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House Price Crash Forum

JonoP

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Everything posted by JonoP

  1. Certain people on this forum are prone to posting that they will not buy until prices return to where they were at (in terms of income multiples) in the mid nineties. I think that this is deluded. Houses in the mid nineties were undervalued, in the same way that they are overvalued today. I do not, in my lifetime, expect to see houseprice/income ratios return to where they were 15 to 20 years ago. The same people also often quote the ‘long term’ trend of average house prices averaging 3.5 times average income. Again, I think this model is flawed. The long term average spans many years where i
  2. I sell software for one of the larger US software companies. It is not glorious at all. In fact, at the moment, I quite dislike my job (hence Holland). In terms of money, after a certain amount you do not notice much difference, you just bank the ‘spare’ amount. I look at bankers bonuses with a degree of jealously. I am sure they look at oligarchs salaries with a degree of jealousy. It is the way of the world. I transferred from the UK to Aus with my current employer. If I move to Holland, it will be with a competitor. I work in a reasonably specialised field and there are not that many peopl
  3. Balls, I have been reading your posts for years now and there are two endlessly repeating themes. 1. How you might move to Germany 2. How you are jealous of people who earn more than you You need to pull your finger out and get on with life. Seriously, getting a cheap house is not the be all and end all of life. When you are on your death bed, the time you have spent obsessing about house prices will probably be a major source of regret. In the time that you have been vacillating about maybe moving to Germany I have moved from the UK to Aus and have now pretty much lined up my next job in
  4. Bet you actually do nothing but sit on HPC whinging about how unfair it all is and how you might move to germany 'soon'.
  5. Ummm, yeah, it was mainly that that I was referring to....... And WOW, what a statement!!!! Taking down the CIA website!!!! That will change the world!!!! And mean they can steal music forever!!!!
  6. Alternatively, Daddy, why do a bunch of teenage geek misfits think that launching crude denial of service attacks against a couple of websites will further their cause in terms of continuing to be able to steal music? 'cause thats what it all seems to about.
  7. Our banks would have failed. That is the elephant in the room. They still will if they jack up IRs.
  8. But I want to live in the south east. And do not talk to me about nominal. I am earning $AUD at the moment. Nominal is my friend :-)
  9. But I want to live in the south east. And do not talk to me about nominal. I am earning $AUD at the moment. Nominal is my friend :-)
  10. Very happy thanks. It is summer over here in Aus and lfe is good. On on the subject of nappies though, I suspect you will be wearring one before me. In your rented care home :-)
  11. But I would own it.... I could take the money I spend on a car and stick it in a bank. The interest would probably cover the cost of my bus tickets. But I would not be to able to move around with the freedom that I enjoy as a car owner. The freedom is worth more to me that the money I save catching the bus. Hence I buy a car.
  12. Nah, you have not answered the question and before you try to dodge the question by posting stuff about 'not buying a depreciating asset' please do realize that you are not being super amusing with your predictably cyclical answers. You are either trying to save money because you want to do something with it or because you are anally retentive about money. Which is it? :-) And as for your 50K off your rental house, hmm. Average yields are about 5% at the moment. You have rented the place for 5 years. I am guessing you have to pay about 1500 per month. As such, you will have forked out about 9
  13. Not really, no. I would still have a house that I am OK with that would have cost me a few years savings. I would have no desire to do anything with it other than live in it when I am old. Why would its value worry me?
  14. Because I am trying to work out how you define success with regards to HPC. I want an OK house without a mortgage. That is fairly clear. You want house prices to drop. But why? So you can spend cash going on cruises? Because you want to have a mad year in a casino? Because you have a penchant for the 37 Chateau Montrachet? Or because you want to die with lots of $$$. There has to be a reason that motivates you? And Lepista, when I buy a house I will not have to pay any rent either. Finally, to say it like it is: - I do not know where you live Bruce, but if you live in the south east then
  15. And what do you want to do with your capital?
  16. No, I buy when I can afford to buy. I am saying that I am not trying to time the market. And a house in the UK is nice because I know where I will be living when I am old and unable to hold down a job. Rather than being dependent on the low end renatl market. Plus, it pays me a meagre income alonmg the way.
  17. That may be true. But WHY does it make you feel more secure?
  18. Yeah, but what exacatly are you trying to achieve with that metric? It does nopt matter to me very much. Once I own a house I am one step closer to my dream of retiring and buggering off around the world living life as a nomadic angler. What is your goal - why do you want houses to get cheaper?
  19. I am not particularly fussed about whether I could buy somewhere for 2% less in 2 years time and I dislike the uncertainty that surrounds investing in equities/bonds at the moment. Returns from cash are way below inflation. When I can afford the house I want, I will buy it. I can then move on a start building up cash for my future plans, secure in the knowledge that I have somewhere to live whatever happens. Do not get me wrong, I would like prices to decline as I could get the house quicker. But it will not stop me buying if they do not. My objective is not to make/save money. It is to own
  20. Debbie - in case you were not aware, many places in Queensland have already crashed by 40% percent and the pace of falls is accelerating.... As a reference point, the apartment I rent in Melbourne costs me $3050 per month ($750 per week). It recently sold for $900K (it sold with me installed as the tenant). If I was to buy the place the Mortgage would cost $5470 per month (repayment) or $4390 (IO) assuming IRs of 6.5% and a 10% deposit. Even if I did want to buy the place, I would not be able to, as I am on a temporary visa. However, the benefits of being on a temporary visa are that I ca
  21. The way I look at it is this. I do think it is a good idea to own your own house so that when you retire you have somewhere to live and do not have to worry about ongoing rental costs. However, when you are younger, you often have a requirement to live in areas/houses that you would not want to own longer term. For example, I rented an apartment for 6 years in the middle of a Berkshire town. It was great for work and great for being able to wander in to the town center pubs/bars etc. I would never have bought such a place though. I now live in Australia, where I rent as I will not be staying
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