Renting since 1998, better off than buying

Jack_Johnson_the_acorn

glentoran99 wrote: »

Nothing more to it, it just the way house prices have gone, and as I said I didn't even buy at the peak, some went for 30-40k more in the same area and same type of house

Have you got a link. Maybe rightmove? I assume that hpi speculation with massive oversupply caused such a spike?

HAMISH_MCTAVISH

Jack_Johnson_the_acorn wrote: »

I assume that hpi speculation with massive oversupply caused such a spike?

Northern Ireland was the exception - there actually was a bubble there rather than a genuine supply shortage as existed on the mainland.

Prices doubled in a year between 2006 and 2007....

Jack_Johnson_the_acorn

HAMISH_MCTAVISH wrote: »

Northern Ireland was the exception - there actually was a bubble there rather than a genuine supply shortage as existed on the mainland.

Prices doubled in a year between 2006 and 2007....

As per the assumption in my post then.... I don't really know anything about the housing market in Northern Ireland but I know they've been hit pretty hard.

Crashy_Time

westernpromise wrote: »

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.

Says the person who spends every day on a forum frequented by about six people.....:rotfl:

AnotherJoe

Interesting chart, but it doesn't fit the area where I live, where prices I'd estimate are probably 50% more than in 2007. The chart shows only London getting significantly back above 2007 prices.

Example, place I bought for £200k in 2007 I sold for £250k in 2014 and now will be somewhere around £310k+ which is mad for a 2 bed terrace.

I'm south east, near Reading. Maybe I'm in a little bubble?

System

Ah that's sweet.

I wonder how much I've saved but not buying stuff which is now cheaper but I was never going to buy anyway. Millions I expect. Go me!

If he really wants to get everyone moist over there he should pick one of those mansions that have had a million pound drop to not buy instead, now that would make renting really savvy!

somethingcorporate

Joeskeppi wrote: »

Ah that's sweet.

I wonder how much I've saved but not buying stuff which is now cheaper but I was never going to buy anyway. Millions I expect. Go me!

If he really wants to get everyone moist over there he should pick one of those mansions that have had a million pound drop to not buy instead, now that would make renting really savvy!

I had that same thought, it's fools logic (i.e. not logic at all).

Conrad

AnotherJoe wrote: »

Interesting chart, but it doesn't fit the area where I live, where prices I'd estimate are probably 50% more than in 2007. The chart shows only London getting significantly back above 2007 prices.

Example, place I bought for £200k in 2007 I sold for £250k in 2014 and now will be somewhere around £310k+ which is mad for a 2 bed terrace.

I'm south east, near Reading. Maybe I'm in a little bubble?

Joe you are not in a bubble, most everywhere in the SE has rocketed, charts and stats are all to often misleading and partial for all manner of reasons.


In all areas I've been involved with, across London and SE, prices have increased by at least 60% since the trough.




Funnily enough I noticed some strange stats stating the average age of a FTB these days is late 40's (discussed on LBC), but this is arrant nonsense I work in financial services and nobody in this field believes such profound clap trap (aside from economist spokespeople for the odd Bank) - ANOTHER EXAMPLE OF 'EXPERTS' (STAT GATHERING FUNCTIONS) BEING REMOTE AND DISCONNECTED / MISLEADING. Our best guess is these figures are skewed by a massive proportion of middle aged divorcees for a whole host of reasons being classified as FTB's.


If you want to know the realities of soldiering in theatre, speak to soldiers, not boffins in Whitehall ('experts') that time and again said troops into harms way with wrong equipment and clothing.


Real experts are engineers, dentists etc, not back office chart gazers

wotsthat

His maths and logic is pretty flawed.

If he'd purchased that place in 2011 and used his rent money (£50K) he would've paid around £40 - £50k less for the house and have paid off around £30k of debt.

Instead he's paid £50k to fund his short housing bet and watched prices increase by a similar amount.

Only on HPC would a claim that he's better off as a result go unchallenged.

sabretoothtigger

nubbins wrote: »

lost his missus because he refused to buy a house years ago.

I'd say he lost his misses for ignoring her view right or wrong. Is it that unreasonable a request