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House Price Crash Forum


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Everything posted by Nijo

  1. Meh. I'm member number 2400 ish and joined last summer, less than a year ago. If the member count is now getting towards 5000 that makes me 'average', so I don't think too many people have been repeating the same stuff for years and years.
  2. Sounds good to me. Here's to renting. /very chilled out non-home owner.
  3. Branson did one which was pretty good. They all had to do crazy stunts to prove their worth to run a business. Completely meaningless, but good telly.
  4. You got hit by IR35? Unlucky Fingers crossed that one doesn't come my way...
  5. I think you forgot to include the 'irony' smilie...
  6. You'll speed it up a bit by packing 5 of us per house - remember that those of us not living in one of these projects still have to pay rent. Also, I'm not sure you'll find any £100k houses around here.
  7. Been here since I joined... er, whatever it says on the left. I'm fairly chilled out at the moment. There may or may not be a crash. I'm happy.
  8. If you have an IO mortgage you're no different than renting. Renting for life works if the money you save from not paying a repayment mortgage grows (as investments) at a faster rate than the capital appreciation in property. By the time you retire you should have more cash than another person has equity in their house - enough extra to pay the rent from the interest. Fairly tricky, I agree. I don't know how common this is in Germany, but the (renting) friends I have over there often have parents or grandparents that own property - something that has been passed down through generations and which will be passed to them in time. Otherwise I think the German state pension pays something like 50% of your final income... enough to downsize and continue renting comfortably. The whole thing will implode soon though as they can't afford to continue that level of payment with an ageing demographic.
  9. "I would buy this place in a second, knock down this wall, convert it into 2-beds, make a £15k profit right there. If you've got a deposit to put down you can't go into negative equity anyway so there's nothing to lose. How long do you want to be paying off your landlord's mortgage?" "Yes, house prices do look overvalued at the moment, but then is it better for prices to go up or down? Up right, because then everybody's making money." But the majority of people I know think that a correction is needed. One even had views that correlated well with some of the discussion on this site, although he'd never heard of the place.
  10. Austria looks good. No price changes there, ever.
  11. She's billed as a "property expert" but her link on the Radio 2 website is for her dating website. Let's see what she talks about... [...] Right... it's about dating. Nothing to see here, move along.
  12. I'd expect it's also to do with equities having had a good run since 2003 (regardless of BTL). 3 years of momentum is enough to convince the masses...
  13. I like BestInvest as a source of information - they have decent info on all the fund managers, include a pretty cool utility that helps you to balance your portfolio, and seem to be heavily involved in the VCT scene. Anyway, I just noticed these two articles (from February so they're not newsworthy enough for the main forum). Thought you might like to read them. Repossessions on the rise US interest rates pull alongside UK Edit: Unfortunately their website is a tiny bit unstable at times. Patience.
  14. I've also thought about this on and off. The question is whether to take the MBA plunge... thus far I've managed to convince myself that the benefit I'd get out of it is not worth the cost of doing it (~$100k plus loss of income). I think a lot of MBA's were completed during 2001-2002 after the tech crash, devaluing the qualification. By doing an MBA I could end up even more on the treadmill than I am at the moment! Gah, I think I crashed my laptop. Any IT techs around?
  15. Try calculating the number of pound coins you can fit into the floorspace and divide by 1000. That's your weekly rent. In areas other than London you may need to use different coinage.
  16. I've never had an annual pay rise. My highest pay ever was when I was 23, working in California pre-dotcom bust. Since then it kind of floated around a similar area, but never went higher.
  17. Many of us don't remember that period (economically) as we were in school. Life was easy...
  18. Yes, the cash needs to stay inside the wrapper. If they pay it out to your bank account it's ex-ISA and you can't buy back in. Check with the provider when you make position changes to ensure that you both know what you're doing.
  19. I only have 1/2 of one ISA in ML Gold&General at the moment, having sold off the larger non-ISA part earlier this year. My aim is only to cover the cost of my rent, locking in those profits as I go (and to avoid CGT). Well it works for me....
  20. Heh, as I said, everybody is different. Some people are looking for a home now, others are looking for better opportunities to ride out what they see as a bubble. I for one appreciate all the economic insight posted on this forum - although by no means do I take it as gospel. Everybody has to make their own decisions.
  21. I don't care, I'll be living in a bigger place. Don't you think that 4.6% (gross) is close to sod all? I'm only covering an IO mortgage! Far better returns elsewhere...
  22. Different people, all of us. Personally I like renting. My 1-bed rental flat is up for sale at £300k; a friend that came round last week said he would buy it for asking in a shot (if it weren't for my tenancy contract). He wants to buy a place, doesn't care about the direction of prices just so long as the location is right. That's fine and good luck to him. He has his strong opinions, I have mine. That's me exactly. My friend can't understand why I would "throw away money on rent" but admits that he doesn't know the first thing about money or numbers (despite having a £100k income). He feels I think too much.... So to the OP, if you feel like this then why didn't you stick to your convictions? Stop thinking so much and buy some place to make yourself happy. Many here are also not materialistic but simply do not want to pay over the odds; still others can't afford to buy full-stop. Everybody is different. Just do what you have to and get on with your life. In fact the EA is in my flat as I type this, showing around my prospective new landlord. Interesting situation. :-)
  23. Bar stewards? Or am I behind the times on post-modern rhyming slang?
  24. The floorplan reminded me of that one too, but the photos didn't ring any bells. Maybe there are lots of them? Westminster is also a good place to find 'cosy' flats. As you can see from the photo this one is a "magnificent architecturally designed studio flat [...] with raised sleeping area with workstation underneath". I'm sure the "hidden lighting to provide the right ambience" contributes nicely to the overall Tokyo love-hotel feel. A snip at twice the price.
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