Savings Accounts Obsolete-- Now "Losing Accounts"

HAMISH_MCTAVISH

Wookster wrote: »

Do not wait.

Go and buy a house now.

Any house.

Even in skegness.

It will go up in value and you'll be rich beyond your wildest dreams.

Ain't it so hamish?

Actually, I couldn't care less if you never buy.

In fact, I encourage all you pessimists to NOT BUY.....

Hold off as long as you can. Wait for prices to rise past previous peak, and set new highs.

And even then, DON'T BUY....

Wait even longer, wait til prices double again, wait for the next crash in another 15 years, but whatever you do, DON'T BUY!!!!

And then, when the average house price is over £500,000, you can sit around in your rented flat, surrounded by immigrants living two to a room, and look back at how cheap prices were today.

And then you'll realise, far too late, that you've been a complete and utter idiot, and you've royally screwed yourself and your family over with your pessimism and fear.

The hollow shell of your savings account will have been decimated by inflation, the investments that worked will have been the ones you were too cautious to get involved in, and your only solace will be collecting the meagre pension your overly conservative outlook restricted you to.

Then you can spend your twilight years destitute, miserable, huddled over a candle for warmth and wondering how you'll pay the rent.

And on your deathbed, when your broke and resentful offspring are feeding you the porridge which is all they can afford, you can glimpse the picture of the Scotsman on the package, and then it will hit you.....


A sudden, sickening, realisation that brings back the memory of this post and these four little words.......
























Hamish McTavish Was Right.

Wookster

What do you see Hamish?

Graham_Devon

HAMISH_MCTAVISH wrote: »

And then, when the average house price is over £500,000, you can sit around in your rented flat, surrounded by immigrants living two to a room, and look back at how cheap prices were today.

And then you'll realise, far too late, that you've been a complete and utter idiot, and you've royally screwed yourself and your family over with your pessimism and fear.

Hang on. You talk about screwing your family over, but also talk about sitting in a flat surrounded by immigrants as some sort of "ha ha, you missed the boat".

This is, of course, exactly what any offspring would be doing because they also missed the boat, due to not being born quick enough.

Oh hold on....I remember, I've got to die for them to be able to get a house.

HAMISH_MCTAVISH

Wookster wrote: »

What do you see Hamish?

Your credibility index falling off a cliff.

Graham_Devon

Something rattling your cage Hamish?

neverdespairguy

HAMISH_MCTAVISH wrote: »

Your credibility index falling off a cliff.

Silly bull.

DervProf

Mmmmm, I wonder what potential FTBers make of this.

Saving for a deposit ? Well, those savings of yours are losing value against CPI, and according to the property bulls, you`re losing even more value against that first home you are saving for. Still, it just means you`ll end up with a slightly larger mortgage than you anticipated. Not to worry though, you`ll have plenty of time to pay it off, because you won`t be retiring until about 70ish.

Of course, there is a bit of good news. You might be thinking that you won`t have any spare money to save after you pay your mortgage and bills (those water rates and food bills are going to be that bit more, now the BoE aren`t too bothered by keeping inflation under control), but as you can see, saving is a waste of money anyway.

So chin up, keep working and saving for that deposit, then one day you`ll find yourself on the ladder* to wealth and happiness.


* Please note that we can accept no responsibility for any injury or loss caused by climbing the ladder.

neverdespairguy

Silly Derv. When house prices crash, those with savings will be best placed to purchase. CPI doesn't come into it.

Graham_Devon

I didn't know you spoke neverdespairguy. Welcome

DervProf

neverdespairguy wrote: »

Silly Derv. When house prices crash, those with savings will be best placed to purchase. CPI doesn't come into it.

This "house prices crash" you speak of ? I`ve been told that`s something that used to happen years ago, in the bad old days. Things are different now. The BoE has got one of those new printers (ink is a bit pricey, mind), and the banks are much more friendly these days. Those people on the Halifax ads seem really nice, they`ll surely keep lending out lots of money.

No, I`m not the silly one. Not me.