firstbuy / homebuy first time buyer scheme

[northernladuk]

couldn't agree more ... more research is needed. heres some for you... in terms of a consistant measure of value (ie gold) prices have already crashed ... big time.

past performance is not an indicator of future performance ... the era of house prices doubling every ten years are gone. We are turning into Japan

My first reaction reading this is you can write about anything if you want a shock headline but it doesn't mean anything. You compare the price of your house against a rising commodity? So what? Does that really affect the house price or how much a pound of butter is? You get my meaning? If you really want a shock headline why didn't he compare the price of house against a loaf of bread. Bread has gone up 2000% in 50 years. That will make your house price a bit sick. It doesn't really make much difference to the man in the street. I only have a basic knowledge of economy but I don't see this comparison as one to consider really.

If you think house prices have crashed why not buy then?

My take on all this is..Your house is your home. Whatever goes on around you you have a home and you need to keep hold of it. If you are lucky enough to buy in a dip then great, if you didn't that's life but at least you have a home. It is not an investment, it isn't something you are going to make anything on until you retire and it is so long term. You can take advantage of peaks and troughs though. Upgrade when there is a crash so you get a bigger house that has lost more, downsize in the boom times so you the increase on your house is more. Whatever you do you still have a home.

I maybe missing a trick here by being blinkered but I am happy to be so as long as I have a home and ability to pay it off as quickly as possible. This is my opinion of course.

[Mister Clark]

If you think house prices have crashed why not buy then?

My take on all this is..Your house is your home. Whatever goes on around you you have a home and you need to keep hold of it. If you are lucky enough to buy in a dip then great, if you didn't that's life but at least you have a home. It is not an investment, it isn't something you are going to make anything on until you retire and it is so long term. You can take advantage of peaks and troughs though. Upgrade when there is a crash so you get a bigger house that has lost more, downsize in the boom times so you the increase on your house is more. Whatever you do you still have a home.

I couldn’t agree more.

Comparing the rise of gold prices against that of property prices is entirely false.

Go and buy 10k worth of gold today and tell me what its worth in 10 years time, I bet you don't double your money as we are nearing the top of that particular boom (and see what happens to your gold investment if America decide to flood the market in an attempt to stave of another recession).

Conversely by your own admission property prices have crashed; judge when that dip is at its lowest (good luck), buy property and watch your investment double in value or more over the next 10 years while someone is paying your mortgage for you and netting you 5% profit on your investment evrey year.

Last option could be to freeze a load of bread and wait 50 years; you will make a mint.


PS - Suggest you read and understand how the housing scheme you are thinking of exploiting actually operates before you post on a public forum asking for guidance