Boomed!

[HeliCraig]

He seems quite bright to me to cut his losses, no?

I would have just stayed there for a few years - there was no change in circumstances to provoke the move. Why sell at the bottom of a market? (If we are at the bottom?).

 

[sasguru]

I can not honestly claim it was her against me: it was both of us against my better judgement. Might have made the right choice anyway, my better judgement has been occasionally right but never fun.

I am not certain that decent houses in decent areas will really crash horribly: obviously nobody is buying now, since everybody "knows" what the media tell them, that houses will be 40% cheaper next year; what we have here is a market that's not moving. When it does, we shall see what the prices are like.

Not quite right to say it's the "media" telling them that.

1. The data show that house prices have declined 10% in the last year.
2. US prices have fallen 20% in the last 2 years and no sign of bottom, yet.
3. Prices would need to fall 40% from peak to reach their long run average.
4. Mortgages are much harder to come by obviously.
4. Unemployment is on the up and eventually this will lead to more repos.

I think a 40% drop is optimistic as usually pessimism is exagerrated (just like optimism) and so prices will overshoot downward past that mark.

 

[sasguru]

I would have just stayed there for a few years - there was no change in circumstances to provoke the move. Why sell at the bottom of a market? (If we are at the bottom?).

We're nowhere near bottom yet.

 

[Dark Black]

Result! No mean feat in these times. Congratulations

Cheers

I had a fairly small mortgage on the house so most of the difference between that and the (higher) rental costs will be met from the interest on the equity if necessary.

I suppose though, really, I should get myself off the bench again once we've moved and put some money back into the company