BRFR Cake Stop 'breaking news' miscellany

[BoldonLad]

Not cheaper in the long term but if you are living pay check to pay check...
Especially so 40+ years ago. That renting is now (roughly) as expensive as buying should be a scandal.

Cheaper is cheaper, how does one's earnings or money management skills alter that? (I accept it may alter ones choices)

I am 79yo this year, 40+ years ago were my peak "shortage of cash years"

 

[Pblakeney]

Cheaper is cheaper, how does one's earnings or money management skills alter that? (I accept it may alter ones choices)

I am 79yo this year, 40+ years ago were my peak "shortage of cash years"

Back in the day if you were renting and living pay check to pay check then buying was just a fantasy, but renting was possible.
These days renting is becoming a fantasy. Prices are out of control.
FA raised a good point regarding BTL landlords raising rents to cover the mortgage. Whatever, the market is screwed and won't be fixed.

 

[BoldonLad]

Back in the day if you were renting and living pay check to pay check then buying was just a fantasy, but renting was possible.
These days renting is becoming a fantasy. Prices are out of control.
FA raised a good point regarding BTL landlords raising rents to cover the mortgage. Whatever, the market is screwed and won't be fixed.

I keep hearing the creak of goalposts moving.

No-one mentioned renting and then buying.

The original statement was that renting was cheaper than buying, which, I queried by suggesting renting was not cheaper than buying in the long term.

 

[CXRAndy]

Slaves to rent or mortgage?, does it matter which?

A sense of pride to owning your own property

 

[Dorset Boy]

There were sizeable discounts on right to buy, so it was a no brainer for people in Council Houses to take up the offer.
It's caused a big wealth transfer to private individuals.

 

[CXRAndy]

I keep hearing the creak of goalposts moving.

No-one mentioned renting and then buying.

The original statement was that renting was cheaper than buying, which, I queried by suggesting renting was not cheaper than buying in the long term.

Renting has generally been more expensive than purchasing. The hurdle is the deposit. Not many are prepared to sacrifice in order to save up a deposit.

I saved up for 5 years whilst renting my first shop to get the 30% deposit I needed to buy second shop premises. Turned out to be one of the best decisions for me

 

[Pblakeney]

I keep hearing the creak of goalposts moving.

No-one mentioned renting and then buying.

The original statement was that renting was cheaper than buying, which, I queried by suggesting renting was not cheaper than buying in the long term.

Yeah, and the original statement referred to low rents 40 odd years ago which were considerably cheaper than a mortgage payment due to the sheer number of council houses. That has all changed, and not for the better. I easily conceded that buying is cheaper in the long run but that is irrelevant if you can't afford the mortgage payment in the first place.