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

danothy

MobileSaver wrote: »

You could be right, you may well have paid it off for him by now. :beer:

Imagine that, you buy into the biggest ponzi scheme ever, just when the bubble is about to burst, incur bankers interest on your purchase to boot, but you manage to trick the guy who hasn't made that mistake into paying for your investment. Hell, even with all the maintenance costs and selling at a fraction of the paid for price you'd be up, wouldn't you?

Crashy_Time

danothy wrote: »

Imagine that, you buy into the biggest ponzi scheme ever, just when the bubble is about to burst, incur bankers interest on your purchase to boot, but you manage to trick the guy who hasn't made that mistake into paying for your investment. Hell, even with all the maintenance costs and selling at a fraction of the paid for price you'd be up, wouldn't you?

With the rents I`ve been paying? Probably not.....:rotfl: I think it is getting clear that for many, even if they have tenants paying some or all of the mortgage at record low rates, that at some point there will be no option but to suck it up.

danothy

Crashy_Time wrote: »

With the rents I`ve been paying? Probably not

No, your landlord doesn't even have a mortgage according to you. They're just making naked profit out of you.

Crashy_Time

danothy wrote: »

No, your landlord doesn't even have a mortgage according to you. They're just making naked profit out of you.

They are supplying furnished accommodation with repairs at a very competitive price. You have to get it into your head that rent is just a cost, it will be a great psychological help to you in the coming crash.

danothy

Crashy_Time wrote: »

They are supplying furnished accommodation with repairs at a very competitive price. You have to get it into your head that rent is just a cost, it will be a great psychological help to you in the coming crash.

Rent is just a cost indeed. So is a mortgage payment. For someone looking to live in a house, how does it make sense to pay rent forever rather than a mortgage for 25 years?

Crashy_Time

danothy wrote: »

Rent is just a cost indeed. So is a mortgage payment. For someone looking to live in a house, how does it make sense to pay rent forever rather than a mortgage for 25 years?

Because as the crash starts to bite someone who paid bubble price will have to discount more in one move to sell than I pay in rent in a year. Aberdeen is the case study at the moment. Watch and learn.

danothy

Crashy_Time wrote: »

Because as the crash starts to bite someone who paid bubble price will have to discount more in one move to sell than I pay in rent in a year. Aberdeen is the case study at the moment. Watch and learn.

If you're buying to live there, as would be the case if you were renting a place, why would you sell? You seem to be renting because you want to live somewhere, but you seem to only think of house buying in terms of not having somewhere to live.

Crashy_Time

danothy wrote: »

If you're buying to live there, as would be the case if you were renting a place, why would you sell? You seem to be renting because you want to live somewhere, but you seem to only think of house buying in terms of not having somewhere to live.

I didn`t want to live in any of my rented flats for 25 years. Who cares anyway, we are about to see what a property crash looks and feels like. Many people in the UK will be totally gobsmacked.

danothy

Crashy_Time wrote: »

I didn`t want to live in any of my rented flats for 25 years.

How telling ...

Jason74

Crashy_Time wrote: »

I didn`t want to live in any of my rented flats for 25 years. Who cares anyway, we are about to see what a property crash looks and feels like. Many people in the UK will be totally gobsmacked.

Perhaps, and I actually hope you're right . . . . . . . . . . . . . . .but weren't you saying something similar this time last year ?