Is It A Good Time To Buy?

geoffky

pickledpink wrote: »

There's a handful of people on this forum whi sign in under various other nickmames - and even THANK themselves! Sad - but true.

They're the ones who haven't got a pot to p*** in - and know that they NEVER will get on the property ladder - but they don't wan't want other people to either: so they talk the market down and hope we'll all end up living in s***holes like they have to.

my !!!! pot would buy me ten decent houses but hey i am not a complete idiot and never got this much in my !!!! pot by buying at the top of the biggest bubble in history. i prefer to wait and take advantage of 30 t0 40% FALLS coming soon very soon....i talk the market as i see it and thats a hell of a way down and i have been saying this since last aug before that i just thought it was a crazy market but in aug i knew it was a bust one and there was only one way to go for the next three or so years....people who buy in bubbles end up bust first.....:rotfl::rotfl::rotfl::rotfl:

Ephemera

Jumping_Bean wrote: »

IMO these are the people who are usually in lot's of other debt for the other things they couldn't wait for, but this is just my opinion.

Think you hit the nail on the head there, JB.

We seem to be living in a 'buy now pay later' society... whatever happened to saving up for stuff? :rolleyes:

I've recently been very tempted to buy a house - reduced by about 25% from it's peak price, however in my humble opinion (and only time will tell if I'm right or wrong!) the prices will continue to fall for a while yet, giving me time to increase my deposit. If I'm wrong then it's to my cost... and I won't be blaming anyone else!!

Eph

MrMalkin

Jumping_Bean wrote: »

I think to understand why this happens you have to think about peoples motivation to post. I'm actually trying (along with probably quite a few other bears) to prevent people from making possibly the biggest financial mistake of their lives. Surely this is worth getting quite vocal about?

Perhaps, the whole point of this website is to do just that. But that doesn't explain threads like this one. I think too many people are concerned with becoming a forums superstar, and they have a quick way to become one. They think that an ability to repeat news stories parrot fashion and then assert that particular position very vocally is a good substitute for an actual understanding of the situation. Take this recent post:

i prefer to wait and take advantage of 30 t0 40% FALLS coming soon very soon....i talk the market as i see it

I'm not saying this is a bad prediction, but why does this poster believe there will be a 30-40% fall? Why not 20%, or 50%, or 80%? Why not a quick recovery and a 10% rise? I bet there's no good understanding of the actual financial and economic principles that are causing the market to drop, it's simply a nice number that's been published somewhere. That's not 'talking the market as i see it', that's seizing on someone else's opinion. I don't see how that can form the basis for good advice.

This sort of thing wouldn't fly in a stock investment forum (thank god we don't have one of those), why should it fly here?

Dithering_Dad

Jumping_Bean wrote: »

I think to understand why this happens you have to think about peoples motivation to post. I'm actually trying (along with probably quite a few other bears) to prevent people from making possibly the biggest financial mistake of their lives. Surely this is worth getting quite vocal about?

What exactly is the motivation of the bullish posts? To get people to buy overpriced houses?

I find it difficult to believe that all of the bears post for altruistic reasons and all the bulls post for selfish ones.

I actually believe that many bears and bulls post to try and influence the market down or up respectively. Not that it'll really make much difference in an internet forum, but bless them for trying.

The rest of us post because of a belief that people are either going to lose money by buying property during a falling market (this i your stance, I believe?) or because they think that setting a chronological timeframe on their house purchase "Not for two years, no matter what" is blinkered and that they may miss out on bargain available right now due to repos, builders panicking or simply people dying and their familiers wanting to get rid quickly (this is my stance).

I wouldn't actually say I'm either a bull or a bear, I'm an opportunist and I do believe opportunities are out there right now.

geoffky

i base on fact due to recent auction results....:rotfl::rotfl::rotfl::rotfl::rotfl::rotfl::rotfl:

TOOK THEM OFF DUE TO FORMAT BUT ALL WERE 40 TO 70% LOSSES SINCE BOUGHT...AUCTION WAS YESTERDAY...

Dithering_Dad

geoffky wrote: »

i base on fact due to recent auction results....:rotfl::rotfl::rotfl::rotfl::rotfl::rotfl::rotfl:

Address Income First bid Last bid Reserve Status Yield Last sold price Last sold date Change Last bid equiv date Last bid equiv date (real)

<Massively long post that loses it's point in the pages and pages>

Geoff mate, can you edit that a bit? I assume there was some formatting problem in the pasting?

MrMalkin

geoffky wrote: »

i base on fact due to recent auction results....:rotfl::rotfl::rotfl::rotfl::rotfl::rotfl::rotfl:

Way to prove my point. The first rule of any sort of investment is that past performance is no indication of future performance. I hardly think cherry-picking a bunch of table-breaking data proves otherwise, and no amount of posting stupid smilies is going to change that.

edit: In fact, I fail to see what relevance that data has at all. A bunch of properties were bought in the early 90s and sold in the last few years...so?

geoffky

How About Freds Cycle????

MrMalkin

geoffky wrote: »

How About Freds Cycle????

How about you talk some sense?

mewbie_2

Dithering_Dad wrote: »

I find it difficult to believe that all of the bears post for altruistic reasons and all the bears post for selfish ones.

Me too. Why don't you pick on the bulls for a change.