tag:blogger.com,1999:blog-2042823968101983560.post5294179756694271532..comments2024-03-05T09:10:31.164+00:00Comments on Coulda Shoulda Woulda: House Prices and Social AnxietyCoulda shoulda wouldahttp://www.blogger.com/profile/12507021618497645667noreply@blogger.comBlogger51125tag:blogger.com,1999:blog-2042823968101983560.post-47379032647596703702013-12-04T11:30:29.603+00:002013-12-04T11:30:29.603+00:00Well you bring up a great point - prices go up and...Well you bring up a great point - prices go up and so you are hedge in but unless you sell how can you profit? unless you uproot or have another investment house. You still need to live somewhere right? Mortgages are a worry because interest rates can go up for sure but maybe you could profit from it by downsizing or going to a neighborhood which is better value and downsize the mortgage as well? But yes win or lose it is an issue...Coulda shoulda wouldahttps://www.blogger.com/profile/12507021618497645667noreply@blogger.comtag:blogger.com,1999:blog-2042823968101983560.post-84769692768736824302013-12-04T04:31:25.898+00:002013-12-04T04:31:25.898+00:00This is very timely - the whole pressure to own pr...This is very timely - the whole pressure to own property is a constant source of stress. My husband and I bought our current house about 7 years ago and since then we've watched the prices of the houses in our neighbourhood skyrocket. However, it is little comfort, because even if the house is worth more, you can't exactly eat bricks & mortar. And the mortgage is a constant worry. Thanks for such a thoughtful post.Louise @ INGREDIENTShttps://www.blogger.com/profile/09883303245642039938noreply@blogger.comtag:blogger.com,1999:blog-2042823968101983560.post-72003129469066952362013-12-01T15:44:26.346+00:002013-12-01T15:44:26.346+00:00Yes I heard about this - Yes they call that trend ...Yes I heard about this - Yes they call that trend the boomerang generation because they go and then they all go back to the ol' home! Except house rules aren't so cute after 30...Coulda shoulda wouldahttps://www.blogger.com/profile/12507021618497645667noreply@blogger.comtag:blogger.com,1999:blog-2042823968101983560.post-49319094984499042892013-12-01T15:43:37.971+00:002013-12-01T15:43:37.971+00:00Yes house maintenance never gets talked about!!! T...Yes house maintenance never gets talked about!!! There is a new trend of people losing homes because they can't afford the service charges...I wish there was roofie scotchtape for you!Coulda shoulda wouldahttps://www.blogger.com/profile/12507021618497645667noreply@blogger.comtag:blogger.com,1999:blog-2042823968101983560.post-90552000843177832972013-11-30T14:27:31.099+00:002013-11-30T14:27:31.099+00:00"Despite the recent economic crisis, house pr..."Despite the recent economic crisis, house prices have not crashed and have depending on where you live maintained its price or increased in value." You can say that again!!! It's crazy, you can actually buy cheaper apartments in Manhattan than in Ljubljana (Slovenia's capita) - and that's no exaggeration, it's a fact, it was all over the news here a few years ago!!! But of course nothing happened or changed since then, at least not for the better. And people live with their parents till they're 35, that's the norm here. Shoot me.Peethttps://www.blogger.com/profile/04955157337035022269noreply@blogger.comtag:blogger.com,1999:blog-2042823968101983560.post-83387625085396035332013-11-30T13:35:51.181+00:002013-11-30T13:35:51.181+00:00It's not just about getting into the housing m...It's not just about getting into the housing market, it's the house maintenance as well. It's raining here, and in the last 24 hours, an entire bucket has been filled from a leak in our ceiling. Back to my diet of noodles and chips.<br />Housewife in Heelshttp://www.housewifeinheels.comnoreply@blogger.comtag:blogger.com,1999:blog-2042823968101983560.post-89978388954972358032013-11-30T10:55:49.923+00:002013-11-30T10:55:49.923+00:00Ha! I shoulda done that too!! I think you were ver...Ha! I shoulda done that too!! I think you were very lucky! I also think that one bedders are the way to go. With people,not marrying retiring divorcing etc one bedders are always needed...but this lease to own must be an American thing bc they don't do that here or in Australia nor Asia. I would love something like that but I suppose in the states they are a lot more creative about purchasing. I noticed that with cars over there as well. There isn't an extensive system of leasing here. But here is to your ever growing empire!! :)Coulda shoulda wouldahttps://www.blogger.com/profile/12507021618497645667noreply@blogger.comtag:blogger.com,1999:blog-2042823968101983560.post-21107857760062205702013-11-29T21:05:40.761+00:002013-11-29T21:05:40.761+00:00Hi Naomi, enjoyed this post, love your research an...Hi Naomi, enjoyed this post, love your research and thoughts. I'm lucky that my dad helped me with about 60% of the down payment for a very modest one-bedroom condo in an OK part of town while I was in my last months of college. The next property, which I still own, was what some (most?) would consider a crazy idea. It's once again a one-bedroom condo but with no parking! For the same price, I could have -- coulda -- had a two-bedroom house with a garage maybe just five miles away. But here's the kicker, think that house woulda ;) rode the ups and downs while the small condo held and steadily increased in value (it would now sell for a ridiculous price and I often get "if you ever want to sell" notes stuck on the door). It's half a block from the beach/ocean in one of the most exclusive seaside cities in Southern California. And one of the best things is I bought it on a lease-to-own deal so in essence saved up for the downpayment while living there ... do those arrangements still happen? I had just learned about lease to own the week from a real estate friend when I found the deal by chance. Talk about somebody looking out for me ...tiffany rosehttps://www.blogger.com/profile/16105832290440620053noreply@blogger.comtag:blogger.com,1999:blog-2042823968101983560.post-73563978725572640442013-11-29T10:27:22.765+00:002013-11-29T10:27:22.765+00:00Well yes - this is precisely that. Even in your p...Well yes - this is precisely that. Even in your position it seems that people still worry. It is crazy isn't it? Because as you say - you are fine but what about your children? And what would have been classed as super comfortable a decade ago is now still getting by and having financial worries of sorts even if it may not be a pressing economic matter. We have definitely entered a new age Dani...Funny though because I also have lived in my house for 8 years and it is the longest I have lived anywhere! But I would like to move on to somewhere new...Oh and thanks Dani - very kind of you to say xCoulda shoulda wouldahttps://www.blogger.com/profile/12507021618497645667noreply@blogger.comtag:blogger.com,1999:blog-2042823968101983560.post-85362687722179448362013-11-29T10:23:23.348+00:002013-11-29T10:23:23.348+00:00Yes owning a home definitely has its own stresses ...Yes owning a home definitely has its own stresses not many people mention - not many acknowledge the maintenance fees and that the only time you can profit on a home rising is when you seel but then where does one live? I think there are positive aspects to both owning and renting and I think the media has to highlight both of them rather than pretending that owning a home is the only option....Coulda shoulda wouldahttps://www.blogger.com/profile/12507021618497645667noreply@blogger.comtag:blogger.com,1999:blog-2042823968101983560.post-83049523444759471682013-11-28T22:49:33.881+00:002013-11-28T22:49:33.881+00:00I've been thinking about this so much these la...I've been thinking about this so much these last weeks, we've been living in our house 8 years, the longest I have ever lived anywhere, and we have our mortgage nearly paid off. However I have anxiety about it I did not have before, as soon as that is paid in 15 months I want the mortgage finished on our office property, but really it's a stupid stress as that interest is a complete tax write-off for my business. Why the insecurity I wonder? Well maybe it's zeitgeist. Another factor could be our Rascals, we have two in Uni and are paying their education but now we're thinking about "how are they ever going to own a home" and talking to our accountant about the best way to help them... unheard of in my generation among my friends, and I'm 43 and from an upper-middle class background, my parents didn't pay for Uni and would have laughed at the thought of helping me buy a home, what the heck has happened and how will it end?<br />Super-interesting post Naomi, love the way you write about things.DaniBPhttps://www.blogger.com/profile/02633155240779845497noreply@blogger.comtag:blogger.com,1999:blog-2042823968101983560.post-68046150204043046502013-11-28T19:20:29.033+00:002013-11-28T19:20:29.033+00:00I always loved Brixton, worked on Right To Buys fo...I always loved Brixton, worked on Right To Buys for the council there (for my sins) when I first got to London, 25 years ago, I'm sure its transformed now!About Last Weekendhttps://www.blogger.com/profile/04716571630418078937noreply@blogger.comtag:blogger.com,1999:blog-2042823968101983560.post-11221012664557556442013-11-28T17:51:09.399+00:002013-11-28T17:51:09.399+00:00CSW ~ you point out so many social issues related ...CSW ~ you point out so many social issues related to home ownership. I lost my home in the GFC, and will probably now retire without owning my own home me again. And I suppose I could stress about that, but to be honest I stressed plenty trying to hold on to my home and the mortgage I had and on one level not having to contend with all the hidden costs of home ownership, the ups and downs of property markets, the no win attitude of banks, has been a relief ~ for now. As you point out, this is a first world problem. Thank you for mention and cross post.Carolhttps://www.blogger.com/profile/05592150238891296272noreply@blogger.comtag:blogger.com,1999:blog-2042823968101983560.post-59411592962445393452013-11-27T10:51:37.896+00:002013-11-27T10:51:37.896+00:00Well Brixton and Hackney weren't exactly the m...Well Brixton and Hackney weren't exactly the most salubrious but old pretensions are no longer applicable. Yes the house prices in Peckjambon are around there and climbing as we speak. There is all this mised opportunity and sense of failure for some and unbearable smugness from others but your area is crazy bc ultimately it has jobs..Coulda shoulda wouldahttps://www.blogger.com/profile/12507021618497645667noreply@blogger.comtag:blogger.com,1999:blog-2042823968101983560.post-83534109207405290012013-11-27T02:24:46.204+00:002013-11-27T02:24:46.204+00:00Interesting. When we sold our two bed basement fla...Interesting. When we sold our two bed basement flat in London (Notting Hill, but still) I thought it was crazy prices. Now my sisters tells me her two bed place in Peckham. London is now worth $700,000. Now of course that creates mucho anxiety that we did not keep our flat. When will the bubble burst. People in London will not believe this but the prices in Oakland where we live (murder capital of the US) are totally crazy tooAbout Last Weekendhttps://www.blogger.com/profile/04716571630418078937noreply@blogger.comtag:blogger.com,1999:blog-2042823968101983560.post-18349255276034133042013-11-26T10:15:48.413+00:002013-11-26T10:15:48.413+00:00Yes I do wonder if the island mentality is somethi...Yes I do wonder if the island mentality is something to do with this urge for owning. Also I notice English speaking countries like to own rather than rent. In Germany the shift is also turning with buying on the increase. Like you mentioned there seems to be no guarantee in social welfare anymore either. There is also talk that there is too much "hogging" of single people taking houses that young families live in. Welfare housing is changing and I think there is a reverse upward effect about things like that.<br /><br />I think that for reasons of stability it is good to buy because I have had friends happy to rent but they end up very happy in the area and home to ultimately get kicked out because the owner wants to sell etc. If anything I want to downsize as much as I love my home - there is a lot of space we don't use and sometimes I think it is a bit of a waste and only ends up being a storage room!Coulda shoulda wouldahttps://www.blogger.com/profile/12507021618497645667noreply@blogger.comtag:blogger.com,1999:blog-2042823968101983560.post-71984791851716885952013-11-26T10:08:42.280+00:002013-11-26T10:08:42.280+00:00Timing is crucial. Sorry to hear about that but I...Timing is crucial. Sorry to hear about that but I would get it valued anyway because with rental properties you should get a valuation letter for future tax references anyway. You may be surprised it has regained in value lately. As I like to say - it ain't over baby so don't think it is a bad deal because these cycles are just that and you just bought just before 2007. You might be selling next year with all the movement in the market and finally moving into the home of your choosing! Good luck with it though xxCoulda shoulda wouldahttps://www.blogger.com/profile/12507021618497645667noreply@blogger.comtag:blogger.com,1999:blog-2042823968101983560.post-22682614013918233002013-11-26T10:05:04.287+00:002013-11-26T10:05:04.287+00:00If you are serious about getting on the housing la...If you are serious about getting on the housing ladder, just focus on your finances. There were always be people so much better and so much worse off so I say this sincerely when I say don't waste any energy on that sort of competition. Truly. You seem like a level headed girl so just concentrate on your own aim. I think a parallel investment vehicle is the way to go but not in stock as timing is never right and that should only be done with "extra money". Try not to invest in a two bed bc those are the lowest returns. Think maybe a small three bedroom house in Bendigo/Geelong/Mildura or a mortgageable studio in the city. Something that is always in demand and easily rentable. I wish you luck and let us know how you go xCoulda shoulda wouldahttps://www.blogger.com/profile/12507021618497645667noreply@blogger.comtag:blogger.com,1999:blog-2042823968101983560.post-1176230210546818342013-11-26T09:35:50.254+00:002013-11-26T09:35:50.254+00:00Very interesting post, as usual!
We live in Switz...Very interesting post, as usual!<br /><br />We live in Switzerland where renting is the norm. Apartments are well maintained and rents are reasonable. Even here though our friends are buying and it does give me some anxiety, that and knowing how many of my friends back in Canada and the US are buying. If/when we move back, I'd want to try to buy in part because the rental stock is so bad and tenant protections are poor. <br /><br />It is certainly an anxiety producing question at this moment in history. I think it's also just about havig some kind of flag that signals security in insecure times, even if it is false security. <br /><br />I'm content renting, especially as we keep moving around the world, but I'd like to own by retirement. Even here, my friend had some very elderly neighbours who were nearly kicked out of their rental because it was supposed to be a subsidized rental for young families. I think that they were allowed to stay in the end.Abbynoreply@blogger.comtag:blogger.com,1999:blog-2042823968101983560.post-50346818654808774822013-11-26T05:13:24.667+00:002013-11-26T05:13:24.667+00:00Oh don't get me started on the Bentleigh milli...Oh don't get me started on the Bentleigh millionaires!!! Cannot believe the prices there, in fact any where between about 15km and 35km of the city has sky rocketed. I love your common sense advice on the competition thing because it's doing my head in a little (more with the competitive colleagues than my actual friends) but it seems to be the gloating point of the moment to say you bought a house/apartment and feeling a little left behind!!! I will consider your investment strategy. Very interesting idea!!Annenoreply@blogger.comtag:blogger.com,1999:blog-2042823968101983560.post-54068843937925832692013-11-25T21:57:02.496+00:002013-11-25T21:57:02.496+00:00One of my parents' biggest regret was not buyi...One of my parents' biggest regret was not buying a property that came up for sale 30 years ago - it's tripled in price now but at the time, although they could have afforded it they were just starting out and no way could they have envisaged what would happen 25 years later. 6 years ago I bought a new build flat because I didn't want to have the same regret as my parents, but low and behold, my regret is even bigger - I'm sure it is now in negative equity (i don't even want to check) and the service charge has sky rocketed. I'm desperate to sell it, but it's not the market to sell. Fortunately I have a tenant who is very reliable with paying her rent, but if I could go back 6 years knowing what I know now, I wouldn't have touched it with a bargepole. The house I'm in now is not where I want to live out my years, so I am saving for a new one, but............not holding my breath. Sad times! xxAnonymoushttps://www.blogger.com/profile/16533644247275257358noreply@blogger.comtag:blogger.com,1999:blog-2042823968101983560.post-17120289399736895782013-11-25T20:32:16.982+00:002013-11-25T20:32:16.982+00:00Yes babies change things hugely! But you are lucky...Yes babies change things hugely! But you are lucky to have bought when you did. Funny we wouldn't be able to buy our house right now either!!xxCoulda shoulda wouldahttps://www.blogger.com/profile/12507021618497645667noreply@blogger.comtag:blogger.com,1999:blog-2042823968101983560.post-22325137174122184302013-11-25T19:21:41.450+00:002013-11-25T19:21:41.450+00:00Well, as usual, you put it all down so succinctly....Well, as usual, you put it all down so succinctly...all I have to offer is a "yes agree to all"<br />We had to move out of London, as with a baby throwing a big old spanner in the works, we needed a bigger place and we did not have £800,000 in the bank for a 3 bed semi....and 4 years on... I would now not be able to afford my current house! Crazy xxxAnonymoushttps://www.blogger.com/profile/17862736961575837596noreply@blogger.comtag:blogger.com,1999:blog-2042823968101983560.post-88044711045530073852013-11-25T14:35:04.535+00:002013-11-25T14:35:04.535+00:00Funny - the problem here is that there aren't ...Funny - the problem here is that there aren't enough starter homes. There isn't enough land to begin with. Also at times I do think there is such a divide between what people can afford and what people want. I see homes that aren't great and in the past people have passed them up because they were ugly or some other reason and now those same ugly unfashionable houses are out of their league! So depending on where you are I don't know if many people can afford to be choosy. But 275K for a starter home in your mid twenties is still a lot of responsibility nevertheless!Coulda shoulda wouldahttps://www.blogger.com/profile/12507021618497645667noreply@blogger.comtag:blogger.com,1999:blog-2042823968101983560.post-53790684523471476622013-11-25T14:12:50.937+00:002013-11-25T14:12:50.937+00:00We are a rather transient society and renting, for...We are a rather transient society and renting, for most, would be better. Our typical home owner is lucky to be in their house three to four years. Hard to get ahead of the mortgage with that length of time. We build mid price homes and for many it is their "starter" home. Our first home the previous lady had died in it, shag rug, avocado appliances, kind of a dump. Now, mid twenty year olds get a $275,000 home. Blue Boobyhttps://www.blogger.com/profile/13504819843930360278noreply@blogger.com