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'We've reached a tipping point' Signs of house price weakness
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Crashy_Time wrote: »If they bought for cash yes, but during that time I have shared houses that were worth 700 -800k with large private gardens. Beats flat living any day, and they still have to find a buyer to realise any gains. Oh, and if you read the links their flat hasn`t increased in price since 2004.
Oh and a serious repair or two could be the best part of 10k, so they are not really a great example of "winning" at life through buying property?
No if they had bought on an interest only mortgage.0 -
Crashy_Time wrote: »Touch a nerve did I?
:rotfl: :rotfl:0 -
Crashy_Time wrote: »If they bought for cash yes, but during that time I have shared houses that were worth 700 -800k with large private gardens. Beats flat living any day, and they still have to find a buyer to realise any gains. Oh, and if you read the links their flat hasn`t increased in price since 2004.
No the example was what a 'debt junky' would've paid on an IO mortgage. You've invested about £50k more into the HPC project - you're one of the lucky ones because you've made the most of renting and it seems to suit you.Crashy_Time wrote: »Oh and a serious repair or two could be the best part of 10k, so they are not really a great example of "winning" at life through buying property?
Maybe but it's really not the norm.
Out of interest hasn't anyone ever argued with your assertions on HPC in the past?0 -
No the example was what a 'debt junky' would've paid on an IO mortgage. You've invested about £50k more into the HPC project - you're one of the lucky ones because you've made the most of renting and it seems to suit you.
Maybe but it's really not the norm.
Out of interest hasn't anyone ever argued with your assertions on HPC in the past?
Hard to argue with a flat near the centre of Edinburgh selling for about 70k in 2004, and trying to sell now for.....about 70k?0 -
If they had bought that £70k flat on a 100% repayment mortgage they would have paid £47k over those 10 years and they would owe £50k.
According to your figures you have paid the same in rent.0 -
OK, I think I've just rumbled your game. You must be a full on raging housing bull who's set up a parody account to make anyone with bearish sentiments look stupid by putting bearish arguments in a really dumb way.
There's just no way that some of the stuff you come out with can be genuinly held ideas. .
No... this really is a classic example of the mentality of the typical poster on HPC.co.uk.
He posts over there as 'dances with sheeple', and has been renting in Edinburgh for 17 years.
And still can't figure out he'd have been better off buying.Indeed, I almost wonder whether "you" are in fact something that Hamish has created for humour value
I really don't need to create bear accounts to make them look stupid....“The great enemy of the truth is very often not the lie – deliberate, contrived, and dishonest – but the myth, persistent, persuasive, and unrealistic.
Belief in myths allows the comfort of opinion without the discomfort of thought.”
-- President John F. Kennedy”0 -
Crashy_Time wrote: »Hard to argue with a flat near the centre of Edinburgh selling for about 70k in 2004, and trying to sell now for.....about 70k?
It is when you could have bought it in 1997/8 on a mortgage and now own it outright.
For less than you've paid in rent since.
I mean, seriously.....
What on earth were you thinking?
No wonder you obsessively troll house price websites....
That sort of disastrous mistake is so bad for your lifetime financial position it could seriously affect mental health.
I actually feel a bit bad I spent so many years laughing at you now....:o“The great enemy of the truth is very often not the lie – deliberate, contrived, and dishonest – but the myth, persistent, persuasive, and unrealistic.
Belief in myths allows the comfort of opinion without the discomfort of thought.”
-- President John F. Kennedy”0 -
HAMISH_MCTAVISH wrote: »It is when you could have bought it in 1997/8 on a mortgage and now own it outright.
For less than you've paid in rent since.
I mean, seriously.....
What on earth were you thinking?
No wonder you obsessively troll house price websites....
That sort of disastrous mistake is so bad for your lifetime financial position it could seriously affect mental health.
I actually feel a bit bad I spent so many years laughing at you now....:o
Didn`t you buy near the peak Hamish? All to troll for eh?0 -
Crashy_Time wrote: »Didn`t you buy near the peak Hamish? All to troll for eh?
The 2007 peak? Yep. And now well over 100K better off by buying rather than renting since then. Prices well above those levels nowadays too.
Whereas you just spent 17 years buying a house for your landlord.
And yeah, I take it back, I don't feel that bad laughing at you.....:rotfl:“The great enemy of the truth is very often not the lie – deliberate, contrived, and dishonest – but the myth, persistent, persuasive, and unrealistic.
Belief in myths allows the comfort of opinion without the discomfort of thought.”
-- President John F. Kennedy”0 -
But you and house have not "made" £100k. You have to sell it first. And then what will you buy because every other property has increased. Scotland is a cheap place to buy but where will you buy to get the benefit of the £100K?0
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