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how many REALLY think there'll be a crash rather than a stabilisation ?
Comments
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What street?dannyboycey wrote: »Sounds like a random welsh bloke they pulled off the street. :rotfl:
I'd like to pull a random welsh bloke off the street.0 -
IO isn't the terrible thing everyone makes out. In theory you could do a lot better with a IO than a repayment. Assuming you have a suitable investment.
Say you borrow 200k. With repayment, you have to pay back exactly that. i.e. a lot! With IO, you're hoping your investment does better than your mortgage rate and with reinvesting/compounding, you might pay back 100k which grows to the 200k (or beyond if you're brave!).0 -
albacore1854 wrote: »Thanks Phlash.
use loans/shift cards about etc
All of these type of debts cost more than any mortgage they can't already afford.0 -
Although, interest would reduce over time on a repayment and not an IO. Not sure how to calculate this.
I still think IO and some early investing are the way forward.0 -
PasturesNew wrote: »All of these type of debts cost more than any mortgage they can't already afford.
Hmmn tough call.
Lose the roof over your head or deceive a credit card company or two for a while.
I know what I'd do.Most people overlook opportunity as it comes dressed in overalls, and looks like hard work.0 -
You mean like an endowment policy?;)IO isn't the terrible thing everyone makes out. In theory you could do a lot better with a IO than a repayment. Assuming you have a suitable investment.
Say you borrow 200k. With repayment, you have to pay back exactly that. i.e. a lot! With IO, you're hoping your investment does better than your mortgage rate and with reinvesting/compounding, you might pay back 100k which grows to the 200k (or beyond if you're brave!)."Mrs. Pench, you've won the car contest, would you like a triumph spitfire or 3000 in cash?" He smiled.
Mrs. Pench took the money. "What will you do with it all? Not that it's any of my business," he giggled.
"I think I'll become an alcoholic," said Betty.0 -
Yes, exactly. Execpt without the poor value insurance added on.
The problem with endowments wasn't the strategy, it was the optimistic returns projections and mis-selling, along with a poor performing stock market.
I'm happy to take the gamble to potentially save myself thousands. I accept the risks, but am progressing Ok so far.0 -
Where's Jamesd when I need him? lol0
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Yes, exactly. Execpt without the poor value insurance added on.
The problem with endowments wasn't the strategy, it was the optimistic returns projections and mis-selling, along with a poor performing stock market.
I'm happy to take the gamble to potentially save myself thousands. I accept the risks, but am progressing Ok so far.
You have made your decision, you obviously have a plan & you know you are gambling. You are not the problem here; the problem is the person who has stretched to the limit to buy a (newbuild) flat or house on interest only for fear that they will never get on the ladder; people with no repayment vehicle, who are hoping that their salary or inflation will deal with the problem."Mrs. Pench, you've won the car contest, would you like a triumph spitfire or 3000 in cash?" He smiled.
Mrs. Pench took the money. "What will you do with it all? Not that it's any of my business," he giggled.
"I think I'll become an alcoholic," said Betty.0 -
My my what a long long thread.
I'm working a night shift tomorrow night to help cover the strikes at a Mail Centre. For this reason I decided I would stay up late tonight, wake up late tomorrow and then hopefully stay awake throughout the night shift. My original plan was to watch a movie to keep me up, but I found this thread instead.
I have read about 95% of the posts on this thread and learnt several things
1)There WILL be a price crash in the property market.
2)There WILL NOT be a price crash in the property market.
3)Some people are Bears
4)Some people are Bulls
Thank you very much for the entertainment and company.
Good night all.0
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