Nationwide UP 0.6% MoM & UP 0.9% YoY

RenovationMan

Graham_Devon wrote: »

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.

Once again you're missing the point (whether deliberate or not, who knows with Mr Muddle). Dervprof specifically targetted people who are enjoying low mortgage rates, he never mentioned people who had paid off their mortgages, or pensioners or anyone else.

FWIW I agree with you when you say that DervProf's an idiot and his example is bogus, however I'd never say it like that, because I'm not that rude.

Graham_Devon

RenovationMan wrote: »

FWIW I agree with you when you say that DervProf's an idiot and his example is bogus

If theres one thing we can't take away from your RM, it's your insistance to make things up to suit. It's becoming endearing. I feel like giving you a hug. Awww.

System

JonnyBravo wrote: »

It was reasonable and clear but I'm not sure what you're suggesting people do.

-sigh- too late JB, too late

I'm already paying over the odds for MII (Meteor Impact Insurance) and now I have this to worry about as well.

RenovationMan

Joeskeppi wrote: »

I'm already paying over the odds for MII (Meteor Impact Insurance) and now I have this to worry about as well.

You can't be too careful in your financial planning. You may have MII, Zombie Hoarde protection, anti nuclear meldown assurance, alien abduction/invasion insurance and be feeling pretty chilled until DervProf notices that you haven't got Pandemic protection and throws all your planning into question. :rotfl::rotfl::rotfl::rotfl:

IveSeenTheLight

RenovationMan wrote: »

You can't be too careful in your financial planning. You may have MII, Zombie Hoarde protection, anti nuclear meldown assurance, alien abduction/invasion insurance and be feeling pretty chilled until DervProf notices that you haven't got Pandemic protection and throws all your planning into question. :rotfl::rotfl::rotfl::rotfl:

What about countering these loses by investing in tin hats, bunkers and baked beans

It looks like there may be a market for these.

RenovationMan

IveSeenTheLight wrote: »

What about countering these loses by investing in tin hats, bunkers and baked beans

It looks like there may be a market for these.

Perhaps that's where Derv has his money invested, hence his postulating these absurd eventualities. He's ramping tin hats and bunkers because he has a heavy position in these commodities. :rotfl::rotfl:

chucknorris

Joeskeppi wrote: »

I'm already paying over the odds for MII (Meteor Impact Insurance) and now I have this to worry about as well.

I've got a great policy for that, if a comet crashes into the earth and destroys it completely I'll get a huge payout (wait a moment...........!)

StevieJ

Graham_Devon wrote: »

I said it makes little difference to affordability. You'd do well to stop twisting what I said to make some sort of silly little forum politics point.

You've argued this very point yourself in the past. If prices of food, clothes, transport etc are going up at the same pace as wages, the house is no more affordable, as living costs eat up the increase in wages.

Do you disagree with that?

No I haven't.
Yes I do.

wotsthat

DervProf wrote: »

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 ?

No it's not far fetched but the again there are lots of things that may or may not happen.

Here's what I do. I base all my future plans on today's taxes and try and leave a safety margin to hedge against unplanned situations. Do I work in a 25% property tax that might be introduced in 2037 into my plans? No of course not neither do I base calculations on window taxes, the MOT for the hoverboard and teleportation costs.

The safety margin is needed because governments have to tax people with money and it's very likely they'll continue to invent dastardly ways to extract our wealth from us whether it's via pension reform, taxes on savings and property etc.

RenovationMan

Graham_Devon wrote: »

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

LOL, I almost missed this. Can you show how this works mathematically via an example for both food and mortgage costs? I'm especially interested in seeing how 1% can equal 50% (or more).

Incidently, in your rush to aid a fellow bear, you didn't notice that it was DervProf who introduced the comparison of mortgage costs vs general inflation (food/fuel/etc). :cool: