Is moneyweek worth signing up for or merely perusing in the magazine section of a the local supermarket as one would do with a car mag?
Yeh, the world may be going to well in a handcart and property prices may be falling.
If the wheels do drop off (and I expect they will) and gold rips to any where near $4000-8000 an ounce then i'd expect both sterling and the dollar to have the purchasing power of roughly half what it is today if it reaches that level. Salaries will have to rise almost as much and this is when houseprices so long as they stagnate will return to sensible earnings multiples. There will be short term pain but if you are going to invest in gold then you may as well invest in a property using an old fashioned head on old fashioned multiples and choose a well built **older** home in a nice area with low unemployment and outstanding schools.
If the house is your home and you are happy and can continue paying the mortgage at higher rates then indeed stay put unless you have to move. If however you have spare property, do not need or want to stay in your house or are considering buying then getting/keeping out of property seems to make sense if you can get within 10% of last years price as a seller or unless you can get 20% off last years price as a buyer. Of course if you are a seller who can no longer afford repaying the debt or are coming to the end of your 2 year smi payments in January then you probably don't have a choice.
It's aimed at investors rather than OOs. But it is blatantly selling the magazine. Still can't complain.
when the last pm was in power, whatever his name was, he claimed to have "Helped" 350,000 stay in their homes with mortgage assistance.
how many is it now?
good advice, but hundreds of thousands are not taking it, while millions are paying.
Im sure the PTB are in gold if your prediction is true, and they will blow that up when they so choose.
For a lot of us, owning a house is more than a speculative investment. We bought our houses to live in. If you own your house you're more free to do with it what you like and you're not lining a landlord's pocket every month - if you own your house outright then you're not lining anyone's pocket every month.
House prices look set to drop but not dramatically - maybe 10% max. over the next year or two.
I'd say more like 25% and 2 years.
This advert has been doing the rounds for about 5 years now. The EXACT same advert.
the cost of borrowing in the next 6 months. And with rentals soon be attacked from the government side, the monthly rent v mortgage sum.
Well, maybe. But What I mean is that we're not going to see changes of scale in house prices, like halving or 75%. Buying a house won't become much easier in financial terms for a lot of people, even if it's easirt to get a mortgage. Anyway, by the time prices have dropped by 25%, wages might have dropped too and interest rates will probably be on the rise.
rationalise, threaten, deny, and generally talk b*llocks. How big is you mortage anyway?
I also wonder whether I should get out of LLOY and BDEV. Got stakes in those at 63p and 83p, respectively. Would make a small loss on BDEV but could be worth it.
I agree. But the 'Get out of property now' is addressed to property investors, I believe.