Spongethrower Posted June 13, 2010 Share Posted June 13, 2010 I generally agree, it's the biggest purchase of your life (for 99% at least), you study the market, the situation. People who see a house as a quick money making scheme are parasites. Largely, they are tolerated by society. I saw a sickening bit (before switching off) of Location, location, location today and marked that Krusty was still spouting the same HPI mantra - stronger than ever! No new houses being built, 350k for a crappy terraced house seems reasonable - blah blah blah. What is missing is closure on all this nonsense. I told the Mrs' to go out and buy an Aston Martin with the deposit we have for a house. I was serious too. I imagine second hand prices are somewhat deflated, she'd have a car shes' always wanted and the depreciation couldn't be any worse than letting it sit in the bank or see the value of a house plummet with a HPC. Quote Link to comment Share on other sites More sharing options...
Si1 Posted June 13, 2010 Share Posted June 13, 2010 you said small, not negative my bad - small nominal yield, negative real yield And that isn't the heart of the matter anyway. Obviously, if you are forced to rent because prices are high, high prices are inflicting a cost on you despite a landlord's poor yields this is just incorrect The benefit to his asset value caused by your taxes and production. still not explained this Quote Link to comment Share on other sites More sharing options...
Har Fast Posted June 13, 2010 Share Posted June 13, 2010 Not to the ends of the earth - just to the local county court where you file for bankruptcy. You're completely debt-free in minutes. Let's face it ; if you've lost your house then there's nothing to worry about in going bankrupt. Your credit rating isn't going to be any worse and you lose all the credit card debt to boot. The key is to organise a rented property first. Yes, I think one of the things to look out for in the next few months/years might be a tightening of the bankruptcy rules, basically to try and protect banks' balance sheets from mortgate default followed by bankruptcy. Quote Link to comment Share on other sites More sharing options...
Stars Posted June 13, 2010 Share Posted June 13, 2010 (edited) this is just incorrect Oh right Is that why most people, given a free choice, would choose to pay rent to a landlord their entire life? I wonder why anyone buys a house Just because the landlord's yield is negative or small, doesn't mean the cost of high house prices isn't falling on you. still not explained this Your taxation is used to provide services the value of which compound into rents and the price of real estate Edited June 13, 2010 by Stars Quote Link to comment Share on other sites More sharing options...
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