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Has anyone visited the site? The discussions on House Prices are scary.

Are they typical of Joe Public?

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Has anyone visited the site? The discussions on House Prices are scary.

Are they typical of Joe Public?

Sadly I think they are.

A few sample quotes from the demonic idiot missk_ensington in the current discussion on house prices sums up the way a lot of them think.

You are NEVER better renting!

So you gonna rent your whole life? You've got to pay the bank some time, why wait until you're old and struggling to get a mortgage. The sooner you start the sooner you start paying it off.

I don't see how you can be better off, most places now are at least £400pcm yet you could get an interest only mortgage and repay £300 a month, and the value is increasing over time.

House prices can keep going up, if only at the rate of inflation. In Hong Kong (or somewhere in that region) they have 100 year mortgages and your kids inherit it because the house prices are so high. What do you think thats it now, the prices will just stop and thats it forever?!

If you're young enough why not get a 30 year mortgage...It isn't lowering the standards, its giving help to people who cannot get on the property ladder and just reflects the current market

http://forums.moneysavingexpert.com/showthread.html?t=206830

And so it goes on

It's moronic back to front thinking like this that has led us into this mess.

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What amazes me about MSE is that they can talk about stoozing (making money from credit cards), how to take the banks on, how to save a few penies on your car or phone bill, yet with housing it's totally different - you waste money automatically renting.

Although, I think sentiment on there is changing... slowly... A lot of people now jump in when they say rubbish about the housing market.

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Guest pioneer31

Sadly I think they are.

A few sample quotes from the demonic idiot missk_ensington in the current discussion on house prices sums up the way a lot of them think.

http://forums.moneysavingexpert.com/showthread.html?t=206830

And so it goes on

It's moronic back to front thinking like this that has led us into this mess.

That's the thread I was reading. She (like many others) thinks that the IR will stay at 4.75% for a 30 year term. Why should it? It's been up, down and up again in the last 30.

Too many people suffer from VERY short term memories. Another reason why we're in this mess.

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Classic. I particularly like this one (but don't tell TTRTR)

So how you gonna pay your rent when you're on a pension??? Surely by then (I dont know how old you are but say you're 35) in 25 years or so rent will be innexcess of £500 a month, and the current state of pensions you'll probably only get paid £800 a month

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You are NEVER better renting!

So you gonna rent your whole life? You've got to pay the bank some time, why wait until you're old and struggling to get a mortgage. The sooner you start the sooner you start paying it off.

I don't see how you can be better off, most places now are at least £400pcm yet you could get an interest only mortgage and repay £300 a month, and the value is increasing over time.

House prices can keep going up, if only at the rate of inflation. In Hong Kong (or somewhere in that region) they have 100 year mortgages and your kids inherit it because the house prices are so high. What do you think thats it now, the prices will just stop and thats it forever?!

If you're young enough why not get a 30 year mortgage...It isn't lowering the standards, its giving help to people who cannot get on the property ladder and just reflects the current market

It's like taking healthy eating advice from the 'half ton man' (now deceased)

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Heh, I love those references to the 100 year multi-generational morgages in Japan... they've just been booming over there since 1990. As for Hong Kong, property prices crashed in 1997 and are yet to climb back. Christ, talk about the wrong end of the stick and ar$e from elbows.

As they said, prices can only keep going up :rolleyes:

Edited by BuyingBear

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I had a near-argument with my future ma-in-law the other night about this very subject.

She is very much of the "house prices only ever go up" school...we agree to disagree on this.

She is pretty typical of the majority in this land...she is also deeply suspicious about the stock-market having tried once and been stung on it because she got naff advice I expect.

"House prices only ever go up.

Stock prices can fall."

Sadly this logic has cemented into a wall that is very hard to break down even when countered with..."look at prices between 89-96 or look at the share your daughter bought that grew 65% in value in 7 months and she realised the money on it".

Ho hum! I blame the VIs and the disgustingly biased press coverage of the house market in this country.

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What amazes me about MSE is that they can talk about stoozing (making money from credit cards), how to take the banks on, how to save a few penies on your car or phone bill, yet with housing it's totally different - you waste money automatically renting.

Although, I think sentiment on there is changing... slowly... A lot of people now jump in when they say rubbish about the housing market.

They just reflect the vapid consumerism in this country, it's a slight of hand, keep the populace entertained with the latest bit of tat and how to steal 1p from the bank for every £100 you hand back in mortgage interest.

Also, if I've paid £10 for a set of useless mugs instead of £15, how has this "saved" me money exactly?

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Also, if I've paid £10 for a set of useless mugs instead of £15, how has this "saved" me money exactly?

That's my biggest gripe with that martin lewis bloke.

Not only have we rebranded debt as 'credit', we're now in the process of rebranding spending as saving. :blink:

Ask the average person if they regularly save money these days and they'll come back with something like "Oh yes, I save 20% on every purchase with my new store card". :rolleyes:

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That's my biggest gripe with that martin lewis bloke.

Not only have we rebranded debt as 'credit', we're now in the process of rebranding spending as saving. :blink:

Ask the average person if they regularly save money these days and they'll come back with something like "Oh yes, I save 20% on every purchase with my new store card". :rolleyes:

The guys a genius IMO. He has helped people obsessed with spending spend less...what those people then do with the 'saved money' is another matter...probablty spend it on other stuff.

If he was all about genuine saving noone would be interested.

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That's the thread I was reading. She (like many others) thinks that the IR will stay at 4.75% for a 30 year term. Why should it? It's been up, down and up again in the last 30.

Too many people suffer from VERY short term memories. Another reason why we're in this mess.

First time post - so please be nice! :D

I post on MSE (jsut started to anyway) and, to be fair, not everyone is like that. There are some who have the "house prices will always rise!" mentality - but not everyone is like that; the main theme IMHO seems to be "go in with your eyes open".

Bit like this site in some sense - there are some doommongers who are virtually praying for a HPC, offering no real evidence. However, the majority (regardless of their opinion of a HPC) seem to offer reasoned arguements.

Just my opinion, but I'm getting a good balanced view of the housing market from this site as well as HPC - something I need given that I'll be a FTB.

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What amazes me about MSE is that they can talk about stoozing (making money from credit cards), how to take the banks on, how to save a few penies on your car or phone bill, yet with housing it's totally different - you waste money automatically renting.

I'm sure there must be a link between people trying to stooze and ending up massively in debt.

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Here's a good one.

http://forums.moneysavingexpert.com/showthread.html?t=209134

Remember children that VI's are always right, and properties are flying off the shelves.

Remember also that the bears on this site are themselves VIs, albeit in the other direction.

Both flavours of VI are taken with a pinch of salt by the sensible types like me. :D

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Remember also that the bears on this site are themselves VIs, albeit in the other direction.

Both flavours of VI are taken with a pinch of salt by the sensible types like me. :D

Blood runs through your feet, thats where our similarity ends.

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The guys a genius IMO. He has helped people obsessed with spending spend less...what those people then do with the 'saved money' is another matter...probablty spend it on other stuff.

If he was all about genuine saving noone would be interested.

he's not the same kaliber as "the big camp father chrismas" that is mr.alvin hall!!!!

ALVIN IS GOD!!!!!

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Sadly this logic has cemented into a wall that is very hard to break down even when countered with..."look at prices between 89-96 or look at the share your daughter bought that grew 65% in value in 7 months and she realised the money on it".

Ho hum! I blame the VIs and the disgustingly biased press coverage of the house market in this country.

Remember that confidence is a lagging indicator.

At the time when everyone is telling you you can't go wrong with property is the very time that the risks are at their highest.

And it's not just this housing boom, the same happened during the 1929 market crash, and the same happened during the South Seas Bubble.

Look back through history and the pattern repeats over and over.

Only once the very last fools have truly bought into the dream of easy riches is the system able to purge itself.

Edited by BandWagon

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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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