Is it just the greedy left praying for a crash?

torontoboy45

chucky wrote: »

you best ask him - he's big enough and ugly enough to know what he needs to do...

you best ask someone who ramps HPI.

a HPCer is someone who celebrates price falls by saying that they've made £3,000 when there's a monthly announcement from one of the indexes.

i don't see any HPI rampers doing the reverse of that on here - do you?

i have no idea what you're talking about here - which HPI cheerleaders where these?


right here - looking out for myself and making my future and my famliies future as secure as i can.
do you do things differently then?

you seem to also seem to be the type thinks that those people that don't see 50% price drops as HPI cheerleaders or 'bulls'...

don't be so coy, chucky; you were politely advising graham to **** off if he didn't like it. very adult.

as for the HPI mob: they're not so coarse as to crow about £3k gains but they gloat. oh how they gloat. you know they do. let's not pretend. they never ceased to regale me with tales of un-earned wealth increase right up until late 07, but they always talked in terms of %age increase. what a pleasure it was to watch the rampers under pressure ( and this comes from someone who has been mortgage-free for yrs). through last yr some optimism returned but no sign of the euphoria, just self-delusionary ramping.


of course I see things differently - that much should be obvious.
50% falls? are you kidding? call it 25% from now and then I'll be happy doing roughly what you're doing and helping my FTB wannabee daughter to secure her future.

Loopgames

Blacklight wrote: »

These are first time buyers or people looking to use price falls for large gains. That's my point.

You mean buy low sell high..that's not greed that's good business sense.

new_home_owner_3

the_flying_pig wrote: »

i'm sure this has been pointed on here a thousand times or more but:

(1) mortgage interest payments are 'money down the drain' just as surely as rent; and
(2) cash [as opposed to debt] spent on pwoperdee has to be taken out of interest-bearing accounts.

so holding a 100% debt financed house for a year will cost you about 5% times [in your example] £160k in interest, i.e. almost exactly the same [£8k] as your hypothetical

a 100% cash bought house will cost you the interest you would have been getting on the £160k in a savings account, call it, for the sake of the argument, 2% after tax, so £3200 a year.

so, very crudely, a 50% debt, 50% cash house will cost you the average of £8k and £3.2k i.e. £5600 in interest costs on your debt & foregone interest on your deposit. an 80% debt, 20% cash house will cost you £7040 per year, etc.

and, of course, many would-be FTBs currently pay a lot less than eight grand a year on rent because they're in a cheap house share, livign with parents, or whatever.

i agree it as been said a thousand times and your theory is great on paper if houses do fall for the next 12 months, but people have been sayng that for the last 12 months and house prices have increased nationally 10%, we might have had small fall in the last 3-4 months, but even together these would take 1 percent of the last 12 months of 10 percent increase.

so even if houses fell 0.6 %each month it will still take nearly 18 months to get back to prices at the begining of 2009.

Its all about timing and if your willing to take the risk and hope a crash comes.

But if we had another 10 percent increase like we have had the last 12 months you could end up paying out 12 months rent, and then add insult to injury you could be paying a extra 10 percent on the extra 10 percent from the increases from the last 12 months.

its all about timing, get it wrong you could be in negative equity, likewise you could also get it wrong and be paying a extra 24 months rent and a higher price for a house as prices have increased.

the_flying_pig

new_home_owner wrote: »

i agree it as been said a thousand times and your theory is great on paper if houses do fall for the next 12 months, but people have been sayng that for the last 12 months and house prices have increased nationally 10%, we might have had small fall in the last 3-4 months, but even together these would take 1 percent of the last 12 months of 10 percent increase.

so even if houses fell 0.6 %each month it will still take nearly 18 months to get back to prices at the begining of 2009.

Its all about timing and if your willing to take the risk and hope a crash comes.

But if we had another 10 percent increase like we have had the last 12 months you could end up paying out 12 months rent, and then add insult to injury you could be paying a extra 10 percent on the extra 10 percent from the increases from the last 12 months.

its all about timing, get it wrong you could be in negative equity, likewise you could also get it wrong and be paying a extra 24 months rent and a higher price for a house as prices have increased.

Er, OK.

I'll interpret that as meaning something like 'OK, I admit that my rent saved calculations were meaningless. What I really meant is that I don't think anything other than relatively small falls are likely'.

brit1234

Blacklight wrote: »

These are first time buyers or people looking to use price falls for large gains. That's my point.

What are you on?

I just want to be able to afford my first property. I also want my younger brothers to afford to buy a place and even children when I have them.

How is that greedy?

Sorry people who just want to get a home and have a family are not greedy.

However these are at the expense of ftb:

Conrad

I love the HPC die hards that 'won't pay current prices' but as I've always said, you bet your last dime when it comes to thier turn to sell they will 'not be giving it away for sure'.

I meet this mindset in my work. One knob last year refused to give a penny of his yet bragged loudly to me how he refused to pay the money the developer wanted on the one he bought.
Honestly such people are little short of lunatics - and he had said how his kids never talked to him - no !!!!!! sherlock.

Such people are self obsessed and narrow minded in the extreme, and will cause a house sale to collapse over an argument about the fridge staying. Yuk

new_home_owner_3

the_flying_pig wrote: »

Er, OK.

I'll interpret that as meaning something like 'OK, I admit that my rent saved calculations were meaningless. What I really meant is that I don't think anything other than relatively small falls are likely'.

and small falls wont mean anything if interest rates go up

new_home_owner_3

brit1234 wrote: »

What are you on?

I just want to be able to afford my first property. I also want my younger brothers to afford to buy a place and even children when I have them.

How is that greedy?

Sorry people who just want to get a home and have a family are not greedy.

Yes but what you want would pile misery on people who have had the bottle to get out there and buy, do you think its fair on them?

Its not being greedy its you just thinking of yourself, which is very selfish.

I want all my family to be able to afford houses, but i wouldnt come on here stating house prices are going to crash between 2007- 2022.

you are sounding desperate a lot of bears who i wont name have made the jump and bought this year, they might say they have had 30 or 40 percent of asking price but in reality they have just paid what the houses where worth.



I feel you are waiting for the property prices to come down to the price your are happy paying.

when really you should have a amount you are happy spending and you should look for properties in that price bracket, surely there is something you can afford?


if you cant afford to buy then rent, its a easy solution.

the_flying_pig

brit1234 wrote: »

...

nice pics, i liked them a lot. rewired will probably like them even more.

nearlynew

new_home_owner wrote: »

Yes but what you want would pile misery on people who have had the bottle to get out there and buy, do you think its fair on them?

Bottle?

I thought it was cheap and easy credit that did enabled them.