AgeingBabyBoomer

Interst ony. mortgages are not magic - you only pay the interest, effectively renting from the bank. The 'magic' lies in capital appreciation, and the ability to realise the gain to pay down the principal. All in all a big gamble, based on betting on yesterdays winner. It makes financial sense only when it is a repayment mortgage, and that the amonut borrowed can be paid off with less than a lifetimes wages. Right now , yes. ABB

Isn't the problem here that we are tarring each group with the same brush? Boomers - greedy seflish beneificaries of good social conditions and economic growth with all the wealth now 'Young' generation - binge drinking no-marks, who pi55 their money up the wall, and desire nothing more than the latest IPOD? Neither is true. My experience is like munro's. by date of birth, I am a 'boomer', something for which I have been attacked here. Unlike my siblings, who have benefitted from HPI (though they don't realise it), I am aslocked out as people 20 years my junior. (Sure I could buy a cr@ppy conversion in cracksville, but that would just exacerbate things for myself and everybody else) The ultimate criminals are our political and economic leaders who have engineered this situation. ABB

Of course you are, sleep well. It's 2:40 AM now ABB

I'm an undercover tax inspector - we work funny hours ABB

Hmmm, who needs to get a life now? ABB

Redrow admitted an 8% drop in new build prices, Wimpet 4%. I think enough buyers would have realised this that EAs need to be seen to match in the resale market. Persuading the vendors would be easy, who would want their house to be left on the shelf without a reduction marked on it? - particularly if it has been on the market for a while. there also could be a post no-Sipps glut of stuff on their books... ABB

No, bricks and mortar have not gone up 150% in the last few years. Land has gone up more, much more. ABB

Well, i was brought up there - there are large areas with 2/3 storey late victorian seims and large terraces that can easily have 4/5 beds. Equally, the same money can get you a two bedder in a somewhat nicer area...just depends on the suburb. IIRC the west side of Nottingham is the less desirable (on average) ABB

Firstly - your decision to avid flats in Nottingham is a good one - they are crap, overpriced, and in oversupply. (Last time I was there it seemed like the entire Lace Market has been converted to flats, and they are still building more). 109k coudl be a good deal, it really depends where it is. Avoid Beeston - crime central! It sound slike you knw the owner - you should find out how much they paid for the property,and what improvements have been made. the fact that it has been reduced would indicate the market is falling, this type of property is very popular. I wonder how much of the 'interest' is being invented to try and force your hand. It would be usefulif you could tell us a bit more about location and type/age of the house. Also, (assuming your salary is half the total) have you considrered buying it outrightyourself, and renting space to your friend? It simplifies things a lot when you come to move on. Lack of a deposit will limit your options, though saving £5k or even £10K would help you a lot. ABB

Perhaps you are assuming that everbody here is interested in property investing. One or two might just be interested in owning a home. Living in europe and working in the UK is, well, a bit of a commute ABB

Personally, I wouldn't buy at all. I would get my head down, save hard, when you have about £150K stashed, find a lesser job away from stressful, shitty, expensive London, and walk into a home somewhere nicer with little or no mortgage. ABB

brainclamp, That is your most coherent and reasoned post on the subject of imigration that I have yet read. I still don't see their impact on HPI, as the numbers required to change the current UK demographic to a younger baby boomer profile, as would be needed to maintain the pension system,would be in the 10s of millions. However, the effect on wage inflation cannot be doubted, maybe HPI is, as I suspect, a trojan horse for real inflation, or conversely, devaluing the currency to hide the drop in real earning power.... ABB

The trial was pretty tacky as I remember it - though I was nly a nipper. There were widespread rumours of a fit up (for Thorpe), I never knew about the Jack Straw angle.... ABB

Troglodyte living, the next 'in thing' ABB

Joking aside, the guy deserves some respect for at least speaking against Iraq, and for generally doing a better job of opposition than the opposition. Shame the electoral system didn't give enough seats to make a real difference. ABB

My guess is the instigtor will end up being the next leader, so we will haveto wait and see. The Libs are a bit scandal averse, they outed Jermey Thorpe for being outed. IIRC there were dead dogs involved - not very pretty. Heavy drinkers in the PM slot are nothing ew, Winston Chrchill was barely sober for most of WWII. Didn't seem to do us or him any harm ABB

There is a new subforum where you can ask to be reinstated at top of page - apparently there is a bug in the server soft somewhere... ABB

I remember apom chasing the FSA over mortgage fraud, surely this is 'invesment misselling' those returns come nether wit gurantee, nor warning. If they replaced the countires with unit trusts or pension funds, then FSA regs would apply. We all know people are using these instead of pensions ('cos they were the last big ripoff scam). Just a thought ABB

Out of interest, and risking flames myself, but was the problem that acute? Although I had noticed a rise in wind uppy 'You smell of poo' type posts, I took this as a good sign, you know- the deinial turning to anger phase. I hadn't noticed any drop in server performance, and to be fair some of the regulars here ,were perhaps a little over keen to out 'trolls', who tuned out to be largely innocent newbies (I realise at tihs point that I cannot see what you guys see, but that was my impression) I can understand the annoyance of some who were inadvertently exlcuded from posting. Just curious... ABB

Indeed, Decembers figures will make muchmore sense, though I'm sure they'll be waved away because of Xmas, irrespective of the YOY comparison ABB

Opinions? They don't do 'opinions', they just report the facts as they are presented to them, no questions asked. ABB

Well, I hope you are right, it might bring my stock options above sea-level again ABB

Oh but I do - hence I haven't bought yet Perhaps property might become afforable as a result of just afew years heads down hard saving - little or no mortgage required. What I really meant twas that things are stacked squarely in the lenders favour relative to the other parties involved i.e. buyer, and seemingly surveyor - who seem only to get sued by lenders (who can afford to pursue it through the courts. Whilst they carry the bulk of the financial liability, they rarely seem to lose hand over fist. Well, building costs have risen roughly in line with inflation - the problem is land. Costs and risks could be simultaneously reduced by reforming the way land is priced, but that is a whole other debate... I don't expect to own a home for free, but wouldn't mind if I could buy it with less than a lifetimes wages, and without the 'extras' like mortgage indemnity, employment protection etc, etc ABB

Absolutely - new builds have lead the market up, as they fall, old builds will have to follow ABB

True, but once you've MEWED the 80% or whatever the limit is, without further value rises, your 'credit line' is all dried up. ABB (Rereading that it ihas awful druggy undertones )