Is this buyers remorse?

jimbog

Crashy_Time wrote: »

locking all your "wealth" away in one (or two) depreciating illiquid assets is THE number one worst financial mistake to make

And this wasn't?

Jack_Johnson_the_acorn wrote: »

You have been renting for the past 20 odd years, so let's work this out.

240 months x avg rent £400 (likely more) = £96.000.00 + moving costs, we'll say £5k in costs over 20 years. for moving so frequently (being very kind to you).

£101,000.00.......

Cheapest bedsit to buy using Edinburgh as the search:

http://www.rightmove.co.uk/property-for-sale/property-61363867.html


Property price £70,000.00
Deposit £7000
Annual interest 3.90%
Repayment period 20 years
Monthly repayment £379

So in all this time renting you could have bought this tiny apartment and saved yourself 20 yrs of future rent.

The cheapest rental available using search Edinburgh:

http://www.rightmove.co.uk/property-to-rent/property-61558957.html

£500pcm..... wow.

You must be livid, no wonder you post here all the time trying to pull people down just because they're getting on with their lives.

You'd need a crash of 100% and be given £20k in cash to break even. :rotfl:

glasgowdan

Can't people just keep replies ON TOPIC?!

Crashy_Time

https://www.thetimes.co.uk/edition/home/is-the-housing-market-about-to-crash-heres-how-to-beat-it-07vh89pfw


With the media relentlessly plugging away about the inevitable Buyers Remorse might just become a "thing"?

Jack_Johnson_the_acorn

Crashy_Time wrote: »

You hope :rotfl: Also you don`t know enough about their financial situation to make a comment on their financial management, locking all your "wealth" away in one (or two) depreciating illiquid assets is THE number one worst financial mistake to make, especially in a central bank sponsored low interest rate bubble

Yeah but we do know yours, we know for certain that you've spunked over £100,000.00 in rent (likely more)

You've previously stated that you're cash rich.... (probably a lie).

Your financial management has clearly been shocking yet you masquerade yourself as some sort of financial guru & feel you can tell others how poor their financial planning has been.

Crashy_Time

Jack_Johnson_the_acorn wrote: »

Yeah but we do know yours, we know for certain that you've spunked over £100,000.00 in rent (likely more)

You've previously stated that you're cash rich.... (probably a lie).

Your financial management has clearly been shocking yet you masquerade yourself as some sort of financial guru & feel you can tell others how poor their financial planning has been.

Even allowing for 400 p.m it is about 96k for 20 years rental costs, but because some shared flats/houses I stayed in were 200 -300 p.m for a room it is actually even less! Many people will "lose" 100k+ overnight when this ridiculous property bubble finally says bye bye! Rent is a COST, not a DEBT, you have to understand this basic economic principle if you want to be taken seriously! The question I ponder is, why do you have such a rabid interest in trying to undermine someone who is cash rich and doesn`t shell out too much in rental costs?

ReadingTim

Crashy_Time wrote: »

https://www.thetimes.co.uk/edition/home/is-the-housing-market-about-to-crash-heres-how-to-beat-it-07vh89pfw


With the media relentlessly plugging away about the inevitable Buyers Remorse might just become a "thing"?

Guess you've never heard of Betteridge's law of headlines then?

Crashy_Time

ReadingTim wrote: »

Guess you've never heard of Betteridge's law of headlines then?

No, but I`m sure you are ready and primed to enlighten me

ReadingTim

Crashy_Time wrote: »

No, but I`m sure you are ready and primed to enlighten me

Funny you should mention the word "no", but with a bit of googling, you can enlighten yourself. :money:

Crashy_Time

ReadingTim wrote: »

Funny you should mention the word "no", but with a bit of googling, you can enlighten yourself. :money:

Nobody really cares though do they, sentiment is just built on the prevailing headlines? How many of the (potential) house buying public know or care?

ReadingTim

Crashy_Time wrote: »

Nobody really cares though do they, sentiment is just built on the prevailing headlines? How many of the (potential) house buying public know or care?

You're falling into that trap yourself with your use of question marks, but Andrew Marr probably summed it up better:

A headline with a question mark at the end means, in the vast majority of cases, that the story is tendentious or over-sold. It is often a scare story, or an attempt to elevate some run-of-the-mill piece of reporting into a national controversy and, preferably, a national panic.