Just for a bit of fun

scousethife

kirsty and phil present
head torch, head torch, head torch

grand head torches

Paddy2eyes

What happens when the power of the batteries in your head torch starts to run out and the banks won't supply any more charge?

seraphina

It does't matter what my head torch costs next year, I can afford the repayments now...

barrooo

Get a massive loan and invest in some more head torches then rent them out. What could go wrong the head torch market will be bouyant for years.

BlondeHeadOn

Pobby wrote: »

I often think back to the early part of the decade when houses really took off. I and a few others couldn`t really make it out. It wasn`t as though we were all enjoying much by way of pay increases. Often the subject came up about why houses were going up so much. What about if interest rates rose? What would happen if you had got a 5 plus multiple loan and your circumstances changed? How was all this sustainable? Remember I was not aware that people were borrowing just to fund a life style.

Some of the replies/ theories cracked me up then and still do. The obvious was " House prices always go up" but my fave was "They won`t let it happen". Never was explained to me who "they" were but there ya go.

Do you have any favorites?

My favoruite quote from someone buying a vastly overpriced house was:

"My father always told me: 'When it comes to buying a house, you must always bite off more that you think you can chew - and then chew like mad!'"

(For some reason this sounds even funnier if you say it in a Yorkshire accent!)

:rotfl: :rotfl: :rotfl: :rotfl:

Pobby

Head torches under the hammer!

Pobby

treliac wrote: »

No more boom and bust

:rolleyes:

http://www.channel4.com/news/articles/politics/domestic_politics/factcheck+no+more+boom+and+bust/2564157:rolleyes:

silvercar

fc123 wrote: »

The worst for me was 'Debt IS Wealth' or Debt equals Wealth

Went to dinner with fairly well off aquaintances/sort of friends and the whole evening was his theory of Debt equals Wealth....and you get someone else to service it (tenants) whilst you sit and wait for the wealth to come to you.

He was inspired by his mate in the 8 bed mock tudor nearby (who owned a load of property) and reckoned, with this super new theory, he would get rich too.

I think this was back in early 07. To prove the secret of wealth, they mortgaged up and bought 500k of BTL (2 houses I believe) yet the family home was about 900k then without a big mortgage.
Their business is building related (mainly domestic) too.

I remember writing about it in 07 and squatnow saying...'They'll go bust when the crash comes''.

I don't know how it's panned out but they aren't bust.

Classic top of the bubble action.

This recession is worse than the last, it is deeper and will be longer and effect more people.

But interest rates are lower than they have ever been and lower than they have been in any previous recession and likely to be low for quite a long term.

That will be the saving grace for the over stretched. Even if they have MEWed to extreme, their repayments are probably at the same level they would have been if interest rates had been higher and their borrowing at sensible levels.

My worry is the other side of the recession, these MEWers will be saying that they survived the last recession they can survive anything.

silvercar

Aberdeen is really expensive.

Really cheap areas are cheap for a reason. If there are fine homes in decent areas that are really cheap, it is probably because they are too near the not nice areas with not nice homes. Particularly so in large cities.

Pobby

Here`s another little snippet
http://uk.youtube.com/watch?v=aCQREoAmsu0&feature=related