Why I Love House Prices Crashing

ad9898_3

b0rker wrote: »

Will you consider yourself a debt junkie when/if you ever get round to purchasing a home?

I doubt you will ever buy a home mind you. I am sure you will still be on these boards in 2014 predicting massive house value decreases meanwhile paying someone elses mortgage for them for the next decade.

When you say 'paying someone else's mortgage', you mean it a way of looking down your nose at 'peasants' who you think can't afford a house, may I say renting isn't what you would like to think it is for lots of people, it gives flexibility to move, upsize, downsize, emigrate etc... at the drop of a hat if circumstances change. Many people who rent aren't the down trodden penniless tramps you seem to think they are.

Just as many Landlords aren't wealthy landowners, many are sweating over an over-leveraged burden that's causing them to sleep 2 hours per night.

Dan:_4

nearlynew wrote: »

I own 2 thank you very much.

Both mortgage-free.

T1T

People who own more then 1 home are greedy scum low-lifes and the cause of the HPI boom*


*according to some on here anyway

nearlynew

chucky wrote: »

wasn't it 3?

It was.

Until I sold one earlier this year.

shakerbaby

Dan: wrote: »

People who own more then 1 home are greedy scum low-lifes and the cause of the HPI boom*


*according to some on here anyway

Why would someone require more than 1 home?

Ron2256

ad9898 wrote: »

When you say 'paying someone else's mortgage', you mean it a way of looking down your nose at 'peasants' who you think can't afford a house, may I say renting isn't what you would like to think it is for lots of people, it gives flexibility to move, upsize, downsize, emigrate etc... at the drop of a hat if circumstances change. Many people who rent aren't the down trodden penniless tramps you seem to think they are.

Just as many Landlords aren't wealthy landowners, many are sweating over an over-leveraged burden that's causing them to sleep 2 hours per night.

Peasants? I thought people referred to us lot as "young professionals". There is millions of us apparently and we are all looking to rent a "luxury apartement" (a box).

b0rker

ad9898 wrote: »

When you say 'paying someone else's mortgage', you mean it a way of looking down your nose at 'peasants' who you think can't afford a house

When I use the term 'paying someone else's mortgage' I do not think of it as a derogatory term. I am saying it because I feel that renting is essentially paying someone else's mortgage as opposed to paying your own. At what point does waiting for the market to fall further become less wise than buying with 20% drops already? As you have pointed out there are a number of very good reasons for renting. The best of which I can think of at the moment is waiting for the 'definite' bottom of the market. If/when that will occur if it has not already occurred is, I suppose, the game that all the renting bears with a decent deposit are currently playing.

There is definately some serial renters on this board though. A good number of which I suspect will never have the stomach to buy. In any market. !!!!!! scared of loosing a few grand if prices fluctuate post-purchase.

shakerbaby

b0rker wrote: »

When I use the term 'paying someone else's mortgage' I do not think of it as a derogatory term. I am saying it because I feel that renting is essentially paying someone else's mortgage as opposed to paying your own. At what point does waiting for the market to fall further become less wise than buying with 20% drops already? As you have pointed out there are a number of very good reasons for renting. The best of which I can think of at the moment is waiting for the 'definite' bottom of the market. If/when that will occur if it has not already occurred is, I suppose, the game that all the renting bears with a decent deposit are currently playing.

There is definately some serial renters on this board though. A good number of which I suspect will never have the stomach to buy. In any market. !!!!!! scared of loosing a few grand if prices fluctuate post-purchase.

Time to buy is when no one will touch property with a barge pole.

b0rker

nearlynew wrote: »

I own 2 thank you very much.

Both mortgage-free.

T1T

If you are going to come across bearish on these boards the very least you can do is not own a house. Owning 2 homes and not gloating about the fact in each and every post that you make is just reckless and in this case has ended up making me look like a !!!!!!.

I shall be having words with Martin about you.

Thrugelmir

b0rker wrote: »

There is definately some serial renters on this board though. A good number of which I suspect will never have the stomach to buy. In any market. !!!!!! scared of loosing a few grand if prices fluctuate post-purchase.

Buying doesn't suit everyone's circumstances. Moving house frequently is very expensive.

At the moment renting for many makes financial sense. As is cheaper than ownership.

fawd1

Dan: wrote: »

I dont buy this "2 incomes are required for an average home" arguement. One salary probarly could service the mortgage (it is likley to be very tight in the early years but this is nothing new) but families want much more then just a mortgage these days such as new cars, playstations, flash furinture, holidays abroad, home improvements etc - this is why 2 incomes are required.

not so I'm afraid, my brother found this when buying his first home to include a wife and child. He earns 50k a year and getting a 4 times mortgage meant that he could buy a home of approx 230k with his deposit. well, that might buy you something elsewhere, but in London, that will (not as bad now, but you get my drift) get you next to nothing, at least in a decent area. Even with his wifes salary, they only managed to get a 2 bed apartment in Putney and she earns 40k herself.