I'm Prepared To Admit I Was Wrong

[Elizabeth]

All my life I have dreamed of owning my own home. That right. ALL my life. But everytime I have tried to pursue this dream very real and concrete blocks have been in my way.

Poor, young, badly paid. Then as my income started to go from hand to mouth to reasonable excess for saving and what do you reckon? Housing prices shot through the roof in around 18 month. They stayed that way it was impossible to contemplate so I did other things.

Then I moved somewhere, good old blighty, and for the first time in my life, I got to very well paid, and houses were reasonable, but I had the wrong visa, and then ... what do you reckon? housing prices shot throught the roof in a period of 18 months and stayed that way so now I have the right visa and am reasonably paid but its impossible to contemplate so I intend to do other things...

but now I understand something that I didn't get before (call me a slow learner if you will), after all these years of waiting and yearning and hoping, all those wasted years of hunger for a dream... now I'm bored!

I realise I made a fundamental mistake. Owning housing isn't a neccessity. It is a luxury that you afford yourself when you have your investments sorted out. Dr Bubb. Thanks mate. I finally feel it

DON'T GET IN MY WAY

[ʎqɐqɹǝʞɐɥs]

DON'T GET IN MY WAY

First Sam and now you!

[iLegallyBlonde]

Yes but you don't sell assets to buy liabilities if i remember rightly

[BuyingBear]

First Sam and now you!

And I'm leaving.

They won!

[Harry Sacks]

You're a lightweight, you're fired!

[Elizabeth]

First Sam and now you!

You know how it is shaker Once one person takes up a theme, everybody jumps on the wagon

Yes but you don't sell assets to buy liabilities if i remember rightly

So what are you saying here terrified? That I should NEVER buy a house. Not even as a little treat when I am comfortable and asset rich? You can't take it with you you know

[Guest wrongmove]

You know how it is shaker Once one person takes up a theme, everybody jumps on the wagon

So what are you saying here terrified? That I should NEVER buy a house. Not even as a little treat when I am comfortable and asset rich? You can't take it with you you know

I was a bit confused by terrifieds post, but I think she means you shouldn't sell your investments to buy a property, refering to the last line in your OP.

[Elizabeth]

And I'm leaving.

They won!

So where are you going to BB. I'm considering going back to Oz for a while.

You can think that they won, or you can thing that they've lost the power to enthrawl you with their dream. Just a Zen moment there

[Guest Winners and Losers]

So where are you going to BB. I'm considering going back to Oz for a while.

You can think that they won, or you can thing that they've lost the power to enthrawl you with their dream. Just a Zen moment there

No, NOT OZ! You know it costs 70 quid, yes, 70 quid for a third of a shopping trolley!

I was thinking that when I read your initial post. Why don't you go home and buy a house in Oz where they are virtually being given away at the moment and getting cheaper by the day?

[Guest muttley]

Whereas I agree it is not a good time to buy a house, I would not agree that it is a good strategy to put your money into "investments" as a priority.

In his brilliant book "One Up On Wall Street", author Peter Lynch says this,

" As they might say on Wall Street, "A house, what a deal!". Before you do invest anything in stocks, you ought to consider buying a house, since a house, after all, is the one good investment that almost everyone manages to make.

How many times have you heard a friend or acquaintance lament: "I'm a lousy investor in my house"? I'd bet it's not often.Millions of real estate amateurs have invested brilliantly in their houses."

I'm sure there are investors who are happy to STR and play the markets, DrBubb appears to do very well from it, but for the rest of us it's - save a big deposit, and look round for a bargain.

Will there be more bargains in the near future? I hope so.But I would caution against adopting an investment plan with money that could be used on a future deposit.

[Elizabeth]

No, NOT OZ! You know it costs 70 quid, yes, 70 quid for a third of a shopping trolley!

I was thinking that when I read your initial post. Why don't you go home and buy a house in Oz where they are virtually being given away at the moment and getting cheaper by the day?

Their not actually 'giving them away yet' (YOU B#tch!!! - hope your not easily offended... it just came out, HONEST). It actually the wide open spaces m'dear, and the rents are cheap. Everyone keeps saying 'come to Melbourne', 'come to Adelaide', 'come to Sydney'. What I REALLY want to do is go to Byron Bay (pity my mates who lived that way moved to Adelaide, which as far as I am concerned is a hole in the road between Sydney and Perth ). I also want to make pottery and I think it would be easier there, particularly if I moved to the country and bought a pottery wheel. I hate doing courses where you get a little bit of wheel time after work. Its such a regimented way to pursue relaxation.

[BuyingBear]

I also want to make pottery and I think it would be easier there, particularly if I moved to the country and bought a pottery wheel.

Blimey, and I thought my laptop was heavy.

[ʎqɐqɹǝʞɐɥs]

Their not actually 'giving them away yet' (YOU B#tch!!! - hope your not easily offended... it just came out, HONEST). It actually the wide open spaces m'dear, and the rents are cheap. Everyone keeps saying 'come to Melbourne', 'come to Adelaide', 'come to Sydney'. What I REALLY want to do is go to Byron Bay (pity my mates who lived that way moved to Adelaide, which as far as I am concerned is a hole in the road between Sydney and Perth ). I also want to make pottery and I think it would be easier there, particularly if I moved to the country and bought a pottery wheel. I hate doing courses where you get a little bit of wheel time after work. Its such a regimented way to pursue relaxation.

Pottery snobbery?

[Guest Winners and Losers]

Their not actually 'giving them away yet' (YOU B#tch!!! - hope your not easily offended... it just came out, HONEST). It actually the wide open spaces m'dear, and the rents are cheap. Everyone keeps saying 'come to Melbourne', 'come to Adelaide', 'come to Sydney'. What I REALLY want to do is go to Byron Bay (pity my mates who lived that way moved to Adelaide, which as far as I am concerned is a hole in the road between Sydney and Perth ). I also want to make pottery and I think it would be easier there, particularly if I moved to the country and bought a pottery wheel. I hate doing courses where you get a little bit of wheel time after work. Its such a regimented way to pursue relaxation.

No offence taken, honestly, YOU c**t!!!! - oops, sorry, just slipped out. Property in Byron Bay is 25% over valued. But it does seem like you need a BIG CHILL PILL. If you can dish it out then you should be able to take it.

Sorry, the rest is just a blur....do I care, do I care, do I care

Actually, stay in the UK, you are fitting in just fine. Now I know why you THINK you earn good money. No offence taken though, HONEST. Btw, did I call you any names? You've been in the UK all this time and you can't handle having the piss taken out of you?

Edited March 27, 2006 by Winners and Losers

[Elizabeth]

No offence taken, honestly, YOU c**t!!!! - oops, sorry, just slipped out. Property in Byron Bay is 25% over valued. But it does seem like you need a BIG CHILL PILL. If you can dish it out then you should be able to take it.

Sorry, the rest is just a blur....do I care, do I care, do I care

Not sure whether I have really offended you WAL. Being part-Australian I thought you would understand that this meant that I thought your previous post was paticularly sharp and well delivered. Only concerned because I reserve the C word for genuine shock value. If you are offended please accept my apologies, since genuinely no offence was meant.

[BuyingBear]

You've been in the UK all this time and you can't handle having the piss taken out of you?

I dunno... did she vote New Labour?

[Guest Winners and Losers]

Not sure whether I have really offended you WAL. Being part-Australian I thought you would understand that this meant that I thought your previous post was paticularly sharp and well delivered. Only concerned because I reserve the C word for genuine shock value. If you are offended please accept my apologies, since genuinely no offence was meant.

C'mon - you know us aussie gals like to bandy about the c word. Just trying to get one up you.

You would make new friends in Byron. The 'City of Churches' - says it all really. My house is on the North Coast of NSW. Prices are set to fall in Byron. I am actually ALL australian. Born and bred Sydney girl I'm afraid. Northern Beaches (thank god!). I need to watch my acid fingers!

Edited March 27, 2006 by Winners and Losers

[Elizabeth]

I dunno... did she vote New Labour?

YUP!

[BuyingBear]

YUP!

There you go then, your piss take handling abilities should be top notch.

[BillyShears]

And I'm leaving.

They won!

Looks like all the non-house owners apart from me will leave the country. Then I'll have my choice of properties and have the world's largest bidding war between the sellers.

Billy Shears

[apom]

It is the economic cycle..

Mortage brokers convince people to buy..

won't last..

can't

I don't know anyone planning to buy.. I know many waiting..

And didn't that chief economist from the American Express announce it was going to crash this week..

You know the one with the noble prize in economics..

someone once said on here that you wouldn't get a noble prize for predicting a downturn after an upturn.

Perhaps you would for the timing

[brainclamp]

Thing is DrBubb - how can you be so bullish on gold, yet think there is going to be a houseprice crash?

I can understand bullish on gold, bullish on property. Bearish on gold, Bearish on property, but how can you be a gold bull, yet a property bear?

Are not the two positions a contradiction?

[frugalista]

Thing is DrBubb - how can you be so bullish on gold, yet think there is going to be a houseprice crash?

I can understand bullish on gold, bullish on property. Bearish on gold, Bearish on property, but how can you be a gold bull, yet a property bear?

Are not the two positions a contradiction?

I don't see the contradiction. You can value houses a number of ways, I prefer rent/value ratio. By this ratio, they're overvalued, so I'm bearish.

Gold can presumably be valued somehow (personally I have no idea) -- perhaps in relation to other rare and pretty things which occur in nature. If gold comes out undervalued, I'd be bullish on gold.

Simple really.

frugalista

[BuyingBear]

Gold can presumably be valued somehow (personally I have no idea)

You can value gold as a ratio of ounces against a barrel of crude, on that basis gold (was) pretty cheap on a historical basis.

[Michael]

Their not actually 'giving them away yet' (YOU B#tch!!! - hope your not easily offended... it just came out, HONEST). It actually the wide open spaces m'dear, and the rents are cheap. Everyone keeps saying 'come to Melbourne', 'come to Adelaide', 'come to Sydney'. What I REALLY want to do is go to Byron Bay (pity my mates who lived that way moved to Adelaide, which as far as I am concerned is a hole in the road between Sydney and Perth ). I also want to make pottery and I think it would be easier there, particularly if I moved to the country and bought a pottery wheel. I hate doing courses where you get a little bit of wheel time after work. Its such a regimented way to pursue relaxation.

Wide open spaces?........In most states downunder 90% of the jobs are within 10 miles of the centres of the state capitals (Queensland is the exception)....hence effective population density is as bad as here in spite of population density of country as a whole being a 90th of ours.................