House Price's - Page 3

entwisi · 20-12-2006, 15:41

I wasn't that keen on Tunisia. Went once, didn't take to it at all. Bulgaria is too cold in winter,

As you say , you can still get a half decent house for ~£50K, with a 10% deposit a mortgage of £45K wqould only need a 15K salary from one pertson to be quite manageable.

garinda · 20-12-2006, 15:50

Although interest rates peaked at 15%, they were well over 10% for three consecutive years. Sadly people I knew did want to move, but couldn't because of negative equity. One couple divorced yet still had to share a house for three years. I also know people who were forced to hand in the keys to their mortgaged homes, when interest rate rises meant they could no longer afford to pay their mortgages.

Although property is generally seen as a good investment it isn't cast iron.

http://news.bbc.co.uk/1/hi/business/3161172.stm

entwisi · 20-12-2006, 16:00

Your right in that they were 'high' for 3 years but there is a big difference between 10 and 15% when it comes to mortgages.I did say that as long as you don't want to sell, perhaps I should have added 'need' as well, although I will quantify that there is a difference from as you say people getting divorced from those who were stupid enough to take on mortgages that they were already stretched to afford without any increases in interest rate.

No investment is cast iron, even cash can be devalued as has happened many times, look at Argentina for example. In short, you can't guarantee anything in teh financial world, you can only try and keep abreast of changes and live within your acceptable level of risk. Then its down to good old luck

WillowTheWhisp · 20-12-2006, 16:03

It's a funy thing with Tunisia, people seem to either love it or totally dislike it. Mind you I suppose it depends on what you like about a place and what you expect. I'm mad on geology and love the rocks and weird stuff found in the desert. I also like the salt lakes areas for unusual colours and it's probably the clearest bluest part of the med near Carthage and up on the northern coast (although Maltese will argue that the Blue Grotto on Gozo is better).

garinda · 20-12-2006, 16:13

http://www.moneyextra.com/dictionary...ry-003455.html

WillowTheWhisp · 20-12-2006, 16:30

I remember one frightful day in 1989 when base rate changed about half a dozen times in one day!

panther · 20-12-2006, 19:15

you can buy some desent houses for about 50 grand but its the area thats not and that is what is causing the prices i mean would you buy a house on elizabeth street or spring street area????? no way!! not unless the ****** sod off!

entwisi · 20-12-2006, 20:37

My mum lives on Elizabeth St and has done for over 50 years. Shes in her 70s and doesn't have any major problems, a few noisy nights during summer when people have parties but she certainly doesn't feel unsafe.