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dude wheres my house

2 Years And Counting

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The news around just now is the most bearish i have ever seen, Credit crunch, mortgage rates rising all over the place etc.

I have now decided that i will not buy for at least 2 years and will now await developments. I have also arranged accomodation for this period,

If after 2 years prices have stagnated and stayed high, or (hopefully not) have risen i will take this as a sign that we are not going to get a fall in prices and will buy.

I am just interested in what your plans are at the moment and if you have any dates around points when you will apraise the situation and take action.

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The news around just now is the most bearish i have ever seen, Credit crunch, mortgage rates rising all over the place etc.

I have now decided that i will not buy for at least 2 years and will now await developments. I have also arranged accomodation for this period,

If after 2 years prices have stagnated and stayed high, or (hopefully not) have risen i will take this as a sign that we are not going to get a fall in prices and will buy.

I am just interested in what your plans are at the moment and if you have any dates around points when you will apraise the situation and take action.

I'm very proud of my other half. She's come round to my explanations of the market and its likely future very well. However, I don't want to abuse her trust in my predictions or put our life together on hold for a house indefinitely. We discussed my thoughts early this year and agreed that if there were no clear signs of a drop in prices by beginning of 2008 then we would start looking for a place again. If there are signs then we will consider our options and how long we are prepared to wait. Though price falls are starting to filter through, I'm still waiting for some solid results that will convince her. I don't want to force her to wait if she's not comfortable about it.

If we both agree that house prices are dropping then we will probably also wait 2-years. Prices won't be at the bottom of the trough yet but should be acceptable.

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I have recently made a career move and so my decision is swayed a bit by that.

i.e. I want to get a really good start before I take on any serious financial comitments.

.

I don't really want to stay in London any longer than I have to so I think I will sit tight and

save while renting cheaply for a year or so. Then move out of London and rent somewhere for

about another year while I test the place out and see if I like it.

.

Then Buy

.

Short answer, about two years. Which I also think will give the MArket time to sort itself out.

.

ST

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I won't buy till prices fall to a sensible level.

If they don't ever fall, I will keep saving, keep renting and possibly move overseas where life is cheaper and the weather is nice.

I will not indenture myself to 'own' a house or flat in this country at ridiculous prices.

Edit: I am lucky in that my BF agrees with me, we have no intention of buying at current prices.

Edited by tara747

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Quick Poll:

How old is everybody?

Interested to know what stage, career / life wise people are at.

I hate putting off buying for so long I wonder if you guys are the same.

.

I am 27.

.

ST

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The overseas option is my plan B only to be used in dire emergencies (Like turning 30 and still being in the same position). To be honest i dont want to move abroad all my friends and family are here but if it comes to the crunch i will do whats best for me and my own.

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I sold up and moved into rental in Jan of this year. With 2 - 2½ year timescale before we are looking to purchase.

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Guest d23
Quick Poll:

How old is everybody?

Interested to know what stage, career / life wise people are at.

I hate putting off buying for so long I wonder if you guys are the same.

.

I am 27.

.

ST

I'm 35

If prices haven't shown a 'sharp fall to the downside' by late 2008 I'll consider buying but by then the arguments against buying will no doubt be even stronger so who knows

I've been called an uber bull for saying that a crash isn't underway yet tho so I'm glad to see I'm not the only uber bull around here :lol:

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The news around just now is the most bearish i have ever seen, Credit crunch, mortgage rates rising all over the place etc.

I have now decided that i will not buy for at least 2 years and will now await developments. I have also arranged accomodation for this period,

If after 2 years prices have stagnated and stayed high, or (hopefully not) have risen i will take this as a sign that we are not going to get a fall in prices and will buy.

I am just interested in what your plans are at the moment and if you have any dates around points when you will apraise the situation and take action.

In 2 years time will you still be able to call people dude without looking like a sad oldie ?

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The news around just now is the most bearish i have ever seen, Credit crunch, mortgage rates rising all over the place etc.

I have now decided that i will not buy for at least 2 years and will now await developments. I have also arranged accomodation for this period,

If after 2 years prices have stagnated and stayed high, or (hopefully not) have risen i will take this as a sign that we are not going to get a fall in prices and will buy.

I am just interested in what your plans are at the moment and if you have any dates around points when you will apraise the situation and take action.

Won't be buying until 2011-2012 at the earliest. Want to give this cycle at least another 4-5 years to play out before buying.

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Quick Poll:

How old is everybody?

Interested to know what stage, career / life wise people are at.

I hate putting off buying for so long I wonder if you guys are the same.

.

I am 27.

.

ST

You shouldn't rush to buy. Don't give in to the pressure of VIs.

I rememebr my landlady in London saying to me "If you don't buy before you're 30 you'll never buy".

I didn't buy till i was 35. Ten years later i owned a flat and a 3 bed semi, both mortgage free.

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Quick Poll:

How old is everybody?

Interested to know what stage, career / life wise people are at.

I hate putting off buying for so long I wonder if you guys are the same.

.

I am 27.

.

ST

Worked and lived in London up until last year. Realised I was never going to have the life I wanted there.

Now re-training on a 4 year MSc course in Chiropractic, living in Poole, Dorset.

Never been poorer...or happier.

Age: 31

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I'm 33, my partner and I bought a lovely 3 bed detatched house last December. We have a nice 3 year fixed rate mortgage. Lets just hope in 2 1/2 years time things are looking positive. I also have a BTL on a property I bought as a student, keep going round in circles on that one - should I sell, keep, sell, keep. I don't know. If only I had a crystal ball ....

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I advised all my clients looking to buy to wait until september/October this year to see how the market develops. I will now be advising them all to sit back and watch house prices become affordable over the next 2 years. I would not be buying until Spring 2009 at the earliest. It will become more obvious in the next couple of months. The last few months have been the should I/shouldn't I buy months, the next few months wil be the F&*k I wish I had not bought months, the next year or so will be the bankruptcy months. Then we will be back to the should I/shouldn't I months.

38 with a ton of equity in my property, there is no way I can persuade my wife or kids to STR so I have hedged with a few spread bets on house prices. I am ready to lose this equity pretend money so that my kids will one day be able to buy a property that is fairly valued.

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32 years young here

The wife and I are living and working in Germany.

She has a contract until Dec 2008 and after that we will make a decision on whether to return to the UK or look elsewhere.

And I should really have my name changed to EX-Overseas Landlord (How do I do that??)

We were renting our UK property to act as a safety net in case we wanted to return, but sold it last year as we didn't want to get stuck with it if/when the market turns.

Now we have a nice nest egg and the freedom to go anywhere in the world we want!!!

[Oldie: I've changed your display name for you, login name is unchanged. If you weren't serious, let me know and I'll change it back again.]

Edited by The_Oldie

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Never been poorer...or happier.

Age: 31

Yep getting into the cycle of having stuff and working for it is not all its cracked up to be.Was burdened with a house between 1985-2006,especially the last one with its one acre garden.Now enjoying time out in a bedsit shared with my girlfriend and I have never been happier.I will have to get something sooner or later,you end up conforming in the end.

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Quick Poll:

How old is everybody?

Interested to know what stage, career / life wise people are at.

I hate putting off buying for so long I wonder if you guys are the same.

.

I am 27.

.

ST

I also will wait and see Uk side. I would like a base in the UK but not at silly prices.

I am 43 by the way.

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I hate putting off buying for so long I wonder if you guys are the same.

.

I am 27.

26. I too hate putting off buying, particularly as the missus sometimes uses it to challenge my commitment to her, but I just can't make the numbers add up. Luckily I'm on a fixed contract, so I'm able to use that to stall her.

Not even my mum, who was an EA through most of the 90s, seems immune from the hype. She's become more bearish recently, though, as she keeps a watchful eye on the local markets.

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Quick Poll:

How old is everybody?

Interested to know what stage, career / life wise people are at.

I hate putting off buying for so long I wonder if you guys are the same.

.

I am 27.

.

ST

Early thirties young man! Semi-retired (work when I want, usually 'cause it's something interesting or in an interesting place)

Regarding wanting to buy I think it's a personal physcology thing, old goonboy regards a house as a bunch of bricks to keep the rain out...

Also I tend to be out and about a lot, spending money on wooden floors and conservatorys would be wasted as I wouldn't be there to enjoy them very much...

I think for many people security (mostly perceived) is the reason to own a property.

Personally I like uncertainty, I get considerably more pleasure watching my equities bouncing up and down than I would if I cashed them in and bought a place somewhere. Also my definition of wealth is "the ability to do what you want"

certaintly for old gB the liquidity of equities provides that more than an immobile load of bricks and mortar...

HPI matters not for me, but if you want to buy you have my sympathies for the current bubble!

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You remind me of Ian Holm in Alien :)

Awesome buddy :lol: thx!

Although I usually just fast forward to the end to see Sigourney in her pants ;)

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Completed on the sale of my one bedroom flat in Surrey in June this year. When I sold back in March my original plan was to buy a house with my girlfriend and take on a large mortgage.After some thinking and alot of help from this site I came to the decision that it would be more prudent to hold off buying.

I am one of the lucky people that bought in 1999 and has ridden the madness hopefully to the top. I am currently at home with parents and saving with no debt and a large deposit spread around a few banks. My intention is to rent with the girlfriend in this spring. I am fortunate that my girlfriend is happy with my decision but I get constant hassle from my mother about buying and back in March my siblings thought i was ******* mad. I don't know what they think at the moment.

I am hoping that we will see solid evidence of house prices falling nationally in the next 6 months to get my family off my back but also for my own piece of mind. I know that I am luckier than alot of people on this site as some have been waiting along time for a HPC.

If it does fall then I will looking to stay out of the housing market for aslong as it is prudent and aslong as I am not a father with a child going to school.

With my limited knowledge I think and hope that that we will have quicker and bigger falls than the US and hope most of the drop will be within the first 3 years with 7 years of stagnation.

I am 33

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