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AIBU?

Share your dilemmas and get honest opinions from other Mumsnetters.

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to think all this nonsense about house prices being too high is just that - Nonsense!

905 replies

RazahFluffy · 12/10/2022 00:32

DH and I have long been in the property game. We actually met whilst working as Estate Agents back in 1999!

I've seen a lot in my time as an agent - 2008/2009 were a bit of a blip, but overall, there's one thing I've always had faith in, and that's bricks and mortar and that prices always go up. They aren't making more land after all 😁

As well as working in property, we've got a few of our own. We started off as accidental landlords after we got together and kept both our homes to rent out when we decided it was time to move in together and find a place of our own. Over time we've added a few more to the portfolio.

We are lovely landlords. We let our tenants have our houses as their homes, and we like to do little things like send them Christmas hampers, and know their birthdays so we can send a card and usually a Pizza Express voucher.

Anyway, there's a lot of rubbish being written recently about interest rates and the economy affecting the market. Nothing could be further from the truth where we are!

It's still buoyant and the buyers registering at the agency are no different to usual - excited to either 'get on the ladder' or move to their next step towards their eventual forever home😊Vendors are still confident. They agree with us that houses are actually a bit too cheap, all things considered because inflation is quite high.

The one thing I'd have to say is if you can't afford a mortgage at the moment - think about your expectations. You might have thought previously that you could afford a 4 bed, but if you can only get a 3 bed for now is that really so bad? First time buyers especially I feel need to be realistic!

Property always goes up and it's no different now. We're really confident and having seen it all in this game, we really think it's time to believe in the market💪

OP posts:
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Sparklingbrook · 14/10/2022 17:42

Manopadmanaban · 14/10/2022 15:28

I hope OP comes back tonight with her infinite wisdom.💪

It might be one of the tenant's birthdays so they'll be off to deliver the Pizza Express vouchers.

TheJadeRabbit · 15/10/2022 00:33

YABU. As someone who is growing up in the modern day, the idea of owning my own house in a reasonable amount of time is an outlandish idea. The average household income in the early to mid 90s was around £20K, this was an easier time to get a mortgage or even outright buy the house you were looking for.

My dad in the 90s was earning below the average wage and could still afford to mortgage a 3 bedroom house at the time. The house is now worth 7 times what it was and no one below the average wage would ever be able to mortgage the house.

Houses in the 90s were on average worth 35-45K depending on area with the average household income being 20K if both people were working. Houses in the 2020s are worth over 200K on average and the average household income only being 30K. House prices have risen 4-6 times as much as they were while wages have only gone up 50%.

AIBU in thinking that I'm not going to be able to afford a house? No I am not, most banks wouldn't offer a mortgage anywhere near large enough to buy a house on the average wage.

Maggiethecat · 15/10/2022 01:20

This was definitely a wind up thread

DeadHouseBounce · 18/10/2022 21:03

AuntSalli · 13/10/2022 12:37

@vera99 you didn’t read that as a call to prevent a house price crash then ? For more intervention to ensure it doesn’t happen because that’s exactly how I read it.

The consequences are too high, I think this is the point demonstrated by the willingness to borrow for tax cuts, they don’t give a fuck how much debt youre in, they don’t give a fuck how much debt their in, as long as the wheels keep turning.

Bond market gives a fuck, that has been clearly demonstrated to the UK government now. The days of bailing out the Property Ponzi are over. Best thing people can do now is get a second job and start paying down that mortgage debt as fast as possible!

DeadHouseBounce · 18/10/2022 21:07

Theluggage15 · 12/10/2022 07:14

You sound like a complete moron. We bought our first house in the early nineties on 3x salary and it was very affordable and we were just in normal jobs. There’s no way my children can do that and they are in similar level jobs and age, house prices are completely out of their reach.

I loathe people like you, smug and ignorant.

"I loathe people like you, smug and ignorant."

So does the Bond market, and it`s hungry.

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