Debate House Prices


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Has the last Bear turned?

245

Comments

  • Pimperne1
    Pimperne1 Posts: 2,177 Forumite
    Sibley wrote: »
    RB is full of BS.

    House prices are not down 20% in his area at all. He's paid out 8 years of rent and probably bought a house for 5-10% off 2007 price.

    He must have been paying around £600 or more per month for a place.

    Roughly £55,000 in rent but probably more.

    His house he reckons he bought was around £200,000 so lets say he got it 10% cheaper than it was. That makes him £35,000 out of pocket with a full term mortgage in front of him.

    If he'd bought 8 years ago he would have been on low rate now and been able to have cleared lots of years off.

    Yeah HPC website works well doesn't it? :rotfl:

    After 27k posts that's got to be a killer.
  • Pimperne1
    Pimperne1 Posts: 2,177 Forumite
    Jonathan, we know your the idiot, you've been predicting a House price crash for the last ten years and where has that got you? I expect you've been getting grief from your misses, wanting to know when she can have a place to call her own? The reason she can't 'nest' is because you must have hit your head when you fell out of the tree! :rotfl:

    Has Jonathan Davis chipped in on this somewhere. If so could you provide a linky (don't like Jonathan to get away without someone pointing out how successful he has been in predicting the housing market).
  • System
    System Posts: 178,224 Community Admin
    10,000 Posts Photogenic Name Dropper
    Pimperne1 wrote: »
    Has Jonathan Davis chipped in on this somewhere. If so could you provide a linky (don't like Jonathan to get away without someone pointing out how successful he has been in predicting the housing market).

    That was posted by "Killer Bunny". I don't know what the link is with JD.
    This is a system account and does not represent a real person. To contact the Forum Team email forumteam@moneysavingexpert.com
  • mystic_trev
    mystic_trev Posts: 5,430 Forumite
    Part of the Furniture 1,000 Posts Name Dropper Combo Breaker
    Joeskeppi wrote: »
    That was posted by "Killer Bunny". I don't know what the link is with JD.


    Killer Bunny is Jonathan Davis. I believe he had to change his name from Financial Planner a couple of years ago, after having a spat with someone on the Forum. I think they accused him of giving Financial advice :rotfl:Yeah right, from someone who's been consistantly wrong on House prices for the last ten years!
  • wotsthat
    wotsthat Posts: 11,325 Forumite
    I must admit to admiring someone who has enough courage in their convictions to STR.

    However, I suspect a lack of basic maths, an obsessive focus on house prices (rather than the cost of housing), calculations based on monthly mortgage interest at month one only has led many down the STR path without realising the massive gamble they are taking. The longer the gamble doesn't work the bigger the HPC required.

    Hanging around with other like minded individuals on a website where true debate seems to be stifled can't help the decision making process either.
  • System
    System Posts: 178,224 Community Admin
    10,000 Posts Photogenic Name Dropper
    Agreed, even if you broke even over that time you've still added 8 years to your lifetime housing costs in this example.
    This is a system account and does not represent a real person. To contact the Forum Team email forumteam@moneysavingexpert.com
  • wotsthat
    wotsthat Posts: 11,325 Forumite
    Joeskeppi wrote: »
    Agreed, even if you broke even over that time you've still added 8 years to your lifetime housing costs in this example.

    The OP was lucky to have a Mrs. Bear who, no doubt, has been 'questioning' his logic.

    The time is important. It truly does fly - my son is doing his GCSE's now and joining the army. That 16 years has just disappeared; I just don't know where it's gone.

    Life's too short for taking decisions like this especially with eyes closed to the risks.
  • chucky
    chucky Posts: 15,170 Forumite
    10,000 Posts Combo Breaker
    i feel sorry who followed and believed the nonsense they post.

    is Mr Wu or whatever his name is still calling the bull trap every week?
  • Conrad
    Conrad Posts: 33,137 Forumite
    10,000 Posts Combo Breaker
    On HPC I had many a heated debate with RB. One question I repeatedly asked him was whether he would remeber his rants against 'greedy owners' when one day he becomes a seller. I used to carp that he'll extract every penny when it comes to himself selling and all dewy eyed notions of 'poor struggliung ftb' v's 'greedy stubborn sellers' will be long forgotton.

    Next time you hear a renter bleating about greedy sellers, just remind them that one day they will be that greedy VI baby boomer seller.
  • Conrad
    Conrad Posts: 33,137 Forumite
    10,000 Posts Combo Breaker
    The other irony here is that nus bulls used to repeat that buying a home was about so much more than money as a home of your own conferred many lifestyle benefits such as stability of tenure. RB and co used to tell me I was a sock pupet for such 'drivel' and that renting was a far superior liefstyle with lines such as "I get to live in a house I could never afford to buy - the landlord is subsidising my lifestyle".

    They all come round in the end. The message is - stop framing your life in terms of penny pinching and potential price saving, money should not be your God.
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