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Deja Vu?
Graham_Devon
Posts: 58,560 Forumite
Can't help feeling a sense of Deja Vu at the moment.
Oil has hit a record YOY and is now nearly sitting at $80 per barrel again.
House prices are rising at a pretty fast rate according to some indicies.
The FTSE is up up up.
DOW is up up up.
Bank bonuses are back with avengance.
Energy companies are warning of price rises this winter.
The pound isn't far off it's years high.
Gordon Brown is back to saying we will all die within 13 minutes if we don't do something about climate change.
Pensioners are all in poverty again.
Feels like 2007 all over again!!
Oil has hit a record YOY and is now nearly sitting at $80 per barrel again.
House prices are rising at a pretty fast rate according to some indicies.
The FTSE is up up up.
DOW is up up up.
Bank bonuses are back with avengance.
Energy companies are warning of price rises this winter.
The pound isn't far off it's years high.
Gordon Brown is back to saying we will all die within 13 minutes if we don't do something about climate change.
Pensioners are all in poverty again.
Feels like 2007 all over again!!
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Comments
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Graham_Devon wrote: »Can't help feeling a sense of Deja Vu at the moment.
Oil has hit a record YOY and is now nearly sitting at $80 per barrel again.
House prices are rising at a pretty fast rate according to some indicies.
The FTSE is up up up.
DOW is up up up.
Bank bonuses are back with avengance.
Energy companies are warning of price rises this winter.
The pound isn't far off it's years high.
Gordon Brown is back to saying we will all die within 13 minutes if we don't do something about climate change.
Pensioners are all in poverty again.
Feels like 2007 all over again!!
Wife kicked you out again? (joke)
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Graham_Devon wrote: »
Feels like 2007 all over again!!
Not quite.
If it was 2007, young FTB's would still be able to get on the housing ladder.;)“The great enemy of the truth is very often not the lie – deliberate, contrived, and dishonest – but the myth, persistent, persuasive, and unrealistic.
Belief in myths allows the comfort of opinion without the discomfort of thought.”
-- President John F. Kennedy”0 -
HAMISH_MCTAVISH wrote: »Not quite.
If it was 2007, young FTB's would still be able to get on the housing ladder.;)
Yes, all them cleaners claiming to earn £75,000 on their self cert forms.0 -
Yes, all them cleaners claiming to earn £75,000 on their self cert forms.
And all the young couples paying as much in rent as a mortgage, but not having a £50K deposit too.....:rolleyes:“The great enemy of the truth is very often not the lie – deliberate, contrived, and dishonest – but the myth, persistent, persuasive, and unrealistic.
Belief in myths allows the comfort of opinion without the discomfort of thought.”
-- President John F. Kennedy”0 -
I am sure I have already answered this.0
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In 2007 i had a 19k deposit with wife.. and house prices were higher than they are now. Now i have a 50k deposit and house prices are around 6-8% lower in my current area. I could buy :P...
I think your point is a bit moot.. in the 2 years it will focus people like me to save like made while paying less rent than I would in interest on a property (living in 2 bed flat as opposed to 3 bed house rent = 450)
Also Deja Vu is:
Debt going up and up and up...0 -
Deja Vu, Graham Devon talking rubbish. Again.0
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neas wrote:I think your point is a bit moot.. in the 2 years it will focus people like me to save like made while paying less rent than I would in interest on a property (living in 2 bed flat as opposed to 3 bed house rent = 450)
There is two points in response to that.
Firstly not everyone is in a position or wants to live in a smaller property while they wait for their opportune moment to buy. Fine if you are on your own or a couple, but not if you want to house a growing family in sufficient space or have elderlies to accommodate.
Second is that the mortgage rate you could get now will be higher than the deal you could have got a few years ago, even with a larger deposit. In 2006 I got a lifetime tracker at BOE base + 0.75%, so my mortgage payments have been much lower than even a smaller properties rent would have been.
While you have been saving to increase your deposit, I have been overpaying the mortgage. Whether my reduction in mortgage equals the reduction in house prices is an increasing calculation, one that will vary from area to area. You would also need to factor in that I have been living in the property I want for the last few years, something that is difficult to put a financial value to.I'm a Forum Ambassador on the housing, mortgages & student money saving boards. I volunteer to help get your forum questions answered and keep the forum running smoothly. Forum Ambassadors are not moderators and don't read every post. If you spot an illegal or inappropriate post then please report it to forumteam@moneysavingexpert.com (it's not part of my role to deal with this). Any views are mine and not the official line of MoneySavingExpert.com.0 -
My OH and I bought a house so that at sometime we would be mortgage free. We now pay no rent and live in a half decent sized house in a great area. Our idea at this point was to save, save and put enough money to retire early. Unfortunately we cannot save at the moment due to the current working climate.
All in all everyone has their own reasons for buying/not buying a house and really you have to go with what works for yourself and your family.0 -
In the words of Pete 'Yogi' Berra...
"It's Deja Vu all over again" :eek:'In nature, there are neither rewards nor punishments - there are Consequences.'0
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