The Masked Tulip Posted October 20, 2013 Author Share Posted October 20, 2013 Some of the EAs round my way are back in full smug gloat mode. Six months ago they were telling me they were bored that they had so little custom and now they are openly laughing if you even dare mention that this is a bubble. Quote Link to comment Share on other sites More sharing options...
dances with sheeple Posted October 20, 2013 Share Posted October 20, 2013 Some of the EAs round my way are back in full smug gloat mode. Six months ago they were telling me they were bored that they had so little custom and now they are openly laughing if you even dare mention that this is a bubble. They won`t be laughing long IMO. Quote Link to comment Share on other sites More sharing options...
Bruce Banner Posted October 20, 2013 Share Posted October 20, 2013 The direct and indirect costs of owning a house are many and considerable, and they are rarely considered by most who advocate buying over renting. The leasehold town house we've rented for the past six years has cost our landlord nearly £3,000 a year in estate maintenance charges. The house had a market value of about £400,000 when we first moved in but is only worth £350,000 now. If you use an average interest rate of 4% compounded over the period, that's £106,000 lost interest plus £18,000 estate maintenance charges and a capital loss of £50,000 making a total of £174,000 cost to the landlord to provide a roof over our heads for six years in return for £66,000 rent received, a loss of £108,000. Then there's the house maintenance, insurance etc. Renting has worked out very well indeed, for us, over the last six years. Quote Link to comment Share on other sites More sharing options...
Bruce Banner Posted October 20, 2013 Share Posted October 20, 2013 According to Rightmove and the Daily Express the average house is increasing in value by £7,000 per month so that's £84,000 per year, if you don't buy now you will miss out as the annualised rate is now over 30% ... this will be all over MSM in the morning and sadly some fools will believe it ... and not just the readers of the Excess singing and dancing round the breakfast table. He who laughs last, laughs longest. Quote Link to comment Share on other sites More sharing options...
dances with sheeple Posted October 20, 2013 Share Posted October 20, 2013 According to Rightmove and the Daily Express the average house is increasing in value by £7,000 per month so that's £84,000 per year, if you don't buy now you will miss out as the annualised rate is now over 30% ... this will be all over MSM in the morning and sadly some fools will believe it ... and not just the readers of the Excess singing and dancing round the breakfast table. Quote Link to comment Share on other sites More sharing options...
The Masked Tulip Posted October 20, 2013 Author Share Posted October 20, 2013 I don't mean to be nasty TMT but why don't you stay away from EAs for a few months and give yourself a break. Do something completely different. In a few months time the EAs may be laughing on the other side of their faces. Why torture yourself like this? Yep, very good and valid points and something I decided to do this week - hence why I posted yesterday about getting my details removed from an EA's database. Thanks for the kind imput. Quote Link to comment Share on other sites More sharing options...
eric pebble Posted October 20, 2013 Share Posted October 20, 2013 My mother is the same, it seems to be ingrained in them. Plus, they sit around watching repeats of "Location, Location, Location" and "Homes under the Hammer" on daytime TV all day, every day. My relationship with my own mother became so bad that I cut off all contact with her for over six months, and has forever been damaged because she couldn't hold a conversation for more than 20 seconds without saying "Are you going to buy a house? Come on, buy a house, buy a house, buy a house now" and after 30-40 times of patiently explaining why I wasn't buying a house, I had had enough. Sympathise 100%. No words can convey how depressing it is that so many people - ESPECIALLY birds - are SO THICK. Quote Link to comment Share on other sites More sharing options...
workingatthepyramid Posted October 21, 2013 Share Posted October 21, 2013 According to Rightmove and the Daily Express the average house is increasing in value by £7,000 per month so that's £84,000 per year, if you don't buy now you will miss out as the annualised rate is now over 30% ... this will be all over MSM in the morning and sadly some fools will believe it ... and not just the readers of the Excess singing and dancing round the breakfast table. in twelve years we will all be millionaires Rodney Quote Link to comment Share on other sites More sharing options...
19 year mortgage 8itch Posted October 21, 2013 Share Posted October 21, 2013 You really think that by not over extending the future for HIS kids would have magically been better? one less IO would have made the future right? Balls to that. I reckon he'll have given them ten years stability in the most crucial years (last seven plus three more - even if it all went tits up today, I reckon 3 years until repossession looking at national forebearance), plus a good education. He could have rented - but probably ended up divorced, knowing his wife, with all the damage the kids would have had from that. No, I think he has actually, with hindsight, lucked into the right decision. Tragedy of the commons and all that - but the fault of the last 30 years of pollies, not any one householder. Of course, sh**ts for me as I rent globally and avoided going balls deep into debt when I could have done.... Is that the best you can come up with? "Everyone else is doing it", "one person's actions can't make a difference", "Can't beat a tragedy of the commons so don't bother doing anything but going balls deep into the tragedy". I'll still pass, thanks. Quote Link to comment Share on other sites More sharing options...
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