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The Equity Ladder

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Comments

  • WTF?_2
    WTF?_2 Posts: 4,592 Forumite
    im just !!!!ed off with the same threads from the usual suspects who are in my opinion trying to singlehandedly change sentiment on here.

    Hmmmm, that doesn't quite make sense :D


    In case you haven't noticed, the reason why you are seeing more and more people expressing 'negative' sentiment about price prospects is because sentiment is shifting.

    Whether or not you think house buying should be about buying a home is neither here nor there, at some stage over the last 5-6 years the 'investment' factor came into play. Like it or not, the market has been largely driven by investment and speculation (fuelled by dirt cheap credit) rather than any solid increase in market fundamentals.
    --
    Every pound less borrowed (to buy a house) is more than two pounds less to repay and more than three pounds less to earn, over the course of a typical mortgage.
  • CB1979_2
    CB1979_2 Posts: 1,335 Forumite
    carolt wrote: »
    I think to be fair you should ask that same question of people like CB1980 who seem to be trying their hardest to talk the market up.

    CB1979!!! :)

    and i don't try and talk the market up, as with other people i'm allowed an opinion am i not.

    i know the madness needs to stop, just hoping it holds out for a year or so more, so i can cut & run, and travel the world with my "equity" ;)

    at this moment in time, i don't really care what house prices do, but as with balderick just sick of the numerous same thread, started by the same people containing the same sources, quotes, links, etc etc.

    plus i do find it amusing the desperation in the posts of people hoping HP's crash and they think if they can convince 100 people on an internet forum then the market is gonna crash.

    we all know what should happen and will most likely happen, but we do not control the craziness of the property market.
  • SquatNow
    SquatNow Posts: 2,285 Forumite
    CB1979 wrote: »
    oh and of course it's a property ladder, quite simple really, looks like one to me ;)

    !---5 bed---!
    !---4 bed---!
    !---3 bed---!
    !---2 bed---!
    !---1 bed---!
    !---studio---!

    Actually it's a housing pyramid. People buying in at the bottom feed money in which flows up the pyramid increasing prices all the way up. Until people stop buying in at the bottom, at which point it collapses like ever other ponzi sceme.

    And you need to understand that that's waht it is... a ponzi sceme plain and simple, except everyone has no choice but to join in in one form or another.
    Bankruptcy isn't the worst that can happen to you. The worst that can happen is your forced to live the rest of your life in abject poverty trying to repay the debts.
  • carolt
    carolt Posts: 8,531 Forumite
    I dont give a monkeys what he thinks or what you think for that matter.

    Why would someone who loves renting and would probably never buy continue to try and talk the market down, i am in rented so a corrrection would suit me im just !!!!ed off with the same threads from the usual suspects who are in my opinion trying to singlehandedly change sentiment on here. Is that ok with you carolt? (Mr Broderick)


    If you don't give a monkeys WHY DO YOU KEEP POSTING ABOUT IT??????!!!!!!

    FYI I have never started ANY threads on this forum. You, however, have a current thread attacking macaque and myself and possibly other threads - as, unlike yourself, I actually have a life, I don't have time to read all the threads. I defended macaque's right of free speech and am now called upon to defend my own.

    I don't have the delusions of grandeur - or is paranoia? - that you appear to have. I post my opinions because they are just that - I am in no position to singlehandedly (or even with macaque's help!) change sentiment on mse or elsewhere.

    Believe it or not, people can read the evidence and make up their own minds....

    And don't me and macaque have 4 hands between us?
  • carolt
    carolt Posts: 8,531 Forumite
    My humble apologies, CB1979..... :D
  • keeperbear
    keeperbear Posts: 293 Forumite
    First Anniversary Combo Breaker Mortgage-free Glee!
    I believe that the property craze has done a lot of damage to our manufacturing industry. Investment in R&D and the number of patents filed in the UK has fallen catastrophically in recent years. Manufacturing employment has fallen to the lowest level since the industrial revolution.

    And you blame all this on HPI? What absolute rubbish. For example, how many manufacturing companies have reduced their workforce in an effort to increase shareholder value?

    I agree with some of the other posters, why don't you go and just spout this kind of rubbish on that stupid HPC website? My house is the best investment I have ever made as I live in it. In addition, unlike shares (see Nothern Rock) my house won't lose 50% of its value overnight.
  • keeperbear wrote: »
    And you blame all this on HPI? What absolute rubbish. For example, how many manufacturing companies have reduced their workforce in an effort to increase shareholder value?

    I agree with some of the other posters, why don't you go and just spout this kind of rubbish on that stupid HPC website? My house is the best investment I have ever made as I live in it. In addition, unlike shares (see Nothern Rock) my house won't lose 50% of its value overnight.

    WOW! I can't believe you logged onto here at 3:53am just to spout this kind of rubbish. I think you need to get a girlfriend Keeper Bear. :rotfl:

    p.s. I thought your mantra was that a house is a home, not an investment? I'm glad you're finally coming around to my way of thinking. ;)
    Mortgage Free in 3 Years (Apr 2007 / Currently / Δ Difference)
    [strike]● Interest Only Pt: £36,924.12 / £ - - - - 1.00 / Δ £36,923.12[/strike] - Paid off! Yay!! :)
    ● Home Extension: £48,468.07 / £44,435.42 / Δ £4032.65
    ● Repayment Part: £64,331.11 / £59,877.15 / Δ £4453.96
    Total Mortgage Debt: £149,723.30 / £104,313.57 / Δ £45,409.73
  • Dithering_Dad
    Dithering_Dad Posts: 4,554 Forumite
    Mortgage-free Glee!
    keeperbear wrote: »
    And you blame all this on HPI? What absolute rubbish. For example, how many manufacturing companies have reduced their workforce in an effort to increase shareholder value?

    I agree with some of the other posters, why don't you go and just spout this kind of rubbish on that stupid HPC website? My house is the best investment I have ever made as I live in it. In addition, unlike shares (see Nothern Rock) my house won't lose 50% of its value overnight.


    Just a quick question about old KB here.. I notice that he's now started hanging around the Loans board, rebuking people for refinancing loans. Does anyone know why he's abandoned the Housing boards? Could it be because he was wrong about that damned housing crash?

    I remember him telling anyone who'd listen (not many) to get 100% mortgages and to buy the largest house thay could get, because house prices only ever go up (even though the man himself had a 1 bed flat and was content to stay put - no property speculating for him, only for his advisee's)!

    Has anyone else noticed that the property bears (as well as the Keeper Bears) all seem to have vanished?
    Mortgage Free in 3 Years (Apr 2007 / Currently / Δ Difference)
    [strike]● Interest Only Pt: £36,924.12 / £ - - - - 1.00 / Δ £36,923.12[/strike] - Paid off! Yay!! :)
    ● Home Extension: £48,468.07 / £44,435.42 / Δ £4032.65
    ● Repayment Part: £64,331.11 / £59,877.15 / Δ £4453.96
    Total Mortgage Debt: £149,723.30 / £104,313.57 / Δ £45,409.73
  • Zelie
    Zelie Posts: 773 Forumite
    macaque wrote: »
    Edit 2.
    Spread sheets don't cut and paste well on this format however this is the way I did it:
    I assumed the house values were:
    £125K
    £175K
    £250K
    £350K
    £450K
    £550K

    I then calculated stamp duty at normal rates. Solicitors fees at £1500 per transaction and estate agents at 2%. I then assumed that the owner stayed in each property for 4 years and calculated the interest on the money at 6%. The total came to £151,516.60p.
    Where the hell are you buying houses? Mars??? :eek:

    Even now I'm looking at 3 bed properties in North London and I'm not expecting to pay more than £200K for one! £350K? No way! :rotfl:
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