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Ftbyers Buy Now - Dont Wait Any Longer.


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I am an asshole, but I am not a homeless asshole.

Let me get this right - you are advising first time buyers to buy a home at prices you yourself have admitted you can no longer afford?

Bluddy marvellous piece of advice that is.

Mind you, you've already admitted to what you are so why am I bothering to type.

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In 2004 when I before I bought my home, I asked people should I buy now or wait until a crash. Everyone told me to wait.

I dont like doing what I am told, so I bought my home for £195,000. I got a survey done for my will and the report came in yesterday, the house is valued at £265,000. Thats an increase of £70,000 equity. Taking into account any future crash or correction, even if it was to happen today I would lose £70,000 thats not mine until I sell anyway, i would not lose any money on the purchase price.

My advice to FTB is you can wait and keep on waiting and the house prices are just going to keep rising. Others on here will disagree as I expect them too, thats their point of view. My view is based on the evidence around me.

Now that interest rates are on hold, expect prices to keep on climbing, are you being left behind on affordability.

I know for fact I cannot afford to get a mortgage for the house I live in, if I bought it at todays prices. Thats one decision I made that paid off.

The fat lady hasn't sung yet.

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Guest Bart of Darkness
I am an asshole, but I am not a homeless asshole.

Very few of us post from cardboard boxes I would imagine, so "homeless" we aren't (there's only one homeless anyway ;) ).

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So the catagories are now bearish, very bearish, extremely bearish, neither, bullish and troll :blink:

'

http://en.wikipedia.org/wiki/Internet_troll

In Internet terminology, a troll is a person who enters an established community such as an online discussion forum and intentionally tries to cause disruption, often in the form of posting messages that are inflammatory, insulting, incorrect, inaccurate, absurd, or off-topic, with the intent of provoking a reaction from others.

http://en.wikipedia.org/wiki/Schadenfreude

German word meaning 'pleasure taken from someone else's misfortune.'

http://en.wikipedia.org/wiki/********

******** (often abbreviated to BS) is a common expletive. Its most common usage is as a description of incorrect, misleading or false language and statements.
Edited by dnd
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Strange that you'd pay for a valuation for a will given that with a 200K house it hardly merits the effort <_< that's where you lost my interest TBH.

However, for the sake of discussion an estimated value of 265K (lets say 250K sale price) gives you perhaps 45K clear profit once imput costs and exit costs are accounted for. Roughly the 20% increase over 2.5 years most commentators have suggested is correct. A fall of roughly 15% in values would put you back to where you started. Your point is...?

Incidentally your I.O. mortgage would have gone up nearly 500 quid in the same period ;)

Edited by Converted Lurker
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In 2004 when I before I bought my home, I asked people should I buy now or wait until a crash. Everyone told me to wait.

I dont like doing what I am told, so I bought my home for £195,000. I got a survey done for my will and the report came in yesterday, the house is valued at £265,000. Thats an increase of £70,000 equity. Taking into account any future crash or correction, even if it was to happen today I would lose £70,000 thats not mine until I sell anyway, i would not lose any money on the purchase price.

My advice to FTB is you can wait and keep on waiting and the house prices are just going to keep rising. Others on here will disagree as I expect them too, thats their point of view. My view is based on the evidence around me.

Now that interest rates are on hold, expect prices to keep on climbing, are you being left behind on affordability.

I know for fact I cannot afford to get a mortgage for the house I live in, if I bought it at todays prices. Thats one decision I made that paid off.

Why dont you buy another? Earn yourself another easy 20 odd grand a year? Easy money.

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Not buying at this point, they will look back in 2 years when prices will be even higher and affordability will be off the chart, and say "I wish I bought in 2007".

I couldnt afford to buy my house if I came today, not to even think of what it will be worth in 2 years time. I dont think prices will crash enough to make me regret my decision to buy in 2004.

The door is closing on affordable house if it is not already shut. Look at "Homeless", A bitter, angry sad little man, hoping the BNP will come to the rescue and save him from being pricedout. :lol:

so what happeneds when peopel decide not to work anymore. :rolleyes:

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So I post this subject this morning and someone probably a moderator has decided that I am a troll and an asshole.

Why ?

Because I bother to voice an opinion on what I believe !

What you are all failing to realise is this, people out there are paying attention to this site, if people cannot give their own opinion then it is censurship and what is the point of this website.

Do you only want people to post subjects that agree with your interpretation of the facts or else they get trolled ?

I must say I expected better.

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No you are a debt ridden asshole. Who probably will never have kids because buying a house at an over inflated house means cannot

afford them to feed any offspring.

Have I bought a house at an over inflated price ? Yes

Am I debt ridden ? No more than anyone else

Will I have kids and can I afford them ? Yes as much as anyone else

Your point of this post being what, i am just like you or are can you not afford a home to start with, let along kids.

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yeah, you have a nice warm place to shelter from the rain

up your estate agent boss's hairy sphincter

but seriously, yes, you are right. You ARE an asshole.

You think I am a estate agent !

No I wouldnt even know where to start the bull.

If an arsehole is me, then theres probably around 30 million arseholes in the country, I can live with that.

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It sometime helps if you read through their posts from when they first joined.

http://www.housepricecrash.co.uk/forum/ind...p;hl=&st=75

nomoney may be guilty of posting a bad topic (and not have given it much thought) but he is not a troll

this is definitely a bit of over-zealousness on the mods part

big brother and all that

edit: www - now there's a troll

http://www.housepricecrash.co.uk/forum/ind...mp;#entry530109

Edited by prophet-profit
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In 2004 when I before I bought my home, I asked people should I buy now or wait until a crash. Everyone told me to wait.

I dont like doing what I am told, so I bought my home for £195,000. I got a survey done for my will and the report came in yesterday, the house is valued at £265,000. Thats an increase of £70,000 equity. Taking into account any future crash or correction, even if it was to happen today I would lose £70,000 thats not mine until I sell anyway, i would not lose any money on the purchase price.

My advice to FTB is you can wait and keep on waiting and the house prices are just going to keep rising. Others on here will disagree as I expect them too, thats their point of view. My view is based on the evidence around me.

Now that interest rates are on hold, expect prices to keep on climbing, are you being left behind on affordability.

I know for fact I cannot afford to get a mortgage for the house I live in, if I bought it at todays prices. Thats one decision I made that paid off.

I know I shouldn't feed it but:

How do you know you wouldn't lose money in a crash?

If you couldn't afford your house at today's prices, you probably can't afford to trade up.

How much dead money in interest have you paid in those 3 years?

the bears in this forum are getting more and more despondent and quite understandably.........This is the nature of bubbles in asset markets.......When no-one expects a correction (when the last bear turns bull) it will come!

Silly things start happening prior to a peak such as people who should know better telling priced-out FTBs to buy abroad to ''get on the ladder''............

Another thing is how when people (especially the VIs) compare the current situation with the past they conveniently ignore the effect of MIRAS......

CTT and CO will know the exact figures but in the 1970s the basic rate of income tax was 33% and in the 80s it was 25%..........Interest-only mortgages weren't really available then but MIRAS had the effect of making 1973s 15% IRs effectively 10%..........and the 15% of the late 80s only 11.25%....1981 similar........

Also you have to remember that the 15% IRs were only there for very short periods.....Most of the 70s and 80s i think Irs were about 9 or 10% which is almost as low as now after allowing for MIRAS

True.

So I post this subject this morning and someone probably a moderator has decided that I am a troll and an asshole.

Why ?

Because I bother to voice an opinion on what I believe !

What you are all failing to realise is this, people out there are paying attention to this site, if people cannot give their own opinion then it is censurship and what is the point of this website.

Do you only want people to post subjects that agree with your interpretation of the facts or else they get trolled ?

I must say I expected better.

I'm all for a variety of views, in fact I welcome it, as do others. I think the 'troll' accusation comes from the fact that you started off seemingly quite bearish, like a lot of posters who join HPC pretending to be confused lil' FTBs. After a couple of weeks or so, you 'see the light' and realise that HPI will continue to infinity - and try to convince the rest of us that this is the case. Which is trolling. You are probably an estate agent or a BTL.

Yawn.

Edited by tara747
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  • 2 weeks later...

No you are a debt ridden asshole. Who probably will never have kids because buying a house at an over inflated house means cannot

afford them to feed any offspring.

Why does buying ahouse = no family? I have bought recently, am expecting a child and am on average wage, I will be just fine you arrogant ******

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No you are a debt ridden asshole. Who probably will never have kids because buying a house at an over inflated house means cannot

afford them to feed any offspring.

Why does buying ahouse = no family? I have bought recently, am expecting a child and am on average wage, I will be just fine you arrogant ******

I think he means you'll be f**ked in a years time not at the moment. At the moment most house owners feel quite smug and content. Just like a friend of mine who owned £60k's worth of Marconi shares in 2003.

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  • 3 weeks later...
Guest Bart of Darkness

Ftbyers Buy Now - Dont Wait Any Longer.

I take it (from your breathless advice above) that you're willing to give me the money to do this. About £50,000 should do for a decent deposit.

Thanks in adavance.

BoD

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