The Wilsons are going under.

fc123

dopester wrote: »

fc, it was this thread from Hamish, which was a good question, but he tinged by his use of words such as "admit defeat."

Hamish_McTavish: A serious question for the Bears....

Yes fc. I caught mention of the debt outstanding to you in another thread (one where you said you'd have to look more at 'free' stuff to do leisure wise, such as museums, if the payment doesn't come good) and felt bad about it. Hoping that it comes good for you fc.

I'm sticking to my own position at the moment... it doesn't so much matter that interest rates are low. What matters is the amount of money coming into the market to buy. That is what determines values over the longer term, even if the market is currently pretty stagnant transaction wise.

Maybe I'm wrong but it seems to me that £60K you bought your 1st house for... back in the day (late 80s and then you managed to buy a very desirable house you were very happy with in the early 90s I do believe.. when values were at lows?).... that £60,000 is beginning to look and sound evermore like serious money again to many people. Or at least fewer people taking such sums for granted like pre-crunch. If you look at it from the perspective of shaky job prospects, many experiencing tougher trading conditions and tighter credit - but not for all people obviously.

I read the Hamish post and it seems to miss out at what point people are in their lives.

So for you, I have no idea at what point you are in your life (single, partner, settled in career for life or still unsure, happy with your current living situation and so on).....and you don't need to say....of course.:D


The biggest 'danger' is waiting and waiting for something a little bit more for the money, a little bit better and, you know what?, one could wait forever.
OK, you need to read the market but, still, waiting 6 years like the person mentioned before when they were ready to buy seems not sensible to me...but then we have hindsight now.:o

Like buying a car.....you have a budget...but it always seems that a few 100 or thousand more gets a far better car.

It's hard with houses especially. I have only bought twice but assisted 4 family members find places over the years (I really am a wannabe Kirsty and Phil) and every single time it felt like there was a whole lot more house or better street if one could just plonk a bit more into the budget.

This was during a more static market in the mid 90's so prices didn't really change.
We would all have had breakdowns if it was now as would we have waited for the drop to get a better street or bigger property? Maybe.

PasturesNew

fc123 wrote: »

it seems to miss out at what point people are in their lives.

Which is mostly what it's all about isn't it.

I couldn't buy now, even though I "could"... because at my point in my life I'm all lost, confused, without direction and needing a job so I can know "which town" to be in.

For people who grew up in one place, met somebody, settled somewhere, they all have a "sense of place", which I completely lack.

I'd love to buy a house now... but the big one is "er, where?". You can't just pick somewhere to live because you need a job, a job you like, a job that'll be lasting more than a month or six.

It must be great being retired, at least you can pick where you want to be without having to think about income/jobs at least.

fc123

PasturesNew wrote: »

Which is mostly what it's all about isn't it.

I couldn't buy now, even though I "could"... because at my point in my life I'm all lost, confused, without direction and needing a job so I can know "which town" to be in.

For people who grew up in one place, met somebody, settled somewhere, they all have a "sense of place", which I completely lack.

I'd love to buy a house now... but the big one is "er, where?". You can't just pick somewhere to live because you need a job, a job you like, a job that'll be lasting more than a month or six.

It must be great being retired, at least you can pick where you want to be without having to think about income/jobs at least.

Absolutely.....I think Hamish just see's things in black and white. Not a critisism, just an observation.

I have loved to read about your 'gap year' and it was time out that you needed too. The next bit of the gap year may be a bit fraught but worth a shot at least. ...just to see what happens.

For you personally, you could, in theory, buy ''anywhere'' if you worked online from home as self employed but I think that could be a bit isolating for the rest of your life.....so, I agree, it's more often about where you are in life at the time.

carolt

And here are the Wilson's latest tips for how to succeed in BTL:

http://www.telegraph.co.uk/property/investmentinproperty/6672288/10-tips-for-buy-to-let-success.html

Lots to enjoy in there. Appears that they haven't found a buyer yet. Strange. :rolleyes:

But at least the Telegraph is kindly giving them some free publicity to help them find one.

Cleaver

carolt wrote: »

And here are the Wilson's latest tips for how to succeed in BTL:

http://www.telegraph.co.uk/property/investmentinproperty/6672288/10-tips-for-buy-to-let-success.html

Lots to enjoy in there.

For all of his repulsiveness, the majority of those tips are pretty sensible. With one exception:

1 You are in the business to make money, not to help people

If you're a landlord you're in the business of doing both in my eyes. If you set up a private business providing shelter, healthcare, food or any other type of basic living need then you're in the business of making money and ensuring the safety and general well being of your customers.

In anything other than the rising housing market over the last decade his attitude would have stopped his business growing. It seems that banks willing to lend huge sums of money to these two, which in turn meant they could dominate one market in one area allowed them to have pretty shoddy standards and treat people like dirt yet still make millions.

The landlords out there who thought carefully about the financial side of things and treat their tenants with dignity and respect will, I'm sure, find themselves doing okay in more tricky financial climates.

Pobby

Cheers Carol. I quite enjoyed that. Nice to know that if my Misses clears off and I find myself another lass then I will come up to the top of the Wilsons letting wish list.

Pobby

Got it. They want to sell? no problem. Price drop tv.

Sort out the houses into an estate at a time. Music starts and some old hunny starts up about every one pays the final price. Oppps price drop from £160k to £140k. A but more funky music and we get told that there`s a bit of laminate in each house. Ooopsy, down to £120k. First bid. Don`t forget that what ever the bid is, the last price is what everyone pays.

Getting a bit exciting now as we see the double gla.......Wow! 99k!!!! music goes up a key. Doreen from Stoke has bought one. Tra la la la , only 65 left on this estate. Cor, we`re down to 70k, 7 new bidders in! Oh and they are chucking in a free 84 inch plasma with every.....51k now, don`t forget the last price is what you pay.

Some 10 minutes later they`re all at 439.99p. Makes a smashing Christmas present.

leveller2911

Do they come with FREE Postage and Packing Pobby???....Nicely gift wrapped for Christmas ???

Im sure Ive seen Funguses Tatty old Land Rover on E-bay, its up at £15-00 (over priced as usual)at the moment and only 3hrs and 20 minutes to go...Sadly no bids as of yet.

Pobby

Yep lovely Burberry packaging. Only, though if you don`t live in a flat `cause you are poor!

HAMISH_MCTAVISH

Have they gone under yet?

Haven't people been saying they're going under for ages now?

So when does the collective wisdom of their critics now think they'll be "under"?:rolleyes: