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'We've reached a tipping point' Signs of house price weakness
Comments
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Crashy_Time wrote: »I may never buy property again, either way I am pretty sure I will end up financially ahead of someone who went I.O at the peak. As I am not a mortgage debtor I don`t really care how the mortgage reset timebomb is going, but if you want to believe that the western banking system is solvent, well good luck to you.
You have to admit though that when the London Evening Standard is flying HPC headlines there is something up and it can`t end well?
When did you sell up?
What % HPC do you now need to just break even?
Is your 'lofty' goal of being ahead of someone buying IO at peak the same one you started off with or has it been downgraded in the face of reality?
When you set out on this journey in your tiny rental didn't you really think it would be a matter of time before the Ponzi collapsed, the Western banking system crashed and you sauntered into a nice 4 bed recently vacated by a debt junky?0 -
When did you sell up?
What % HPC do you now need to just break even?
Is your 'lofty' goal of being ahead of someone buying IO at peak the same one you started off with or has it been downgraded in the face of reality?
When you set out on this journey in your tiny rental didn't you really think it would be a matter of time before the Ponzi collapsed, the Western banking system crashed and you sauntered into a nice 4 bed recently vacated by a debt junky?
The Ponzi is collapsing, and it feels good not to have any skin in the game.0 -
Crashy_Time wrote: »The Ponzi is collapsing, and it feels good not to have any skin in the game.
Have you stocked up with Beans?0 -
mystic_trev wrote: »Have you stocked up with Beans?
I have, but only because they were on special offer and I needed to get the Sainsbury's order up to £100 to get a free delivery. Luckily this week their special offer is 25% off wine (6 or more bottles).Chuck Norris can kill two stones with one birdThe only time Chuck Norris was wrong was when he thought he had made a mistakeChuck Norris puts the "laughter" in "manslaughter".I've started running again, after several injuries had forced me to stop0 -
mystic_trev wrote: »Have you stocked up with Beans?
No, but I am debt free, live within my means, and won`t be affected by a property price crash. Feels nice.0 -
Crashy_Time wrote: »No, but I am debt free, live within my means, and won`t be affected by a property price crash. Feels nice.
Not all debt is bad (I think that you have blinkers on), I definitely live WELL within my means, although I have £600k of mortgage and would be affected by a property crash, I would still be OK, so I too feel nice about my position.Chuck Norris can kill two stones with one birdThe only time Chuck Norris was wrong was when he thought he had made a mistakeChuck Norris puts the "laughter" in "manslaughter".I've started running again, after several injuries had forced me to stop0 -
Crashy_Time wrote: »Do you know how much principle you have paid off your mortgage, and how much your monthly payments will be when interest rates go up?
If the base rate goes up then it won't effect those on fixes rate mortgages initially. When it comes for renewing the mortgage that's when the rise will have an effect. I have just checked mine and a 2.5% change in the base rate which results in a 0.8% increase to the mortgage rate adds £80 per month. I'm going to have to cut back on a few things to cope with this extra expense...0 -
Crashy_Time wrote: »The Ponzi is collapsing, and it feels good not to have any skin in the game.
Too embarrassing to answer I suppose.
If you sold up, as you said, and moved into a tiny flat then you've got plenty of skin in the game. Every day that passes you need the crash to be bigger than the day before.
You mustn't forget that, according to HPC, the Ponzi has been on the verge of collapse for over a decade. Anyone who, like you, thought they didn't have any skin in the game has lost and they've lost big.
If you want to get tips on winning it's best not to take tips from losers.0 -
Crashy_Time wrote: »No, but I am debt free, live within my means, and won`t be affected by a property price crash. Feels nice.
I had accumulated five properties, debt free, all by the age of 42, when I retired 18 years ago. Not bad for a bloke who left school with a couple of O levels! Feels even nicer.:D0 -
Crashy_Time wrote: »No, but I am debt free, live within my means, and won`t be affected by a property price crash. Feels nice.
So Crashy how much do you think the market will have crashed by Christmas ? Could you estimate the money where your mouth is ?Proudly voted remain. A global union of countries is the only way to commit global capital to the rule of law.0
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