The Myth of record debt!

chucky

tomstickland wrote: »

If people buy a house in 2001 and by 2007 it's worth twice as much then the increase in value is imaginary wealth, unless they sell at that moment.

It's back to the two antique dealers selling a mirror to each other for ever increasing sums of money and thinking that they're making profit.

The UK has developed since the days of the British Empite.

There is foreign investment in the UK.
Cash is not just being invested in mirrors.
Mirrors are not a necessity - a home is.
Not everyone needs to sell their mirror they would live in it for a good number of years.

WTF?_2

IveSeenTheLight wrote: »

Are you a politician?........ No........ Well maybe you should be.

I ask you a very simple question which you choose to ignore and answer something else (above)

I can only assume that your sentence below in which you accuse people of making not making rational , detached judgements is irrational itself and you dont want to admit it.

I already explained that I feel the statement is justified, if you don't agree with me then fine but banging on and on isn't going to change my stance.

WTF?_2

JonnyBravo wrote: »

To be fair to !!!!!!? this is a fair point of view and one which he's moved on.

He used to post plenty of stuff about not buying no matter what, but to be fair, he listened to reasoned argument, (I know cos I was one of the ones putting it forward back when I could be ars ed to argue), and now realises there are obviously some scenarios which mean no matter what the market conditions some people want to/have to buy.

Thanks for taking a balanced view - but I'd stress that I never said "don't buy, no matter what".

Advising people that now is not a good time to buy (which I have been saying for a year and a half here) is not the same as saying it's never a good time to buy.

(Unfortunately, this is yet another thing that the 'anti-bears' try to muddy the waters with when people give a bearish assessment of the current outlook.)

If for personal reasons someone wants to buy now, then that's what they must do, but at least they should go into the decision with their eyes open and knowing the possible implications for their financial position.

kennyboy66_2

tomstickland wrote: »

If people buy a house in 2001 and by 2007 it's worth twice as much then the increase in value is imaginary wealth, unless they sell at that moment.

It's back to the two antique dealers selling a mirror to each other for ever increasing sums of money and thinking that they're making profit.

This analogy might have a bit more validity if it compared something that people actually need.

I would struggle without a roof over my head - I think I could survive without a mirror, even if I had to grow a beard.

IveSeenTheLight

!!!!!!? wrote: »

I already explained that I feel the statement is justified, if you don't agree with me then fine but banging on and on isn't going to change my stance.

my apologies, I kept banging on about it as you were replying about labelling people bulls and not about the point I was trying to direct you to which was your stereotyping their response.

don't worry, I'm dropping it now as my head is getting sore from banging it against a hard surface trying to get you to respond to the point in hand

pickles110564

SingleSue wrote: »

I have no idea how busy/quiet our local town centre is because I have stopped shopping in it (or anywhere else for that matter!) apart from very rare excursions, I wonder if others have been doing the same as me :rolleyes:

The place is heaving to many out of townies i guess on a day trip to the seaside.
Anyway how about that Christmas snog?

tomstickland

kennyboy66 wrote: »

This analogy might have a bit more validity if it compared something that people actually need.

I would struggle without a roof over my head - I think I could survive without a mirror, even if I had to grow a beard.

Maybe you should reflect on that for a while.

JonnyBravo

!!!!!!? wrote: »

Thanks for taking a balanced view - but I'd stress that I never said "don't buy, no matter what".

Well thats how it came across, you thought it was sounding like that but it was coming across (and I'm talking about back in Jan/Feb time I'd guess) as "don't buy now whatever your reason".

!!!!!!? wrote: »

If for personal reasons someone wants to buy now, then that's what they must do, but at least they should go into the decision with their eyes open and knowing the possible implications for their financial position.

Absolutely agree and perhaps it's just the clarity of your message that has changed rather than your intent then.


As an aside why the change of heart on a flat as a possible BTL?

JonnyBravo

tomstickland wrote: »

Maybe you should reflect on that for a while.

Reflect?

:rotfl:

Very good. Very good.

I can see what you've done there

WTF?_2

JonnyBravo wrote: »

Well thats how it came across, you thought it was sounding like that but it was coming across (and I'm talking about back in Jan/Feb time I'd guess) as "don't buy now whatever your reason".

Fair enough ..

Absolutely agree and perhaps it's just the clarity of your message that has changed rather than your intent then.


As an aside why the change of heart on a flat as a possible BTL?

BTL can make sense at the right price. I don't like gambling in stocks and shares and banks never seem to give savers a fair cut of the money they make off the back of savings deposits.

BTL might be a sensible way to invest my cash once the market is more sane ... though I'm not sure if I want to get involved with the hassle/responsibility of being a landlord even should the sums make sense. Many people seem to think that letting a house is just about collecting the cash every month, not providing a business service and a vital service at that.