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

Crashy_Time

robmatic wrote: »

I bought my flat in Edinburgh in 2010. My mortgage interest was £200pm, and when I was single I had lodgers who would pay me £350pm in cash.

Damn, I wish I'd had cheap rent.

Have you paid off the principle yet?

Crashy_Time

robmatic wrote: »

Good luck with paying your rent with ISA rates :eek:

How has that ISA plan worked out for you over the last 17 years?

Didn`t you used to post on the Edinburgh threads on HPC? You sound as bitter as the muppets on here. Something didn`t go to plan I take it?

Jack_Johnson_the_acorn

robmatic wrote: »

I bought my flat in Edinburgh in 2010. My mortgage interest was £200pm, and when I was single I had lodgers who would pay me £350pm in cash.

Damn, I wish I'd had cheap rent.

Don't aggravate him with facts and figures.... he can't handle the gravity of his poor life choices.

I don't discourage people from renting if it means they are happier(lifestyle) or they need to rent to to be more mobile for job opportunities... but to claim that paying over £80k in rent is "saving money" is just absolutely ludicrous.

robmatic

Crashy_Time wrote: »

Have you paid off the principle yet?

I think you mean the 'principal'.

But nah, I have a tenant in the flat now. They're paying it off for me.

Rota

ladeeda wrote: »

Do LL's not allow retired people to rent?

They sure do, while they are getting money from them. A smart person would ensure they don't have a rent cost when they don't have the ability to earn money.

robmatic

Crashy_Time wrote: »

Didn`t you used to post on the Edinburgh threads on HPC? You sound as bitter as the muppets on here. Something didn`t go to plan I take it?

Who's bitter? I own a flat in a nice area in central Edinburgh, the tenant is paying off the mortgage and the income helps fund my nice lifestyle in Turkey :beer:

Jack_Johnson_the_acorn

Crashy_Time wrote: »

As I am now going to calculate as near as possible from memory the ACTUAL rental costs over the time period it will probably be under 80k.


1, As I was s*hagging some of the people I shared the toilet with I don`t know what your point is.


2, One of the flats lasted 7 years so I can only assume that you are projecting your own fear of eviction when the banker kicks your a*ss out for not making payments.


3,Your last one is coming from the emotional world of a child, so I am going to withhold comment.


4,My "equity" is in the bank, and I can get at it a whole lot quicker than you can get at yours I bet.

1, I wrongly assumed you would want to live independently from possible crack-head strangers.... Maybe I was wrong.

2, I am comfortably paying my mortgage of (Capital&Interest)£482pcm + making overpayments of £600pcm. So I do not fear the banker.... I am grateful he gave me such a lucrative opportunity.

3, Decorating and improving my property is off huge benefit to me. I've no idea why you're so offended by that comment.

4, I also have savings, possibly more than you, who knows, In 8 years though (when my house has increased in value by 10% could be more or less) I will have ZERO housing costs i.e mortgage or rent.... Whereas you will still be ploughing your hard earned cash into your LL's pocket.
:T

Rota

Crashy_Time wrote: »

Please tell me that you are joking? 100k, or whatever, tied up in a totally illiquid asset in the biggest housing bubble of all time is better than just popping the 100k into an NS&I ISA?

Bruce would be very proud of you Crashy, you managed to get that in there.

Whether its illiquid or not your bank will treat you a whole lot different as a home owner over a renter. I know, I work for one!

Crashy_Time

robmatic wrote: »

Who's bitter? I own a flat in a nice area in central Edinburgh, the tenant is paying off the mortgage and the income helps fund my nice lifestyle in Turkey :beer:

If you have a mortgage you don`t own anything I`m afraid.


Just to add, if you don`t know the difference between owning a flat and having a mortgage on a flat, don`t bother pulling me up on my spelling pal. Cheers.

Crashy_Time

Rota wrote: »

Bruce would be very proud of you Crashy, you managed to get that in there.

Whether its illiquid or not your bank will treat you a whole lot different as a home owner over a renter. I know, I work for one!

You work for a renter? Good for you.