Premier Property Lawyers Conveyancing

[nomadd]

No you didn't. You were pulled up on making a silly post and are using me as an excuse.

Actually, the point I was making was that nobody can predict the future (not even SueEllen after a glass or two of the grape juice. )

But me? If I were looking to buy a property now - which I'm not - I'd be looking for at least 30% off what have clearly become unsustainable, cuckoo-land prices in the last few years. ..And I felt that way before the s**tstorm of leaving the EU came into play. Now, I'm just going to bide my time and see how things pad out (easy for me to say, as I have access to a fabulous, cheap rental property; your situation may be very different however.)

So I'm actually agreeing with the sentiment expressed by SueEllen, but I believe that that brief "two years" of negative equity may well turn into ten or more. But hey, that's just me trying to predict the future.

[SueEllen]

To be fair I was thinking of the 90s recession which lasted more than 2 years not the most recent one which hardly effected London.

All the people I know who had problems either walked away due to the rules then, or have paid down their debt from selling/handing in the keys too late after the rules changed due to house price inflation.

However no one can predict when bubbles will burst. One of the reasons I said talk to real people as they will look stressed when they tell you their tales of that time and tell you the things that sent them over the edge.

I was actually at school then and am related to people who issues then so certain things were drummed into me such as not buying properties of specific sizes.

[heyya99]

Actually, the point I was making was that nobody can predict the future (not even SueEllen after a glass or two of the grape juice. )

But me? If I were looking to buy a property now - which I'm not - I'd be looking for at least 30% off what have clearly become unsustainable, cuckoo-land prices in the last few years. ..And I felt that way before the s**tstorm of leaving the EU came into play. Now, I'm just going to bide my time and see how things pad out (easy for me to say, as I have access to a fabulous, cheap rental property; your situation may be very different however.)

So I'm actually agreeing with the sentiment expressed by SueEllen, but I believe that that brief "two years" of negative equity may well turn into ten or more. But hey, that's just me trying to predict the future.

I am in no hurry to buy, bar just getting it over with. The reason I stepped up my search pre-Brexit was that I wanted to take advantage of the jitters and agree a price below asking (which I did) and not have to compete with everyone else who waited, as prices go beyond my reach.

I'm now in the situation where I can relax, as prices aren't going to go beyond my reach anytime soon. I have told my agent that I'm withdrawing on the agreed price but would be willing to listen if Brexit was factored into the price. I suspect that'll be a no (or not enough of a drop to persuade me) and I'm content wth that.