Mr Helmut Fromage Posted October 14, 2022 Share Posted October 14, 2022 2 hours ago, Banker said: They’re not underpaid for the hours they do!! Im in support of higher taxes for those who can afford it including me but it’s people like you who want everything but don’t want to pay Congratulation on continuing your consecutive streak of being wrong in everything - chapeaux 1 1 Quote Link to comment Share on other sites More sharing options...
offshoremanxman Posted October 14, 2022 Share Posted October 14, 2022 10 minutes ago, HeliX said: I fixed for 5 at an OK-ish rate. Not as OK as if I'd done it a year ago, obviously. But my thoughts were that I can afford that rate, I likely would struggle to afford double that rate (which is what it is now...), and much more than that would probably force a sale. So safest option felt like 5 year fixed. Enforced sales are the exact thing that hit the housing market in the early 90s when negative equity started to happen. People should have hedged themselves properly against interest rate increases. Especially post Brexit as it was obvious that the European style ultra low interest rates were going to have to end. Quote Link to comment Share on other sites More sharing options...
mad_manx Posted October 14, 2022 Share Posted October 14, 2022 (edited) Every generation has one or maybe two opportunities to make a speculative investment which does well ..Most of the boomers have struggled when mortgage rates were jn double digits but the punt has paid off for most of them . It could have easily gone the wrong way and they could have lost it all.. I'm in my 30 's and was too late into the property game and prices were too high for me to afford by the time I started earning well.. But for people like me crypto was a speculative investment and I've done way better than if I had gone with property. Add on the fact that it's very liquid and can be managed from anywhere in the world and that's a bonus Obviously you need to remember to sell at least part of your holdings when everyone else is in FOMO phase and buy back when no one wants it.( quite similar to any other asset but is several times magnified ) As I've mentioned in another thread I have managed to retire several decades before I could have .. I still do some real world work occasionally but only because I like what I do. Edited October 14, 2022 by mad_manx 1 1 Quote Link to comment Share on other sites More sharing options...
manxchester Posted October 14, 2022 Share Posted October 14, 2022 48 minutes ago, HeliX said: I fixed for 5 at an OK-ish rate. Not as OK as if I'd done it a year ago, obviously. But my thoughts were that I can afford that rate, I likely would struggle to afford double that rate (which is what it is now...), and much more than that would probably force a sale. So safest option felt like 5 year fixed. This is the exact situation we found ourselves in, went with the 5 year fixed as well just for peace of mind, god knows what the economic situation is going to be like in 5 years though! 1 Quote Link to comment Share on other sites More sharing options...
HeliX Posted October 14, 2022 Share Posted October 14, 2022 8 minutes ago, manxchester said: This is the exact situation we found ourselves in, went with the 5 year fixed as well just for peace of mind, god knows what the economic situation is going to be like in 5 years though! Probably better than it'll be in 1-2 years. I would guess that the worst of the unpayable mortgages and resulting sell-offs will be next year. But it certainly is a guess. And if it's fucked for longer than that then my mortgage renewal will likely be the least of our worries! 2 Quote Link to comment Share on other sites More sharing options...
Banker Posted October 14, 2022 Share Posted October 14, 2022 1 hour ago, Mr Helmut Fromage said: Congratulation on continuing your consecutive streak of being wrong in everything - chapeaux Think that’s you buffoon, obviously cabinet office 😂 Quote Link to comment Share on other sites More sharing options...
Mr Helmut Fromage Posted October 14, 2022 Share Posted October 14, 2022 2 minutes ago, Banker said: Think that’s you buffoon, obviously cabinet office 😂 The streak continues......... 1 1 Quote Link to comment Share on other sites More sharing options...
mad_manx Posted October 14, 2022 Share Posted October 14, 2022 (edited) 4 hours ago, HeliX said: Probably better than it'll be in 1-2 years. I would guess that the worst of the unpayable mortgages and resulting sell-offs will be next year. But it certainly is a guess. And if it's fucked for longer than that then my mortgage renewal will likely be the least of our worries! Bottom of the last cycle in IOM was in 2014 ..So was a year and a bit behind the UK Markets here tend to lag behind the UK by 1 to 2 years Edited October 14, 2022 by mad_manx 1 Quote Link to comment Share on other sites More sharing options...
BriT Posted October 31, 2022 Share Posted October 31, 2022 On 10/14/2022 at 11:56 AM, HeliX said: Probably better than it'll be in 1-2 years. I would guess that the worst of the unpayable mortgages and resulting sell-offs will be next year. But it certainly is a guess. And if it's fucked for longer than that then my mortgage renewal will likely be the least of our worries! It’s definitely getting dicey when Peel is the new executive ‘millionaires row’. What an absolute piss take of a price. https://www.garforthgray.im/peel-raad-roagan/ 2 2 1 Quote Link to comment Share on other sites More sharing options...
Asthehills Posted October 31, 2022 Share Posted October 31, 2022 28 minutes ago, BriT said: It’s definitely getting dicey when Peel is the new executive ‘millionaires row’. What an absolute piss take of a price. https://www.garforthgray.im/peel-raad-roagan/ That’s a reasonable price for a house that size, and needing nothing done to it in the current market. There are others on those new estates in Peel that are 750 plus, and several houses in Peel that have been a million plus for years. 1 Quote Link to comment Share on other sites More sharing options...
forestboy Posted October 31, 2022 Share Posted October 31, 2022 7 minutes ago, Asthehills said: That’s a reasonable price for a house that size, and needing nothing done to it in the current market. There are others on those new estates in Peel that are 750 plus, and several houses in Peel that have been a million plus for years. All an absolute piss take. 2 1 Quote Link to comment Share on other sites More sharing options...
Asthehills Posted October 31, 2022 Share Posted October 31, 2022 7 minutes ago, forestboy said: All an absolute piss take. Why? Should houses in Peel be priced completely differently to the rest of the island? Quote Link to comment Share on other sites More sharing options...
BriT Posted October 31, 2022 Share Posted October 31, 2022 18 minutes ago, Asthehills said: That’s a reasonable price for a house that size, and needing nothing done to it in the current market. There are others on those new estates in Peel that are 750 plus, and several houses in Peel that have been a million plus for years. Nonsense that kitchen alone is cheap shite. I’ve put in better myself from Howdens. It’s an absolute piss take of a price and anyone who is going to stump up for that is mental. 1 Quote Link to comment Share on other sites More sharing options...
Asthehills Posted October 31, 2022 Share Posted October 31, 2022 Just now, BriT said: Nonsense that kitchen alone is cheap shite. I’ve put in better myself from Howdens. It’s an absolute piss take of a price and anyone who is going to stump up for that is mental. Will be sold inside a month. It’s the going rate. It’s obviously not to your taste but that doesn’t make the price unreasonable in the current market Quote Link to comment Share on other sites More sharing options...
forestboy Posted October 31, 2022 Share Posted October 31, 2022 3 minutes ago, Asthehills said: Why? Should houses in Peel be priced completely differently to the rest of the island? Did I say they should be? Developers just screwing the island even more rather than providing for young first time buyers. 4 Quote Link to comment Share on other sites More sharing options...
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