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busta move

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    Canoe polo, rock climbing, Kung Fu, playing the guitar.
  1. I think that boom and bust is always going to happen unless you prevent it with very draconian legislation. The big problem here is that you really want to be saving up money during the good times to help you get through the bad times. GB has been borrowing lots of money (and encouraging Joe public to do the same) during the good times so we've got nothing to fall back on when there is a recession. Oh dear!
  2. Seems that Interest rates are on the rise globally. Will this have any effect on our interest rates? Maybe not directly but it must be a sign that there are global pressures for upwards IRs. Even Japan are starting to put rates up!
  3. Great in the sense of large (like in Great Dane) rather than in the sense of good.
  4. I also heard him Radio 4 this morning saying "FTBs are coming back to the market, perhaps because they are realising that buying is cheaper than renting!" I'm furious that he got away with saying that. A house on my street recently sold for £210K. I'm paying £750 pcm rent on the same type of house. The interest payments alone on a £200K mortgage are £833 and that's calculated at 5% interest.
  5. The only way we'll get a sensible economy is without short-term fixes and gimmicks. Unfortunately, this will never happen in a democracy because the government can never look past the next election. I have long since given up all hope of an ideal world with sensible politics. Since you can't beat it, you might as well join it which is why we see so much "glee" at the impending possibility of a house crash.
  6. Two up, two down style end of terrace in NE Kent @ £750 pcm
  7. I don't think it's so much a case of him winning as Labour losing. Still, John Major managed to hang on in there for one more election after the economy went Pete Tong last time so perhaps Brown will have his moment of glory after all.
  8. Unless she's working part time in Tesco because, having made her millions in investments, she's retired and fancied doing an "honest job" just to keep her busy!
  9. Such a shame that we still don't have any credible people to vote for. About the only person I know of in the house of commons that I would actually like to be PM is Borris Johnson and that's only for a laugh. Is it any wonder that people are so switched off to politics these days?
  10. Sadly, only 1. I've "reasoned" with quite a few more but it seems that sensible argument has no sway in these times of madness and quite a lot have chosen the last year to buy their first homes! I don't think they'll fall into the negative equity catagory as they all had quite large deposits but it is sad that they are all getting so much less for their money than they should be able to.
  11. I'm increasingly enjoying renting. I think so much of it depends on your landlord. My current one is very good. I happen to know that he has no mortgage on the house so I've no fears of him chucking me out for any reason. He fixes stuff when it breaks. The house is well-enough decorated that I don't have any burning desire to paint anything or re-install anything. He doesn't mind us putting up stuff on the walls so about the only thing I can't personalise about the house is the paint, carpets and fittings and they're all fine anyway. For those of you that are renting and have a burning desire for a change of decor, he's an idea: just move house! It'll be less hassle and cheaper. I was talking to a friend of mine who has recently bought. He was saying how glad he was to have his "own place" at last. Problem is, it's not his own place because the bank owns most of it, he's had to rent out two rooms so that he can afford the mortgage and he is spending a lot of time and money doing it up because the decor was so bad. I can't work out how that is a relief to him but good luck! I plan to buy when the prices are sensible but we're saving money at a good rate and I'm not scared of the idea of renting until we retire (we're still in our twenties) if the market doesn't go back to sensible because we'll have enough savings to buy a house for cash (even if we have to move abroad) or live off the interest.
  12. I quite agree. If you can afford to live in your house then stop thinking of it as an investment and try making money in an honest way! If only people had this attitude in the last 10 years then we wouldn't be in this over-inflated market in the first place. I don't want to make money at other people's expense (even if their greed does make me think they deserve it). I just want to be able to buy a sensible house at a sensible price. It's not an investment, it's a place to live.
  13. I agree with you. The funny thing is that, when house prices rise, people feel richer when actually, a lot of the time, they're poorer. Unless, you're lucky enough to jump off the property ladder and cash in on the rise in prices, all bigger house prices mean is that you've got a bigger mortgage and hence less to spend. The trouble is that people don't seem to realise this and it takes them a while to realise that they're spending more than they should and then we get the hangover time where spending is low and bankruptcies are high.
  14. Sounds like you don't fall into the over-stretching-like-a-nutter category. I don't think your purchase will be a good investment financially but that's not why you’re buying it anyway so my advice (not that you need/want it!) would be to buy the house, and then forget about house prices for ever. As long as you don't lose your jobs then why should you care? If more people paid no interest to the investment-potential of their houses then we wouldn't be in this mess with house prices in the first place. I do hope you are planning to severely over-pay on that mortgage though. Otherwise you may as well just lube up and grab your ankles with the amount they'll be stealing from you in interest.
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