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B3ta Debt Discussion


Dylan
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Some of you may know about b3ta.com - it's a site where people post (quite often NSFW) pictures and photos that they've doctored. They also have a weekly discussion on a set topic, and this week it's debt. The target audience is probably 16 -30 year olds. I've only read the first page and came across this gem in a post on 'how to manage your funds better':

Stop Renting - if you are renting a place, switch to a mortgage as soon as you can - why should you be paying someone elses money so that they can live the high life? in fact greedy buy to let BASTARDS should be taxed at 90% to bring property back so that first time buyers can get a foot on the ladder. I bought my first house with my partner back in June. Although the mortage payments are slightly higher we own the property so its all investment.

Sounds to me like he's been taken in by the 'renting is dead money' rubbish.

Link to the discussion here.

This one's quite interesting too:

I bought a house at the peak of the market in 2004 with my then girlfriend and because it is in such a popular area for student by-to-lets, we got stuck in sealed bid after sealed bid. So we paid 7 grand over the asking price for this one we liked (to make a nice round 132,000).

So what happened next?

- The house dropped 15 grand in value

- I split up with the girl in question and owe her about 5 grand from the whole sorry process

- Water started pouring in through the chimney (I still can't afford to get it fixed)

- I discovered the list of house prices in my area on Yahoo finance, and to my horror, the value of the damn thing has gone up (I kid you not) 100 grand in between 2001 and me buying it in 2004.

Thanks goodness for lodgers and parents. I'm actually doing quite well now. It just seemed like my world was imploding at the time.

Doesn't say where he is, but I imagine this sort of story will get more common in the next few months.

Edited by Dylan
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Question of the week is hilarious, if you can stand the biggest collection of fragile esteemed, self absorbed emo's on the net.

I can't, personally. There's the occasional spark of brilliance, granted, but it's mostly self-referential unfunny guff. There's a couple of b3taphiles I know that rumble around these forums that I'm sure would dispute my claims though :rolleyes:

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