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UK Interest rates bite..., by runningdog on Jul 16, 2007 17:53:08 GMT 1, Interesting, this thread's a bit of a circlejerk for people who had a good roll of the dice with an early mortgage, and who now think they're pretty f**king clever. Not really interested, but thanks anyway.
As for me, the new feudalism, and living in the SouthEast, has put any mortgage out of my reach, but I can afford to put some awesome art on the walls which will at least hold its value, so I do that instead.
I was more interested in hearing from people who are going to have to start selling off their collection due to the interest rate squeeze.
Interesting, this thread's a bit of a circlejerk for people who had a good roll of the dice with an early mortgage, and who now think they're pretty f**king clever. Not really interested, but thanks anyway.
As for me, the new feudalism, and living in the SouthEast, has put any mortgage out of my reach, but I can afford to put some awesome art on the walls which will at least hold its value, so I do that instead.
I was more interested in hearing from people who are going to have to start selling off their collection due to the interest rate squeeze.
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UK Interest rates bite..., by corblimeylimey on Jul 16, 2007 18:23:07 GMT 1, So you were more interested in people mortgaged up to their eyeballs hardly being able to afford their mortgage, then comes along an interest rate rise, and you'd thought you'd be able to take advantage of their desperation and get some cheap art.
That's not very nice, and by the sounds of it that may be you in that position in the future.
Well I'm not really interested in those who wish to profit from others misfortunes.
So you were more interested in people mortgaged up to their eyeballs hardly being able to afford their mortgage, then comes along an interest rate rise, and you'd thought you'd be able to take advantage of their desperation and get some cheap art.
That's not very nice, and by the sounds of it that may be you in that position in the future.
Well I'm not really interested in those who wish to profit from others misfortunes.
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chrisps303
Junior Member
Posts โข 1,006
Likes โข 0
December 2006
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UK Interest rates bite..., by chrisps303 on Jul 16, 2007 19:26:20 GMT 1, Exactly ABC... I'm 27 and have got just under 18 years of mortgage left. I hope to move in a couple of years but only will if my mortgage time doesn't increase over how ever many years I have left then (15/16?)... the long term plan is to be fully mortgage free by 45 That was my plan, I had a four bed detached house when I was about 21 with a 100% motgage which was only ยฃ52000! I'm now 42 so I should have been almost debt free by now. BUT..... life is not as straight forward as you'd like to plan, good luck to those who pull it off it's not impossible, but kids, divorce, all sorts of unexpected turns can come up, and doing as I did way back, which was to sell the house and spend the profit and give up work for a while, doesn't do your long term plan any good.
Thats exactly what i did Cbl, sold my house 5 years or so ago then spent 2 years not working and living of the profit. I bought a house about 6-8 weeks ago and my expendable income and all my savings have taken a right battering.
Glad i bought it but things are a bit tight at the moment.
Exactly ABC... I'm 27 and have got just under 18 years of mortgage left. I hope to move in a couple of years but only will if my mortgage time doesn't increase over how ever many years I have left then (15/16?)... the long term plan is to be fully mortgage free by 45 That was my plan, I had a four bed detached house when I was about 21 with a 100% motgage which was only ยฃ52000! I'm now 42 so I should have been almost debt free by now. BUT..... life is not as straight forward as you'd like to plan, good luck to those who pull it off it's not impossible, but kids, divorce, all sorts of unexpected turns can come up, and doing as I did way back, which was to sell the house and spend the profit and give up work for a while, doesn't do your long term plan any good. Thats exactly what i did Cbl, sold my house 5 years or so ago then spent 2 years not working and living of the profit. I bought a house about 6-8 weeks ago and my expendable income and all my savings have taken a right battering. Glad i bought it but things are a bit tight at the moment. |
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andrewd
Junior Member
Posts โข 1,079
Likes โข 33
September 2006
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UK Interest rates bite..., by andrewd on Jul 16, 2007 22:32:24 GMT 1, Normally the art market gets going after a period of growth in the economy. It grows with a boom and falls or stagnates at the other end of the economic cylce. As with housing it is quality that stands it's ground better whilst sentiment doesn't favour less desirable areas/properties.
A few interest rates won't affect prices but if there is a recession then hold on tight. Most of the art market records that have recently been broken were set in the late 80s early 90s at the peak of the last boom.
I reckon you should just buy what you like and enjoy it.
Normally the art market gets going after a period of growth in the economy. It grows with a boom and falls or stagnates at the other end of the economic cylce. As with housing it is quality that stands it's ground better whilst sentiment doesn't favour less desirable areas/properties.
A few interest rates won't affect prices but if there is a recession then hold on tight. Most of the art market records that have recently been broken were set in the late 80s early 90s at the peak of the last boom.
I reckon you should just buy what you like and enjoy it.
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UK Interest rates bite..., by runningdog on Jul 17, 2007 14:52:08 GMT 1, I reckon you should just buy what you like and enjoy it.
Good advice right there
I reckon you should just buy what you like and enjoy it. Good advice right there |
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