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Previously on "House prices set for double-digit increase, Nationwide predicts"
I've made decision to avoid getting into serious debt - could not have afforded good house in area I wanted (where I can afford to rent), better rent in a nice place than "own" a house in a tulipe one.
Ideal is to own one in a good place for sure, but it was either invest money into SKA or into house. A no brainer really if you have brains.
I've made decision to avoid getting into serious debt - could not have afforded good house in area I wanted (where I can afford to rent), better rent in a nice place than "own" a house in a tulipe one.
Ideal is to own one in a good place for sure, but it was either invest money into SKA or into house. A no brainer really if you have brains.
Still missed out on a small fortune though, but would you have left the money in a Cyprus bank when the news was all about banks failing and a run on banks etc?
No, I wouldn't keep them in Cyprus bank, despite it probably being the safest bank in the world thanks to Russian mafia keeping their cash there.
But I'd move them to euro account in a good UK bank or at least would have split them in such a way that currency risk is hedged.
But then again I've got a Soviet degree in finance and credit, what can I possibly know about these things?
That's true actually - he sold his European property at the peak of GBP vs EUR, shortly after conversion of his dirty spekulative euros the GBP collapsed ...
It's not funny actually but I can't help but to
I exchanged my EUR to GBP at 1.26, so nowhere near peak.
Still missed out on a small fortune though, but would you have left the money in a Cyprus bank when the news was all about banks failing and a run on banks etc?
That's true actually - he sold his European property at the peak of GBP vs EUR, shortly after conversion of his dirty spekulative euros the GBP collapsed ...
It amazes me that loads more people aren't drowning in debt. Many of the items in that list have more than doubled in the last ten years, whereas average salaries have hardly budged.
I think there are more people drowning in debt that we currently realise. I'm sure I read something recently about the number of people paying their mortgage with a credit card. Link.
There's a debt crisis out there that hasn't yet come home to roost. I think there are lots of people hanging on by a thread. If interest rates rise, it'll be a disaster for those people (although credit card rates are still outrageously high).
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