How does losing a fifth of your wealth feel?

FungusFighter

If houses have crashd 21% from peak, how are those who bought at the peak feeling?



Pickles anyone?:beer:

ad44downey

I suspect that all the jonny come lately BTL spivs are feeling rather ill right now!

Pssst

Dont sweat about it. If you like the house your in and you can afford it then get on with your life.

FungusFighter

ad44downey wrote: »

I suspect that all the jonny come lately BTL spivs are feeling rather ill right now!

You missed out "greedy" mate :beer:

Peeps always forget that

lostinrates

People lose money all the time. I was considerably better off before I was ill, and spent lots on healthcare and costs of living. Its life.

TBH, if I had a house I wasn't planning on moving from and had kept my job I wouldn't really care too much.

The people who I feel most sorry for are people who have committed themselves to the very edge of comfort to get on the ladder and are ''stuck'' tiny studio/1 bed homes falling in value with no room to ''grow a family'' in whose lives may really feel an impact from the insanity of the market.

Rochdale_Pioneers

If its a theoretical value of your house if you sold it, then its not "wealth" - you can't lose a 5th of what you don't have.

A house like any other item is only worth what someone is willing to pay for it. If someone thinks that a notional value of something they haven't sold makes them rich then more fool them.

FungusFighter

I know this bloke who bought right at the peak with a megamortgage for £350k, thought a bit of magnolia and some lanimate flooring would make it worth £650k, then £600k, then £550k plus, now he don't talk about it no more :rotfl:

I wonder if he's feeling ok - pickles, you feeling ok mate?:rotfl: :rotfl:

purch

How does losing a fifth of your wealth feel?

I've had worse days :eek: !!!!!!!!!

System

It's not real wealth, I seriously doubt anyone except BTLers care.

The only people that really really care are the peasants that have no chance of ever affording a place until they drop by the fantasy figure of 70%

bendix

My net worth is around 20% higher now than it was this time last year.

Thank you very much. I'll get my coat

moggylover

I feel fine about it tbh:D .

Sorry for those entering negative equity, sorrier still for those that find that something to crow about;) . Karma peeps - never does one any favours to gloat at others misfortune:D

I may not approve of BTL, but they were only doing what our Society encourages and trying to make themselves rich. There are worse ways to do it, tbh.