Property Obsession

Cleaver

Thrugelmir wrote: »

The obsession with property is understandable. Why spend years of your life qualifying to be a heart surgeon, barrister, or even attempting to get 60 minutes of fame on the television to become a celebrity. When property speculation requires no effort, no qualifications, no knowledge of business (in the widest sense), no initial capital and very little education.

You can get a basic job. Buy your first house and you are away. Keep on using existing equity in your properties to purchase yet more property. If you need money for holidays and new BMW's. Just buy another one give it a coat of paint and hey presto no need to work again for 3 months.

As a genuine question, why do you think there is such resentment for people who go for the easy route of making money? You'd think someone who choses the route of making the most money possible for the least effort would be congratulated. Do you think it goes back to our roots, our grandfathers earning an honest crust doing 12 hours a day on the factory floor?

For example, if someone sits on their backside investing in shares for a living they tend to get lauded as a shrewd, intelligent, clever person who makes money from the financial markets. Propety, both doing up and selling / buying and for rental, seems quite a lot of work in comparison and gives you quite a bad reputation.

bumpoowee

Cleaver wrote: »

As a genuine question, why do you think there is such resentment for people who go for the easy route of making money? You'd think someone who choses the route of making the most money possible for the least effort would be congratulated. Do you think it goes back to our roots, our grandfathers earning an honest crust doing 12 hours a day on the factory floor?

For example, if someone sits on their backside investing in shares for a living they tend to get lauded as a shrewd, intelligent, clever person who makes money from the financial markets. Propety, both doing up and selling / buying and for rental, seems quite a lot of work in comparison and gives you quite a bad reputation.

It is also much easier for less talented memebers of society to get rich by dealing drugs, but I don't think anybody congratulates them for that (well I hope not anyway).

Cleaver

bumpoowee wrote: »

It is also much easier for less talented memebers of society to get rich by dealing drugs, but I don't think anybody congratulates them for that (well I hope not anyway).

That doesn't really illustrate my point though. As long as the practice is legal, and in a very general way, most people would opt to make as much money as possible for doing as little as possible. Property has been a way to do this for 10 or so years and I was just questioning why it is derided so much.

Edit: Sorry, I should have probably used another example. Let's take entrepreneurs who come up with a simple yet genius idea / object that they then sell to make a fortune. Very little 'work' involved for some of these, yet I think we would all congratulate them. Why is making money from property any different?

bumpoowee

Cleaver wrote: »

That doesn't really illustrate my point though. As long as the practice is legal, and in a very general way, most people would opt to make as much money as possible for doing as little as possible. Property has been a way to do this for 10 or so years and I was just questioning why it is derided so much.

I don't think most people have a problem with somebody finding a way to make money as easily as possible, I would think it is more to do with making money out of people's homes being somehow immoral as to why property 'investment' is derided.

Also a lot of the stories that you hear about landlords depicts the whole industry as a bit grubby, with a lot more people going to University and being in private rented accomadation there are more people exposed to the less desirable landlords around which proliferates the perception.

wageslave

Cleaver wrote: »

For example, if someone sits on their backside investing in shares for a living they tend to get lauded as a shrewd, intelligent, clever person who makes money from the financial markets. Propety, both doing up and selling / buying and for rental, seems quite a lot of work in comparison and gives you quite a bad reputation.

Didn't used to be. My Da made a fair whack of his money from property. He seriously liked owning stuff. Land and commercial property were his all time favourite things but he wasn't adverse to the odd house or two.

I think it is the whole amateur landlord/ doer-upper that sets peoples teeth on edge. Doing something badly and still making money at it just seems plain wrong.

We admire excellence and are happy to see it rewarded. Mediocrity not so much.........

Cleaver

bumpoowee wrote: »

I don't think most people have a problem with somebody finding a way to make money as easily as possible, I would think it is more to do with making money out of people's homes being somehow immoral as to why property 'investment' is derided.

That's a very good point.

bumpoowee wrote: »

Also a lot of the stories that you hear about landlords depicts the whole industry as a bit grubby, with a lot more people going to University and being in private rented accomadation there are more people exposed to the less desirable landlords around which proliferates the perception.

That's another very good point.

Rather than argue with you for the sake of it I might just conclude that you've answered my question. Cheers.

bigheadxx

I would definitely expect prices to fall after the election because it is the governent that is obsessed with house prices because rising prices indicates rising confidence which is always good for a sitting government.

It is disgraceful for the government to hell bent on propping up prices under the guise of "we must help the economy during the recession" This policy is going to inflict more pain on unsuspecting families for years to come. BUY now and be in negative equity by Christmas 2010.

Property is the best bet against inflation in the long run but only if you buy at the right time.

Cleaver

wageslave wrote: »

I think it is the whole amateur landlord/ doer-upper that sets peoples teeth on edge. Doing something badly and still making money at it just seems plain wrong.

Still doing something though innit?

Mrs C worked for a company who had a share save scheme a few years ago. We knew the basics that we couldn't lose and just pumped in the max each month. To cut a long story short we put in around £8,000 and got back over £30,000 when the shares were delisted as the company got taken over. We did nothing. Nada. No research or anything. Just complete and utter luck. Do you think that seems plain wrong too?

I ask as a genuine question, not really in an argumentative mood this evening.

Cleaver

bigheadxx wrote: »

I would definitely expect prices to fall after the election because it is the governent that is obsessed with house prices because rising prices indicates rising confidence which is always good for a sitting government.

Do you reckon? I think it's the general public that are obsessed with house prices and our government reacts accordingly to keep 'us' happy. Chicken and egg I guess.

bigheadxx

Cleaver wrote: »

Do you reckon? I think it's the general public that are obsessed with house prices and our government reacts accordingly to keep 'us' happy. Chicken and egg I guess.

Well yes but this government should know that the game is up and start acting in the long term interest of the country.