs, about 20%. In normal life STRs are few and far between. So I guess they migrate to this forum, hoping that with there collective thoughts they can bring the market down, and buy a footballers house at a knockdown price.

I did notice that the contributors to the investment bank thread, didn't comment - it must have been bonus day.

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I'm an FTB, been renting for 2 years since leaving my folks finally. Am not really in a position to buy, as currently saving a deposit at 500 a month, will probably move back to my folks for the last 6 months/year of saving so I can put nearer 1500 a month away.

Really do want to buy, but am far, far better off financially for renting, so really just observing and waiting to see what happens. I love the fact I can eff off tomorrow and get a new job in a new place without any kind of hassle selling and buying a new house. If I could get a home/roaving based job that paid what I currently earn, I'd probably buy in another area tomorrow, but the higher rates around here are higher for a reason, I could probably just about afford the place I'm renting, but I'd no longer be able to save any money, and things would be tough.

Most days though, I just can't see me buying into this market. My folks rented all their lives and had a great time, they have an old style tenancy agreement though that essentially means they can't be booted out, and has remained very well priced as it cannot increase more than inflation.

If those kinds of deals were available nowadays, I'd never buy, no question at all.

Thanks BTL.

Edited by Nick..
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Don't worry Borat, uncle David Miles says there's plenty of speculation going on in UK residential property, in the Buy To Let sector.

The premise for purchase is:

"I'm buying it because some other man is going to buy it off me at a later date for more money."

The fact that they're subsidisers is "not a problem".

The moment the above premise can be proven to be false, the speculative element in the market would unwind.

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In normal life STRs are few and far between. So I guess they migrate to this forum, hoping that with there collective thoughts they can bring the market down, and buy a footballers house at a knockdown price.

Just a wild guess, but I think STRs like me might indeed be attracted to a site called housepricecrash. I still remember the happy day when as a troubled OO I searched for kindred spirits by googling those 3 powerful words....

:)

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Just a wild guess, but I think STRs like me might indeed be attracted to a site called housepricecrash. I still remember the happy day when as a troubled OO I searched for kindred spirits by googling those 3 powerful words....

:)

Selling Up,

You're too cryptic. Don't you know STRs are not very clever at the moment given the HPI. I'd say what you mean.

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FTB. Not looking to beat the market, just don't want to be owning an ex-la in an area I don't like on the market downcycle.

Me too. I don't have anything against ex-LAs - my grandparents lived in LA housing all their lives - but I don't want to be getting only small change for a house in disrepair in an area that I wouldn't feel safe walking back to in the dark. I'd rather wait, save as much as I can, and then buy a reasonably nice house in an area that I *do* like.

Encountered some idiot a while back who declared "all parts of Oxford are nice - y'know, dreaming spires and that". I could have happily booted them into the middle of next week. Grr.

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  • 442 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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