Patience is a virtue

Graham_Devon

DpchMd wrote: »

I'd rather be happy in my bubble, than be a depressed lunatic who's spent the last 7 years of his life spreading doom on an internet forum.

Cheer up Graham, it'll be alright.

I see. So looking at the very likely prospect of moving, taking your current job prospects and security into account, negative equity etc when planning your biggest purchase ever, is doom mongering?

See your particular bubble is triple glazed. You must be proud!

Conrad

i8change wrote: »

I feel sorry for my childrens generation, unless thing change.

A recent book called Futurebabble shows how each generation echo's your exact sentiment here.

It showed examples from 1950 / 55 / 60 and so on where each older generation feared for thier childrens futures as everything was going downhill.

Each generation passionately believes 'it really is true this time' and generations will still be repeating this in a millions years.

People now look back on the 70's with fondness, but you can find thousands of news articles from time declaring the edge of the abyss was surely just around the bend.

Back in the 70's we had N Ireland, Opec crisis, constant predictions of a world wide famine, peak oil (Jimmy Carter made this his manin concern in the state of the nation speeches 77 - 79), nuclear armageddon, strikes, 3 day weeks, power cuts, uncollected rubbish, punk rock anarchy, football hooligans, Union strangleholds, Vietnam war, Japan and Honkgong taking all our manaufactuirng away, British Leyland, Facist dictators, Nixon affair ETC ETC ETC.

I promise you 30 years from now, 40 year olds will look back with fondness on thier youth from 2007 - 2017 "life was somehow better back tghen despite the troubles":rotfl:

DpchMd

Graham_Devon wrote: »

I see. So looking at the very likely prospect of moving, taking your current job prospects and security into account, negative equity etc when planning your biggest purchase ever, is doom mongering?

See your particular bubble is triple glazed. You must be proud!

Yes Graham, that's exactly what i just said. You should be a politician.

Keep on trawling the web for depressing news stories. Must be a fulfilling experience for you.

Conrad

Graham_Devon wrote: »

I see. So looking at the very likely prospect of moving, taking your current job prospects and security into account, negative equity etc when planning your biggest purchase ever, is doom mongering?

See your particular bubble is triple glazed. You must be proud!

His judgment is based on the concrete fact that 99% of folk do not loose thier homes. The fact that people have always bought houses in dire times when we faced war with the Soviets, OPEC cirisis, Irish bombs, mass strikes, powercuts, high inflation etc - there's nearly allways reasons not to buy.

Despite all the gloom and apparant danger most people plod on and most build an ok life and dont loose everything. Funny that.

Graham_Devon

Conrad wrote: »

His judgment is based on the concrete fact that 99% of folk do not loose thier homes. The fact that people have always bought houses in dire times when we faced war with the Soviets, OPEC cirisis, Irish bombs, mass strikes, powercuts, high inflation etc - there's nearly allways reasons not to buy.

Despite all the gloom and apparant danger most people plod on and most build an ok life and dont loose everything. Funny that.

Not loosing your home has nothing to do with the rent vs mortgage calculation. Infact, I didn't even include loosing the home myself. It's only yourself that has now decied to pop that one into the pot.

People either want to talk about one particular issue, or they don't. Which is it?

If you buy a house, and find yoruself selling and buying another 5 years later, just the costs of buying and selling over that 5 year period is enough to pay a years rent or more. That's my point. A point that people are desperately trying to ignore.

RenovationMan

Graham_Devon wrote: »

I've never disagreed with that, infact I haven't even commented on it, let alone twisted it.

Anyway, a fix is only inflation proof for the duration of the fix, which in general, isn't the length of the mortgage.

Getting back to the discussion...

Are you saying that the disadvantages of the points you raised outweigh the advantages put forward by Chucky?

Percy1983

I don't think the patience is so much the house purchase but most other things in life.

With that we do have the xfactor generation now, patience just doesn't fit with them.

Graham_Devon

RenovationMan wrote: »

Getting back to the discussion...

Are you saying that the disadvantages of the points you raised outweigh the advantages put forward by Chucky?

You only have to go back to the post I stated them on to find out.

It all depends on circumstances, and all of us have individual circumstances.

Was it best for the women at work to buy a house with her new partner 4 years ago, spend 25k improving it via a personal loan, only to get divorced, sell the house for slightly less than they bought it for, and take the loan with her?

Or would she have been better off renting?

It's neither or. She could have had a succesful marriage. HPI could have paid off her personal loan upon selling. The improvements could have added value to the house.

At the end of the day, circumstances dictacted how much better off she would have been either on a mortgage or buying. Mathmatics dictate she would have been better off renting.

But for the girl who works with her, lived in her home for donkeys years, married to someone she met in secondary school, never needed or wanted to move....buying has worked out fantastic.

As I said, trying to dumb the argument down to what chucky did is absolutely pointless.

If you refuse to accept or allow for circumstances in mathmatical findings, then you can show whatever you want to show.

Mr._Pricklepants

Conrad wrote: »

Despite all the gloom and apparant danger most people plod on and most build an ok life and dont loose everything. Funny that.

Absolutely.

Honestly, when buying, we never took into account any possible future negative equity nor rate increases.

We bought 1st time because we newlyweds needed a roof over our head.

We bought 2nd time when missus was pregnant with our 3rd one.

We just had to. We didn't have the luxury of waiting for the perfect moment. That's life.

If you have to spend your life basing decisions on terrible things that 'might' happen, you better stay indoors 24/7.

DpchMd

Graham_Devon wrote: »

You only have to go back to the post I stated them on to find out.

It all depends on circumstances, and all of us have individual circumstances.

Was it best for the women at work to buy a house with her new partner 4 years ago, spend 25k improving it via a personal loan, only to get divorced, sell the house for slightly less than they bought it for, and take the loan with her?

Or would she have been better off renting?

It's neither or. She could have had a succesful marriage. HPI could have paid off her personal loan upon selling. The improvements could have added value to the house.

At the end of the day, circumstances dictacted how much better off she would have been either on a mortgage or buying. Mathmatics dictate she would have been better off renting.

But for the girl who works with her, lived in her home for donkeys years, married to someone she met in secondary school, never needed or wanted to move....buying has worked out fantastic.

As I said, trying to dumb the argument down to what chucky did is absolutely pointless.

If you refuse to accept or allow for circumstances in mathmatical findings, then you can show whatever you want to show.

That's a sensible post and I don't think I can disagree with anything.

However, the example you gave is an extreme example of stupidity. I could sit here and think of several more extreme examples where renting is better than buying.

The point is you don't need to think up any extreme examples to show why buying is better than renting, because for the vast majority of cirumstances it is better by default. I'd be surprised if even you, king of doom; depression and death, could disagree with that.