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Oops! I know, I should have posted here first, but enthusiasm got the better of me.

I bought in '77 and sold again in '88. I bought again in '88 and sold in 2000, so I've got some history. I am in Germany, where I have lived for 7 years. Here, I bought in 2003 and sold today. UK HPI is a matter of interest for me as I am not only priced out of the housing market, but also out of my homeland. Mind you, I do think the view from here is better, most of the time.

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I forgot to post here first too. Posted my situation in the "buy or rent" thread so I won't repeat it.

To me, the housing bubble is like a bath where the credit tap was turned on full blast. The tap has now been almost completely turned off and the water level (prices) should be falling, but the government have been doing everything they can to block the plughole as doing anything else would see so many pulled down the hole into oblivion. Yay for metaphors! Not sure it stands up to too close an inspection, but I think it paints a realistic picture.

Once the blockage (largely consisting of low interest rates) is cleared, will the water gush out though, or will it lower slowly? The difference between a crash over 1 year or 5 years is huge.

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Hi

Have been watching the market with interest for a few years while getting my ducks in a row to buy somewhere I'd actually like to live in for a reasonable period of time. Like others have been predicting a serious fall, and expect to see it in next couple of years.

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Hi all,I've been renting the last few years and saving up to buy a house, but in the current market I think I would be better waiting until prices come down.And I'm fairly certain that they will.

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Havn't made a post on here as of yet, so here goes.

27 yr old male from the west midlands.

Purchased my first place in 2005, 2 bed flat (luxury apartment) :rolleyes: , managed to sell in 07 with a small proffit, was going to rent and save for a while, however a friend of the family was immigrating to portugal and wanted to sell there house without estate agents.

Made a deal with them that we were both happy with, so currently living in a 3bed semi trying to boost my savings as much as i possibly can, still not sure whether or not to overpay on my mortgage or keep my savings in cash.

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Hi All,

Been on the site a few times before after seeing it mentioned in the media/press - but now being in full time employment with some savings I have taken an interest in property - only an interest as there is nothing affordable for me in London.

Have considered Shared Ownership - but I simply dont trust them.. the idea of putting down a £10k deposit and owning 25% of a property you will almost certainly see no profitable return on (in the next few years at least) doesn't make sense. There are some nice SO properties out there, but I'll stick to renting and saving for now as most people on this board seem to recommend!

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Hello all,

Long time reader of the site, and now thought I should do the decent thing and get involved...

31 yr old single guy, living with parents (the two may be connected :blink: but they only live 10 miles from work). Have been accumulating a deposit since finishing university in 2005, but really upset about the thought of me having to spend 50k to get in the game. My sallary's ok and pretty secure, and at a stretch I could get something - but frustration is starting to turn to anger about those who bought beyond their means and are being kept afloat. Perhaps I'm old fasioned in that "if you can't afford something, don't buy it". One can only hope me biding my time will pay off eventually - but I just don't see it at the moment :(

Anyway... love the site for the wealth of knowledge about the housing market and economy - and hope to contribute in the future...

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Hi everyone,

I have been reading on and off for years but I have joined because the worm finally seems to have turned. I am based in London and renting. But inherited a large amount of money whilst in my final year of university (now 25) - enough to buy a modest one bed flat . So far I have been so terrified of doing the wrong thing I have had it stuffed in a bond while trying to be sensible and save some money of my own. I still have no idea what to do about where to buy and when but I am now also terrified of inflation erroding my money.

Thanks in advance

jiggles

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Hello everyone,

I've been lurking around the site for far too long so decided its time to get involved. I don't have any specialist knowledge I'm afraid, but nevertheless I do hope to be able to make some valid contribution to the debates on this site. I'm utterly convinced that house prices in the UK are teetering on the edge of an abyss. When they fall over that edge, the financial pain will be remembered in the folklore of future generations. Hopefully, the period through which the people of the UK (and elsewhere) are about to journey, will go down in history as the time when the great lessons of economic life were learned, and one where the mistakes of debt based speculation were recognized and decisions were made that they would never be repeated.

I hope this is so. And also I hope that ordinary people, who fell foul of the get rich quick and without effort madness of house price inflation, are not too badly burned in the coming conflagration.

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Hi everyone,

I have been reading on and off for years but I have joined because the worm finally seems to have turned. I am based in London and renting. But inherited a large amount of money whilst in my final year of university (now 25) - enough to buy a modest one bed flat . So far I have been so terrified of doing the wrong thing I have had it stuffed in a bond while trying to be sensible and save some money of my own. I still have no idea what to do about where to buy and when but I am now also terrified of inflation erroding my money.

Thanks in advance

jiggles

Hi Jiggles,

Although I too am a "newbie" here, I could not help but feel I should reply to your post. I have lived through quite a few booms and busts involving the housing market, so you might like to consider what I say. In my opinion, the biggest mistake you could make at the moment is to make a hasty decision about what to do with your inheritance. Wait and see what will happen, say, for a year. This is a very low risk strategy. At most, you risk losing a little of the purchasing power of your money to inflation. But inflation is a very slow actor. Its not going to suddenly explode in your face. A year from now, perhaps sooner, you will see clearly if house and flat prices are trending up or down, and you will be able to buy in, or stay out accordingly. My guess is you will be thanking your lucky stars that you chose not to buy, and took a small gamble on losing a little against inflation.

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I'm a marketing consultant now (dont let that put you off !!) but used to work for one of the high street banks doing various roles including a stint as lending marketing manager.

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French follower of this site (as history showed that the London market often moves in advance of the Paris one (by two quarters), I finally decided to subscribe to post in transversal threads regarding house prices. The French market is even more frothier than the UK market relative to earnings, so I totally feel your pain!

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Followed the site for ages but keep losing my password for the forum :D

27 year old renter eagerly watching prices plummet around me... Waiting to buy the day the Express says property is dead money.

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French follower of this site (as history showed that the London market often moves in advance of the Paris one (by two quarters), I finally decided to subscribe to post in transversal threads regarding house prices. The French market is even more frothier than the UK market relative to earnings, so I totally feel your pain!

http://fr.wikipedia.org/wiki/Armand_Jean_du_Plessis_de_Richelieu

Hi and welcome to the forum

Are you "Richelieu ?" born on the 9th of september 1585 in Paris ?

Died on the 4th of December 1642 in Paris?

I hope that you are not into religon as you know Richelieu was a French Cardinal

I hope that you are not the Cardinal de Richelieu ghosts etc i am scared of ghosts!!

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Hello,

I've just joined the forum. I don't know if I'm a bear or a bull - it would make sense for prices to fall a long way from here, but then the market rarely seems to make much sense! There does seem to be a genuine problem in the UK, a divide between the rich and average that is widening more and more, so if an adjustment in house prices could correct that then let's keep our fingers crossed. I just hope not too many people are hurt on the way down.

Penelope

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I've tried to post elsewhere on the blog. Here's hoping this works.

Yes.. welcome!

99 pages of new members.. who's going to make it a century..........

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Yes.. welcome!

99 pages of new members.. who's going to make it a century..........

Well I might as well have a crack at it :D

Oh well, I think I will skip the lottery this weekend.

Edited by Zing

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Hi

This is my first post here. I have been reading economic blogs since the crash and was surprised there wasn't many UK blogs most seemed to concentrate on the US.

The best blog I have found is zerohedge.com.

Glad I found this blog

I had to leave the UK yeards a go to earn money and escape tax so I could save for some property.

After 10 years saving i now have two buy to let flats in Bedford and am now looking to buy around Milton keynes but am still astounded at the prices.

They seemed to be going down but now they seem to be going back up. How does the market defy gravity so much?

I would expect prices to come down at least 25 percent from here but UI have been saying that for a over a year and this year they went up 7 percent.

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I suppose it is time to say hello.I am here at this forum due to a comment made to me from someone i respect.On hearing that I was considering moving from a flat to a house,asked why I wanted to do that when property values are 30% too high.Now to be honest that was the first time that had been said to me.Istarted looking into it and found this place.It has been a bit of a wake up call to say the least.I don't understand too much that I read here but enjoy it all the same.So thanks all for helping me on my journey from sheepleness to insight.Downside ofcourse is that I am now seen as a bit of a doom monger.

Anyway hello all

b and b

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Hello

I have been 'watching' my dream house not sell for 6 months, but the estate agents have put a strict offers over on the price and virtually stopped any offers. How crazy in the current environment (almost as crazy as me still wanting to buy!!) :wacko:

Edited by Darcey

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Will I make page 100!

I have been a HPC lurker for years, probably at least 4. I used to like reading the opinions on here and knwo that I wasn't the lone voice amongst everyone else who kept saying prices will never fall , can never loose blah blah, (although did find a fellow HPC fan at work).

I gave up on owning a home when the last HPC never seemed to take off; then got made redundant last year and was on probation so stopped looking really. I could have afforded a house but would have been a right dump, so have been holding on for ages.

Got fed up of waiting to buy a house with prices never falling in my area. Of course typically as soon as I found a house I liked and put in an offer and thought sod it, don't need to borrow much more than a couple of times salary, got a deposit, mortgage is cheaper than the rent, OH is working part time due to redundancy, so in a 'strong' position....

But of course as soon as I decide to cave in, the worm finally turns !!! I like the house but luckily its going very very slowly and the more bearfood I read the more wobbles I am having - I do like the house but sure there are many like it. House was on for 110 originally and paying 95. Its in a nice area, terraced, good nick and perfect for my dog sitter (after loosing job have to commute 25 miles each way and will struggle with working hours now when OH goes back) Know what I want to do! although worried about loosing my 91 a day as per the Express

Been looking at the terraces around here and the good ones have held their price but the poorly maintained ones in not so nice areas are starting to have 10k shaved off, then some another 5 over the past few months. Others won't give in!

What i find most annoying is everyone who says to me "it will all work itself out over the years so just go for it" and they don't seem to understand I don't want to pay 95k for something this week thats worth 80 next year! Even my mum is telling me everyone says its not a good time to buy.

So kinda drifting along, renting a bit of a hovel; but its cheap and home; we have an agreement with the landlord - we don't ask for repairs and he doesn't put the rent up!

Been meaning to join for ages and theres been a couple of discussions wanted to join in on; sometimes don't always understand some of the financial stuff, but I do understand the crash cycle, and that its never been bucked as yet!

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This is my first post on this forum but i have actually used this site for quite a while as it has provided me a great source of articles... without me having to look all over the web for them.

My background is Economics graduate and currently part qualified chartered accountant and will have a second graduate degree next year from Oxford in applied Accounting.

I have always like most of the country been fasinated by properties, but after studying them 5 or 6 years ago realised the fundermentals are wrong for the 10%+ in property prices that we were seeing year after year.

I keep hearing the argument that we are an island, but prices in the UK rose faster than in the US or anywhere else for that matter (perhaps not Spain) which i feel takes into account of the shortage of supply.

In any recession where the money supply is constraint, where deposits go from 0 to 25% you would expect property prices to crash.... but they haven't and its puzzling me. I read alot of articles about it and i found the bubble article (i forget who wrote it sorry) really interesting and amazing that the graph pretty much replicates what is happening now.

Interest rates have definitely protected the market, kind of protected the bubble from popping.... and it will be interesting to see when rates rise, and its likely they will rise faster than people think to starve off inflation what will happen in the Economy, to employment, to the younger generation (that i am part of) and how fast and far house prices will go down.

I am surprised it hasn't happened yet... and i do hope i am right because it still seems that everyone around me things there isn't anything wrong... its bizzare! Friends have recently bought 600k homes.... and i can't help think they could be worth 400 or 300k in a few years...

Maybe prices will be flat and inflation will take the real value out of prices... but i just don't see bubbles bursting in that way alone... i would love to hear from you all, especially from people who can share with me resources and have similar problems to me.

Will this bubble ever burst?

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Hello All

First post here for me, though I have been reading on these forums on an almost daily basis since 2007. I didn't register earlier because, being an engineer, I didn't have much to contribute to any discussion but enjoyed reading them nonetheless.

Obviously, I have no thoughts about buying anytime soon. I remember gazing in amazement a few years ago at the ionospheric prices, wondering how the ruling came about that if house prices were high, it was universally seen as a good thing, but this ruling applied ONLY to house prices and nothing else (food, clothing, petrol etc.) Many otherwise intelligent people that I knew just seemed to accept this without question, saying "house prices only ever go up" and "in fact, I read that now is a perfect time to buy". :huh: So what should those people who don't own a house, wish to buy one and only wish to live in it do? These things puzzled me at the time but I like to think that after reading here for a while, I have a better understanding of why they are happening the way they are.

I am currently living in Mid Western USA (temporary resident), I know that cities around here have seen better days, but it still really strikes me that 4 or 5-bedroom detached houses with complete basements and huge yards in desirable neighbourhoods are within reach of most professional Americans.

One other thing that I always found puzzling (perhaps I need to trawl through that monstrosity of a post "Australia faces its demons" to find an answer) is that although, as far as I can see, Australian cities and suburban homes seem to be rather similar to their American equivalents - similar road layouts, plot sizes, floor areas - is why the property of one country so much more expensive than the other.

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  • 221 Brexit, House prices and Summer 2020

    1. 1. Including the effects Brexit, where do you think average UK house prices will be relative to now in June 2020?


      • down 5% +
      • down 2.5%
      • Even
      • up 2.5%
      • up 5%



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