Regardless of whether or not there will be a fall in house prices, they are so high now that there is virtually a generation who cannot - and never will - get on the housing ladder.

This generation are therefore spending all their cash on, amongst other things, boozing, rather than saving for a deposit. There has apparently been a marked increase in binge drinking, partly down to house prices.

Even if prices don't fall, there will be plenty of repossesed houses to choose from when fools, who have overextended themselves with a 7 times salary mortgage, get into difficulty. This still won't help someone on an average wage, but I'll be alright jack.

This is the attitude that pervades nowadays and will continue to maintain the have and have-nots housing imbalance. Ain't it great!

 

And then what happens when all these people who'll have no alternative but to rent, reach retirement age? A pension is hardly going to pay for your rent, food, utilitiy bills etc, is it?

So the Government then get lumbered with HUGE bills to pay for Millions of people to live in Old Folks homes. And who'll pay for that? the young generation of Tax payers of course.

 

Exactly - this country is going to be in a horrendous state in 20 years time.

 

Yep - and many of these public sector projects have been in part funded by private sector borrowing - but due to the way this borrowing is set up, it is not shown as official government debt. PPI I think is what they call it - it's just a way for Brown to borrow massive sums of money without it being obvious... and I am sure he is banking of being PM by the time the bubble bursts regarding his 'wonder' economy.

Troubled times ahead definately and yes the middle classes plus younger tax payers will be fleeced to prop things up - hence road charging, green tax's and all the other smoke screens for the need to raise more revenue fast!

 

blah blah blah blah.......

When I was looking to buy my first house 3 years ago, peopl ehere said a crash was going to happen in the next 12 months - it diddnt.

If I'd listened to the doom mongers on Scoobybnet I wouldnt have bought a house and even a poxy littl eflat would now be out of my reach.

Some people on here need to remove their heads from their own ****. Perhaps then they will use some of their "great knowledge" to make lots of money, because after all if they could predict things so perfectly most of Scoobynet's users would be millionaires.

 

£18Bn government borrowing not shown as debt - that didn't take long did it?

 

Yes but the longer before a correction the bigger it is - I can't honestly say when it will happen, and do agree we may just go the way of the continent and all have to rent.

I do plan to buy a property and hopefully make money from it, but that means buying at the right time in the cycle - hence why I am waiting...

It's a bit like buying stocks - who knows how high it will go but it's certainly well above the trend at the moment. I wouldn't buy stocks if I could see they were at any all time peak so can't be convinced to buy a house on that basis either.

 

Nice link.

Tip of a very big ice berg though!

 

With £18 Billion, you'd better have.

 

Spot on Ben v7.....

Who buy's high and sells low?
really REALLY bad traders....

Never buy at the peak....always be short.....

 

Thats your problem though, unless you plan on buying lots of property and selling when youve made a few tidy profits then what the point, I thought you bought a house to live in otherwise I hear the price of chips are going up you may aswell invest in some potato fields and employ some immigrants to pick them for you

 

really? Well you keep your "high" paid city job while sleeping on your mates floor and i'll keep my high paid non city job and my 4 bed detached.

 

Don't get touchy sweetheart.....just because you've got a neat trick of talking out your rear doesn't make you right....
4 bedroom detatched house....wow.....

I'd rather get something and pay it off in one go....when prices drop...

as for sleeping on my mates floor......lol...did you think of that all by yourself?

Back on topic.....what goes up, must come down

 

Like your ego when you go home to mummy

Sorry, couldnt resist.

 

who rattled your cage?

I meant in untouched wives needing some loving affection....

The go up....and down....up....and down.....
up down up down up down...

 

I thought everybody on SN was millionaire cage fighting DJs?

 

Its not a cage, its a house (please take it light heartedly, I dont want negative feedback )

 

I know I know.....

Not negative feedback!!
den den deeeeeeeeerrrrrr

 

 

as has already been explained.....you are too late. prices are never going to drop far enough for you to buy as cheaply as you could have done.

its your mates floor for you i'm affraid.

 

Somebody has to own the houses that others rent How will they afford it if property prices are so high? When they retire from being a landlord how will they sell their overpriced property? Who to?

If rents are high then tenants may as well pay a mortgage. If rents are low then landlords won't be able to afford to run the property. There is a balance which is currently weighted towards ownership because at the end you have something to show for your money.

 

hence why i have a house so young. may enable me to retire younger or have a fully paid off mortgage younger too. and something to leave my kids when i have a family...

andy

 

I think on the continent houses are owned in large quanties and rented by funds and other instituions happy to accept a relatively low yield per year - see it as a safe bet.

I agree that atleast with buying a property you do have something to show for your money, but I just view my rent as a cost of living - as the alternative of buying my own home simply isn't feasible. Factor in the money that goes purely on repaying interest to the bank on your mortage also. It's very substantial over the 25 year period.

 

Oh no you won't. Inheritance Tax !!!!!!!!!!

 

Didn't realise inheritance tax was 100%?

 

might as well be!

 

Wait too long fella & you'll never afford it! Average house price today is £168k ish, by 2017 it's estimated to be £600k ... what will you do then if you're still waiting for the crash?

TX.

 

Snug Rhino....

These are only views....and like I say, in a few years time i'll be in a much better position to buy....do you have a crystal ball??.... no-matter what the situation.....stop getting sooooo touchy

As for sleeping on my mates floor....touchy.....

"personal insults will not be tolerated...."

 

I feel duty bound to point out that 'cripple og' lives with his mummy and daddy.

He's probably still getting 'bitty' as well judging by his fixation with motherf***ing.

 

Ha ha ha
Your back! and still following me around....

Still touchy and not coming out with anything new I see.....
Whats wrong sweetheart? did I hit a raw nerve about kicking your mum's back doors in?

On this note Toprid doesn't know me.....he lives far away and resides behind the safety of his pc....
It's all wishiful thinking on his part......