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Comments
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Return to a thread and see yet again crashy has ruined it.
If everyone ignored or blocked him he would go back to his lonely one bed rented bed sit and post his nonsense somewhere else.
Crashy you didn't reply do you want the number of someone who works at my place he is just like you and posts rubbish as he has nothing else to do or concentrate on and is so bitter he hasnt bought a place by late forties?
I don't know why I'm asking as I know I'll see a post from crashy in the form of a link to a house price crash website instead.
Like you do? :rotfl:0 -
In answer to OP, I love the old saying about "live like nobody else will now, so you can live like nobody else can in the future"
You might feel like you are missing out now but if you buy as early as you can then you will be the one feeling smug later in life when your friends are all still stuck in the rent trap!
My husband and I are in our 20s and lucky enough to own our house, and to afford it we don't eat out, go on expensive holidays, have gym memberships etc etc...
I do believe houses are affordable to Millenials, but unfortunately they choose to have an easy lifestyle rather than prioritise investing in a stable future.0 -
jeanzbeanz wrote: »In answer to OP, I love the old saying about "live like nobody else will now, so you can live like nobody else can in the future"
You might feel like you are missing out now but if you buy as early as you can then you will be the one feeling smug later in life when your friends are all still stuck in the rent trap!
My husband and I are in our 20s and lucky enough to own our house, and to afford it we don't eat out, go on expensive holidays, have gym memberships etc etc...
I do believe houses are affordable to Millenials, but unfortunately they choose to have an easy lifestyle rather than prioritise investing in a stable future.
If you get deep into debt for a shoebox, especially in London, and interest rates rise, you won`t have a stable financial future, quite the opposite in fact
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Crashy_Time wrote: »If you get deep into debt for a shoebox, especially in London, and interest rates rise, you won`t have a stable financial future, quite the opposite in fact
If your sensible and borrow only what you can afford then you will secure your future for the rest of your life, chances are your mortgage will be less than your rent if you have a decent deposit and after 25yrs once the mortgage is paid off you pay nothing more, you own the property.... The alternative is pay rent for your life....
Home ownership is not for everyone but there is a reason it is so coveted.0 -
If your sensible and borrow only what you can afford then you will secure your future for the rest of your life, chances are your mortgage will be less than your rent if you have a decent deposit and after 25yrs once the mortgage is paid off you pay nothing more, you own the property.... The alternative is pay rent for your life....
Home ownership is not for everyone but there is a reason it is so coveted.
The reason it is "So Coveted" as you say :rotfl:is because people believed they were buying a cash machine or a lottery win, and it was, until it wasn`t. Sentiment is very different now, there will be many with very large mortgage debt dreading the coming rate rises IMO.
https://www.standard.co.uk/business/bank-of-england-must-tread-softly-to-stop-housing-slowdown-turning-into-a-crash-a3806741.html
All that happened was that bankers stoked the fires of lending (and bonus payments) by appealing to the "Greed" side of human nature, and also to some extent to "Fear" (fear of losing out) The real fear is yet to come though, and that is when people will panic and attempt to cut their losses, as they always do in crashes.0 -
Crashy_Time wrote: »The reason it is "So Coveted" as you say is because people believed they were buying a cash machine or a lottery win,
You are completely wrong and this is one of the main reasons why you made the biggest mistake of your life regarding property and your finances.
The vast majority of property owners bought a home and not an investment; they wanted somewhere secure where they couldn't be turfed out with 2 months notice, where they didn't need permission to have pets or need permission to redecorate their bedroom. They also had enough common sense to realise that paying their own mortgage was always going to be more sensible than paying someone else's.
It is you and your HPC friends who are fixated on whether house prices are going up or down and as you are now all finding out, you are all dearly paying the price for your delusions.Every generation blames the one before...
Mike + The Mechanics - The Living Years0 -
MobileSaver wrote: »You are completely wrong and this is one of the main reasons why you made the biggest mistake of your life regarding property and your finances.
The vast majority of property owners bought a home and not an investment; they wanted somewhere secure where they couldn't be turfed out with 2 months notice, where they didn't need permission to have pets or need permission to redecorate their bedroom. They also had enough common sense to realise that paying their own mortgage was always going to be more sensible than paying someone else's.
It is you and your HPC friends who are fixated on whether house prices are going up or down and as you are now all finding out, you are all dearly paying the price for your delusions.
Honestly can`t remember getting two months notice...ever, most of my rentals have been me giving notice TBH. One house I stayed in the landlord gave TWO YEARS notice, because that was roughly how long until the developer he was selling to would need access to the land/property, the rent was dirt cheap as well
http://www.thedailymash.co.uk/news/society/people-who-dont-buy-a-house-will-never-be-happy-20130821788320 -
The one thing Crash forgets is once you have paid off the mortgage you are living totally free of that large cost. Renting and you will never be free of that cost. Even a cheap rent is still a decent wedge of money a year. A person could live 30 years without paying housing costs...that sum ofmoney is huge.
I once worked out on average that for my own situation it will take interest rates of around 10% over a 25 year period for it to be more cost effective up to 80 for me (I'd assume the state will eventually pick up a renters bill by that point?)to rent rather than have a mortgage.
We may get a short burst up to 10% at some point...but no way we will average that over a 25 year period! So financially its better by a long way to buy unless things go apocalyptic.0 -
Koldweather1 wrote: »The one thing Crash forgets is once you have paid off the mortgage you are living totally free of that large cost. Renting and you will never be free of that cost. Even a cheap rent is still a decent wedge of money a year. A person could live 30 years without paying housing costs...that sum ofmoney is huge.
I once worked out on average that for my own situation it will take interest rates of around 10% over a 25 year period for it to be more cost effective up to 80 for me (I'd assume the state will eventually pick up a renters bill by that point?)to rent rather than have a mortgage.
We may get a short burst up to 10% at some point...but no way we will average that over a 25 year period! So financially its better by a long way to buy unless things go apocalyptic.
The debt you would need to take on now to reach that goal though just isn`t worth it for more and more people, especially as interest rates are going to start rising, the only realistic outcome is that prices correct, or the state picks up the tab for more and more people in old age.0 -
Crashy_Time wrote: »The debt you would need to take on now to reach that goal though just isn`t worth it for more and more people, especially as interest rates are going to start rising, the only realistic outcome is that prices correct, or the state picks up the tab for more and more people in old age.
As interest rates rise so will inflation, the advantage is in 20yrs time a lot of the mortgage can be inflation-ed away where as rents will generally increase...0
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