A possible crash on the way ?!!!

Ian_W

eurows wrote: Your a clown that even the clown school rejected. The clown with the smilies. Says it all.

Oooch!! That really hurt!! :mad: [BTW, it should be "you're" as it's short for "you are".]

I bought at Auction (as the part that you deleted says) and saved a fortune.

Wow, sorry I missed out that you saved money buying your 4x4 - it was for CASH wasn't it? But how chav is that? Did you buy green wellies and a wax jacket at the same time? :grouphug:

This is the guy who bought a chav apartment in Lanzarote complaining at me buying a freelander. Lanzerote went out of fashion in the 90's. Its now a place for chavs and poor people.

And sold it for a good profit, having made a decent income from letting it to like minded chavs, such as me.
But, hey, I wasn't complaining about your Freelander, just thought it was ... :rotfl:
Point about being nice to other MSE posters, is I haven't constantly described them or their views, in almost EVERY post, as:
Clowns,
pathetic,
no brainers,
thickest,
dopes,
boll****
etc, etc, etc .....

As Doozer says, "The insults make you who you are"

But you ought to know, THEY'RE NOT BIG, AND THEY'RE NOT CLEVER.

wibble68_2

eurows wrote:

What the hell are you talking about. What correction a few years ago. This correction is only just starting it probably won't end until 2008.

You don't buy to let at the top of a bursting bubble.

Sorry I didn't realize my post was that ambiguous.

I believe I said “Sell to Rent” not “Buy to Let”.

This was in reply to Mystic_Trev who has just sold his house and is
going to rent because he believes as I do that the market is due for
a correction.

I made no reference to a correction a few years ago.

I stated that people who decided to “Sell to Rent” got burnt as they
did it before the market had peaked.


When I said “The correction of the last housing market cycle” I meant
the period between 1990 and 1995.

Most people refer to this period as a “crash”, but a crash implies it
happened overnight.

You say it will bottom out in 2008.

I’m more inclined to think it will be 2010.

But let’s remember that all the posts relating to which direction the
housing market is going are only opinions.

mystic_trev

I think I ought to clarify my previous post. The reason I've sold and gone into rented is because it makes common sense for me. I'm single and have no dependants, and as previously stated will get just under £15,000 pa interest on my sale proceeds. I can rent for £800 per month,don't have to pay my current £3,000 service charge, so will make about £8,000 a year - if house prices remain "static" I also own two BTL's but these were purchased sometime ago and I'm hanging on to them. One has more than trbled in value and the other more than doubled. They provide a good income and I would have to pay CGT on them if I sold them!

The future of the housing market is anybodies guess. My opinion as it's 40% above trend it's due for a correction, a big correction, probably 20% in the next couple of years. If I'd bought in the last two years (particulary as a FTB) I'd be worried....very worried.

meanmachine_2

I hope you are mystic Trev.

I suspect a lot of blokes out there would love nothing more than to realise their "profits", sell up and live off the interest. But as you say, with families to support, and uproot, that isn't always an option.

I agree that property is horrendously expensive, but then I thought that back in 2001, when HPI started to slide. Rates were cut to 3.5% and the rest of history. *shudder*

Although, at the time, inflation was a sleeping dragon, unlike now.

rozeepozee

Apologies to other posters who will have heard me plug this book before (I have no vested interest, honest, other than being conscious about my assets like the rest of us), but have just read "Wake Up! Survive and Prosper in the coming economic turmoil" and it's scared me half to death. :eek: I am a girl and am pretty hopeless when it comes to abstract economics, and I realise the guys who wrote this book wrote it from a particular perspective, but if it's right all it's pretty chilling stuff and everything I seem to read everywhere else seems to support its conclusions in which case, property will not be the only thing to meltdown. Brrr! (sorry about all the mixed metaphors there: getting a little over excited!)

meanmachine_2

The problem is, these apocalyptic scenarios very rarely come to pass.

and to sell books, you need to have a shock horror theory. That's why they get published.

If my theory (the most reliable one) was that "things are going to be much as they are now", who's going to read that?!

BSE, nuclear war, chinese imports - I remember when Japan was being touted as the new threat to civilization. They'd just bought up a whole bunch of companies, including some American studios, and this was apparently going to lead us to a form of economic slavery.

Didn't happen that way, did it?

So yes, we will run out of oil, but man is infinitely adaptable and so will find other ways to survive long before then.

In my experience, life is rarely apocalyptic. And often quite dull.

rozeepozee

meanmachine, I think you may be underestimating your literary expertise if your posts on here are anything to go by