Where Are They Now?

Austin_Allegro

Dithering_Dad wrote: »

The problem I have the the "I saw it coming" braggards is that they apparently saw 'it' coming, but didn't really seem to do any about 'it', except continue to not be able to afford to buy a house.

I also 'saw it coming' but didn't feel the need to drive the message down people's throats (people will either listen to warnings or they won't - no use becoming a crank and have people start avoiding you) nor do I feel the need to do a big 'I told you so' either.

I simply put myself in the position to ride out any downturn in the economy and housing market. I took my pension out of equities and into cash funds, I paid off every bit of credit I had (including a 0% sofa loan), I built up an emergency fund that was originally covered 6 months outgoings but now covers 12 months and I then started to overpay my mortgage by a significant amount. I also encouraged others to do this, both on here and in 'real' life.

I think it says a lot about people's characters if they felt the need to brag about their equity and if they need to scoff at people's current difficulties. I've done neither, I have simply gotten on with my life and protected my family the best I could. I also believe that I'm not alone in this. I think there isa silent majority of people, who also 'saw it coming', but instead of arguing with internet strangers about it, quietly got on with preparing themselves.

Ah, I see...so you 'saw it coming' but didn't say anything in order to avoid scaring people? Hmm! (*rubs chin*)

I knew about 9/11 and Princess Diana's death before they happened but didn't tell anyone in case they thought I was odd. :rolleyes:

IveSeenTheLight

:hello: I'n still here

mitchaa

geoffky wrote: »

like i have saved myself 70k by not buying in aug 06 due to interest earned in the bank and price drops.....

I love this quote, how can you prove that you have saved 70k?

Have you just taken the average of 19% drops that we have seen from peak and worked that into your figures:rotfl:

What if your area has only fallen by 5%, and the street that you were interested in buying in hasn't moved an inch? How will you have saved bearing in mind to take your rental into consideration?

I think some people get far too carried away with it all;)

WTF?_2

poppy10 wrote: »

January 2008:




September 2008:

A prime example of how misconceptions created by the general abundance of HPI cheerleadering ended up actively damaging people's finances.

No wonder so many of those who were so vitriolic against posters warning of the dangers have disappeared - too ashamed to show their faces if they have a shred of decency.

Really2

!!!!!!? wrote: »

A prime example of how misconceptions created by the general abundance of HPI cheerleadering ended up actively damaging people's finances.

No wonder so many of those who were so vitriolic against posters warning of the dangers have disappeared - too ashamed to show their faces if they have a shred of decency.

Really !!!!!!,

On another post you were saying how it was a good time to trade up or down.
Even though house prices are falling and set to fall for at least the next year.
Would they not be losing more money due to the fact their more expensive house would devalue in real money more? Also promoting throwing money away on moving (moving costs and stamp duty etc) in the middle of a resession.

!!!!!!? wrote: »

they'll find that getting that bigger, better house now requires less money and for those who can pony up a decent deposit (using their equity from the old place) borrowing that reduced sum is very affordable thanks to slashed interest rates..

When are you leaving.;)

WTF?_2

geoffky wrote: »

what a load of rubbish.. so what you are saying is people who were saying there is going to be a crash have not saved any money and not positioned themselves to be able to take the opportunitys as the arise .They will have saved a lot more money in the time since and just by not buying will have saved themselves a fortune. like i have saved myself 70k by not buying in aug 06 due to interest earned in the bank and price drops.....

Amen. Based on prices in local estate agents; by actively taking the decision not to buy in early 2007 when the market was red-hot locally I have saved myself up to 60k on the sort of property I currently rent (2 bed terrace, FTB fodder) and >70k on the sort of property I would like to buy (3-bed semi).

All from a bit of browsing the internet for a few hours looking for reasons for the insanely high price level.

(Additionally, after reading more about the economic implications of the credit boom and how the UK was living beyond it's means even worse than many other countries, I've done rather well by holding off converting my foreign currency savings which have appreciated over 40% against sterling in the same timeframe. I started trickling them back to Sterling after they hit >20% gains as I never expected things to get quite this bad with the pound - luckily still have a good wodge so gaining from the current weakness of Sterling.)


So if I'd listened to the 'prevailing wisdom' as espoused by the more vocal posters a couple of years back on MSE who did their utter best to silence the voices of reason warning of price falls and economic woes ahead, I'd be looking at being >80k worse off (i.e. in mortgage debt) in a 2-bed terrace. As it is I'll hopefully be able to get a 3-bed semi mortgage free by the end of this year, or with a very small loan. If things go belly-up at work I have decent savings to fall back on and therefore more options that someone trapped with a mortgage on the dole.


I'm extremely thankful to the people who spoke out on internet forums and blogs that enlightened me and I make no apologies whatsoever for being a vocal 'doom monger' on MSE for the last 15 months or so.

chucky

!!!!!!? wrote: »

So if I'd listened to the 'prevailing wisdom' as espoused by the more vocal posters a couple of years back on MSE who did their utter best to silence the voices of reason warning of price falls and economic woes ahead

busted... you've only been a member since August 2007 - now you've confirmed it, what was your old user name or do you still use it. :T

mewbie_2

poppy10 wrote: »

Dolce Vita or Nelly. One of the two.

Right this is becoming a bit of a pain. I have just checked through dolce vita's posts to try to see where you're coming from. Yes he/she sounds a bit like me, in some ways - wordy, up @ss, bit c0cksure. The only 'proof' I can be bothered to present you is this post

http://forums.moneysavingexpert.com/showthread.html?p=8007841#post8007841

where he/she spells development incorrectly. A mistake I would not and have not made. These are the tiny 'tells' that can distinguish one poster from another.

Thanks to NDG for answering the Nelly accusation.

I will stick to my story which is that I am simply plain old mewbie, joined July, started as a troll bored with HPC simply in order to wind people up, and ended up enjoying it (the forum/people) far too much.

The reason I may come across as an older poster is that this is not the first forum I have had contact with, so my 'style' is born of fairly long experience of this sort of thing. Which is why I came in all guns blazing as it were.

I know you wont believe me, and don't know why I just broke off from work to bother with this.

Love and kisses,
Mewbs

WTF?_2

Really2 wrote: »

Really !!!!!!,

On another post you were saying how it was a good time to trade up or down.
Even though house prices are falling and set to fall for at least the next year.
Would they not be losing more money due to the fact their more expensive house would devalue in real money more? Also promoting throwing money away on moving (moving costs and stamp duty etc) in the middle of a resession.


When are you leaving.;)

I didn't say anything about it being particularly good or bad.

I merely pointed out that lots of people will continue to buy/sell houses irrespective of market conditions and whether or not it's a particularly good market for sellers.

The core market is powered by people who find changes in personal circumstance compelling them to move or sell up. The notion which you have put forward that the market will be restricted mostly to repos because prices aren't as high as the peak and potential sellers will therefore hold out is absurd.

WTF?_2

chucky wrote: »

busted... you've only been a member since August 2007 - now you've confirmed it, what was your old user name or do you still use it. :T

Because of course you can't lurk and read forums without being a member.