U.K Enters Recession..!!

mewbie_2

Tassotti wrote: »

I am not bitter about any investment of mine.

I am bitter about teenage idiots/inexperienced investors who talk the talk but never have the b..alls to wlak the walk

You are talking garbage. IF you were a successful investor you would surely not need to preach on here. IF you are in danger of losing money then you need the debt forum.

Your signature says so much about you. An unfunny 'joke', that you consider worth showing to everybody.

wymondham

I think a real indicator of this is the DFS indicator! Many years ago they had a sale between Christmas and New Year. This year it seems to be ongoing (and very annoying!). Seriously, it will be interesting this Autumn/Winter to see how holiday sales go, as last year the crunch had not 'bitten' - I suspect you'll get massive discounts on next years Summer hols (if you have a job to pay for it!)....

dudleyboy

wymondham wrote: »

I think a real indicator of this is the DFS indicator! Many years ago they had a sale between Christmas and New Year. This year it seems to be ongoing (and very annoying!). Seriously, it will be interesting this Autumn/Winter to see how holiday sales go, as last year the crunch had not 'bitten' - I suspect you'll get massive discounts on next years Summer hols (if you have a job to pay for it!)....

To be fair, I wouldn't read too much into that. DFS have always got a sale on.

SingleSue

And then there are people like me....

No vested interest in the housing market, nor do I want to have one, living in rented accomodation (yes the dreaded social housing) but still I take an interest in what is happening and have done since the mid 90's (when we got burnt in the last recession).

I don't envy homeowners, I don't aspire to own a home (although a lottery win would probably change my mind!) but even I could see that the market could not be sustained at the level it was galloping ahead at.

I can also see that while this is good news for those aspiring to get on the housing ladder, equally this is terrible news for those who purchased at the top of the market with the general economy heading for troubled times.

There will be winners and losers this time just like in the 90's, except this time I think the losers will be worse off than they were back then with much higher financial losses comparitively.

m00m00

dudleyboy wrote: »

To be fair, I wouldn't read too much into that. DFS have always got a sale on.

one of the signs of the apocalypse to come in the book of revelations is the discovery of a branch of DFS that doesn't have a sale of some kind on.

WTF?_2

neverdespairgirl wrote: »

I admire successful people if they (a) don't exploit other people to acheive and (b) don't just put money into a rising market and think they are a genius.

Too true - so many 'property magnates' out there who are set to be bankrupt in the very near future.

It all seemed so easy:

Go to bank.
Bank hands you 100% of the price of a house which is rising at 10% p.a.
Profit.
Pat yourself on the back for being a savvy investor, borrow more against the price rise of your property and buy a dirty great 4x4 and go on an exotic foreign holiday.

Shock, horror. There's no such thing as free lunch :rotfl:

ultra10

!!!!!!? wrote: »

Too true - so many 'property magnates' out there who are set to be bankrupt in the very near future.

It all seemed so easy:

Go to bank.
Bank hands you 100% of the price of a house which is rising at 10% p.a.
Profit.
Pat yourself on the back for being a savvy investor, borrow more against the price rise of your property and buy a dirty great 4x4 and go on an exotic foreign holiday.

Shock, horror. There's no such thing as free lunch :rotfl:

yes i agree with that

Tassotti

I am not trying to gload about my success. I am just trying to make the board aware that the majoririty on here have been talking about a house price crash since 2001.

They were wrong with regards to timing.

I actually think a correction in the market will be good for the market. Okay, I will see some of my investments go down short term, but they will go back up, and all those people who have been waiting will be waiting forever, unless hey do something about it over the next few years.

I think the sentiment here is that people who have tried to BTL over the past 2-3 years are now going to be in trouble.

True, and I don't feel sorry for them. It is a market like any else and you should do your research. You wouldn't borrow 150K t put into a market you weren't sure about, would you? But it's property..It always goes up.

These amateurs just make an easy ride for us professionals.

But people who bleat and bleat will never do it and always try and ridicule those who can and do it.

Generali

Tassotti wrote: »

These amateurs just make an easy ride for us professionals.

I'm surprised by this. I'd have thought that people who haven't thought things through and so are desperate to get some rent coming in to cover at least part of the mortgage would undercut you and mean that rents don't increase as quickly as they would have done otherwise.

How do amateurs help you? I'd be interested to know.

BobProperty

Generali wrote: »

I'm surprised by this. I'd have thought that people who haven't thought things through and so are desperate to get some rent coming in to cover at least part of the mortgage would undercut you and mean that rents don't increase as quickly as they would have done otherwise.

How do amateurs help you? I'd be interested to know.

I'll make a guess at this anyway. The amateur will still be holding out for the rent they think they should get whereas a pro will realise that the market has dropped and quickly accept a lower rent just to keep the cashflow going. The pro therefore looks like a better deal to the renter. e.g. AmBTL has place to rent at £750pcm, ProBTL says £675, renter goes with ProBTL as cheaper. AmBTL stuck with empty property and keeps hoping for better rent. ProBTL has 90% of income of AmBTL hopes for but AmBTL has 0 actual income.