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Yeah you've explained the financial acumen perfectly but you sound more like an estate agent than I apparently do.

When I buy my house, it's financial price will be way down my list of priorities. Settling down and living in it will.

:rolleyes::rolleyes::rolleyes:

I've got some bags of crisps for sale at £50 a bag if you're hungry.

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Sorry but I have neither the time nor the inclination to type pages of text to explain, in a non repetitive way, what I can explain in a few words.

Anyway, it's no more repetitive than "renting is dead money", "paying your landlords mortgage" and all the other annoying phrases that the VIs love so much.

I think we follow the same pages, hence me seeing your posts a lot.

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I feel much the same when I read a poster saying there will be no HPC in the UK when I know I live in the UK and I've seen a 50% crash.

Just keeping saying the same thing is boring but I cannot see the point of letting uninformed posts go unchallenged.

As per other posts, it's localised.

No-one wants to live in your area except other Northern Irish, which is one of the reasons, among others, why the crash there has been so severe.

It's crashed pretty severely in parts of Northern England as well.

Places where people with money or access to large amounts of cheap credit want to live have not crashed, and probably aren't going to.

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I feel much the same when I read a poster saying there will be no HPC in the UK when I know I live in the UK and I've seen a 50% crash.

Just keeping saying the same thing is boring but I cannot see the point of letting uninformed posts go unchallenged.

I know it's boring, but when the VIs make sweeping statements that I know from personal experience are incorrect, I post my personal true and accurate figures to prove the point.

Note to the VIs. If you don't like hearing the same old stuff about my personal circumstances, stop spamming the forum with misinformation and I won't have to challenge it.

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You seem to have the wrong end of the stick. I'll only going into the market when I'm ready and that'll when I have 70% of the funds there to do it, with a backup plan to pay the remaining. The last thing I want to do is pay a mortgage the rest of my life, no intention of that at all.

All I'm suggesting is by the time I hit 30 I will be wanting to do other things in my life that owning my own home will bring. What I do find odd though is for someone after the age of 30 to have put so much effort into saving where they could buy comfortably now to more or less delay buying and wait for some golden period of buying up a house that could never materialise.

I'm 35, have a big deposit (almost cash purchase for a dump) and a reasonably stable above avverage salary job. I guess I'm just odd then. The way I see it, not throwing away a few 10's of K's now could make a huge difference to the later part of my life. It's s risk/reward balance and I'm currently happy to continue as things are currently. I'm from the North Notts area if that helps. Not sure how things are looking your way, but only price drops, seller frustration, growing worry among the sheeple, houses sitting on the market for years and broken chains around my way, so I guess I'll waste a bit more of my life renting. Or instead go to India in November for 3 weeks to watch the cricket. Sadly, non of my mortgaged up friends can afford to join me. Shame.

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Note to the VIs. If you don't like hearing the same old stuff about my personal circumstances, stop spamming the forum with misinformation and I won't have to challenge it.

The subtlety of the argument you're failing to grasp is that your personal circumstances cannot be applied to all. Everyone has different circumstances, but generalisations can be made without asserting that it applies to absolutely everyone. It's not a black and white argument. In some areas, for some properties it's cheaper to rent than buy, conversely in other ares it's cheaper to buy than rent, or at least is more appealing. Do you not agree ?

It does you a disservice to label anyone disagreeing with you as a "VI spamming misinformation" as you then appear to be precisely what you accuse others of and not open to reasoned debate. Particulary as your posts are bulk copies of what you've posted elsewhere, is that not spam ?

Edited by exiges
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It does you a disservice to label anyone disagreeing with you as a "VI spamming misinformation" as you then appear to be precisely what you accuse others of and not open to reasoned debate. Particulary as your posts are bulk copies of what you've posted elsewhere, is that not spam ?

Take a read through this thread (which you started) and tell me that there are not a number of VIs posting deliberate misinformation.

I have neither the time nor the inclination to engage in reasoned debate with a bunch of estate agents.

And this one.

http://www.housepricecrash.co.uk/forum/index.php?showtopic=174890

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This, below. I notice very few challenge the "renting is deadd money" mantra that we get day in, day out.

Outside of the HPC forum, it's even more lob-sided.

Long may your annoying the VI's continue, Bruce. My resolution is to post my different circumstance that also shows that "renting IS NOT dead money" to challenge the opposite statement wherever I see it.

It happens to be true and proves that renting is not dead money even when you don't pay any mortgage interest at all. I know it upsets you faux bears that I keep throwing a spanner into your well rehearsed propaganda spiel, but someone has to.

I think the point is the repetitious nature of your posting and how it should apply to everyone else.

Rents where I am don't do the almost negative yield you claim.

Sorry but I have neither the time nor the inclination to type pages of text to explain, in a non repetitive way, what I can explain in a few words.

Anyway, it's no more repetitive than "renting is dead money", "paying your landlords mortgage" and all the other annoying phrases that the VIs love so much.

I feel much the same when I read a poster saying there will be no HPC in the UK when I know I live in the UK and I've seen a 50% crash.

Just keeping saying the same thing is boring but I cannot see the point of letting uninformed posts go unchallenged.

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Round and round in circles we go :rolleyes:.

I could buy now, cash, but am expecting nominal falls of 30% over the next few years, so I prefer to stay in liquid cash and enjoy my life to the full whilst renting.

This^

I've been renting the same house for many years now. I rent direct from the landlord - a terrific bloke, never had a single problem with him. Pay £650 rent on a £450k house. He tells me he's no intention of selling the house for the next 5 years. My rent hasn't gone up in many, many years, as my landlord would rather have someone he can trust in the place.

I'm expecting prices to continue their decline in the North West, where I'm looking to retire back to. Prices - for SOLD properties - in many of the areas I'm tracking have already fallen a good 10-20% from 2007 peak. I'm expecting those declines to continue and spread for at least the next 3-5 years. So I'm in no hurry to buy.

The rent I've been paying over the last few years has been so small compared to the equivalent mortgage, that my "deposit" for a house has become more than enough for outright purchase.

So, for me at least, renting is by far the better option.

As ever, YMMV. :)

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I've been renting the same house for many years now. I rent direct from the landlord - a terrific bloke, never had a single problem with him. Pay £650 rent on a £450k house. He tells me he's no intention of selling the house for the next 5 years. My rent hasn't gone up in many, many years, as my landlord would rather have someone he can trust in the place.

Are you doing him?

:P

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Are you doing him?

:P

No! But if you are looking for an introduction... :)

He inherited the place, so it cost him next to nothing. Just a quick refurb to get it decent enough for the rental market. At the end of the day, he just wants a hassle-free rental from someone who always pays on time - and that's me. :)

Edited by Nomadd
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. Pay £650 rent on a £450k house.

I would say this is more the exception than the rule. If you do a Rightmove, you see places like this:

Sample postcode: CV22 5LB

Rent: £950pcm CLICK

Buy: £175,000 CLICK

Sample postcode: CV21 1BY

Rent: £725 CLICK

Buy: £157,000 CLICK

The last place we rented was £700pcm, for a £250k house and we knew full well we were onto a great deal, there simply wasn't anything else around similar for less than £850. It would have been disingenious of us to say that "rents around our way are £700" when ours was an exception.

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This, below. I notice very few challenge the "renting is deadd money" mantra that we get day in, day out.

Outside of the HPC forum, it's even more lob-sided.

Long may your annoying the VI's continue, Bruce. My resolution is to post my different circumstance that also shows that "renting IS NOT dead money" to challenge the opposite statement wherever I see it.

The issue with Bruce is I think he is not really representative of the majority on HPC. He is semi-retired and has a great big pile of cash that he has earned either via his own business or by STR'ing. So of course he has all the odds stacked in his favour when it comes to getting good rental deals and looking for the house he wants - he is under no real pressure to settle down and have kids (I guess he has already gone through that phase).

On the other hand, many FTB's don't have a big pile of cash to sit on until the time is right, they do have pressure to settle down and start a family and they also have a restricted choice based on commuting to work.

So although Bruce is correct, it is only for his specific situation. I doubt his posts would be as smug if he was a potential FTB'er with a small deposit and student loans to pay off.

His posts do grate a bit because he seems to be rubbing our noses in it a lot of the time rather than discussing a point.

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My rental is £1500 on a ~450k house, so the 'renting is value' mantra doesn't apply as well in this case - down to what's available when you're looking.

Previously owned and rented since the sale. It's been good news in three ways:

- try a new area/type of location without a major commitment

- seen slight price drops in the types of houses I'm looking at

- avoid a chain ahead of me when selling mine/chain behind when buying.

However, I'll buy in the next 3-18 months. I expect the prices of the houses I'm looking at to trickle down over the next few years in nominal terms - which for me will be broadly break-even in real terms, given my money is in sterling rather than mongolian dollars, rice or donkey farms and I expect modest pay increases.

Main reason for buying will be stability for the kids schooling. If we more robust, long-term lease models were common in the UK then I expect I'd rent for longer than that. Excluding accommodation as a student, I've rented a total of about 7 places over the last 20 years - being turfed out with a months notice is one thing when single, completely different when you've young children at schools/nurseries.

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The issue with Bruce is I think he is not really representative of the majority on HPC. He is semi-retired and has a great big pile of cash that he has earned either via his own business or by STR'ing. So of course he has all the odds stacked in his favour when it comes to getting good rental deals and looking for the house he wants - he is under no real pressure to settle down and have kids (I guess he has already gone through that phase).

On the other hand, many FTB's don't have a big pile of cash to sit on until the time is right, they do have pressure to settle down and start a family and they also have a restricted choice based on commuting to work.

So although Bruce is correct, it is only for his specific situation. I doubt his posts would be as smug if he was a potential FTB'er with a small deposit and student loans to pay off.

His posts do grate a bit because he seems to be rubbing our noses in it a lot of the time rather than discussing a point.

Fully retired actually.

I only discuss my own situation because I know that what I'm saying is 100% correct.

If you're a VI, then yes, I am rubbing your nose in it. If you're an FTB then sorry if you think that's the case but, at my age, many people who have worked hard would expect to be mortgage free with some savings. Hopefully you will be in the same situation.

My personal situation is relevant because it shows the often quoted "you can't be renting when you're retired so take out a mortgage now" mantra to be a load of rubbish.

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Fully retired actually.

I only discuss my own situation because I know that what I'm saying is 100% correct.

If you're a VI, then yes, I am rubbing your nose in it. If you're an FTB then sorry if you think that's the case but, at my age, many people who have worked hard would expect to be mortgage free with some savings. Hopefully you will be in the same situation.

My personal situation is relevant because it shows the often quoted "you can't be renting when you're retired so take out a mortgage now" mantra to be a load of rubbish.

Particularly when the interest you receive from your savings is greater than the amount you pay in rent.......

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The issue with Bruce is I think he is not really representative of the majority on HPC. He is semi-retired and has a great big pile of cash that he has earned either via his own business or by STR'ing. So of course he has all the odds stacked in his favour when it comes to getting good rental deals and looking for the house he wants - he is under no real pressure to settle down and have kids (I guess he has already gone through that phase).

On the other hand, many FTB's don't have a big pile of cash to sit on until the time is right, they do have pressure to settle down and start a family and they also have a restricted choice based on commuting to work.

So although Bruce is correct, it is only for his specific situation. I doubt his posts would be as smug if he was a potential FTB'er with a small deposit and student loans to pay off.

His posts do grate a bit because he seems to be rubbing our noses in it a lot of the time rather than discussing a point.

Hence why I suggest those of us that are better off renting also post, to back Bruce up.

I work, full time, don't have a significant deposit, and rent a +£300k house for way less than the mortgage would be, plus I get free house maintenance thrown in.

It does not make financial sense to buy somewhere with static or falling prices when your rental costs are significantly lower than what the mortgage cost would be.

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Fully retired actually.

I only discuss my own situation because I know that what I'm saying is 100% correct.

If you're a VI, then yes, I am rubbing your nose in it. If you're an FTB then sorry if you think that's the case but, at my age, many people who have worked hard would expect to be mortgage free with some savings. Hopefully you will be in the same situation.

My personal situation is relevant because it shows the often quoted "you can't be renting when you're retired so take out a mortgage now" mantra to be a load of rubbish.

To be honest, when I retire I'd rather be mortgage free with a house I owned plus savings before I felt I could rub anyone's nose in anything.

If your putting it that way, considering your years ahead of me I'm 27, far from retired, I'm mortgage free, debt free with nearly 70k in the bank but I still don't feel the need to stick it to anyone.

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Fully retired actually.

I only discuss my own situation because I know that what I'm saying is 100% correct.

If you're a VI, then yes, I am rubbing your nose in it. If you're an FTB then sorry if you think that's the case but, at my age, many people who have worked hard would expect to be mortgage free with some savings. Hopefully you will be in the same situation.

My personal situation is relevant because it shows the often quoted "you can't be renting when you're retired so take out a mortgage now" mantra to be a load of rubbish.

Am I a VI? Hmm, not sure anymore. I joined HPC as a prospective FTB but I've made the plunge in the last year or so, so maybe I am now. I can still vividly remember the pain of seeing house prices increasing faster than I could save a deposit though. And living like a student in shared houses until I was nearly 30.

I think you are in a different market for rentals tbh. It seems in general you can get good 'value' renting a nice 3 or 4 bed detached house, compared to the purchase price at least. But at the other end of the market, it is not as clear cut. I.e. £750+ or so for a two-bed flat or terraced house that may cost between £160k- £220k ish around me.

If you can show me a two-bed house/flat that is as good value to rent as the house you are in I'd 1) be surprised. 2) be willing to admit you're not just posting on here like LoadsaMoney to rub it in our poor FTB faces.

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To be honest, when I retire I'd rather be mortgage free with a house I owned plus savings before I felt I could rub anyone's nose in anything.

If your putting it that way, considering your years ahead of me I'm 27, far from retired, I'm mortgage free, debt free with nearly 70k in the bank but I still don't feel the need to stick it to anyone.

Lend us a fiver?

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To be honest, when I retire I'd rather be mortgage free with a house I owned plus savings before I felt I could rub anyone's nose in anything.

If your putting it that way, considering your years ahead of me I'm 27, far from retired, I'm mortgage free, debt free with nearly 70k in the bank but I still don't feel the need to stick it to anyone.

clearly, buying a house at any time, whatever the price, is of little concern to one so well heeled.

Thanks for caring

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I would say this is more the exception than the rule. If you do a Rightmove, you see places like this:

Sample postcode: CV22 5LB

Rent: £950pcm CLICK

Buy: £175,000 CLICK

Sample postcode: CV21 1BY

Rent: £725 CLICK

Buy: £157,000 CLICK

The last place we rented was £700pcm, for a £250k house and we knew full well we were onto a great deal, there simply wasn't anything else around similar for less than £850. It would have been disingenious of us to say that "rents around our way are £700" when ours was an exception.

Absolutely agree with what you are saying - my position is pretty exceptional. But..so are the ones you give above.

You are quoting an area of the country where purchase prices are very cheap; round here, in North London, those same houses would be 3 times the price - but the rent wouldn't be three times as much.

For instance, the guy next door to me also rents. He pays £1250. Sure, that's a lot more than I pay, but it's still a lot cheaper than a 25% deposit (to get a better mortgage rate) and then the other £325k in mortgage payments each month. Once you've factored in the inflexibility of ownership, plus the mortgage repayments, plus the loss of income on the £105k he'd have to find for a deposit, then renting still looks the more attractive option to me (and he feels the same way, even with a wife and two kids to take into consideration.)

But, as I said, YMMV. :)

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