Right, Im being boring again, but last time

Phirefly

fc123 wrote: »

We are always near a place called Fosse Park....like a different world.

Fosse Park haha thats my neck of the woods indeed... I'm often too pushed for time to go all the way into town so I often end up scraping the retail barrel there when I've been in-housing at Enderby Towers. You don't have anything to do with Poshak do you? They're a manufacturer near Fosse Park...

hethmar

Oh is it that spanish bloke who continually makes triangle shapes with his hands when he speaks in different locations on the complex? I wonder who told him to do that? "Honest Jose, it will make you come over as sincere".

fc123

Phirefly wrote: »

Fosse Park haha thats my neck of the woods indeed... I'm often too pushed for time to go all the way into town so I often end up scraping the retail barrel there when I've been in-housing at Enderby Towers. You don't have anything to do with Poshak do you? They're a manufacturer near Fosse Park...

No, ours is small and nichey. W Rd. Used to make for 'better end' market. Still makes for people like Brora.
At least 10 stches per inch...none of this 2 stitches per inch to run it out at top speed.

I will PM at the time.;)

chupov

Dithering_Dad wrote: »

It's that Spanish chap who used to be on adverts flogging housing complexes next to Spanish golf courses - they even had Jack Nicklaus on for a while, the catchphrase was something like "perhaps tomorrw, but better today" . The username seems to be a combination of "chucky" and "Topov", probably another ad44downey puppet to add to his napoleon, scousefife, fatpig, etc. sockies. He's probably still mourning his departed Topov puppet, who was PPV'd recently.

Not likely - 'Topov' has a special place in DDs heart since it was one of his 'nasty' personalities (are there any nice ones I wonder) :rotfl:

JayScottGreenspan

Dithering_Dad wrote: »

Certainly that's what I think it is, and I hope JSG feels the same.

Indeed.:beer:

Using equity in your home to invest more widely as you mention is something I've actually considered and will probably do at some point. It's a very cheap way to get leverage and done well it can add quite a lot to your net worth over a few decades.

I wouldn't recommend it to your average punter, though - if you're gonna bet the house you need contingency plans, you need risk management, you need to make sure that you're not really betting the house at all.

Dithering_Dad

JayScottGreenspan wrote: »

Indeed.:beer:

Using equity in your home to invest more widely as you mention is something I've actually considered and will probably do at some point. It's a very cheap way to get leverage and done well it can add quite a lot to your net worth over a few decades.

I wouldn't recommend it to your average punter, though - if you're gonna bet the house you need contingency plans, you need risk management, you need to make sure that you're not really betting the house at all.

I'd definitely not recommend using home equity to fund stockmarket investments - way too risky for me. What I am saying is that from a purely financial standpoint, home ownership is not the route to wealth - quite the opposite, it's a liability.

I was instead sugesting that if a person decided to rent for life, he would be in no way disadvantaged financially than someone who bought a house. Indeed, given that he's free to invest his money immediately in the stockmarket rather than into the repayment part of a mortgage, he could actually be financially better off.

wolvoman

JayScottGreenspan wrote: »

If I wanted to pay more tax, be exposed to boom and bust in the housing market (owning one house is a hedge, renting=short, BTL=long, IMO) and be exposed to risk in my investments... if I wanted that then I suppose I could go down the investment fund route.

Other than the financial and the banal, I still don't get this 'benefits' of owning thing. Is it just some general feeling of satisfaction?

To compare buying and renting.

I bought in 2007 at the peak of the market as a first time buyer.
Deposit of £130k on a property price of £490k.

I've lost perhaps £100k in equity (maybe a bit less but we'll work on that).

Prior to buying, my deposit was sitting in cash and shares (mostly shares). The shares I had have subsequently lost around 70% of their value, so I would have 'lost' £70K anyway if I'd continued to rent.

Oh and my mortgage currently costs me £500 a month, against nearly £1500 if I wanted to rent my place.

So I haven't lost out anymore than I would have done had I continued renting.

Dithering_Dad

wolvoman wrote: »

To compare buying and renting.

I bought in 2007 at the peak of the market as a first time buyer.
Deposit of £130k on a property price of £490k.

I've lost perhaps £100k in equity (maybe a bit less but we'll work on that).

Prior to buying, my deposit was sitting in cash and shares (mostly shares). The shares I had have subsequently lost around 70% of their value, so I would have 'lost' £70K anyway if I'd continued to rent.

Oh and my mortgage currently costs me £500 a month, against nearly £1500 if I wanted to rent my place.

So I haven't lost out anymore than I would have done had I continued renting.

You could have moved your shares from equities into bonds or cash funds when you saw the crash occuring and though you may have lost some money, you would not have lost it all. Your mortgage is £500pm at the moment but what will it cost you when IR's are at 8% or, god forbid, 15%?

fc123

Dithering_Dad wrote: »

I'd definitely not recommend using home equity to fund stockmarket investments - way too risky for me. What I am saying is that from a purely financial standpoint, home ownership is not the route to wealth - quite the opposite, it's a liability.

I was instead sugesting that if a person decided to rent for life, he would be in no way disadvantaged financially than someone who bought a house. Indeed, given that he's free to invest his money immediately in the stockmarket rather than into the repayment part of a mortgage, he could actually be financially better off.

One of the saddest BR tales I have read on another forum was from a wife....the hubby was still in denial. Nearly retired, it appeared they had 'drawn down' equity that was then 'invested'.
The details were sketchy and she did admit to having taken equity loans that got spent, in her words, on 'nice living'.
However, the crisis hit when the investments failed somehow and the mortage couldn't be paid any longer.

I did get the impression they weren't financially sophisticated but felt wealthy as house ended up being worth a 'fortune'. They then felt wealthy enough to be sold a zippy, snappy investment scheme of some sort.