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Debate House Prices
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BTL's and renters
Comments
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Graham_Devon wrote: »The suggestion that paying money in rent is wasting money is poor, .
People rent for a variety of reasons, and in many of those cases renting makes sense for the individual at the time.
But the suggestion that renting for anything other than the very short term can be a financially prudent alternative to buying is poor, very poor, and to be expected only from a select number of individuals.;)“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 -
Yes, akin to telling someone they should buy a BMW rather than "waste" money using public transport.
For many people in rural areas, it actually would be cheaper to buy a BMW rather than use public transport.:D“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 -
However. If you can afford to buy utilising a mortgage that is well within your comfort zone, then unless rents are exceedingly cheap it is always better to buy. For someone in this position there is a lot to be said for the phrase 'renting is dead money'.
Absolute knackers is it always best to buy.
Referring back to Purch's example of the car vs public transport....is it ALWAYS best to buy the car? Even in London where you will have to pay extortionate parking charges and congestion charges? Of course not.
Same as it's not always best to buy. Depends on so many factors. Absolutely no point in buying if you are not settled enough to do so, or envisage moving in the next 2-3 years.
All these arguments are purely bile against HPC and anyone who suggests otherwise.
They are lazy, immature and downright idiotic sometimes.
All some of you can see is a house and pound signs. Everything else that life is made up of totally passes you by.
Most of your arguments consist of arguing against a couple of people who are not even reading your argument. How many times do we have to keep pretending that normal folk all go around with hundreds of thousands of pounds just sloshing around in their bank accounts, while they play a game of Jenga with the housing market?
Sure, there are cases throughout history where, with hindsight, you can state people were silly to hold off buying any item, whether thats a house, car, gold, nickel, garlic or the potato's in Asda which are no longer on BOGOF. Trouble is, you rely on this hindsight for every single one of your bitter, bitter arguments with a few individuals....who are not even reading what you are still whinging on about.
Paying rent is paying for a service. Same as paying British Gas for your gas to heat your home is paying for a service. From your posts, you should be suggesting we are all stupid for not owning a stake in the company.
Buying vs renting is about FAR more than just pound signs and working out, like a total idiot, just how many pounds and pence you may be better off over x amount of years....when you can't possibly know what's going to happen.0 -
Graham_Devon wrote: »Absolute knackers is it always best to buy.
Referring back to Purch's example of the car vs public transport....is it ALWAYS best to buy the car? Even in London where you will have to pay extortionate parking charges and congestion charges? Of course not.
Same as it's not always best to buy. Depends on so many factors. Absolutely no point in buying if you are not settled enough to do so, or envisage moving in the next 2-3 years.
All these arguments are purely bile against HPC and anyone who suggests otherwise.
They are lazy, immature and downright idiotic sometimes.
All some of you can see is a house and pound signs. Everything else that life is made up of totally passes you by.
Most of your arguments consist of arguing against a couple of people who are not even reading your argument. How many times do we have to keep pretending that normal folk all go around with hundreds of thousands of pounds just sloshing around in their bank accounts, while they play a game of Jenga with the housing market?
Sure, there are cases throughout history where, with hindsight, you can state people were silly to hold off buying any item, whether thats a house, car, gold, nickel, garlic or the potato's in Asda which are no longer on BOGOF. Trouble is, you rely on this hindsight for every single one of your bitter, bitter arguments with a few individuals....who are not even reading what you are still whinging on about.
Paying rent is paying for a service. Same as paying British Gas for your gas to heat your home is paying for a service. From your posts, you should be suggesting we are all stupid for not owning a stake in the company.
Buying vs renting is about FAR more than just pound signs and working out, like a total idiot, just how many pounds and pence you may be better off over x amount of years....when you can't possibly know what's going to happen.
Can I perhaps surmise from your ranting that you have been in a position to buy for the last few years but have not, instead waiting for the inevitable house price crash?
Of course there are factors in favour of renting vs buying. It's just that 'for the majority of people in a position to buy comfortably within their means' it is almost a no-brainer to buy.
I hope you agree the use of the word majority now qualifies what I have stated. Sometimes you need to look at an argument from outwith your own personal circumstance.0 -
Graham_Devon wrote: »Buying vs renting is about FAR more than just pound signs and working out, like a total idiot, just how many pounds and pence you may be better off over x amount of years....when you can't possibly know what's going to happen.
Well then Graham you should probably pop over to all the other house price websites and post that for the folks who have been doing just that with their hopes for a crash.
“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 -
Can I perhaps surmise from your ranting that you have been in a position to buy for the last few years but have not, instead waiting for the inevitable house price crash?
Nah.
Graham took out a mortgage for half a house some time ago. He rents the other half from his housing association.
So best (or worst) of both worlds for him.“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 -
Can I perhaps surmise from your ranting that you have been in a position to buy for the last few years but have not, instead waiting for the inevitable house price crash?
You can surmise all you like.
Just shows you are unable to discuss without your own predujices taking over....which is exactly what I was saying.
Well done.0 -
HAMISH_MCTAVISH wrote: »People rent for a variety of reasons, and in many of those cases renting makes sense for the individual at the time.
But the suggestion that renting for anything other than the very short term can be a financially prudent alternative to buying is poor, very poor, and to be expected only from a select number of individuals.;)
We should take Europe's lead where it comes to renting, they know how to do it properly.
In fact many people from the continent, think we're a bit crazy over here - obssessing over shoe boxes, priced at hundreds of thousands of pounds.0 -
Graham_Devon wrote: »You can surmise all you like.
Just shows you are unable to discuss without your own predujices taking over....which is exactly what I was saying.
Well done.
I see you are only quoting part of what I said. Perhaps you do not wish to comment on the rest of my post as you cannot argue against it??0 -
If prices fall by much more than 5%, many of the BTL's will be forced out of the market as their leverage dries up.
A drop of "much more than 5%" would not see me forced out of the market.
If prices fall, I'd be repared to wait out, especially as the RY I receive is sufficient
Indeed, rents are more likely to cause BTL's to sell up if the fell sufficiently
I'm in the process of concluding on a BTL, so I've done the figures recently.
My RY is 6.49% of the purchase price.
The profit is 12.05% on my deposit after the mortgage interest is deducted.
The rent could reduce by 50% and still the costs would be covered.
I too cannot see with the household growth and lack of additional supply that the likelyhood of significant rent reductions are on the cards.:wall:
What we've got here is....... failure to communicate.
Some men you just can't reach.
:wall:0
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