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***Buy a house*** ... *** House Prices Set to rise***

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Comments

  • nelly_2
    nelly_2 Posts: 17,863 Forumite
    First Post Combo Breaker
    an unelected quango set up by the government to nothing except say things,
    or is that the government.
  • dougk wrote:
    Personally I think to spend over a couple of grand on a car is stupid and a total waste of money.... very few cars go up in value ..... usually drop rapidly so whats the sense in spending money on one... Houses well in the end they always increase in money. Crashes recover then prices rise above the crash low.
    I see house prices in 10 years time being higher than they are now... a ford focus bought now will be 800% lower in value!


    Yes true. I think it would be great if people could regard a house for what it is, a necessity and a place to live, then the current panic would be seen for what it is POINTLESS.

    You can do without almost any material goody, but you've got to have a roof over your head and somewhere to chill out after working your butt off all day.

    If your house goes up in value (as history has shown it will over time) then that is a bonus. But why not just love it and enjoy it in the meantime?
  • ivegotabig1
    ivegotabig1 Posts: 184 Forumite
    dougk wrote:
    I don't see what all the fuss is about.
    There are still many of us if we are sensible and cyut back on luxuries that can afford houses.... depends if you throw money away on rip off cars, expensive holidays and other non-essentials.
    Personally I think to spend over a couple of grand on a car is stupid and a total waste of money.... very few cars go up in value ..... usually drop rapidly so whats the sense in spending money on one... Houses well in the end they always increase in money. Crashes recover then prices rise above the crash low.
    I see house prices in 10 years time being higher than they are now... a ford focus bought now will be 800% lower in value!
    people buys cars because now they are essential to modern life, unless you can cycle to work or catch a bus, you analogy is daft...
  • dougk_2
    dougk_2 Posts: 1,403 Forumite
    I disagree - cars are not essential (I have read several posts on these forums where people have dumped there cars, managed ok and saved money....the whole purpose of this site!). The reason why people think they are essential are becuase they are convienent and allow you to be lazy.

    I have a car and I use it daily...but with a few changes I could manage without. Financially though I don't need to.

    The point is there is NO need to buy a brand new car (leave that to companies) - £1k can buy a car that is reliable and suitable for the purpose ... to get to A to B.

    Yes that is the point , you can walk, cycle or use public transport in many cases - you can do what is done traditionally.... live near to your workplace or find work near where you live.
  • kebab
    kebab Posts: 12 Forumite
    nelly wrote:
    an unelected quango set up by the government to nothing except say things,
    or is that the government.


    That's the point isn't it ?, that the Bank of England is independent and not directly elected (by definition a quango). If they were elected their decisions would be swayed by impending elections and political influences which was the case until 1997. I am unaware of anyone who thinks that we should return to the previous system.

    Assuming that is the point you are trying to make. I've read your post several times and I'm still not entirely sure.
  • nelly_2
    nelly_2 Posts: 17,863 Forumite
    First Post Combo Breaker
    No I wasnt aiming it at the bank of england it was a joke.
    Someone said who are they? I was implying the "they" actually exist.
  • kebab wrote:
    I know these forums are alll about opinions but credit-card-tart you are presentiing opinion as if it were fact.

    "..interest rate rise due around May AFTER the election." Your reference to the election suggests government inference in rate decisions where there is none, the Bank of England decide autonomously. In addition, inflation is under control (including house prices) and retail sector results are suffering. Both of these factors make a rate hike unlikely.

    Bottom line is that while demand for houses remains, there will be no major price correction or crash. The factors likely to trigger a crash, a big increase in unemployment or a SIGNIFICANT increase in interest rates are simply not there.

    Although the Bank of England set the rate "autonomously", I am afraid that behind closed doors this is NOT always true. Also the government can take back the decision at any point in the future.
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