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

Rota

Crashy_Time wrote: »

Are you as thick as the Laughing Monkey? There are many more people viewing the thread, and the wider boards (which Hamish is posting all over all the time) and Hamish could be a member of hundreds of forums?

Only one thick person on this forum. He pays rent and needs 125% housing correction to get skin in the game.

Rota

HAMISH_MCTAVISH wrote: »

And if a person called Crashy Time tries to tell you that it was a good idea to rent for 17 years, when the total he's paid in rent would have paid off a mortgage in full by now..... Ask him if he took his meds today.

:rotfl::rotfl:

System

No rent increases for 17 years

ukcarper

Jack_Johnson_the_acorn wrote: »

I've got a sneaking suspicion that you're not being 100% honest.

He has already admitted to paying £81k rent over last 17 years that is more than the interest on a 4.5% mortgage of £100k over the same period. The flat he refers to was £45k in 2002.

Rota

ukcarper wrote: »

He has already admitted to paying £81k rent over last 17 years

The scary thing is he has posted on HPC like he is winning this debate. It's like talking to a 2 year old who has his fingers in his ears saying "na,na,na,na,na,na,na".

It's mathematics an 8 year old could grasp but the delusion is so strong it scary. Talk about a cult! Even a broken clock is right twice a day, but the crash trolls haven't been right in 15 years. Any rational, sane person would have to start examining the evidence at some point.

padington

You can't rationalise with a gambler on full tilt. No point trying.

Blooloo

Jack_Johnson_the_acorn wrote: »

You're going to have to explain this to me.

So if my next door neighbours decide to sell for £50k, you're telling me I must immediately sell my house for the same price......:mad: why didn't someone tell me this earlier.... I feel so foolish now.

As for the price of your rent not increasing in 17 yrs.....

I've got a sneaking suspicion that you're not being 100% honest.

fine if you are sensible...but, many many mortgage holders who move do so and take out a little more than they need to do up the garden, add a new kitchen or whatever.

The calculation you make for your gains is not so simple for most people.

And, balance sheet wealth pays no bills...as for living free in your own house, that is a gross lie...you have maintenance, insurance, and local taxes to pay, and owners tend to frequent garden centres, buying plants, adding greenhouses, sheds, new bathrooms, changing carpets, extensions...etc etc.

There are people that do none of these things..there are two of my neighbours that are like this..they are both old, and live on bramble patches as they can no longer even do the gardening...

Im afraid the delusion of owning a house outright means no costs is a dream of never never land. And most people move every 4 years paying their fees to EAs, lawyers, and all else that goes with that. Increasing prices means their equity is swallowed up by the target house every time.

It is just silly to proclaim that buying is the only rational solution.

ukcarper

Blooloo wrote: »

fine if you are sensible...but, many many mortgage holders who move do so and take out a little more than they need to do up the garden, add a new kitchen or whatever.

The calculation you make for your gains is not so simple for most people.

And, balance sheet wealth pays no bills...as for living free in your own house, that is a gross lie...you have maintenance, insurance, and local taxes to pay, and owners tend to frequent garden centres, buying plants, adding greenhouses, sheds, new bathrooms, changing carpets, extensions...etc etc.

There are people that do none of these things..there are two of my neighbours that are like this..they are both old, and live on bramble patches as they can no longer even do the gardening...

Im afraid the delusion of owning a house outright means no costs is a dream of never never land. And most people move every 4 years paying their fees to EAs, lawyers, and all else that goes with that. Increasing prices means their equity is swallowed up by the target house every time.

It is just silly to proclaim that buying is the only rational solution.

Have you got any proof people move every 4 years

wotsthat

Blooloo wrote: »

It is just silly to proclaim that buying is the only rational solution.

If you want to be a homeowner (and I think most people on HPC do ) then buying is the only solution. I went for the safe option of buying with a mortgage - I understand others gamble by trying to time the market.

The rest of your post is part of a defence mechanism where you build a fantasy world in which 'most' people behave in a manner far removed from reality. To be honest I don't know why there's the obsession with other people mewing, spending a fortune on decoration, moving every 4 years .

If you don't approve of this stuff then just don't do it yourself. Why would you not buy a house because of your old neighbours not being able to garden or someone else having a more fancy kitchen than you approve of.

Jack_Johnson_the_acorn

Blooloo wrote: »

fine if you are sensible...but, many many mortgage holders who move do so and take out a little more than they need to do up the garden, add a new kitchen or whatever.

The calculation you make for your gains is not so simple for most people.

And, balance sheet wealth pays no bills...as for living free in your own house, that is a gross lie...you have maintenance, insurance, and local taxes to pay, and owners tend to frequent garden centres, buying plants, adding greenhouses, sheds, new bathrooms, changing carpets, extensions...etc etc.

There are people that do none of these things..there are two of my neighbours that are like this..they are both old, and live on bramble patches as they can no longer even do the gardening...

Im afraid the delusion of owning a house outright means no costs is a dream of never never land. And most people move every 4 years paying their fees to EAs, lawyers, and all else that goes with that. Increasing prices means their equity is swallowed up by the target house every time.

It is just silly to proclaim that buying is the only rational solution.

Right, and I'm the delusional one..... Renters are forced to move out when their LL decides. This could be every 6 months, each time you rent you are charged an eye watering amount of fees. I only pay out "fees" when I choose to sell. possibly never. I am in control of my own housing Destiny. The renter is not