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chiefofwales

Nearing the end of my sanity..

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12 hours ago, Dorkins said:

If you want to have a kid just have a kid. We are raising one in a private rental and her sibling is on the way. It can be done. A small child does not need a 4 bed detached with a double garage, they just need your time.

Don't let landlords/estate agents/bankers/politicians decide your life for you.

Yes, kids don't care if you rent or own or how big the bedroom is, who they have to share with....they just want both of you, your love, care and time.....ūüėČ

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2 minutes ago, winkie said:

Yes, kids don't care if you rent or own or how big the bedroom is, who they have to share with....they just want both of you, your love, care and time.....ūüėČ

Occasionally you come out with a real gem. And this is one of them.

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6 minutes ago, Si1 said:

Occasionally you come out with a real gem. And this is one of them.

Thanks, can only speak from my own experience....... sometimes we get our priorities wrong.ūüėČ

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13 hours ago, ebull said:

At the moment you are short a house. That's a market position and one with almost unlimited cost [space in places like HK or Singapore costs far more than UK].

The only thing wrong with this analogy is you are assuming everyone will eventually need to buy at some point. I don't think thats necessarily true - it is when houses are a sensible multiple of salaries, but if the prices continue increasing into the stratosphere there does come a point where your money is better off sitting in the bank (or in an investment portfolio) and you use the interest/dividend payments to rent forever.

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2 hours ago, Si1 said:

Occasionally you come out with a real gem. And this is one of them.

He is a genius sometimes 

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15 hours ago, Si1 said:

That was a pretty mild though sharp recession.

Credit crunch was much worse.

Wasn't the early 90s worse for unemployment and for home owners?

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23 minutes ago, iamnumerate said:

Wasn't the early 90s worse for unemployment and for home owners?

I suppose it depends where you were, I guess.

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2 hours ago, winkie said:

Yes, kids don't care if you rent or own or how big the bedroom is, who they have to share with....they just want both of you, your love, care and time.....ūüėČ

i bet the west`s kids did not have that feeling. 

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1 hour ago, Habeas Domus said:

The only thing wrong with this analogy is you are assuming everyone will eventually need to buy at some point. I don't think thats necessarily true - it is when houses are a sensible multiple of salaries, but if the prices continue increasing into the stratosphere there does come a point where your money is better off sitting in the bank (or in an investment portfolio) and you use the interest/dividend payments to rent forever.

Funnily enough I was thinking about this the other day. I came to the conclusion that in order (for me) to do that, interest rates would have to rise. If that happens then a crash becomes more likely....catch 22.

I want to retire in Portugal (weather, cost of living, ma√Īana outlook on life). I'm nearly 45 and will have 40k down for a house by the end of the year. Time is ticking for me, I either hold my nose in around a year and pay the ludicrous prices or hang fire, pay rent and save like a madman for a few more years. The problem with that¬†is protecting my savings from inflation when I get past 40k ish. I¬†am a rate tart so can make around 2% on 40k, much less after that, unless I start investing, with the obvious dangers that offers to a quick getaway.

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For the last few years I have been saving more in cash each month than I pay in rent each month.

The delicious thing about this is that when interest rates do go up, it will hit the housing market hard and at the same time more and more savers like me will start realising : "The interest I'm earning more than covers the rent so I'm not in any hurry to buy now"

In some ways people with big houses and mortgages are less secure than a renter with a big savings pot.

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I joined this forum I think in 2005. I believe in HPC but i also believe the odds are too firmly stacked against it, too much vested interest. Money stays cheap, assets stay high

It's amazing how most of the posters from when I joined have quietly slipped away, most of the people from those days are now home owners.

 

Don't put your life on hold. The boom is over, but the bust will be a slow and protracted stagnation, not a collapse. Too many props.

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1 hour ago, iamnumerate said:

I thought everywhere in the UK IIRC.

I can throw some light on this? Property in the Gatwick area lost a huge chunk of value, allowing for inflation which was briefly quite high, it could be almost 50% over 3 years as was about a third nominal.

I happened to be in Newport, South Wales in 1990 and passing an EA's window the price of a 1970s detached, serviceable but unexciting looked to be almost the same as Sussex.  Pretty sure nothing was selling in either location.

A year or two later I was in the area of those salubrious towns across the north, Kendal, Skipton, Harrogate and they looked mighty expensive. I recall reading at the time they were some of the most prosperous in the country and least badly affected.

I went and signed on in Crawley and they told me literally no jobs. Well Father Christmas £5 an hour "but you're not fat enough".

Not jolly enough was more accurate at the time.

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20 minutes ago, Bluestone59 said:

I can throw some light on this? Property in the Gatwick area lost a huge chunk of value, allowing for inflation which was briefly quite high, it could be almost 50% over 3 years as was about a third nominal.

I happened to be in Newport, South Wales in 1990 and passing an EA's window the price of a 1970s detached, serviceable but unexciting looked to be almost the same as Sussex.  Pretty sure nothing was selling in either location.

A year or two later I was in the area of those salubrious towns across the north, Kendal, Skipton, Harrogate and they looked mighty expensive. I recall reading at the time they were some of the most prosperous in the country and least badly affected.

I went and signed on in Crawley and they told me literally no jobs. Well Father Christmas £5 an hour "but you're not fat enough".

Not jolly enough was more accurate at the time.

Thanks for that.  I guess Crawley is now booming - but nothing is selling.

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5 minutes ago, iamnumerate said:

Thanks for that.  I guess Crawley is now booming - but nothing is selling.

Tbh I never even look. I really don't care if a house cost £1000 or £1m. But yes, I bet they aren't selling. If I'd never owned one I'd have been a lot better off today.  The problem being, if you think you may ever want to own you have to get started a s a p in case they go out of range. That's what is so insidious about the whole thing.

In the past you had a chance as some areas were less inflation prone, and still may be, but you can see that the machine is geared to making everywhere on earth as expensive as possible. And always will be.

 

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19 hours ago, Dorkins said:

If you want to have a kid just have a kid. We are raising one in a private rental and her sibling is on the way. It can be done. A small child does not need a 4 bed detached with a double garage, they just need your time.

Don't let landlords/estate agents/bankers/politicians decide your life for you.

This is absolutely true.  We lived in essentially a 2 up 2 down with 2 kids under 3 and it wasn't especially cramped at the time.  Through luck (and a small degree of judgement) we're now in a bigger place but I miss the character of the place we started our family in.

Although we "own" (have a mortgage) now, 15+ years of renting showed that the landlords valued reliable tenants and ours were very happy for us to stay as long as we wanted to rent from them (contracts needed renewing periodically but that was about it).  The only times we moved it was our decision, nothing triggered by the landlord.

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14 hours ago, winkie said:

Yes, kids don't care if you rent or own or how big the bedroom is, who they have to share with....they just want both of you, your love, care and time.....ūüėČ

Renting causes huge pressure on relationships, I have considered moving out before just so the council can pay the rent and give the kids a better life than working can provide.. 

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14 minutes ago, macca13 said:

Renting causes huge pressure on relationships, I have considered moving out before just so the council can pay the rent and give the kids a better life than working can provide.. 

I did not realise that you had kids.

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11 hours ago, FreeFall said:

This is absolutely true.  We lived in essentially a 2 up 2 down with 2 kids under 3 and it wasn't especially cramped at the time.  Through luck (and a small degree of judgement) we're now in a bigger place but I miss the character of the place we started our family in.

Although we "own" (have a mortgage) now, 15+ years of renting showed that the landlords valued reliable tenants and ours were very happy for us to stay as long as we wanted to rent from them (contracts needed renewing periodically but that was about it).  The only times we moved it was our decision, nothing triggered by the landlord.

You can easily rent  with kids. We're in a rented 2 bed terrace... Kids 5 & 7 (boy & girl). They share a room but now need their own rooms... Which forces us to move into another rental, or buy at market peak. Tricky ... We're hoping prices continue to fall at greater pace and we can buy this autumn. As a couple were in 4th rented property since 2005, and neither want to move again unless it's into our forever home. I know that's a Mumsnet cliche phrase, but by god it's true. I want to decorate... Buy a carpet... Plant some trees and fruit bushes!

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19 hours ago, iamnumerate said:

Wasn't the early 90s worse for unemployment and for home owners?

 I don't think the employment figures were so wildly skewed by the farce that is ''in work benefits'' that we now have.

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8 hours ago, macca13 said:

Renting causes huge pressure on relationships, I have considered moving out before just so the council can pay the rent and give the kids a better life than working can provide.. 

I'm so sorry

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2 hours ago, Sausage said:

You can easily rent  with kids. We're in a rented 2 bed terrace... Kids 5 & 7 (boy & girl). They share a room but now need their own rooms... Which forces us to move into another rental, or buy at market peak. Tricky ... We're hoping prices continue to fall at greater pace and we can buy this autumn. As a couple were in 4th rented property since 2005, and neither want to move again unless it's into our forever home. I know that's a Mumsnet cliche phrase, but by god it's true. I want to decorate... Buy a carpet... Plant some trees and fruit bushes!

Similar situation. 4 and 6. Separate rooms but smallish house. Exploiting any govt subsidised saving scheme going to build a deposit to buy something bigger than currently lived in, give the kids more space when they'll need it when they're bigger. In our case renting does work, the house is currently the right size for our needs. Bigger houses, well there just aren't any good ones to rent, which is why eventually will buy one, but I think they're better value to buy since not prime BTL fodder like the one we currently rent. This is Leeds and certainly in the middling area I'm looking prices are not horrific, seem to be flat lining.

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Best advice anyone gave me was to view the deposit as a 'moving in fee', then do whatever the f*** you want. Decorate, cover the wall in picture nails etc etc...

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3 hours ago, macca13 said:

Renting causes huge pressure on relationships, I have considered moving out before just so the council can pay the rent and give the kids a better life than working can provide.. 

Unintended consequences, paradoxical of the system some are forced to live within, you are not the first to think that or action it.......how can it be that a family is better off living with one parent than with both?..... families who are together, want to be together have to make out or live apart.

Just thinking how 40 to 50 years ago so much more was invested in children and families.....better and easily¬† available secure homes that didn't cost more than half a households income to provide, lots of clubs and activities for kids to do, lots of swimming baths, sport facilities that didn't cost the earth, organised events during the summer hols, fitter, healthier children.....lots of truth in it takes a village to bring up a child.....all we now await is more kids turning into adults with mental health issues, low self-esteem and anger issues, lack of hope or control over their destiny......let's hope some more investment can be targeted to the things that do matter......our children's future, our future society, the country we would wish to live in......nobody likes to see families struggling......do we have a plan?ūüėČ

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44 minutes ago, winkie said:

Unintended consequences, paradoxical of the system some are forced to live within, you are not the first to think that or action it.......how can it be that a family is better off living with one parent than with both?..... families who are together, want to be together have to make out or live apart.

Just thinking how 40 to 50 years ago so much more was invested in children and families.....better and easily¬† available secure homes that didn't cost more than half a households income to provide, lots of clubs and activities for kids to do, lots of swimming baths, sport facilities that didn't cost the earth, organised events during the summer hols, fitter, healthier children.....lots of truth in it takes a village to bring up a child.....all we now await is more kids turning into adults with mental health issues, low self-esteem and anger issues, lack of hope or control over their destiny......let's hope some more investment can be targeted to the things that do matter......our children's future, our future society, the country we would wish to live in......nobody likes to see families struggling......do we have a plan?ūüėČ

Yeah. Carve up the NHS and sell it to the yanks, cut corporation tax and workers rights to "compete", feed our kids chlorinated chicken. We are only missing the workhouses that JRM is probably dreaming about.

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