Drummer

For a house £570k it would need two people earning 50k each + £125k of deposit. If just one person, then be needing a salary of 95k + £150k of deposit. It's a crazy market out there.

I have just gone on rightmove and picked a random place in Wales - Wrexham. 4 bed detached house. It looks reasonably tidy to me. For sale at OIEO £270k. https://www.rightmove.co.uk/properties/122903645#/media?channel=RES_BUY&id=media14&ref=photoCollage Needing a near £200k salary to buy an "ordinary house" in Wales just isn't true. 2 people on £40k salaries with a £50k deposit can afford that easy.

Now that inflation has picked up and looks set to continue, there is the opportunity for a crash in real terms. i.e. nominal houses prices stay well below the inflation of other asset prices and wages. Politically this is far more palatable our masters, as people tend to view the house as worth £x rather than a multiple of salary. Maybe the time is now.

I recommend HPCers to watch the tour videos on youtube. Part 1 & 2. It's "Producer Michael". The videos are set up to be earth shattering journalism on a spectacular property but ends up being an accidental parody on everything that's wrong with Los Angeles culture.

Sure, I mean, what could possibly go wrong?

No rise. They will sit on 0.5% for a while.

I was looking at this earlier today. BoE base rate history Base rate moved from 5.5% to 0.5% inside 16 months. Rapid movement, almost unbelievable really. Particularly in the context that the next 13 years it has remained at 0.XX%!

Will be nudged up by 0.25% to the heady heights of 0.5%

It's near to the Hampstead area of London which is of course very well sought after. The bed is in an "interesting" location. I do look at Londoners and think how crazy they are paying these prices but at the same time I totally understand the pull of staying near friends & family etc.

Just had a nosey at this. All the mortgages this relates to with a mortgage term over 25 years has an interest rate of at least 3.5%. Product fees are over £2k, unless you fix for 10+ years. We need a new Northern Rock don't we?

I would definitely consider retiring out there. I think the cost of living in the USA is much cheaper; however, the lack of NHS means the cost of dying is far more.

USA looks a good on that list

On the flip side, longevity is up so just work for longer.

The low volume will hit them but their income is somewhat diversified as many EAs make their dough through lettings fees these days.

Am I reading this wrong or is this "fall" just us reverting to the mean for the period 2014-19? Nothing to see.....yet

Im renting privately off the bank for the next 29 years, then i'm a free man

Turkey is the gateway to Syria. It's cheaper to join ISIS now.

Good for those going over for a hair transplant or to get their teeth sorted out

Looks like the ideas discussed here have made their way on to pistonheads https://www.pistonheads.com/gassing/topic.asp?h=0&f=206&t=1959502 TCON, take a bow. You are a multi-forum hero. You have peaked - there is nowhere left to go from here!

Has anyone here bought a car in the last 12 months? The cars I have been monitoring (bmw, audi - 1 year old) have had prices increase by at least 17% in the last year. Crazy inflation. Not sure how this fits in if/when interest rates start to move up. Is it people driving prices up due to the furlough money still sloshing around? Apparently its the shortage of computer chips. It strangely echoes the housing market round our way too.

Behave. Government props ad infinitum before it gets that bad.

because prices only ever go up, might as well

£10,900pa after housing costs is very do-able.

Keep the properties you will live in/use. The ones you won't visit (Ireland?), sell and top up your drawdown account or invest similarly using S&S ISAs (subject to allowance limitations of course). The times I have read on here about people selling to rent and I wonder how many have actually been better off financially for doing it. I suspect very few.

If it's the right deal for you, go for it. Prices have edged up around 5-7% around here over the past 12 months despite the pandemic.