Storm clouds ahead. A time to buy or a time to sell?

[umblecumbuz]

With world financial turmoil, economies stagnating, property values falling, cash being eroded, uncertainty at every turn - desperate sellers are offering amazing bargains.

Plenty of incredibly cheap Mercs to be had.

Is it a time to buy, a time to sell, or a time to hunker down?

Baz

 

[Frontstep]

If you want or need then buy if not don't,
but at all times buy the best for the least.

 

[cleverdicky]

Depends how much you have and what you can spare. I might consider taking advantage of someone's need to sell, to trade up as it were. That's what makes the world go round. And always will.
I wouldn't 'waste' any trying to speculate, but even in worse case, things can only get better. Otherwise you wont be able to buy the fuel to put in one.
Best advise dont buy for the sake of it. But if a good one at the right price comes along without getting in debt, grab it.

 

[discoking]

It's time to buy big petrol and if you've got one time to sell diesel.Hunker down in your 4x4

 

[dieselman]

Forget cars, what about houses?

 

[television]

Forget cars, what about houses?

Would that be one with diesel heating

 

[roofless]

Forget cars, what about houses?

New house sales are steady & on the up........ well up here

 

[umblecumbuz]

Just completed sale of my place on Malta - to a man from Libya!
Also sold all the furnishings etc, plus my Maltese-registered car. Fortunately, just avoided big Euro drop.
Housing markets locally might show gains, but internationally - like most other things now - buyers are wary, and as rare as hens teeth. Bargains to be had.
Hence the original question.

Baz

 

[hawk20]

With world financial turmoil, economies stagnating, property values falling, cash being eroded, uncertainty at every turn - desperate sellers are offering amazing bargains.

Plenty of incredibly cheap Mercs to be had.

Is it a time to buy, a time to sell, or a time to hunker down?

Baz

It's certainly a good time to buy with plenty of bargains around and dealers happy to haggle.

But the way Europe is going there could well be another even better time to buy on the way.

 

[shaggy]

never ever buy a car if you want to hold onto your money!(special vintage aside etc)
although i took advantage of the downturn and bought new i understand it will still cost me and i won't like it when it does.
in my opinion its the tax thats killing this country and people won't buy if they think the "bang for buck" is not good, drop the tax and people will spend.
i know its not an answer to the shyte we are in but at least people could enjoy what little or lot they have and at least feel like they are getting what they deserve

in answer to the OP,s original question, yes i think it is a good time to buy

 

[Juddian]

Depends on how secure your income is.

However the most important question, is your house paid for, if it is then assuming your income is absolutely guaranteed, yes of course take advantage and buy what you want, better spend it than leave too much and let the shysters grab a load of death duties tax from you.

If your house isn't paid for then pile as much money as you can without incurring penalties into paying it off quickly if you can, sooner rather than later the carp is going to hit the fan big time, and all the trillions the govt has borrowed in our name without asking us will have to be paid back, and the EU masterstate monster must be fed, that's the moment you'll wish you'd pumped money into paying off the house and forsook the posh car.

We paid our house off about 10 years early by doing this, enabled me to change jobs and reduce my working hours by about 20 a week and we're still better off.

I can well remember mortgage rates of 15%, ended up doing around 100 hour weeks to keep the wolf from the door in those days, sole breadwinner and young family to raise, without the state paying for them either.

Those days will return, Maggie sold most of the family silver and The Liar finished the job, there's nothing left worth selling.

 

[d215yq]

I'd be very wary about holding onto or buying property in the UK now. We're in the biggest recession for years (and its still nowhere near to being solved and there IS plenty worst to come)... austerity measures, soveriegn debt crises in europe, etc.

European housing markets have dropped a good 30-50% in 4 years and yet the UK market is still exactly the same as it was at the start of the crash in 2008...and it is only being kept that way by artificially low interest rates. Wait and see what happens when the cuts come in and the instability causes a raising of the interest rates...the UK market has huge potential downside and very little potential upside (unless you are looking at mansions as the rich seem to be getting richer as always!)

As for cars I'd imagine the market is largely unaffected for second hand buys - for everyone getting rid there'll be some buying second hand that used to buy new and this should go on down the chain...unless i guess you have a sports car or a big old petrol V8 in which case people will run away.

Taking into account the unknown reliability, cost of looking, buying, testing, advertisers, dealers, etc all associated with getting a new car my advice to anyone wanting to be thrifty is to keep what you've got unless it is a complete basket case...even the odd big bill will work out cheaper in the long run if the car is generally a good'un...

 

[prwales]

Sterling has devalued by 30% against the Euro in that time, house prices have fallen, only bouyed up in the SE and by shortages

 

[toby1]

I think we're already in the storm clouds TBH

 

[Rory]

As for cars I'd imagine the market is largely unaffected for second hand buys - for everyone getting rid there'll be some buying second hand that used to buy new and this should go on down the chain...unless i guess you have a sports car or a big old petrol V8 in which case people will run away.

If anything, falling new car sales should force up the price of used cars as there will be fewer coming on to the market.

Far too many new cars are sold in the UK as it is - hence depreciation is much worse here than pretty well anywhere else.

 

[M80]

Forget cars, what about houses?

I would say that it's an excellent time to buy, as many as you can, and mortgages are becoming available again.

To help anyone on their way here I will sell them mine, all twelve, cos' I'm considerate like that :evil:.

 

[Developer]

I would say that it's an excellent time to buy, as many as you can, and mortgages are becoming available again.

To help anyone on their way here I will sell them mine, all twelve, cos' I'm considerate like that :evil:.

I'm in, as long as there's a bogof on offer

 

[M80]

Why not, at least you'd be 'buying'.

Now, the price :-?

 

[Rory]

Forget cars, what about houses?

There's such massive pent-up demand for houses I can't ses anything dramatic happening, especially at the lower end of the market.

At the bottom end of the market it's cheaper to buy than rent now, as rents are going up all the time (due to demand) - I wish I was slightly braver, I'd buy a few places to BTL. I know a couple of of people who do it, but they both seem very stressed out, so it's probably not for me!

 

[drdel]

you'll need to bet on whether inflation is going to hit.

When inflation is high, borrow - because the debt devalues -if you can get incometo rise.

Risky !!

With fewer new cars selling - good used cars will increase in value.

Which all means there are too many variables so take a guess.