Poor old Wilsons

mewbie_2

Dithering_Dad wrote: »

I'd have thought it was more the BoE and Labour's fault, surely?

I don't suppose it was anyone's fault really, just a market gone mad, which happens every so often. Cheap and easy money, ability to invest it in a geared fashion on an asset increasing between 10-20% a year - no wonder so many jumped into BTL. And no doubt those who jumped in AND jumped out made a very nice profit.

Casualties of this were priced out FTB's and over borrowed FTB's, and of course eventually all of us who will be paying back the decade of boom.

I think of the Wilson's as a symbol of that madness, greed - and in their case as you say Fergus is a nasty piece of work. A convenient hate figure. But responsible for anything - no not really. Just a particularly mad and obsessed focus on chasing the bubble and self publicising.

Dithering_Dad

Graham_Devon wrote: »

I can't see anywhere on here that anyone has stated that the Wilsons are accountable for the whole mess of HPI?

you're not looking hard enough graham

Besides, it's not just the Wilsons's it's that dark haired chubby lass and her mate, the balding bloke (I've forgotten their names). They're all in on it together, it's a conspiracy I tells ya!

Graham_Devon

Dithering_Dad wrote: »

you're not looking hard enough graham

Besides, it's not just the Wilsons's it's that dark haired chubby lass and her mate, the balding bloke (I've forgotten their names). They're all in on it together, it's a conspiracy I tells ya!

Krusty?

I like the bald bloke better than Krusty tbh, more down to earth.

Dithering_Dad

Graham_Devon wrote: »

Krusty?

I like the bald bloke better than Krusty tbh, more down to earth.

Thats it - krusty and phil. The twins of evil according to many on here, though I bet any of them would talk to a camera about houses if someone put a roll of 50's into their palms..

bubblesmoney

chewmylegoff wrote: »

house worth £100
mortgage £90
equity £10

house prices fall by 5% - your equity (i.e. "wealth") falls by £5 - or by 50%.

Aah the joys and sorrows of leveraging for investments. be it shares or houses (or even the debt of nations) it will be the same story. make hay while the sun shines and lose every penny and more when the sun sets when one spends more than they earn on investments.

Alan_M_2

GDB2222 wrote: »

Out of interest, what's wrong with home-grown granite? It seems crazy to move the stuff thousands of miles.

Mostly it's the geographical spread of colours....i.e Balck Galaxy (Star Galaxy) only occurs in one region of India...so that's where it comes from.

Emerald Pearl and Blue Pearl come from Norway..its' where the stone occurs, but the cost of living is so high there that it's shipped to China and India for processing then shipped back to the end wholesaler.....

I'd love to sell UK sourced material...the problem is it's not a popular colour and the production costs are so high, it would still be cheaper to ship it to China/India..get them to process it then ship it back...

Alan_M_2

MissMoneypenny wrote: »

Fergus stated that on the documentary Alan M is talking about, that their mortgages were interest only.

He did indeed, He also stated that they removed £10 from each property per month as income and the excess went back in capital repayments.

However, the bottom line of every thread that involves these people is hate and dislike and a wish that they go bust.

Yet no one, no where has ever produced any hard figures other than speculative numbers based on vague journalistic calculations.....

I still say they will remain multi millionaires for the rest of their days until I see otherwise....I still don't understand the hate directed towards these people...unless of course you are an unhappy tenant and have first hand experience of dealing with them...if you are, I'm very interested to hear your story.

Alan_M_2

Graham_Devon wrote: »

Do you not see the problem here?

They wiped people off the housing market by buying up in such huge swathes.

It's a bit like a food crisis going on, and then someone who's succesfull buys up all the food thats left and sells it on to us all for double the price.

I doubt you would be saying the same thing then?

So what you're saying here, in a round about way is the Wilsons are single handedly responsible for HPi in an entire region of the South East.

What would have happened if they had not chosen to buy these properties? How different would you expect pricing to have been?

Or would you have expected someone (or lots of smaller investors) to have stepped in and filled their boots instead?

Alan_M_2

JayScottGreenspan wrote: »

Exactly. I go to Tesco and buy all of the bread. Then I set up a stall outside selling bread at £10 a loaf.

What a great service!

Alan M seems to want to pretend that the UK housing market is an efficient market, and that the Wilsons' are ironing out pricing anomalies.

The UK housing market is one of the least efficient markets in existence. When prices go up, supply of credit goes up and demand goes up. When prices go down, supply of credit goes down and demand goes down. Any reaction in supply is slow and limited.

The government's failure to regulate the market is criminal. The spivs exacerbating it must at least be on a par with those who invest in tobacco or arms stocks.

So as my comments in the above post , feel free to explain what would have occurred had the Wilson not chosen their course of action...

Would it be more palatable to you if 100 amateur landlords had bought the houses rather than 1 professional landlord buying all 100 (insert your favourite number as required)?

Alan_M_2

JayScottGreenspan wrote: »

What about if your transactions involved you outbidding the fitters / end users for the exising UK stock of granite. Would you be providing a service then?

That's exactly what I do, I buy in stone at wholesale prices in bulk and I sell at wholesale prices to whoever wants to buy it.....I don't differentiate between trade, retail or whoever...I differentiate purely on quantity, the more you buy the cheaper it becomes.

That is after all the ethos of the very site we're posting on....

Do you have a problem with this ethos?

If we're comparing this to the bizarre food (Bread) analogy earlier in this thread, then what I'm actually doing is going to the people who supply Tesco their bread, I buy from them directly then set up stall close by Tesco and under cut them.....

So again we arrive at the same questions, Had the Wilsons not chosen their particular course of action what would have been the effect of the housing market in the area in question?

I personally don't believe for one moment it would have changed a thing.