maxmaximus Posted March 25, 2013 Share Posted March 25, 2013 todays average wage is around £500pw,which give a couple the chance of a mortgage for around £90000 once the deposit is saved,also interest rate is as low as it gets at the moment,so its a good time to buy Problem with todays society is that theirs more stuff to spend your money on,average wages are not much lower than in recent years by comparison,its just that peolple want more stuff which they dont actually need:help: Only if you can fix the rate for the life of the mortgage. It’s a bad time to buy when interests rates can only go up, a £20K house with high interest rates is a safer buy than a £80K house on low interest rates. Link to comment Share on other sites More sharing options...
BIGDINNERS Posted March 25, 2013 Share Posted March 25, 2013 Only if you can fix the rate for the life of the mortgage. It’s a bad time to buy when interests rates can only go up, a £20K house with high interest rates is a safer buy than a £80K house on low interest rates. Sorry but cant work that one out:confused:are you saying interest rates are better if they are higher:huh: ---------- Post added 25-03-2013 at 08:47 ---------- Will people stop thinking and saying that buying and owning a house is the be-all-and-end-all of life. It isn't. your right,it isn't,but its a lot better than renting,either private or council,and you have something to show at the end of it. Unless of course your aim in life is to go through it with no assets or belongings,that way when it comes to the end of stay on this earth,you can get the government to pay for your upkeep instead of paying for it yourself, hhmm makes sense now:suspect: Link to comment Share on other sites More sharing options...
cuttsie Posted March 25, 2013 Share Posted March 25, 2013 Rubbish:loopy:,you couldn't walk into any job you wanted otherwise we'd all be company bosses or astronauts,we took the first job that was given us,then moved jobs when they came up. There are plenty of jobs knocking about these days,its just that people dont want to take em ,either cos it doesn't suit their lifestyle or their better off on benefits,or for most school leavers,they a encouraged to go to college and get further qualifications which are often useless when they come to find a job. It is not rubbish or loopy . When we left school in the fifty's and early sixties employers were falling over themselves for our services in Steel, The pits, Cutlery works and Offices. Some of us did become Company bosses although as far as I know there has only been one astronaught. Link to comment Share on other sites More sharing options...
maxmaximus Posted March 25, 2013 Share Posted March 25, 2013 Sorry but cant work that one out:confused:are you saying interest rates are better if they are higher:huh: Low mortgage rates and easy credit caused the housing bubble which increased house prices. I bought a house when interest rates were high; interest rates were only likely to go in one direction, down. Buy the same house now and it will cost 6 times as much because interest are low and can only go in one direction, up. My mortgage could only get cheaper; the mortgage of today’s buyer can only get more expensive. a. House costs £20K interest at 10% is £2000 b. Same house £40K interest at 5% is £2000 c. Same house £80K interest at 2.5% is £2000 Which ever house you buy you get the same house and pay the same interest, but house a. is the safest option. Link to comment Share on other sites More sharing options...
BIGDINNERS Posted March 25, 2013 Share Posted March 25, 2013 It is not rubbish or loopy . When we left school in the fifty's and early sixties employers were falling over themselves for our services in Steel, The pits, Cutlery works and Offices. Some of us did become Company bosses although as far as I know there has only been one astronaught. It is rubbish,your trying to tell me that if people had the option of choosing which job they could have,any job in the world,they would choose working in a mine or a factory or a steel works, these were jobs which were given to you when you left school,and you were happy to do them and stick at them for a wage at the end of the week rather than do nothing at all. ---------- Post added 25-03-2013 at 09:12 ---------- Low mortgage rates and easy credit caused the housing bubble which increased house prices. I bought a house when interest rates were high; interest rates were only likely to go in one direction, down. Buy the same house now and it will cost 6 times as much because interest are low and can only go in one direction, up. My mortgage could only get cheaper; the mortgage of today’s buyer can only get more expensive. a. House costs £20K interest at 10% is £2000 b. Same house £40K interest at 5% is £2000 c. Same house £80K interest at 2.5% is £2000 Which ever house you buy you get the same house and pay the same interest, but house a. is the safest option. still cant work with ya on this,your not going to get a house for 20k,maybe 40k in a ghetto,so your only option is to take house c,which at the moment has an interest rate of 2.5%,which is better than an interest rate of 2.6% Are you saying take an interest rate of 10% rather than 2.5% and watch that go up Link to comment Share on other sites More sharing options...
maxmaximus Posted March 25, 2013 Share Posted March 25, 2013 still cant work with ya on this,your not going to get a house for 20k,maybe 40k in a ghetto,so your only option is to take house c,which at the moment has an interest rate of 2.5%,which is better than an interest rate of 2.6% Are you saying take an interest rate of 10% rather than 2.5% and watch that go up In my example, a. b. and c. are the same house, given the choice of buying that house for £20K or £80K I would choose £20K with the higher interest rate. Link to comment Share on other sites More sharing options...
Shef_Fitness Posted March 25, 2013 Share Posted March 25, 2013 Don't know how people can say things are pro rata for the young. I managed to buy my own home in my early 20s on a part time wage. These days young people need 2 full time salarys just to buy anything so its hardly pro rata. If I had to buy a home now I wouldn't have a prayer, at least back in 1999/2000 a wage would easily cover a home, even a part time wage. People who say money is not important and "do the things you want to do in life" are talking balls, clearly people who go off like this have plenty of spare cash. Lets say you decided to go traveling around the world (I wouldn't mind doing that), how can you do that if you haven't got any money to buy food? Until someone tells me how to buy things without food, or plane tickets, train tickets without money then I guess like 95% of the population I am stuck to the working treadmill. ---------- Post added 25-03-2013 at 10:23 ---------- a. House costs £20K interest at 10% is £2000 b. Same house £40K interest at 5% is £2000 c. Same house £80K interest at 2.5% is £2000 . House A is the better option, if you save up a deposit of £10,000 then thats 50% of the mortgage paid. If you put £10,000 onto house C then you have £70,000 left to pay. Its obvious which is the better option. Look back 10 or 15 years ago, working people weren't priced ut of the housing market. Can't see many part time workers buying property in 2013. Link to comment Share on other sites More sharing options...
BIGDINNERS Posted March 25, 2013 Share Posted March 25, 2013 In my example, a. b. and c. are the same house, given the choice of buying that house for £20K or £80K I would choose £20K with the higher interest rate. Oh I see now,your using the dreamworld as an example. Of course the house at 20k with 10% interest is the better option,but 1 simple fact is that you cannot buy a house in this country for 20k and have not been able to for decades. your way of thinking also promotes the option of buying house 'c' for 80k with 10% interest,when you could get it at 2.5% No wonder the country's on its knees:loopy: Link to comment Share on other sites More sharing options...
FACEBOOK Posted March 25, 2013 Share Posted March 25, 2013 Until someone tells me how to buy things without food, or plane tickets, train tickets without money then I guess like 95% of the population I am stuck to the working treadmill. OR, consider you work in one of the most insatiable niche markets on the planet. How much is spent globally on fitness crazes, fads and equipment. I'm sure you could come up with a fitness product of some sort to sell to this crazy marketplace. If you only sold 2000 units per year at £49.99 that's £100,000 for one product. Just saying. Link to comment Share on other sites More sharing options...
max Posted March 25, 2013 Share Posted March 25, 2013 Oh I see now,your using the dreamworld as an example. Of course the house at 20k with 10% interest is the better option,but 1 simple fact is that you cannot buy a house in this country for 20k and have not been able to for decades. your way of thinking also promotes the option of buying house 'c' for 80k with 10% interest,when you could get it at 2.5% No wonder the country's on its knees:loopy: The other consideration is that if you stretch yourselves financially to buy a house with a 2.5% mortgage then, if the rates go up, you may find yourselves struggling. Paying £500 pcm mortgage seems OK but if that goes up to £750, for instance, then sacrifices may need to be made. Link to comment Share on other sites More sharing options...
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