Rents soar to (another) record high

mwpt

Crashy_Time wrote: »

Fun sticking your head in the sand as well isn`t it, until it isn`t. As I see it I am paying next to nothing in rent, and saving far more every month, you took out a mortgage at the peak of the biggest property bubble in history with historically low emergency interest rates and you come on here hoping to get people to agree with your decision? :rotfl:

Hope you didn`t "buy" BTL`s as well?

I have just one house, my own home. Sure, I took a gamble, and if the market crashes, so be it, I won't expect to be bailed out like some of the property118ers seem to expect.

But I'm not the one sticking my head in the sand. I own up to my decisions. You're the one denying the reality of your past decisions and twisting every which way to avoid facing up to the fact that you'd have owned outright (no mortgage now) and have been in a much better place financially if you hadn't sold to rent all those years ago. I don't particularly care about that, I'm not interested in pointing it out particularly, but when you try to make my position out to be the bad one, I'll remind you of it.

gadgetmind

Crashy_Time wrote: »

Cheaper cities where, Cambodia?.

Daughter's 3 bed semi on a corner plot with off street parking in Nottingham cost her £125k. She can cover interest on mortgage 1.5x with one lodger and make serious repayments with two, which is easy as she's a medical student.

Interest on "mortgage" (loan from us) is £200pcm whereas they were paying £800pcm in rent for a shoddy terrace.

Renting is a great way to make money if you're a landlord, not so much if you're a renter.

Crashy_Time

mwpt wrote: »

I have just one house, my own home. Sure, I took a gamble, and if the market crashes, so be it, I won't expect to be bailed out like some of the property118ers seem to expect.

But I'm not the one sticking my head in the sand. I own up to my decisions. You're the one denying the reality of your past decisions and twisting every which way to avoid facing up to the fact that you'd have owned outright (no mortgage now) and have been in a much better place financially if you hadn't sold to rent all those years ago. I don't particularly care about that, I'm not interested in pointing it out particularly, but when you try to make my position out to be the bad one, I'll remind you of it.

It`s not as if I sold to rent (I sold to MOVE actually, 200 miles away) in the same city/town is it? Your ideas kind of work if you are staying put for decades, but can also backfire (See Hamish, another peak bubble buyer) but it doesn`t change the fact that you have borrowed to enter the biggest property bubble in history, that decision is one you may yet regret.

Crashy_Time

gadgetmind wrote: »

Daughter's 3 bed semi on a corner plot with off street parking in Nottingham cost her £125k. She can cover interest on mortgage 1.5x with one lodger and make serious repayments with two, which is easy as she's a medical student.

Interest on "mortgage" (loan from us) is £200pcm whereas they were paying £800pcm in rent for a shoddy terrace.

Renting is a great way to make money if you're a landlord, not so much if you're a renter.

Living with two lodgers while trying to study is a s*hit way to live though, and what happens when the house reverts back to being worth 80k or less? I suppose you can comfort yourselves that the "lodgers" picked up most of the tab when it all goes pear shaped. Your post is a great example of everything that is wrong with the UK and it`s broken property market.

cashbackproblems

Crashy_Time wrote: »

Cheaper cities where, Cambodia? Try slapping yourself awake before you come on and post this nonsense please.

what are you dumb or something?

Cheaper cities ie Birmingham/Manchester/Newcastle, where ever the work is and prices are lower than South

mwpt

Crashy_Time wrote: »

It`s not as if I sold to rent (I sold to MOVE actually, 200 miles away) in the same city/town is it?

I did not know your situation, just seen people on here saying you sold to rent. Like I say, that's your business. Many people need to rent, many people just prefer to rent. But since you have been posting about a property crash for many years, my assumption is that you'd like to own again some day. I don't like the fact that prices have risen and are rising so fast either. I want to trade up at some point.

Your ideas kind of work if you are staying put for decades, but can also backfire (See Hamish, another peak bubble buyer) but it doesn`t change the fact that you have borrowed to enter the biggest property bubble in history, that decision is one you may yet regret.

Maybe so. Guess we'll see. So far it's been a financially good decision and feels good from an emotional side too, living in my own home.

Where do you ultimately want to buy out of interest? Maybe the recent drops in prices in Scotland are making it closer.

mwpt

Crashy_Time wrote: »

Living with two lodgers while trying to study is a s*hit way to live though, and what happens when the house reverts back to being worth 80k or less? I suppose you can comfort yourselves that the "lodgers" picked up most of the tab when it all goes pear shaped. Your post is a great example of everything that is wrong with the UK and it`s broken property market.

No, not at all. This is complete nonsense. Most students share houses, or live in shared halls or residence. And even all across Europe, young working professionals share flats or houses. It's not unique to London. I shared with people when working in Germany for eg.

If you can own the house that you're sharing, it makes fantastic financial sense. I just wish I'd realised this when I was much younger.

Jack_Johnson_the_acorn

mwpt wrote: »

No, not at all. This is complete nonsense. Most students share houses, or live in shared halls or residence. And even all across Europe, young working professionals share flats or houses. It's not unique to London. I shared with people when working in Germany for eg.

If you can own the house that you're sharing, it makes fantastic financial sense. I just wish I'd realised this when I was much younger.

You'll soon find yourself regretting conversing with Crashy.... its like banging your head against a wall trying to get through to him. I mock him in a vain hope that he will let the evidence infiltrate his skull... but it's a losing battle and he will likely continue to spew out his bile and hatred to the lucky homeowners.

mwpt

Jack_Johnson_the_acorn wrote: »

You'll soon find yourself regretting conversing with Crashy.... its like banging your head against a wall trying to get through to him. I mock him in a vain hope that he will let the evidence infiltrate his skull... but it's a losing battle and he will likely continue to spew out his bile and hatred to the lucky homeowners.

I know what you mean about banging your head against a wall but I don't see it as hatred, I just think he is deluding himself. Or he knows full well what he's doing in which case he is trolling.

What is amusing is that one day he will be correct, the market will suffer a crash, and he'll probably take this as justification that he was right all along. But he probably still won't buy because prices might only have crashed to 2012 levels rather than the 1985 levels he seems to want.

HAMISH_MCTAVISH

Jack_Johnson_the_acorn wrote: »

he will likely continue to spew out his bile and hatred to the lucky homeowners.

He's been doing it for at least the last 9 years..... You can basically sum up every post he's made for almost the last decade as follows:

2007 - Ha Ha, prices are CRASHING
2008 - Ha Ha, prices are CRASHING
2009 - Ha Ha, prices are CRASHING
2010 - Ha Ha, prices are CRASHING
2011 - Ha Ha, prices are CRASHING
2012 - Ha Ha, prices are CRASHING
2013 - Ha Ha, prices are CRASHING
2014 - Ha Ha, prices are CRASHING
2015 - Ha Ha, prices are CRASHING
2016 - Ha Ha, prices are CRASHING

When you point out to him that you're a six figure sum ahead versus renting since then and would remain ahead even if local prices crashed by 50%+, the 'response' you get is basically...

"Ha Ha, prices are CRASHING"

If you look up the definition of 'mindless trolling' in the dictionary it says 'Crashy Time'.