Nationwide UP 0.6% MoM & UP 0.9% YoY

wotsthat

DervProf wrote: »

25 tears is a long time, and the tax system will almost certainly different to how it is today. Not saying you will be taxed on any profit you may make, but it isn't impossible that a tax could be put on profit from property.

Maybe there'll be a window tax in 25 years time - should I brick up some windows now to hedge against it?

RenovationMan

wotsthat wrote: »

Maybe there'll be a window tax in 25 years time - should I brick up some windows now to hedge against it?

DervProf comes up with these laughable scenarios when he has nothing logical to offer but is still desperate to have a dig. The last time I mentioned my downsizing plan he had a scenario that involved a divorce, meteor striking the earth and the ascendancy of the Zombie hoardes. :rotfl:

Back in the real world, when planning your finances you can only really base your planning on existing/proposed legislation. If you start worrying about a million things that might happen you'll end up frozen into inaction like a bunny in a car's headlights. This might explain why DervProf has lived in the same FTB house he purchased in the 1990s and has savings and investments that have zero returns. Proof again that being overly cautious can be as damaging to your finances as being overly adventurours.

DervProf

wotsthat wrote: »

Maybe there'll be a window tax in 25 years time - should I brick up some windows now to hedge against it?

I wouldn't advise that.

I think my point was reasonable and clear. I was simply saying that RM's assumption that his profit from property may not be tax free. I wasn't saying that it was likely to happen, or that his plans were flawed. However, the possibility of a property tax in the future isn't that far fetched, is it ?

DervProf

RenovationMan wrote: »

DervProf comes up with these laughable scenarios when he has nothing logical to offer but is still desperate to have a dig. The last time I mentioned my downsizing plan he had a scenario that involved a divorce, meteor striking the earth and the ascendancy of the Zombie hoardes. :rotfl:

Back in the real world, when planning your finances you can only really base your planning on existing/proposed legislation. If you start worrying about a million things that might happen you'll end up frozen into inaction like a bunny in a car's headlights. This might explain why DervProf has lived in the same FTB house he purchased in the 1990s and has savings and investments that have zero returns. Proof again that being overly cautious can be as damaging to your finances as being overly adventurours.

And there we have it.

I throw in a perfectly reasonable (and friendly) comment, and you do what you accuse others of doing.

While you were typing your little rant, I was typing my previous reply, which again, I think most people will find reasonable. I'm sorry if I offended you by suggesting something that doesn't agree with your opinion, but I thought we might actually be able to have a reasonable conversation, even if we have different things to say.

DervProf

BTW. My savings and investments are not making zero returns at the moment. They are not all in a savings account paying 1%.

Edit : None of my savings are in a 1% account !

Oh, and is living in the same FTB house something to be ashamed of ? I am very happy here, thank you.

Graham_Devon

DervProf wrote: »

I have heard of "economies of scale", but I don't usually associate the term with an individual's debt.

You might experience a £208 per month increase in your mortgage, but I suspect that your mortgage is a little larger than what the majority of people have.

And isn't it a little simplistic to compare a 1% increase in food prices with a 1% increase in mortgage rates ?

It's a silly comparison anyway.

A 1% rise in base rates is not the same as a 1% rise in food costs.

A 1% rise in base rates could equal a 50% (or more) rise in mortgage costs. A 1% rise in food costs equals a 1% rise in food costs.

Amatuers

IveSeenTheLight

Graham_Devon wrote: »

Amatuers

Classic

Graham_Devon

IveSeenTheLight wrote: »

Classic

Thanks.

The point is, that not everyone is over indebted.

For pensioners, renters, those reliant on benefits, anyone who is on a fix, anyone who has paid off their house, a rise in base rates won't effect their outgoings.

But a 1% rise in food costs effects everyone. A 1% rise isn't very much. But have a look at petrol costs, heating costs, food costs. Combine them all. It starts to weight down on peoples finances. I am under no illusion this is seen as better by the government.

I'm actually, for my sins, reading Tony Blair's biography at the moment...not sure I will ever finish it, the man waffles on forever... but it goes into detail about how vested interests rule policy above everything else. Makes a lot of sense when it comes to housing and how things are panning out.

RenovationMan

RenovationMan wrote: »

DervProf comes up with these laughable scenarios when he has nothing logical to offer but is still desperate to have a dig. The last time I mentioned my downsizing plan he had a scenario that involved a divorce, meteor striking the earth and the ascendancy of the Zombie hoardes. :rotfl:

An example of DervProf's financial planning:



:rotfl::rotfl::rotfl:

JonnyBravo

DervProf wrote: »

I wouldn't advise that.

I think my point was reasonable and clear. I was simply saying that RM's assumption that his profit from property may not be tax free. I wasn't saying that it was likely to happen, or that his plans were flawed. However, the possibility of a property tax in the future isn't that far fetched, is it ?

It was reasonable and clear but I'm not sure what you're suggesting people do.
As wotsthat/RM have pointed out, you really can't plan for unknown legislation.
As for, is it far fetched? Well yes I think it probably is a little far fetched, but I agree it's not an impossibility.

BTW yes I agree RM was mocking but we all "mock" occasionally and his comments wouldnt have been too untoward except of course your history. Perhaps he should have been more mindful but hey dont let this spiral again.

-sigh- too late JB, too late