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look9001

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About look9001

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  1. Thanks, that's pretty much the same as my thinking. A 4 x salary mortgage monthly repayment comes in at much less than I pay in rent for an equivalent apartment already, so if a nice apartment came up tomorrow I'd probably buy it. But I'm in no rush.
  2. Not at all. House prices are down 11% in Madrid in the last 12 months. http://www.pisos.com/preciosmedios/preciosmedios/ It very much depends where you go and when. A few years ago La Latina (popular area for going out in Madrid, lots of bars) would have every bar full every night of the week, these days it's busy on Saturday nights but the rest of the week it's pretty dead. The bars are open but empty except for a couple that have cheap drinks on offer. I asked about getting a mortgage a couple of months ago, Barclays Spain told me I could borrow four times my salary without any problem as long as I put down at least 20% deposit.
  3. I quite like Grand Designs when they show someone doing something interesting, different and impressive but to me last night's was none of these things. Far too often these days it seems to be about showing how rich people choose to spend their money, there's nothing interesting or clever about that. If I had £800K to spend I think I could manage to choose a top of the range kitchen. As for the tap it had an air of that Harry Enfield sketch, 'And what does your husband do?', 'he's an industrial architect', 'Oh well usually this tap is £10 but I think I saw you coming didn't I? So let's call it £1000' Also I'm not a big fan of open plan living, how the hell do you get away from the kids when they are running riot? And missing a wall from the bedroom like that is just weird, for obvious reasons.
  4. You're not comparing like for like. Mortgage terms can be shorter than 25 years and are likely to be cheaper than a personal loan. So in your example the mortgage term could be 5% for five years, instead of the car loan at 7.5% for five years. OK?
  5. So is anyone going to stick their hand up and admit to being Mr Average and agree that they are stuffed? Or are we all a lot smarter and sailing in a different boat?
  6. Glad we bought whilst we could still afford to, just completed on this three bedroomed beauty
  7. As it has done for the last five years or so.
  8. Well I was going to suggest skateboards, roller blades and rocket packs but wheelchairs are good too.
  9. There really should be a lot more rioting going on. We in the UK are much too apathetic these days. The mid-twenties population who are priced out should definitely be kicking up more of a fuss, shouting and breaking things on a regular basis. But alas, a few grumbles on the internet is all I see and they are far too easily ignored if they're even noticed in the first place.
  10. So you are happy that you are 5-10% of the value of your property worse off?
  11. I read this today, it's not exactly an article that says it's a good idea to STR though it it? 'But experts warn that homeowners who decide to rent in the hope of making a profit are taking big risks. House prices need to fall by about 4% to make it financially worthwhile, according to Knight Frank. For example, it calculates that you would pay £36,100 more over a year to rent a house worth £1m than you would to buy it. The figures assume you have £500,000 equity from your old home so would need to take out an interest-only mortgage of £500,000. They also assume a mortgage rate of 5.75%, rent of £865 a week and that the equity is invested in a savings account paying 5.95%. Prices would have to fall by at least 3.6% a year to make it worthwhile. If this happens, the property worth £1m would drop to £963,900. Most analysts dismiss talk of a crash although they do expect price growth to slow. Diana Choyleva at Lombard Street Research said: “It is unlikely there will be a crash similar to the one in the early 1990s, but we think there will be a correction next year, with house-price growth falling to 0% in 2008.” Even in areas where the market is weaker at the moment, widespread falls are not expected because underlying fundamentals remain robust. '
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