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fandanman

"i Was An Angry Young Renter Who Railed Against The Mortgage Industry. Until I Bought A House"

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Pay 1200 a month to pay for your landlords 600 a month entry to the ponzi or pay 600 for your own entry to the ponzi.

Youre saving 600 a month, heck its half the price of being renter scum!

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And if you're an angry renter striving to join our ranks, rest assured: if you're ever lucky enough to do so, you'll soon be in on it too. First wallet, then soul.

No chance. HPC forever.

I don't care either what happens to prices after I buy, the only thing that matters is the price I buy at. But then, that's a commonality we often see among posters here vs the rest of them who can only envisage buying in a forever rising market, ignoring the obvious truth that nothing is forever.

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...he thinks he owns the mortgaged house he is living in now...no...the bank owns it and holds the title deeds ...if it all goes wrong and he / the bank sell at a loss ..they will come after him for that loss after taking his house...did they not clarify that bit..... :rolleyes:

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There's only one question that matters. How much longer can the Chinese Communists continue to hold up the global debt ponzi?

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Downsides:

  • your life savings have evaporated, no cash to invest anywhere
  • much smaller cash buffer when life turns sh1t
  • you're stuck where you are. What if you get a new job somewhere else? Massive costs to move, big wait to sell
  • the very real danger of massive negative equity with daft house prices
  • being stuck with debt millstone around your neck for 20 years plus - hardly a good thing

Personally I don't want even one of the above points.

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Yep but rock and a hard place especially renting in London, I would hate to have to rent there.

nobody has to live there.....they want you, the boss pays the rent. ;)

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I got bored reading it, basically he can buy because of inheritance and feels he's part of the establishment but still cares for the plebs who are now beneath him but is rather confused about it.

Seems like a jumped up middle class bore who doesn't realise he'll be wanting to move into a bigger house soon to impress his dinner party chums, but won't be able to afford it unless prices crash.

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I got bored reading it, basically he can buy because of inheritance and feels he's part of the establishment but still cares for the plebs who are now beneath him but is rather confused about it.

Seems like a jumped up middle class bore who doesn't realise he'll be wanting to move into a bigger house soon to impress his dinner party chums, but won't be able to afford it unless prices crash.

Must read the guardian then.

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I got bored reading it, basically he can buy because of inheritance and feels he's part of the establishment but still cares for the plebs who are now beneath him but is rather confused about it.

Seems like a jumped up middle class bore who doesn't realise he'll be wanting to move into a bigger house soon to impress his dinner party chums, but won't be able to afford it unless prices crash.

I got that impression from the headline. Yeah show off he worked hard and did the right thing and got an inheritance. Edited by Si1

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Pay 1200 a month to pay for your landlords 600 a month entry to the ponzi or pay 600 for your own entry to the ponzi.

Youre saving 600 a month, heck its half the price of being renter scum!

Have you seen the embedded table (mortgage vs rent) in the article?

BTLers and outright owners are carrying the HPC risks, by my way of looking at the market.

Anyone who wants to dive into the market, despite crying out about costs of buying, makes own decision. Anyone here can bail them out if market does turn down, out of their own savings.

buying a house has become my one and only route to a stable future.

:rolleyes:

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buying a house has become my one and only route to a stable future."

Does the article actually say that? Any justification?

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Have you seen the embedded table (mortgage vs rent) in the article?

The one that doesn't consider any additional costs of ownership or capital risk?

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buying a house has become my one and only route to a stable future."

Does the article actually say that? Any justification?

Yes.. but it's complicated. He may see market that way. Another journo bought recently with his pal... just to get on ladder, with an eye to old age. Didn't want to be renting into old age.

He sets out a lot of the extremes with property (haves and haves even moars, - and worked so damn hard for this houses easy long wave HPI riders), that I can agree with.

Seems to still think hpc is possible (and so wouldn't want HPC if he buys and positioning for his plight in a HPC)....

Despite all the costs to Britain at large, the sheer expense of buying a house in 2016 means that first-time buyers like me are too over-exposed – too vulnerable to the spectre of negative equity – to countenance the crash that has to come.

No other social force so powerfully pits those who have against those who don’t. We are all in it together, I’ve realized, so long as we own.

Whatever he decides, it's his own choice.

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Yes.. but it's complicated. He may see market that way. Another journo bought recently with his pal... just to get on ladder, with an eye to old age. Didn't want to be renting into old age.

He sets out a lot of the extremes with property (haves and haves even moars, - and worked so damn hard for this houses easy long wave HPI riders), that I can agree with.

Seems to still think hpc is possible (and so wouldn't want HPC if he buys and positioning for his plight in a HPC)....

Whatever he decides, it's his own choice.

Sadly no. He will require special help. How about help to vote. A special free money tear off slip with his ballot paper to give him a mortgage rebate, every time he votes with Dave.

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I think renting has got an undeservedly bad rep as a money burner. I've rented places at ~1.8% gross yield. In ~2009 after the shit hit the fan, I opened my landlord's mortgage statement by accident and my rent was 70% of his (IO!!) monthly payments. It's pretty much a zero sum game at the point of consumption and one "player" has to have a negative expectation, it's not always the tenant.

I can understand the stability argument though, i've seen more Section 21 notices than i've had hot dinners.

Zero content article though, as others have said.

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As a renter in the underrated regions, the primary downside is the social disrespect I get for being a renter. I'm sick of it.

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As a renter in the underrated regions, the primary downside is the social disrespect I get for being a renter. I'm sick of it.

Agree with this entirely. Everybody immediately assumes superiority over you as soon as they know you aint no DEBTmonkey.

That assumption doesn't last long with me.

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Agree with this entirely. Everybody immediately assumes superiority over you as soon as they know you aint no DEBTmonkey.

That assumption doesn't last long with me.

Us people at our parents are looked down on by renters.

Only people i get to look down on are the homeless.

Edited by Rigged

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