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'Want it now brigade'

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Comments

  • plane_boy2000
    plane_boy2000 Posts: 1,482 Forumite
    Jim_B wrote:
    Much like the interest payments on a mortgage.

    Not really - at least while you are paying the interest you own an asset that may go up in value - no chance of that with rent
  • PoorDave
    PoorDave Posts: 952 Forumite
    500 Posts
    plane_boy2000 wrote:
    Not really - at least while you are paying the interest you own an asset that may go up in value - no chance of that with rent

    Agreed, although the value may go down instead...

    You're paying the interest in order to have your own place to do what you like with, and for the chance of it being worth more in the future.
    Annual income twenty pounds, annual expenditure nineteen nineteen and six, result happiness. Annual income twenty pounds, annual expenditure twenty pounds ought and six, result misery
  • wibble68_2
    wibble68_2 Posts: 176 Forumite
    plane_boy2000 wrote:
    Not really - at least while you are paying the interest you own an asset that may go up in value - no chance of that with rent

    Is this the very same asset that the government will take from you to pay for your fees when you go in to a nursing home?

    While the people who rented will get it for nothing.
  • PoorDave
    PoorDave Posts: 952 Forumite
    500 Posts
    wibble68 wrote:
    Is this the very same asset that the government will take from you to pay for your fees when you go in to a nursing home?

    While the people who rented will get it for nothing.

    I heard they were planning to sell off your organs too in a compulsory/stealth tax fashion, in order to pay for the care you would then need.
    Annual income twenty pounds, annual expenditure nineteen nineteen and six, result happiness. Annual income twenty pounds, annual expenditure twenty pounds ought and six, result misery
  • PoorDave
    PoorDave Posts: 952 Forumite
    500 Posts
    vishpatel wrote:
    Yes, I want to buy a reasonably priced home now. But I'm well aware prices are out of my reach, so I'm prepared to wait. In fact, pretty much all of my friends feel the same. I don't see any of them fretting about wanting to buy a property immediately without working for a good number of years and saving a deposit.

    IMO the 'want it now' brigade are the ones who are spoilt by their parents. They don't bother seriously saving for a deposit themselves because they know their parents will 'cough up'.

    Didn't we do this entire thread the other week vishpatel? ;)

    Oh well, here goes...
    Annual income twenty pounds, annual expenditure nineteen nineteen and six, result happiness. Annual income twenty pounds, annual expenditure twenty pounds ought and six, result misery
  • david29dpo
    david29dpo Posts: 3,986 Forumite
    Part of the Furniture 1,000 Posts Name Dropper Combo Breaker
    there must be nothing on the tele again, the claws are out!
  • PoorDave
    PoorDave Posts: 952 Forumite
    500 Posts
    david29dpo wrote:
    there must be nothing on the tele again, the claws are out!

    I'm not saying vishpatel doesn't have a point, but if so it's the same one from the other week, yet here here i still am being part of the "experience"
    Annual income twenty pounds, annual expenditure nineteen nineteen and six, result happiness. Annual income twenty pounds, annual expenditure twenty pounds ought and six, result misery
  • PhilDS
    PhilDS Posts: 92 Forumite
    We can all wait for a recession then we can afford a house. Unless, during that recession, all of those who waited for the recession lose their jobs. What a good idea...lets all hope for a recession! :mad:
  • Jim_B_3
    Jim_B_3 Posts: 404 Forumite
    PoorDave wrote:
    Agreed, although the value may go down instead...

    You're paying the interest in order to have your own place to do what you like with, and for the chance of it being worth more in the future.

    I disagree. I say you're paying interest because you couldn't afford to buy a house, so you had to get someone to loan you the money.

    Plane Boy; an asset is something that puts money into your pocket. Unless you're renting one out, a house is not an assets but a liability.
  • Mikeyorks
    Mikeyorks Posts: 10,380 Forumite
    Part of the Furniture 10,000 Posts Combo Breaker
    Jim_B wrote:
    Unless you're renting one out, a house is not an assets but a liability.

    The Inheritance Tax legislation would disagree with you.
    If you want to test the depth of the water .........don't use both feet !
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