London Has Peaked

Crashy_Time

ukcarper wrote: »

You . .

I said MY RENT, but I will be happy to view the quote about house prices if you can post it up.

ukcarper

Crashy_Time wrote: »

I said MY RENT, but I will be happy to view the quote about house prices if you can post it up.

I'm not searching for it and you didn't say it but when I was showing you how much better off you would have been if you had bought 16years ago you implied that the flat I was basing my calculations on would have cost the same in 2015 as it was 16 years earlier.

Mallotum_X

What kind of hole hasn't seen rents rise in 16 years.

Jack_Johnson_the_acorn

Crashy_Time wrote: »

Well done. due to emergency interest rates you are a financial genius :T Assuming that interest rates don`t rise and that the renter couldn`t get a better deal by going to a private let you are winning the rent V buy war in your area, at the moment. My rent is still cheaper than your mortgage though, so I am not really jealous or anything like that, and it doesn`t change the fact that the housing market is distorted beyond all sensible measures?

I'm not quite a genius, I'm not interested in any "war" and I have no desire to make you jealous, it's been 4 yrs since I bought though and I've saved £10800 by buying rather than renting. That's 48 months x £225..... Possibly more possibly less, but most importantly I'm 4 yrs closer than you to being mortgage/rent free! (other benefits include: Security of tenure, freedom to personalize my home, increasing asset value)

padington

It looks like because of China, we're further away from interest rates rising, which is a shame, quicker the economy gets on track and the interest rates start to stabilise back up, quicker London prices will roar even higher, like they have done historically.

Fortunately for property owners the rest of the fundamentals are keeping wind in the HPI sails because of things like lack of new house building and increasing number of people so prices will continue to go up even without an over heated higher interest rate economic backdrop, albeit just a bit slower.

Crashy_Time

Jack_Johnson_the_acorn wrote: »

I'm not quite a genius, I'm not interested in any "war" and I have no desire to make you jealous, it's been 4 yrs since I bought though and I've saved £10800 by buying rather than renting. That's 48 months x £225..... Possibly more possibly less, but most importantly I'm 4 yrs closer than you to being mortgage/rent free! (other benefits include: Security of tenure, freedom to personalize my home, increasing asset value)

I hope you banked that money mate, you are going to need it.

System

Mallotum_X wrote: »

What kind of hole hasn't seen rents rise in 16 years.

Fictional ones.

Jack_Johnson_the_acorn

Crashy_Time wrote: »

I hope you banked that money mate, you are going to need it.

But my mortgage will be paid off within 10 yrs, I'm fixed until July17, so things need to go seriously tits up.... After the fix ends I should be down to 95k max on the mortgage, I can easily afford interest rates of 12% roughly£1050pcm.... Is this likely, because you're posts are really scaring me :eek:

wotsthat

Crashy_Time wrote: »

I said MY RENT, but I will be happy to view the quote about house prices if you can post it up.

So how much have house prices in Edinburgh increased by in the last 16 years whilst your rent has remain static?

Nationwide reckon something of the order of 130% - do you agree that's a fair figure to use when running a cost analysis?

chucknorris

wotsthat wrote: »

So how much have house prices in Edinburgh increased by in the last 16 years whilst your rent has remain static?

Nationwide reckon something of the order of 130% - do you agree that's a fair figure to use when running a cost analysis?

I wonder if Edinburgh is where Bruce Banner lives? It seems to fit the description, you know where house prices crash, rents are very cheap, yet the local economy is booming. Yet for some reason landlords keep on buying beautiful expensive properties and let them out for peanuts. It has to be either Edinburgh or the land of magic frogs and pixies, my money is on the latter though.