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I Am No Longer Sure If A Crash Will Happen


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Hi

I am new to this chat board, but I have been reading the boards for the past 3 years.

I have held out for a crash, saved up a good deposit, but I an getting tired of paying dead money by renting.

I am starting to wish I had brought in 2004 and am now thinking it would be a good time to buy because I cannot see a crash happening. Even with all the bad news, economic wise, prices are still going up, rather than crashing.

I think its time to stop hoping for a crash, and start making other plans to buy. What do you guys think?

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Hi

I am new to this chat board, but I have been reading the boards for the past 3 years.

I have held out for a crash, saved up a good deposit, but I an getting tired of paying dead money by renting.

I am starting to wish I had brought in 2004 and am now thinking it would be a good time to buy because I cannot see a crash happening. Even with all the bad news, economic wise, prices are still going up, rather than crashing.

I think its time to stop hoping for a crash, and start making other plans to buy. What do you guys think?

If you need to buy a house to get on with your life and family (the importent stuff) and you have a secure job do it. If it's a short term investment or you see it as a way to get rich don't bother.

If I had enough money and was sure I could handle the morgage I'd get a house whatever the price.

Edited by Ipodjunky
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Hi

I am new to this chat board, but I have been reading the boards for the past 3 years.

I have held out for a crash, saved up a good deposit, but I an getting tired of paying dead money by renting.

I am starting to wish I had brought in 2004 and am now thinking it would be a good time to buy because I cannot see a crash happening. Even with all the bad news, economic wise, prices are still going up, rather than crashing.

I think its time to stop hoping for a crash, and start making other plans to buy. What do you guys think?

You are right - 2004 would have been a good time to buy. Not much you can do about that now, however.

I think the decision (leaving aside personal, non-financial considerations like starting a family, etc) depends on your part of the country. If you're in the South East (particularly the capital), then yes; I would buy.

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Hi

I am new to this chat board, but I have been reading the boards for the past 3 years.

I have held out for a crash, saved up a good deposit, but I an getting tired of paying dead money by renting.

I am starting to wish I had brought in 2004 and am now thinking it would be a good time to buy because I cannot see a crash happening. Even with all the bad news, economic wise, prices are still going up, rather than crashing.

I think its time to stop hoping for a crash, and start making other plans to buy. What do you guys think?

Are you a troll? Just curious 'cos of one thing you said.

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Hi

I am new to this chat board, but I have been reading the boards for the past 3 years.

I have held out for a crash, saved up a good deposit, but I an getting tired of paying dead money by renting.

I am starting to wish I had brought in 2004 and am now thinking it would be a good time to buy because I cannot see a crash happening. Even with all the bad news, economic wise, prices are still going up, rather than crashing.

I think its time to stop hoping for a crash, and start making other plans to buy. What do you guys think?

If you can get the same house for the same amount of interest on a mortgage as you would pay rent, and you're not planning to move again in the next 5-10 years, you might as well.

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DYOR and and trust yourself do not rely on anyone else's view, to me you sound very unsure but good luck.

Hi

I am new to this chat board, but I have been reading the boards for the past 3 years.

I have held out for a crash, saved up a good deposit, but I an getting tired of paying dead money by renting.

I am starting to wish I had brought in 2004 and am now thinking it would be a good time to buy because I cannot see a crash happening. Even with all the bad news, economic wise, prices are still going up, rather than crashing.

I think its time to stop hoping for a crash, and start making other plans to buy. What do you guys think?

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Why do posters always say they have read these boards for years but then only decide to post once they have come to the conclusion we are all wrong?

Obvious troll. It took me about 2-3 months before I felt the urge to sign up.

Oh, and s/he signed out as soon as they posted. I'd be waiting around viewing the replies, especially on my first topic. The name gives it away a bit too...

lol

Edited by Jason
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I admit I am very unsure what to do. This site does not help too much as you guys obviously want a crash. Other sites says prices will keep rising. You get so many conflicting messages you feel like your standing out in the rain with your pants around your ankles!

I am not interested in buying and quickly selling, I want a home for many years. But is it the right time to buy? What if you lot are wrong, like you have been for the past several years?

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Oh dear! I can't believe this!! I have seen this many times. When someone does not go along with your views of an inevitable crash, you all jump on them, accusing them of being a troll, an investor, even an estate agent. Why? Why am I not allowed to ask sincere questions and hold a different view to you without being accused or targetted?

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I admit I am very unsure what to do. This site does not help too much as you guys obviously want a crash. Other sites says prices will keep rising. You get so many conflicting messages you feel like your standing out in the rain with your pants around your ankles!

I am not interested in buying and quickly selling, I want a home for many years. But is it the right time to buy? What if you lot are wrong, like you have been for the past several years?

Go for it and good luck :)

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Personally I havn't stood outside in the rain with my pants round my ankles are you are quite familiar with the process?

I admit I am very unsure what to do. This site does not help too much as you guys obviously want a crash. Other sites says prices will keep rising. You get so many conflicting messages you feel like your standing out in the rain with your pants around your ankles!

I am not interested in buying and quickly selling, I want a home for many years. But is it the right time to buy? What if you lot are wrong, like you have been for the past several years?

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I have held out for a crash, saved up a good deposit, but I an getting tired of paying dead money by renting.

you are right, dead money on interest is a lot more dignified :rolleyes:

not to mention the dead money on stamp tax and other buying costs

as long as IO mortgage costs more than rent, you would be crazy to buy UNLESS you expect HPI

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Personally I havn't stood outside in the rain with my pants round my ankles are you are quite familiar with the process?

You owe me a noseful of whisky and a new keyboard.

To the OP, though - yeah, go for it. Now's the time to buy. Try to buy a spare BTL property, too, to make the most of these splendid conditions. They only come round every 18 years or so :)

P.

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Hi

I am new to this chat board, but I have been reading the boards for the past 3 years.

I have held out for a crash, saved up a good deposit, but I an getting tired of paying dead money by renting.

I am starting to wish I had brought in 2004 and am now thinking it would be a good time to buy because I cannot see a crash happening. Even with all the bad news, economic wise, prices are still going up, rather than crashing.

I think its time to stop hoping for a crash, and start making other plans to buy. What do you guys think?

I think you must be quite mad !!

I too have had my doubts, and have got disillusioned about the amount of time its taking.

But I really believe things have changed in the last couple of months, there is more & more bad news in the press everyday now, and sentiment IS changing.

I think we'll have a pretty clear picture of where things are heading by the end of this year, or early next year.

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Do you plan to stay in one place for a while?

Is it important to you to have a secure tenure in a house where you, rather than a landlord, control the condition of the property?

Can you afford to buy, considering that interest rates may rise?

If yes to all 3 then by all means buy. You may lose equity in a crash but in the long term you'll be OK. I would just advise against buying for capital gains because I do not foresee large gains hereafter.

The same logic would probably mean I should buy myself. But I can't bring myself to pay what the market is asking, it seems such a rip-off. I'm renting for 6900/year in a house the landlord bought this year for 160,000. Add 1,600 stamp duty and (conservative estimate) 1000 solicitors and survey fees, that comes to 162,600. He then replaced the kitchen, half the carpets, the central heating system (boiler and radiators) and redecorated throughout. I don't know how much this cost him but surely one couldn't do this for less than 170,000 total? On that basis he's now getting a yield of 4.05%. But I also know he had several months void while he did the work.

Just can't persuade myself to buy when I get such a good deal renting.

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Oh dear! I can't believe this!! I have seen this many times. When someone does not go along with your views of an inevitable crash, you all jump on them, accusing them of being a troll, an investor, even an estate agent. Why? Why am I not allowed to ask sincere questions and hold a different view to you without being accused or targetted?

I have been accused of being a troll this evening for having the audacity to disagree with the Realist Bear. On that level i share your frustration.

That said OP, if you have been looking at this site for years you will know 2 things.

1) Many trolls punt out what you have said

2) Many posters shout you are a troll

Its part of the site.

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Oh dear! I can't believe this!! I have seen this many times. When someone does not go along with your views of an inevitable crash, you all jump on them, accusing them of being a troll, an investor, even an estate agent. Why? Why am I not allowed to ask sincere questions and hold a different view to you without being accused or targetted?

Don't worry. I have very similar feelings about the situation. I really want to buy and I probably could, even at the current levels. However, I'm confused at the likely prospects. To me, if any likely crash/correction is <20%, then given that high inflation is eroding my savings and I have no need to move in a hurry, then buying doesn't really look a bad deal in the mid-term.

I guess the most important thing is to understand that IRs are going up and probably going to stay there for a while, so don't stretch yourself.

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Hi

I am new to this chat board, but I have been reading the boards for the past 3 years.

I have held out for a crash, saved up a good deposit, but I an getting tired of paying dead money by renting.

I am starting to wish I had brought in 2004 and am now thinking it would be a good time to buy because I cannot see a crash happening. Even with all the bad news, economic wise, prices are still going up, rather than crashing.

I think its time to stop hoping for a crash, and start making other plans to buy. What do you guys think?

Yes, and you should also buy an investment property in Spain or Florida

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