Grim news

[AtW]

Sorry mate, you put your head above the parapet long ago. Now you've appeared in the International Press it's in the public domain.

Just make sure you spell it right then

[AtW]

Everyone on here has been advising, actually urging, you to get a mortgage for several years. But you knew better.

It was either having a mortgage on a rather pathetic house OR have SKA.

I've made the right choice.

[AtW]

I hope this makes sense to your communist mind.

Yes, perfect komrade, I'll bring you some valenki for cold winter that's coming.

[DimPrawn]

It was either having a mortgage on a rather pathetic house OR have SKA.

I've made the right choice.

Now buy the house/flat.

Can you see that only thing that will cause house prices to fall significantly is very high interest rates and that isn't going to happen for a very very long time?

Therefore, since the prices are not going to fall sharply, better to borrow now cheaply, and with your SKA income pay off the debt, giving you a rent free existence in a few short years.

Then your income is all yours for Pot Noodles and boxes of tissues.

[gingerjedi]

Just make sure you spell it right then

I copied and pasted it from M12 site!

Removed it now.

[AtW]

Now buy the house/flat.

I would not get high enough mortgage for the one I'd like to live in, so I prefer to rent good place rather than live in a tulip "owned" house.

This time next year though...

[PAH]

These were not my words (they are from the article), and I never said I believe them.

I never said you meant you.

My grasp of English isn't great, sorry. Maybe I should have said "If anyone ..".

I'm surprised you've survived on CUK for so long being so sensitive.

[EternalOptimist]

Everyone on here has been advising, actually urging, you to get a mortgage for several years.

But you knew better.

I am with the commie on this one. Forget the mortgage. Just hoik a big wodge out of yer pocket and buy one cash

kerching. you know it makes sense

[PAH]

Can you see that only thing that will cause house prices to fall significantly is very high interest rates and that isn't going to happen for a very very long time?

What about inflation of basic essentials (food, fuel, etc) without wage inflation? Will that too not have a devastating affect on people's ability to continue servicing their already high levels of debt (mortgage and credit card), forcing bankruptcy or quick sales at lower prices?

The market can only sustain what people can afford. Can't see wage inflation happening whilst globalisation is doing the opposite.

[Bumfluff]

You ain't gonna change it AtW.

You've got a situation where your savings are going to be worth more today than in the future due to currency debasement and high inflation.

Normally you'd expect high interest rates to compensate for this, but it's absolutely clear we aren't going to see this for many many years.

Therefore, if you can borrow cheaply now (with a big deposit) at very low rates (example HSBC tracker is 2.6% APR) you'd be mad not to grab a physical asset like a house now, even if the purchase price seems steep, since the overall cost will be low compared to a cheap house when base rates are 15%.

I hope this makes sense to your communist mind.

Got to be honest I really don't understand this is all, my current situation is I stuck all my savings into an offset mortgage and have now completely offset it, considering the economy and future economy is the best thing then for my savings, I was thinking of pulling some out and buying some shares etc while prices are low ?