tag:blogger.com,1999:blog-1141932539860553199.post4380628597492256619..comments2024-03-05T10:52:24.691+00:00Comments on Mark Wadsworth: Only one-in-three? That's a bit worrying.Mark Wadsworthhttp://www.blogger.com/profile/07733511175178098449noreply@blogger.comBlogger5125tag:blogger.com,1999:blog-1141932539860553199.post-33217473193183931752015-07-23T12:01:45.298+01:002015-07-23T12:01:45.298+01:00Yes, pay down your mortgage. But always have a fe...Yes, pay down your mortgage. But always have a few quid on deposit for that unforeseen emergency. Think of it like having a credit card you fund yourself.Lolahttps://www.blogger.com/profile/04586735342675041312noreply@blogger.comtag:blogger.com,1999:blog-1141932539860553199.post-90806846068380340182015-07-22T18:23:40.806+01:002015-07-22T18:23:40.806+01:00TS, exactly. Once you have taken out a mortgage, b...TS, exactly. Once you have taken out a mortgage, by and large, the best form of "saving" is to pay it off as quick as possible - rather than giving HSBC the money to lend back to you at interest.Mark Wadsworthhttps://www.blogger.com/profile/07733511175178098449noreply@blogger.comtag:blogger.com,1999:blog-1141932539860553199.post-81198638871919045652015-07-22T17:45:02.467+01:002015-07-22T17:45:02.467+01:00"I'm a bit baffled why people who bought ..."I'm a bit baffled why people who bought more than 15 years ago haven't paid off their mortgages yet; (I bought in 1998 and it took me ten years, so I am already one of the lucky one-in-three.)"<br /><br />I dunno. My last mortgage was an 18 year term and we only paid it off at about 17 years (it was 18 years because we didn't extend the term when we moved). But I'd like to think that there's at least a reasonable number of people with 2 incomes that would start clearing it off, or who got a redundancy cheque and took some off it. I'd certainly like to think that most people who took out a mortgage over 20 years ago took a look at the amount left and got shot of it.<br /><br />The other thing is that some people see a mortgage as a fixed cost, like if they are paying rent. So, if they've got spare money, they stick it in a savings account or spend more on luxuries rather than knocking a bit off the capital. I've got friends who had £30K in savings and £100K of mortgage. Which is like lending yourself £30K and paying HBOS for the privilege.Tim Almondhttps://www.blogger.com/profile/13369256383976094670noreply@blogger.comtag:blogger.com,1999:blog-1141932539860553199.post-8449518927477190352015-07-22T15:29:58.608+01:002015-07-22T15:29:58.608+01:00R, yesR, yesMark Wadsworthhttps://www.blogger.com/profile/07733511175178098449noreply@blogger.comtag:blogger.com,1999:blog-1141932539860553199.post-6770279876794373882015-07-22T15:22:14.431+01:002015-07-22T15:22:14.431+01:00The godsend to Georgists is that land ownership be...The godsend to Georgists is that land ownership becomes more concentrated over time. Once it goes a fair bit below 50% we are in for a chance.<br />Lots of passive rent collected by the banks.<br />I've noticed another KLN, that "higher house prices fuel current account deficits which benefit us" no CADs are because eastern countries like China are saving in the currency due to following "export-led growth" IMF insanity that require them to save in the currency. Floating rates will eliminate any imbalances. If not it means there is manipulation.Randomhttps://www.blogger.com/profile/04445772572707818311noreply@blogger.com