House prices surge......

nembot

MrRee wrote: »

Renting is for mugs - we all know that ... those who cannot afford to buy kid themselves that they are saving loads of money, waiting, sitting, hoping, that prices will fall to their level.

To be fair, I rent a fantastic place, enjoy a far better quality of life for far less money than even an interest only mortgage on the same property - don't think I'm alone here either.

I think this makes me a little savvy to be fair, but you calling every renter a mug, makes you look like a right knob!

shortchanged_2

MrRee wrote: »

I'm very old and bought/sold more properties than most on here - I also have no vested interest. I am wanting to buy (so, want falling prices) and I own (so, don't mind rising prices).

Thats laughable. You seem to have made a reappearance on here over the last couple of months after an absence of about 5 years and all you now do is talk up property prices and make out everything is just fine and dandy with the economy.

MrRee_2

Going4TheDream wrote: »

I think you are being very pedantic. In your original post you suggested saving a £1k a month would take 165 months to save for the average house, fair comment

Yet now you are saying saving £250 a month would take 100 months to save for a £25k house. Why would anyone drop their amount of savings just because the house was cheaper with the slight rises we are seeing now it makes no sense?

Saving the same £1k a month would only take 25 months.

So putting it into perspective just over two years of inconvenience all round and he owns a house. Not bad being mortgage free at a young age, and to use your stereotyping probably a great deal more attractive to the ladies????

Well, you see, it's like this ...... when I wrote £1,000 a month savings I assumed that was easily achievable, I have since been told that maybe it is too high an amount to save on average.

Therefore, I amended it to £250 a month - as everyone can save that small amount ... and, maybe, if houses in the area Jimmy31 lives are £25,000 then the wages will be smaller than the average £60,000 a year down here in the South?

And yes, with his very own £25,000 house, women will be falling over themselves. I shall think of that while swimming in my swimming pool ....

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JOKE! :rotfl:

MrRee_2

andybenw wrote: »

Surely it's to be commended to be saving hard so as to buy quickly and if it can be done, to buy for cash or at least with the smallest mortgage possible

Absolutely commenable, indeed.

The point I am making is that if saving the cash needed to buy without a Mortgage - or a small Mortgage - takes you many years down the line ... then you have missed the cheap house prices now.

If you are saving say, £500 a month, and house prices are increasing £600 a month on the place you want ..... you are better off buying NOW!

As, generally, you are paying rent, somewhere in any case - AND an extra £100 a month worse off.

MrRee_2

nembot wrote: »

To be fair, I rent a fantastic place, enjoy a far better quality of life for far less money than even an interest only mortgage on the same property - don't think I'm alone here either.

I think this makes me a little savvy to be fair, but you calling every renter a mug, makes you look like a right knob!

Ok, let me put it this way.

I live in a fantastic place - but, and this is the part you have failed to cotton onto - I pay NOTHING in Rent or Mortgage payments ... as I own it outright.

You will be paying rent next month, and the month after, and again a month later ....... for the rest of your life.

If your place is fantastic, then it must cost around £3,000 a month (as that is what my place would rent for). That means that, after just 1 year, I am £36,000 better off than a renter like yourself - even taking out £1,000 for maintenance STILL gives me £35,000 in my pocket rather than yours.

After 10 years I am, at least, £350,000 better off than you - yes, that's my Yatch you see sailing around the sea's and my Aston Martin you see parked on my driveway!

That makes me, as you will agree, a far more savvy Money Saving Expert than you.

It is simple to understand, surely? Now who looks the knob?

Mallotum_X

shortchanged wrote: »

Thats laughable. You seem to have made a reappearance on here over the last couple of months after an absence of about 5 years and all you now do is talk up property prices and make out everything is just fine and dandy with the economy.

I very much doubt he had been away, just posting under various other log-ins more like.

MrRee_2

shortchanged wrote: »

Thats laughable. You seem to have made a reappearance on here over the last couple of months after an absence of about 5 years and all you now do is talk up property prices and make out everything is just fine and dandy with the economy.

Ha Ha Ha .... how do you know when I appeared or re-appeared or how many posts were posted before a date or after?

I have been lurking for a while, waiting for a time where I can assist people, when the markets get so obvious to me that I need to pass on that advice.

As I say - I own - AND I want to buy ...... if house prices rise I do well, if they fall I do well (as I buy).

I have no vested interest either way in essence.

I am merely reporting back how I see it from a buyers point of view - I am desperately trying to buy more property, yet - here - it is getting snapped up within hours (if priced accurately).

And that is what I am saying - in 2009, a 35% discount on asking was easy to get ..... now, you need to pay asking price! The asking prices haven't changed much, but the accepted offer value has!

Therefore there is a disguised rise in prices, if I don't alert the readers on here of that then I am not doing my duty as an honest poster on the site.

Mallotum_X

MrRee wrote: »

Ok, let me put it this way.

I live in a fantastic place - but, and this is the part you have failed to cotton onto - I pay NOTHING in Rent or Mortgage payments ... as I own it outright.

You will be paying rent next month, and the month after, and again a month later ....... for the rest of your life.

If your place is fantastic, then it must cost around £3,000 a month (as that is what my place would rent for). That means that, after just 1 year, I am £36,000 better off than a renter like yourself - even taking out £1,000 for maintenance STILL gives me £35,000 in my pocket rather than yours.

After 10 years I am, at least, £350,000 better off than you - yes, that's my Yatch you see sailing around the sea's and my Aston Martin you see parked on my driveway!

That makes me, as you will agree, a far more savvy Money Saving Expert than you.

It is simple to understand, surely? Now who looks the knob?

Sounds great, would be even more interesting if any of the above was true.

Has life given you some hard knocks, which is why you need to pretend to own a yatch (im sure if you owned a Yacht you may even be able to spell it) and an aston.

Another low achiever pretending to live it large... Get back to your ladyboys.

geneer

MrRee wrote: »

Ok, let me put it this way.

I live in a fantastic place - but, and this is the part you have failed to cotton onto - I pay NOTHING in Rent or Mortgage payments ... as I own it outright.

You will be paying rent next month, and the month after, and again a month later ....... for the rest of your life.

If your place is fantastic, then it must cost around £3,000 a month (as that is what my place would rent for). That means that, after just 1 year, I am £36,000 better off than a renter like yourself - even taking out £1,000 for maintenance STILL gives me £35,000 in my pocket rather than yours.

After 10 years I am, at least, £350,000 better off than you - yes, that's my Yatch you see sailing around the sea's and my Aston Martin you see parked on my driveway!

That makes me, as you will agree, a far more savvy Money Saving Expert than you.

It is simple to understand, surely? Now who looks the knob?

Yet another bull gets a case of the "me-me's".

Well come on mimi, do point us to the thread where everyone is suggesting that renting is better than owning a house outright?

Of course in the real world no one usually has that binary option.

And in the interim, where renting is cheaper than an I0 mortgage it is quite clear that the renter is no worse off in a stagnant, if not falling market.

MrRee_2

Mallotum_X wrote: »

I very much doubt he had been away, just posting under various other log-ins more like.

That's utter poppycock - and I would like you to prove that statement, or apologise and remove it.

A failure to do one or the other will show you to be merely a troll causing trouble!

I shall be waiting.