House prices

[dizzyblonde]

Originally Posted by G

This thread should be closed on the grounds that people may actually commit suicide after reading it.

will it be closed after someone announces that the world is flat and the sky could fall in any day now?

Well I think the way ahead is cheap rental places, casue until everything sorts its self out we are going to be in for a hell of a storm by all accounts.

I'm lucky I have cheap rent for London, however I do share with other people but at we all get on well. Its a good comprise between what I have and l;iving further out which would be a nighmare for work.

What does **** me off is that inflation is going up now on a montly basis and the government are doing jack shi* about when they clearly could

[G]

I'm glad my morgage is fixed at an affordable rate for another 5 years and my insurance covers me if my work goes tits up.

I'm sure I will feel the pinch eventually though, until then donington is booked for next month lol.

I think western society is far too obsessed with property. Owning your own home is over rated.

Having said that I have 13 years worth of payment left on my 15 year mortgage. I'm pretty certain I'm probably in negative equity at the moment. I'm not too bothered as I have no intention to sell up just yet. Hopefully by the time I finish paying it off, it may be worth a little bit more. If not, oh well, at least it'll be mine, lock, stock and barrel.

As for my job, as long as y'all keep up the hanky panky, I'm safe.

[SoulKiss]

It used to be that the only real use for the value of your property was in relation to other properties - values could go up and down without any real issues - a 2 bed house was worth x% more than a 1 bed and a 3 bed was worth x% more.

It only became important when it came to move house.

Then Property became the security for loans, and peoples retirement funds, and then they started to have a value as a commodity.

Thats why we are stuffed.

Oh and Shared Ownership is just a scam by the developers - they get to build a house then sell it AND keep it - the 50% share they get in cash being more than enough to cover the build cost and probably being what they would have gotten before the boom - they also had to build and sell more properties to make the kind of profits they do these days.

So unless the Gov steps in and taxes multiple home ownership to make owning 10 houses and renting out 9 of them and makes buy-to-let harder to do, the normal guy wont be able to buy their own home.

Originally Posted by SoulKiss

So unless the Gov steps in and taxes multiple home ownership to make owning 10 houses and renting out 9 of them and makes buy-to-let harder to do, the normal guy wont be able to buy their own home.

Yeah, it seems as if you either have no home, or 2!

[SoulKiss]

Originally Posted by gettin2dizzy

Yeah, it seems as if you either have no home, or 2!

Thats because once you have one to secure a second on its easy, especially when the one you bought last year is now worth twice what it was then.

Look at the number of TV shows that fed the frenzy of people buying duff houses and doing them up and making £30K+ profit - which in some parts of the country is a good years wage.

Its also worth your while leaving a place empty in come cases - most of the derelict housing along the A406 (North Circular) are owned by TfL in case they decide to knock it down to improve the road - they just buy as and when they come up to save on having to do compulsory purchase.

They should get it all done up and rent it out - would make them cash, ease the lack of housing issue (a little) and be better than leaving them as shells.

[G]

Thats is defo the way it is going at the moment......Super landlords

The rental market is booming at the moment, two people on my street moved out then the day they moved out someone moved in, they didnt even need to advertise to find someone to rent them.

They are also renting them for an absolute fortune. Both of the houses are smaller than mine, they are 3 bed, 3 storey semis with front/rear gardens garage and balconies and they are getting £800 per month without any bother at all.

You could buy your own reasonable house with that sort of monthly payment, I guess it must just be impossible to get a mortgage at the moment unless you already have one.

I think for the time being I will stay in my resesion proof employment, too much doom gloom and uncertanty to be leaving the Forces at the moment. hope it gets better before i am due to leave in 11 years time

[northwind]

Originally Posted by SoulKiss

It used to be that the only real use for the value of your property was in relation to other properties - values could go up and down without any real issues - a 2 bed house was worth x% more than a 1 bed and a 3 bed was worth x% more.

Very good post, maybe best in the thread. I want to print it on a horsewhip and use it to whip everyone who ever says "Our house is worth X more than it was 10 years ago, what a good investment" then sells up and says "Oh, we can't afford our dream home because houses are so expensive". The only people who won were people who could get out of the market, ie emigrating, downsizing, or other accomodation, while almost everyone loses at some point.