“I’ve already made 12k in 2 years on my house, in 20 years time I’m going to be rich”

hyposmurf

Heres some other reasons Id not be swayed by the idea of renting:
do you have to share your sitting room etc with other tenants?
can you make structural changes to the property youre renting?When renting your restricted as to what you can do to the property.
your home is less secure if youre sharing it with other tenants.
owning your own property (other than the police/customise & excise) you are the only one with the power to allow anyone to enter the house to inspect it.
ive heard endless accounts of landlord/tenant problems.such as landlords entering the property without notice.
when renting can you choose your own energy suppliers or does the landlord choose these?If the landlord chooses these,its possible you might not be getting the best tariffs.

djohn2002uk

meanmachine wrote:

Sentiment is the same now as it was two years ago I'd imagine.

Those who have just bought think they're brave. They think the pro-crashers are doom mongerers and weirdos.

Pretty acurate sentiment I'd have thought.:T

meanmachine_2

But those pointing to a long overdue correction in the stock market were painted as doom mongerers. In fact, like all Cassandras they're vilified until the inevitable happens, then they're treated as saints and soothsayers.

In fact, neither extreme is true. They're just sensible and doing the maths.

Sadly, the housing market is not sensible, which is why the "doom mongers" have got it wrong - so far...

mystic_trev

meanmachine wrote:

Sadly, the housing market is not sensible, which is why the "doom mongers" have got it wrong - so far...

You could be right sooner than you think with rising Interest rates and the high level of debt. This article in todays Guardian made me shudder.

Debt problem soars as 1m face the threat of bankruptcy.

http://business.guardian.co.uk/story/0,,1780123,00.html

nelly_2

Couple of quotes from the article.

Citizens Advice said recently that rising debt is its number one problem.

The company had recently seen someone who had run up debts of £327,000 on 64 credit cards.

See, I cant help but say f*** em, these muppets are living well beyond their means.

I cant have any sympathy for them, same with people stretching themselves massively just to buy a house.

Its allright having a !!!!!! a year or 2 financially to save for a special occasion or something, but to be on your !!!!!! for the next 25 years thats just stupid.

The more I read about peoples debt the more morbidly facinated I get.

Crokeria

Those of you who talk about overpriced houses and an overheated market probably live in the South East or London. I live in the Midlands and have a 3 bed semi I bought for £97k in 2004 and is now worth £115k...still affordable for most and I'm only 2 hours drive from London, ie not on the moon like my southern pals think! Its frustrating to me WHY prices here in South Staffs seem artificially LOW and rise so slowly....I left Surrey to come here and even bought with a 105% mortgage..a small gamble that has paid off as my house is now worth more...so when you talk of an overheated market I think it very much depends where you are....:o

nelly_2

Crokeria wrote:

Those of you who talk about overpriced houses and an overheated market probably live in the South East or London. I live in the Midlands and have a 3 bed semi I bought for £97k in 2004 and is now worth £115k...still affordable for most and I'm only 2 hours drive from London, ie not on the moon like my southern pals think! Its frustrating to me WHY prices here in South Staffs seem artificially LOW and rise so slowly....I left Surrey to come here and even bought with a 105% mortgage..a small gamble that has paid off as my house is now worth more...so when you talk of an overheated market I think it very much depends where you are....:o

Wouldnt you rather have paid 7 grand for it?

Crokeria

Sorry, not with you?

poopscoop

he saying he can get a house for £7k? let us know where

hyposmurf

Its a shame people get so far into debt and alot of the time I think well your own silly fault stop moaning.To me claiming bankrupcty is made all too easy.Why should I have to keep paying out for someone who repeatedly gets themself into debt.

Those of you who talk about overpriced houses and an overheated market probably live in the South East or London.

Thats where Im located and yes many first time buyers have found themself priced out of the market.Say for instance you can get a mortgage for £120000 as a single person to afford a average flat of £150,000 your looking at saving £30,000 deposit plus your fees on top.So by the time you have saved £30,000 and your fees costs the price of an average flat in your area has rocketed further out of your reach.
Its not a pretty picture for alot of fisrt time buyers.But with anything over time things will improve.