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The world’s biggest property bear may be buying a house
MrRee_2
Posts: 2,389 Forumite
The final, final nail in the HPC Coffin ...... even the most hardened is admitting that NOW is the time to buy.
Some notable quotes:-
"I’m sick of renting. So what should I do?"
"I’ve spoken to the bloke in the bank.
I’ve spoken to a couple of mortgage brokers.
It seems that, yes, banks are being more careful with what they lend and who they lend it to.
But, if you’ve got a bit of equity and some earnings, I’m surprised how much you can still borrow.
And I’m amazed at how little it costs to do so.
I can get a five-year fixed rate for something like 3.5% and a variable rate in the 2.6% area.
In other words, it would cost as little as £2,600 a year to borrow £100,000;
£13,000 to borrow half a million;
or £26,000 to borrow a million.
Investors looking around for value often cite Japanese stocks or Berlin real estate, but if you want something that’s really cheap – it’s money.
Money is probably as cheap as it’s ever been.
I'm not bullish on UK housing, but I'm sick of being bearish.
And, with money this cheap, there are some compelling reasons to at least consider getting hold of some (if you can) and swapping it for a house"
Full article here:-
http://www.moneyweek.com/investments/property/uk/money-morning-dominic-frisby-buying-property-20600
Some notable quotes:-
"I’m sick of renting. So what should I do?"
"I’ve spoken to the bloke in the bank.
I’ve spoken to a couple of mortgage brokers.
It seems that, yes, banks are being more careful with what they lend and who they lend it to.
But, if you’ve got a bit of equity and some earnings, I’m surprised how much you can still borrow.
And I’m amazed at how little it costs to do so.
I can get a five-year fixed rate for something like 3.5% and a variable rate in the 2.6% area.
In other words, it would cost as little as £2,600 a year to borrow £100,000;
£13,000 to borrow half a million;
or £26,000 to borrow a million.
Investors looking around for value often cite Japanese stocks or Berlin real estate, but if you want something that’s really cheap – it’s money.
Money is probably as cheap as it’s ever been.
I'm not bullish on UK housing, but I'm sick of being bearish.
And, with money this cheap, there are some compelling reasons to at least consider getting hold of some (if you can) and swapping it for a house"
Full article here:-
http://www.moneyweek.com/investments/property/uk/money-morning-dominic-frisby-buying-property-20600
Bringing Happiness where there is Gloom!
0
Comments
-
Classic MSW smokescreen.
"I'm buying, but I will still advise you not to, otherwise it'd look like I've been talking !!!!! for years. No you just carry on waiting while I buy my big ol' house. That's definitely best, I'm going to lose so much money LOL honest."This is a system account and does not represent a real person. To contact the Forum Team email forumteam@moneysavingexpert.com0 -
He might buy near Merrym.
Mmm.
Merrym.
:happyhear0 -
3rd day running that HPC has had the final nail banged in to it's coffin. I look forward to tommorow when it's all over once again.0
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I meant HPC - House Price Crash ....... the actual 'event' NOT the Losers Forum of the same name!!Bringing Happiness where there is Gloom!0
-
Classic MSW smokescreen.
"I'm buying, but I will still advise you not to, otherwise it'd look like I've been talking !!!!! for years. No you just carry on waiting while I buy my big ol' house. That's definitely best, I'm going to lose so much money LOL honest."
Except the article is not written by MSW."The problem with quotes on the internet is that you never know whether they are genuine or not" -
Albert Einstein0 -
Graham_Devon wrote: »3rd day running that HPC has had the final nail banged in to it's coffin. I look forward to tommorow when it's all over once again.
Forget property investment, buy shares in nail manufacturers.
Like you, I suspect this won't be the final time we hear from Mr(s)SibleyRee about the final nail.30 Year Challenge : To be 30 years older. Equity : Don't know, don't care much. Savings : That's asking for ridicule.0 -
I dont do multi ID's for the millionth time.We love Sarah O Grady0
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'Just think for a moment what a prospect that is. A single market without barriers visible or invisible giving you direct and unhindered access to the purchasing power of over 300 million of the worlds wealthiest and most prosperous people' Margaret Thatcher0
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Ironic that someone who writes for Moneyweed should say:I hate the way that people have got rich by sitting in a house and watching the price go up, rather than doing anything productive.0
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