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Questions On The Uk Housing Market - Guardian

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Have a look at live clinic and read the comments section. Maybe one person in ten is indicating, to me, that they actually understand basic economics and personal budgeting. Left me quite depressed at how the masses will for ever be ripped off....

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Some select quotes:

'I guess the question is it best to aim for a sizable deposit or take the plunge with first time buyer initiatives like shared equity etc? '

'My mother thinks it is vital that as soon as I sell one property I should buy another so as not to lose my place on the housing ladder. She thinks that since I am not ready to buy a place to live in, I should buy to let instead.'

'We have just sold a property in London for 248k and received a nice profit'

'Hi - I've been quite lucky and managed to jump on the property bandwagon at the right time. I don't earn a significant salary but it is more than average and all my savings are in property. We've recently had a baby with another on the way so are now living off of one salary'

And it goes on and on. Idiots one and all. Stretching themselves to the max, taking out BTLs and as soon as they feel safe with one, rather than pay off the place that they live in as soon as possible (which is what I'd do), they put another 10% down for another place.

COMPLETE IDIOTS.

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When I worked out that I could get a mortgage to buy a flat, but then couldn't afford to live in it and would have to rent it out to pay the damn mortgage, I figured something was wrong and ended up here.

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Have a look at live clinic and read the comments section. Maybe one person in ten is indicating, to me, that they actually understand basic economics and personal budgeting. Left me quite depressed at how the masses will for ever be ripped off....

Some of those people are such R-Tards, it just beggars belief.

Moooooo.

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I have a northern rock dodgy debt 100% mortgage, I'm paying over the odds based on my credit rating 6 years ago. Where do I stand on refinancing my current property- my property is worth about the same as it was when i bought it. No equity....

Answer: You'll continue to rent your house from the bank at high interest rates and probably never make inroads into the debt you have signed up for. You require an immediate full frontal lobotomy before you do any further damage. You spaz.

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I was trying to explain to an EA the other day that on her salary she cannot afford to buy a single house that she is marketing.

I think after several months of trying the penny is beginning to drop.

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Some select quotes:

'I guess the question is it best to aim for a sizable deposit or take the plunge with first time buyer initiatives like shared equity etc? '

'My mother thinks it is vital that as soon as I sell one property I should buy another so as not to lose my place on the housing ladder. She thinks that since I am not ready to buy a place to live in, I should buy to let instead.'

'We have just sold a property in London for 248k and received a nice profit'

'Hi - I've been quite lucky and managed to jump on the property bandwagon at the right time. I don't earn a significant salary but it is more than average and all my savings are in property. We've recently had a baby with another on the way so are now living off of one salary'

And it goes on and on. Idiots one and all. Stretching themselves to the max, taking out BTLs and as soon as they feel safe with one, rather than pay off the place that they live in as soon as possible (which is what I'd do), they put another 10% down for another place.

COMPLETE IDIOTS.

But for the 14 years from say 1994 to 2007 these would be the smart people who followed precisely the right strategy. It'll take some time for thinking to adjust, and for people to realise that what was once absolutely right can suddenly become absolutely wrong.

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Here's a beaut:

AndyManning

20 April 2011 12:14PM

I currently own a property in the Midlands worth 240 ish with a mortgage of 210 on it.

Due to work and family commitments, I had to leave the area and currently rent on the south coast at considerable cost.

I let the above property out but it only covers 70% of the mortgage. This means that our monthly finances are very stretched and we have got into arrears n various loans, cards and even the mortgage from time to time.

I have no intentions of moving back to the area as our jobs are set for down here on the south coast. I would like to sell the property but cannot remain on the ladder if i do as I would not make enough to buy a property down here with the fees and 10% deposit I would need.

Question is, should I cut my losses and sell anyway or hang on and take the monthly hit in the hope I can reach a point whe I have enough equity to sell and still remain on the property ladder?

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Here's a beaut:

...I would jail the lender...this is moral fraud just to get the commission on the deals....the borrower is a fool who probably can't even count the change in his / her pocket... :rolleyes:

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...I would jail the lender...this is moral fraud just to get the commission on the deals....the borrower is a fool who probably can't even count the change in his / her pocket... :rolleyes:

and another likewise, here. Unemployed? Approaching retirement age? I know how to sort this out:

Washboardy

20 April 2011 1:19PM

I am 59 years old and have paid off the mortgage on my house. I'm currently looking for work.

I have been thinking of buying a second property to let in order to move money into a tangible asset and to produce an income.

It's likely that I would be able to fund the majority of the purchase from savings, requiring a mortgage of maybe £60,000-£90,000 (max 40% of value).

If I do this, what sort of proportion of my savings should I leave liquid in the bank in your view?

Is it likely that I could obtain a btl mortgage secured on either my current house, or on the new property which would be mostly mine from the outset?

I mean seriously, what sort of base instincts does he possess to enable him to think that putting his mortgage-free home on the line is a good idea? No wonder we're f*cked.

:lol:

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and another likewise, here. Unemployed? Approaching retirement age? I know how to sort this out:

I mean seriously, what sort of base instincts does he possess to enable him to think that putting his mortgage-free home on the line is a good idea? No wonder we're f*cked.

:lol:

What goes around comes around. In twenty years time people will be asking the same inane questions about whatever happens to be bubblicious then, say, shares or tulips or asteroid mining companies.

Agree with gen. The pm explosion alone will make me lots, let them lem.

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and another likewise, here. Unemployed? Approaching retirement age? I know how to sort this out:

I mean seriously, what sort of base instincts does he possess to enable him to think that putting his mortgage-free home on the line is a good idea? No wonder we're f*cked.

:lol:

And consider taking on a new mortgage at 59 years-old!

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But for the 14 years from say 1994 to 2007 these would be the smart people who followed precisely the right strategy. It'll take some time for thinking to adjust, and for people to realise that what was once absolutely right can suddenly become absolutely wrong.

Fail. The smart money bought early, the rest bought in the runup to 2007. You need to look at that bubble chart again.

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Fail. The smart money bought early, the rest bought in the runup to 2007. You need to look at that bubble chart again.

...a lot of people just bought to buy a house ...and gains / losses happened without strategy ....the smart money at this moment rents... :rolleyes:

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...a lot of people just bought to buy a house ...and gains / losses happened without strategy ....the smart money at this moment rents... :rolleyes:

Correct. I was referring to the "these people" who are posting on guardian clinics. Some were lucky buying early, but the inane investment types are exactly the ones who will come a cropper when the shtf.

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Basically what this says is that the average UK citizen thinks that the best way to make money is by playing the property game in whatever fashion, no matter how much debt it puts you in. Blind speculation. Who cares about hard work, or investing in companies, property is where it's at!

Do these idiots think we'll see another 300% rise over a decade considering where wages are at, amongst a whole other host of ills befalling us right now?

EDIT: If you think about it, it is really amazing. People are absolutely brainwashed. It's amazing!!

Edited by guitarman001

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Do these idiots think we'll see another 300% rise over a decade considering where wages are at, amongst a whole other host of ills befalling us right now?

I'm afraid what the answer to that question might be :unsure:

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Basically what this says is that the average UK citizen thinks that the best way to make money is by playing the property game in whatever fashion, no matter how much debt it puts you in. Blind speculation. Who cares about hard work, or investing in companies, property is where it's at!

Do these idiots think we'll see another 300% rise over a decade considering where wages are at, amongst a whole other host of ills befalling us right now?

EDIT: If you think about it, it is really amazing. People are absolutely brainwashed. It's amazing!!

Kunt & Co are herding people into making these decisions - particularly those on fixed income which has been purposely destroyed by central bank monetary policy ( and the ensuing inflation).

Still, it all ended well last time they tried this inept policy. They are at the top of the list of bubble blowers and economy wreckers.

Edited by OnlyMe

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and another likewise, here. Unemployed? Approaching retirement age? I know how to sort this out:

I mean seriously, what sort of base instincts does he possess to enable him to think that putting his mortgage-free home on the line is a good idea? No wonder we're f*cked.

:lol:

just confirmation we are still in a bubble

don't forget, people with these views were running the country until a year ago

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I was trying to explain to an EA the other day that on her salary she cannot afford to buy a single house that she is marketing.

I think after several months of trying the penny is beginning to drop.

Funny enough my letting agent explained to me they couldn't afford to buy any of the properties they were marketing and were all in rented!

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EDIT: If you think about it, it is really amazing. People are absolutely brainwashed. It's amazing!!

We've had 10 - 15 years of VI propaganda pumped into our brains daily through every medium immaginable; it's terrifying, they've basically turned bricks and mortar into a religious cult.

It's why the likes of Halifax and Northern Rock were making such stupid lending decisions - they got brainwashed by their own propaganda.

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  • 284 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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