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Debate House Prices
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Now cheaper to buy than rent in 4 out of 5 UK citues
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No its usually cheaper to rent the same property than the monthly mortgage payments. These low interest rates lasting so long has pushed everything way out of wack from the normal.
The problem is even if monthly payments are cheaper than the rent on a similar property, not many can get the mortgage to begin with.
Most are forced to rent which is why rents are tempory so high.
When interest rates have to go back up there will be many more distressed sellers and house prices will come down to realistic levels. Then rents will also come down as interest rates keep going up.
Its just history repeating.
Yes it's always cheaper to rent, all private landlords are either eccentric millionaires or fools who never make any profits.Chuck Norris can kill two stones with one birdThe only time Chuck Norris was wrong was when he thought he had made a mistakeChuck Norris puts the "laughter" in "manslaughter".I've started running again, after several injuries had forced me to stop0 -
come on you renters, pull your fingers out you lackadaisical lot!
Rental money is dead money , make your family proud by buying a secure home!0 -
hmmmm, how is it cheaper to rent something for the rest of your life than to buy something in 25 years.
The question to really ask is, do you want to commit yourself to living in this awful place?0 -
nollag2006 wrote: »It's cheaper to buy in four out of five British cities - even in London!
http://www.dailymail.co.uk/news/article-2003566/Finding-hard-renting-house-Its-cheaper-buy-British-cities.html?ito=feeds-newsxml
So it bloody should be with base rates at 0.5%!!!0 -
So it bloody should be with base rates at 0.5%!!!
Except of course the survey assumes mortgage rates of 5%, instead of the current actual average of 3.4%....
If mortgage rates reflected the same spread above base that they did prior to the credit crunch, a full repayment mortgage would be cheaper than rent in 100% of the country.“The great enemy of the truth is very often not the lie – deliberate, contrived, and dishonest – but the myth, persistent, persuasive, and unrealistic.
Belief in myths allows the comfort of opinion without the discomfort of thought.”
-- President John F. Kennedy”0 -
when your monthly rent gets more expensive than you would have to pay on mortgage payments then there will be more of a desire to buy and an increased demand.
when monthly rents are cheaper than buying there will be less people looking to buy.
the higher these rents go the better for the housing market.0 -
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HAMISH_MCTAVISH wrote: »If mortgage rates reflected the same spread above base that they did prior to the credit crunch, a full repayment mortgage would be cheaper than rent in 100% of the country.
For what, about 12 - 24 months ? Unless the banks carry on restricting mortgage lending (which you are against).30 Year Challenge : To be 30 years older. Equity : Don't know, don't care much. Savings : That's asking for ridicule.0 -
The Which? research reveals that 95% of lenders failed to pass on cuts to standard variable rate customers in full when the Bank of England reduced interest rates.
Since then 20% of of lenders have actually put their rates up, while the Bank's rate has stayed at a rock bottom 0.5%.
the higher these rents go the better for the housing market.
i'm slightly impressed by the predictable attempts at trying to cloud the issue and the thread subject with your usual predictable babble.Just like the higher energy bills go, the better for the energy companies and the environment ?0
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