It's very different to the early 90's where we didn't have internet isn't it?

jamescredmond

Gangstabird wrote: »

I remember buying my first flat in 1990 when my interest rate was 14% and my mortgage was around £38k. When it all went wrong we just didn't have the information that is around currently; the internet.

It's amazing that hourly we are able to check all of this stuff and I think that is adding to the panic. People still managed to get out of debt and buy another property. I did.

It will be tough but I think many of us need to stop reading about everything so much and take up fishing/golf/embroidery or something instead of reading.

What will happen will happen. I have just read the whole scenario about Martin Lewis being to 'blame' for the Iceland thingy and had to laugh as he is no more to blame than the wilsons in Croydon or wherever they are.

Sending good thoughts to you all and will take up the quilting that I planned to do 8 years ago and NOT keep reading about the doom and gloom.

what is this? I'd got you down aged 30.

an early mortgage, obviously.

any info tool works both ways.

and what's this about 'quilting'? when you're old enough I'll tell you.

meanwhile, I'll carry on with my golf: **the youngest guy on the course, aged mid-40's***.

brit1234

The internet surely must of helped the boom and now it is clearly helping the gloom. In reality the internet has helped to magnify sentiment which ever the way the wind blows.

On the plus side of the internet it gave me a valuable insight into what was going to happen and has saved me fiancially a few years back from making a big mistake.

I believe if you go past the internet soundbites and use it to understand the deeper issues it is a valuable tool of information.

Gangstabird

jamescredmond wrote: »

what is this? I'd got you down aged 30.

an early mortgage, obviously.

any info tool works both ways.

and what's this about 'quilting'? when you're old enough I'll tell you.

meanwhile, I'll carry on with my golf: **the youngest guy on the course, aged mid-40's***.

Nearly 40 I'll have you know and quilting is the 'new Prada' doncha know:rotfl:

Gangstabird

I obviously started this post before I found out that smacking is banned as from tomorrow, so don't expect any lovely quilts, just me posting that I am going to the Dr's to get valium:D

MiserlyMartin

It is different in that there is more discussion and info around but I don't believe that has helped the crash or sped it up. Look at how long housepricecrash.co.uk has been around - 2002! Houses did not crash because those 'doom mongers' were talking about it on there for all these years. It happened from a trigger of loads of events coming together be mainly the waking up to the fictional price levels it had got to.

lostinrates

Gangstabird wrote: »

I obviously started this post before I found out that smacking is banned as from tomorrow, so don't expect any lovely quilts, just me posting that I am going to the Dr's to get valium:D

I'm thinking about quilting too. I have load of old things which I'd like to keep in some form, so I've been stock piling. I think the idea of sewing them as patches seems fun, but sewing them together seems more daunting.:o

PasturesNew

You won't catch me quilting. That's for old ladies!
I have a birthday next month (feel free to save for that/send presents etc).
I am in age denial. It's now time to lop 15 years off my age, not the 10 I currently have been using.


I wish I'd been able to buy a home in 1990 for £38k. Where I lived I realised the game was up in about 1988/89 when studio bedsits were £70k in my town, so I bought a mobile home to live in. Then in 1990/91 I got a shared ownership studio house (semi/end of terrace, house, bed on a balcony, own front/back garden and good parking spot) which was valued at £52k, I was offered 50% at £26k and to get a mortgage was hell. Nobody had heard of SO in those days. The local authority weren't giving me any clues as to who might mortgage such a property. Eventually, driven almost to distraction, I found an advisor that listened to me/the deal and spoke to a Building Society manager who was prepared to listen and consider the offer. I eventually got a mortgage for it. Hard to do it though!

I eventually sold it back to the council, in a hurry but the deal said I could sell it back to them so I did, in 1997. Still in negative equity, I had to write a cheque out for 5% to buy myself out. I had that much so that wasn't a problem. I wasn't moving out due to debt, just a change of life circumstances and a ridiculous thought I was going off to a better place. Doh, another wrong move, eh!

Low prices, higher interest is better because ultimately the capital you owe is less and you therefore stand a better chance of chipping away at the underlying debt.

neverdespairgirl

jamescredmond wrote: »

and what's this about 'quilting'? when you're old enough I'll tell you.

Patchwork quilts are great. I started my first aged 15.

PasturesNew

I tried making a patchwork quilt when I was about 15. I think I ran out of enthusiasm somewhere down the first 4" side of the first join. Hand sewing is SOOOoooo slow. And I was using up scraps of material that existed, which weren't inspiring at all. I doubt I ever had more than enough to make a teddy bear's quilt to be honest.

neverdespairgirl

Over the last 16 years, I have made most of it into a double bed quilt. Not yet finished, though.

I did, however, make a cot quilt for Isaac. And finished it!