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Unless you have already sold one at current prices or you are basically doing a swap.
Cameron is preparing the nation for the usual Tory slash and burn approach. Spending power will be massively reduced and there will be no money to buy houses.
He is goiog to hit us all hard now while the memory of Gordon is still fresh, vivid and ripe for all the blame. Also Cleggys head is still spinning from al the fame and status and he will go along with everything his boss wants.
Cameron is preparing the nation for the usual Tory slash and burn approach. Spending power will be massively reduced and there will be no money to buy houses.
He is goiog to hit us all hard now while the memory of Gordon is still fresh, vivid and ripe for all the blame. Also Cleggys head is still spinning from al the fame and status and he will go along with everything his boss wants.
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Not many people can afford to buy a house anyway thanks to the previous government, so the advice is a bit redundant.
UK as Bankrupt as Greece i heard earlier ..
Maybe it's time to leave .. Greece is hotter[:(]
Maybe it's time to leave .. Greece is hotter[:(]
keep trying MrBean.
you bullish or bearish on China today? or haven't you flipped the coin yet?
you bullish or bearish on China today? or haven't you flipped the coin yet?
melv/subversion .Its like shooting fish in a barrel.The super sensitive subversion just can't help himself.Please stand by for me to push your buttons[:)]
Deficit reduction =cuts=unemployment= house price falls.
Deficit reduction =cuts= less spending =unemployment= house price falls.
Unemployment =less spending=more unemployment=house price falls.
House price falls = confidence falls=house price plummet.
Deficit reduction =cuts= less spending =unemployment= house price falls.
Unemployment =less spending=more unemployment=house price falls.
House price falls = confidence falls=house price plummet.
you would have trouble working out what day it is melv/subversion.No credibility here..
Melv
The policy of spending cuts etc is going to keep inflation under control, which equals low interest rates and equals a stable housing market.
If you get a new mortgage now, I would be considering a 5 year Fixed rate. The rates are falling dramatically
The policy of spending cuts etc is going to keep inflation under control, which equals low interest rates and equals a stable housing market.
If you get a new mortgage now, I would be considering a 5 year Fixed rate. The rates are falling dramatically
Mr B
Are you suggesting Melv and Sub are one and the same?
Are you suggesting Melv and Sub are one and the same?
I will nominate Chiz for a medal if house prices remon stable for the next three years.
I just glanced at the Independants analysis of the scale of the cuts. OH fk. its v. bad. Had to stop reading.
House prices will totally collapse. The value of houses will be the least of our worries.
I just glanced at the Independants analysis of the scale of the cuts. OH fk. its v. bad. Had to stop reading.
House prices will totally collapse. The value of houses will be the least of our worries.
hmm ..
I wondered why Homes under the Hammer stopped broadcasting [:(]
I wondered why Homes under the Hammer stopped broadcasting [:(]
House prices will totally collapse.
I'm praying you're right. I've saved money for years to buy a house with and have never been able to. Of course having interest cut to zero in the last few years has made it harder to save, but with a bit of luck I'll be able to afford somewhere to live yet
I'm praying you're right. I've saved money for years to buy a house with and have never been able to. Of course having interest cut to zero in the last few years has made it harder to save, but with a bit of luck I'll be able to afford somewhere to live yet
same boat Lori
thing is we'll only get one when it's too late /not worth it
fck this country i hope it sinks
thing is we'll only get one when it's too late /not worth it
fck this country i hope it sinks
Its not in anyone's interests for house prices to fall too bad. The government,Bank and industry all need the degree of confidence that steady house prices bring to the consumer so financial measures will support whatever it takes to keep stability. Politicians will reassure the markets and policies will be adjusted to keep that side in place. Maybe a 5% or 10% max fall but cant see the scales of doom and gloom proposed.
gee..didnt know The Independent was running the country.
The policy of spending cuts etc is going to keep inflation under control, which equals low interest rates and equals a stable housing market.
didn't work like that for japan or the us or ireland.......
didn't work like that for japan or the us or ireland.......
The government,Bank and industry all need the degree of confidence that steady house prices bring to the consumer so financial measures will support whatever it takes to keep stability.
were they stable when they were increasing price at well ahead of the rate of inflation every year? nope. did the government worry? nope. did the banks worry? certainly not enough.
all the above didn't want house prices to plummet in the us (in fact it was worse there with government more heavily in the mortgage business). they still did.
were they stable when they were increasing price at well ahead of the rate of inflation every year? nope. did the government worry? nope. did the banks worry? certainly not enough.
all the above didn't want house prices to plummet in the us (in fact it was worse there with government more heavily in the mortgage business). they still did.
Mc Moonbeam Joined: 22 Sep 05
Replies: 2138 08 Jun 10 16:46
fck this country i hope it sinks
interesting moonbeam- most people with moan about the govt and the state of the nation and often with legitimacy.However I think you would have to dig pretty deep to find some one who wants their own country to "sink".Only the lowest of the low would state that.We aussie may give you poms a hard time and visa versa but I have never heard an aussie say with venom that the UK should "sink" and certainly no aussie would say that about our own country.
Fortunatly you live in a democracy so you have the option to leave.Which of course you won't because if you did you would have to face up to your own woeful inadequacies.
Replies: 2138 08 Jun 10 16:46
fck this country i hope it sinks
interesting moonbeam- most people with moan about the govt and the state of the nation and often with legitimacy.However I think you would have to dig pretty deep to find some one who wants their own country to "sink".Only the lowest of the low would state that.We aussie may give you poms a hard time and visa versa but I have never heard an aussie say with venom that the UK should "sink" and certainly no aussie would say that about our own country.
Fortunatly you live in a democracy so you have the option to leave.Which of course you won't because if you did you would have to face up to your own woeful inadequacies.
The government,Bank and industry all need the degree of confidence that steady house prices bring to the consumer so financial measures will support whatever it takes to keep stability.
Thats all right then; no worries.
I suppose these geniuses will be getting their **** packets out and jottting down these finacial measurs for us all too see. Just to keep our confidence up.
Now here comes reality.Oh dear nothing is going to happen; is it? Because these masters of the universe are the same maniacs that a couple of years ago told us that the world was in an endless boom and the house prices where going up and up and up for ever and ever. Amen.
Thats all right then; no worries.
I suppose these geniuses will be getting their **** packets out and jottting down these finacial measurs for us all too see. Just to keep our confidence up.
Now here comes reality.Oh dear nothing is going to happen; is it? Because these masters of the universe are the same maniacs that a couple of years ago told us that the world was in an endless boom and the house prices where going up and up and up for ever and ever. Amen.
i find the whole housing/prices debate ridiculously over-played.
Unlike the 'price' of a house which is can be determined by any fools willingness to go into hock to the bank the 'value' of a house is primarily determined by the rent it yields which is very easy to work out because the rental yield of a property is very stable and easy information to acquire.
So, find out how much your property yields per year, divide that by a 'reasonable rate of return' ie 6% and you should get a pretty accurate 'value' of your house.
If your house is over-valued by this valuation - sell it.
If your renting and and your paying more that 6% of the sale price of the property - buy it.
Unlike the 'price' of a house which is can be determined by any fools willingness to go into hock to the bank the 'value' of a house is primarily determined by the rent it yields which is very easy to work out because the rental yield of a property is very stable and easy information to acquire.
So, find out how much your property yields per year, divide that by a 'reasonable rate of return' ie 6% and you should get a pretty accurate 'value' of your house.
If your house is over-valued by this valuation - sell it.
If your renting and and your paying more that 6% of the sale price of the property - buy it.
Of course Gatespeed, The Economist have been reporting on the price/rent ratio over recent years, they pointed out in April that for Britain as a whole this figure is currently running at 31% above it's long run average.
Mrben Joined: 25 Oct 03
interesting moonbeam- most people with moan about the govt and the state of the nation and often with legitimacy.However I think you would have to dig pretty deep to find some one who wants their own country to "sink".Only the lowest of the low would state that.We aussie may give you poms a hard time and visa versa but I have never heard an aussie say with venom that the UK should "sink" and certainly no aussie would say that about our own country.
Fortunatly you live in a democracy so you have the option to leave.Which of course you won't because if you did you would have to face up to your own woeful inadequacies.
Oh really .. most countries you can't just up & leave to because i have UK citizenship not Thai / US etc
Most here would leave for Aus tomorrow .. most there wouldn't even consider it (unless like my Aussie cousins you crave the greed & money of London) but then they'll return .. just like the hoards of immigrants would if their benefits/education were stopped etc ..
So is it really my country ?
It seems more like one big prison
and the Government (there is only one) will tell you anything to have you think otherwise whilst propping up their precious market with absolutely Nothing to back it in real terms
So who has the real woeful inadequacies ?
interesting moonbeam- most people with moan about the govt and the state of the nation and often with legitimacy.However I think you would have to dig pretty deep to find some one who wants their own country to "sink".Only the lowest of the low would state that.We aussie may give you poms a hard time and visa versa but I have never heard an aussie say with venom that the UK should "sink" and certainly no aussie would say that about our own country.
Fortunatly you live in a democracy so you have the option to leave.Which of course you won't because if you did you would have to face up to your own woeful inadequacies.
Oh really .. most countries you can't just up & leave to because i have UK citizenship not Thai / US etc
Most here would leave for Aus tomorrow .. most there wouldn't even consider it (unless like my Aussie cousins you crave the greed & money of London) but then they'll return .. just like the hoards of immigrants would if their benefits/education were stopped etc ..
So is it really my country ?
It seems more like one big prison
and the Government (there is only one) will tell you anything to have you think otherwise whilst propping up their precious market with absolutely Nothing to back it in real terms
So who has the real woeful inadequacies ?
Why don't you feck off to Oz then Moonface... can't afford the plane ticket? Too hot for you?
^^ See i can spot a miserable gobby brit stuck with a dead mortgage & ar$ehole job a mile off 
with an extra 10 million people here by 2020;youd be nuts not to buy a house.........not to the renters r us brigade.
So is it really my country ?
It seems more like one big prison
and the Government (there is only one) will tell you anything to have you think otherwise whilst propping up their precious market with absolutely Nothing to back it in real terms
Mc Moonbeam Joined: 22 Sep 05
Replies: 2169 09 Jun 10 19:24
^^ See i can spot a miserable gobby brit stuck with a dead mortgage & ar$ehole job a mile off Sad
clearly it is YOu moonbeam who had the mortgage and the dead end job.blaming the govt, the mortgage the job,the country no less for making your life a prison. It is YOU moonmoaner who has built you own prison due to you laziness.No one will save you.Get off your lazy whinging ass and change your own life if its that terrible.Stop being such a pathetic loser and take responsibility for yourself.
It seems more like one big prison
and the Government (there is only one) will tell you anything to have you think otherwise whilst propping up their precious market with absolutely Nothing to back it in real terms
Mc Moonbeam Joined: 22 Sep 05
Replies: 2169 09 Jun 10 19:24
^^ See i can spot a miserable gobby brit stuck with a dead mortgage & ar$ehole job a mile off Sad
clearly it is YOu moonbeam who had the mortgage and the dead end job.blaming the govt, the mortgage the job,the country no less for making your life a prison.
It is YOU moonmoaner who has built you own prison due to you laziness.No one will save you.Get off your lazy whinging ass and change your own life if its that terrible.Stop being such a pathetic loser and take responsibility for yourself.
crediter Joined: 23 Dec 05
Replies: 2297 10 Jun 10 01:24
with an extra 10 million people here by 2020;youd be nuts not to buy a house.........not to the renters r us brigade.
in aust we are slated for an extra 16million by 2030.Unfortunatly the vast majority of these will be financially poor immigrants.Not the catalyst for a boost in housing prices I think.In fact one could argue a case that with more "buyers" who have less money the market is more likely to move down than up.The argument that numbers of people alone push up housing prices does not gel.If that were tru banggladesh would have the worlds highest realestate
Replies: 2297 10 Jun 10 01:24
with an extra 10 million people here by 2020;youd be nuts not to buy a house.........not to the renters r us brigade.
in aust we are slated for an extra 16million by 2030.Unfortunatly the vast majority of these will be financially poor immigrants.Not the catalyst for a boost in housing prices I think.In fact one could argue a case that with more "buyers" who have less money the market is more likely to move down than up.The argument that numbers of people alone push up housing prices does not gel.If that were tru banggladesh would have the worlds highest realestate
MC Moonbeam
People like you drag the countrty down. Are you teh sort of guy that feels hard done by? Have you low self esteem?
Look, the fact is you only live once, so get enthusiastic about life and get out there and make a good one for yourself.
I can assure you there are worse place to live. Places that are hell on earth. Look at the townships in South Africa, where people live in poverty. They dont moan, they get out there and celebrate teh World Cup coming to their country. They celebrate it despite it doing very little to actually help them!! Liek other have said. If you really dont like the UK just leave. No one is keeping you here. Problem is , most other countries in teh World will refuse to have you , unless you can offer them something in return ! That is where teh UK differs from other countries
People like you drag the countrty down. Are you teh sort of guy that feels hard done by? Have you low self esteem?
Look, the fact is you only live once, so get enthusiastic about life and get out there and make a good one for yourself.
I can assure you there are worse place to live. Places that are hell on earth. Look at the townships in South Africa, where people live in poverty. They dont moan, they get out there and celebrate teh World Cup coming to their country. They celebrate it despite it doing very little to actually help them!! Liek other have said. If you really dont like the UK just leave. No one is keeping you here. Problem is , most other countries in teh World will refuse to have you , unless you can offer them something in return ! That is where teh UK differs from other countries
clearly it is YOu moonbeam who had the mortgage and the dead end job.
I've never had & now don't need either
I've made my money .. but there's little to make me want to spend it HERE
chisel
No one is keeping you here. Problem is , most other countries in teh World will refuse to have you , unless you can offer them something in return ! That is where teh UK differs from other countries
Now you're contradicting yourselves !
Maybe you see my point then ?
I've never had & now don't need either
I've made my money .. but there's little to make me want to spend it HERE
chisel
No one is keeping you here. Problem is , most other countries in teh World will refuse to have you , unless you can offer them something in return ! That is where teh UK differs from other countries
Now you're contradicting yourselves !
Maybe you see my point then ?
How do you work that out Moonshine?
The points I made are totally different. What I am asking is where could YOU go and live that is so much better than the UK?
The points I made are totally different. What I am asking is where could YOU go and live that is so much better than the UK?
actually why don't You tell me Why broken britain is Soooo Much better than all these places i could move to ?
Taking into account standard of life/ costs etc ..
Taking into account standard of life/ costs etc ..
mr.ben.....small clue ...this is an island.....and there aint much cheap property in japan either....oops nother island.
The Japanese save.
We borrow spend remortguage spend then borrow some more and spend. All in the firmly held belief that we deserve our houses to be cash cows. Then when it turns out that what goes up comes down and " you don't get owt for nowt" its all Boo hoo not fair how did that happen. Millions of us will get badly stung by negative equity but we will all be at it again next time round.
We borrow spend remortguage spend then borrow some more and spend. All in the firmly held belief that we deserve our houses to be cash cows. Then when it turns out that what goes up comes down and " you don't get owt for nowt" its all Boo hoo not fair how did that happen. Millions of us will get badly stung by negative equity but we will all be at it again next time round.
exactly .. so why should i now suddenly choose to invest in a broken system .. that would never help me otherwise ?
Most people live here miserabley in debt ..
It's the British way .. they say ...
Hate on all winners ... why ... coz we're all losers together here ..
In The Prison .. that keeps Us Safe .
Most people live here miserabley in debt ..
It's the British way .. they say ...
Hate on all winners ... why ... coz we're all losers together here ..
In The Prison .. that keeps Us Safe .
oh well chisel we tried.moonbeam is a lost cause already.Leave him to his self imposed prison.
crediter Joined: 23 Dec 05
Replies: 2302 10 Jun 10 18:45
mr.ben.....small clue ...this is an island.....and there aint much cheap property in japan either....oops nother island.
and your point would be what exactly?
crediter Joined: 23 Dec 05
Replies: 2302 10 Jun 10 18:45
mr.ben.....small clue ...this is an island.....and there aint much cheap property in japan either....oops nother island.
and your point would be what exactly?
Is Autralia not an Island also by definition?
Crediter I think I knoe what you are saying, but it has little to do with being an island and more to do with habitable space for the population to live.
Melv
I can assure you that teh japanese are NOT the population that we should be striving to copy. They have had tough times in Japan for decades, and things are still not improving despite Interest rates being 0%, and massive government investment. Thei rdebt is as bad , if not worse than ours.
The Japanese stay at home and hoard their cash. That is why Deflation is a problem in Japan.. Be careful what you wish for. Affordable debt is necessary, for us all to live a GOOD life. Sure , a mortgage takes a while to pay back , but you have a property that you own at the end of it.
#
If we bought a house and NEVER moved. There would be no problem.
Crediter I think I knoe what you are saying, but it has little to do with being an island and more to do with habitable space for the population to live.
Melv
I can assure you that teh japanese are NOT the population that we should be striving to copy. They have had tough times in Japan for decades, and things are still not improving despite Interest rates being 0%, and massive government investment. Thei rdebt is as bad , if not worse than ours.
The Japanese stay at home and hoard their cash. That is why Deflation is a problem in Japan.. Be careful what you wish for. Affordable debt is necessary, for us all to live a GOOD life. Sure , a mortgage takes a while to pay back , but you have a property that you own at the end of it.
#
If we bought a house and NEVER moved. There would be no problem.
Chisel, would you not agree that house prices in the uk need to fall back to a more directly related multiple of average wages?
Once that has happened it would seem to be in the general interest of most people.
I want to buy a house but even ignoring all the economics i just see houses are very over valued assets when compared to wages. At the moment there seems to be a general notional value of houses based on boom and bust economics and we need to get to a time when house prices are based on wages as a guide to setting value.
Once that has happened it would seem to be in the general interest of most people.
I want to buy a house but even ignoring all the economics i just see houses are very over valued assets when compared to wages. At the moment there seems to be a general notional value of houses based on boom and bust economics and we need to get to a time when house prices are based on wages as a guide to setting value.
Tell me if I'm lucky, or, should I buy?
I am in Adelaide, Australia, & I am renting in government housing; I am on a disability pension & pay a reduced rent of $73 a week. 2 bedroom house with large block 2 mins from the beach.
I'd probably have to pay about $210-230K if I bought the house, if the Gov. let me buy it.
Is the world gunna go crazy, or stay sane enough that I'd be safe to buy?
I am in Adelaide, Australia, & I am renting in government housing; I am on a disability pension & pay a reduced rent of $73 a week. 2 bedroom house with large block 2 mins from the beach.
I'd probably have to pay about $210-230K if I bought the house, if the Gov. let me buy it.
Is the world gunna go crazy, or stay sane enough that I'd be safe to buy?
there you have our country folks.[smiley:crazy].klaatu is on welfare- disabilty pension.This can range from having a sore back to being in a wheel chair.BUT he wants to, without working, buy a house using his welfare payment.Only in Australia.
Tell me if I'm lucky, or, should I buy?
Your paying $73 a week for a roof over your head and your wondering wether you should pay about $320 a week for the same roof?
mmmm... thats a tough one
Your paying $73 a week for a roof over your head and your wondering wether you should pay about $320 a week for the same roof?
mmmm... thats a tough one
Agreed!!
Mr B , you say only in Australia, but this is what started to happen in the Us and UK and is called sub prime!!
I will give you a funny example of the UK welfare system. A client of mine is not working and has an Interest Only mortgage with Mortgage Express(which I did not arrange). The interest rate is 2.25%.. The governemnt can not base its payment on what teh customer pays, but pays a Fixed 6% . The result is that the customers mortgage is being repaid by the government!
Mr B , you say only in Australia, but this is what started to happen in the Us and UK and is called sub prime!!
I will give you a funny example of the UK welfare system. A client of mine is not working and has an Interest Only mortgage with Mortgage Express(which I did not arrange). The interest rate is 2.25%.. The governemnt can not base its payment on what teh customer pays, but pays a Fixed 6% . The result is that the customers mortgage is being repaid by the government!
fkk me chisel, thats even worse than aust.mind you those days may be numbered as austerity packages replace stimulus.Austerity packages up the proverbial for all.The sooner the better for mine to get rid of these ludicrious levels of welfare that those with jobs are forced to support.
David Blanchflower is now 100% certain there will be a double dip recession.
He is the only member of the bank of Englands policy commitee to call the crisis correctly.
He is the only member of the bank of Englands policy commitee to call the crisis correctly.
Melv
Double Dip recession is simply not going to be allowed to happen! We will see economy grow in the year ahead, but onlyat modest rate.
Blanchflower called for low interest rates in face if risning inflation and was proved right. But , he also estimated that there would be 3millioon unemployed by end of 2009!!
Double Dip recession is simply not going to be allowed to happen! We will see economy grow in the year ahead, but onlyat modest rate.
Blanchflower called for low interest rates in face if risning inflation and was proved right. But , he also estimated that there would be 3millioon unemployed by end of 2009!!
Mrben
I would stoop to your levels & insult you
But you seem to be doing a spectacular job of that all by yourself
I would stoop to your levels & insult you
But you seem to be doing a spectacular job of that all by yourself
chisel Joined: 19 Sep 08
Replies: 1438 10 Jun 10 13:08
How do you work that out Moonshine?
The points I made are totally different. What I am asking is where could YOU go and live that is so much better than the UK?
I left UK in 1984. I've lived and worked in countries on 3 continents since then and could nominate several that are better than UK, including Sweden where I currently reside. The average Swede has a much better standard of living than his / her counterpart in UK, believe me.
Replies: 1438 10 Jun 10 13:08
How do you work that out Moonshine?
The points I made are totally different. What I am asking is where could YOU go and live that is so much better than the UK?
I left UK in 1984. I've lived and worked in countries on 3 continents since then and could nominate several that are better than UK, including Sweden where I currently reside. The average Swede has a much better standard of living than his / her counterpart in UK, believe me.
my daughter just gone switzerland for her company...is it similiar to sweden.
Mc Moonbeam Joined: 22 Sep 05
Replies: 2353 18 Jun 10 12:57
Mrben
I would stoop to your levels & insult you
But you seem to be doing a spectacular job of that all by yourself
its difficult to sttop moonwhinger when, by tour own admission, you are living at the bottom of the pile[;)]
I see plenty of sunshine from where I am, you just see the walls of your "prison".Try to improve yourself mcmoon and you life might get better- suggest getting off the net for a start, your not making much of a contribution anyway.
Replies: 2353 18 Jun 10 12:57
Mrben
I would stoop to your levels & insult you
But you seem to be doing a spectacular job of that all by yourself
its difficult to sttop moonwhinger when, by tour own admission, you are living at the bottom of the pile[;)]
I see plenty of sunshine from where I am, you just see the walls of your "prison".Try to improve yourself mcmoon and you life might get better- suggest getting off the net for a start, your not making much of a contribution anyway.
Did England get to the Ice Hockey World Championship this year ?
Ice hockey is a sh i t game!!!
So is football if we lose tomorrow.!!! Come on England!
So is football if we lose tomorrow.!!! Come on England!
Lori Joined: 20 Apr 04
Replies: 19888 07 Jun 10 08:59
Not many people can afford to buy a house anyway thanks to the previous government, so the advice is a bit redundant.
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Lori Joined: 20 Apr 04Replies: 19888 08 Jun 10 15:38
House prices will totally collapse.
I'm praying you're right. I've saved money for years to buy a house with and have never been able to. Of course having interest cut to zero in the last few years has made it harder to save, but with a bit of luck I'll be able to afford somewhere to live yet
=====================================================
Lori -
1. You blame the government for keeping interest rates LOW last few years?
2. You blame the government for PROPERTY VALUES COLLAPSING......which makes it easier to buy them?
I get the impression you live in LONDON........and blaming the government for your choice to live in a place where you "can't afford to buy house" .....very rational!
Why can't you just stop BLAMING "the government" for your position...........basically you are where you are down to your own decisions in life, and with LOW INTEREST RATES and LOW PROPERTY values this is "good" for people.....how is it "bad"?
Replies: 19888 07 Jun 10 08:59
Not many people can afford to buy a house anyway thanks to the previous government, so the advice is a bit redundant.
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Lori Joined: 20 Apr 04Replies: 19888 08 Jun 10 15:38
House prices will totally collapse.
I'm praying you're right. I've saved money for years to buy a house with and have never been able to. Of course having interest cut to zero in the last few years has made it harder to save, but with a bit of luck I'll be able to afford somewhere to live yet
=====================================================
Lori -
1. You blame the government for keeping interest rates LOW last few years?
2. You blame the government for PROPERTY VALUES COLLAPSING......which makes it easier to buy them?
I get the impression you live in LONDON........and blaming the government for your choice to live in a place where you "can't afford to buy house" .....very rational!
Why can't you just stop BLAMING "the government" for your position...........basically you are where you are down to your own decisions in life, and with LOW INTEREST RATES and LOW PROPERTY values this is "good" for people.....how is it "bad"?
Or "bad" for those that want to make CAPITAL GAINS off increase in value of property.................and what good are they to society?
yes ..dont buy a house....and live later with no motgage or rent to pay and retire early....that would be silly ...like me.
Crediter
Are you saying you never bought a home ?
Are you also saying that people should buy a home when they can affird to and pay it off as soon as possible, so that you can live a comfortable retirement with no rent or mortgage to pay??
Are you saying that beinga slave to debt for most of your life may actually be a good idea??
I never knew anyone on this forum actually thought owing a home was a good idea! I thought that the consensus was that you had to save the whole amount of money needed to buy a home outright was the only way forward, and in teh mean time pay rent to a landlord.. Being asked to move home every couple of years!!
Are you saying you never bought a home ?
Are you also saying that people should buy a home when they can affird to and pay it off as soon as possible, so that you can live a comfortable retirement with no rent or mortgage to pay??
Are you saying that beinga slave to debt for most of your life may actually be a good idea??
I never knew anyone on this forum actually thought owing a home was a good idea! I thought that the consensus was that you had to save the whole amount of money needed to buy a home outright was the only way forward, and in teh mean time pay rent to a landlord.. Being asked to move home every couple of years!!
heres a question.If the cost of capital is 7.25% mortgage rates in aust.And the return on capital is 3.5%- net rent returns in aust on average.And average capital gains is 7% but capital gains tax is 24% and the cost of buying and selling is 3%{one off cost}.
Is an investment property a good idea?
Is an investment property a good idea?
mmmmmm I was hoping someone could crunch the numbers and make some kind of conclusion.
of course its not a good idea in Aust Mrben because the 7% capital gain figure is an estimate. Its an estimate based on the past when the level of debt incurred by property buyers was modest and more importantly based on the return that the property was yielding when it was purchased.
So, to get 7% capital gain on a property that is yielding 3.5% is ridiculous. A property yielding such a useless return should have negative capital gain until it starts to yield at least 6+% and then it would make sense to 'invest' in it. Not buy it, hoping that there is a fool out there that is happy to get a yield of less than 3.5%.
So no, its quite a technically and fundamentally poor idea to buy an investment property in australia.
i dont need therefor to to the rest of the number crunching
So, to get 7% capital gain on a property that is yielding 3.5% is ridiculous. A property yielding such a useless return should have negative capital gain until it starts to yield at least 6+% and then it would make sense to 'invest' in it. Not buy it, hoping that there is a fool out there that is happy to get a yield of less than 3.5%.
So no, its quite a technically and fundamentally poor idea to buy an investment property in australia.
i dont need therefor to to the rest of the number crunching
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