Come on bulls admit it.......

macaque_2

..... If you had known in 2006 what was coming, surely you would have quit the property market? Property today is a tricky business and a lot people are nursing big losses (quite apart from the hassle and risk). The problem is that the closer you are to the peak, the harder it is to make a profit. This is no easy way down either. Most would be buyers are hanging on to their cash for now.

wotsthat

Glad I didn't sell up in 2006 - it would have been both inconvenient and unprofitable.

MrRee_2

Prices in my street are at/above 2006 levels right now anyway ..... I would have achieved nothing except to buy someone else's house for them for 5 years.

Remember I was debt free prior to 2006 .... it was costing me nothing - to rent would have been BONKERS!

macaque_2

wotsthat wrote: »

Glad I didn't sell up in 2006 - it would have been both inconvenient and unprofitable.

This dates back to 2008

Around 200,000 buy-to-let investors have lost up to 90% of the cash they put into their properties, research shows today.
http://www.thisismoney.co.uk/money/mortgageshome/article-1638558/200000-lose-out-in-buy-to-let-crisis.html#ixzz1e0BVzXjp

Today house prices are quietly sliding by the month. You can fool some of the people all the time and all the people some of the time but there is a reason why house sales are at historically low levels.

HAMISH_MCTAVISH

macaque wrote: »

Today house prices are quietly sliding by the month.

Yep. Sliding upwards. :rotfl:

Nationwide positive year on year, and Halifax heading that way quickly.

:beer:

Jack_Johnson_the_acorn

Am I a Bull or a Bear? I'm currently in the process of purchasing a property?:j

HAMISH_MCTAVISH

Jack_Johnson_the_acorn wrote: »

Am I a Bull or a Bear? I'm currently in the process of purchasing a property?:j

That just makes you sensible.

heathcote123

Almost 100% of renters have lost 100% of the cash they have put into their properties. BTL'ers have got some catching up to do.

reweird

Why would I want to sell up be beautiful home just to pay someone else's mortgage for them?

IveSeenTheLight

macaque wrote: »

..... If you had known in 2006 what was coming, surely you would have quit the property market? Property today is a tricky business and a lot people are nursing big losses (quite apart from the hassle and risk). The problem is that the closer you are to the peak, the harder it is to make a profit. This is no easy way down either. Most would be buyers are hanging on to their cash for now.

On the contrary.
I bought in Jan 2007 and am in the process of completing in Dec 2011.
The Jan 2007 property has provided a decent return and has just been valued higher than the valuation and purchase price when bout in 2007. There's only been 16 days void in the past 5 years

The 2011 property has been secured as such that the RY is 6.49% and the return on my investment (deposit) after the mortgage interest has been deducted is 12.05%

I also have a property I bought in 2004 and converted to BTL in 2007. There have been 0 days void in the past 5 years (same tenants)

Financially, buying property has been a good investment for me, even since 2007.

julieq

I gather the straw clutching market is going great guns Macaque :P