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House Price Crash Forum

tomr

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About tomr

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    HPC Poster
  1. Jesus, that's a pretty big spike right at the end though.
  2. I think this is a lot of people's philosophy. Want to buy a house? Yeah, just go for it, it'll be fine. I think if you went and showed the HP vs. avg earnings graph over the last 100 years to a lot of recent FTB's around at the moment, a fair few of them would be pretty shocked. "But I thought house prices only ever went up? That's what you hear on the news after all!". There must be a fair proportion who aren't even aware of the previous HPCs...
  3. Well, there are so many things that rise faster than inflation for students, like last year for example tuition fees were about £1000, this year they're putting them up to around £3000 !!
  4. That's alright then, gives the people who put the house on the market just before June an ample 5 months to sell before they have to fork out for a HIP. And seeing as houses will be flying off the shelves at that time, there should be nothing to worry about!
  5. Ah of course, RPI being the measure of inflation that includes mortgage repayments, and obviously almost all graduates take out a mortgage almost immediately after graduating!
  6. What?!?!?!? I thought it was supposed to be fixed with inflation, which is supposed to be 2.2%! Oh well, as long as it's less than the interest I get from my ISA I'll know to carry on paying into that instead of thinking about paying off my SL early.
  7. As someone on here said the other day, an economy cannot get rich by buying and selling houses from each other. House prices can continue to go up, but no wealth is actually generated, only debt. Maybe people should stop worrying about how they can make money by buying/selling houses at the right time, and concentrate on producing some goods/services that people actually want.
  8. This is the main thing I can't understand about people who see buying an "investment property" as equivalent to a pension. I can understand that by-and-large over the long term prices do go up, so if you kept the house for 20-30 years there's not much chance that it won't have gone up in value. But as the famous HP vs. average income graph shows us, house prices are long cycle, so what if you get to age 65 and want to retire, but the value of your house(s) are currently floundering at the bottom of a very deep trough. You could be waiting 5 years or more before it's worth enough again for you to sell up and retire!
  9. So do you agree that most owner-occupiers don't benefit from HPI, or not?
  10. Surely that's pretty dodgy? If the EA handles getting the HIP done and pays for it, surely that opens up massive scope for backhanders with friendly surveyors etc? Wait a minute ... that's already the case. Silly me.
  11. Saw also today that Amex are pulling out of the "balance transfer" credit card market, as apparently the industry loses £600m a year due to rate tarts. If other lenders follow suit, that's another stream of cheap debt that will have dried up.
  12. If you have a law degree you have to do this. If you don't have a law degree you have to do a conversion course (1 year), then another year I think, then a year of training in a law firm before you get to the 30k starting salary, 3 years after leaving uni. And the conversion courses etc are usually hugely expensive and have to be paid for by a big bank loan.
  13. Hahaha. Did you ask her what the yield was? Did she say "what's that?"?
  14. Yeah, I met a reasonably intelligent EA once. Only once though.
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