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Guest The_Oldie

Merryn On Money:

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EVERYWHERE you find a property boom you will also find a nation that hates to rent — a nation that thinks renting is a waste of money, that rent money is “dead money”.

Look up the phrase “dead money” on the internet and you will find it in every discussion of a property purchase by a first-time buyer — “everywhere we wanted to buy was a bit too expensive … we had to really stretch ourselves, the house isn’t quite what we wanted … but it is better than renting. Rent is just dead money.”

//

You see it all over the television, too. Last week property experts Kirsty and Phil on Location, Location, Location were trying to get a young couple out of (very nice) rented accommodation into a (quite nasty) “home of their own”, the monthly payments on which would be higher. The couple, we were told, had come to realise that renting was tantamount to “paying someone else’s mortgage”, and that was “madness”.

There is a downside to buying, Kirsty told the pair. It brings sacrifices. If you move from renting to buying you can find “a real drop in your standard of living” as it can be “impossible to replicate the space” for the money.

This seemed like a whopper of a downside to me, but as far as Kirsty was concerned it was a sacrifice worth making: like most of the UK, she clearly believes that being on the property ladder is desirable in itself

== == ==

great article!!

Don't join The Morg, and sacrifice your future freedom, and become a slave to bank interest payments

Edited by HollandPark

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she's not very complimentary about Kirstie and Phil Spencer:

"I’m pleased to say that Kirsty and Phil didn’t manage to find a house for the renting couple mentioned above. (Actually I’ve never seen them successfully find a house for anyone, although they’ve been on the air for so long now I’m sure they must have.)"

K&P must have joined The Morg years ago

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There is a downside to buying, Kirsty told the pair. It brings sacrifices. If you move from renting to buying you can find “a real drop in your standard of living” as it can be “impossible to replicate the space” for the money.

I have developed a quite irrational dislike of Kirsty & Phil over the years, if there are a couple of people that make turn on the ole XBox and "shoot" people they are it.

I guess it's the sanctimonious preaching of Kirsty, what does somebody like her, with loaded parents willing to purchase her property actually know about most people trying to get on the ladder?

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She makes her money, charging people she "helps" finding a place to buy.

If people become too cautious, she will lose business, i suppose.

maybe this is why she is always encouraging people to buy.

I think she wrote a book last year with the same message

why are people like Phil & Kirstie on Television rather than people like Merryn

who have something sensible to say?

Edited by HollandPark

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Nice article.

If your parents, relatives or workmates are (like mine) always asking "when are you going to buy?" - or saying things like "You don't want to miss the boat." - this could be the article to put them straight. I might cut it out and post it to my parents.

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OMG!

For a moment there I thought I was reading an article in the The Times that said it wasn't a good idea to buy a house... :blink::blink::blink:

Oh, wait a moment.........I did..... :blink::blink::blink:

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Kirsty and Phil have relentlessly promoted house buying in the middle of what appears to be a massive house price bubble. I wonder how many lives will be wrecked and I wonder how Kirsty and Phil will respond to distraught homeowners in years to come?

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I have developed a quite irrational dislike of Kirsty & Phil over the years,

Surely that should be rational ?

Why C4 give this pair so much airtime pushing their "advice" is beyond me. They are neither independent nor experts. They run a business which is directly affected by the sentiment/performance of the housing sector. They seemingly can get away with "advising" people to make quite foolish investment decisons (a la Alexia - L*3). If this was any other sort on investment (Pension, investment trust, financial product) the regulatory bodies would be down on C4 like a ton of bricks (excuse the pun!).

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quote Merryn

If you rent instead, you can save your £5,000 a year and put it towards buying a flat when prices have fallen another 20% (which they will).

We've been saying that here for the past few months but its nice to see it repeated in the property-ramping Times. (BTW 20% now seems a very conservative estimate)

Good on yer Merryn. B)

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So why on earth would you buy one? It’s a very expensive way to put yourself “on the ladder”. If you rent instead, you can save your £5,000 a year and put it towards buying a flat when prices have fallen another 20% (which they will).

Anyone disagree if we nominate MSW as the mascot for HPC?

Perhaps she could be given honorary status on the board?

One of the few people in the general media who is actually talking sense.

(What really p!sses me off is in 2 years time when the whole market is crumbling, the people who are still talking the market up (Kirstie and friends) will be telling us "that of course houses were overvalued, everone knew that blah blah blah.)

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As it happens I totally agree with her take on the market.

But lets remember it is "her" take like "Kirtsty and Phil " have their take. Albeit the latter's is based on nothing more than "self interest" where as hers is based on logical though maybe subjective interpretation of economic data.

Only by testing opposing views via research can the truth be gleaned from the welter of misinformation deliberately put in the public domain with the clear intent of clouding the reality of the situation.

So we need to get the message out there, come to HPC were you can evaluate both sides of the argument.

Our task is to educate not indoctrinate.....power to the people ....power to HPC :ph34r:

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You know the times has a "send to a friend" button at the bottom of the article!

The icon that looks like this:

print_icon2.gif

You could always send people this article.... ...go on!

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If people become too cautious, she will lose business, i suppose.

maybe this is why she is always encouraging people to buy.

I think she wrote a book last year with the same message

Do you perchance mean "How to Buy a House" Spencer & Allsopp, 2004? Well, I just so happen to have a copy of it right here. A few choice quotes:

"Be very, very nice to estate agents ... We realise this is a revolutionary concept"

"Home buying isn't all bad. It's like having a baby."

"... when faced with a spreadsheet I want to weep"

"no sooner does a single man purchase a property than he has a girlfriend ... there's nothing more attractive to a woman than a man of property."

"They [ solicitors ] make teenagers in love look sensible"

"it's essential to keep everyone on their toes and leaping around like the cast of Riverdance"

The hypothetical scenario about wanting to pour cold coffee into the radiator of an estate agent's flashy car was quite a good read.

Actually to be fair, the book does have some plus points, especially tactics to keep the whole process moving along (Riverdance excepted).

Oh and they did have one erudite financial insight: "Opinion is always divided as to whether the market will go up or down"

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"no sooner does a single man purchase a property than he has a girlfriend"

Haha.  Does she want the man, or a cheap way into the house?

Believe it or not we actually discussed this in great length on a thread a few months back. I think it endedthat each male poster who believe it was true had deeply misogynistic views ( dont worry i had to look that f*cker up to) basically women-bashing.

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Guest Bart of Darkness
LOL, Kirstie is now trying to use sex to sell houses, that must be the last, desperate, tool in her box

If she needs a desperate tool in her box, she can have mine. ;)

Someone needs to do to her what she's been doing to us.

(non-property owning single bloke BTW :P )

I'll get me coat!

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  • 336 Brexit, House prices and Summer 2020

    1. 1. Including the effects Brexit, where do you think average UK house prices will be relative to now in June 2020?


      • down 5% +
      • down 2.5%
      • Even
      • up 2.5%
      • up 5%



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