John Doe

While a few might move that often, the vast majority, especially those with families certainly don't. Besides, you'll see I didn't increase the rent figure over 25 years (fat chance of rents staying the same, wouldn't you say?) to make it a more realistic comparison. So whilst it's true interest rates will rise at some point, increasing the mortgage repayments, the cost of moving to long term fixed rates will be far less than the corresponding rent increases over that period. More like the real world?

No you don't, but, however you look at it, once that big ole mortgage is paid off, the interest payments (or rent to the bank, as such) stop, finito, end of. (To be precise, you could just say the house cost you more (mortgage principle + deposit + interest) The rent to a landlord goes on as long as you do, i.e. forever in your frame of reference. first 25 years paying a repayment mortgage at 1000 per month = 300,000 first 25 years paying eq house type rent = 300,000 next 10 years of owning = 0 next 10 years of renting = 120,000 (assuming no rent increases over that time, however unlikely that is) Also, once the mortgage is paid off, (or indeed as soon as equity has been built up) that house is an asset. You can't leave a rented place to your kids/friends/charity etc. Of course, in the same way, it's a potential* liability when prices are falling like now . Time and a place for everything .

Well yes, in a way it is, yet the rent paid to a landlord is forever, the interest paid to the bank is only for the length of the (repayment) mortgage. That's the difference that should be pointed out, not the rent being money down the drain crap. Of course, they could just (rightly) point out that renting is paying of the landlords mortgage, whereas buying is paying off your mortgage However, with prices still going down, if you can, and if you’re in a place you like, it’s best to keep renting from a purely financial perspective.

And they're..........................................up! (a whopping 0.3% MoM (Down 0.7% YoY))

So, we could sell our houses here, and buy whole villages in France or Spain! Nice

What are you on about Van? Haven't you seen UK families take-home incomes are UP this year! http://uk.finance.yahoo.com/news/home-pay-increases-070103748.html At this rate, they'll be inflation beating soon (But don't be a single parent, their incomes are down 8% )

Especially if they go ahead with this! Eurobonds with a twist. http://www.telegraph.co.uk/finance/financialcrisis/9298180/Europes-debtors-must-pawn-their-gold-for-Eurobond-Redemption.html Crisis over! (Aagain ) Of course, if it could actually work now, they'll only go and p*ss about for months and months, so it'll probably be too late to do any good anyway

Indeed. Unless of course the financial collapse some here imagine actually arrives, then they'll print to the moon and back, and the masses will get their wage rises, they'll pay off their fixed mortgages and then, once they've paid off their £200,000 monthly heating bill etc, they'll probably even have enough left over to buy a loaf of bread a week

So much for all the talk of the end of stamp duty. BoE says mortgage approvals UP again in April. http://www.fxstreet.com/news/forex-news/article.aspx?storyid=603e4346-d8c7-48c4-b9bd-accea26d5e2d Mutuals mortgage lending UP again in April (and their market share up big time). As the big old banks cut back, the mutuals are jumping in. Or perhaps it's just a rush for assets, borrowing at long term fixed rates and hoping for an inflationary (wage) spike?

There are some great graphs from FreeTrader on HPC showing how real incomes have fallen over the last few years (and other stuff). http://www.housepricecrash.co.uk/forum/index.php?showtopic=152362&view=findpost&p=909016456 Back to Dec 2001 in real terms!

Quick question. If each year there are about a quarter of a million people (NET) more living in the UK, then, assuming they are not all children and pensioners, where the hell are all the jobs coming from to stop the unemployment numbers going through the roof?

Yeah I heard about that. Still, if they bring the sun with them........

Immigration up again! Another 250,000 NET incoming. http://www.dailymail.co.uk/news/article-2149572/The-broken-pledges-immigration-Coalition-promised-cut-net-migration-100-000-Yesterday-hit-252-000.html Now where are they all going to live?

Yet someones doing alright. http://uk.finance.yahoo.com/news/nationwide-gives-boost-home-loans-075021382.html Quite right, customer owned, no shareholders and doing well! (Also very careful who they lend to )

Looks like quite a drop already on the HPC graph. http://www.housepricecrash.co.uk/indices-nationwide-national-inflation.php Could go a little lower for sure, but wouldn't expect too much more unless a real crisis hits. There's been a scare, but Greece has had it's bluff called, and looks like they'll vote the austerity parties back in, stay in the Euro, and the charade will go on (until the next wobble).

That's EXACTLY what we do, but we also have a couple friends in the trade that let us use their accounts at certain merchants (Howdens, Jewsons, CEF etc) so we can get their discounts too (works for them too, as more money being spent through their accounts = more discounts for them). But it's the same re job prices here. I can't believe some of the quotes neighbors and friends at work are getting, shocking doesn't even start to cut it . Some are so crazy that I have even considered changing career (and going back to where I started, in the building trade as a youth). With the tradesmen we have got to know over the years, I could have the jobs done far cheaper, save my friends money and still make a good living. Although, with all the s**t hitting the fan at the moment, I might wait until next year

Then why doesn't it show up on BofE mortgage approvals numbers (much much larger sample), or even Nationwiide's data? Another 10% off should put it back near fair value then

2.4% DROP on the MoM Halifax figures! (Although, not so impressive when you consider the 2.2% rise they reported last month). Bit choppy to say the least Flawed data collection/interpretation model, or a sign of low transactions and reducing market share? http://uk.finance.ya...-090611241.html

I agree the comments are useless, but they are also very wrong. The vast majority of young people are not choosing to rent (just a few savy ones). The rest would buy at the drop of a hat if they could. They just have no choice because mortgages are not available to them (as they haven't saved enough deposit).

Nationwide -0.2% (NSA up again) Boring http://www.bbc.co.uk/news/business-17923907

Seems the end of the stamp duty holiday might not have had such an effect after all. http://uk.finance.yahoo.com/news/uk-march-mortgage-approvals-rise-083034627.html Wonder how long it will keep going, or rather, how long rates will stay stupidly low?

Meanwhile, from the Telegraph..... http://www.telegraph.co.uk/finance/recession/9233781/Double-dip-recession-to-trigger-house-price-fall.html

http://www.express.co.uk/posts/view/316951/-64-a-day-rise-in-house-prices Gotta love the Express's front page, few weeks back they were falling through the floor Can't wait till the HPC brigade start hitting the comments setion

Haven't about half of all EA branches around in 2007 in the UK now closed?

What, up about 50% since the start of the year?