craig12 Posted April 11, 2017 Author Share Posted April 11, 2017 (edited) no sir I say there in a bubble and all buyers should offer at least 25% less to reflect true value as to the wage ratio and affordability on 2 middle income jobs that is assuming most are middle class the sellers don't lose out cos they probably bought it for thousands less than its on now for Edited April 11, 2017 by craig12 Link to comment Share on other sites More sharing options...
ECCOnoob Posted April 11, 2017 Share Posted April 11, 2017 Ok. Fine. You stick to that theory and good luck to you. Im sure you wont get outbid time and time again. Link to comment Share on other sites More sharing options...
Nijinsky Posted April 11, 2017 Share Posted April 11, 2017 The house price correction will come Link to comment Share on other sites More sharing options...
craig12 Posted April 11, 2017 Author Share Posted April 11, 2017 The house price correction will come give this man a medal what a reply my very thoughts Link to comment Share on other sites More sharing options...
Cyclone Posted April 11, 2017 Share Posted April 11, 2017 are you an estate agent? dosent matter if its zoopla rghtmove or whatever its still overpriced how much is a £300,000 mortgage a month over 25 years, oh and I know of somewhere that their offering 15-20% over the asking price and not securing a deal the sellers say no deal hows that for a mega bubble £300000 is £1570 pcm at 3.9% jesus Christ lord help us all whats that at 5%-6% and a £140000 is a staggering £733 at 3.9% How have you worked out what the "real" value is? Why would you borrow at 3.9% today? If you're paying over 2% I'd be surprised. It appears that a 300k mortgage would be about £1200 a month, if you took a 5 year fixed. You can actually find mortgages for <1%, and the monthly payments would be £1127 for 300k. Link to comment Share on other sites More sharing options...
craig12 Posted April 11, 2017 Author Share Posted April 11, 2017 (edited) How have you worked out what the "real" value is? Why would you borrow at 3.9% today? If you're paying over 2% I'd be surprised. It appears that a 300k mortgage would be about £1200 a month, if you took a 5 year fixed. You can actually find mortgages for <1%, and the monthly payments would be £1127 for 300k. £1127 f....m....... god help us all god help us all when it comes crashing ,, a couple in the posher end of Sheffield need 6-8 times joint income that my friend is just plain daft Edited April 11, 2017 by craig12 Link to comment Share on other sites More sharing options...
biotechpete Posted April 11, 2017 Share Posted April 11, 2017 give this man a medal what a reply my very thoughts People have been suggesting a correction for over 15 years. Yet still prices rise almost inexorably. Even after the last 'crash' houses on my road in Sheffield lost maybe 10k in value. Prices have gone up much more since. Link to comment Share on other sites More sharing options...
Cyclone Posted April 11, 2017 Share Posted April 11, 2017 no sir I say there in a bubble and all buyers should offer at least 25% less to reflect true value as to the wage ratio and affordability on 2 middle income jobs that is assuming most are middle class the sellers don't lose out cos they probably bought it for thousands less than its on now for Offering less will simply see you buying nothing. Believing that prices are suffering from a bubble doesn't mean that anyone is going to sell at less than the current going rate. Long term average prices against long term average income is up, but mortgage payments are down due to historically low interest rates. Until those rates go up, house prices will stay right where they are. http://www.economicshelp.org/blog/5568/housing/uk-house-price-affordability/ Link to comment Share on other sites More sharing options...
Bargepole23 Posted April 11, 2017 Share Posted April 11, 2017 £1127 f....m....... god help us all god help us all when it comes crashing ,, a couple in the posher end of Sheffield need 6-8 times joint income that my friend is just plain daft 6 to 8 times what joint income? To borrow 300k? That would be a joint income of only 50k. Link to comment Share on other sites More sharing options...
Cyclone Posted April 11, 2017 Share Posted April 11, 2017 People have been suggesting a correction for over 15 years. Yet still prices rise almost inexorably. Even after the last 'crash' houses on my road in Sheffield lost maybe 10k in value. Prices have gone up much more since. There was a large correction in 2008/9, but due to central bank reaction (the lowest interest rates ever, sustained for the longest period ever) the fall was checked. The moment rates go up to something resembling historical values, house prices will fall. ---------- Post added 11-04-2017 at 22:27 ---------- £1127 f....m....... god help us all god help us all when it comes crashing ,, a couple in the posher end of Sheffield need 6-8 times joint income that my friend is just plain daft Have you considered that a couple in the posher end of Sheffield will probably be earning more than average salary? A household income of 100k will easily support a mortgage of 1200/month and it will still support it when rates go up. 100k between 2 people is £8300 a month! If rates went up to 5% (a historically reasonable figure) the mortgage would go up to 2k... Hardly crippling against that income. 10% and they'd be paying £3000, that's getting a bit more serious. But most people have fixed rates, so they'd have some time to plan before the increase hit. Link to comment Share on other sites More sharing options...
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