Some of you are vultures

chucky

Gorgeous_George wrote: »

There is no need for people to gloat when it means that others are suffering but that's life. I don't mind not having a new car providng my peers do not have a new car either. I don't mind living in a small house providing my peers live ina small house. It's human nature.

Life doesn't have to be fair, get used to it.

GG

should be the post of the month - very correct

1echidna

mewbie wrote: »

Which would be the exact same thing that happens in every bubble. You are right of course that very few identified the exact timing - to get in, or to get out.

Sorry, I've lost the point of this? What were you saying?

Was it about gloaters?

Not exactly about gloaters more about people who say they knew it would happen as some kind of reason as to why their words are especially important now. The trouble about bubbles as every chid knows is that they eventual burst at very different sizes and time frames.

greenwheels007

lostinrates wrote: »

I for one didn't time it nor guess it. By happy luck we decided not to purchase when newly married, a few years ago, which rally was luck, as it nt only saved us from that debt at that time but also gave us the flexibility we needed when we went abroad, which was at that time very unforeseen. Whn I started looking again in UK I was quite surprised even then at the rate of HPI and felt uncomfortable with the mortgage we would have to take (even with a large deposit particularly for that lnding climate) and how this would work for us. The more I looked the less satisfied I was for what we could safely afford and was very worried about how long we would be in these places before outgrowing them. It is now with some gratitude I look back to stumbling in here and finding out it wasn't MY maths that was screwy it was everyone elses, lol.

In all seriousness, we would have bought a suitable property at a suitable price a few times over the last couple of years, but at each stage we have felt strongr in our resolve to set upper price limits looking at what the property offers us in longevity and risk and stuck to our budgets. So far this will b the right decision, but of course it won't always be. My hope now is that the right property and the right time roughly coincide.

FWIW I don't consider myself particularly risk adverse, I've taken reasonable financial gambles before, but based on sound if simplistic reasoning.

Weel at leest yer maffs was gud cuz yer spellin is carp!

mewbie_2

Gorgeous_George wrote: »

There is no need for people to gloat when it means that others are suffering but that's life. I don't mind not having a new car providng my peers do not have a new car either. I don't mind living in a small house providing my peers live ina small house. It's human nature.

I am fortunate to be peerless.

Actually tbh, I don't look at others stuff much. I am fairly happy with what I have, there are people better and worse off than me - its no big deal.

SingleSue

I'm pretty much the same mewbie, I am on one of the lowest rungs but I don't sit here and wish for others to come down to my level.

To me, everyone is the same regardless of wealth or homes....they are people and it is the character of the person which counts.

chucky

1echidna wrote: »

Not exactly about gloaters more about people who say they knew it would happen as some kind of reason as to why their words are especially important now. The trouble about bubbles as every chid knows is that they eventual burst at very different sizes and time frames.

those same people that claimed they knew it was coming will say they bought into HPI when and if it comes back into the property market.

it sounds much better to say that they saw it coming and had predicted it to their peers. it's the same thing they doing now...

carolt

1echidna wrote: »

It is amazing the number of people who say they knew the bubble would burst. I maintain that, in the vast majority of cases, people stating this felt the bubble 'might' or even 'probably' would 'eventually' burst. Certainty doesn't come into the behaviour of markets and memory can become selective after the event, especially when there is a chance to crow about something.

Having only joined in March 2008, you missed the opportunity to view some of those posting most vociferously here such as BACKFRMTHEEDGE, posting last year how prices would only ever rise, shortage of supply, miss the boat bla de bla de bla.

So whilst not all those who foresaw the bubble bursting may have been that precise in their forecasting, there were some really spectacular examples of people here who not only missed the finer details, but were actually convinced prices would continue rising ad infinitum, or at worst just stay level for a year or 2!

I think history makes clear whose predictions were more radically wrong.

greenwheels007

So maybe the bubble bursting may or may not have been predicted but who knows whether it will nose dive or go flat for a year or two, maybe this persons predictions will prove to be correct?

I think they will dive, but don't 'know'

Gorgeous_George

Financially, I'm comfortable.

But I'd swap wealth for health anytime (and I'm not particularly unhealthy).

GG

mr.broderick

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 know, 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.[/quote]

What is all this baloney? People chose to buy instead of rent, so what i they drop 16%? mortgage will probably be less at this point unless they fixed the rate. I can't believe i am reading this tripe.