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House Price Crash Forum

Jin

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About Jin

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    HPC Poster

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    http://www.buyacar.co.uk
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  1. It's sort of irrelevant if you're hedged...
  2. Get ready for QE2 - figures as bad as this will be used as a trigger/justification IMO
  3. They should skew the numbers higher - but they don't seem to be do they. Those salary numbers aren't overwhelming when you consider house prices - there's a severe disconnect between earnings and prices.
  4. The Idea above is that you take the money that you save by renting and "save it" or invest it with a view to it being worth more than what you put in - and being enough to purchse outright upon retirement. For me renting is currently cheaper than buying by a wide margin - I fully expect this relationship to change to favour buying at some point - when it does I will buy.
  5. Jin

    West London Lunacy

    These posts tell anyone reading this all they need to know about what they should be doing here and now. Why would anyone NOT rent at these rent levels compared to buying. I'm in the same area and still seing rents static --> falling Frankly with rents at current levels, buying looks foolish and I will continue to rent and laugh at buyers getting in a flap about prices until the pricing situation rebalances one way or another (and we all know which way that'll be) Edit to add: I owned in Kingston from 01 - 07 and have rented in Putney ever since - and have never been happier or lived in as nicer place / area with all my maintenance issues taken care of with a phonecall. All this for 30% less than the like for like cost of buying.
  6. Jin

    Buying Gold At $1050

    A poor strategy for putting money into any asset class. Why not drip feed (average in) it in over 6months say? That way you smooth out your average price - if price falls you benefit and it it rises you benefit from your earlier purchases Going all in, in one transaction is somthing that pro's rarley do. So yeah if you want ot blow your load in one shot then I think you're mad - the price and asset are irrelevant to this view
  7. Seems to be assuming that people will be making it up as they write as opposed to getting the story together properly first, then filling out the form once they're happy with it. Thats what I do anyway -
  8. Thanks One more question: Could you please give me your opinion on why he has seen good returns on Fannies and Freddies? IMO: horrifically large bailouts and mark to myth accounting. Well done Billy - pure skill there mate
  9. Erm the Same PIMCO who are up to their eyeballs in Fannie and Freddie MBS's - yeah good move - lucky for them the bailout came.
  10. Jin

    Rentals Market - Sw London

    no more like 1200 pcm and at 350K = gross yield of 4.11% then you have service charges and maintenance. Yes it is that appalling for investors - hence the reason that I STR'd I'll buy to live when the yield approaches 8-9% (as this accounts for rent rises and price falls) "investors" in this market clearly didn't/haven't got a clue - their loss is my gain. The valuations of SW London property are massivelydislocated from rental costs and have been for some time - its a no brainer to rent right now and for the forseeable future
  11. Jin

    Rentals Market - Sw London

    erm try around 300-350k for a decent 1 bed in SW15 - tht changes your rent or buy calc a bit I imagine. I've jsut negotiated a 9% reduction in my rent for a 1 bed in Putney. There is a lot of stock available in this area.
  12. In London and amongst my age group 25-30 pretty much every one I know "massaged" their income on the applications usually with the help of "good" broker who would literally (I kid you not) type the salary figure on to a calculator showyou and say " you need to be earning this to get this mortgage - you do earn this...don't you" This was normal practice, nobody liked it but they felt it necessary so as to not get left behind. The amount of fraud that occurred cannot be understated.
  13. Have noticed the same in SW London The uptick in sentiment has brought out the sellers
  14. Jin

    Kingston Upon Thames

    You certainly get more than you bargain for with ex-LA, I've pormised mysellf that I would never put myself through that again. Chavvy kids useing the stairwells as a hangout, smashing the windows (which were NEVER replaced just boarded up) - in fact RBK did almost exactly no maintenance during the time was there other than simply patch things up. Drug addicts using the stairwells to shoot up then leaving needles lying around. Neighbours not taking their rubbish down and leaving it piled up outside their front door for you to step over. gangs of kids getting drunk and fighting at weekends on the estate. Constant noise and shouting. yep you definitely get more sqft for your money - but is it worth it at that money? never again
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