Bears In Despair part 2......

HAMISH_MCTAVISH

STR..... How to lose a lot of money in a house price crash!!!!!!!!!!!!!!

http://www.housepricecrash.co.uk/forum/index.php?showtopic=125639

:rotfl::rotfl::rotfl::rotfl:

Yes, an hpc-er admits to losing......











wait for it.........











£200,000 by STR-ing at the wrong time back in 2005.:eek:

Priceless.:D

FungusFighter

HAMISH_MCTAVISH wrote: »

STR..... How to lose a lot of money in a house price crash!!!!!!!!!!!!!!

http://www.housepricecrash.co.uk/forum/index.php?showtopic=125639

:rotfl::rotfl::rotfl::rotfl:

Yes, an hpc-er admits to losing......

wait for it.........

£200,000 by STR-ing at the wrong time back in 2005.:eek:

Priceless.:D

Well that was riveting, anyone see the footie?

Thrugelmir

A quote from the thread.

By many measures property is 50% over-valued, but the people ain't listening and the British love of bricks and mortar goes on unabated

Appears that the runes have not been read by many. :rolleyes:

Meanwhile bears have pocketed good profits on the FTSE while the bulls continue to play with their lego bricks. :beer:

HAMISH_MCTAVISH

Thrugelmir wrote: »

A quote from the thread.
:beer:

Another couple of quotes from the thread.....

We lost about £200K. (Adding rent paid out, change in selling price between what we achieved and what the flat sold for 18 months later, and various bits and bobs).

And heres one dripping with sarcasm.... Especially for those who claim to be minting it in the markets instead.;)

People should realise the inherent dangers before thinking about STR. Timing is absolutely key.

If you believe most on here it's a no brainer, and easy to make shed loads. Lots seemed to have STR'd between 2002 and 2005. Anyone who did must be hurting financially. Except of course all these property experts are also financial geniuses who bought gold, or gold mining shares.

Or there's this one..... How to lose 70K in less than a year......

Same in Northfield W13, a 3 bed terrace was selling at 370k last year, now same houses are selling at 440k within days!

But this one is particularly satisfying.:D

I got the best one:

2 bed house, Sidney St, London E1, at 2007 peak £305k.

In April one went for £275k - felt a bit gutted i missed it, about the only property ive looked at that i think i could have had.

One has just gone on this week with Foxtons for...£375k.

So 2007 is no longer the high point, the high point is this week...

And we'll close it off with my personal favourite.....

See that little Bull/Bear tag on your profiles?

Time to change it.

:rotfl:

FungusFighter

HAMISH_MCTAVISH wrote: »

Another couple of quotes from the thread.....



And heres one dripping with sarcasm.... Especially for those who claim to be minting it in the markets instead.;)



Or there's this one..... How to lose 70K in less than a year......



But this one is particularly satisfying.:D



And we'll close it off with my personal favourite.....



:rotfl:

No offence mate but you really need to get a life:cool:

(Or you'll end up like Pickles the only one reading yr own threads and having to invent 30 alters to thank yerself:D)

HAMISH_MCTAVISH

FungusFighter wrote: »

No offence mate but you really need to get a life:cool:

(Or you'll end up like Pickles the only one reading yr own threads and having to invent 30 alters to thank yerself:D)

Says the man who not only read my thread, but posted on it twice.:D

Thanks for the bump though.:T

SingleSue

Do you know Hamish...sometimes I like you and am interested in what you write but other times, I really really take a dislike to a post you make.

I have let it be known I am of a bearish nature but in all of that, I am a human being first and that means I have thought and feeling to my fellow man (woman). I don't ridicule them if they make a mistake, I may think silly begger but I don't crow about it and laugh at them.

We all make errors of judgement (mine was marrying who ended up not being such a nice person - took me 20 years to find out though!), it is how we learn.

HAMISH_MCTAVISH

SingleSue wrote: »

Do you know Hamish...sometimes I like you and am interested in what you write but other times, I really really take a dislike to a post you make.

I'm me.

100% of the time, what you see is what you get.

I make no apologies for being me.

I'm not here to make funny comments, be sensitive, sympathise, post like mewbie, give <<hugz>>, boost my thanks count or anything else.

I'm just here to have intelligent debate and tell it like it is.

If you like that, then great.

If you don't, then whatever.....

I have let it be known I am of a bearish nature but in all of that, I am a human being first and that means I have thought and feeling to my fellow man (woman). I don't ridicule them if they make a mistake, I may think silly begger but I don't crow about it and laugh at them.

Thats nice.

What you don't realise, is that many of those bears I now make an example of have been ridiculing those of us who explained clearly why things would not be as bad as they thought.

Only for them to now be proved wrong.

And in the meantime they have been quite vociferous about trying to selfishly persuade potential FTB's to stay out of the market, so that they can have cheaper houses.

Highly irresponsible behaviour as it turned out, so now it is our turn to show that their arguments "had no veracity".

We all make errors of judgement (mine was marrying who ended up not being such a nice person - took me 20 years to find out though!), it is how we learn.

We do all make mistakes. But some are more expensive than others. As it turns out, becoming bearish on UK housing and falling into the bear trap of HPC has proven to be a very expensive mistake indeed.

In the vast majority of cases, people should just have followed the tried and tested wisdom of buying as early as possible and not wasting money on rent.

Thankfully, there are now enough bears out there admitting to losing such vast sums of money by waiting for a crash that failed to live up to their expectations, that hopefully the young and naive can learn from those mistakes.

Davesnave

We STR'd in January this year. We did it because there was nothing around for us at that time and we figured someone would need our cash in a hurry at some point.

It turned out, we were right. A good deal for us, and the chance to move swiftly to a new life for the other party.

I have no idea how much we made while waiting, but with a substantial sum spread across many accounts, several of them paying over 6%, we were well in profit. Yes, it would be getting tougher now, as the best deals would soon be ending.

None of that makes me want to laugh at someone who made a mistaken judgement some years ago, or to advise people in definite terms what they should do today. You pays your money and you take a bit of a gamble, especially now.

If we'd sold at the peak of the market, about £50k more would have come our way, but we didn't manage the timing. Against that, we gained some money on renting and did a good deal in a depressed market.

Did we win or lose? I've no idea! We won't really know for years. Life isn't that simple, and nor is decision taking, no matter how black & white some want to paint it. We are getting on with our lives though. I agree, it's no fun being in deferred-decision land.

It seems to me that the theory on these threads often sits uncomfortably with practice. The real stories are all on the other channel where people's accounts show them are struggling with buying, selling and sustaining their mortgages in what remains a very tricky economic situation.

If you are getting on with life, doing well, or even faring badly, you won't be too concerned about who might once have laughed at you on some internet forum.

IveSeenTheLight

HAMISH_MCTAVISH wrote: »

We do all make mistakes. But some are more expensive than others. As it turns out, becoming bearish on UK housing and falling into the bear trap of HPC has proven to be a very expensive mistake indeed.

Someimportant lessons are learned from mistakes.
Some important inventions were found through mistakes.

The important point here is that in my opinion, it is grossly irresponsible to give direct advice whether to say "Sell, Buy, STR, don't sell, don't buy, house prices to drop further by x%, house prices have risen by x%" etc etc etc.

The reason being is that we are not responsible for those decisions that others take even if we are hoping to gain from a wider collective of what we want.

We should always provide pointers into how the people can obtain the information in order to do the research and thus they can then make the personal decisions based on their analysis

This is an internet forum and people will come here looking for advice, it may be a small difference in wording, but it should be understood that nobody on here gives advice, we only give opinions

Maybe the biggest mistake people make on here is taking opinions from here (or HPC or any other internet forum) and basing it for the decisions they make

Spiv_2

HAMISH_MCTAVISH wrote: »

What you don't realise, is that many of those bears I now make an example of have been ridiculing those of us who explained clearly why things would not be as bad as they thought.

Only for them to now be proved wrong.

And in the meantime they have been quite vociferous about trying to selfishly persuade potential FTB's to stay out of the market, so that they can have cheaper houses.

Highly irresponsible behaviour as it turned out, so now it is our turn to show that their arguments "had no veracity".



We do all make mistakes. But some are more expensive than others. As it turns out, becoming bearish on UK housing and falling into the bear trap of HPC has proven to be a very expensive mistake indeed.

In the vast majority of cases, people should just have followed the tried and tested wisdom of buying as early as possible and not wasting money on rent.

Thankfully, there are now enough bears out there admitting to losing such vast sums of money by waiting for a crash that failed to live up to their expectations, that hopefully the young and naive can learn from those mistakes.

'tis all true.