The future of Omega vs. Rolex

gostang9

I find the notion many in this thread relying on whereby the price-point dictates whether something can be classified as a "tool" or not.

If we think of other types of tools, this notion would seem silly:

To mix cake batter in the kitchen, one might use any number of different mixing "tools", with price points many multiples of the others. Each can perform essentially the same tasks, albeit with different inputs required.

This for $13 USD

This for $130 USD (10x the basic option)

Or this for $480 USD (37x the basic option)

Some will argue that different tools are meant for different purposes, ie: the 'occasional' home chef can do with the first, the daily home 'chef' the second and any professional chef the third. However, I know several 'rare' home chef's who have the third simply because it fits easily within their budget.

TL😁R -- price does not define what is a "tool", nor does the eventual use of the "tool" by those who can afford to purchase them...

STANDY

Properties bought young for cheap as chips and paid off 😉

49 today actually

Om3ga321

I can see the future kids wearing an Apple watch with no available software update.Very useful.

YY77

Our prime minister in NL only makes €170k, somebody is getting underpaid.

kelsey

Happy BD 😀 I was 49 last week 😀
I own my home, never had a mortgage, rented until I could buy then bought for cash 3 years ago.

desertwanderer

I dont really understand your point?

kelsey

I own my home, never had a mortgage, rented until I could buy then bought for cash 3 years ago.

Martin_J_N

Haha, trying renting and saving in the south east of the UK, your rent is greater than a mortgage but as house prices are stupidly high over here most people struggle to get on the mortgage ladder, if they rent they cannot save enough for a mortgage. My two kids both in mid to late 20's have good jobs but neither can afford a mortgage without help from the bank of mum and dad, so at the moment both are still living at home as they save for deposits, with banks and building societies looking for 25% deposits kids are having to find the best part of £75k before they will be considered for a mortgage.

Rent can be over £1k pcm which leaves sod all for saving towards a mortgage so more and more kids are staying at home for longer as they struggle to get their deposits. Nightmare.

Martin_J_N

Haha, trying renting and saving in the south east of the UK, your rent is greater than a mortgage but as house prices are stupidly high over here most people struggle to get on the mortgage ladder, if they rent they cannot save enough for a mortgage. My two kids both in mid to late 20's have good jobs but neither can afford a mortgage without help from the bank of mum and dad, so at the moment both are still living at home as they save for deposits, with banks and building societies looking for 25% deposits kids are having to find the best part of £75k before they will be considered for a mortgage.

Rent can be over £1k pcm which leaves sod all for saving towards a mortgage so more and more kids are staying at home for longer as they struggle to get their deposits. Nightmare.

Martin_J_N

Haha, trying renting and saving in the south east of the UK, your rent is greater than a mortgage but as house prices are stupidly high over here most people struggle to get on the mortgage ladder, if they rent they cannot save enough for a mortgage. My two kids both in mid to late 20's have good jobs but neither can afford a mortgage without help from the bank of mum and dad, so at the moment both are still living at home as they save for deposits, with banks and building societies looking for 25% deposits kids are having to find the best part of £75k before they will be considered for a mortgage.

Rent can be over £1k pcm which leaves sod all for saving towards a mortgage so more and more kids are staying at home for longer as they struggle to get their deposits. Nightmare.

amfalconer

This, completely....

I have just bought my first property (well 40% of it anyway), on a shared ownership scheme, at the ripe old age of 36.

I missed the boom in the late 2000's when all my friends were buying flats for half today's values, with 100% mortgages, as I chose to go to uni instead.

I now have what would be considered a good job, my a wages are around the national average for the UK, but the hoops I had to jump through to get a basic mortgage, I had to find a higher paid job, find an additional 5% deposit (at short notice), and wait for ages for the mortgage company to come up with the goods following a revised mortgage valuation which undervalued the property.

This is for a 1 bedroom flat, not a common occurrence in the shared ownership market, and even then preference is given to families, and those with local ties. I had only viewed 3 of these since starting my search in 2016, so I couldn't afford to let this pass me by.

Handily the monthly costs are still about £200 a month cheaper than renting an equivalent property - I got the keys a week before lockdown began in the UK.