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crusty_toenail

Treadmill wrote: »

Phase 2 ? Is that the part that happens in about 2019 when prices peak and start falling again ?

lol, you watch this space;)

Really2 wrote: »

I take it you had a £1m - £700,000 house? (seeing the house you sold is now available at £80K less)
So you prefer renting than living rent free?

Not quite, I'm not that loaded, lets just say I sold for around the 200k mark and those houses are now being valued and sold at 120k.

HAMISH_MCTAVISH wrote: »

Interesting. Does the council know you live there?

Well they collect my bins so I guess they do?!!:T

Really2

crusty_toenail wrote: »

Not quite, I'm not that loaded, lets just say I sold for around the 200k mark and those houses are now being valued and sold at 120k.

I sold in early 2008 for £190Kand would struggle to get the same house for £170K- £160K

Why as your old house fell 40% in just over 1 year?

fc123

mewbie wrote: »

What is amazing is that not one single person every admits to having made a mistake. Not one.

I'll be the first. I should have got into BTL big time in 2001, gambled everything and got out in 2006. Would have made a fortune.

Anyone else?

OK , Me too. I will join you.

IF (and it's a big IF) we had not put a scary 100k into something else ...and lost it, then we should have done it too....from 2000 to 2005. And OH is trained carpenter etc (can do everything except Corgi reg stuff and electrics).
However, it's dead easy to say it NOW as we have hindsight. Who knows? We could have ended up like a couple we know who renovated and geared up from 1999 to 2007....with the whole dam profit (and it was several hundred thou) going into The Big One.
They (it was several conv flats) hadn't sold as at end 2008 and they were in the s81t big time.


And the 100k we lost? Well, provided a very expensive lesson in a few things that I have since reaped the rewards from from so the old mantra 'Not a fool who makes a mistake, but is one who makes same mistake twice' is true.
Hence my sig.

I also reckon OH wouldn't have jumped out in 2007 either...so perhaps we saved ourselves 500k in the end? Who Knows?.

crusty_toenail

Really2 wrote: »

I sold in early 2008 for £190Kand would struggle to get the same house for £170K- £160K

Why as your old house fell 40% in just over 1 year?

I live in Northern Ireland, we had the biggest housing bubble fuelled by Republic of Ireland speculators, now the bubble has burst big time here and in the south, still falling too.

mewbie_2

fc123 wrote: »

I also reckon OH wouldn't have jumped out in 2007 either...so perhaps we saved ourselves 500k in the end? Who Knows?.

The point about gambling is that gamblers don't normally stop. The Wilsons being a good example. I suspect there are many whose projects got bigger and bigger as the boom went on.

fc123

dopester wrote: »

With poor choices on important decisions, it can impact for years to come.

But sometimes one dosesn't know they were poor choices until later on. It's one of life's little snags.

wageslave

Financial mistakes I have made. Jeez where to start.

Paid mortgage on an empty house for two years instead of standing up to my ex. Didn't go for child support from same ex, see above for reason.

Paid off my mortgage just before interest rates crashed and burned. Turned down very good offer for some land I owned at the height of the boom.

Dont even start me on the disaster that is my personal life......

PasturesNew

StevieJ wrote: »

Do you rent the eqivalent house to the one you sold?

No. To do that would cost me £1200-1500/month where I am now, and £1300-1500 where I was living.

I live in the cheapest place I could find that was clean, secure and had an off road parking space.

The cost of renting is exhorbitant! Astronomical!

I couldn't even afford to pay LHA rates. It's crazy out there ... because at the end of the day, rents are in some way linked to house prices because the LLs want/need to cover at least the interest on their BTL mortgage at the silly prices paid for houses.

Renting alone is not good because the lowest priced places are still unaffordable for many.

PasturesNew

Pobby wrote: »

Cleaver, it`s so refreshing to read that above post. The way some people describe there lives on here makes me feel a positive failure.

I post my "look how little I earn" postings just so they get a nice warm glow of smugness ... and don't pick on me

fc123

mewbie wrote: »

The point about gambling is that gamblers don't normally stop. The Wilsons being a good example. I suspect there are many whose projects got bigger and bigger as the boom went on.

It came up on a thread a year or so ago.....how the bankers were reeling from losing their jobs (or similar type of thing) and not coping with how it felt. To go from being 'worth' 100k pa one day to zero the next.

Many (myself included at times.....I do confess) see where they are earnings wise and career status wise as a recognition of how dam fine and wonderful they are at their job and from their wise life choices.

You see it all the time but 'Thou doth protest too much'' comes to mind sometimes. If one is so sure about it, you don't have to keep telling all and sundry how 100% your life choices were/are.

I know if a good friend of OH's who had a nasty and expensive divorce after 15 yrs. A group were discussing it and they were all mates from school. One said ''Well, what did he expect, marrying the prettiest girl in the class?'' Like he made the wrong choice all those years back...
OK, he became well known in music and earnt serious cash..and she just went for him....but how was he to know that she would dump him 15 years later?

I get the 'Married for 24 years' cheer + clap sometimes. Also a cheer + clap for having 2 kids from same father despite a 7 yr gap. That was just luck really. Was I more wise and smart @ 22 when selecting my life mate than my fiends who are now divorced? I don't think so but it could be presented as such.

Mind you....
I put it down to being an absolute bargain of a wife as I bring in the £££ and mop the floor and do a mean roast every Sunday.