Rent money is dead money

twadge_face

This is a ridiculously bitter thread to start. Borne of insecurity perhaps?

The starter of this thread is either a troll or a moron.

There is no simple answer to rent/buy conundrum. Everyone just does the best to suit themselves.

It is a pitiful shame some idiots boast about their so-called winnings, but I suspect the self-same folk do not big up their losses... True wisdom lies in making the best of life for yourself and your family and it is not all black and white.

Perhaps there will always be idiots. Perhaps this is truer than "rent is dead money" or "house prices always go up". :cool:

Rent pays for a service. Simples.

Mortgage interest is dead money. Just as dead as rent. There are a LOT of outstanding interest only mortgages out there, as we know.

In London, rent has been consistently cheaper than mortgage interest for years. Combine that with price drops, which are coming on nicely, and we're cheerfully quids in.

I do understand there are some quite embittered non-renters on this forum who are paying over the odds for the privilege of being stuck where they live whilst still having £xxx,xxx capital to repay at the end of the [STRIKE]punishment[/STRIKE] term.

PLUS, anyone who got a mortgage in the last couple of years at less than a 20% deposit is in a risky position - WHICH IS WHY THE BANKS HAVE BEEN SO RETICENT IN LENDING, Y'SEE!! - and within the year likely to be wishing they had only been renting and spending so-called "dead money" as opposed to facing the drops in prices that occurring now... and THUS, the erosion of their precious EQUITY.

If I were a landlord or even a homeowner, I'd be examining get-out strategies now.

Each to their own though innit.

P.S. Congrats to the OP. Got a response didn't it? What a c*nt.

[Deleted User]

Caroline has size 4 feet. David has size 9. One shoe fits all? No. To say renting is dead money full stop is ridiculous. There are countless factors involved.

System

!!!!!!_face wrote: »

This is a ridiculously bitter thread to start. Borne of insecurity perhaps?

The starter of this thread is either a troll or a moron.

There is no simple answer to rent/buy conundrum. Everyone just does the best to suit themselves.

Ever so slight sense of making a !!!! out of yourself by then going and posting a duplicate troll thread.

Cleaver

tod123 wrote: »

Cleaver , how much money have you put in the drains in rent friend?

Well, we've owned since late-2003, so a monthly rental payment was swapped for a monthly mortgage payment. From 1999 to 2003 it suited me / us to rent, from 2003 onwards it suited us to own. Both have their pros and cons and both worked at the time.

I've just written about this on the other equally juvenile thread on the same subject, so you can read it there.

I guess if you'd like an answer to your rather strange question, I probably spent about £15,000 on rent between 1999 and 2003. I was getting a product I was very happy with though and had no desire to buy, so never thought of it as money down the drain. I lived in four different rental properties in four years too, so buying would have been impossible even if I'd wanted to buy (which I didn't).

Cleaver

!!!!!!_face wrote: »

This is a ridiculously bitter thread to start. Borne of insecurity perhaps?

Mortgage interest is dead money. Just as dead as rent. There are a LOT of outstanding interest only mortgages out there, as we know.

P.S. Congrats to the OP. Got a response didn't it? What a c*nt.

You do realise that by making an indentical sweeping statement about mortgage interest being 'dead money' and starting a thread on that as well that it makes you look just as much as a simpleton as the OP?

Cleaver

Turnbull2000 wrote: »

Renters are failures. Nothing but serfs who work to fund the lifestyle of their landlord.

I'd say that's a pretty common view.

I'd say it's a common view on here.

It's a view I have never, ever, ever even once heard in the real world. Whether I'm in the office or hanging out with friends or family, I've never heard a single person judge another person for whether they chose to rent or buy. Real people don't do that, do they? I thought it was just the odd people on this forum.

doire_2

tod123 wrote: »

Heed my warning, thank me later.

tod123

rent up 9 months in a row.

tod123

everyone get on the housing ladder!

twadge_face

Cleaver wrote: »

You do realise that by making an indentical sweeping statement about mortgage interest being 'dead money' and starting a thread on that as well that it makes you look just as much as a simpleton as the OP?

I know, I know. I was a bit emotional. Bit irrational.

What's done is done now.

Can't have any shame on t'Internet. I'm trying to learn to be less reticent, y'see. It's what my psychiatrist recommended. And these pills, man, they do weird things to my head.