NJS 3986 Posted February 27, 2009 Share Posted February 27, 2009 Yep the credit crunch is definitely a load of shite How has it affected you personally? My food bills, council tax, current petrol prices, holiday prices, my wage etc. are all the same as they were 2 years ago. In fact, a lot of places are knocking money off cos everyone is apparently so skint? Ive probably got more money now than I ever had, my internet bill, mobile bill and car insurance has halved in the last year Then look around you and see all the people losing their jobs because businesses are going to the wall - of course that's not you "personally" is it? Link to comment Share on other sites More sharing options...
Gejon 2 Posted February 27, 2009 Share Posted February 27, 2009 No-one has told anyone to rent for 26 years though, they have told people to rent for a few years the buy because you will more than likely pay a hell of a let less in that time. Link to comment Share on other sites More sharing options...
Kid Dynamite 5941 Posted February 27, 2009 Share Posted February 27, 2009 Yep the credit crunch is definitely a load of shite How has it affected you personally? My food bills, council tax, current petrol prices, holiday prices, my wage etc. are all the same as they were 2 years ago. In fact, a lot of places are knocking money off cos everyone is apparently so skint? Ive probably got more money now than I ever had, my internet bill, mobile bill and car insurance has halved in the last year Then look around you and see all the people losing their jobs because businesses are going to the wall - of course that's not you "personally" is it? No its not. I chose to work for a profession with job security and a good pension on purpose. Link to comment Share on other sites More sharing options...
NJS 3986 Posted February 27, 2009 Share Posted February 27, 2009 Put it this way, my parents both work for the NHS. They started off in a £10k terrace in 1982. 26 years later and they have enough equity in their house to be looking for one worth £500k. And that buys you a lot in chester-le-street. If they had chosen to rent their is no way they would be in this position and when they peg it my sister and I will be getting £250k each. (Til they retire and decide to downgrade and spend all their money that is!) Cut out the middle man and kill them now then. I fucking despise inherited wealth. I'd also be very wary of working in the NHS considering who the next government will be. Im damn sure il be making sure my kids are comfortable when I peg it. And there is no hope anything is happening to the NHS. Dont listen to the Daily mail, we have the 'Best' healthcare system in the world bar none. So why bother teaching them to try in life when its all going to be laid on a plate when you die? If you think the Tories won't cut the NHS this time around then you're extremely naive. Link to comment Share on other sites More sharing options...
NJS 3986 Posted February 27, 2009 Share Posted February 27, 2009 Yep the credit crunch is definitely a load of shite How has it affected you personally? My food bills, council tax, current petrol prices, holiday prices, my wage etc. are all the same as they were 2 years ago. In fact, a lot of places are knocking money off cos everyone is apparently so skint? Ive probably got more money now than I ever had, my internet bill, mobile bill and car insurance has halved in the last year Then look around you and see all the people losing their jobs because businesses are going to the wall - of course that's not you "personally" is it? No its not. I chose to work for a profession with job security and a good pension on purpose. Nobody is safe - the 80s should have taught you that and it looks like you'll have to learn it again. Link to comment Share on other sites More sharing options...
Tom 13883 Posted February 27, 2009 Share Posted February 27, 2009 Yep the credit crunch is definitely a load of shite If you look at any market people specialise in it has clearly fucked a lot up. In respect to the guitar market guitar companies are trying to maintain previous profit margins with a weaker pound and a demographic that simply can't afford to buy. Some guitars have risen 40 % in price as a result of this which is in turn hurting the second hand market. So starter to medium guitar buying is pretty much fucked and the only thing that is safe is the boutique and specialist market, people who can afford to hold on to investments or sell and make a quick £5k. So people can't afford to buy but the sellers can't afford not to raise the price. Even the pound suffering against the Yen has fucked up a lot of imports, A £500 guitar which generally used to be good value and worth the import costs will now cost around £800 with import costs still to be added - e.g it's no longer worth buying from Japan any more. That's my experience of it anyway... Link to comment Share on other sites More sharing options...
Kid Dynamite 5941 Posted February 27, 2009 Share Posted February 27, 2009 No-one has told anyone to rent for 26 years though, they have told people to rent for a few years the buy because you will more than likely pay a hell of a let less in that time. You dont get it. If you pay £500 a month in rent for 4 years youre then 4 years older and minus £24000 with nowt to show for it except a happy landlord. If you pay £650 a month on a mortgage for 4 years youve nearly got 20% of your house paid off (on a 25year mortgage obviously) So how exactly are you paying less? Link to comment Share on other sites More sharing options...
Kid Dynamite 5941 Posted February 27, 2009 Share Posted February 27, 2009 Put it this way, my parents both work for the NHS. They started off in a £10k terrace in 1982. 26 years later and they have enough equity in their house to be looking for one worth £500k. And that buys you a lot in chester-le-street. If they had chosen to rent their is no way they would be in this position and when they peg it my sister and I will be getting £250k each. (Til they retire and decide to downgrade and spend all their money that is!) Cut out the middle man and kill them now then. I fucking despise inherited wealth. I'd also be very wary of working in the NHS considering who the next government will be. Im damn sure il be making sure my kids are comfortable when I peg it. And there is no hope anything is happening to the NHS. Dont listen to the Daily mail, we have the 'Best' healthcare system in the world bar none. So why bother teaching them to try in life when its all going to be laid on a plate when you die? If you think the Tories won't cut the NHS this time around then you're extremely naive. You havent got a clue if you think thats going to happen. Id bet my house on it. They havent got the time, money or inclination to fuck with the countrys single biggest employer and the wrolds best healthcare system. Aint gona happen. Times have changed since Thatcher and the mines mate Link to comment Share on other sites More sharing options...
Gejon 2 Posted February 27, 2009 Share Posted February 27, 2009 (edited) Because £650 x 300 is more that £650 x 36 + £400 x 300. Edit: Or if the rent is less (as you have stated above) then you will save even more. Edited February 27, 2009 by Gejon Link to comment Share on other sites More sharing options...
NJS 3986 Posted February 27, 2009 Share Posted February 27, 2009 You havent got a clue if you think thats going to happen. Id bet my house on it. They havent got the time, money or inclination to fuck with the countrys single biggest employer and the wrolds best healthcare system. Aint gona happen. Times have changed since Thatcher and the mines mate Every Tory government in history has fucked the NHS since its creation - they never wanted it and they'll dismantle it further - using the phrase "job security" in the UK in 2009 tells me pretty much all I need to know . Link to comment Share on other sites More sharing options...
Matt 0 Posted February 27, 2009 Share Posted February 27, 2009 House prices have a bit to go yet IMO. All this 'quick, get yourself on the ladder' shite is what has perpetuated a lot of this nonsense. Buy a good house, not any old house. So many people scrambled to raise as much debt as they could to get the best they could because that is what the popular consensus was. If I tried to do that where I live on my salary I'd be in some bombed out hellhole, rather than a basic but essentially very decent place that I can rent comfortably within my means. Buying a house was never for "anyone, anytime" and it never was. Ask anyone who went onto a right to buy scheme on one of the many council estates where most of the decent folk chose to leave and the authorities shipped in a load of scum (happened all over North Shields). They'll selling off flats in Benwell for 50p like they were 15 years ago before long. I fancy a pop at someting towards the end of the year, hopefully there'll be a lot more clarity in the market and also in job security by then! Link to comment Share on other sites More sharing options...
Kid Dynamite 5941 Posted February 27, 2009 Share Posted February 27, 2009 Because £650 x 300 is more that £650 x 36 + £400 x 300. Edit: Or if the rent is less (as you have stated above) then you will save even more. You will have to enlighten me as to what your sum means? Im sure you understand what I mean. By renting you are literally paying someone elses mortgage for them with no end benefit. Its madness Link to comment Share on other sites More sharing options...
Matt 0 Posted February 27, 2009 Share Posted February 27, 2009 By renting you are literally paying someone elses mortgage for them with no end benefit. Its madness No, it means you can live somewhere you want to live. You can also sack it off after 6 months, but as you're already made for life it's clearly not an issue. For those of us where changes can come about a bit quicker then it's a way of ensuring you don't end up in a bankruptcy court and ensure you'll be renting a dosshole for life. Anyway, my rent is less than a mortgage for the price this property last sold. I'm not sure how that's making my landlord money, but I'm not complaining. Link to comment Share on other sites More sharing options...
Renton 17828 Posted February 28, 2009 Share Posted February 28, 2009 No-one has told anyone to rent for 26 years though, they have told people to rent for a few years the buy because you will more than likely pay a hell of a let less in that time. You dont get it. If you pay £500 a month in rent for 4 years youre then 4 years older and minus £24000 with nowt to show for it except a happy landlord. If you pay £650 a month on a mortgage for 4 years youve nearly got 20% of your house paid off (on a 25year mortgage obviously) So how exactly are you paying less? I don't think you understand mortgages KD. You seem quite money-orientated to be honest. Genuine question then, why did you choose to be a nurse when you could have been a doctor with a little more training? You could have afforded a massive house then..... Link to comment Share on other sites More sharing options...
khay 8 Posted February 28, 2009 Author Share Posted February 28, 2009 I don't need to buy a house, just we are planning on moving out of our current place in the summer and was thinking of our options. In Aberdeen its quite expensive to rent and we just thought if we could get a mortgage were we are paying about the same it would be in our best interests to go with that option. Link to comment Share on other sites More sharing options...
Fop 1 Posted February 28, 2009 Share Posted February 28, 2009 It should be a brainer because its a shit time to buy - that's what Meenzer's getting at. I can't speak for everyone but I know previous generations put up with living with their parents when they first got married or with council houses - I guess the "must own a house" mentality I was getting at is now prevalent. That's always been the biggest difference, saving as big a deposit as possible and taking out as small a mortgage as possible (and paying it off as early as possible) has always been the smartest thing to do economically. Recent years have just been insane with 5x wage 100% mortgages and daft buy to let ones too (the market is apparently dropping out of the rented market as we speak). I don't really blame Thatcher for lack of social housing for our state now (although the UK needs more - and less people), as Blair and Brown have been equally as reckless allowing a huge bubble to form in the back of a completely flawed lending system (Teflon Tony seems to have got away with very little criticism for the current problems, by timing his exit perfectly). Link to comment Share on other sites More sharing options...
Asprilla 96 Posted February 28, 2009 Share Posted February 28, 2009 I fucking despise inherited wealth. Out of interest, what would you do if you inherited some money? Would you give it away? Would you rather the government got whatever wealth you earned than your kids? Id bet my house on it. Why don't you just live in that house? Link to comment Share on other sites More sharing options...
NJS 3986 Posted February 28, 2009 Share Posted February 28, 2009 I fucking despise inherited wealth. Out of interest, what would you do if you inherited some money? Would you give it away? Would you rather the government got whatever wealth you earned than your kids? I won't be inheriting any wealth - I got a small sum from my Mam's estate which I spent on a holiday which I suppose makes me a hypocrite. I have no kids but I know my sister who does have kids feels pretty much the same way and intends to spend all her money enjoying life. There are two sides to this - my long term contempt for the rich and powerful in the UK who have always existed because of large scale inherited wealth - by this I mean the upper classes and the institutions like the church. Secondly with the property "boom" of the last couple of decades I see too many people eyeing up their parents wealth as a windfall even to the extent of not worrying about pensions etc. I find this distasteful on the one hand ("of course I don't really want to see them die" etc, etc) and also in relation to the previous point I see it as a disincentive to work as hard as you can to get what you want out of life. My underlying point is that you can't proclaim a meritocracy while upsetting the balance with "free" wealth and access to better education or healthcare. I don't dismiss the idea of providing for your kids completely - I think however that you do that by raising them to be "decent" people and instilling a good attitude to life - not by handing them the keys to cars or houses. Link to comment Share on other sites More sharing options...
Asprilla 96 Posted February 28, 2009 Share Posted February 28, 2009 I fucking despise inherited wealth. Out of interest, what would you do if you inherited some money? Would you give it away? Would you rather the government got whatever wealth you earned than your kids? I won't be inheriting any wealth - I got a small sum from my Mam's estate which I spent on a holiday which I suppose makes me a hypocrite. I have no kids but I know my sister who does have kids feels pretty much the same way and intends to spend all her money enjoying life. There are two sides to this - my long term contempt for the rich and powerful in the UK who have always existed because of large scale inherited wealth - by this I mean the upper classes and the institutions like the church. Secondly with the property "boom" of the last couple of decades I see too many people eyeing up their parents wealth as a windfall even to the extent of not worrying about pensions etc. I find this distasteful on the one hand ("of course I don't really want to see them die" etc, etc) and also in relation to the previous point I see it as a disincentive to work as hard as you can to get what you want out of life. My underlying point is that you can't proclaim a meritocracy while upsetting the balance with "free" wealth and access to better education or healthcare. I don't dismiss the idea of providing for your kids completely - I think however that you do that by raising them to be "decent" people and instilling a good attitude to life - not by handing them the keys to cars or houses. I agree with a lot of your reasoning tbh. The property boom certainly had some very unpleasant side effects. I have told my parents that I would rather they spent every last penny enjoying the rest of their lives rather than worry about leaving anything to me. I think I've had enough help from them growing up to want any more. They're not rich but they've done ok from 30 years of work. I guess the only point I would still maintain is that the idea of the government taking everything I or anyone else worked for is pretty unpalatable. Link to comment Share on other sites More sharing options...
NJS 3986 Posted February 28, 2009 Share Posted February 28, 2009 I guess the only point I would still maintain is that the idea of the government taking everything I or anyone else worked for is pretty unpalatable. Thats something I'm a bit schizo about - I swing between thinking inheritance tax should be 100% of everything in the interests of fairness and equality (tempered with a belief in democracy) and recognising its very human to want to leave something especially if you've done well and see others do fuck all. I do realise my opinion would probably change if I had kids before anyone says it. Link to comment Share on other sites More sharing options...
NJS 3986 Posted February 28, 2009 Share Posted February 28, 2009 I'd also add in the rent vs buy argument that last month I had to fork out £600 for a new bath and bathroom floor and have found out this morning I need to fork out £700 to fix my central heating - things that wouldn't happen if I was renting. Link to comment Share on other sites More sharing options...
Ally 0 Posted February 28, 2009 Share Posted February 28, 2009 I'd also add in the rent vs buy argument that last month I had to fork out £600 for a new bath and bathroom floor and have found out this morning I need to fork out £700 to fix my central heating - things that wouldn't happen if I was renting. Very true. My shower and washing machine have both broken in the past couple of months - a quick phone call and its fixed and replaced with brand new units. Not saying i'm anti-buy, but renting suits me fine at the minute. Link to comment Share on other sites More sharing options...
Fop 1 Posted February 28, 2009 Share Posted February 28, 2009 I guess the only point I would still maintain is that the idea of the government taking everything I or anyone else worked for is pretty unpalatable. Thats something I'm a bit schizo about - I swing between thinking inheritance tax should be 100% of everything in the interests of fairness and equality (tempered with a belief in democracy) and recognising its very human to want to leave something especially if you've done well and see others do fuck all. I do realise my opinion would probably change if I had kids before anyone says it. It's not inherited wealth that really causes the problems these days, fact is a lot of the people with nothing now would still end up with nothing if they got £1,000,000 when their parents/grandparents died, it's just how they live. As it stands you're much better off having no savings for your old age than you are working hard and and going without to get a medium amount of savings. Of course those with a decent of money behind them are still much better off, but that will always be the case until some utopian Star Trek free everything society occurs. Link to comment Share on other sites More sharing options...
manc-mag 1 Posted February 28, 2009 Share Posted February 28, 2009 Im getting married next year so I needed a house. We had the choice to rent or buy and it was a no brainer. First step on the ladder is the hardest but its worth it years down the line when u want to move up. I know mortgages will drop in price in the future but as im not tied in after 2 years mortgage lenders will be falling over themselves to give me the vest deal. Money with a low interest rate is still better than no money at all to them. I think the credit crunch is a load of shit personally. I still get paid the same and the things i buy cost the same. Were having 2 holidays this year, saving for the wedding and ive still enough left over for my big gay arcades. Bruce Willis Tracker Mortgage? Link to comment Share on other sites More sharing options...
Tom 13883 Posted February 28, 2009 Share Posted February 28, 2009 Link to comment Share on other sites More sharing options...
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