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House Price Crash Forum

Soul Reaver

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About Soul Reaver

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    HPC Regular

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    Permanent Traveller
  • About Me
    Sailing, Golf, fast Cars and loose women :)
  1. Soul Reaver

    So It's That Time

    Bankers! God forbid No I'm not saying the bottom has fallen out. I'm saying we live in uncertain times both job/career wise and large purchase wise and it's a difficult decision. Buy here, move to Dubai. My guy feeling is this. Interest rates will rise within 2 to 3 years and it will be gradual and inexorable. All the over leveraged (probably 50% of Uk mortgage holders today) will gradually be screwed right out their front doors just like in the 90s. Interest rates are merciless once they start. The politicians will ring their hands but nothing will be done. Anyway we decided last night that we are going to continue building our pot and investing in small business and move to Dubai next year and start a business there. I honestly only see this country getting worse and worse over the next 20 years as I approach retirement More people Worse services Worse roads More crime Can I mention the weather? Can I add in here that my gut feelings over the past 6 years have been known to be quite wrong LOL
  2. Soul Reaver

    So It's That Time

    Thanks. You hit the nail on the head. Yes we do save 10 to 12k a month and it is that that made me realize how MUCH 50 grand is let alone 250! People roll these numbers off their tongue like they mean nothing. It also a bit more complex in that my career has mainly been in Europe for 13 years with a spell in the mid east. I used to do a weekly commute with the red eye flight on a Monday morning at 6am. So we have always put off buying because I had an apartment and was only home at weekends. We both contract in IT. Over the years my industry has been steadily taken over by Indians who now sit at all the desks in the Uk (floors full of them) and Europe where my mates used to sit, the rest of the work is sent to India. Switzerland was a classic. When I started there were 4 Indians and when I left (when my job was taken over by one of them) There were 200 of them on one floor! Munich was the same as the whole of 02 was outsourced to Wipro and has not come back, that was over 200 jobs for contractors gone. We only survive because we have such strong CV's between us, but we are also only 4 weeks away from notice and then not getting that next contract as there are fewer and fewer. We are investing in other businesses for the day when that last contract comes or the rates get silly low to make it not worth my while putting up with the office ******** anymore. PS No I don't work in motorsport I just enjoy it but golf is way cheaper LOL
  3. Soul Reaver

    So It's That Time

    Double whammy but yes you're right. I was so **** sure we would have a massive 50% crash and I would step in a buy the dream home for a song. WRONG!
  4. Soul Reaver

    So It's That Time

    Funny that as I have not looked at rentals before but there are TONS of them! Really nice houses too. Makes me wonder where the owners are.
  5. Soul Reaver

    So It's That Time

    We don't have a problem we have a choice I find difficult. There is a difference and I like to be measured.
  6. Soul Reaver

    So It's That Time

    Last wife had Horses NEVER AGAIN
  7. Soul Reaver

    So It's That Time

    You know I thought once that when I get to 5k a month ill be so rich all my problems will be over etc etc. It's a fallacy. As you earn more and you learn and understand how HARD it is to make lots of money value becomes more important, security also becomes more important because you don't want to have to go through the dreaded re-set. You say "even if you lose 250k on your dream home" as though nothing else would have happened in that scenario! Our jobs would also have gone too. Our jobs and lifestyle (I race cars and am part of a team) would go in a downturn like that and then we would be left with no money coming in but a big house to service. If we don't take on large debt like getting the dream 1 mill home and having a 500k mortgage for example then even if that happened we would have other opportunity's and no large stress. Were not tight by any means. I spend 2k a month on motorsport minimum every month and last year my yearly costs were over 30 grand but we do everything cash so its affordable. Debt worries me.
  8. Soul Reaver

    So It's That Time

    Yeah lol. This is actually quite good value for how nice it is. 2.5k a month this one. http://www.rightmove.co.uk/property-to-rent/property-28219674.html
  9. Soul Reaver

    So It's That Time

    Like this one? 4k a month http://www.rightmove.co.uk/property-to-rent/property-39657715.html
  10. Soul Reaver

    So It's That Time

    Wife likes it I have a very different view as my last job was in Bern for 3 years and apart from the Swiss being rather boring the standard of living is excellent. Being 45 mins from the Eiger makes life very pleasant you know.
  11. Soul Reaver

    So It's That Time

    Wifey sees it as dead money and not value.
  12. Soul Reaver

    So It's That Time

    We do VERY much enjoy life but partly because of this site it sticks in my craw to pay a sniveling "home owner" (laughable term) 200 grand over what he paid for a place just because he is a sniveling "home owner" and he put some strategically placed sticks in the living room. If we bought our dream home at say 800k to 1 mill and then took a 25% hit that's quite a lot of money even for us. At 400k it's not so bad but still quite a lot. My main issue is that I really did believe in the crash, a big one! And what did we get? We got a damp squibb didn't we! Be just my luck that I held out this long and then buy and then it all kicks off LOL.
  13. Soul Reaver

    So It's That Time

    ha ha good answer. Made me smile. Bit more info. We both work in and around London. I used to work in Switzerland but have since come back. We live with her sister in Slough and don't want to buy anywhere near London as we both see houses there as poor value and overpriced. If we buy anywhere else in the country (we look between Northampton and Peterborough down to Luton in a triangle) it becomes a weekend home as we work in London and we still live with her sister in the week. We both loathe long commutes. I favor just f-ing off myself as let's face it the standard of living in this country is very low compared to other places I can think of, have lived in.
  14. Soul Reaver

    So It's That Time

    Wifey god bless her is talking more and more about A. A baby B. A home Options on the table are as follows 1. Buy home here, nothing too extravagant 400k tops 2. Stay with her sister and wait, a bit (being doing that for quite a few years now I might add)!! 3. Pack up and move to Dubai. A place we both enjoy a lot. Rent somewhere nice or buy and start a business in the sun. We are relatively cash rich netting about 20k a month so we save quite a lot. What do you think?
  15. I heard this on the radio and it pricked my ears up. I wonder how long it will be before we start to see inexorable, merciless interest rate rises then. God the over leveraged have NO IDEA what's in store once that starts.
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