Offer 30% below asking

[CheekyFakers]

A number of valuations all arrived at the same marketing price.

Healthy number of viewings to begin with (though feedback notes didn’t quite match who came through the door, numbers wise) but no offers. To be fair, this was right in the mini-budget aftermath.

After pressing the agent, one chap came to view. Took a few days to come back with an offer 30% below asking on a £1.7m property.

Is this pure CFery? Is the market that bad? Or have agents been known to send associates round to view and make guaranteed ‘no, thanks’ offers?

If it’s pure CFery, I’ll be making a note to try this myself!

Oh I haven’t noticed lower rents that must have passed me by. By the time rents start to significantly reduce, the housing market will be recovering unless you think house prices will fall by 10% and then another 10% and so on indefinitely?
Sorry if you’re uncomfortable with rental prices but I guess it’s just tough titty really. Good Luck waiting for them to come crashing down. You’re doing your bit with all the scaremongering re people buying property. Doing your bit to keep rental prices high that is, because if people are afraid to buy or decide to leave it a few months, that will help to keep rental prices high.

Rent increase explained
In September 2021 inflation was 3.1%, and by January 2022 it had risen to 5.5%. This year the government formula allows us to increase rents by up to 4.1%. This is equivalent to the inflation rate in September plus 1%.
I wonder what renters will be paying next year ?

No, younger people are going back to parents, not ideal but they are saving a ton of money, in a proper recession a lot more will go back to parents and city rents will tumble. Why anyone would bray about rents for basic shelter being high is beyond me, unless you are a landlord?

🤣🤣🤣 going back to parents again fucking hilarious. My dad sold the family home out from under our nose when I was 16 and made me homeless. Mum was in a council flat so absolutely no spare room there.

When I got divorced, the judge made it very clear that there was absolutely no consideration going to be made for children over the age of 18 in terms of housing needs.

Again, the people that you think will benefit from this scenario are middle class professionals who’s parents would’ve just contributed the deposit or bought the first house outright anyway no matter what the price of the house.

I’m not a landlord I’m just matching the unpleasant tone you use when describing homeowners to try to show you how unpleasant it is.
Young people may live at home for longer but eventually they want to be independent, like my daughter who bought her first flat this year aged 30. Would be unreasonable to expect her to live at home much longer, surely.

So again your personal situation is to be generalised to the whole of the UK? One of the problems with these boards is that it is me me me all the time, maybe that is why people can`t get their head out of the sand and see the bigger picture of what is and has been going on? So are you saying that only middle class kids will have spare rooms to crash in and save some money or what is your point?

I’m pointing out the bleeding obvious that with bedroom tax any working class parent will be penalised if their child moves back home, which they may or may not be able to afford to subsidise even if they have the room.

Middle-class children were always going to be given the option to move home no matter what the price of a houses to allow them either to save, increase their earnings in line with and or travel and not do either then be handed the deposit/full house payment when the parents have had enough of them.

The rich wont care either way, but if we take princess Di, the Middletons, Camila for example, their parents purchased property in London for their children to stay in at the leisure until prince, charming, turned up.

obviously people are going to draw on their own experience is to demonstrate to you repeatedly why this scenario is highly unlikely but obviously we are all wrong and you’re right.

Saying that someone is responsible for the amount of debt they get themselves into is unpleasant? Oh well I must be really unpleasant. The point about age is fair enough but I am talking about an emergency situation (now) I have spoken to people recently your daughters age who are moving home and they will be saving a TON of money, you can still jump on an aeroplane go to work and have friends/relationships while living at home, it isn`t a maximum security prison (not most of the time)

God help the working class kids whose parents don’t actually own house is themselves and are renting, they get heavily penalised because the parents will actually lose any benefits if the kids move home that are potentially paying their rent at the moment. So those kids will be told they just have to sort themselves out.

Your tone on Mumsnet is often unpleasant as you seem to be gleeful about young people struggling with mortgages and fears about the future, you say LOL on many posts as if you find it funny.
Of course people can enjoy living at home but most people in their 30s would prefer to be independent. Many of them have children of their own so staying in the family home is not an option.
Mortgages & rents are both sky high unfortunately.

There really isn't any point trying to explain facts to DeadHouseBounce, they have form on it. People with an agenda like thay have will always just stick their fingers in their ears. Prove them wrong, and they will just wait a page or two or change threads and say exactly the same thing again, hoping to convince innocent people who haven't read the facts you have already pointed out.

A proverb that might amuse you- 'never try to teach a pig to sing, it wastes your time, and it annoys the pig'. But I admit I too have sometimes been provoked into trying the equivalent activity, because of those innocent people who might otherwise be deceived.

The other one, I like is never wrestle with a pig, you both get covered in mud and the pig enjoys it.

I bought my first when I was 23 back in the 90s.
30 is quite late for someone to get on the ladder, it's just not seen so these days.
You stick up for 'homeowners' but don't take into account your daughter has been robbed of a basic need for shelter at the expense of people like myself who became very wealth during the past 3 decades. It's quite insufferable to think 'homeowners' on the whole really are this selfish but there's nothing you can do when people put themselves ahead of their children.

I don’t get your point.
How were you or I being selfish in buying a home ourselves to live in? You became wealthy through the rise in property prices, so did I. But I don’t consider myself selfish to have bought a house to live in, we all need shelter as you say.
Ive been able to help my daughter get on the property ladder through the sale of my Dads flat and when I die my children/ grandchildren will inherit more money from the sale of my own property which will hopefully help them in life. I don’t see it’s selfish for a person to own property or to leave the proceeds of the eventual sale to the next generation. It’s normal behaviour isn’t it?
Im not talking about second properties here but a primary residence you live in.

People weren't being selfish by buying a home to live in they were selfish with allowing massive house price inflation. If homeowners had been against it we'd have never got into this situation in the first place as Governments go with the popular opinion. But people were happy about their house going up 10% a year and didn't stop to think about the consequences.

Most people in this Country are screwed. I have properties here and abroad, other assets here and abroad and took advantage of this mess. I would rather have not had to play this ridiculous ponzi game to survive but people have it coming to them as actions have consequences.

How was I selfish in “allowing” massive house price inflation, I didn’t have any control over that.
You own several properties home & abroad which is not something I really approve of. You could have made a living in other ways but I fail to see why I should feel any guilt for owning one home that has hugely increased in value.

Did you speak out against it?
If not there's your answer.
You allowed people like me to get very wealthy at the expense of your childrens future if you didn't speak out.
Those of us that spoke out were marginalised. I was an early HPCer, but realised the game was rigged so gave up putting my time into speaking out and started putting my time into getting wealthy.
As for making a living in other ways, I did. I've put a lot back into society as an academic. I also put money into property because homeowners wanted low interest rates so didn't allow me to put it anywhere else.

I allowed people like you to get very wealthy? You know what, if you have made a lot of money through owning multiple properties here & abroad then that’s on you. You can pretend to wallow in guilt if that makes you feel any better, but to me it’s hypocritical. Your situation is not my situation so I don’t feel like I have anything in common with you. I don’t need to feel guilty for owning a family home so don’t drag me into your faux sadness at what “we” have done to the property market.

I don't feel the least bit guilty about it. Why should I? People like you who have been ok with your house going up 10% a year because you're happy with the easy wealth that you can pass on to your Children haven't stopped to think about what they're doing and have been continually ignoring the fact that it's not going to be of much use if GBP gets panned and the Country ends up in the situation which it is now. Unless you've got some dodgy IHT avoidance scheme I'm not sure how you think this is a good thing because where else is the money going to come from to plug this hole?

I'm self aware of what I've been doing, and made a conscious choice to minimise my exposure to the madness of the property obsessed and take advantage of it.

Most people don't realise when they're on the wrong side of history. Collective madness has happens in every generation in one way or another. In a few centuries time people will look at this housing mess and wonder how people of our era could have been so inhumane. And you are on the wrong side of history and have messed up your childrens future whether you are aware of it or not.

Oh bore off Dead House Bounce or whatever you have name changed to.

Yeah of course, it's a conspiracy against you. Stick your fingers in your ears and chant nanana if it makes you happy, you can't avoid the fallout either way.

And I've got to say I'm having a good chuckle at that chap who owns an average house and is still positive about house price inflation when it's pocket change to people like me these days.

It’s almost a LOL situation isn’t it DHB?

Agree with this!

Oh sorry, the conversation has moved on