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.

 

[briantrumpet]

Any views on slashing electricity standing charges? Should benefit me quite a bit, I think, as I hardly use any electricity for about 8 months of the year. I'm on Octopus, so should be part of the pilot from April, going by this:

 

[Pblakeney]

Any views on slashing electricity standing charges? Should benefit me quite a bit, I think, as I hardly use any electricity for about 8 months of the year. I'm on Octopus, so should be part of the pilot from April, going by this:

Any views?
Standing charges are a rip off. You should pay for what you use, but no more.

 

[Dorset Boy]

Any views on slashing electricity standing charges? Should benefit me quite a bit, I think, as I hardly use any electricity for about 8 months of the year. I'm on Octopus, so should be part of the pilot from April, going by this:

I was able to compare a no standing charge offer from Octopus with 12, 18 and 24 month fixed for my office a couple of weeks ago.
The no standing order tariff was the most expensive option for my level of consumption, which isn't huge.....

The key is to do the maths based on your longer term average useage - it's just a simple spreadsheet

 

[briantrumpet]

I was able to compare a no standing charge offer from Octopus with 12, 18 and 24 month fixed for my office a couple of weeks ago.
The no standing order tariff was the most expensive option for my level of consumption, which isn't huge.....

The key is to do the maths based on your longer term average useage - it's just a simple spreadsheet

Interesting - might do that myself, as I do like a nice spreadsheet.

 

[briantrumpet]

Must admit, the best result in the by-election for me would be both Labour & Greens beating Reform, with the Greens winning to send Starmer a message about the failed flirtation with Reformy shit. I think we can rule out a Lib Dem or Tory surprise win.

 

[BoldonLad]

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.

I came to "needing somewhere to live" in the late 1960's. Even in this industrial backwater, with falling population, Council Housing was not available "on demand". I doubt the waiting lists diminished in the next twenty years, bringing us to the halcyon days of 40 odd years ago.

The problems in the late 1960s, (and I would suspect before) were two fold:

- saving the deposit (a 10% minimum in the late 1960s as I recall)
- having a job where you felt secure enough (either in that job, or getting another one pronto) to "take the risk" on a 20-30 year commitment

So, NOW, buying is a no brainer, UNLESS you want/need mobility?

I would agree there are parts of the UK where buying is very difficult (Son No1 lives in such an area), but, this does not apply throughout the whole of the UK.

 

[CXRAndy]

If you cant afford the mortgage payment you definitely cant afford the rent.

Mortgages are cheaper than renting in terms if payments per month.

 

[BoldonLad]

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.

I beg to differ, the post which began this exchange (see below) made no mention of "low rents 40 odd years ago".

It made reference to homes vs investments in the 1990s. In my life time, buying a house was always regarded as an investment. Even my Father (who never bought a house), often expressed his regret at not buying a house, when he set up home, with my mother, in 1945.

In my mind there was a key switch in the 90s (IIRC) when houses stopped being homes and became investments.
This along with selling off council houses was the birth of today's housing crisis.
I find it funny that those moaning about IHT are often the ones boasting about the value of their house.