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"Houses i reckon. But it will pick back up as it always does. Reckon too that there will be some amount of spending done once we can. MsD" Yes I did think house prices would have it hard Ireland had it hard for quite awhile on the housing X | |||
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"In a selfish way, I’m hoping house prices fall. It was my goal to buy my first house this summer." Same  | |||
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"On the price of houses and Jobs and various other things ???" It depends how credit markets review and assets the up coming risks. (that's where financial institutions borrow money to lend for their own lending products) However until American literally printed 2.5 trillion dollars in money out of thin air. Credit market traders where brown staining the undies all over the world picturig a post apocalyptic world. Nobody can tell you definitely what the outcome will be. The tldr is yes in the short term. Longterm it is still unclear if this will lead to deflation or inflation. My money (literally) is on inflation and a weak dollar. | |||
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"In a selfish way, I’m hoping house prices fall. It was my goal to buy my first house this summer." Same  | |||
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"It will have an effect on every aspect of our lives for a long time to come. Loads of people's income will be drastically reduced, loads of people will be very wary of returning to any sort of (previously) normal socialising, the holiday and hospitality industries will be decimated and we're going to have to change the way we think about a lot of things. But humans are very adaptable and as a society I think we'll be OK even if individually we aren't " This.. Some of the things we thought important before this will no longer be so, holidays, fashion etc.. | |||
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"It will have an effect on every aspect of our lives for a long time to come. Loads of people's income will be drastically reduced, loads of people will be very wary of returning to any sort of (previously) normal socialising, the holiday and hospitality industries will be decimated and we're going to have to change the way we think about a lot of things. But humans are very adaptable and as a society I think we'll be OK even if individually we aren't " This.. Some of the things we thought important before this will no longer be so, holidays, fashion etc.. | |||
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"House prices never bother me and cant see why the majority of people worry about it.Only the people who buy for investments lose out if they go down it doesn't affect the average person because they may sell at a lower price than it was but the next house they want to buy has suffered the same fate. " House prices affect first time buyers. If they can't afford to buy the whole thing stagnates or passes in to the hands of buy to rent buyers. | |||
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"House prices never bother me and cant see why the majority of people worry about it.Only the people who buy for investments lose out if they go down it doesn't affect the average person because they may sell at a lower price than it was but the next house they want to buy has suffered the same fate. " A house is the most expensive item you'll ever buy in your life For most people it's also the biggest financial risk they will ever take Any you are not bothered about its price? What if you bought 10 houses in Merthyr Tydfil for the same price as one house in Central London in say 2005. Those houses will have lost money in the last 15 years. Yeah lost not even stayed the same price. The one in Central London would have gone up. A house is not an investment a pension or business. Its a home a lifestyle choice. For most people renting is a far better option and more affordable. But there is this idea seeded in the uk you HAVE TO own a house. I bought one at 20 at consider it one of my worst decision of my life financially and for my own lifestyle. Freedom of speach in UK the let's denounce pretty much anything from religion, terrorists, rapists, war criminals But tell the public property is a bad investment for most people and you'll be lynched and burnt at the stake. I've spent 15 years financially advising people and I've all but given up trying to show anyone how illogical it is for most people. | |||
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"Looking very carefully at the housing market. I think there will be an initial dip which people will be able to take advantage of. Question is will people have the cash to do so? " House prices tend to follow income on our experience. | |||
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"House prices never bother me and cant see why the majority of people worry about it.Only the people who buy for investments lose out if they go down it doesn't affect the average person because they may sell at a lower price than it was but the next house they want to buy has suffered the same fate. A house is the most expensive item you'll ever buy in your life For most people it's also the biggest financial risk they will ever take Any you are not bothered about its price? What if you bought 10 houses in Merthyr Tydfil for the same price as one house in Central London in say 2005. Those houses will have lost money in the last 15 years. Yeah lost not even stayed the same price. The one in Central London would have gone up. A house is not an investment a pension or business. Its a home a lifestyle choice. For most people renting is a far better option and more affordable. But there is this idea seeded in the uk you HAVE TO own a house. I bought one at 20 at consider it one of my worst decision of my life financially and for my own lifestyle. Freedom of speach in UK the let's denounce pretty much anything from religion, terrorists, rapists, war criminals But tell the public property is a bad investment for most people and you'll be lynched and burnt at the stake. I've spent 15 years financially advising people and I've all but given up trying to show anyone how illogical it is for most people. " I own my home . Why would i want to live in a house owned by someone else? | |||
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"Looking very carefully at the housing market. I think there will be an initial dip which people will be able to take advantage of. Question is will people have the cash to do so? House prices tend to follow income on our experience. " House prices have massively moved away from typical incomes. That's why it's so hard for young buyers to get a mortgage. A mortgagee will usually lend 4-5x you income. That was a squeeze up to 2008 Now the average mortgager requires a 5-7x multiplier and thats with a 10% deposit often for a property worse than thet are renting. Salaries have stagnanted since 2008 and property has inched up by 2-3% not a lot but it still outstrips wage growth | |||
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"House prices never bother me and cant see why the majority of people worry about it.Only the people who buy for investments lose out if they go down it doesn't affect the average person because they may sell at a lower price than it was but the next house they want to buy has suffered the same fate. A house is the most expensive item you'll ever buy in your life For most people it's also the biggest financial risk they will ever take Any you are not bothered about its price? What if you bought 10 houses in Merthyr Tydfil for the same price as one house in Central London in say 2005. Those houses will have lost money in the last 15 years. Yeah lost not even stayed the same price. The one in Central London would have gone up. A house is not an investment a pension or business. Its a home a lifestyle choice. For most people renting is a far better option and more affordable. But there is this idea seeded in the uk you HAVE TO own a house. I bought one at 20 at consider it one of my worst decision of my life financially and for my own lifestyle. Freedom of speach in UK the let's denounce pretty much anything from religion, terrorists, rapists, war criminals But tell the public property is a bad investment for most people and you'll be lynched and burnt at the stake. I've spent 15 years financially advising people and I've all but given up trying to show anyone how illogical it is for most people. I own my home . Why would i want to live in a house owned by someone else? " Thats right you have made a lifestyle choice and I'm not saying its wrong. I'm just saying it's not right for everyone My question to you though is why wouldn't you want to live in someone else property if it made more economic sense? The answer is usually an emotional one and again there is nothing wrong with that but it comes with a cost. If you are happy to pay it then that's a lifestyle choice you have made. I could already hear the pitchforks coming out... let me get the stake ready haha | |||
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"House prices never bother me and cant see why the majority of people worry about it.Only the people who buy for investments lose out if they go down it doesn't affect the average person because they may sell at a lower price than it was but the next house they want to buy has suffered the same fate. A house is the most expensive item you'll ever buy in your life For most people it's also the biggest financial risk they will ever take Any you are not bothered about its price? What if you bought 10 houses in Merthyr Tydfil for the same price as one house in Central London in say 2005. Those houses will have lost money in the last 15 years. Yeah lost not even stayed the same price. The one in Central London would have gone up. A house is not an investment a pension or business. Its a home a lifestyle choice. For most people renting is a far better option and more affordable. But there is this idea seeded in the uk you HAVE TO own a house. I bought one at 20 at consider it one of my worst decision of my life financially and for my own lifestyle. Freedom of speach in UK the let's denounce pretty much anything from religion, terrorists, rapists, war criminals But tell the public property is a bad investment for most people and you'll be lynched and burnt at the stake. I've spent 15 years financially advising people and I've all but given up trying to show anyone how illogical it is for most people. " no because you buy a house to live in i would prefer to be buying it than just having the money go to someone else.I have been mortgage free for over 20 years so thats about £800 a month im better off for a start but my point was why would i care what its worth if im not selling its only relevant to my kids if i die. | |||
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"House prices never bother me and cant see why the majority of people worry about it.Only the people who buy for investments lose out if they go down it doesn't affect the average person because they may sell at a lower price than it was but the next house they want to buy has suffered the same fate. A house is the most expensive item you'll ever buy in your life For most people it's also the biggest financial risk they will ever take Any you are not bothered about its price? What if you bought 10 houses in Merthyr Tydfil for the same price as one house in Central London in say 2005. Those houses will have lost money in the last 15 years. Yeah lost not even stayed the same price. The one in Central London would have gone up. A house is not an investment a pension or business. Its a home a lifestyle choice. For most people renting is a far better option and more affordable. But there is this idea seeded in the uk you HAVE TO own a house. I bought one at 20 at consider it one of my worst decision of my life financially and for my own lifestyle. Freedom of speach in UK the let's denounce pretty much anything from religion, terrorists, rapists, war criminals But tell the public property is a bad investment for most people and you'll be lynched and burnt at the stake. I've spent 15 years financially advising people and I've all but given up trying to show anyone how illogical it is for most people. no because you buy a house to live in i would prefer to be buying it than just having the money go to someone else.I have been mortgage free for over 20 years so thats about £800 a month im better off for a start but my point was why would i care what its worth if im not selling its only relevant to my kids if i die." I dont advocate rent in stead of buying I advocate rent and invest for the same amount of money you would mortgage for. For the very reason you mention "why would i care what its worth if im not selling" A home is an illiquid asset. If you sell it where do you live? If you seed the money into an investment portfolio it is liquid you can do what you want, Buy A business A ferrari A boat Blow it on strippers and drug fuel cocaine and Viagra binge just before you died rather than give it to your kids And if you want to leave something for them, buy life insurance. 100k is about £30 a month compared to £4-500 mortgage. The answer is obviously a combination of investments and property. It's just homeownership is sold as kne fix pill for financial security when nothing could be further from the truth at least for young investors. Buy a house as home that's all it is. | |||
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"House prices never bother me and cant see why the majority of people worry about it.Only the people who buy for investments lose out if they go down it doesn't affect the average person because they may sell at a lower price than it was but the next house they want to buy has suffered the same fate. A house is the most expensive item you'll ever buy in your life For most people it's also the biggest financial risk they will ever take Any you are not bothered about its price? What if you bought 10 houses in Merthyr Tydfil for the same price as one house in Central London in say 2005. Those houses will have lost money in the last 15 years. Yeah lost not even stayed the same price. The one in Central London would have gone up. A house is not an investment a pension or business. Its a home a lifestyle choice. For most people renting is a far better option and more affordable. But there is this idea seeded in the uk you HAVE TO own a house. I bought one at 20 at consider it one of my worst decision of my life financially and for my own lifestyle. Freedom of speach in UK the let's denounce pretty much anything from religion, terrorists, rapists, war criminals But tell the public property is a bad investment for most people and you'll be lynched and burnt at the stake. I've spent 15 years financially advising people and I've all but given up trying to show anyone how illogical it is for most people. I own my home . Why would i want to live in a house owned by someone else? Thats right you have made a lifestyle choice and I'm not saying its wrong. I'm just saying it's not right for everyone My question to you though is why wouldn't you want to live in someone else property if it made more economic sense? The answer is usually an emotional one and again there is nothing wrong with that but it comes with a cost. If you are happy to pay it then that's a lifestyle choice you have made. I could already hear the pitchforks coming out... let me get the stake ready haha" It made economic sense for me to buy my own home ...rather than pay someone else's mortgage i chose to pay my own. I'm mortgage free ..if i had rented i would still be paying and have nothing substantial to show for it. | |||
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"House prices never bother me and cant see why the majority of people worry about it.Only the people who buy for investments lose out if they go down it doesn't affect the average person because they may sell at a lower price than it was but the next house they want to buy has suffered the same fate. A house is the most expensive item you'll ever buy in your life For most people it's also the biggest financial risk they will ever take Any you are not bothered about its price? What if you bought 10 houses in Merthyr Tydfil for the same price as one house in Central London in say 2005. Those houses will have lost money in the last 15 years. Yeah lost not even stayed the same price. The one in Central London would have gone up. A house is not an investment a pension or business. Its a home a lifestyle choice. For most people renting is a far better option and more affordable. But there is this idea seeded in the uk you HAVE TO own a house. I bought one at 20 at consider it one of my worst decision of my life financially and for my own lifestyle. Freedom of speach in UK the let's denounce pretty much anything from religion, terrorists, rapists, war criminals But tell the public property is a bad investment for most people and you'll be lynched and burnt at the stake. I've spent 15 years financially advising people and I've all but given up trying to show anyone how illogical it is for most people. I own my home . Why would i want to live in a house owned by someone else? Thats right you have made a lifestyle choice and I'm not saying its wrong. I'm just saying it's not right for everyone My question to you though is why wouldn't you want to live in someone else property if it made more economic sense? The answer is usually an emotional one and again there is nothing wrong with that but it comes with a cost. If you are happy to pay it then that's a lifestyle choice you have made. I could already hear the pitchforks coming out... let me get the stake ready haha It made economic sense for me to buy my own home ...rather than pay someone else's mortgage i chose to pay my own. I'm mortgage free ..if i had rented i would still be paying and have nothing substantial to show for it. " Read above you would a diverse portfolio on investments with liquid captial You could use a portion of monthly income to pay for your rent. As I said I know this an unpopular opinion on here and most of the responses are from people who as you put it... paid off your mortgage. You path to homeownership was very different to the generation coming up behind you. I won't start a boomer/doomer/zoomer debate. The virus will effect all generations financially. In uniquely individual ways. The two biggest macro indicators will credit markets and the relative strength of the dollar | |||
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"House prices never bother me and cant see why the majority of people worry about it.Only the people who buy for investments lose out if they go down it doesn't affect the average person because they may sell at a lower price than it was but the next house they want to buy has suffered the same fate. A house is the most expensive item you'll ever buy in your life For most people it's also the biggest financial risk they will ever take Any you are not bothered about its price? What if you bought 10 houses in Merthyr Tydfil for the same price as one house in Central London in say 2005. Those houses will have lost money in the last 15 years. Yeah lost not even stayed the same price. The one in Central London would have gone up. A house is not an investment a pension or business. Its a home a lifestyle choice. For most people renting is a far better option and more affordable. But there is this idea seeded in the uk you HAVE TO own a house. I bought one at 20 at consider it one of my worst decision of my life financially and for my own lifestyle. Freedom of speach in UK the let's denounce pretty much anything from religion, terrorists, rapists, war criminals But tell the public property is a bad investment for most people and you'll be lynched and burnt at the stake. I've spent 15 years financially advising people and I've all but given up trying to show anyone how illogical it is for most people. I own my home . Why would i want to live in a house owned by someone else? " Owning your home is a major responsibility. If the roof needs replacing or the loo floods,its down to you. Renting can remove those headaches and give you flexibility to move when and where you want to (under 'normal' circumstances). You can also get deals where you share bills or they are included in with rent. All I'm saying is that renting can appeal to some people. I do foresee rent rises on the horizon,though, if unemployment skyrocketed and people end up losing their houses.(thus flooding the rental market). All in all, it's hard to see how anyone will come out of this situation with a big smile on their face. | |||
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"House prices never bother me and cant see why the majority of people worry about it.Only the people who buy for investments lose out if they go down it doesn't affect the average person because they may sell at a lower price than it was but the next house they want to buy has suffered the same fate. A house is the most expensive item you'll ever buy in your life For most people it's also the biggest financial risk they will ever take Any you are not bothered about its price? What if you bought 10 houses in Merthyr Tydfil for the same price as one house in Central London in say 2005. Those houses will have lost money in the last 15 years. Yeah lost not even stayed the same price. The one in Central London would have gone up. A house is not an investment a pension or business. Its a home a lifestyle choice. For most people renting is a far better option and more affordable. But there is this idea seeded in the uk you HAVE TO own a house. I bought one at 20 at consider it one of my worst decision of my life financially and for my own lifestyle. Freedom of speach in UK the let's denounce pretty much anything from religion, terrorists, rapists, war criminals But tell the public property is a bad investment for most people and you'll be lynched and burnt at the stake. I've spent 15 years financially advising people and I've all but given up trying to show anyone how illogical it is for most people. I own my home . Why would i want to live in a house owned by someone else? Owning your home is a major responsibility. If the roof needs replacing or the loo floods,its down to you. Renting can remove those headaches and give you flexibility to move when and where you want to (under 'normal' circumstances). You can also get deals where you share bills or they are included in with rent. All I'm saying is that renting can appeal to some people. I do foresee rent rises on the horizon,though, if unemployment skyrocketed and people end up losing their houses.(thus flooding the rental market). All in all, it's hard to see how anyone will come out of this situation with a big smile on their face." Rent will definitely go up as there is such a high demand for rental properties | |||
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"House prices never bother me and cant see why the majority of people worry about it.Only the people who buy for investments lose out if they go down it doesn't affect the average person because they may sell at a lower price than it was but the next house they want to buy has suffered the same fate. A house is the most expensive item you'll ever buy in your life For most people it's also the biggest financial risk they will ever take Any you are not bothered about its price? What if you bought 10 houses in Merthyr Tydfil for the same price as one house in Central London in say 2005. Those houses will have lost money in the last 15 years. Yeah lost not even stayed the same price. The one in Central London would have gone up. A house is not an investment a pension or business. Its a home a lifestyle choice. For most people renting is a far better option and more affordable. But there is this idea seeded in the uk you HAVE TO own a house. I bought one at 20 at consider it one of my worst decision of my life financially and for my own lifestyle. Freedom of speach in UK the let's denounce pretty much anything from religion, terrorists, rapists, war criminals But tell the public property is a bad investment for most people and you'll be lynched and burnt at the stake. I've spent 15 years financially advising people and I've all but given up trying to show anyone how illogical it is for most people. no because you buy a house to live in i would prefer to be buying it than just having the money go to someone else.I have been mortgage free for over 20 years so thats about £800 a month im better off for a start but my point was why would i care what its worth if im not selling its only relevant to my kids if i die." IF you die? Have you found the secret to immortality?  | |||
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"In a selfish way, I’m hoping house prices fall. It was my goal to buy my first house this summer." | |||
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"House prices never bother me and cant see why the majority of people worry about it.Only the people who buy for investments lose out if they go down it doesn't affect the average person because they may sell at a lower price than it was but the next house they want to buy has suffered the same fate. A house is the most expensive item you'll ever buy in your life For most people it's also the biggest financial risk they will ever take Any you are not bothered about its price? What if you bought 10 houses in Merthyr Tydfil for the same price as one house in Central London in say 2005. Those houses will have lost money in the last 15 years. Yeah lost not even stayed the same price. The one in Central London would have gone up. A house is not an investment a pension or business. Its a home a lifestyle choice. For most people renting is a far better option and more affordable. But there is this idea seeded in the uk you HAVE TO own a house. I bought one at 20 at consider it one of my worst decision of my life financially and for my own lifestyle. Freedom of speach in UK the let's denounce pretty much anything from religion, terrorists, rapists, war criminals But tell the public property is a bad investment for most people and you'll be lynched and burnt at the stake. I've spent 15 years financially advising people and I've all but given up trying to show anyone how illogical it is for most people. I own my home . Why would i want to live in a house owned by someone else? Owning your home is a major responsibility. If the roof needs replacing or the loo floods,its down to you. Renting can remove those headaches and give you flexibility to move when and where you want to (under 'normal' circumstances). You can also get deals where you share bills or they are included in with rent. All I'm saying is that renting can appeal to some people. I do foresee rent rises on the horizon,though, if unemployment skyrocketed and people end up losing their houses.(thus flooding the rental market). All in all, it's hard to see how anyone will come out of this situation with a big smile on their face. Rent will definitely go up as there is such a high demand for rental properties" That didn't happen in 2008. Commercial rents are gonna fall through the floor. Expect to see rents taken over by pound shops, bookies and charity shops just like they did in 2008. As for private landlords... Those btl mortgages with 7% interests don't seem a great idea now. When tenenats don't have money to pay for rent. That's what get when you drink the property is wealth kool aid. Btls are business... just like any business they carry risks. This government hates them because the elctrol hate them. Don't expect an inch of support from banks or the government Any credit market related product (IS) going through a period of structural rebalancing. This won't go away with the virus even if a cure was found tomorrow. | |||
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"this obsesion with owning your own house sems to be a big thing in yhe u.k.rest of europe it dont seem to be such a big deal owning your own property.lived in spain for 2 1/2 years and most of the spanish i worked with were renters and had no wish yo saddle themselves with a mortgage.seemed to be there view they would rather spend there cash on things that made there lives more enjoyable rather than paying a debt to the bank for most of there working life.cant say i blame them" Most people I know pay around the same rent as we do on our mortgage. | |||
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"The problem with renting is that you have no control of rent increases so when it comes to retirement you do not know how much you need annually. The state pension of £600 per month will not go far if renting so you need to supplement with a decent private pension " TBH, anyone who is relying on the state pension,and nothing else, to support themselves in their retirement is probably in for a bit of a shock. | |||
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"I think holiday prices next summer will be through the roof" | |||
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"this obsesion with owning your own house sems to be a big thing in yhe u.k.rest of europe it dont seem to be such a big deal owning your own property.lived in spain for 2 1/2 years and most of the spanish i worked with were renters and had no wish yo saddle themselves with a mortgage.seemed to be there view they would rather spend there cash on things that made there lives more enjoyable rather than paying a debt to the bank for most of there working life.cant say i blame them Most people I know pay around the same rent as we do on our mortgage. " Paying the same amount of money in rent as you do in mortgage is not an apples for apples comparison. And the further up the property you go the cheaper renting vs buying gets. Have a look down your street and rental cost. Compare that to yiur mortgage There are ots of variables to the rent vs mortgage debate And yes for some mortgaging is better But in the whole there is usually only a price difference of few percent one way or another. So why shell out thousands for a deposit. And for mortgage to even break even you have to live in the house 3-5 years. Otherwise the initial costs outstrip the capital appreciation. Home ownership is throwback to the thatcher era. I don't think anyone under 25 even dreams or wants to own property. They don't want to own a phone for more than 2 years let alone the smae house for 25. I guess things change when you habe a family but again... Its a lifestyle choice not an investment. | |||
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"this obsesion with owning your own house sems to be a big thing in yhe u.k.rest of europe it dont seem to be such a big deal owning your own property.lived in spain for 2 1/2 years and most of the spanish i worked with were renters and had no wish yo saddle themselves with a mortgage.seemed to be there view they would rather spend there cash on things that made there lives more enjoyable rather than paying a debt to the bank for most of there working life.cant say i blame them Most people I know pay around the same rent as we do on our mortgage. Paying the same amount of money in rent as you do in mortgage is not an apples for apples comparison. And the further up the property you go the cheaper renting vs buying gets. Have a look down your street and rental cost. Compare that to yiur mortgage There are ots of variables to the rent vs mortgage debate And yes for some mortgaging is better But in the whole there is usually only a price difference of few percent one way or another. So why shell out thousands for a deposit. And for mortgage to even break even you have to live in the house 3-5 years. Otherwise the initial costs outstrip the capital appreciation. Home ownership is throwback to the thatcher era. I don't think anyone under 25 even dreams or wants to own property. They don't want to own a phone for more than 2 years let alone the smae house for 25. I guess things change when you habe a family but again... Its a lifestyle choice not an investment. " How do you figure that, my monthly mortgage payment is one third of the cost it is to rent the same house in my street | |||
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"this obsesion with owning your own house sems to be a big thing in yhe u.k.rest of europe it dont seem to be such a big deal owning your own property.lived in spain for 2 1/2 years and most of the spanish i worked with were renters and had no wish yo saddle themselves with a mortgage.seemed to be there view they would rather spend there cash on things that made there lives more enjoyable rather than paying a debt to the bank for most of there working life.cant say i blame them Most people I know pay around the same rent as we do on our mortgage. Paying the same amount of money in rent as you do in mortgage is not an apples for apples comparison. And the further up the property you go the cheaper renting vs buying gets. Have a look down your street and rental cost. Compare that to yiur mortgage There are ots of variables to the rent vs mortgage debate And yes for some mortgaging is better But in the whole there is usually only a price difference of few percent one way or another. So why shell out thousands for a deposit. And for mortgage to even break even you have to live in the house 3-5 years. Otherwise the initial costs outstrip the capital appreciation. Home ownership is throwback to the thatcher era. I don't think anyone under 25 even dreams or wants to own property. They don't want to own a phone for more than 2 years let alone the smae house for 25. I guess things change when you habe a family but again... Its a lifestyle choice not an investment. How do you figure that, my monthly mortgage payment is one third of the cost it is to rent the same house in my street "Probably because you have held the morgage for a number of hears Your ltv is low Or you are on a discounted rate It could be rent is high in your area As I said there are variables I also said that if denounce homeownership in the uk you get crucified for it. Which is mostly what the response have been. Expect someone piping up thst the rest of the Eu doesn't operate like this The point I'm a making is there is a not a right or wrong answer. If you are happy... Good for you | |||
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