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ianbeale

Strs - When Will You Be Looking To Buy Back In

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something all STRs need to be thinking about as the next chahge in direction in the market will be from down to up

You are in deed absolutely correct, the only fly in the ointment being that the currrent downward direction will have to come to a halt first before it can change direction. In around 2-3 years time :lol:

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something all STRs need to be thinking about as the next chahge in direction in the market will be from down to up

I expect the price of flats to crash very quickly with new-builds and ex-LA moving into fire sale territory October / November 2009.

I will probably buy a small flat then as it will be cheaper than renting, even though prices might still be drifting down for a couple of years.

Stay in the flat until the really nice properties finally hit the bottom, and buy a nice big house for the rest of my life.

At which point the flat will become a rental investment, ready to sell off in the next bout of mania.

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Guest The_Oldie

The beauty of being in cash is that you can react quickly to market changes making it easier to buy back in at the right moment without the need for too much forward planning.

I voted 2011+ but that is a guess at the moment, it could be another five or ten years, who cares, when the market looks to be near the bottom I shall consider buying.

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2011 when the 50%+ drops have finished.

Yep, Me too. 2011 and -50%+ and even then I am going to haggle like a ba`stard. We took a risk and it looks like it will pay off.

Between now and then we are going to live on the cheap and not only let the interest mount up but we are also saving from my wages and living life in the cheap lane. I think this is going to be the way of the future anyway so we may as well get used to it now.

We will end up with cheaper housing but we all know enegry costs are going to bite hard, not too metion food, petrol etc.

I`m looking forward to it though ;)

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I originally thought it'd be 2010 at least before I'd be able to afford somewhere but given the speed & severity of this crash, I'd hope to pick something up 'in need of renovation' late next year. Yes, there'll be further falls, but I imagine the worst will be within the next 18 months...

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Although I voted 2010, I'm with GOM and RFD. The right time will be the right price (30-50% of today's price in nominal terms) and I'm prepared to move quickly.

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Have been renting for over eight months now and do not find it at all disagreeable, house prices would need to drop by 60% for us to be tempted back into home ownership.

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In Northern Ireland we have seen average house prices fall by over £44k in just 6 months (figures from Nationwide reports).

I'm going to wait until prices here stop falling by £10,000 a year.

Though something has just occured to me... Some people have said that good properties were in very short supply during the last crash. So finding a good property may not be as easy as everyone thinks.

So I was going to say - the end of 2010. But I am prepared to wait for the right property.

... and of course the right price ;)

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When main contractors start ringing me to price for work they need doing, (it took about 8 - 12 months last time, I was only a whipper snapper then and lucky enough to be living 'at home' then), otherwise I would have been fooked. However, this time I am going 2011, I now live abroard (only since easter) but am still in touch with many folk back home. The company who mrs scooby worked for, heavily into construction, is on its knees ready to die, its the same firm that I subbed to last time the sh*t hit the fan, and it managed to ride the storm, not this time I think....not waiting for the phone to ring just yet.....

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Yep, Me too. 2011 and -50%+ and even then I am going to haggle like a ba`stard. We took a risk and it looks like it will pay off.

Between now and then we are going to live on the cheap and not only let the interest mount up but we are also saving from my wages and living life in the cheap lane. I think this is going to be the way of the future anyway so we may as well get used to it now.

We will end up with cheaper housing but we all know enegry costs are going to bite hard, not too metion food, petrol etc.

I`m looking forward to it though ;)Get a Life, you are only around once

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I'm not so sure. A U-shaped low may be more likely,

and so "down-to-sideways" bumping along the bottom for years even, could be very possible.

And the bottom wont be until 2010-13, as I have been saying for YEARS now

What we are seeing now is the final, complete, and awesome triumph of the STR strategy.

All the risk-happy morons who bought in are finding themselves stuck, and will likely have to ride the

market to a loss, or even all the way to the bottom.

(Cue up Gotterdammerung.)

Sounds good to me...gives time to make the right choice and decision...no rush then. ;)

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I'm not sure we ever would - or could. We str in mid 2004 and moved into the kind of country pile we could have only ever dreamt of - 30 odd rooms with a couple of acres in beautiful countryside.

It's perfect for our extra large family and on an enormous royal estate where several neighbours have been renting for up to 40 years!

Our landlords leave us to do whatever we want to the property and grounds as they see it as our home.

We have a five year renewable lease. I figure I will need to renew it about five times to see me out....

Even if property values dropped by 50% we could never afford to buy this.

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For anyone who has STR, I really hope that it works out for you. Here's hoping that when the time comes, be it 2009, 10, 11 or whenever, that your money is still "under the bed". That assumes of course, that you still have a bed by then.

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I'm not so sure. A U-shaped low may be more likely,

and so "down-to-sideways" bumping along the bottom for years even, could be very possible.

And the bottom wont be until 2010-13, as I have been saying for YEARS now

What we are seeing now is the final, complete, and awesome triumph of the STR strategy.

All the risk-happy morons who bought in are finding themselves stuck, and will likely have to ride the

market to a loss, or even all the way to the bottom.

(Cue up Gotterdammerung.)

The only "awesome STR triumph" I have witnessed on 'ere thus far is Monty who bought in 2005 and made 400K tax free inside 3 years. The vast majority of STRs on HPC sold in 2004-2005, way way to early, they missed out on not just the cream, but the double cream with sprinkles on top and IMHO no amount of justification and/or self denial can alter that fact. Cue for the STRs to cite how much they 'made' by moving into their "emerging markets" or made 1.5% over base by putting their STR fund into Euros :rolleyes:

We all knew surely the time to sell was in 2007? I watched 3 houses sell in my road over the past 8 months, the last one a record price achieved (ridiculous 400% increase over 10 years) and sold inside 2 months. Watching them move out and new owners move in I knew that was it game up for our chance to trouser a large wedge for nothing gone. That's how obvious it was. Just got to contend meself with trying to pay off mortgage inside next ten years, mightn't be the fireworks of exotic HK BTLs, but as a family bloke you often have to balance your risk>reward versus the nurture of your 'ickle gang ;)

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I'm aiming for 2010 at the earliest, but earlier if I can get a bargain. It'll also take me that long to save up 20k deposit. Unless I lose my job during the Gr8 Depression.

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....the time to buy is not a specific year ...it might be worth considering when the unions start achieving wage settlements ahead of the real rate of inflation....and / or the average house price to average annual income ratio falls to an acceptable level....it's all about timing ... <_< ....on the other hand the future may be renting if public sentiment and confidence is not there together with a general lack of funding...a specific year in the future is wishful thinking....and of course everyone's profile in this context will be different ...it may be right for some and not others at various stages.... <_<

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  • 399 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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