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Your Money Sir, Buried Or Cremated?

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I've had my eye on this forum now for quite sometime and decided today it was about time I spoke.

I, as much as anyone else would love to see house prices plummet, but every time I mention this to someone, they say.

"So you really want a mortgage then, you know that renting is just Dead Money".

At which point I restrain myself from jabbing them with the nearest sharp implement, instead I bark.

"You fool, I don't want a mortgage, I just want somewhere nice to live where I don't have to sign my name in blood if I want to hang a picture on the wall!"

Because in reality, to me the only problem with renting is that whole 'Having to ask permission to breathe' thing. If you look at Italy for example, most people rent their homes and appear to have no problem painting it what colour they want, hanging things on walls etc.

Let's say there is a HPC, and millions of people can't pay back the banks and have to declare bankruptcy, who is going to pick up the tab for that?...Us. Isn't this just going to put the country into an even worse state then it already is. It will be bad enough us having to pay off our mortgages without having to bail out the millions who couldn't work out how to use a calculator. And, as things are pretty damn awful as it is, how are things going to be with those ridiculous ID cards, possible millions bankrupt, unemployment, burglaries ignored (if under £700 worth), etc.

It's at that point that I'm probably going to want to ship-out to a different country, and at the very point of making the decision...I'll be glad that I'm renting so I can get away as fast as possible.

I'm really not sure that I would want to 'Tie myself down' if things are going to get much worse. And besides, have you seen some of the places you can rent these days? I've seen some fantastic houses you can rent, the kind you would never be able to afford, unless you were a Columbian drug baron. The town I live in at the moment is a dump, and I'm going to move in the summer and the beauty of that is that I don't have to wait for some poor fool to buy this place, I can give a month's notice and leave.

What do you guys think?

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Guest Guy_Montag

I'm happy renting just now, for much the same reason. I'm now actively looking for work abroad, this country has a lot of problems &, to be honest, I can't help feeling I should git while the going's good. We are heading for a recession, so better to ride it out in foriegn parts & come back when things have picked up again.

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we are already in recession and have been for 12 to 18 months but non existant 'growth' has been bigged up during that time.

this country is one of the best to develop a business and make substantial profits, but i agree if you can arrange it live elsewhere, just have the business here (low corporate taxes) and commute physically as business demands or by cyberspace and live elsewhere (low personal tax and better standard of living or where your cash really means something)

renting is not good as you are paying hard earned and already taxed cash out for nothing, own and you can get some other wally to rent it from you while you own (or even rent, yes even rent somewhere else).

some believe that there will be a house price crash, maybe they are right, maybe they are wrong, i personally cannot see a crash happening, house worth £100,000 now will still be worth at least £100,000 in three years time

own stuff that has value that others will pay for using and you will not go wrong in the long term, property falls into this category, an audi TT does not, much like paying rent also does not

work it out, its not hard

i own property and i love this website as all i can see is potential renters delighted to put hard earned in my pocket for absolutely no work or effort on my part (ok it takes effort in the short term at the start) and think that i am stupid.

its truly satisying to see so many folks think that renting is great and i really hope that this website does have an influence on the property market as it will only be good for me.

keep it up folks

MH

Edited by Michael Hampton

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Renting is definitely the smart move, for example where I am one months rent is less than one months interest payment on even the cheapest property. When this cost gap narrows then that is the time to consider buying. At the moment it's a bit of a no-brainer.

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renting is not good as you are paying hard earned and already taxed cash out for nothing, own and you can get some other wally to rent it from you while you own (or even rent, yes even rent somewhere else).

Yes that's right. Rent out the place to someone for X while you pay X+Y interest on the mortgage. So around a total loss of Y each month. Hey at least it will still be worth what you bought it for in 3 years.....or then again...

Edited by Anti_Claus

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we are already in recession and have been for 12 to 18 months but non existant 'growth' has been bigged up during that time.

this country is one of the best to develop a business and make substantial profits, but i agree if you can arrange it live elsewhere, just have the business here (low corporate taxes) and commute physically as business demands or by cyberspace and live elsewhere (low personal tax and better standard of living or where your cash really means something)

renting is not good as you are paying hard earned and already taxed cash out for nothing, own and you can get some other wally to rent it from you while you own (or even rent, yes even rent somewhere else).

some believe that there will be a house price crash, maybe they are right, maybe they are wrong, i personally cannot see a crash happening, house worth £100,000 now will still be worth at least £100,000 in three years time

own stuff that has value that others will pay for using and you will not go wrong in the long term, property falls into this category, an audi TT does not, much like paying rent also does not

work it out, its not hard

i own property and i love this website as all i can see is potential renters delighted to put hard earned in my pocket for absolutely no work or effort on my part (ok it takes effort in the short term at the start) and think that i am stupid.

its truly satisying to see so many folks think that renting is great and i really hope that this website does have an influence on the property market as it will only be good for me.

keep it up folks

MH

You clearly have no understanding of opportunity cost - what one might earn with one's money if it is not tied up in, for example, bricks and mortar.

This ignorance usually manifests itself in the mantra 'renting is dead money'. Currently one can rent for less than the cost of buying, so it is property ownership which is 'dead money'. I rent a £450K house on which I pay the landlord a yield of 2.9%; meanwhile the proceeds of my STR, a similar figure, has earned over 20% in the last year.

Why would I want to lock away £450K in a house while I can earn 20%+ on that money whilst renting at 2.9%?

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Huh?

"...potential renters delighted to put hard earned in my pocket for absolutely no work or effort on my part..."

..and then you pay the majority of that to the bank in interest on YOUR mortgage (which is a fixed ammount) and is exposed to any downturn in this shaky economy

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I've had my eye on this forum now for quite sometime and decided today it was about time I spoke.

I, as much as anyone else would love to see house prices plummet, but every time I mention this to someone, they say.

"So you really want a mortgage then, you know that renting is just Dead Money".

At which point I restrain myself from jabbing them with the nearest sharp implement, instead I bark.

"You fool, I don't want a mortgage, I just want somewhere nice to live where I don't have to sign my name in blood if I want to hang a picture on the wall!"

Because in reality, to me the only problem with renting is that whole 'Having to ask permission to breathe' thing. If you look at Italy for example, most people rent their homes and appear to have no problem painting it what colour they want, hanging things on walls etc.

Let's say there is a HPC, and millions of people can't pay back the banks and have to declare bankruptcy, who is going to pick up the tab for that?...Us. Isn't this just going to put the country into an even worse state then it already is. It will be bad enough us having to pay off our mortgages without having to bail out the millions who couldn't work out how to use a calculator. And, as things are pretty damn awful as it is, how are things going to be with those ridiculous ID cards, possible millions bankrupt, unemployment, burglaries ignored (if under £700 worth), etc.

It's at that point that I'm probably going to want to ship-out to a different country, and at the very point of making the decision...I'll be glad that I'm renting so I can get away as fast as possible.

I'm really not sure that I would want to 'Tie myself down' if things are going to get much worse. And besides, have you seen some of the places you can rent these days? I've seen some fantastic houses you can rent, the kind you would never be able to afford, unless you were a Columbian drug baron. The town I live in at the moment is a dump, and I'm going to move in the summer and the beauty of that is that I don't have to wait for some poor fool to buy this place, I can give a month's notice and leave.

What do you guys think?

Edit - misread

:P

Edited by music man

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I've had my eye on this forum now for quite sometime and decided today it was about time I spoke.

I, as much as anyone else would love to see house prices plummet, but every time I mention this to someone, they say.

"So you really want a mortgage then, you know that renting is just Dead Money".

At which point I restrain myself from jabbing them with the nearest sharp implement, instead I bark.

"You fool, I don't want a mortgage, I just want somewhere nice to live where I don't have to sign my name in blood if I want to hang a picture on the wall!"

Because in reality, to me the only problem with renting is that whole 'Having to ask permission to breathe' thing. If you look at Italy for example, most people rent their homes and appear to have no problem painting it what colour they want, hanging things on walls etc.

Let's say there is a HPC, and millions of people can't pay back the banks and have to declare bankruptcy, who is going to pick up the tab for that?...Us. Isn't this just going to put the country into an even worse state then it already is. It will be bad enough us having to pay off our mortgages without having to bail out the millions who couldn't work out how to use a calculator. And, as things are pretty damn awful as it is, how are things going to be with those ridiculous ID cards, possible millions bankrupt, unemployment, burglaries ignored (if under £700 worth), etc.

It's at that point that I'm probably going to want to ship-out to a different country, and at the very point of making the decision...I'll be glad that I'm renting so I can get away as fast as possible.

I'm really not sure that I would want to 'Tie myself down' if things are going to get much worse. And besides, have you seen some of the places you can rent these days? I've seen some fantastic houses you can rent, the kind you would never be able to afford, unless you were a Columbian drug baron. The town I live in at the moment is a dump, and I'm going to move in the summer and the beauty of that is that I don't have to wait for some poor fool to buy this place, I can give a month's notice and leave.

What do you guys think?

[/quote

What do I think?......I think you're some kind of test/joke........actually I think you're funny!

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Why would I want to lock away £450K in a house while I can earn 20%+ on that money whilst renting at 2.9%?

Wow, your landlord must have been desperate for someone to rent his house.

Wonder how long until he will have to sell the house.

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red baron,

i have absolutely no mone of my money whatsoever tied up in property, you have truly no idea about my business its structure or its aims so how can you poossibly comment

if you lot really knew how easy it is to procure property with positive cashflow for none of your own cash in you would all do it, luckily due mostly to lack or ability, foresight and brainpower most on here will NEVER do it

just sit and think how you can acquire property in this way, what you need to have in your armoury and bingo on your way to prosperity

opportunity cost has no relavnce to me as none of my cash is being used, i use cash from my properties to fund my life i.e business profit

rent less than the mortgage... maybe where you are but certainly not where i am

latest purchase mortgage £388.00 rent all rooms out at 250 PCM each or the whole thing at £600, i deal with it myself so no external managment fees (i charge myself of course)

its a no brainer,

rate rises maybe up .5 % before the end of the current cycle i have 5 yr fixes an all my properties. recession will bit a little harder soon as it tightens its grip

just because you lot missed the boat and whine and whine and whine that prices are high instead of

1. earning more, instead of being caught in the shitty job trap being promised the earth by employers taking the piss out of you and getting you to work hard for less than you are worth

2. actualy learning about business

3. teat your life as a business

4. think think think and be creative

good luck renter boys

MH

Edited by Michael Hampton

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LOL,

keep 'em coming

i am cutting and pasting these now and saving them

i have shown some of the replies to my next door neighbour (he is a succesful man in his own right) and he is astounded at the thought process that leads to the statements above.

"have they got a no idea"

"surely they are taking the p*ss" (this is a distinct possibility of course)

"i'll show them to my sales force to show the level of stupidity out there"

and

"i'll use that as a sales training aid as to show just what people are like"

keep them coming

by they way i don't have a job, had one a few years ago though

i am cuurently enjoying a beer or two with my neighbour in the sunshine on my lap top, watching my patio being laid by and paid for by the rent i collected this morning.

gotta go now, life is good

MH

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LOL,

keep 'em coming

i am cutting and pasting these now and saving them

i have shown some of the replies to my next door neighbour (he is a succesful man in his own right) and he is astounded at the thought process that leads to the statements above.

"have they got a no idea"

"surely they are taking the p*ss" (this is a distinct possibility of course)

"i'll show them to my sales force to show the level of stupidity out there"

and

"i'll use that as a sales training aid as to show just what people are like"

keep them coming

by they way i don't have a job, had one a few years ago though

i am cuurently enjoying a beer or two with my neighbour in the sunshine on my lap top, watching my patio being laid by and paid for by the rent i collected this morning.

gotta go now, life is good

MH

you live in Slough don't you. You certainly sound like a David Brent wannabe. Good luck anyway.

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keep them coming

by they way i don't have a job, had one a few years ago though

i am cuurently enjoying a beer or two with my neighbour in the sunshine on my lap top, watching my patio being laid by and paid for by the rent i collected this morning.

gotta go now, life is good

And I've been sitting in the park enjoying a freshly squeezed carrot & apple juice (healthy!), laptop by my side. STR cash earnt 49% net last tax year, while I'm paying 4.5% gross yield on my rented flat. My own business running very nicely thanks, looking to expand into the US soon (but not in US$ :)).

BTL sounds like a nice proposition and I'll keep my options open, but it doesn't currently look attractive, IMVHO.

Life is good, thanks.

Anything to criticise?

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rlatest purchase mortgage £388.00 rent all rooms out at 250 PCM each or the whole thing at £600, i deal with it myself so no external managment fees (i charge myself of course)

Frankly I don't believe that there is anywhere in the UK where you can rent out a 90k house for 600pm.

I currently rent a house for 550pm that would cost about 140k. 1 bed flats up the road are on the market for 100k.

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Guest Baffled_by_it_all

'i have shown some of the replies to my next door neighbour (he is a succesful man in his own right)'

Oh man, I laughed out loud at that one.

God it must be fun down your street.

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Good Lord, you lot are a volatile bunch!

The question I was asking (in plainer English) was:

Isn't it better to rent so that you can move whenever you want rather than be trapped for years in a home/town you don't like? All simply because everyone told you to get on the 'Ladder' and you rushed into buying somewhere only to find out later that the area was a dump.

I started renting 6 years ago, the place seemed all very nice and big considering the £400 per month rent (which it still is) and other potholes we'd looked at. Now the problem is that we signed up straight-away thinking we'd bagged a bargain, I knew nothing about the town and now that I've lived here, I want out ASAP. This place is like Baghdad only worse, and it was on the decision to move that I realised how glad I was that I hadn't bought a house, because, let's face it, when you've decided you've had enough of somewhere, you don't really want to be hanging around, do you?

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There was a pillock called Michael Hampton who joined my school at the 6th form in Southend. I never wondered what happened to him, but just out of curiosity are you him?

Oh and when you've finished shoring up your pitiful self esteem by peacocking to a bunch of strangers on the interweb, can you sign me up for one of your "Chancers and Blaggers" courses please?

Ta

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I rent a room and have just "negotiated down" on the rent. Basically,they told me it had gone up (by 25%) so I informed the owner that I was moving out. Having interviewed several unsuitable candidates, they decided they'd quite like me to stay - at my original rent.

I'm not absorbing their bill increases...!

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Frankly I don't believe that there is anywhere in the UK where you can rent out a 90k house for 600pm.

I currently rent a house for 550pm that would cost about 140k. 1 bed flats up the road are on the market for 100k.

look a bit harder, in fact this property cost me less than 90k

please please keep them coming

it always cheers me up to come to this website

MH

'i have shown some of the replies to my next door neighbour (he is a succesful man in his own right)'

Oh man, I laughed out loud at that one.

God it must be fun down your street.

as i said yesterday i was on his patio having a beer with my lap top whilst my patio was being laid which someone else has paid for.

i was looking at property funnily enough and getting a bit bored nice and hot late on Friday so i had a look here just to perk me up a bit posted athread of two, flicked the screen round and said read this it wil make you laugh

he was amazed and it did make him laugh

keep it coming please, youi never know you could find yorself as a subject in a sales traning course on how the mind works and a barometer of how daft most people can be and therefore easy to sell to

more replies please

MH

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  • 301 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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