The MSE House Price Forum Bull Trap?

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Even with this IR cut, I don't really see any bull trap forming, you would have to be clinically insane as a FTB to buy into this market with say a 10% deposit. I could buy a 3 bed detached at the min with a 35% deposit, which would give me access to the best rates, would I do it ?, only if hell freezes.

I think the majority of FTB's don't have that much to put down. The majority of chains have been able to complete in the last 4 years using the BTL ponzi scheme, which has now all but collapsed and fortunately the banks have now made punitively expensive.

FoxtonsRIP

wintersunshine wrote: »

How can you defend this poster with comments like this?

"It's not my fault if tens, maybe hundreds of thousands of greedy innumerate fools have bought into it without working it through first and now face financial ruin. It's certainly not my responsibility to bail them out by funding the governments panic measures (through taxes and loss of interest on my savings)" !!!!!!?



.

It seems like a quite reasonable comment to me. And factually correct too.

WTF?_2

wintersunshine wrote: »

How can you defend this poster with comments like this?

"It's not my fault if tens, maybe hundreds of thousands of greedy innumerate fools have bought into it without working it through first and now face financial ruin. It's certainly not my responsibility to bail them out by funding the governments panic measures (through taxes and loss of interest on my savings)" !!!!!!?




People have worked really hard to build up businesses,careers, homes and pensions that are now under immense stress and this clown calls them "greedy, innumerate fools."

I agree with him - at least to some degree - there is at least one innumerate fool out there, the one that is employing this comedian to spend all day in a chatroom spouting his scheunfreuden bile instead of insisting he gets on with some WORK. For someone who is obviously a lazy slacker to be critising everyone else is totally reprehensible. I truly hope he gets what he deserves and I wish that it was "not my responsiblilty to pay for his benefits when he's out of work" to paraphrase the buffoon.

He's a lazy, greedy, vulture - no better than those he criticises (the property developers, the bankers, the estate agents) he, and all those like him, are just the other side of the same coin.

I want to buy a house.

I feel house prices are grossly overblown and therefore decide to wait for market value to become more realistic.

I also tell people on the moneysavingexpert boards that it's better to wait if they want to save some money.

Therefore, In the world of the latest sock puppet on this board, this means I'm a vulture. :rolleyes:

mewbie_2

!!!!!!? wrote: »

this means I'm a vulture. :rolleyes:

Well you are circling (circulating?) while waiting to feed off the rotting carcass of those who had previously gorged themselves sick on HPI. I don't recall them saying anything about it being unfair that FTB's and others could not join in their party.

wintersunshine

mewbie wrote: »

Well you are circling (circulating?) while waiting to feed off the rotting carcass of those who had previously gorged themselves sick on HPI. I don't recall them saying anything about it being unfair that FTB's and others could not join in their party.

I do mind that FTBs were priced out of the market. !!!!!!'s posts make him little different in my eyes from all the people "in the feeding chain" on the way up. It's just a different set of vultures on the way down and in between all the vultures is ordinary families.