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About BearMinimum

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  1. http://www.hoax-slayer.com/pds-phone-scam.html
  2. MEWing is an interesting one because yes, it means that they have a mortgage close to the "value" of their house. So what is the comparison between the person who bought in 97 but then MEWed up to the "value" of the house now versus someone who didn't benefit from HPI trying to buy that house. If the current "owner" can afford the payments on the higher mortgage doesn't that imply that the new guy could as well? if so wouldn't that mean that current prices were sustainable if people are happy to service the debt? For me I would guess that even with MEWing, the majority of people still have a reasonable (well relatively) LTV compared to what a new entrant would be able to provide. This is why I would be very interested in finding out what the average equity stored in the houses in this county is to find out what percentage of people this is true for.
  3. Hi All In my mind the housing market is trying to move from a position now where houses are "worth" one amount but where people are paying a mortgage which could be considerably below that, to one where people will actually be asked to pay back the total "value". Do we have any data on the value/equity ratio? Here is an example I was looking at (prices based on land registry for Cambridgeshire up to 97 to keep things simple) e.g bought a detached house in 1997 for £96,941 mortgage in 1997 £87,247 house "value" in 2007 £272,179 mortgage £66,328 equity £205,851 total repayments £73,080 actual capital paid off due to mortgage payments £20,919 Obviously the more recently someone bought the house the less equity they will have (again mainly due to lack of HPI not the repayments they were making). so my question is do we have any idea on what percentage of people have what equity in their houses? Because in order for prices to at least stay where they are, at some point someone who has not benefited from the recent HPI will have to buy this house for at least £272,179. Now if prices stay fairly static even if this new entry is working their way up the "property ladder" they will still have a much larger mortgage to pay on the house than is currently being paid. If houses continue to rise however, then yes, this person will have made some increases on their flat, terraced house etc but the detached house will be worth even more, requiring an even larger mortgage. Now maybe I have missed something here but this does not seem sustainable. Please point out what I have missed…. BM
  4. I do know what you mean, one example is the technique (mainly observed in women I have to say) that involves using the rower whilst somehow moving their body dramatically without actually pulling on the bar! However as long as it doesn't stop me getting on the machine I say each to their own and hey they are doing more good than lying in bed. BM
  5. I can't really understand the negative attitude that some people have against others going to a gym. Sure if it is a Sunday afternoon and I fancy some exercise I will go for a run or bike in the countryside. However for me the gym is part of my lifestyle, I go to a gym next to my work every morning between 7:30 and 8:30 in the morning which allows: Time for my 6:30 breakfast to digest before working out, having caught a train which isn't packed a controlled environment to do interval training on a treadmill (gradually increasing hills etc) a nice 25m pool to swim in without any kids in the way lots of equipment I didn't have to buy/maintain/store. great shower facilities So for me, yes it is expensive but I don't feel the same if I don't exercise at the start of the day and the gym allows me to fit that in perfectly with my day. So on the whole I agree that people that hardly ever use the gym will think twice before renewing their membership but I don't see why we are seeing the negativity towards anyone that uses a gym. BM
  6. Myself and soon to be Mrs. Bear Minimum are looking into possibly moving to Vancouver. Just looking at the pros and cons: Stay in UK Pros: Currently earn good money as an IT Contractor in the city. This gives good quality of life as can afford to travel a lot and we have everything we need. Can also currently use surplus cash to save + invest to try and make sure we are ok come retirement age. Easy to visit family. Cons: Renting for next few years to come, probably including after we have children. (Not that I mind renting but would like to be able to put up a TV bracket without potential for landlord to refuse). Would also like to own our own home when we retire. Stand up on train into London every day. Not sure I want to bring my children up in this society which seems to be obsessed with celebrity/x-factor etc. Unknown factors like what will happen to the UK as the recession bites, crime, employment etc? Have to decide where to live, close enough to get into London every day, nice enough to want to live there. Vancouver Pros: More outdoors lifestyle (i.e. hopefully ski every weekend in winter/ biking in summer) New and exciting to move to a new place, meet new people etc Better environment to bring up children. Cons: Very large cut in pay, as would probably have to go permie, so also major reduction in time off. Far from family. Cut back on travel (currently lucky enough to be able to go sailing, skiing, long haul trip etc every year) Still high house prices, but coming down. Less surplus cash to save for retirement. My basic quandary is that we have a very privileged position over here and on balance is it worth giving it up. Should we stay here where I earn enough to take a few months of a year if needed and do all the things that we want to do (travel SE Asia, spend time with kids in future), vs move somewhere where we don't have as much free time but would hopefully be more content on a week by week basis. On the whole I think it is a great position to be in and really a bit of a win win situation, however at some point we do need to make a decision. BM
  7. yes very interesting, well certainly more interesting than the work i should be doing.
  8. Right, that's it. Time to leave. http://www.cic.gc.ca/english/pdf/kits/guides/ESap.pdf Vancouver here I come.....
  9. I must be a real geek then, work as an IT Contractor for an investment bank writing .Net software and really enjoy it. Income over 100K, rent £900 a month 2 bed place 35 minutes on train from Liverpool street. Looking to build own place in about 18 months but don't know where. Getting married in Dec. No debt Looked at buying about 1 and half years ago but couldn't get over what I could afford to buy and found HPC. BM
  10. I like that path haha I would pay you to not pay me to go out in Gainsborough
  11. This must have a huge bearing on what will happen to the masses of BTL 'investors'. No remortgage valuation and therefore no asking for extra cash to keep the LTV relative (i.e margin call) = play the waiting game. The other option = game over.
  12. So it seems as long as rents don't dive (and they certainly didn't go up that much in the first place) and he doesn't think he has discovered the secret of free money and go out and buy 5 more he might well be ok.
  13. Ok, I will stop using that argument in the pub then.
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