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Sky News This Morning - Renting Is Wasted Money

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Sky news reporting on the labour party's suggestion to cut step duty on lower end house prices.

The reporter actually referred to "wasting money on rented accommodation"

Lovely meme that.

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Sky news reporting on the labour party's suggestion to cut step duty on lower end house prices.

The reporter actually referred to "wasting money on rented accommodation"

Lovely meme that.

I'm just glad I don't waste any money on a Sky subscription, but instead save it for important things like renting somewhere to live.

Anyway, what is it with owning a house when you're only on Earth for a short time ?

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I'm just glad I don't waste any money on a Sky subscription, but instead save it for important things like renting somewhere to live.

Anyway, what is it with owning a house when you're only on Earth for a short time ?

Neither do I

Having a cheeky coffee in a cafe before work, sky is on in there!

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Neither do I

Having a cheeky coffee in a cafe before work, sky is on in there!

You spendthrift.

Live like a Franciscan monk, ditch the cheeky coffee and you too can retire 3 weeks early.

Edited by 25 year mortgage 8itch

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Yes, because how to live your life optimally is a prescribed, one-size-fits-all formula:-

  • go to university, get in £30K+ debt. Get a job on a "professional salary" at £25K per year
  • meet a partner who does the same
  • choose which mum and dad to live at. Live there and save for 2 or 3 years
  • if you're still in the same jobs, put down a deposit for a property
  • hope neither of you lose your job or have to move because of work in the next 15 years
  • farm your kid(s) out to 8AM to 6PM Mon-Fri child care and pay the expense for that

How wonderfully aspirational!

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Yes, because how to live your life optimally is a prescribed, one-size-fits-all formula:-

  • go to university, get in £30K+ debt. Get a job on a "professional salary" at £25K per year
  • meet a partner who does the same
  • choose which mum and dad to live at. Live there and save for 2 or 3 years
  • if you're still in the same jobs, put down a deposit for a property
  • hope neither of you lose your job or have to move because of work in the next 15 years
  • farm your kid(s) out to 8AM to 6PM Mon-Fri child care and pay the expense for that

How wonderfully aspirational!

I often think the chimpanzees living free in the fresh air and eating fresh fruit must be shrieking with laughter at their highly evolved descendents

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Tell that to the couple who lost £50k+ on the house the bought of me, never mind the stress of trying to sell for 3 or 4 years!!!

In fact, tell that to the idiots who bought in London 6 months ago.

They will have lost more than 50K already

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I often think the chimpanzees living free in the fresh air and eating fresh fruit must be shrieking with laughter at their highly evolved descendents

And the down and outs.

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Must be a shit load of waste in the German economy then.

Oops.

Maybe that explains a few things.

Maybe they should have mentioned gouging, bent economics, short termism, debt based vacuous economies which offer little to aspirational generations, etc,etc,etc.

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Sky News presenters like HPI. They had a guest on last week who said that house prices were too high and needed to come down. That Eamonn bloke jumped down his throat with a retort "you are obviously in the market for a house" and the female presenters all agreed with their boss.

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Tell that to the couple who lost £50k+ on the house the bought of me, never mind the stress of trying to sell for 3 or 4 years!!!

I'm yet to be convinced that buying isn't anything other than dead money, especially if you go for a high value property....lost investment opportunities or debt servicing , repairs and depreciation of fixtures etc. the market really has to go some to cover these set backs even taking into account rent.

We have a member on here that is trying to recover the 2004 value on a bungalow, at best, on a deceased relative's property. Likely the relative was elderly and possibly not''investiing'' in renewals to the extent that it takes to even shadow the indicies.

In the South East these effects have been masked by capital gains. Whether these gains will still accrue in the next ten years is another matter, who knows. If they don't, then the property will be a liability and owning will equal dead money.

On the other hand you have got blow your money on something one day I suppose if you don't have a penchant for going on expensive holidays. and owning a house is probably as good a money pit as any other to spunk cash.

Edited by crashmonitor

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On the other hand you have got blow your money on something one day I suppose if you don't have a penchant for going on expensive holidays. and owning a house is probably as good a money pit as any other to spunk cash.

I like lots of cheap holidays, I also like having no debt to service - in fact the banks pay me. Not a lot, but at least the money's going in the right direction.

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Sky News presenters like HPI. They had a guest on last week who said that house prices were too high and needed to come down. That Eamonn bloke jumped down his throat with a retort "you are obviously in the market for a house" and the female presenters all agreed with their boss.

I remember the very first series of the Apprentice. One team wangled a lot from some celebs... including a prized jacket this chef-guy always wore, and also I think, his motorbike..... all for a charity auction. Then Ian Wright (Arsenal footballer) was also quite generous... at his home... some signed shirt IIRC, and maybe his golf-clubs.

Best Eammon offered was a pass to come in, early in the morning, to watch him in studio area to present the news. My memory says they tried to up him to go on a game of golf... but flatly refused.

I've also got an alarm in my head, that Eammon H was trying to sell his house... some article within the last 12 months. Down in plush Surrey way iirc.

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Here we go (as of late 2014). What's this war you talk and speak of if there's more QE? Don't you realise it's utterly loved by many of the owning side.

Eamonn Holmes and Ruth Langsford are tipped to move to London after slashing the asking price of their Surrey mansion by 7%

Dynamic breakfast duo Eamonn Holmes and Ruth Langsford are looking for a quick sale on their six-bedroom Surrey mansion, after slashing the asking price to £3.5 million.

http://www.housetohome.co.uk/articles/news/moving-on-up-after-eamonn-holmes-insists-he-s-not-moving-to-daybreak-he-and-partner-ruth-langsford-put-their-surrey-mansion-up-for-sale_532253.html

http://www.homesandproperty.co.uk/property-news/eamonn-holmes-struggles-sell-his-family-home

Update: Looks like it sold for £2.75m

http://www.rightmove.co.uk/house-prices/detailMatching.html?prop=31992987&sale=52303076&country=england

Edited by Venger

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I`m 55 and I have got 10 more years to pay half my rent (wife will pay the other half)

So £25,000 rent over 10 years. After that my pension or benefits will cover it.

I`m struggling to work out why I should spend £220,000 on buying this council house.

????

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I`m 55 and I have got 10 more years to pay half my rent (wife will pay the other half)

So £25,000 rent over 10 years. After that my pension or benefits will cover it.

I`m struggling to work out why I should spend £220,000 on buying this council house.

????

:lol::lol:

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I like lots of cheap holidays, I also like having no debt to service - in fact the banks pay me. Not a lot, but at least the money's going in the right direction.

Thats Ideal.

But its not a choice for 70% of households.

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Tell that to the couple who lost £50k+ on the house the bought of me, never mind the stress of trying to sell for 3 or 4 years!!!

Are you saying you benefitted from hpi, offloaded your house onto someone else who lost £50k buying from you and yet youre complaining about hpi every day?

(!)

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Thats Ideal.

But its not a choice for 70% of households.

I suppose servicing the debt of a landlord is servicing a debt, although you go down that road and shopping at Tesco's means you're servicing their debt. Not quite the same as having that weight around your own neck - if I want to pack it in and start afresh I can without too much hassle. I don't want to but knowing I can is comfort enough.

Or do you mean 70% of renters are in debt, without anything in the way of assets or not enough assets to pay off their debts in full?

Sorry, I wasn't clear - I sold my place in 2006. Used most of the profit to clear all of my debt and save a bit for a rainy day.

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I suppose servicing the debt of a landlord is servicing a debt, although you go down that road and shopping at Tesco's means you're servicing their debt. Not quite the same as having that weight around your own neck - if I want to pack it in and start afresh I can without too much hassle. I don't want to but knowing I can is comfort enough.

Or do you mean 70% of renters are in debt, without anything in the way of assets or not enough assets to pay off their debts in full?

Sorry, I wasn't clear - I sold my place in 2006. Used most of the profit to clear all of my debt and save a bit for a rainy day.

What I was alluding to, was that the option to pay off your mortgage and own outright is not a choice for 70% of households. Even the option to buy with a mortgage is not a choice for many..

It would of course be ideal if everybody had their residence thrust upon them with no monthly costs simply to stay there.

And I am concerned with the current situation...which is very different to when I bought in 1981.

Edited by Bloo Loo

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