Is this to allow for the risk or of earth quakes?
Why all the D&G on this forum now ?!
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Is this to allow for the risk or of earth quakes?
This is because most renters have never owned a house, and therefore cannot see the side of the coin that the home owner can.
It's almost the same as the wage earner who, never having been a boss, cannot see things from the bosse's perspective; it's always a tad on the unfair side to the wage earner.
What they don't see, and cannot see; is the years of sacrifice, risk, and dedication the boss (read homeowner/investor) has been though to get to their higher financial position in life.
It's almost as though they think the homeowner/investor/boss simply woke up one morning and was better off than them, and were therefore blessed with Irish luck.
Dare I say it; they are a tad resentful?
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I'd actually agree with you there Marc. Though I'd add that rapidly rising property prices have eroded affordability, so there is some justification for non-owners to feel hard done by.
BV, I think that the Economist has pegged the rent to buy ratio of Japan to show that prices there are 60% of what they should be. I don't know if they've taken rebuilding costs into account.
BV, I think that the Economist has pegged the rent to buy ratio of Japan to show that prices there are 60% of what they should be. I don't know if they've taken rebuilding costs into account.
BV, I think that the Economist has pegged the rent to buy ratio of Japan to show that prices there are 60% of what they should be. I don't know if they've taken rebuilding costs into account.
Its a considerable risk for someone borrowing the money and not living in it because if the building colapses you'll be stuck with a loan and no property.
I'm guessing that the insurers there won't cover you for earth quakes because it is an expected event.
What about those who choose to rent because they think real estate is overpriced and are in great financial shape.
I don't know an renters who could pull , say 1m from their bank account like I could as i have undrawn loc's from equity on my ips and ppor. At the old d+g forum they seemed
to crap on about buying gold but i think they were talking a few k$ worth. I know the bank isn't real happy to lend on gold ingot purchases.
There's a few of those every few years.
That said most people I know who I guess would be in relatively ok financial shapes (ie usually with $300k+ income) have all bought recently, despite all the talk of a dying market. So I think there's still a general mentality that any time is ok to buy, while it might not be the most ideal time.
Oh because most of them are a bit young (usually around 26-32) and didn't save much up (typical corporate people), so don't have that much equity (which imo sets them back a bit). If they combined it with good savings habits half of them should be so relaxed now and wouldn't need to work.
But then that Aston Martin dealership in South Bank would not exist
Ah yea absolutely. How random huh, they spend all day in the office anyway.
You don't know many renters then. Some are high earners sitting on wads of shares instead of a PPOR and IP's.
I'm sure some are. I wonder what proportion of renters fit this profile, though...?
Not many. Most who can afford it will buy a house.
Had an ex-colleague keep raving about how expensive houses were and that something was wrong with the market while he was house-hunting all of 2010, then finally went out and bought a house and stretched his budget to $2.5m or something like that.
Had an ex-colleague keep raving about how expensive houses were and that something was wrong with the market while he was house-hunting all of 2010, then finally went out and bought a house and stretched his budget to $2.5m or something like that.
