London Has Peaked

wotsthat

Bubble_and_Squeak wrote: »

i've told you before!
stop making things up!
because people that make things up forget what they've made up and then make up more things that don't match up to the things that they made up before!
just go back to your desk and make up something to say to your vendors when they ring in to ask you why their house hasn't yet sold for the price that you made up.

You said house prices move slowly. There's evidence, much of it very recent, that this isn't the case.

I can see why you'd try and dismiss this as made up. Not that I expect you to maintain this position for very long if prices fall by a significant amount.

You've spent too much time on HPC if calling someone an estate agent has entered your vocabulary of insults.

wotsthat

Crashy_Time wrote: »

What cash rich and debt free you mean?

Which is ultimately what you're about judging by the number of times you mention it.

The arguments about houses are just a smokescreen - you just have a deep fear of debt and responsibility. I think you'd crap yourself if prices fell 50% because you'd be faced with having to spend some of your cash which provides such a crutch. I don't think you want the responsibility of a place you need to maintain or be committed to for more than 6 months. Let's face it, you're nearly fifty - if you wanted to be an owner occupier you already would be.

You'll never buy.

lisyloo

What cash rich and debt free you mean?

Me too, only I have a house I can live in for the rest of my life too......................................nah nah nah nah nah :-)

That's the bit you don't seem to get.
Once it's paid off then you have it................forever.

MFW_ASAP

Crashy_Time wrote: »

What cash rich and debt free you mean?

Keeping money in cash is a very poor investment strategy as it gets eroded by inflation. You're not in debt if the asset you bought is worth more than the debt. A mortgage for £100k on a £500k house doesn't mean you're in debt to the tune of £100k, it means you have net wealth of £400k.

chucknorris

MFW_ASAP wrote: »

Keeping money in cash is a very poor investment strategy as it gets eroded by inflation. You're not in debt if the asset you bought is worth more than the debt. A mortgage for £100k on a £500k house doesn't mean you're in debt to the tune of £100k, it means you have net wealth of £400k.

If he doesn't know that at his age, I don't think that he ever will, no matter how many times people/posters say it to him.

Bubble_and_Squeak

Jack_Johnson_the_acorn wrote: »

I've never once asserted such an opinion, I'm feeling like questioning your mental state was probably wise.... By saying you are wrong about one assertion doesn't in fact mean I believe the polar opposite is true, but then you're not one for logical consistency.

is the bull turning bear?

Bubble_and_Squeak

Jack_Johnson_the_acorn wrote: »

Bubble_and_Squeak wrote: »

Next you'll be telling me that rents aren't at record highs, because if you don't own property you generally have to pay rent, its also likely that rent payments will be considerably higher than the mortgage payments for the last 7 years....... But you can do the maths.

dunno about rents
but i would say
in about 10 years of renting in london i've had my rent increased once. i didn't fancy to pay more for nothing so i moved into another place that had just been refurbished.

Bubble_and_Squeak

ukcarper wrote: »

Bubble_and_Squeak wrote: »

I'm afraid it is we are not in deflation yet.

my cash is earning about 2-2.5% on average.

Bubble_and_Squeak

wotsthat wrote: »

You said house prices move slowly. There's evidence, much of it very recent, that this isn't the case.

I can see why you'd try and dismiss this as made up. Not that I expect you to maintain this position for very long if prices fall by a significant amount.

You've spent too much time on HPC if calling someone an estate agent has entered your vocabulary of insults.

for once you're right
if you had bought a house on wyemead crescent a few months ago you would have paid £51,000 more than the house next door is going for
http://www.rightmove.co.uk/property-for-sale/property-47906038.html

chucknorris

Bubble_and_Squeak wrote: »

is the bull turning bear?

Most of the so called 'bulls' on this website will have a varying degree of bearish views, I certainly do. I'm not interested in trying to make more (in real terms) money, that would mean taking on risk. The time to take on risk is when you want to make money, not when you already have it and are my age of 57, all I want now is to consolidate what I have and to recieve a reasonable income from it.