coppercrutch Posted March 6, 2008 Share Posted March 6, 2008 This thread is immense. FACT. You are correct, and you started it !! Although it was sort of hijacked by certain posters. I am going to keep it going until people see the truth. To be honest I don't think that will take too long. This time next year I won't have to do this myself. There will be countless other posters doing it regularly. So what you going to do with yourself now Remax is out of the question ? Link to comment Share on other sites More sharing options...
Domokun Posted March 6, 2008 Author Share Posted March 6, 2008 You are correct, and you started it !! Although it was sort of hijacked by certain posters. I am going to keep it going until people see the truth. To be honest I don't think that will take too long. This time next year I won't have to do this myself. There will be countless other posters doing it regularly. So what you going to do with yourself now Remax is out of the question ? I'm gonna keep fighting the good fight. I've got people to knock over day-in, day-out for a main course. I don't need those hobos. Still looking for a side dish that'll pay for my Lear Jet. Greed is good. Link to comment Share on other sites More sharing options...
coppercrutch Posted March 6, 2008 Share Posted March 6, 2008 I'm gonna keep fighting the good fight. I've got people to knock over day-in, day-out for a main course. I don't need those hobos. Still looking for a side dish that'll pay for my Lear Jet. Greed is good. So what do you actually do ? WWE. Are you the big show Link to comment Share on other sites More sharing options...
Meadows Posted March 6, 2008 Share Posted March 6, 2008 Coppercrutch....As someone who has 2 residential mortgages, 2 BTL's AND 2 commercial mortgages, should i head for the hills, invest in some adult nappies or sit tight. is it safe to sleep at night? Or should i keep awake with worry? This is mostly a serious question;) Link to comment Share on other sites More sharing options...
Domokun Posted March 6, 2008 Author Share Posted March 6, 2008 So what do you actually do ? WWE. Are you the big show No, I'm a 'meals on wheels' delivery driver. Link to comment Share on other sites More sharing options...
Domokun Posted March 6, 2008 Author Share Posted March 6, 2008 Something I've been pondering....If one's rent is ?500 pcm that is ?6000 pa of money one will never get back, ever, regardless of market fluctuations. Money well spent IMO, as one will buy property when it's cheaper. Link to comment Share on other sites More sharing options...
coppercrutch Posted March 6, 2008 Share Posted March 6, 2008 Coppercrutch....As someone who has 2 residential mortgages, 2 BTL's AND 2 commercial mortgages, should i head for the hills, invest in some adult nappies or sit tight.is it safe to sleep at night? Or should i keep awake with worry? This is mostly a serious question;) I would hope you have a decent amount in equity. Anything less than 30% and you may well be in negative equity within a few years. Of course if these were mostly bought years ago then you will be fine. Funny thing is I imagine you would describe yourself as a homeowner? When in fact you are a debt owner. When you pay off your mortgages you will become a homeowner. Something most people don't really think about. I saw some programme on TV with this young couple who had just bought their first house on a 100% mortgage. As they walked through the door their first words were "We are now homeowners". These people didn't even own the key to the front door never mind the house. I have never quite worked out this delusion. Link to comment Share on other sites More sharing options...
davemclaren Posted March 6, 2008 Share Posted March 6, 2008 I would hope you have a decent amount in equity. Anything less than 30% and you may well be in negative equity within a few years. Of course if these were mostly bought years ago then you will be fine. Funny thing is I imagine you would describe yourself as a homeowner? When in fact you are a debt owner. When you pay off your mortgages you will become a homeowner. Something most people don't really think about. I saw some programme on TV with this young couple who had just bought their first house on a 100% mortgage. As they walked through the door their first words were "We are now homeowners". These people didn't even own the key to the front door never mind the house. I have never quite worked out this delusion. He's an investor. Property is an investment but like all investments that can deliver above average returns it isn't sure fire. Link to comment Share on other sites More sharing options...
coppercrutch Posted March 6, 2008 Share Posted March 6, 2008 Something I've been pondering....If one's rent is ?500 pcm that is ?6000 pa of money one will never get back, ever, regardless of market fluctuations. Money well spent IMO, as one will buy property when it's cheaper. On the other side of the coin if you get a mortgage for 200k you will end up paying the bank something like 200k in interest. Again this is something people don't really think about for some reason. Sometimes buying makes sense, sometimes renting makes sense. At the moment renting makes complete sense IMO. To rent a one bed flat in Gorgie it will cost you about ?500 PM. To buy the same flat on a 100% mortgage it will cost you about ?850 PM. Save the difference for a year and you will have about ?4500 including interest. If the flat goes up by more than ?4500 you are better off buying. If the flat stays the same price you are better of renting. If the flat goes down by any amount you are way, way, way better of renting. And by my reckoning these flats will be down by 30+% in a few years. So in my opinion renting now makes perfect sense. Buying is just asking for trouble if you ask me. Just think, if these flats go down by about 5k per year (Very possible), at the same time as your savings go up by about 5k per year(Very possible) - Within 5 years the overall difference to your pocket could be 50k. All if's of course. But all the signs are there. Link to comment Share on other sites More sharing options...
coppercrutch Posted March 6, 2008 Share Posted March 6, 2008 He's an investor. Property is an investment but like all investments that can deliver above average returns it isn't sure fire. Yes and investments go in cycles. The boom in property investing has ended. Let's just hope he wasn't late to the party, or he is so minted he can wait years for his investments to come good..... That's why I think I may be onto a good thing with gold. Your average punter hasn't even considered getting into gold yet. When that happens it will really take off. Maybe. Link to comment Share on other sites More sharing options...
heart of lothian Posted March 6, 2008 Share Posted March 6, 2008 Something I've been pondering....If one's rent is ?500 pcm that is ?6000 pa of money one will never get back, ever, regardless of market fluctuations. Money well spent IMO, as one will buy property when it's cheaper. Taking into account the money that it cost to buy and maintain a house, then renting the best bet in a falling market, esp when for ?500 you are getting a property which is worth around ?140000+ which would cost about ?750+ to mortgage. Its because of this that I am renting for the first time in 15 years. Link to comment Share on other sites More sharing options...
davemclaren Posted March 6, 2008 Share Posted March 6, 2008 Yes and investments go in cycles. The boom in property investing has ended. Let's just hope he wasn't late to the party, or he is so minted he can wait years for his investments to come good..... That's why I think I may be onto a good thing with gold. Your average punter hasn't even considered getting into gold yet. When that happens it will really take off. Maybe. YOU can talk up gold all you want...I ain't buying to push up the price for you. Also, I do not believe that house prices will drop 30% over the next few years. Link to comment Share on other sites More sharing options...
coppercrutch Posted March 6, 2008 Share Posted March 6, 2008 No, I'm a 'meals on wheels' delivery driver. Nice, I once used to deliver pies. Free fresh hot pies every morning. Can't go wrong. Link to comment Share on other sites More sharing options...
coppercrutch Posted March 6, 2008 Share Posted March 6, 2008 YOU can talk up gold all you want...I ain't buying to push up the price for you. Also, I do not believe that house prices will drop 30% over the next few years. Not talking anything up - I don't reckon JKB is going to start any kind of gold rush !! I am just telling people where I am planning to make money. BEFORE it happens. I don't see many other posters on this site having the balls to do this. I see plenty doing it retrospectively however. But that is easy. Link to comment Share on other sites More sharing options...
Domokun Posted March 6, 2008 Author Share Posted March 6, 2008 Yes and investments go in cycles. The boom in property investing has ended. Let's just hope he wasn't late to the party, or he is so minted he can wait years for his investments to come good..... That's why I think I may be onto a good thing with gold. Your average punter hasn't even considered getting into gold yet. When that happens it will really take off. Maybe. I was reading something about a year ago hailing the projected benefits of investing in gold. Soft commodities are, apparently set to do well this year and beyond. Global population explosion, China's economic rise, increase in land used for bio-fuels are contributing to rising crop prices worldwide. I was watching the news, yesterday I think, when it pointed out that the average family's food bills have risen by over ?500 in the last 12 months. Anyhow, seems worth a punt. Link to comment Share on other sites More sharing options...
portobellojambo1 Posted March 6, 2008 Share Posted March 6, 2008 Nice, I once used to deliver pies. Free fresh hot pies every morning. Can't go wrong. That could be classed as "insider" dealing, or maybe insider eating is nearer the mark. Link to comment Share on other sites More sharing options...
Meadows Posted March 6, 2008 Share Posted March 6, 2008 I would hope you have a decent amount in equity. Anything less than 30% and you may well be in negative equity within a few years. Of course if these were mostly bought years ago then you will be fine. Funny thing is I imagine you would describe yourself as a homeowner? When in fact you are a debt owner. When you pay off your mortgages you will become a homeowner. Something most people don't really think about. As my deposits range from 15% to 30% and most are a good few years down the line the combined equity is high, the rental income is fairly attractive and the tax benefits reasonable. funnily i DONT consider myself a homeowner, i do however enjoy spending the banks money rather than my own,you get better service when they are scared to fall out with you;) Hopefully my gold coin collection will have shot up in value Link to comment Share on other sites More sharing options...
coppercrutch Posted March 6, 2008 Share Posted March 6, 2008 YOU can talk up gold all you want...I ain't buying to push up the price for you.Also, I do not believe that house prices will drop 30% over the next few years. And just to note, Edinburgh prices have already fallen over 5% from their peak in less than 6 months - with zero sign there is any momentum to take them back up.... Considering this I don't think 30%+ over 3-5 years is in any way outrageous. Link to comment Share on other sites More sharing options...
heart of lothian Posted March 6, 2008 Share Posted March 6, 2008 Yes and investments go in cycles. The boom in property investing has ended. Let's just hope he wasn't late to the party, or he is so minted he can wait years for his investments to come good..... That's why I think I may be onto a good thing with gold. Your average punter hasn't even considered getting into gold yet. When that happens it will really take off. Maybe. I was told to buy gold when it was $600, now its just below $1000 and the other day I saw it being tipped for $3500 I was to chicken to buy! IMHO the next big boom is Green/Renewable energy. Link to comment Share on other sites More sharing options...
davemclaren Posted March 6, 2008 Share Posted March 6, 2008 Not talking anything up - I don't reckon JKB is going to start any kind of gold rush !! I am just telling people where I am planning to make money. BEFORE it happens. I don't see many other posters on this site having the balls to do this. I see plenty doing it retrospectively however. But that is easy. You can buy me a pint with your astronomical gains then....remember to sell at the top of the market though. Link to comment Share on other sites More sharing options...
coppercrutch Posted March 6, 2008 Share Posted March 6, 2008 I was reading something about a year ago hailing the projected benefits of investing in gold. Soft commodities are, apparently set to do well this year and beyond. Global population explosion, China's economic rise, increase in land used for bio-fuels are contributing to rising crop prices worldwide. I was watching the news, yesterday I think, when it pointed out that the average family's food bills have risen by over ?500 in the last 12 months. Anyhow, seems worth a punt. That is all it is !! I wouldn't put any into gold I could not afford to lose. Far too volatile. Just a gamble really. As you say agriculture stocks could so very well also. But it's just a gamble all the same !! Link to comment Share on other sites More sharing options...
coppercrutch Posted March 6, 2008 Share Posted March 6, 2008 As my deposits range from 15% to 30% and most are a good few years down the line the combined equity is high, the rental income is fairly attractive and the tax benefits reasonable.funnily i DONT consider myself a homeowner, i do however enjoy spending the banks money rather than my own,you get better service when they are scared to fall out with you;) Hopefully my gold coin collection will have shot up in value Well you seem to have your head screwed on. No doubt you will be fine. You must admit there are a lot of mugs out there who may get seriously stung in the next few years though..... Link to comment Share on other sites More sharing options...
portobellojambo1 Posted March 6, 2008 Share Posted March 6, 2008 I was told to buy gold when it was $600, now its just below $1000 and the other day I saw it being tipped for $3500 I was to chicken to buy! IMHO the next big boom is Green/Renewable energy. Nah HOL, the next major boom will be in used bricks. If no fecker is going to buy new houses they will knock them all down again, then is the time to get a hold of millions of bricks, stick them in your garage and sell them back to housebuilders when the market takes off again. Link to comment Share on other sites More sharing options...
Domokun Posted March 6, 2008 Author Share Posted March 6, 2008 Taking into account the money that it cost to buy and maintain a house, then renting the best bet in a falling market, esp when for ?500 you are getting a property which is worth around ?140000+ which would cost about ?750+ to mortgage. Its because of this that I am renting for the first time in 15 years. Fair enough. Edinburgh is pretty strange in that, although prices are very high, rents are not always proportionate. I currently pay ?430 pcm for a 2 bed flat in Dunfermline that is worth just over ?105k. That's why I've been a wee bit annoyed renting, as with a 10% deposit my mortgage payments could actually be the same or slightly less than my rent. I thought rental prices are meant to be 5% of the property value per year, as a rough guideline? Your scenario is underpriced. Mine is about right I think, if the "guideline" is anything to go by. Link to comment Share on other sites More sharing options...
Domokun Posted March 6, 2008 Author Share Posted March 6, 2008 Nah HOL, the next major boom will be in used bricks. If no fecker is going to buy new houses they will knock them all down again, then is the time to get a hold of millions of bricks, stick them in your garage and sell them back to housebuilders when the market takes off again. Use the bricks to build storage facilities for more bricks, then knock them all down to build more, then.... Link to comment Share on other sites More sharing options...
davemclaren Posted March 6, 2008 Share Posted March 6, 2008 Nah HOL, the next major boom will be in used bricks. If no fecker is going to buy new houses they will knock them all down again, then is the time to get a hold of millions of bricks, stick them in your garage and sell them back to housebuilders when the market takes off again. Lucky you don't work in the investment side of things... Link to comment Share on other sites More sharing options...
coppercrutch Posted March 6, 2008 Share Posted March 6, 2008 You can buy me a pint with your astronomical gains then....remember to sell at the top of the market though. Care to let me know when that will be Mr McLaren........ I was told to buy gold when it was $600' date=' now its just below $1000 and the other day I saw it being tipped for $3500 I was to chicken to buy! IMHO the next big boom is Green/Renewable energy[/quote'] Just dive in !! Stick in an amount of which you can afford to lose half. That is what I have done. I stuck 4k in. If I lose a few grand I won't be happy but I will survive. However if Gold goes ballistic and I make 10k I will be ecstatic !! As for the green thing who knows. It is looking good but then so is nuclear. Uranium mining shares are the next I may fire into. Better than Ladbrokes this 'investing' malarky anyway !! At least it isn't over in 90 minutes.............. Link to comment Share on other sites More sharing options...
davemclaren Posted March 6, 2008 Share Posted March 6, 2008 Care to let me know when that will be Mr McLaren........ If I could predict that I wouldn't wasting my time on here.. Link to comment Share on other sites More sharing options...
Domokun Posted March 6, 2008 Author Share Posted March 6, 2008 IMHO the next big boom is Green/Renewable energy. Corn, hunners an hunners o corn. Get yer corn stocks now! Link to comment Share on other sites More sharing options...
portobellojambo1 Posted March 6, 2008 Share Posted March 6, 2008 Lucky you don't work in the investment side of things... Agree totally, I think, maybe, there again possibly. Link to comment Share on other sites More sharing options...
heart of lothian Posted March 6, 2008 Share Posted March 6, 2008 Care to let me know when that will be Mr McLaren........ Just dive in !! Stick in an amount of which you can afford to lose half. That is what I have done. I stuck 4k in. If I lose a few grand I won't be happy but I will survive. However if Gold goes ballistic and I make 10k I will be ecstatic !! As for the green thing who knows. It is looking good but then so is nuclear. Uranium mining shares are the next I may fire into. Better than Ladbrokes this 'investing' malarky anyway !! At least it isn't over in 90 minutes.............. Aye, I was just thinking about a JKB Investment Club.....15 pages trying to decide what to buy, yearly punch ups at the Christmas night out. Still, I suppose Vlad started of selling beatles records from his Lada! Link to comment Share on other sites More sharing options...
coppercrutch Posted March 6, 2008 Share Posted March 6, 2008 Fair enough. Edinburgh is pretty strange in that, although prices are very high, rents are not always proportionate. I currently pay ?430 pcm for a 2 bed flat in Dunfermline that is worth just over ?105k. That's why I've been a wee bit annoyed renting, as with a 10% deposit my mortgage payments could actually be the same or slightly less than my rent. I thought rental prices are meant to be 5% of the property value per year, as a rough guideline? Your scenario is underpriced. Mine is about right I think, if the "guideline" is anything to go by. That does seem far more reasonable, in proportion than Edinburgh. Prices in Dunfermilne seem far more reasonable. Still overpriced but not by a massive amount. Edinburgh on the other hand. I think the difference in rental to cost of buying shows that quite well.(If you assume parity is the long term norm) If we are using very basic maths that would mean a one bed flat in Gorgie is about 70% overvalued. 500 Rent vs 850 mortgage. (In equal flat should be about 40k.) Sounds crazily cheap - but until about 4 years ago a one bed flat in Gorgie did cost about 40k....................... Link to comment Share on other sites More sharing options...
heart of lothian Posted March 6, 2008 Share Posted March 6, 2008 Getting back to banks, tomorrow could be a bad day. (but good for gold)http://http://www.bloomberg.com/apps/news?pid=20601087&sid=ayI_tgGRroZQ&refer=home 'Ive been in the market for 30 years and Its never been this bad' 'Cost to insure bonds jumped from $500,000 yesterday to $740000 today' 'Fed rendered impotent' Link to comment Share on other sites More sharing options...
coppercrutch Posted March 6, 2008 Share Posted March 6, 2008 Getting back to banks, tomorrow could be a bad day. (but good for gold)http://http://www.bloomberg.com/apps/news?pid=20601087&sid=ayI_tgGRroZQ&refer=home 'Ive been in the market for 30 years and Its never been this bad' 'Cost to insure bonds jumped from $500,000 yesterday to $740000 today' 'Fed rendered impotent' The news just seems to be getting worse and worse. I think tomorrow could be the day gold tops $1000 for the first time ever (Excluding inflation). And that would be good for myself. PS. Your link does not work. Link to comment Share on other sites More sharing options...
Chip Douglas Posted March 6, 2008 Share Posted March 6, 2008 I'm avoiding this thread, all this talk of mortgages has inspired the Bank to notify me that my tracker expires at the month end. Mortgage hiked up 120 bar a month. Crutch, any room at the Inn? Link to comment Share on other sites More sharing options...
Peebo Posted March 6, 2008 Share Posted March 6, 2008 Shale oil technology is the future - first company to crack that commercially is gonna be the best investment one could ever make. Either that, or gold plated bricks. Link to comment Share on other sites More sharing options...
davemclaren Posted March 6, 2008 Share Posted March 6, 2008 Shale oil technology is the future - first company to crack that commercially is gonna be the best investment one could ever make. Eh, Paraffin Young already did... You're not from Pumpherston by any chance? Link to comment Share on other sites More sharing options...
Tazio Posted March 6, 2008 Share Posted March 6, 2008 Shale oil technology is the future - first company to crack that commercially is gonna be the best investment one could ever make. A lot of that depends on the take of the Canadian Government and Quebec. So far they don't seem 100%. Link to comment Share on other sites More sharing options...
Peebo Posted March 7, 2008 Share Posted March 7, 2008 A lot of that depends on the take of the Canadian Government and Quebec. So far they don't seem 100%. There is very little potential in Canada, so it doesn't have much to do with what they think. Link to comment Share on other sites More sharing options...
Tazio Posted March 7, 2008 Share Posted March 7, 2008 There is very little potential in Canada, so it doesn't have much to do with what they think. I understood there is a huge area of Northern Quebec with enormous reserves of oil in the subsoil. Not quite shale but a similar area for potential. Link to comment Share on other sites More sharing options...
Peebo Posted March 7, 2008 Share Posted March 7, 2008 I understood there is a huge area of Northern Quebec with enormous reserves of oil in the subsoil. Not quite shale but a similar area for potential. I am guessing you are thinking of the oil sands, which is a huge resource in Canada and is being developed now. There are similarities in technological approach, but they are not the same thing. Link to comment Share on other sites More sharing options...
davemclaren Posted March 7, 2008 Share Posted March 7, 2008 I understood there is a huge area of Northern Quebec with enormous reserves of oil in the subsoil. Not quite shale but a similar area for potential. http://en.wikipedia.org/wiki/Oil_shale Link to comment Share on other sites More sharing options...
Tazio Posted March 7, 2008 Share Posted March 7, 2008 I am guessing you are thinking of the oil sands, which is a huge resource in Canada and is being developed now. There are similarities in technological approach, but they are not the same thing. That's the very chappy. Link to comment Share on other sites More sharing options...
davemclaren Posted March 7, 2008 Share Posted March 7, 2008 Shale oil technology is the future - first company to crack that commercially is gonna be the best investment one could ever make. Either that, or gold plated bricks. Buy some mineral rights in Midlothian. What price does oil have to get to before we consider building deep mines again? Link to comment Share on other sites More sharing options...
Peebo Posted March 7, 2008 Share Posted March 7, 2008 Buy some mineral rights in Midlothian. What price does oil have to get to before we consider building deep mines again? We'll need a slightly more accomodating government and population first. Personally, I think a few more bings might brighten up the M8. Link to comment Share on other sites More sharing options...
Domokun Posted March 7, 2008 Author Share Posted March 7, 2008 We'll need a slightly more accomodating government and population first. Personally, I think a few more bings might brighten up the M8. We could turn Glasgow into a giant windfarm, after we've invested tons of ??? in EON, of course. Link to comment Share on other sites More sharing options...
coppercrutch Posted March 7, 2008 Share Posted March 7, 2008 I'm avoiding this thread, all this talk of mortgages has inspired the Bank to notify me that my tracker expires at the month end. Mortgage hiked up 120 bar a month. Crutch, any room at the Inn? Afraid not, they are moving soon too so I am out in the big bad World as well. Abbey have just announced they are raising all their rates on all mortgages by 0.3%. This just a day after the BoE kept rates on hold. The banks are just making up their own minds on rates at the moment. Savers are not doing that great either. http://www.mortgagesolutions-online.com/public/showPage.html?page=733176 Think I heard there could be about 2 million Brits in the same position as you this year Chip. Payments all of a sudden shooting up. And at the same time the price of oil, gas and food is shooting up as well. If this doesn't cause a serious economic downturn and housing crash I don't know what will. Link to comment Share on other sites More sharing options...
Coco Posted March 10, 2008 Share Posted March 10, 2008 Two adverts intrigued me yesterday. Both in the Scotland on Sunday property section. One of them was a new build house - sold 'on the instructions of the receiver'. Implication - property companies starting to go under. Many more of these to happen? Second, was a flat in the hideous Quartermile flat development - tag line '?20,000 off what the developers are charging'. Implication if price cutting of that size is required most buyers of the flats in these types of development may now be in negative equity situations. Who will buy the remaining flats at Quartermile, 'Springside' and the other box constructions in Fountainbridge, the hundreds of poor quality flats at Leith/Newhaven/Granton? Link to comment Share on other sites More sharing options...
heart of lothian Posted March 10, 2008 Share Posted March 10, 2008 [ Second, was a flat in the hideous Quartermile flat development - tag line '?20,000 off what the developers are charging'. Implication if price cutting of that size is required most buyers of the flats in these types of development may now be in negative equity situations. What! I thought prices only went up in Edinburgh:eek: Taylor Wimpy is now in the red for the first time in 15 years, and has dropped out of the FTSE 100. Bovis today warned of a profits 'slide'. Mortgage approvals have dropped 40%. Average Disposable income at smallest level for a decade. Meanwhile across the pond, coming to a town near you soon "]http://www.intelligencer.ca/ArticleDisplay.aspx?e=918803+"] Link to comment Share on other sites More sharing options...
coppercrutch Posted March 10, 2008 Share Posted March 10, 2008 Two adverts intrigued me yesterday. Both in the Scotland on Sunday property section. One of them was a new build house - sold 'on the instructions of the receiver'. Implication - property companies starting to go under. Many more of these to happen? Second, was a flat in the hideous Quartermile flat development - tag line '?20,000 off what the developers are charging'. Implication if price cutting of that size is required most buyers of the flats in these types of development may now be in negative equity situations. Who will buy the remaining flats at Quartermile, 'Springside' and the other box constructions in Fountainbridge, the hundreds of poor quality flats at Leith/Newhaven/Granton? If you have a look at google Earth maps only about a thrid of the Granton waterfront has actually been built yet. They are having trouble selling these so no chance of selling the rest. Maybe the fact they want 150k for a small flat in granton may be putting people off..... Interesting spot above about the new build house going to auction. A year ago you would have people queing up to buy. Have you seen that new advert for Polaris Spanish property ? They are offering to FLY YOU OUT to their development in Spain to 'Show we are still selling houses'. !!! How desperate can you get !! I have also seen numerous ads for new builds in Edinburgh where they will "pay your bills for 2 years", "pay half your mortgage for 18 months" etc.. If people still buy then they must be mad. This is just a 100% guarantee that as soon as you buy the place you are in negative equity. I reckon well over 50% of people who have bought in Edinburgh on 95%+ mortgages over the last 2 years are already in negative equity. They just don't know it yet. They soon will if they have to sell the place in the next few years. This is a global property bubble bursting. As I have stated numerous times before, anyone who thinks Edinburgh will be 'immune ' from this is actually delusional and needs their head examined, IMO. Another thing I have said numerous times before - "I could be wrong about all this." I still know that I could be wrong. But every day the chances of that are getting closer and closer to zero. The only question is where is the next bubble? And more importantly when is that going to burst ? Link to comment Share on other sites More sharing options...
Recommended Posts
Archived
This topic is now archived and is closed to further replies.