Some of you are vultures

Really2

dazco wrote: »

There is no direct sign of inflation to us underpigs but the UK cannot cope with the lack of international confidence, which will force the Chancellor to raise interest rates.

The UK economy needs saving before Olivia and Tarquins townhouse, there have beeen plenty of shots across the bows, by the government, to homeowners but most seem content to see it out.

IF I was a homeowner, and had equity in my home, then I would have heeded all the governments not subtle warnings and got every penny out of my house and rented immediately.

Why if it is cheaper to run that house than renting?

If you predict a long painfull recession get used to low interest rates also.
If you think it will be over quick you may get the inflation you crave.
Personaly High inflation seems to be an idea born by people beliving they will buy at the bottom than hyper inflation will give them instant HPI.
Lets face it with a weak £ prices are still falling.
So if and when the £ gets stronger in the future hyper inflation looks an even less likely.
Not knocking you belive what you want but I can't see it happening even if they do print off money it will only fill the debt hole, a mountain more would be needed to make hyper inflation.

Sally_Gee

RENT MONEY IS DEAD MONEY

Thank me later.

Davesnave

Sally_Gee wrote: »

RENT MONEY IS DEAD MONEY

Thank me later.

I'll thank you now....Thanks. However, with 6.5% fixed on my 'dead money,' my calculator says I'm being paid to rent, at least until next Christmas.

jyonda

Sally_Gee wrote: »

RENT MONEY IS DEAD MONEY

Thank me later.

You've not really thought this through.

For us, renting a 3 bed house for the last few years was much cheaper than renting the money to buy it. PLUS we had no maintenance costs. Also ,the difference between the mortgage (IO) payment and the monthly rental cost can be invested with interest making renting a much better option finacially.

Long term I'd agree it makes sense to buy but it doesn't make sense to buy at any time.

izzybusy23

Sally_Gee wrote: »

RENT MONEY IS DEAD MONEY

Thank me later.

So is negative equality love...

dazco

http://forums.moneysavingexpert.com/showpost.html?p=7881379&postcount=55

That was posted by me a year ago.

Just to show OP that there is a difference between vultures and people who have a bit of foresight and can recognise the value of things

dazco

Broken_hearted wrote: »

But surely then you would lose money as the rent is higher than the mortgage was and any profit would dissapear.

Are you kidding?

WTF?_2

dazco wrote: »

http://forums.moneysavingexpert.com/showpost.html?p=7881379&postcount=55

That was posted by me a year ago.

Just to show OP that there is a difference between vultures and people who have a bit of foresight and can recognise the value of things

Yep - plenty of solid advice from the MSE 'doom mongers' which has been proven absolutely correct in hindsight. :money: More than one MSEer has posted how reading such opinions here has saved them from making an expensive mistake or got them out of an otherwise sticky financial situation.

In the meantime, the usual suspects who like to have a go at said 'doom mongers' here on the other hand still keep coming out with criminally flawed analyses of the situation - which are likely to cost anyone who listens to them quite a bit of money or put their finances into jeopardy.

Broken_hearted

dazco wrote: »

Are you kidding?

No I worked it out when we were on the edge of going under at the hight of the housing boom. It would only take us 5 years to get through the money and still have rent to pay, making us worse off. Or we could keep fighting to pay the mortgage for another 9 years end up with the house and nothing to pay.
By the time you get onto the property ladder we will be mortgage free.

dazco

!!!!!!? wrote: »

Yep - plenty of solid advice from the MSE 'doom mongers' which has been proven absolutely correct in hindsight. :money: More than one MSEer has posted how reading such opinions here has saved them from making an expensive mistake or got them out of an otherwise sticky financial situation.

In the meantime, the usual suspects who like to have a go at said 'doom mongers' here on the other hand still keep coming out with criminally flawed analyses of the situation - which are likely to cost anyone who listens to them quite a bit of money or put their finances into jeopardy.

Quite.

It was something posted on here that helped bring me to my senses.

A poster, that I have unfortunately forgotten the name of, wrote how silly we would feel if our neighbour had the exact same car as us but we paid 3 times more than they did for it.

We wouldn't do it, would we?