People need to stop thinking about wether the house is rising in price and more about the fact its a home for them to live in. Rents are far more expensive than mortgages and all the cheap council housing is long gone so if you want somewhere cheap to live either buy a caravan or buy a house

 

Just to add.
Largest number of births recorded in the uk recently!!
Where are they all going to live.
Houses?
You need to snap them up now and get in first ready to cash in.!!
Obviously a long term project.
Enjoy !!

I could have been selfish and kept this to myself but ......

 

Thanks for sharing that with us Pete

 

very true

my parents house in West London



bought in 1971 (my dad took a big risk as his offer was accepted and contracts signed before he had the mortgage in place)

paid off in the late 80's by my younger brother (as a jokey xmas gift) on his credit card (interest free off course) for about the same £ as a good monthly salary

valued 2 years ago at 1.5k, in ten years - who knows

 

£1.5k is a bargain.

I reckon in ten years it'll be at least 3 grand.

 

Quit it now !!

 

True, but a slight increase in 'natural demand' doesn't neccesery cause prices to sky rocket, go to the moon etc,. How are these massively expensive houses going to be paid for in the future, more government subsidy, 100 year mortages, 200 year mortages?

 

Another 1/2 million Bulgarians coming soon

 

Very nice pad.

I have great respect for people that are willing to take a chance like that. I overstretched myself a couple of years back and even more so at the beggining of this year, but things are now starting to come good.

 

Well done you for in effect being bailed out by the government at the expense of savers, taxpayers and non home owners. As if taking a risk deserves its own reward! So brave, so bold!

 

Please government stop people who haven't paid off for the first home from buying a second as a buy to let.

These people only make jokers for landlords.

 

this does depend where you want to live, based on 70k mortgage being £400 a month over 20 years a 3bed rabbit hutch down here at 150k would be about £800-£900 a month, they are renting for £650-700 a month, i only got £750 a month renting out a 4 bed bungalow with massive garden and off road parking for 7-8cars, called it a day am living in it now and sold the 3bed end terrace for £159950

 

Thanks.

No need to be so bitter though.

 

Perhaps if you did the same several years ago, you'd be in a place of your own and not renting. Still not too late to get a place of your own. The longer you leave it, the harder it will be as you know, prices are going up again. Get on the Government's Help to Buy scheme, even if it is at the expense of the savers, taxpayers and non home owners. Get something back from the taxes you pay.

https://www.gov.uk/affordable-home-o...y-equity-loans

 

Yeah Tony you'd best hurry as prices will never go down ... the UK is on the mend and everything is going to be just fab forever

 

The thing is F1 that many who wait for prices to come down don't then act when prices actually do. Prices fell in 2008 for a few years but it takes ***** to then invest in an asset that you are constantly told is falling in value.

Also when the prices are falling banks tend not to want to lend money.

A combination of these two factors meant loads of housepricecrash type jokers just sat on their hands when there were bargains to be had.

I'm not sure what they were waiting for. Did they really think people would give their houses away for a few quid?? Houses will never be cheap enough for a certain mindset of person. They basically want to buy a house with their savings, this works for a few people but not the majority.

If in a couple of years time we see a correction of 10,20, 30% they'll still sit on their hands because they'll not have the ***** to jump in. Then they'll cry and be bitter all over again when prices start to rise once more.

This is the vicious cycle that many renters get themselves into, and then they become bitter old men like TDW

 

Sour grapes from the splinters in the **** fence sitting mob

 

Agreed, I started buying a few in 2008, some of my friends thought I was mad and was going to lose everything etc. A couple of them still rent the same flats they were in at the time.

A couple were in a right state when I bought them, but after a lot of hard graft and sacrifice the yields now are pretty

 

It's a complete fallacy that houses don't fall in price because people 'just won't sell'. Just look at places like spain where prices have fallen considerably. People die, get divorced, need to move, etc., people can't afford mortage payments, etc, homes get repossessed. Prices are based on actual transactions, there will always be houses being bought and sold.

What the 'bitter' housepricecrash brigade didn't see was the resources the state would pour into propping up and then reinflating the market, more ruthlessly than any Stalinesque 5 year plan.

House prices are up Comrades!

 

I think that's called the lemming investment philosophy.

 

I think that's called the lemming investment philosophy.

 

In Spain they also built speculatively ad infinitum

Which can't do much for prices.


Ding is correct - am I'm proof of that, I could have bought a couple flats as well as place live in in 2008 but was waiting for more falls which didn't really happen because live by the South coast and I realise now market is buoyed by people retiring here.
That and I intended (too vaguely ) to invest abroad

 

Btw

I'm pretty sure in reality tdw lives in a five bedroom detached property

 

OOOooo get you

 

Do you ever actually read posts before you start regurgitating your same old rhetoric? When have I said prices haven't fallen in the past or won't fall again?

I've said the exact opposite in words that even a five year old could understand. Prices did fall, but those without ***** didn't act.

Similarly I said when/if there is a correction in a few years time history will repeat itself and many people who have been praying and banking on a correction won't act again. Because the correction will never be big enough for them, and they'll not have the ***** to buy in a falling market.

 

If that's in the sort of area I think it is then it'll be worth a lot more than £1.5mill today.

I've seen single fronted houses in lesser areas like Fulham that need complete refurbishment being fought over for circa £1million.

Anyway, good luck to your dad and it is a gorgeous looking house.

(ps does he know his son is a champagne socialist?)

 

Buying in a falling market is notoriously risky, but if course we don't have a 'market' we have a state sponsored Ponzi scheme.

 

My point was to knock over this idea that people 'just don't sell' when house prices fall. It's a platitude I have heard people like pslewis spouting before thinking it protects house prices. What is protecting house prices in the fiscal muscle of the state and the monetary policy of the BofE.

 

Yes it is risky, thanks for stating the obvious.

You aren't prepared to take a risk, which is your decision, but please don't be bitter and angry about people who do and then make good

 

Ahah, my father is an unreconstructed Tory, slightly to the right of Attila the Hun,

He agrees with me in passing but I can see the "blue" in his eyes, - he just does it out of love!!!