We’d like to remind Forumites to please avoid political debate on the Forum.
This is to keep it a safe and useful space for MoneySaving discussions. Threads that are – or become – political in nature may be removed in line with the Forum’s rules. Thank you for your understanding.
Debate House Prices
In order to help keep the Forum a useful, safe and friendly place for our users, discussions around non MoneySaving matters are no longer permitted. This includes wider debates about general house prices, the economy and politics. As a result, we have taken the decision to keep this board permanently closed, but it remains viewable for users who may find some useful information in it. Thank you for your understanding.
📨 Have you signed up to the Forum's new Email Digest yet? Get a selection of trending threads sent straight to your inbox daily, weekly or monthly!
House Price Crash Discussion Thread
Comments
-
Door to desk and vice versa is taking him 3 1/2 - 4 hours a day (morning commute can be just over 1 1/2 hours on a good day and evening around 2 hrs). He stays in London 2 nights a week. Most people think we are mad
.
I'm one of them LOL...much enquiry having been made concerning a gentleman, who had quitted a company where Johnson was, and no information being obtained; at last Johnson observed, that 'he did not care to speak ill of any man behind his back, but he believed the gentleman was an attorney'.0 -
neverdespairgirl wrote: »I'm one of them LOL
Ah right. There was me thinking you were genuinely interested, not that you wanted to sneer. 0 -
I've been waiting ages to use this link:neverdespairgirl wrote: »No, it counts for a great deal. Much more important than many things (although I'm with the New Testament on this one - compassion is the most important of virtues.
I had a wonderful education. That makes me a lucky person, not a better one.
1 Corinthians, chapter 13
http://www.lolcatbible.com/index.php?title=1_Corinthians_13A house isn't a home without a cat.
Those are my principles. If you don't like them, I have others.
I have writer's block - I can't begin to tell you about it.
You told me again you preferred handsome men but for me you would make an exception.
It's a recession when your neighbour loses his job; it's a depression when you lose yours.0 -
Ah right. There was me thinking you were genuinely interested, not that you wanted to sneer.
I am interested - and I'm not sneering, I suppose that's one of the problems with internet forums, no facial expressions, tone, etc.
I think it's a long commute, and wouldn't like it personally. But we are all different and choose different priorities, and I don't think for a moment you are wrong, just different....much enquiry having been made concerning a gentleman, who had quitted a company where Johnson was, and no information being obtained; at last Johnson observed, that 'he did not care to speak ill of any man behind his back, but he believed the gentleman was an attorney'.0 -
* Chucks bucket of cold water over dolcevita*Living on Earth can be expensive, but it does include an annual free trip around the Sun.0 -
PasturesNew wrote: »Just checking .... do you mean a tart?
I'd hate to miss a joke because I was thinking too literally.
The censor doobrey wouldn't let me use it. However there you are flaunting the dreaded T word with unbridled impunity without rebuke!
You obviously know people in high places......Living on Earth can be expensive, but it does include an annual free trip around the Sun.0 -
BSA figures show that 33pc of all new mortgages are now advanced on an interest-only basis, compared to only 13pc five years ago.
http://www.telegraph.co.uk/money/main.jhtml?xml=/money/2008/04/12/cnmortgage11.xml
a fixed term interest only mortgage, in a flat or declining market ?
prediction : Pain.
Maybe not entirely.
Only speaking from my experience of the early 90s crash but:
If you are trying to hang on to your home and have time on your side it's not such a bad idea.
You know what your budget must be as it's fixed monthly payout.
Priority number one - make the mortgage payment.
Any chance you get pay over.
As soon as possible get on repayment mortgage even if it's over a very long period.
Better by far to hold out until you could sell and at least come out debt free than be repossessed.
Then it's all out of your control and your home sold without care at way below achievable price. They don't care and you are still liable for all the outstanding debt owing. A financial millstone round your neck forever.
I know people who handed in the keys and were shafted. To this day they have never recovered financially.
I scrimped and struggled and negotiated and kept going. I remember feeling so demoralised when I realised I had paid not a jot off after 8 years of hardship. However now the total mortgage payments paid amount to far less than the property fetched when I sold it recently. I have no debt and enough in the bank to buy a smaller house outright mortgage free if I want.Living on Earth can be expensive, but it does include an annual free trip around the Sun.0 -
one of the main differences between now and then though, is the massive rise of short term fixes on mortgages, and people remortgaging multiple times during the lifetime of a mortgage.
also there's been a reluctance of banks to insist on compulsory 'repayment vehicles' during the boom time.
people on interest only mortgages are far more exposed to house price falls when it comes to remortgage, especially if LTV criteria has become stricter. At least with a repayment mortgage people have been chipping away at the capital.It's a health benefit ...0 -
Door to desk and vice versa is taking him 3 1/2 - 4 hours a day (morning commute can be just over 1 1/2 hours on a good day and evening around 2 hrs). He stays in London 2 nights a week. Most people think we are mad.
My father did a similar commute for more than 20 years... as I got older I always wondered how he managed it but, to be honest, I think he enjoyed the time away from my mother! I commuted an hour each way for two years and that was enough for me... hence our move to Cambridge to be within 15-20 mins of work. It really does make a huge difference to the amount of time I have to do things I enjoy.... However, at the time I was doing it, my children's education and dh's job were more important than a bit of 'me time'. Gradually we're starting to rearrange things to benefit all of us but that's often very hard to do in families. Sometimes one or more people have to make a sacrifice for the majority good (at least for a while).... gosh that sounds much more like martyrdom than I really mean it to!
Any chance your dh could get a job in Cambridge gingin? “A journey is best measured in friends, not in miles.”
(Tim Cahill)0 -
I was born/brought up there. I never knew anywhere else was different. Back in those days, without knowledge of the outside world (no 24 hour TV, no Internet), I just could never work out how people would expect to move elsewhere and do any better elsewhere. Wish I knew then what I do now. I'd have gone to a proper city with jobs.I know exactly what you mean PN! It is certainly difficult to make ends meet living here. City houses are either 0.5 million ++++ or ex-LA for about 0.25- 0.33 million+! I do think Cambridge is a beautiful city though. I love the cultural mix, the history of academic excellence and the amazing architecture. We've also got fantastic theatres, cinemas, museums etc on our doorstep... as well as quick links to London and most of the rest of the country. It also feels relatively safe compared to most cities I've been in. I guess that's what makes it so expensive! As you can see... I'm trying to look on the bright side today!
I was born in Cherry Hinton. And my first home was there. I bought a caravan in a caravan park there when I was about 30. My friends thought I was really posh as I had my own place! Had to kick the door to open it in the winter as it would freeze over and twice a year I'd have no water for 5 days when the pipes froze.
As I said, the "normal people" all lived out in the villages - as far out as March, St Ives or even Newmarket. Hellish traffic to get to work in the mornings, but the town was dominated by college-owned property at greatly inflated prices.0
This discussion has been closed.
Confirm your email address to Create Threads and Reply
Categories
- All Categories
- 352.1K Banking & Borrowing
- 253.6K Reduce Debt & Boost Income
- 454.2K Spending & Discounts
- 245.2K Work, Benefits & Business
- 600.8K Mortgages, Homes & Bills
- 177.5K Life & Family
- 259K Travel & Transport
- 1.5M Hobbies & Leisure
- 16K Discuss & Feedback
- 37.7K Read-Only Boards