'We've reached a tipping point' Signs of house price weakness

Jack_Johnson_the_acorn

Jason74 wrote: »

Is this what you'll look like when you finally realise that renting for 17 years in anticipation of a crash was the wrong move

He's had to move further out of Edinburgh, move into worse property and even into a HMO.... The outcome of this, his rent has increased by £100 over 17 yrs... Still can't provide any financial reasons for doing so, but claims everyone else are foolish:rotfl:

Rinoa

Blooloo wrote: »

but your life style might well have been a lot worse.

for the money I am paying in rent I have been in 4 bed housing for years...the current one (6th year) has a drive in drive out driveway, 4 very large bedrooms, each as big or bigger than many living areas modern flats have these days, garage, shed and a very nice garden.

Course I could have bought and maybe had some capital gains, but been in a tidly 3 bed semi..

Some might say I am silly at having thrown money away...others are in awe of where we live...clients come in and want to know when we are selling...

so, maybe its costing me a bit..maybe it isnt...but boy, do we live better than people paying a couple of hundred less in their wonderful newbuilds.

I guess you have to justify all those years on HPC somehow.

After making 50,000+ posts on the road to nowhere, you no doubt want to convince yourself that renting was the smart move.

chucknorris

Rinoa wrote: »

I guess you have to justify all those years on HPC somehow.

After making 50,000+ posts on the road to nowhere, you no doubt want to convince yourself that renting was the smart move.

If someone wants less in the long run but more in the early years then I can see his point, but personally I would rather follow a long term plan which gave me more later. I must admit I have lived in far less desirable property when I was in my 30's and 40's, I lived in an ex council flat, (but it was a decent one with a garden and fully refurbished by myself) even though I owned, but let out a large Victorian house in Clapham, it just seemed more sensible to let my tenants buy it for me. When I was 47 I decided that the time for a more luxurious lifestyle had arrived. Now that I have reached 56 I am looking at the next changes which will be retirement and a large extension to my house, a 22' x 14' extra (3rd) reception room and a same sized master bed/ ensuite/dressing room above.


EDIT: Is he Jonathon Davies? The guy who STR in 2003 or 2004?

ukcarper

Blooloo wrote: »

but your life style might well have been a lot worse.

for the money I am paying in rent I have been in 4 bed housing for years...the current one (6th year) has a drive in drive out driveway, 4 very large bedrooms, each as big or bigger than many living areas modern flats have these days, garage, shed and a very nice garden.

Course I could have bought and maybe had some capital gains, but been in a tidly 3 bed semi..

Some might say I am silly at having thrown money away...others are in awe of where we live...clients come in and want to know when we are selling...

so, maybe its costing me a bit..maybe it isnt...but boy, do we live better than people paying a couple of hundred less in their wonderful newbuilds.

In most area the interest on a mortgage is lower than rent and it is in later years you will notice a big difference. I have been living in a 4 bed house rent free for the last few years and prior to that my mortgage was less than half what the rent would have been.

carslet

chucknorris wrote: »

EDIT: Is he Jonathon Davies? The guy who STR in 2003 or 2004?

Don't think he is, I heard JD bought in 2011

chucknorris

carslet wrote: »

Don't think he is, I heard JD bought in 2011

That must have been difficult for him to explain/justify, selling, renting and buying back again.

carslet

chucknorris wrote: »

That must have been difficult for him to explain/justify, selling, renting and buying back again.

Why do you think he has been quiet on the HPC front. I used to like hearing his rants not heard him for a good while now.

wotsthat

Blooloo wrote: »

but your life style might well have been a lot worse.

for the money I am paying in rent I have been in 4 bed housing for years...the current one (6th year) has a drive in drive out driveway, 4 very large bedrooms, each as big or bigger than many living areas modern flats have these days, garage, shed and a very nice garden.

Course I could have bought and maybe had some capital gains, but been in a tidly 3 bed semi..

Some might say I am silly at having thrown money away...others are in awe of where we live...clients come in and want to know when we are selling...

so, maybe its costing me a bit..maybe it isnt...but boy, do we live better than people paying a couple of hundred less in their wonderful newbuilds.

Have you never done the sums? You've made 50,000+ posts on HPC and you've never worked out the financials?

You could probably be in the same house now, paying less in a mortgage than rent and owning a bigger chunk of it each month. Why - because you couldn't 'rough it' in a 3 bed for a while. It's very short term thinking.

I can think of circumstances where you might have saved money following this path but they'd be quite unusual and certainly won't apply to the majority of people.

chucknorris

wotsthat wrote: »

Have you never done the sums? You've made 50,000+ posts on HPC and you've never worked out the financials?

You could probably be in the same house now, paying less in a mortgage than rent and owning a bigger chunk of it each month. Why - because you couldn't 'rough it' in a 3 bed for a while. It's very short term thinking.

I can think of circumstances where you might have saved money following this path but they'd be quite unusual and certainly won't apply to the majority of people.

ukcarper and myself are saying the same thing too.


We've been roughing it in a 3 bed for 9 years now, we don't actually need the 4th bedroom/3rd reception (there is only me and my wife). But I don't think we will see out our days in this house, and it is on quite a large plot, so it is worth extending it, also I do like having a gym, study and a games room. My ultimate dream would be an indoor pool, but the only way I could justify the cost would be if we bought a cottage complex (pool then paid for by the business) in the South West. We have briefly looked at it, but my wife doesn't fancy the work associated with it. One day I might get around to see if there is a market renting it out for private swimming lessons/other swimmers who like me don't particularly enjoy using the public swimming pool.

Rinoa

carslet wrote: »

Why do you think he has been quiet on the HPC front. I used to like hearing his rants not heard him for a good while now.

He now calls himself 'Killer Bunny' on HPC.

Still maintaining the 'Crash' is just round the corner.