Hybrids prove to be cheaper long-term than competition

[Famine]

I havent but my dad has. When he was younger he changed about every two years. Thing is with the house prices these days in the UK us future homebuyers will have to keep our cars for longer, or just buy smaller, cheaper cars in the first place.

That... doesn't make any sense.

I've made about £45,000 on my property in 3 years (through improvements and market increases). Taking expenditure on the property into account, that's about £35,000 profit.

At any point I could release any part of that equity and get a different car - or take a remortgage and buy a wholly new car.

So house prices enable me to buy bigger, more expensive cars and change them more often.

 

[Poverty]

That... doesn't make any sense.

I've made about £45,000 on my property in 3 years (through improvements and market increases). Taking expenditure on the property into account, that's about £35,000 profit.

At any point I could release any part of that equity and get a different car - or take a remortgage and buy a wholly new car.

So house prices enable me to buy bigger, more expensive cars and change them more often.

Doesnt work like that. You would have to release equity, and if there suddenly was a recession combined with a house market price crash you could end up in the serious doo-doo with high negative equity, and you could end up being stuck at that property.

And who would want to release equity in their property ever half decade, you would never end up paying off your mortgage.

The UK economic boom will soon be over (soon being a couple years) and alot of people will be in trouble. Repossesions, bankruptcy and IVA's are at a all time high in this country due to unsunstainablelifestyles fueled by irresponsible borrowing, and the wholly actions made by the labour party, which they had to take because of the tory parties failings before that.

Releasing equity of your home is only good if you have payed off all, or most of your mortgage. At the current situation most youngsters will be paying for their houses over 20 or more years.

 

[Famine]

Doesnt work like that. You would have to release equity,

Which was exactly what I said.

and if there suddenly was a recession combined with a house market price crash you could end up in the serious doo-doo with high negative equity, and you could end up being stuck at that property.

Indeed. It's a risk we all take doing things like this - or in fact in taking out mortgages in the first place.

And who would want to release equity in their property ever half decade, you would never end up paying off your mortgage.

If you stuck to the same mortgage, yes.

On the other hand, if you aren't an idiot, you make money by "frequently" switching mortgages. On the other other hand, there's Offset mortgages too, where savings are offset against the mortgage - effectively giving you mortgage interest rates on savings.

As for who'd do it? You'd be surprised.

The UK economic boom will soon be over (soon being a couple years) and alot of people will be in trouble.

It's amusing really. I hear this every 18 months. It has yet to be true.

Repossesions, bankruptcy and IVA's are at a all time high in this country due to unsunstainablelifestyles fueled by irresponsible borrowing

You're speaking to someone who has no borrowing other than their mortgage (currently sitting at 67% from 90% 2.5 years ago).

and the wholly actions made by the labour party, which they had to take because of the tory parties failings before that.

You would have been, what, 10 years old when Labour came to power? I'm guessing that this point of view comes from a parent.

Releasing equity of your home is only good if you have payed off all, or most of your mortgage. At the current situation most youngsters will be paying for their houses over 20 or more years.

Funny, since the standard mortgage (not that there's such a thing any more) has always been 25 years, since before even my parents bought a home in 1964.

I guess we're just better off now.


Increasing house prices != Increased vehicle costs

 

[Poverty]

It's amusing really. I hear this every 18 months. It has yet to be true.

Oh dont worry, its coming, Gordon brown is just propping up the economy with all his taxes and borrowing.

You're speaking to someone who has no borrowing other than their mortgage (currently sitting at 67% from 90% 2.5 years ago).

This is all fine, but the average first home price in London is over 250k. Thats a hell of alot of money for the future generations to stump up with.

You would have been, what, 10 years old when Labour came to power? I'm guessing that this point of view comes from a parent.

I was just trying to stay balanced instead of blaming everything on labour. Tony Blair has done this nation absolutely no favours, and the PC morons are continuing on ruining it.

Funny, since the standard mortgage (not that there's such a thing any more) has always been 25 years, since before even my parents bought a home in 1964.

I guess we're just better off now.


Increasing house prices != Increased vehicle costs

I envy the people who bought a home back when they were dirt cheap. They must be laughing.

However I dont understand your logic of the more expensive your house is the more money you will have for cars. I can see why you might look at it that way but that is just false wealth, a bit like what gordon brown is doing with our economy.

If I could still buy a house for 60k I could pay that off in 4-5 years, and then the rest of my life spend copious amounts of money on cars.

In the UK we get taxed when we sell houses for profits, taxed when we buy, and taxed just for living in it. And the more money the house is worth the more tax we pay.

Personally Im holding out for this housing crash, and as soon as it happens I will buy myself a property with my recession proof wage. If it doesnt happen and house prices remain around the 250k mark I will buy, and then pay it off as quickly as possible, as then I can spend lots of money on cars, when im in my 40's and early 50's.