House Prices 'Will Hit 15 TIMES The Average Income', Leading Economists Predict

westernpromise

Crashy_Time wrote: »

http://www.express.co.uk/life-style/property/845308/house-prices-property-for-sale-news

Have you worked out your BCR yet Crashy?

To take your mind off it, why don't work out how much rent you owe? If you're in your 50s you can probably expect to live another 30 years, so if your rent's £5k a year that's a debt of £150k hanging over your head.

How does that feel?

chucknorris

westernpromise wrote: »

Have you worked out your BCR yet Crashy?

To take your mind off it, why don't work out how much rent you owe? If you're in your 50s you can probably expect to live another 30 years, so if your rent's £5k a year that's a debt of £150k hanging over your head.

How does that feel?

I said a while ago on here that I was going to sell my properties as my tenants gave me notice, and I did sell one property (and my wife another). But the highest yielding property's tenants have just given me notice, and I would have to make over 7% gross on the released equity to do as well. So I am going to re-let that property for the time being, there just isn't anywhere nearly as good to invest the equity.

Mortgagefreeman

Crashy_Time wrote: »

Being banned from HPC has obviously had a very profound and long lasting effect on some posters here:(

Not really I just get on with life living in my own home.

Mortgagefreeman wrote: »

I see TheCountOfNowhere's still there, one of many sad cases. I believe the site HPC started around 2004, the same year I bought my Home. 13 years on I'm mortgage free, and living the dream. Saddo Count is still living in some grim hovel paying rent to his Landlord.

Makes me laugh.:rotfl:

Icing on the cake is my misses has recently sold her company, and we've both retired, rather earlier than most. :j

What have you been up to?

HPC_Ghuol_Hunter

chucknorris wrote: »

Did the countofnowhere not move to a luxury villa in France?

You really think that little racist would have the ability and intellect to successfully integrate and work abroad? His comments on EU immigrants are some of the worst I've ever had the displeasure of reading.

HPC_Ghuol_Hunter

westernpromise wrote: »

Have you worked out your BCR yet Crashy?

To take your mind off it, why don't work out how much rent you owe? If you're in your 50s you can probably expect to live another 30 years, so if your rent's £5k a year that's a debt of £150k hanging over your head.

How does that feel?

What's BCR if you don't mind me asking? Is it similar to a RFL?

westernpromise

Breakeven Crash Requirement: the %age amount by which the market must now fall in order for renting for the last x years to look like a smart move.

https://forums.moneysavingexpert.com/discussion/comment/69968963#Comment_69968963

chucknorris

westernpromise wrote: »

Have you worked out your BCR yet Crashy?

To take your mind off it, why don't work out how much rent you owe? If you're in your 50s you can probably expect to live another 30 years, so if your rent's £5k a year that's a debt of £150k hanging over your head.

How does that feel?

He is (as you know) in an awful position, I reckon property prices would have to fall by as much as 80% for him merely to recover his position on property prices, that of course doesn't include:

- Stamp duty
- Solicitor's fees
- Miscellaneous fees (valuation, mortgage arrangement, etc.)
- Much better mortgage deals which are no longer available (i.e. lifetime trackers such as 0.38% above the base rate)
- Rent paid during all those lost years (about 2 decades!)

As it was about 2 decades ago when he sold to rent, it can't be that far from when he would have been mortgage free, if he had stayed in the same property, although I accept that probably doesn't happen that often. So when he talks about how cheap his rent is, the response should be, that he would have been mortgage free in a few years (and his current mortgage would probably have been even less than his rent now anyway).

System

I'm pretty sure it was over 130% now.

noodle_doodle

mystic_trev wrote: »

I haven't browsed HPC for ages, but it's always worth a look, if only for a laugh!

I see this particular news item has bought out the three Village idiots. CountOfNowhere, Bruce Banner and Venger. These guys must have lost serious amounts of money and are now unable to buy any decent Property. They've been banging on about a HPC for the last dozen years, or so, meanwhile Property prices have doubled or trebled in the areas they're looking at.

I don't usually take much pleasure in other people misfortune. In their cases I've made an exception.:D

But But But Bruce Banner lives in a massive house he rents for 3p a month and all his money is in investments returning 25% per annum, plus he saves on maintenance bills by not having to replace his own lightbulbs, he said so, he wouldn't lie to the hpc.

I'm sure he also said he was retired, and that was about 8 years ago, !!!!!! is he doing with himself?

The only people who may have done well over on that sinkhole are those who had money in other currencies given the brexit drop in the pound. And even that only applies if you'd sold your house soon before last summer, turned it into €/$, and are now looking to repurchase in £. Which isn't many of them given they've been sat there waiting since about 2005, though they'll all claim it.

economic

Malthusian wrote: »

I stopped listening to the opinions of so-called "expert" economists 10 years ago. When I received my Economics degree.

economics degrees are a waste of time. they should be scrapped. the "profession" of being an "economist" should also be scrapped.