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Olivier

Almost Paid My Mortgage

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Had a good laugh today at lunch with colleagues. I managed to drive the discussion to house prices. One the colleagues has bought 2.5 years ago and has been through the pain of remortgaging last september. He's now facing the prospect of negative equity with a significant level of stress. That said he should not have a need for moving (no new kid planned and 2 stable jobs) and even though his mortgage looks painful he should be fine. Another colleague said she had almost paid her mortgage. Bought 10 years ago, no need to worry for her.

I stuned them by saying that I would have soon paid my mortgage too. They all know I'm renting so they asked why. In two minutes I explained them that a crash of 30-40% from peak prices would make me a potential cash buyer with no need at all to get a mortgage. Hence the mortgage paid! :P

50% of the table agreed that prices were too high and the remaining 50% kept on bringing in the "supply/demand" issue. Took me a good 15 minutes to debunk that myth. Don't know if they eventually agreed because they were bored or if they started to consider a potential different reallity but at least the 50% of "reasonable" colleagues were supporting my position.

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Had a good laugh today at lunch with colleagues. I managed to drive the discussion to house prices. One the colleagues has bought 2.5 years ago and has been through the pain of remortgaging last september. He's now facing the prospect of negative equity with a significant level of stress. That said he should not have a need for moving (no new kid planned and 2 stable jobs) and even though his mortgage looks painful he should be fine. Another colleague said she had almost paid her mortgage. Bought 10 years ago, no need to worry for her.

I stuned them by saying that I would have soon paid my mortgage too. They all know I'm renting so they asked why. In two minutes I explained them that a crash of 30-40% from peak prices would make me a potential cash buyer with no need at all to get a mortgage. Hence the mortgage paid! :P

50% of the table agreed that prices were too high and the remaining 50% kept on bringing in the "supply/demand" issue. Took me a good 15 minutes to debunk that myth. Don't know if they eventually agreed because they were bored or if they started to consider a potential different reallity but at least the 50% of "reasonable" colleagues were supporting my position.

At work, I think you'll find that its wiser NOT to participate. You can never prove you're "right".

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Yeah, to be honest, you probably just bored them...

People believe what they know is "true" due to ego, regardless of any facts staring them directly in the face.

You just need to look at the amount of religious people in the world to understand how this works.

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At work, I think you'll find that its wiser NOT to participate. You can never prove you're "right".

I agree. I simply say Oooooooooooh have you looked at this web site (obviously HPC)

i guess (?) they have been guests on here because....................

Then I just get asked is that why you sold?

stare and shrug..................... :rolleyes:

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At work, I think you'll find that its wiser NOT to participate. You can never prove you're "right".

Oh you can prove you are right but everybody is going to hate you as they blithly forge towards the shared perspective and encourage everyone else to join the disaster domain... (people hate to be wrong alone)

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men go mad in herds but come to there senses one at a time......

dont shit where you eat, dont discuss house prices at work and how smart you are.

no one likes a smart ****

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ask questions, listen, but don't tell unless somone asks you a question, think about what your going to say and use the least words possible.

if only i could practice what i 'preach' ;p

Edited by moosetea

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Thanks for the advices. I come from a culture where when somebody is being stupid, you tell him instead of faking to agree with him and have a good laugh as soon as he leaves the room. This is not a case of showing you're smarter than everyone but a case of being direct and love to debate. I guess I have to change my attitude as this might offend people here and I need to be a little bit more "British" in the future... I'll keep on watching silently the on going crash.

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... I need to be a little bit more "British" in the future... I'll keep on watching silently the on going crash.

Here you go :

- start @ 1:30 :lol:

At least, that's how it used to be. Sadly now we go crying to Mummy when our wedding list company goes bust. :P

Edited by Sledgehead

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Here you go :
- start @ 1:30 :lol:

I've read a brilliant book: "Watching the English" by Kate Fox (an anthropologist). The author don't talk about house price obsession but it's kind of instructive for foreigners like me who want to acheive a better integration in this country. I'll practice my stiff upper lip at lunch today! :) And it's entertaining too as it's written with a good pinch of English humour.

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Guest DissipatedYouthIsValuable
I've read a brilliant book: "Watching the English" by Kate Fox (an anthropologist). The author don't talk about house price obsession but it's kind of instructive for foreigners like me who want to acheive a better integration in this country. I'll practice my stiff upper lip at lunch today! :) And it's entertaining too as it's written with a good pinch of English humour.

I've never admired concise brutal sarcasm.

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  • 399 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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