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House price inflation by £1000 per week ?


Shake me up Judy

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10 minutes ago, HeliX said:

I fixed for 5 at an OK-ish rate. Not as OK as if I'd done it a year ago, obviously. But my thoughts were that I can afford that rate, I likely would struggle to afford double that rate (which is what it is now...), and much more than that would probably force a sale. So safest option felt like 5 year fixed.

Enforced sales are the exact thing that hit the housing market in the early 90s when negative equity started to happen. People should have hedged themselves properly against interest rate increases. Especially post Brexit as it was obvious that the European style ultra low interest rates were going to have to end. 

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Every generation has one or maybe two opportunities to make a speculative  investment which does well ..Most of the boomers have struggled when mortgage rates were jn double digits but the punt has paid off for most of them . It could have easily gone the wrong way and they could have lost it all..

I'm in my 30 's and was too late into the property game and prices were too high for me to afford by the time I started earning well..

But for people like me crypto was a speculative investment and I've done way better than  if I had gone with property.

Add on the fact that it's very liquid and can be managed from anywhere in the world and that's a bonus 

Obviously you need to remember to sell at least part of your holdings  when everyone else is in FOMO phase and buy back when no one wants it.( quite similar to any other asset but is several times magnified )

As I've mentioned in another thread I have managed to retire several decades before I could have .. I still do some real world work occasionally but only  because I like what I do.

 

 

Edited by mad_manx
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48 minutes ago, HeliX said:

I fixed for 5 at an OK-ish rate. Not as OK as if I'd done it a year ago, obviously. But my thoughts were that I can afford that rate, I likely would struggle to afford double that rate (which is what it is now...), and much more than that would probably force a sale. So safest option felt like 5 year fixed.

This is the exact situation we found ourselves in, went with the 5 year fixed as well just for peace of mind, god knows what the economic situation is going to be like in 5 years though!

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8 minutes ago, manxchester said:

This is the exact situation we found ourselves in, went with the 5 year fixed as well just for peace of mind, god knows what the economic situation is going to be like in 5 years though!

Probably better than it'll be in 1-2 years. I would guess that the worst of the unpayable mortgages and resulting sell-offs will be next year. But it certainly is a guess. And if it's fucked for longer than that then my mortgage renewal will likely be the least of our worries!

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4 hours ago, HeliX said:

Probably better than it'll be in 1-2 years. I would guess that the worst of the unpayable mortgages and resulting sell-offs will be next year. But it certainly is a guess. And if it's fucked for longer than that then my mortgage renewal will likely be the least of our worries!

Bottom of the last cycle in IOM was in 2014 ..So was a year and a bit behind the UK 

Markets here tend to lag behind  the UK by 1 to 2 years 

 

 

Edited by mad_manx
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  • 3 weeks later...
On 10/14/2022 at 11:56 AM, HeliX said:

Probably better than it'll be in 1-2 years. I would guess that the worst of the unpayable mortgages and resulting sell-offs will be next year. But it certainly is a guess. And if it's fucked for longer than that then my mortgage renewal will likely be the least of our worries!

It’s definitely getting dicey when Peel is the new executive ‘millionaires row’. What an absolute piss take of a price.

https://www.garforthgray.im/peel-raad-roagan/

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28 minutes ago, BriT said:

It’s definitely getting dicey when Peel is the new executive ‘millionaires row’. What an absolute piss take of a price.

https://www.garforthgray.im/peel-raad-roagan/

That’s a reasonable price for a house that size, and needing nothing done to it in the current market.

There are others on those new estates in Peel that are 750 plus, and several houses in Peel that have been a million plus for years.

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7 minutes ago, Asthehills said:

That’s a reasonable price for a house that size, and needing nothing done to it in the current market.

There are others on those new estates in Peel that are 750 plus, and several houses in Peel that have been a million plus for years.

All an absolute piss take. 

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18 minutes ago, Asthehills said:

That’s a reasonable price for a house that size, and needing nothing done to it in the current market.

There are others on those new estates in Peel that are 750 plus, and several houses in Peel that have been a million plus for years.

Nonsense that kitchen alone is cheap shite. I’ve put in better myself from Howdens. It’s an absolute piss take of a price and anyone who is going to stump up for that is mental. 

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Just now, BriT said:

Nonsense that kitchen alone is cheap shite. I’ve put in better myself from Howdens. It’s an absolute piss take of a price and anyone who is going to stump up for that is mental. 

Will be sold inside a month.

It’s the going rate.  It’s obviously not to your taste but that doesn’t make the price unreasonable in the current market

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