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The time now is 23-11-2008 |
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Joined: 17 Oct 2003
Posts: 1729
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quote:
Originally posted by clacky:
[ You would need to knock a lot more than that off for me to buy in a falling market. ]
I agree, property down 10 per cent this year so thats 10 grand down on a hundred thousand pound house ,so the chancellor is saying here is a grand discount,so you can go and lose 10 grand in a year
is he mad
cheers
You shouldn't look at it like that, i agree with being cautious in a falling market, but if the numbers add up then thats the time to buy as you buy and pay for it over 25 years, the trick is when do you step into the market, with our economy in **** might be best to wait, but might be good to go in with low offers that add up to your circumstances, put it this way, the US econemy is growing now so that will bring confidence along with a new American president.
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03-09-2008 |
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Joined: 02 Apr 2003
Posts: 344
Location: UK
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hmmmm.....Pike.
I don't share your optimism about the house market.
You stand to lose 10% per year for 3 years.
why should a first time buyer buy a house now and face going into negative equity?
Yes a mortgage is over 25 years but the danger is it that if you then can't remortgage due to being in negative equity and then the monthly amount gets too much well....we all know where that leads.
You cannot compare what is happening in the US to here.
The US do not have inflation targets to hit therefore they can slash interest rates to stimulate the market.
That will not happen here in the UK.
IMHO i would wait until at the very least 3rd Q of next year.
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Dane - P.
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03-09-2008 |
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Joined: 17 Oct 2003
Posts: 1729
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It's all comes down to Banks, if they start to borrow to each other again at decent rates then more mortgage products will appear in the market, but none of them will say who has lost what so....if Banks don't borrow to buyers then the economy is fecked, once they start to borrow again, things will pick up a little, whatever the media say, theres still demand in pockets of London where i live, just the prices aren't as crazy as last year, but there again in my area, im tward the bottom end of london market, you can get a 3 bed house for £300k upwards.
_________________
if you dont own the original destroy backups within 24hrs.
"The game is about glory, it's about doing things in style and with a flourish, about going out and beating the other lot, not waiting for them to die of boredom"
Danny Blanchflower
*** Discount on discs? Logon to DiskDepot with - username: disqworld password: diskdepot ***
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03-09-2008 |
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Joined: 02 Jun 2005
Posts: 447
Location: the green and pleasant land.
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Banks and greed are the main cause of the problems people now face.The silly sums of money they lent out,which now turns out they didn't even have in their coffers,how can you lend somebody money which isn't there?
Then the property market has been talked up for years,a so called lack of stock,people been greedy jumping on the bandwagon of buy to let,people lying about their wages to borrow more than they can afford,people remorgaging up to the hilt just to live the dream and now the government saying that the taxpayer (most of us on here) are going to be helping some of these fools out,makes my blood boil 
I've paid off my mortgage but I would like my children to be able to buy a house someday without having to be in debt until the day they die,which is what this govenment and the greedy banks would seem to prefer.
Houses are still well overpriced in comparison to wages,money isn't available to maintain artificially high prices so the only way prices can go is down.
Rant over.
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03-09-2008 |
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