If house prices fall rents will rise. Why don't crashtrolls get this?

ukcarper

Crashy_Time wrote: »

Jack_Johnson_the_acorn wrote: »

Ouch that must really sting, you can add another yrs rent on top of that figure now!!!

No wonder you post with such animosity, must be incredibly frustrated...[/QUOTE]


No debt, sizeable savings, flexibility, and landlord doing any repairs that need done tend to offset any "frustration"....but thanks for your concern :rotfl: To my mind real frustration would be sitting in the same house for forty years because no one wants to buy it, or being deep into I.O in a declining market. The money I mentioned averaged out over 15 plus years is pocket change.

But as I showed sometime ago you could own by now and be living rent free.

Crashy_Time

ukcarper wrote: »

Crashy_Time wrote: »

But as I showed sometime ago you could own by now and be living rent free.

That only works if you want to be in the same property long term, and don`t mind losing money when (if) you sell.

Crashy_Time

wotsthat wrote: »

Bit of a newsflash in there - £81,600 might just have been enough to buy a 1 bed flat in Edinburgh in 1998.

He could've bought 2 for that. At least he hasn't had to pay 'bankers interest'.

So for 400 p.m I could have bought two flats? Please tell me more about this.

ukcarper

Crashy_Time wrote: »

ukcarper wrote: »

That only works if you want to be in the same property long term, and don`t mind losing money when (if) you sell.

That's ok if you are happy to live in a house share.

Crashy_Time

ukcarper wrote: »

Crashy_Time wrote: »

That's ok if you are happy to live in a house share.

Last house share I did was 9 years ago.

danothy

Crashy_Time wrote: »

It is very simple Danny, and please use this quote the next time you quote anything to do with my rent claims - I paid 350 p.m in 1998, and I pay 400 p.m now, for a similar sized flat.

My name is not "Danny", Bubble. But on the note of what you now say your rent is/was and what you have previously said, you are contradicting your previous claim. It's not me that is apparently confused about what you've said, it's you.

robmatic

Crashy_Time wrote: »

No debt, sizeable savings, flexibility, and landlord doing any repairs that need done tend to offset any "frustration"....but thanks for your concern :rotfl: To my mind real frustration would be sitting in the same house for forty years because no one wants to buy it, or being deep into I.O in a declining market. The money I mentioned averaged out over 15 plus years is pocket change.

The HPC mantra that renting is best, despite all evidence to the contrary:

Mortgage debt is evil and is to be avoided at all costs, but an ongoing rental liability for the rest of your life is eminently desirable.

All mortgages are interest-only, and don't get paid off.

When you have a mortgage, the ability to save money magically disappears.

If you buy a property, you are stuck with it FOREVER. It is highly unlikely that someone would want to buy it off you. Especially for more than the price you paid 15 years previously.

The only way that you can be flexible with your housing provision is to rent. This is especially important when you remain in the same city for 15 years and rarely move.

If you own a property, you might have to reseal the shower yourself. **** that!

wotsthat

Crashy_Time wrote: »

So for 400 p.m I could have bought two flats? Please tell me more about this.

The place you occupy now will have cost no more than £35k in 1998.

2 x £35k = £70k
5% deposit = £3.5k
Mortgage = £66.5k over 20 years
Rate = 4.4% (my average since 1998)

Average monthly mortgage payment = £414

You'd have an outstanding debt of £14k and two flats worth about £170k. Maybe you could've found someone called some crashtastic or the like to buy the second one for you.

wotsthat

Crashy_Time wrote: »

Last house share I did was 9 years ago.

Just as you hit your forties. You're an inspiration.

Jack_Johnson_the_acorn

Crashy_Time wrote: »

Last house share I did was 9 years ago.

I'll be mortgage free before I'm 40.... Whilst you in your genius renting plan would still be in a Hmo sharing a bog..... On the outskirts of Edinburgh. It's understandable why you're so bitter, I'm looking forward to having that extra £600pcm in my back pocket for the rest of my life... where as you'll be paying another happy LL's mortgage off at this point. I've also got considerable savings and a public service fs pension.... You seem to think that only renters can save, where as in the real world, if renters could save, they would have a deposit saved by now and be looking for their perfect home.