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TOPIC: Probably the biggest piece of news in human history but don't expect the MSM to publish it

Probably the biggest piece of news in human history but don't expect the MSM to publish it 23 Aug 2013 20:32 #21

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Gilly wrote:
mikey mikey wrote:
I read that differently Gilly. I think he was talking about people who buy just to sell later at a higher price. I don't think he meant any and every house buyer was a dick head

I think he did, and nobody mentioned buying just to sell at a profit before his post- but I'm sure he'll correct me if that's not the case. Fairly hypocritical too, considering he posted previously about having made enough money from a house sale to pay off other debts.

The house I bought was well under 3x my salary. I paid it off in full.

NB: 25k 100% repayment mortgage.
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Last Edit: 23 Aug 2013 20:36 by andyh.
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Probably the biggest piece of news in human history but don't expect the MSM to publish it 23 Aug 2013 20:44 #22

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You might be forgetting that your line of work pays better than a hell of a lot - and not everyone has the ability to obtain highly paid employment. That's just a fact of life.
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Probably the biggest piece of news in human history but don't expect the MSM to publish it 23 Aug 2013 20:46 #23

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andyh wrote:
Gilly wrote:
andyh wrote:
Then they are dickheads.

People who've chosen to spend their working lives investing a big chunk of their income into a home, to pass down the family line are not dickheads.

And since you're already aware that I have a mortgage, I don't much appreciate your calling me a dickhead because I don't agree with your view. Your differing view doesn't make you a dickhead in my opinion, but your comment makes you a smug, arrogant git.

As mikey says above, it was pretty clear it was referring to buy to let and for profit.
If you have a mortgage and you keep it and pay it all off and actually live in it, then fine.

If on the other hand you're buying multiple houses on the back of banks to profit then it's different, the same also applies to people who put themselves way in over their heads to ever repay it fully.

It wasn't clear at all, since nobody had mentioned buying multiple houses on the back of banks.
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Probably the biggest piece of news in human history but don't expect the MSM to publish it 23 Aug 2013 20:47 #24

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Actually as an aside its worth noting that the bank made 15000 quid profit, the lawyers made 2000 quid and the estate agents made 1200.

I made just under a grand cash 'profit' after paying several times that amount to the bank to live there during my tenancy.

Pointless1
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Probably the biggest piece of news in human history but don't expect the MSM to publish it 23 Aug 2013 20:48 #25

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Gilly wrote:
You might be forgetting that your line of work pays better than a hell of a lot - and not everyone has the ability to obtain highly paid employment. That's just a fact of life.

All the more so they shouldn't enter into a contract they cannot fulfil, more than 3x salary = stick to renting.
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Probably the biggest piece of news in human history but don't expect the MSM to publish it 23 Aug 2013 20:48 #26

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Article 2274914 1767C34C000005DC 434 468x416
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Probably the biggest piece of news in human history but don't expect the MSM to publish it 23 Aug 2013 20:49 #27

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Gilly wrote:
andyh wrote:
Gilly wrote:
andyh wrote:
Then they are dickheads.

People who've chosen to spend their working lives investing a big chunk of their income into a home, to pass down the family line are not dickheads.

And since you're already aware that I have a mortgage, I don't much appreciate your calling me a dickhead because I don't agree with your view. Your differing view doesn't make you a dickhead in my opinion, but your comment makes you a smug, arrogant git.

As mikey says above, it was pretty clear it was referring to buy to let and for profit.
If you have a mortgage and you keep it and pay it all off and actually live in it, then fine.

If on the other hand you're buying multiple houses on the back of banks to profit then it's different, the same also applies to people who put themselves way in over their heads to ever repay it fully.

It wasn't clear at all, since nobody had mentioned buying multiple houses on the back of banks.

And nothing in your post said you had a mortgage greater than 3x your salary. Just a mortgage.
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Probably the biggest piece of news in human history but don't expect the MSM to publish it 23 Aug 2013 20:52 #28

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Gilly wrote:
You might be forgetting that your line of work pays better than a hell of a lot - and not everyone has the ability to obtain highly paid employment. That's just a fact of life.

25000/3=8333 pa. This was 2004 and 8333 in 2004 was not 'high paid employment' Gilly.
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Probably the biggest piece of news in human history but don't expect the MSM to publish it 23 Aug 2013 20:53 #29

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mikey mikey wrote:
Article 2274914 1767C34C000005DC 434 468x416

Already has happened, lol :)

The banks just gave out 10x your salary mortgages instead
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Probably the biggest piece of news in human history but don't expect the MSM to publish it 23 Aug 2013 20:55 #30

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So what? Some people see bricks & morter as an investment - some win, others don't. Some just want the security, as much for their kids as anything. Taking into account too that when I took out a mortgage, I'd been paying fractionally more previously in rent for a house that wasn't as nice, in an area that wasn't as nice, which I left with bugger all in my pocket, I'd say purchasing a house is a valid option and not something to be scathing about. Each to his own.
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Probably the biggest piece of news in human history but don't expect the MSM to publish it 23 Aug 2013 20:56 #31

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Gilly wrote:
So what? Some people see bricks & morter as an investment - some win, others don't. Some just want the security, as much for their kids as anything. Taking into account too that when I took out a mortgage, I'd been paying fractionally more previously in rent for a house that wasn't as nice, in an area that wasn't as nice, which I left with bugger all in my pocket, I'd say purchasing a house is a valid option and not something to be scathing about. Each to his own.

Depends if you can afford it, lol! :)

Its not an investment for YOU if YOU can't afford it is it? Its an investment for the bank....
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Probably the biggest piece of news in human history but don't expect the MSM to publish it 23 Aug 2013 20:58 #32

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Even that depends, doesn't it. That's what I was getting at - if you find you're struggling and can sell up, you could end up with a lump of equity that you wouldn't have had. I've known plenty of folk in that position. :P
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Probably the biggest piece of news in human history but don't expect the MSM to publish it 23 Aug 2013 20:59 #33

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Gilly wrote:
Even that depends, doesn't it. That's what I was getting at - if you find you're struggling and can sell up, you could end up with a lump of equity that you wouldn't have had. I've known plenty of folk in that position. :P

If you paid cash for it in 1 go without a mortgage and you didn't use a lawyer or an estate agency then yes you would :D
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Probably the biggest piece of news in human history but don't expect the MSM to publish it 23 Aug 2013 21:00 #34

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andyh wrote:
Gilly wrote:
andyh wrote:
Gilly wrote:
andyh wrote:
Then they are dickheads.

People who've chosen to spend their working lives investing a big chunk of their income into a home, to pass down the family line are not dickheads.

And since you're already aware that I have a mortgage, I don't much appreciate your calling me a dickhead because I don't agree with your view. Your differing view doesn't make you a dickhead in my opinion, but your comment makes you a smug, arrogant git.

As mikey says above, it was pretty clear it was referring to buy to let and for profit.
If you have a mortgage and you keep it and pay it all off and actually live in it, then fine.

If on the other hand you're buying multiple houses on the back of banks to profit then it's different, the same also applies to people who put themselves way in over their heads to ever repay it fully.

It wasn't clear at all, since nobody had mentioned buying multiple houses on the back of banks.

And nothing in your post said you had a mortgage greater than 3x your salary. Just a mortgage.

I don't have a mortgage greater than 3 x our combined income. We've been here before. It boils down to not knowing what your salary might be in the future, but none of us knows that.

Frick - you're posting stuff too quick for me to keep up! :mad:



:D
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Probably the biggest piece of news in human history but don't expect the MSM to publish it 23 Aug 2013 21:01 #35

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Gilly wrote:

I don't have a mortgage greater than 3 x our combined income.

Then how the fuck does it apply to you?
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Probably the biggest piece of news in human history but don't expect the MSM to publish it 23 Aug 2013 21:04 #36

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andyh wrote:
Gilly wrote:
Even that depends, doesn't it. That's what I was getting at - if you find you're struggling and can sell up, you could end up with a lump of equity that you wouldn't have had. I've known plenty of folk in that position. :P

If you paid cash for it in 1 go without a mortgage and you didn't use a lawyer or an estate agency then yes you would :D

Well there I've got you, 'cause the people I know who've been in that position did have mortgages, & did use conveyancing solicitors & estate agents, but still ended up with a wedge in their arse pockets. So there! Now sod off, I'm tired & going to pour a nice stiff drink. :chug:

I think it's over well over month since I had any alcohol.
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Probably the biggest piece of news in human history but don't expect the MSM to publish it 23 Aug 2013 21:08 #37

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Gilly wrote:
andyh wrote:
Gilly wrote:
Even that depends, doesn't it. That's what I was getting at - if you find you're struggling and can sell up, you could end up with a lump of equity that you wouldn't have had. I've known plenty of folk in that position. :P

If you paid cash for it in 1 go without a mortgage and you didn't use a lawyer or an estate agency then yes you would :D

Well there I've got you, 'cause the people I know who've been in that position did have mortgages, & did use conveyancing solicitors & estate agents, but still ended up with a wedge in their arse pockets. So there! Now sod off, I'm tired & going to pour a nice stiff drink. :chug:

I think it's over well over month since I had any alcohol.

And how longs that situation going to last?
Until houses are 20x salary? 30x?

Were they in London ffs lol? :)

Did they make money ON TOP of the mortgage payments they'd already made to the bank or did that just get forgotten about? :p

There are only losers in that game, especially the ones daft enough to pay over the odds, the Germans have the right idea.

www.irishexaminer.com/breakingnews/irela...-arrears-604594.html

^Obviously it never happened and they're all profiting forever.
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Last Edit: 23 Aug 2013 21:11 by andyh.
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Probably the biggest piece of news in human history but don't expect the MSM to publish it 23 Aug 2013 21:10 #38

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andyh wrote:
Gilly wrote:

I don't have a mortgage greater than 3 x our combined income.

Then how the fuck does it apply to you?

Because when I defended people for having mortgages, generally, without stipulating any details like cost to wage ratios, you said they were dickheads, without any caveat about the mathematics of it - implying it applied to every mortgagee across the board. Which is the impression I've also picked up in previous conversations on this subject.

To be fair, mentioning DG's views on it was naughty. He illustrated a property for sale that was a good low price, and people started being all snobby because it was a terrace.

Don't make me want to anwser you again till I've been to the kitchen to find booze.
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Probably the biggest piece of news in human history but don't expect the MSM to publish it 23 Aug 2013 21:12 #39

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Gilly wrote:
andyh wrote:
Gilly wrote:

I don't have a mortgage greater than 3 x our combined income.

Then how the fuck does it apply to you?

Because when I defended people for having mortgages, generally, without stipulating any details like cost to wage ratios, you said they were dickheads, without any caveat about the mathematics of it - implying it applied to every mortgagee across the board..

sanctumzone.co.uk/forum/todays-news/9281....html?quote=1#143799
You cannot buy a house that is more than 3x your salary, period.

You even quoted it yourself!!

:drl:
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Last Edit: 23 Aug 2013 21:14 by andyh.
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Probably the biggest piece of news in human history but don't expect the MSM to publish it 23 Aug 2013 21:15 #40

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andyh wrote:
Gilly wrote:
andyh wrote:
Gilly wrote:
Even that depends, doesn't it. That's what I was getting at - if you find you're struggling and can sell up, you could end up with a lump of equity that you wouldn't have had. I've known plenty of folk in that position. :P

If you paid cash for it in 1 go without a mortgage and you didn't use a lawyer or an estate agency then yes you would :D

Well there I've got you, 'cause the people I know who've been in that position did have mortgages, & did use conveyancing solicitors & estate agents, but still ended up with a wedge in their arse pockets. So there! Now sod off, I'm tired & going to pour a nice stiff drink. :chug:

I think it's over well over month since I had any alcohol.

And how longs that situation going to last?
Until houses are 20x salary? 30x?

Were they in London ffs lol? :)

Did they make money ON TOP of the mortgage payments they'd already made to the bank or did that just get forgotten about? :p

There are only losers in that game, especially the ones daft enough to pay over the odds, the Germans have the right idea.

www.irishexaminer.com/breakingnews/irela...-arrears-604594.html

^Obviously it never happened and they're all profiting forever.

See, nobody's saying there haven't been disasters, or that everyone profits. It's just that your observation that I first responded to - something that I can''t recall accurately now, but along the lines of, nobody can do well out of it, was wrong.

No, I don't know anyone who lives in London - just the north west & north east.
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