Own a house - you're working for nothing.

tesuhoha

Owning a house is not all about money. Its about having a home and security. Its about staying put and living in your home. A rental property will always be someone else's house.

PhylPho

gingerdad wrote: »

to be honest most people i know there house is there home, if it goes up or down it really doesnt matter, if they want to sell the others will have gone up or down also. it only really effects people moving into or out of an area where prices are different. so if mine drops by 50% i really couldn't give a toss

Harriet Harman is concerned about your siggy.

foreversummer

Makes no difference to me. If I wake up tomorrow morning and find house prices have dropped 75% I've still got a whole house not quarter of one!

Foreversummer

ess0two

RenovationMan wrote: »

It seemed to me that this particular thread had nothing to do with money saving for people who are thinking of buying houses and everything to do with trying to goad people who have already bought houses.

End of story, really.

Wasting your time Reno man,Des cartes is another jackanory.

Running_Horse

My mortgage is less than 40% the cost of a similar rental.

That's over £600 per month in my pocket.

And I can redecorate any colour I like, own any pets I like, or just generally do what I like in my house.

And in 20 years or less I will own it outright.

Hemichromis

des_cartes wrote: »

It's the bricks and mortar cash machine in reverse. If you own a house in 2010, it is losing value faster than you can earn money.

true but it doesn't matter as they are all (with some exceptions) moving up and down at the same rate
so say i bought my house for 250000 but am saving to buy a 300000 i would need 50000 if in the time it takes to save this house prices have dropped 20% than my house isworth only 200000. does this mean i need 100000 now? no because the other house is now worth just 240000. I've saved 10000!!

House prices jsut don't matter to owners assuming that you always want to live in a house which in my view is a constant.

Buyers though need house prices to go down so they can afford them.

people who have just bought need prices to stay the same or go up so they do not fallinto negative equity.


best for the public would be a very slow increase in the region of 1%

as wages go up it should become easier to buy.

Callie22

tesuhoha wrote: »

Owning a house is not all about money. Its about having a home and security. Its about staying put and living in your home. A rental property will always be someone else's house.

Totally agree. We rent and I hate it - it's not my 'home', it's just a house that we're allowed to live in for the time being. Quite a scary feeling to think that there's a good chance I'll probably never have a 'home' of my own.

G_e_o_r_g_e_2

des_cartes wrote: »

It's the bricks and mortar cash machine in reverse. If you own a house in 2010, it is losing value faster than you can earn money.

I agree. It is like renting at the moment.

G e o r g e

G_e_o_r_g_e_2

foreversummer wrote: »

Makes no difference to me. If I wake up tomorrow morning and find house prices have dropped 75% I've still got a whole house not quarter of one!

Foreversummer

Whereas wannabe buyers would struggle because most could not afford to sell and housebuilders wouldn't build.

G e o r g e

nearlyrich

This confuses me, it will take a lot for my home to decrease in value to the level at which we bought it in 1992, it would have to lose about £300k so as we no longer have a mortgage I struggle to see how I am working for nothing please explain?