Michelin, Gallaghers etc - lots of bad economic news!

qwert_yuiop

motorguy wrote: »

However, you OWN the house now - thats an asset with a monetary value. If you'd rented for 27 years you'd have nothing to show for it.

The people who rented out our last house to would love to have bought it, however they were hitting 50, so they could only get a mortgage over 15 years, and hadnt got a significant deposit.

Where will they be in 15 years time when retiring and looking for the rent money each month?

Well, who knows? Able to write a cheque to buy a retirement bungalow? Maybe.

saverbuyer

<Insert anecdotal that can't be proven here>
<insert housing cliche here>
<repeat>
e.g


I sold my house for 18 million quid over asking price, 5 million over RV. I can't tell you the address sorry.


Renting is dead money. You're only paying the landlords mortgage.

tara747

saverbuyer wrote: »

<Insert anecdotal that can't be proven here>
<insert housing cliche here>
<repeat>
e.g


I sold my house for 18 million quid over asking price, 5 million over RV. I can't tell you the address sorry.


Renting is dead money. You're only paying the landlords mortgage.

:rotfl::rotfl:

CEON44

Anyway... Back to Moypark. I see there's a programme on tonight about them. The Chicken People, BBC1 10:35. Trailer said they have up to 40 million chickens on the go at one time!! Hell of a lot of chicken s**t to be shovelling.

motorguy

Northern Ireland wages no longer lowest in UK...

http://www.bbc.co.uk/news/uk-northern-ireland-34855674

motorguy

House prices continue to rise....

http://www.bbc.co.uk/news/uk-northern-ireland-34858736

Except of course on Taras street where they have remained remarkably static this past two years. :rotfl:

motorguy

saverbuyer wrote: »

I can't tell you the address sorry.

I'm more than happy to message you the address for confirmation, certainly not posting it on an open forum.

qwert_yuiop

motorguy wrote: »

Northern Ireland wages no longer lowest in UK...

http://www.bbc.co.uk/news/uk-northern-ireland-34855674

Pretty impressive rises.

Interesting how Wales has continued to slip over many years. Probably to do with losses of highly paid jobs in mining.

waltsalt

joefizz wrote: »

Over the lifetime of the mortgage I have probably paid at least half the sale agreed price in terms of maintenance and improvements. (new kitchen, bathroom, redecorated 3 times, double glazing, new loft insulation, new pvc eaves, carport, garden redone twice, driveway redone twice, new central heating system, replacement boiler x2, replacement pump x3, replacement 2 port valve x3, replacement fuse box etc etc etc), In fact it would probably scare me to say that over the lifetime of the mortgage that 1/2 the price in maintenance is probably the price in maintenance.

A lot of these maintenance costs are only incurred through choice. You may not get these done in a rented house so shouldn't really consider them here if you want to compare apples with apples. If the rented house is still functional then the landlord isn't really going to care if the kitchen or bathroom is less fashionable than it used to be.

x12yhp

House prices - it is sad that this is such a divisive topic. Most people are wanting to trade up and miss the fundamental that a rising market means that the difference between a low price and a high price home is increasing. That means that, unless you are trading down, house price inflation is against you, not in your favour. My biggest beef is that the majority continue to view a house as an investment and not somewhere to live.

As for the topic - yes, there is a lot of bad news. I am an NI based manufacturer and I can tell you that there are loads of factors making life hard. Admittedly the corporation tax will help us massively but simple things, like insurance, are a nightmare. If we hadn't shopped around, we could have spent 20% of our profit on insurances. I have been shouting about this for a while but, at a time where we are trying to grow things like manufacturing, the insurance sector is busily undermining it.