House prices have fallen at the fastest rate in 12 years. Is the great housing boom finally over? And are you worried?
its all a big mess ////come on GORDon what you going to do ///////
Margy from Gateshead, I find your comments difficult to believe!
If you bought in 1982 which as it happens is the time I bought my first house, which is now worth more than 10 times what I paid for it, the next in 1984 is worth about 7 times what I paid, the one I bought in 1990 in worth 4 times what I paid - the first two are paid for and currently rented out, the third one - I owe about £50k against a value of £250K.
Have you borrowed and spent against its value like lots of others ?? If so thats where you went wrong - greed!!!
The house prices over the last few years have not really made sense to me, but at least I now have two houses that I can sell or give to my two children, should give them a better start than I had, too many people think that just because their house is worth more it is better - not necessarily true!!!
Your mortgage must now be only a small percentage of its current value, why not downsize if thats still a possibility?
Margy from Gateshead, I find your cooments difficult to believe!
If you bought in 1982 which as it happens is the time I bought my first house, which is now worth more than 10 times what I paid for it, the next in 1984 is worth about 7 times what I paid, the one I bought in 1990 in worth 4 times what I paid - the first two are paid for and the third one - I owe about £50k aginst a value of £250K.
Have you borrowed aginst its value like lots of other??
The media is bored so they have a go at the housing market...no more of those DIY programmes or move to the country...if the media said houses are on the up we would be in for a boom again! history of house prices in this country is always peak and trough.....so they may be falling quicker that 12 years ago but house prices have doubled or more in the last 12 years!
My husband and I have been given rubbish advice in the past re our mortgage. Our house should have been paid for in September 2007 but it isnt. We are still paying for it and by the time it is ours (if we both arent dead by then) we will have paid off it for 37years instead of the usual 25years.
Its just been a noose around our neck?????
So anyone thinking of buying a house - BEWARE - its not all its cracked up to be.
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