Property Snakes and Ladders; 2009

ad44downey

That can't be right. I'm sure she said she was POSITIVE (what with being an EA and all) that she'd get at least £475K for it. :rotfl:

GracieP

baileysbattlebus wrote: »

It depends on the risk. if he wanted to put a tenner on the horses that's one thing - if he wanted to sink every thing we had into something - that's entirely different. I'm a firm believer in one person having both feet firmly on the ground.

My husband has no grasp of finance, so all the big (and small) decisions are made by me. I'm a naturally cautious person, which is normally a good thing, but I have a virtual investment account that I use to practice and my virtual account made 2 million pounds in the last year. So actually it's a great pity I kept my feet on the ground, I'd never need to hang out on a board about money saving again.:(

bo_drinker

It'll be under 400k by Xmas :rotfl:

poppy10_2

GracieP wrote: »

I have a virtual investment account that I use to practice and my virtual account made 2 million pounds in the last year. So actually it's a great pity I kept my feet on the ground

I've got virtual lottery numbers that I don't play each week. They've never come up, so I've saved myself a tidy sum.:j I'd be gutted if they ever won though

Out,_Vile_Jelly

I don't watch these type of programmes*, but have thoroughly enjoyed reading the summaries and comments. Keep up the fine work.

* well, I quite like A Place In The Country or whatever it is, which is a comforting bit of teatime rustic escapism, like the Joan Hicks Miss Marples. "This one has lovely views from the 7th bedroom, but not quite enough land for Amelia's ponies".

poppy10_2

Programme is now available to watch on Channel 4's website:
http://www.channel4.com/programmes/property-ladder/catch-up#2923914

juvenal wrote:

These two couples tonight are the creatures created by Beeny, Krusty & co over the last decade.

Greedy, nothing to offer. Swallowed everything the telly told 'em. A nagging sense of entitlement, and an over-weening inner arrogance. Attitudes untempered by parental guidance and criticism.

Children of the last, lost decade.

Now confused and frightened, and blinking in the cold reality of 2009.

I can just see that little wannabe Sloany girl, and no cash to go out. She didn't see a future living with her Mother in a bungalow in Leatherhead.

Staring at each other across the laminate.

How did it all go so wrong?

RichardNL

ad44downey wrote: »

Good news. It's good to get a balanced picture and see greedy muppets lose money rather than make mistakes and still make money in a rising market.

Come on, not all these people are greedy muppets, they are taking a big risk with their money in the hope of making big rewards, they could just stick their money in the bank and earn a couple of percent like the majority of people. Just because they are willing to take the risk they are labelled greedy

RichardNL

poppy10 wrote: »

Valuations came in I think at between £1mil and £1.1 mil; Beeney advised them to stick it on at £900,000 but instead they decided to market it at £1.3m .

The developer guy is still posting from time to time over on Sounds like he has no regrets, will still be in +ve equity if he achieves £995k.

Yes still here, the shrug.....we wern't greedy, we took a valid valuation from an estate agent (not Foxtons) we also had a further two valuations of 1.2 million. The show made it look like we had picked the figure of 1.3 out of the air and were just being greedy

Richard

poppy10_2

RichardNL wrote: »

Come on, not all these people are greedy muppets, they are taking a big risk with their money in the hope of making big rewards, they could just stick their money in the bank and earn a couple of percent like the majority of people. Just because they are willing to take the risk they are labelled greedy

Hey, it's the Chiswick house guy! :T

Can I ask if you have you had any luck with the house since dropping the price to £995k?

Also, with the benefit of two years' hindsight, if you had the choice would you go through it again?

MyLastFiver

RichardNL wrote: »

Come on, not all these people are greedy muppets, they are taking a big risk with their money in the hope of making big rewards, they could just stick their money in the bank and earn a couple of percent like the majority of people. Just because they are willing to take the risk they are labelled greedy

Agree to an extent. Some people were foolish to speculate in a housing market that was plainly over-valued, but making an investment in the hope of a decent return is not greedy per se. As long as people accept that there's a chance they could lose their shirt, and don't complain when they do, they can do what they like with their money.

There's an awful lot of schadenfreude on this board towards property speculators, but is it not true that the housing bubble was driven by demand (inflated by cheap credit), and that property speculators were merely riding this wave? (to mix a metaphor!!).

There is, of course, the Marxist argument that, by treating their homes as capital, speculators are part of the bourgeoisie, but until private property is abolished altogether, buying a house and doing it up in the hope of making a profit hardly makes you George Soros.