Some of you are vultures

DirectDebacle

phil1873football wrote: »

referring to my previous points that you probably didnt read, my point was that I feel lots of people are holding off purchasing to delibrately push down house prices. Not saying its wrong, it's just my idea of whats going on.

I never thought of that. I suspect that people are holding off buying food and heating their homes for the same reason. The unemployed are probably avoiding applying for jobs so that wages will get pushed up too. :rolleyes:

neas

this thread is like a war of HPC and HPI

The_MoneySavingKid

tesuhoha wrote: »

I am shocked at the way a lot of you are laughing and rubbing your hands with glee at the house price crashes. Don't you realise that there are a lot of ordinary people who have lost everything? For you to be able to buy a repossession means financial ruin for some other unfortunate person and they have lost everything including their home through the sheer bad luck of trying to buy at the wrong time.

This person no doubt paid more for their house than the knock down price that you will pay so why do you deserve to have it rather than them? You are profiting off the back of other people's misfortune. You are trying to make out that everyone who has bought in the past is full of greed and is trying to price first time buyers out of the market. This is not true. There are many ordinary people who have struggled with mortgages for years.

This all gives me the uncomfortable feeling that there is going to be a hpc bloodbath in the next few months. Don't get me wrong I feel sorry for first time buyers but there seems to be a lot of opportunistic greed on this forum.

So it's wrong to buy a house because it's been repossessed?
Or am I interpreting this incorrectly.

neas

chucky wrote: »

you have mentioned affordability, price, BTL and HPI a number of times in your posts (i can only assume that you may have a personal issue with this); i suggest that you take more time to look at third world countries and their food problems. you would have to agree that this is a right that is more important than wanting to own a property of your specific preference

the focus of your energies would be used much more efficiently in these areas

I dont have a personal interest in this... im just savvy with money. I have a 30% deposit for a house already... and am working towards 40%.I just dont see the point overpaying for something.... Thats my own 'bias'. I dont like BTLers who mewed and mewed to increase their 'empires of debt'. Like the wilsons... two maths teachers lived the high life for 8-10 years maybe.... and now when it all comes crumbling down.. its not them who are forced to repay millions of ponuds of debt.. they will just go bankrupt and have the memories of the good times.I really dont see how the government could have allowed 2 individuals to amass such an amount of risky debt oO.

WTF?_2

phil1873football wrote: »

referring to my previous points that you probably didnt read, my point was that I feel lots of people are holding off purchasing to delibrately push down house prices. Not saying its wrong, it's just my idea of whats going on.

I don't think anyone is deliberately trying to push prices down. Not that they could, anyway.

If people aren't buying houses its a mixture of realising that the market is overpriced and that there are substantial savings to be made (in the order of tens of thousands) if current trends continue, knowing that they face an 'instant loss' if they buy, being fearful about taking on debt in an unsure economic climate and/or not being able to secure a large enough loan to meet the often stupid and unrealistic asking prices.

Add that up over the entire population and demand drops off pretty quickly. Couple that with increasing supply as people try to rid themselves of properties that they can't afford to service the debts on and you have falling prices.

Davesnave

phil1873football wrote: »

referring to my previous points that you probably didnt read, my point was that I feel lots of people are holding off purchasing to delibrately push down house prices. Not saying its wrong, it's just my idea of whats going on.

I'll admit to holding-off because I think prices will reduce further, but I don't come on MSE to deliberately 'push down' prices; I come here to see what others say about the market. Besides a few oldies like me, there are many, many more FTBs doing the same thing. They just want the same sort of deal on a purchase as their parents enjoyed, but that was unthinkable 18 months ago, and it's not there yet.

So yes, you're right, except that there's no organisation, just a much better and faster interchange of information via the Interweb.

TDS_2

phil1873football wrote: »

...my point was that I feel lots of people are holding off purchasing to delibrately push down house prices. Not saying its wrong, it's just my idea of whats going on.

I don't agree that people are holding off with the intent of push prices down. I believe that they are holding off because they believe that prices will come down. All other things being equal, one breeds the other.

Any road, why does it matter that people are intentionally forcing prices down? Did other people not intentionally force prices up.

You are a casualty of the latest HPI boom, and I commiserate. However, you seem to be implying that people should be buying your property at an inflated price to save your skin rather than acting in their best interests and buying when prices are lowest. I don't think that makes these people vultures - I'm sure you would do the same if you were in their shoes...

greenwheels007

Ok, I know I will be considered as evil for buying a repo when the prices have hit the bottom...
I will live with that.
I am currently the victim of the financial mismanagement of the plasma tv brigade, who in turn blame the bankers. I am getting awful return for my capital at the moment so when I buy a cheap house I will get my repayment.
Yin Yang dudes.
I'm not complaining at having to support the greedy at the moment, as long as I don't get abused when I get my opportunity.

greenwheels007

Hey what happened to the few people moaning that being a plumber was a real job!
I was enjoying the debate on that one, unfortunately the slightly lame pretense that they can justify ripping people off for all these years didn't hold much water.
I suppose we will have to return to more important matters now!

tiamai_d

greenwheels007 wrote: »

Ok, I know I will be considered as evil for buying a repo when the prices have hit the bottom...
I will live with that.
I am currently the victim of the financial mismanagement of the plasma tv brigade, who in turn blame the bankers. I am getting awful return for my capital at the moment so when I buy a cheap house I will get my repayment.
Yin Yang dudes.
I'm not complaining at having to support the greedy at the moment, as long as I don't get abused when I get my opportunity.

'ere, I'll have you know that I saved up for my plasma TV! Well, I saved up for a 'normal' TV and made the mistake of sending DH to tesco for a new TV when our old one went purple.... :rotfl: