House prices did fall recently, but they were still above the level that they considered reasonable. This is a pretty pessimistic forum, even by the standards of the internet.
I don't believe a major crash is likely, certainly not to the extent house end up costing only a bit more than cars. But many of them hold this position and have done since the early 2000s. This post caught my eye.
So, regardless if if its realistic or not, sentiment is improving. The doom is not as bad as it was. With government meddling (QE, negative rates, help to buy, etc) they have prevented a full blown crash. Now it looks as though they are inflating houses prices to win an election although they will not ever admit that.
10 years I have been at HPC. Summer 2003 I became effectively a STR'er, although my rent is a shared ownership. I have crap neighbours, the house is a tiny poky box but I have not moved and put my life on hold for all this time because to put all my savings into a house in a market that was 30% - 40% overvalued seemed insane. But prices carried on going and went up beyond expectations due to Brown's meddling then crashed a fair bit but are above 2003 levels which has made the whole exercise pointless. So at various stages I considered buying, but I have always believed that eventually the market must return to normal. The end never comes, it's one new scheme after another, I never would have dreamt the extent that governments would go to to prevent house prices falling.
So in this 10 years my HPC ethic has really been on of the main causes of the failure of my relationships. Why?
1. GF wanted to live together, then arguements would ensue over not buying one. So bad that we would split before even trying renting instead.
2. In this 10 years through not buying and being ultra annoyed at everything going on I have cut expenditure to the minimum as a response to negative rates, invested as well as I could, worked a lot of OT, and saved up a big HPC fund ready to use when the time actually comes, this has caused me more problems.
It has made me rather worried that a woman could take half of it, again this is an obstacle to happiness. If they want kids, even worse, you know how much they cost and women at my age who don't have kids are running out of time with the biological clock. Another cause of relationship failure.
3 The lack of a HPC has made me very angry and maybe a bit bitter and twisted since everything I have done or not done for the last 10 years is because of it. I am not the fun person I used to be because everything about the economy and high HPI holds me back through the anger I have stored up. So in dating if the topic of money comes up its like opening a can of worms, most women do not understand the system at all, to them I have now turned into a man obsessed with money and doom and gloom rather than a catch.
If I had just bought a house in 2003, got married, had kids I would have been in a different place today.
What to do?
1. Give up and buy in the UK. They might go up 10% after buying before something happens to trigger the full blown crash but hey at least I have moved on and not waited anymore.
2. Wait some more, save some more, but how long for? it would be another 3 years before a crash if any comes. Then I will be 43.
3. Buy abroad in a place that is having a proper correction. I can only think of Spain or Ireland, but these places are not good for my sort of work.
4. Find a woman financially on par with me? Not likely since to have a house without a large amount of debt would mean they would have had to buy pre 1997. Not many women around who did that still single who are not way over 40.
I am sort of at the end of my tether, hence this frustrated post. Maybe I am being way too negative, but I woke this morning thinking what the hell am I doing with my life. Only a HPC'er would understand my situation. Any comments bad or good anything at all would be gratefully received.
I am not sure houses are going to do much price-wise over the next few years. But it seems quite sad to have allowed a belief to have stalled one's life dreams. And for money to have tainted someone's future romantic interactions.
This is nothing against those who believe house prices are going to fall(they are sometimes called Bears)The same applies to those who are waiting for prices to rocket(Bulls)
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