MW: IS buying cheaper than renting?

heathcote123

Pimperne1 wrote: »

The only way out of this for Geneer will be if in a couple of years time he comes on with a picture of a house (and a loaf of bread) and says "Suckers, I bought back in Dec 2005 and have been playing you all along"!

Otherwise I don't see any way he could end this extravaganza with a title other than "loser".

Well I agree thats the likely outcome - but it would be frustrating to see that happen, what, after all is the point of these kind of forums? He's not stupid and he's had a s*itload of good advise & education.

It would be a shame to see someone !!!! up their financial future for the sake of a stupid arguament that they can never back down from losing - against people they have never even met!. People make bad calls, it happens, god knows I've made a few - but you can't stick by them for all eternity in the face of utter failure without compounding the problem - life is finite.

Anyone see that story about the guy in the nursing home that one 350k or so in the 60's on the pools? apparently it was 2.5 mil or so in todays money (he blew it all). You can't fight inflation long term, anyone that thinks they can is deluding themselves. And it's certainly not short-term any more.

geneer

heathcote123 wrote: »

Stepped out? Of what exactly - you never started.

Never started because I stepped out. I know you guys struggle with imagery/metaphors etc but do try harder.

heathcote123 wrote: »

Come on, you've been on these forums for 6 years, moaning, !!!!!ing, denying prices are rising etc, arguing with the stats.

Alternatively (and in reality) I’ve spent it gleefully pulling apart spurious arguments and taking the mick where its deserved.

heathcote123 wrote: »

What I'm suggesting is that you look at the problem from a personal viewpoint - not a global one, not the rights & wrongs of LL's, inflation, capitalism etc and figure out how to get what you want.

Because your strategy right now clearly is not working. I know you'll deny that, but you know it really. You are walking in quicksand and heading to that cut off point where no mortgage lender is going to want to know.

Does rather suppose that you have an kind of understanding as to what my “strategy” is champ.

Years of embittered obsessive attacks and meaningless assertions don’t forge you a reality I’m afraid.

And I bet you wonder why none of your efforts ever hit home.

heathcote123 wrote: »

Solve it. It's all a big game & you have the brains to do it if you weren't so stubborn & obsessed with past decisions being 'right'.

So lighten up, play the game - don't moan about the rules - they're not going to change just for you.

PS !!!!ing, b-it-ch-ing

That’s nice Fubra. But as I’ve stated, your assertion that I’ve spent my time moaning and complaining is completely fallacious.

Lets ponder the reasons behind that. Do you think its anything to do with the fact that of those 6 years you and your pals keep banging on about, 4 of them have been post meltdown?

Yeah. Its gutting that I was proven right 4 years ago :rotfl:.
(or at least infinitely more right that you guys)

geneer

Pimperne1 wrote: »

The only way out of this for Geneer will be if in a couple of years time he comes on with a picture of a house (and a loaf of bread) and says "Suckers, I bought back in Dec 2005 and have been playing you all along"!

Otherwise I don't see any way he could end this extravaganza with a title other than "loser".

Could be worse. I could have bought 2 flats weeks before peak.

Or at least 1/2 a house (right Heathcote?). :rotfl:

geneer

heathcote123 wrote: »

Well I agree thats the likely outcome - but it would be frustrating to see that happen, what, after all is the point of these kind of forums? He's not stupid and he's had a s*itload of good advise & education.

It would be a shame to see someone !!!! up their financial future for the sake of a stupid arguament that they can never back down from losing - against people they have never even met!. People make bad calls, it happens, god knows I've made a few - but you can't stick by them for all eternity in the face of utter failure without compounding the problem - life is finite.

Anyone see that story about the guy in the nursing home that one 350k or so in the 60's on the pools? apparently it was 2.5 mil or so in todays money (he blew it all). You can't fight inflation long term, anyone that thinks they can is deluding themselves. And it's certainly not short-term any more.

Oh dear. Thats quite a fantasy world you live in there.

Speaking of bad calls, I do recall that when pressed about why you didn't buy a house until 2007, we eventually uncovered the fact that you were a big old bear from at least 2003 onwards.

Although as it happens, you came out with a long list of real world concerns as to why you didn't before.

Isn't it interesting that those real world concerns have never played a part of your own studious and longterm analysis of my personal position.

If only you had waited until after the crash Fubs.
You might have got a whole house instead of half of one.
You've only got yourself to blame of course.
You've had loads of good advise and education.
That after all is the point of these forums.

ruggedtoast

Threads like this really drive home how pointless internet discussion forums are, dont they?

InkZ

The interest part of my Mortgage is £842 and I have a nice 3 bed detached in a nice area. A two bed flat would cost £100 less in a worse area and I think over 25 years+ you can't go too wrong with bricks and mortar, it's a pretty good way of hedging your money.

You do need to understand that in the short term, value will rise and fall as is the same with any investment. If I was looking to buy somewhere short term. ie 2-5 years, I probably wouldn't bother at the moment, there is defiantly a risk that you could lose money and you won't pay much off. I'd rather stick my excess cash in a cash ISA for security. I'm planning to stay in my house for 15 years+ if not longer, so unless my circumstances drastically change, I think it's a pretty safe bet, especially with an ageing population and immigration driving up demand for housing.

The above is from a purely financial point of view, and doesn't take in to account all the things like not having to ask permission to fart in your own hallway when renting and the risk of your landlord not caring when you have no hot water.

Is my post too sensible for this thread?

Pimperne1

InkZ wrote: »

The interest part of my Mortgage is £842 and I have a nice 3 bed detached in a nice area. A two bed flat would cost £100 less in a worse area and I think over 25 years+ you can't go too wrong with bricks and mortar, it's a pretty good way of hedging your money.

You do need to understand that in the short term, value will rise and fall as is the same with any investment. If I was looking to buy somewhere short term. ie 2-5 years, I probably wouldn't bother at the moment, there is defiantly a risk that you could lose money and you won't pay much off. I'd rather stick my excess cash in a cash ISA for security. I'm planning to stay in my house for 15 years+ if not longer, so unless my circumstances drastically change, I think it's a pretty safe bet, especially with an ageing population and immigration driving up demand for housing.

The above is from a purely financial point of view, and doesn't take in to account all the things like not having to ask permission to fart in your own hallway when renting and the risk of your landlord not caring when you have no hot water.

Is my post too sensible for this thread?

Excellent post from my point of view (yes, do forgive us teasing Geneer but we've grown rather fond of it. Geneer, for his part, likes to go back to the forum I used to frequent (until banned ) to tell people how badly I am doing. Hence I am never off of the front page over there)!

wotsthat

InkZ wrote: »

Is my post too sensible for this thread?

Yes. Firstly you've taken the time to calculate, based on your own circumstances, whether it's cheaper to rent or buy.

Secondly, house prices are going to crash and you should be waiting until they do. If you can put your life on hold, pay someone else's mortgage in the meantime, and forget about the non-financial benefits of buying all the better.

RenovationMan

I don't understand why you guys care so much about each other? Are the home owners so insecure in their decision to buy that they need to justify it over multiple threads and multiple boards. Are the crashers so insecure in their belief in a crash that they have to push the message over multiple threads and multiple boards?

Why do certain people expend so much time and effort to find out the reasons why geneer has not decided to buy? Do you believe that it will be a thrilling story of political intrigue, double dealing and financial wrangling spanning several continents? I'm sorry to have to report that I doubt it very much and that the reason for non-purchase will be a dull one that has been and will be played out millions of times by millions of people across the land over many past and future decades.

If you have bought a house; be happy, enjoy it, pay off the mortgage and support others who are trying to do the same.

If you have decided to rent in the hope of a substantial crash. Good luck to you. Enjoy the ride, save the deposit and support those who are trying to do the same.

wotsthat

Bloody hell renoman.

You'll have us all singing kumbaya or give peace a chance soon!