Property Obsession

Afriend_2

HAMISH_MCTAVISH wrote: »

I actually think it runs deeper than that.

There is a peculiar resentment in Britain against success. As a nation, we don't seem to like people that take risks and make money. Calling them "chancers" or "spivs" or "amateurs", etc.

We tend to glamorise the underdog.

Which I don't think is entirely healthy.

I think many are dismayed that home ownership hasn't perhaps been as risky as it should be.

Without tax-payers bailing out risk taking banks, credit would have dried up and house prices crashed.
This is without factoring in the governments support for homeowners in difficulty.

Cleaver

Thrugelmir wrote: »

It can cost a £100k plus to pay for a patent. So where does that funding come from? An idea costs nothing, to make it into a valuable product costs money.

I wish you'd stop being interesting, knowledgable and correct Thrugelmir. It's making it quite difficult for me to post.

bigheadxx

Cleaver wrote: »

You could argue that the government is there to act on the wish of the people. I reckon most people would want to see their house price remain high and thus the government reacts accordingly.

I am happy for prices to fall. Whilst that reduces the value of my house it increases my purchasing power in moving to a more expensive property.

Thrugelmir

HAMISH_MCTAVISH wrote: »

I actually think it runs deeper than that.

There is a peculiar resentment in Britain against success. As a nation, we don't seem to like people that take risks and make money. Calling them "chancers" or "spivs" or "amateurs", etc.

We tend to glamorise the underdog.

Which I don't think is entirely healthy.

Risk what risk in BTL ?

Totally different to staking all ones wealth on building a business over many years.

Thrugelmir

Cleaver wrote: »

I wish you'd stop being interesting, knowledgable and correct Thrugelmir. It's making it quite difficult for me to post.

Apologies.........:o

Its far to late to go out and :beer:

HAMISH_MCTAVISH

Thrugelmir wrote: »

Apologies.........:o

Its far to late to go out and :beer:

Indeed,, but it's never too late to pour a nice glass of single malt at home.:beer:

HAMISH_MCTAVISH

Thrugelmir wrote: »

Risk what risk in BTL ?

Totally different to staking all ones wealth on building a business over many years.

Over 25 years, no risk at all really. The risk is all short term. Particularly for those that stretch to gain early in life, and then perhaps fall victim to recession or unemployment.

I find it admirable. Others find it reprehensible.

To each their own.

wageslave

I own 4 acres of prime building land. I did nothing clever to get it, it was quite literally handed to me on a whim.

I reckon it will be another 10 years before it will be worth developing. The crash has seriously interfered with my plans.

On the other hand I do realise the housing boom was only a good thing for a fortunate few and not for the country as a whole.

wageslave

HAMISH_MCTAVISH wrote: »

Indeed,, but it's never too late to pour a nice glass of single malt at home.:beer:

I have a bottle of Macallan somewhere

HAMISH_MCTAVISH

wageslave wrote: »

On the other hand I do realise the housing boom was only a good thing for a fortunate few and not for the country as a whole.

I would (obviously) disagree.

The boom was good for the majority. Anyone that owned property gained. They may not need to, or want to, realise that gain today. But they will eventually when they need to downsize or are able to upsize at a lower LTV and better mortgage rate, which outweighs the price difference in most cases these days.