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Trixta

Have You Thought About What Will Happen?....

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A prize goes to the first one of you in this forum to buy a property after the so called "crash".

Realistically, think about what's going to happen...

A chap has his 2 bedroom property on the market for 300k. A few weeks later he gets no offers, so he adjusts his price to 270k. This price reduction continues and eventually interests several people.

What happens then?

You will be outbid by the elite who can afford bigger mortgages, because of their larger salary. Im afraid thats the way it's been, and thats the way it will always be unlress you can think of a reason why not.

The best way of obtaining a property, is simply to earn more. Don't you agree?

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The best way of obtaining a property, is simply to earn more. Don't you agree?

Totally.

It's just that your pound, such as it is, goes further if the general level of the market is lower.

But you really got me worried now that the semi in Guildford that I have my eye on will be cuelly snapped up in front of my eyes by JK Rowling or Posh Spice :(

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A prize goes to the first one of you in this forum to buy a property after the so called "crash".

Realistically, think about what's going to happen...

A chap has his 2 bedroom property on the market for 300k. A few weeks later he gets no offers, so he adjusts his price to 270k. This price reduction continues and eventually interests several people.

What happens then?

You will be outbid by the elite who can afford bigger mortgages, because of their larger salary. Im afraid thats the way it's been, and thats the way it will always be unlress you can think of a reason why not.

The best way of obtaining a property, is simply to earn more. Don't you agree?

In the previosu crahs no one was buying because it was accompanied by a recession and property coupled with the high interest costs was a lousy investment.

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A prize goes to the first one of you in this forum to buy a property after the so called "crash".

Realistically, think about what's going to happen...

A chap has his 2 bedroom property on the market for 300k. A few weeks later he gets no offers, so he adjusts his price to 270k. This price reduction continues and eventually interests several people.

What happens then?

You will be outbid by the elite who can afford bigger mortgages, because of their larger salary. Im afraid thats the way it's been, and thats the way it will always be unlress you can think of a reason why not.

The best way of obtaining a property, is simply to earn more. Don't you agree?

So the elite(WTF) want ex council,terraced or average semi do they.......very fecking elitist.

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You will be outbid by the elite who can afford bigger mortgages, because of their larger salary. Im afraid thats the way it's been, and thats the way it will always be unlress you can think of a reason why not.

1989-1995?

The best way of obtaining a property, is simply to earn more. Don't you agree?

Yes. So it's a good job that teachers are getting a rise to £35k a year starting salary, along with nurses, firefighters and police :rolleyes:

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if your waiting it out you need to wait until AFTER the crash not a couple of years in, when no-one wants to touch property with a barge pole (1995) you should get the biggest mortgage possible, offer well below the asking and lie and cheat....

in 1995 up north some houses were being sold for 50p each! Terraces across the country were 1x to 2x average income (14k-30k). are you saying 1995 wasn't possible and didn't happen?

Edited by moosetea

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Tell us something thats new about your scenario- there have always been people with money who could do exactly what you say- but they dont- why, cos they are not stupid-

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A prize goes to the first one of you in this forum to buy a property after the so called "crash".

Realistically, think about what's going to happen...

A chap has his 2 bedroom property on the market for 300k. A few weeks later he gets no offers, so he adjusts his price to 270k. This price reduction continues and eventually interests several people.

What happens then?

You will be outbid by the elite who can afford bigger mortgages, because of their larger salary. Im afraid thats the way it's been, and thats the way it will always be unlress you can think of a reason why not.

The best way of obtaining a property, is simply to earn more. Don't you agree?

What a load of B******S

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A prize goes to the first one of you in this forum to buy a property after the so called "crash".

Realistically, think about what's going to happen...

A chap has his 2 bedroom property on the market for 300k. A few weeks later he gets no offers, so he adjusts his price to 270k. This price reduction continues and eventually interests several people.

What happens then?

You will be outbid by the elite who can afford bigger mortgages, because of their larger salary. Im afraid thats the way it's been, and thats the way it will always be unlress you can think of a reason why not.

The best way of obtaining a property, is simply to earn more. Don't you agree?

Yes, the same thing happened in the last crash, and in Japan, and in Hong Kong, and in America and Ireland right now.....

Actually, you don't know what you are talking about.

People with money don't get rich by buying things that are falling in price. That's why they have money.

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The best way of obtaining a property, is simply to earn more. Don't you agree?

I assume you've been stuck down a mine or fighting your way out of the jungle for the last five years.

Today you can just choose x5 mortgage instead of a x4 mortgage. Requires little or no effort.

Its an amusing argument though. But at the moment you still get a few people that aren't the Duke of Westminster buying the odd ex-LA flat so perhaps there is a flaw in your reasoning? ;)

Edited by Cogs

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Guest DissipatedYouthIsValuable
A prize goes to the first one of you in this forum to buy a property after the so called "crash".

Realistically, think about what's going to happen...

A chap has his 2 bedroom property on the market for 300k. A few weeks later he gets no offers, so he adjusts his price to 270k. This price reduction continues and eventually interests several people.

What happens then?

You will be outbid by the elite who can afford bigger mortgages, because of their larger salary. Im afraid thats the way it's been, and thats the way it will always be unlress you can think of a reason why not.

The best way of obtaining a property, is simply to earn more. Don't you agree?

May I possibly just say "Awooga!". You are Kirsty Allsopp and I claim my five pounds.

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A prize goes to the first one of you in this forum to buy a property after the so called "crash".

...

You will be outbid by the elite who can afford bigger mortgages, because of their larger salary. Im afraid thats the way it's been, and thats the way it will always be unlress you can think of a reason why not.

Haha! According to bulls, it was the buy-to-let crew who were going to "outbid" us! :lol:

Seems like they are fast becoming extinct with the likes of N Rock all but closing its doors! Bradford & Bingley next victim perhaps?

So now it is the nebulous "elite" who will pip us to the post! Yes, I can just see Warren Buffet snapping up that 4 bed in Surrey! :lol:

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Guest An Bearin Bui
You will be outbid by the elite who can afford bigger mortgages, because of their larger salary. Im afraid thats the way it's been, and thats the way it will always be unlress you can think of a reason why not.

The best way of obtaining a property, is simply to earn more. Don't you agree?

What makes you think the posters on here don't have large salaries? I do and could afford to buy with my partner and we have a chunk of money to "invest" too but here's why I'm not buying: a.) the market's obviously peaked so it's the worst time to buy, b.) I'm not sure I want to stay in the UK for the next 10 years and c.) I don't fancy being indebted with a stupid mortgage and would rather buy with cash as my parents did.

Also: "This price reduction continues and eventually interests several people" is a very big assumption to make - an asset that's falling in price won't necessarily attract several people. You're confusing the current boom market with a crashed and burned market - buyers will no longer be queuing up around the block and camping out to make offers. Buyers will be thin on the ground as they won't be able to get credit and the "elite" as you call them will have long moved on to the Next Big Thing.

By the way, aren't the elite made up of people like hedge fund managers, private equity investors, property magnates and loan sharks these days? Can't see too many of them surviving the credit crunch with bags of money to spend.

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So the elite(WTF) want ex council,terraced or average semi do they.......very fecking elitist.

Rental income is rental income. It doesn't matter where it comes from.

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A prize goes to the first one of you in this forum to buy a property after the so called "crash".

Realistically, think about what's going to happen...

A chap has his 2 bedroom property on the market for 300k. A few weeks later he gets no offers, so he adjusts his price to 270k. This price reduction continues and eventually interests several people.

What happens then?

You will be outbid by the elite who can afford bigger mortgages, because of their larger salary. Im afraid thats the way it's been, and thats the way it will always be unlress you can think of a reason why not.

The best way of obtaining a property, is simply to earn more. Don't you agree?

I think you are right. There was a survey a little while back of members' incomes on this site and I was struck as to the large proportion who had modest incomes. I think many members are jealous of home owners and landlords and spend too much time posting rather bitchy comments and being full of glee about hoping to see a recession sweep the land.

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I think you are right. There was a survey a little while back of members' incomes on this site and I was struck as to the large proportion who had modest incomes. I think many members are jealous of home owners and landlords and spend too much time posting rather bitchy comments and being full of glee about hoping to see a recession sweep the land.

I have a modest income and have bought 5 homes for cash since 1994; 3 in London and 2 in Wales (I don't like mortgages because they tie you down to generating income). According to the theory espoused by the OP, I should have lost out to some leveraged high-earner every time. It's arrant nonsense.

(typo)

Edited by huw

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