Renting since 1998, better off than buying

nubbins

A fantastic insight into the mind of a HPC Fanatic. This is a guy who lost his missus because he refused to buy a house years ago.


http://www.housepricecrash.co.uk/forum/index.php?/topic/227260-10-drop-and-rentings-already-cheaper/

somethingcorporate

it's amazing how he extrapolates a reduction in price on an obviously overpriced house and applies it to an entire housing market.

Cognitive dissonance and self-delusion of the highest order!

[Deleted User]

If you look at house prices in a myopic, short term, sure, you'll find plenty of cases where prices dip. You'll generally find the long term trend is for them to rise.

Even his example is rubbish. Look at the historic house price sales for a property on that road: http://www.rightmove.co.uk/house-prices/detailMatching.html?prop=55377251&sale=29120304&country=england

1999 - £91.5k
2015 - £309k

Renting is great for the short term. If you base your life around it, then you'll find yourself paying off someone's mortgage in your old age.

We've got friends who live around the corner in an identical house. They sold their house a few years ago, with the plan to rent for a bit, then buy. They've been screwed since the house prices have rocketed in the area and they're now priced out.

If you live somewhere with low HPI, then maybe renting makes some sense. It could be great for getting your kids into a school you want or to provide flexibility for working.

Herzlos

18 years of rent would have made quite a dent in any mortgage, regardless of asking prices. Even on a 40 year mortgage, he'd be half way through paying.

And he still has no say over what happens with his house

Out,_Vile_Jelly

If he's happy renting, fair enough. I get bored of posters banging on about what a breathtakingly brilliant decision they made whether it's renting or buying (in Wood Green).

Really, unless you live somewhere genuinely interesting (a self-sufficient treehouse in a forest, an underwater dome, the International Space Station etc) then your housing situation is actually a pretty dull subject.

nubbins

Or...."I get bored of posters banging on about what a breathtakingly brilliant decision"....they have made renting

glentoran99

I bought in 2006, at not quite the peak of the boom, Had I been renting until the day I sold my house I would have been around 50000 better off,

westernpromise

One of the genuinely two-edged things about the internet is that it enables enthusiasts to find each other online and form communities very easily. On the one hand this means that stamp collectors, model railway fans, vintage motorbike restorers, moneysavers and wargamers etc. can get together with like-minded types and exchange information and what-not. This was never possible offline.

On the other hand perverts, David Icke fanbois, gold bugs, crashtrolls, survivalists and other assorted loonies can also congregate online just as easily as Airfix modellers. They gain from this a spurious sense that lots of people think as they do, that they aren't the fringe nutters, everyone else is. This confirms and validates them in their potty or deeply unpleasant beliefs. Bystanders and their dependents may also get swept up in this.

The harm such people do is real, is not just online and seriously damages lives.

westernpromise

glentoran99 wrote: »

I bought in 2006, at not quite the peak of the boom, Had I been renting until the day I sold my house I would have been around 50000 better off,

When did you sell your house?

glentoran99

westernpromise wrote: »

When did you sell your house?

sold it last week

Conrad

It's akin to 'Living on bulk bought pulses cheaper than normal diet'