Beware the imminent housing bubble
#61
Re: Beware the imminent housing bubble
I agree as one base statistic used with others (like average mortgage), but it is often used in examples in an inappropriate way. As if it is normal in a housing market for Joe Bloggs on an average wage with no equity to be able to afford an average house.
Last edited by fish.01; Feb 15th 2011 at 11:35 pm.
#62
BE Forum Addict
Joined: Mar 2009
Posts: 1,412
Re: Beware the imminent housing bubble
Yes, to extrapolate and suggest that this multiple should be 3 or 4 based on prudent lending criteria would be false. It is a mistake that is sometimes made. There was a discussion on this point here recently.
#63
Re: Beware the imminent housing bubble
They're completely different situations. That is more akin to saving and is certainly preferable to carrying massive debt. Whether it beats renting is subjective.
When I die, I want my will to include a house, not a phone number for my landlord.
Who pours vitriol on who?
Who has not revealed their own situation?
I think you may be missing a few dots. These straw men arguments based on false assumptions are poor debate.
Meanwhile, they talk up the benefits of renting (and yes, there are plenty of benefits to renting), while insinuating that they can't wait to see people losing their homes when the bubble bursts.
#64
BE Forum Addict
Joined: Mar 2009
Posts: 1,412
Re: Beware the imminent housing bubble
I've never owned residential property, I do have an interest in blue chip commercial property but that's about all I have to say on that.
#65
Re: Beware the imminent housing bubble
I nearly bought a chip shop, only that the chips were golden brown and not blue - does that count?