laurejon Posted March 9, 2008 Share Posted March 9, 2008 The market is turning, the ship is stalling, and not all potential FTB's [First Time Buyers] out there really do understand the situation right now. Because if they buy into this crazy market now, they will be signing their lives away - literally comitting hari kari.ALL FTB's out there -- HANG ON IN OUT THERE!!!!! Whatever, whatever, WHATEVER you do, do NOT buy now. After all the total bull***t of the last 5-6+ years - you have now JUST turned the tables. The boot is on the other foot, the sellers are begining to feel what you have felt like for years now; scared. Suddenly, those smug sellers, speculators, BTL's, mortgage fraudsters etc etc. are smug no more - why? Because all you FTB's out there realised (1) "value for money" ain't there AT ALL; we all know this clearly. (2) That all you had to do as a collective group of people - i.e. - FTB's - was to stick 2 fingers up to the whole crazy, hyped up pile of horse***t that the housing market has become - and simply say "NO! We will NOT pay that stupid, insane price!". And by simply doing that, the entire market would eventually stop DEAD in its tracks. You have achieved what was always actually possible; you have stopped the whole PR organised, vested interest-led Mass Pyramid-Selling Scam - with all the rigged tv programmes, newspaper articles, media infestations of LIES, sophistry and rip-off scams galore. Now, whatever you do, do not blinkl first! That is EXACTLY what they are dying for you to do. Do not let the bulls***ters out there con you into the market with all there "buy now or else" cr*p. JUST WAIT; very very patiently. And this is the KEY, all you FTB's out there; You HAVE THE POWER: You are the tap from which the water flows out into the market: If you stay out [i.e. off], the flow stops. The water dries up. THE SO-CALLED "HOUSING MARKET" HAS BEEN HYPED UP FOR YEARS AND YEARS BY MORTGAGE FRAUD & LIAR LOANS..... [sEE BELOW] Let the prices come down 30%; then 40%; and then 50%; and then 60%. And only then, only then, start to consider making offers. Teach them all a really sobering leson; teach them all the taste of their own medicine; prices can go up 300%, yes..... but they CAN ALSO GO DOWN 60% TOO!!!! Teach them!! Play it really, really cool. Good luck. Sound advice, wait until prices drop 40% and pay 100% more for the finance provided you have a massive deposit and a job that is so secure the credit crunch analysts will offer you a mortgage on a volatile asset ? In three years time, even the mention of the word mortgage in a bank will be met with horror and amazement resulting in security being called to escort you out of the building and into the local madhouse. Quote Link to comment Share on other sites More sharing options...
eric pebble Posted March 9, 2008 Author Share Posted March 9, 2008 In three years time, even the mention of the word mortgage in a bank will be met with horror and amazement resulting in security being called to escort you out of the building and into the local madhouse. We wish. WHY do people blindly and blithely ACCEPT the fact that a MORTGAGE CO: gets between you and a house ---- All that happens is you end up giving a Mortgage Co: a HUGE MASSIVE WAD of YOUR MONEY for the rest of your life!!! WHY DO PEOPLE ACCEPT THIS STATE OF AFFAIRS!?!?!?!? The ACTUAL cost of the house [25-30k] if their was no mortgage co: is ignored. All you're doing is just paying them an enormous sum for nothing --- the "house" itself is totally irrelevant - you're paying them a lifelong fee..... Quote Link to comment Share on other sites More sharing options...
Lyndsey Posted March 9, 2008 Share Posted March 9, 2008 (edited) How much did you spend, what type of property and where?It does look like you will have to be commited to staying there for a while. We bought a semi detached bungalow in north wales. We got the price down to £110 thousand from £115 as he had been messed around by a previous buyer. We gutted it (we have a family of tradesman) and it is now on the market for £125 and has been for 2 weeks. It's in a nice area, we just need something bigger. It was only to get us on the ladder. I do worry a little, if we do see a massive crash we will have a high mortgage on a house worth less than we bought it for. We would then have to ride it out I guess... Edited March 9, 2008 by Lyndsey Quote Link to comment Share on other sites More sharing options...
Not Long Now Posted March 9, 2008 Share Posted March 9, 2008 We bought a semi detached bungalow in north wales. We got the price down to £110 thousand from £115 as he had been messed around by a previous buyer. We gutted it (we have a family of tradesman) and it is now on the market for £125 and has been for 2 weeks.It's in a nice area, we just need something bigger. It was only to get us on the ladder. I do worry a little, if we do see a massive crash we will have a high mortgage on a house worth less than we bought it for. We would then have to ride it out I guess... I wouldnt worry too much. What will be will be. From experience of my friends who have just bought as FTB's (against my advice), - some people are still buying. Either way though, if you have minimal equity in any property you would need to be prepared to stay there for a while if need be. Just make sure your finances are in order, and you have money saved for a rainy day if need be. Unlike some people on here, I don't really want to see normal people get hurt by the impending house price crash. Some people just want to get on with their lives and own a property, (although I think that this part of the British psyche needs a re-adjustment along with House Prices). BTL's and the greedy are the ones that I hope suffer. So good luck...! Quote Link to comment Share on other sites More sharing options...
peepers Posted March 9, 2008 Share Posted March 9, 2008 Why buy when prices are falling? - Illogical captain! If the majority are willing to hold off for 1 to 2 years then falls of 20%+ could happen I read recently that sellers who are keen to sell are advised to drop their asking price by 5-10% for each 3 months their property stays on the market Quote Link to comment Share on other sites More sharing options...
Injin Posted March 10, 2008 Share Posted March 10, 2008 Sound advice, wait until prices drop 40% and pay 100% more for the finance provided you have a massive deposit and a job that is so secure the credit crunch analysts will offer you a mortgage on a volatile asset ?In three years time, even the mention of the word mortgage in a bank will be met with horror and amazement resulting in security being called to escort you out of the building and into the local madhouse. Or you could just..y'know..buy one without a mortgage. Oh and I said it before I'll say it again - What banks? Quote Link to comment Share on other sites More sharing options...
expatowner Posted March 10, 2008 Share Posted March 10, 2008 THE SO-CALLED "HOUSING MARKET" HAS BEEN HYPED UP FOR YEARS AND YEARS BY MORTGAGE FRAUD & LIAR LOANS..... [sEE BELOW] FORUM RULES Moderators and administrators monitor your compliance with these rules and dispense disciplinary action at their discretion. • No irritating posting styles, including use of all caps and excessive punctuation. I'm sure we can make an exception for you though Eric. Quote Link to comment Share on other sites More sharing options...
eric pebble Posted March 10, 2008 Author Share Posted March 10, 2008 Your Passion is admirable in a way, Eric.But if they dont get it by now, they are probably just TOO THICK, and deserve their sad fate as debt slaves. Dont waste too much energy on those that want to remain clueless Sigh........... I'll keep trying..... Got to so something good.... Quote Link to comment Share on other sites More sharing options...
eric pebble Posted March 17, 2008 Author Share Posted March 17, 2008 Your Passion is admirable in a way, Eric.But if they dont get it by now, they are probably just TOO THICK, and deserve their sad fate as debt slaves. Dont waste too much energy on those that want to remain clueless bump heh heh heh ! Quote Link to comment Share on other sites More sharing options...
peepers Posted March 19, 2008 Share Posted March 19, 2008 How big a discount do you want? It's up to you - Just don't buy People buying now must be buying at a discount or not mind going negative in the short-term Asking prices could drop around 5% for each 3 months a property remains unsold so whilst you are saving the prices will keep falling Quote Link to comment Share on other sites More sharing options...
South Lorne Posted March 19, 2008 Share Posted March 19, 2008 The market is turning, the ship is stalling, and not all potential FTB's [First Time Buyers] out there really do understand the situation right now. Because if they buy into this crazy market now, they will be signing their lives away - literally comitting hari kari. ......lenders should be told ...whatever you do ..don't put them on the snake....if you do it should be seen as misselling.... Quote Link to comment Share on other sites More sharing options...
peepers Posted March 20, 2008 Share Posted March 20, 2008 ......lenders should be told ...whatever you do ..don't put them on the snake....if you do it should be seen as misselling.... The only people buying now must be those with property to sell - if they can sell it that is! The prices are vastly over-inflated and borrowing is being tightened - A double whammy for EAs! People must now be realising 100k is in fact a massive loan so aren't willing to take on massive debt right now If prices dont get reduced they won't possibly sell the properties! Quote Link to comment Share on other sites More sharing options...
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