Some of you are vultures

Broken_hearted

mbga9pgf wrote: »

You are forgetting house prices are dropping 4K per month at the mo. You would have to be renting a pretty big house to be losing money in this market.

Say 10 times in mirror "RENT IS NOT DEAD MONEY"

So in two years I might go into negative equity still have my home, not be facing any future rent increases and not needing to sell.
Alternitively I could be sat paying rent with it going up every year never ending payments.

Broken_hearted

dazco wrote: »

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?

If you wanted the car you would.

dazco

Broken_hearted wrote: »

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.

I think we are at cross wires.

My suggestion was;

House was worth £200,000 (for example), sell the house and pay the mortgage off then rent a house.

Property devalues, say a lowly 15%, so you buy back in at £170,000.

£30,000 saved in one year, minus the difference between the mortgage payment and the rent payment, probably about £1200.

Easy:D

So when will I be on the property ladder?

the_ash_and_the_oak

I don't drive but aren't most cars also bought on finance schemes which are effectively not unsimilar?

dazco

Broken_hearted wrote: »

If you wanted the car you would.

No I wouldn't.

I would like an Aston Martin but I have not bought one.

Are you trolling?

ShelleyC_2

dazco wrote: »

I would like an Aston Martin but I have not bought one.

I would love one - do you think I might get one cheap in the credit crunch

dazco

ShelleyC wrote: »

I would love one - do you think I might get one cheap in the credit crunch

Yes you will, a lot cheaper than they were.:T

dazco

Broken_hearted wrote: »

No if you look at the celebs in our culture they are frequently ripped off buying things for much wore than they are worth. You could have two identical cars one sells for £400 the other sells for £30,000, its got nothing to do with the value of the car more the perceved value of the person who is buying it.

Ah. Yes, you are trolling.

Naughty naughty:eek:

dopester

pickledpink wrote: »

Some people will pay £20M for a painting, or £10k for a handbag...........because in their opinion it's worth it. Some people will spend a few thousand pound on a bottle of wine.................because in their opinion it's worth it.

In a deep recession or depression, I'd much rather be in a market that sought to sell or broker expensive art, or luxury designer handbags at a £10K price, than having a pound-shop (or 50p shop) selling paints and brushes, or having a high-street shop trying to sell £25 handbags.

dazco

Broken_hearted wrote: »

reported...

I knew it!!!!!!:rotfl::rotfl::rotfl::rotfl::rotfl::rotfl:


Nobody could really be that thick.