Homo-wners

[gettin2dizzy]

Suck on this
http://business.timesonline.co.uk/tol/business/money/property_and_mortgages/article2759795.ece

;)

I don't think there will be a crash as such. But certainly a droop.

Any more innuendo?

[kwak zzr]

yep in our local paper yesterday it said the midlands prices dropped 0.4% its about time really.

[Flamin_Squirrel]

I'm guessing that must be an average though. I doubt, given the huge numbers of people looking for their first buy, that prices at the 'cheaper' end of the market have fallen.

[Stu]

Doesn't affect owner occupied property only investment property owners.

[gettin2dizzy]

Apparently first time buyers are out the market as it's too expensive. The majority of buyers are buying second properties as an investment and now they've decided it's too risky and are detracting; bringing the house prices down with them.

Kwak - the midlands is meant to be the most stable I think!

Definately about time, paying such a premium for a house is ridiculous. It just moves wealth in one direction.

[kwak zzr]

prices need to drop really, the only ppl that gain out of this is ppl that inherit property, if you are a first time buyer or a property owner you cant buy or move without getting into a lifetime of debt, 10 years ago 40k was a reasonable mortgage but ppl these days borrow 120k (midlands prices here chaps not london) without realizing what a huge amount of money that is, as a result of sky high property prices couples are putting off having kids because of the cost involved.

[timwilky]

During the 80 recession my twin bro turned up on my doorstep, his processions in the back of a van. He had not wanted to tell people that thinks had got that bad that his house went.

Prices falling is bad news for all. For those poor sods hit with the curse of negative equity and needing to sell. The lack of confidence that then permeates all financial matters. Suddenly, people no longer are confident to buy than new car, cut back on going out etc. Next thing you have a full blow recession

[kwak zzr]

my sister also lost her house in the 80's and said she would never have a mortgage again.

[timwilky]

my sister also lost her house in the 80's and said she would never have a mortgage again.


Never bothered him. He eventually moved into a housing association flat, They gave him 8 grand to move out. he used that as a a deposit for his next house. He then moved into a 3 bed bungalow and last week moved into a brand new 5 bed detached. Always mortgaged to the hilt, lives for today. Whenever he gets reasonable equity in a house he moves into bigger/more expensive and says it is his pension planning

[gettin2dizzy]

Never bothered him. He eventually moved into a housing association flat, They gave him 8 grand to move out. he used that as a a deposit for his next house. He then moved into a 3 bed bungalow and last week moved into a brand new 5 bed detached. Always mortgaged to the hilt, lives for today. Whenever he gets reasonable equity in a house he moves into bigger/more expensive and says it is his pension planning
He'll be the first victim again!

[kwak zzr]

Never bothered him. He eventually moved into a housing association flat, They gave him 8 grand to move out. he used that as a a deposit for his next house. He then moved into a 3 bed bungalow and last week moved into a brand new 5 bed detached. Always mortgaged to the hilt, lives for today. Whenever he gets reasonable equity in a house he moves into bigger/more expensive and says it is his pension planning

i agree its great init BUT only because the prices have gone stupid;) its when they do start dropping when ppl will say "oh why was i living for today and not thinking about tomorrow" then the pension is gone.

[timwilky]

I must be the reverse to the bro though. Own my house outright, ploughing a fortune into my pension etc. I always took the view that I would never risk the roof over my head after seeing what happened with the bro. I encouraged my lad to buy his own place instead of looking to rent etc.

As prices round here never went stupid, I think any slowdown in the price inflation nationally will simply allow prices round here to eventually catch up with the national average.

My boss wanted me to relocate. I refused as I would be unable to buy a similar house near Rugby for what I would get for selling. I did try to get them to make up the difference if I committed to remain with them for 5 years and they refused as it worked out that they would need to pay me an extra £50,000 plus the 40% Grabbing Gordon would want.

[kwak zzr]

I must be the reverse to the bro though. Own my house outright, ploughing a fortune into my pension etc. I always took the view that I would never risk the roof over my head after seeing what happened with the bro. I encouraged my lad to buy his own place instead of looking to rent etc.

i must admit i think very similar always airing on the side of caution.

[redbouy]

Buying a place is a 30 year investment in todays life. in 10 years it will be a 40 year term, I would hate to think of 20 years from now. There is no middle class these days, just ppl getting by, ppl going down and the rich. My sis has to live/work in Aussie and so her kids can still go to school in NZ, if she moved back she would be bankrupt in 2 years.