Some of you are vultures

BACKFRMTHEEDGE

neverdespairgirl wrote: »

High house prices, and rapid HPI, are a social evil, in my view. HPI tends to transfer wealth from younger generations to older ones, and it drastically lowers everyone's standards of living as they pay through the nose for a roof over their heads.

HPI was insane over the last few years. It was obvious that house prices had soared out of control, and that was bad both for people who were priced out of the market and also people who had over-extended themselves to buy into the bubble.

I don't think it's a good thing for people to be repossessed. What alternative is there?

Lower house prices are, in general, a Good Thing.

You are starting to sound like Marie Antoinette. Forever boasting about rich an you and your family are and now telling posters that they are lucky to be losing their homes and jobs. Priceless.

BACKFRMTHEEDGE

carolt wrote: »

Really sad - you are exactly the sort of person who would have benefitted from advice on these forums before you bought - bit late now - and exactly the sort of innocent person who will be caught up in all the coming economic mess esp falling house prices.

I do feel for you - but do I feel in any way guilty, or 'vulture' like?

Hardly.

As anyone who knows my posts on these boards will now, I, along with most of the supposed 'vultures' here, did my damnedest in desperate posts as the market peaked, to dissuade you and others like you from buying; as we could see where it was all heading. For our pains, we were daily insulted, called 'losers', told we'd missed the boat, etc etc, and far worse - same as you were - by precisely those same people who now have the temerity (or is it just deep lack of irony?) to call us vultures!

I know I tried to warn as many people as I could to wait - and of course, we were proved right by events.

It is very sad that some innocent people will suffer as a result of prices falling.

But at least my conscience is clear. I did feel a strong moral imperative to warn people - sorry if that sounds pious or self-aggrandizing; but it just happens to be true.

I hope those who did their best to talk up the housing market as it fell around our ears can bear to look at themselves in the mirror, or read the headlines of families who bought at the peak and are now being thrown out onto the street, with as clear a conscience as I have.

Don't be sucked in by this guff. CarolT is the meanest of them all...:rolleyes:

115K

tesuhoha wrote: »

You're not scum. I feel bitterly sorry for all the young first time buyers out there and I agree with you about society. However, someone is going to get a bargain here. Just please spare a thought for at whose expense:
http://news.bbc.co.uk/1/hi/uk/7785185.stm
And this is just one of many.

I feel sorry for people being repossessed. This probably sounds like a stupid question but where do people like that family live after their homes are repossessed? Do the council have to rehouse them or would they have to go into private renting? How would they afford renting if their whole family is only on £13,000?

ad9898_3

tesuhoha wrote: »

You're not scum. I feel bitterly sorry for all the young first time buyers out there and I agree with you about society. However, someone is going to get a bargain here. Just please spare a thought for at whose expense:

http://news.bbc.co.uk/1/hi/uk/7785185.stm

And this is just one of many.

A sad tale indeed, however I still haven't seen any of the regulars on this board hoping for people to be repo'ed so they can get their hands on a house as you claimed in your first post.

To be honest I still don't see what HPC has to do with that video, the guy had some bad luck at work, otherwise he would still have a household income of 35k and would be paying his mortgage, nothing to do whether his house was worth £300k or £300.

tesuhoha

altyfc wrote: »

You talk of "these people" as being greedy, but wasn't it greedy for the people now in trouble to have bought something beyond their means?

In most cases not. Like the young gas fitter in the link i left in my previous post. He may not have been clever enough to predict what would happen to him and to take precautions against losing his house. He may well have taken out mortgage protection insurance but banks don't always honour this when the person is self-employed. However, I would not accuse him of greed. He was trying to do his best for his family exactly the same as the first time buyers who are now profiting from all this misery.

Anyone at all who has a mortgage is in a vulnerable position and could lose their home. Especially in these credit crunch times. I feel sorry for them and I feel sorry for the first time buyers having two children of my own in their early twenties who will never be able to afford to buy.

I suppose its not so much the goal scoring I dislike, but the goal celebration.

neverdespairgirl

BACKFRMTHEEDGE wrote: »

You are starting to sound like Marie Antoinette. Forever boasting about rich an you and your family are and now telling posters that they are lucky to be losing their homes and jobs. Priceless.

Eh? I didn't manage to read that in anything I wrote. Care to elaborate?

WISHIWASRICH_2

neverdespairgirl wrote: »

Or perhaps, as you yourself said about your own position, this is about your anger and jealousy?

I've being fighting my debt mountain for nearly 4 years. It's been a steep learning curve and I'm starting to see the light at the end of the tunnel but all of a sudden I've become full of anger and jealousy. I just can't stop thinking of all the money I've wasted since I left home over 20 years ago...the books,cds, clothes, toys., meals out.......I'm a loving person and I have a hubbie who loves me, 2 kids who love me and sisters, brothers and a dad who I can call friends....so being a generous , fun person is probably part of what they love...

...so why do I feel so eaten up with rage....why am I jealous of people who have more material things, why can't I just accept I made my choices?

http://forums.moneysavingexpert.com/showpost.html?p=4241622&postcount=1

That's real low dear, digging through my past posts. But just about what you'd expect of someone on this board. Have you nothing better to do with your life, love? Trashy.

st

it all started again after the 1997 elction and the Nu Labour Goverment specifically one G Brown -remember no more boom and bust.
with the Bank of England set free to set interest rates and all so their powers of keeping and eye on banks and financed insitutions removed -by Brown -loans and mortgages and chepa money -credit was easy and no controls or as in thepast proper Bank Managers to contol the loans and mortgages credit was cheap and people were sucked into this.
as a result property prices rose and rose at a crazy level--programmes like property Ladder encouraged wreckless borrowings giving quite happily by the Banks etc -
now look at the result -is like giving a child too much money and they go into the sweet shop and buy too many sweets then they are sick and now the UK is sick and private debt is the problem.
Yes i feel sorry for all homeoners first time buyers and those now struggling -but all this creidt debt has to be repaid and rathet than spend spend as Brown wants us to do -he is mad-we all need to start to repay the debt only then will life improve.

carolt

BACKFRMTHEEDGE wrote: »

Don't be sucked in by this guff. CarolT is the meanest of them all...:rolleyes:

What a rude person.

Like I said - my conscience is clear, but I suspect, as one of the chief HPI cheerleaders last year, yours is NOT.

neverdespairgirl

I was wondering why you were so angry. Then I looked at your previous posts, and found the explanation.