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CrashIsUnderWay

Buying Is Dead Money

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There seem to be quite a few newbies coming on here asking for advice as to whether they should buy or rent right now.

Ignoring those of them who are trolls, the rest need to understand that buying now is DEAD MONEY. And SERIOUSLY dead money too.

You see, it's not just the fact that rents are cheaper than even an interest only mortgage (a.k.a renting from the bank'), it's that you save in another way too. A LOT of money. It's explained simply here...

Save £200,000 by NOT buying now

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I cannot understand how anybody aware of even the most basic available facts can still believe buying is feasible.

This time next year we will all be poorer. Get used to it, get over it. If you can barely afford it now you cannot afford it tomorrow

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u r welcome. I actually did a few runs with a mortgage calculator, and it's true. You can halve the time you spend up to your neck in debt, AT NO EXTRA COST. All u have 2 do is NOT BUY AT THE PEAK.

Not exactly rocket science is it. (someone be prepared to explain to TTRTR - he's too thick to understand that most people don't want a 'portfolio' of 'investment properties' on 'interest only' 'fixed rate' 'lie to buy' mortgages. They just want a home.

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u r welcome. I actually did a few runs with a mortgage calculator, and it's true. You can halve the time you spend up to your neck in debt, AT NO EXTRA COST. All u have 2 do is NOT BUY AT THE PEAK.

Not exactly rocket science is it. (someone be prepared to explain to TTRTR - he's too thick to understand that most people don't want a 'portfolio' of 'investment properties' on 'interest only' 'fixed rate' 'lie to buy' mortgages. They just want a home.

I'm afraid there are still a lot of people who think property is the best investment even now.One of my friends,who is by all other measures a very intelligent lady has a few grand inheritance to spend and she was toying with the idea of getting a BTL!...this discussion was last saturday!!!!

...I've done my best to persuade her otherwise,but one of her other friends is a BTL with 10 props and I think she is influenced a lot by that.I've done my best to make her think about it,throwing in the....what investment would you like best,40% pa(my jap fund),or 3% p.a(property)....obviously she answered the former so I hope she'll sit back for a while and do some homework before putting money on anything.

...The idea that someone you know has done well out of it so I will too is still out there....so stocks,gold,whatever the next bull run is will have its turn,at the expense of property.

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The only thing you can do is try and warn these people and then say I told you so.

I have a lot of friends who will lose loads, I can't say I didn't try.

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When a mortgage lender like the Northern Rock says that people are abandoning BTL in search of more profitable investments, it really brings home that they recognise that the game's a bogey. This whole bubble has been driven 5% by population/households growth, 95% by speculation. Your starter for 10 - what happens to the bubble when the speculators leave?? ;)

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  • 302 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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