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Debate House Prices
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House market final props could soon collapse
Comments
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RenovationMan wrote: »Yes, its a terrible thing to brag about being mortgage free when so many are struggling even to get a mortgage. You're so sweet and nice to be so concerned...
Oh, but hold on, what is this...
Not quite so sweet and nice after all! Not only a brag about being mortgage free, but a statement that you're going to enjoy seeing people fret when rates go up. What a prince amongst men you are, DervProf.
I would take some pleasure from seeing those who overstretched themselves financially (expecting rates to never rise), seeing the error of their ways. I see the banks who extended credit too far, and those who took large amounts of that credit to be the cause of the mess we are in today. I see those who borrowed heavily to validate ever rising property prices to be the ones who have left the next generation of house buyers with a rather daunting task.
Anyway, nice to see that I`ve got you digging back to previous posts in an attempt to discredit me. I wonder if any of your previous posts might do the same for you ?
30 Year Challenge : To be 30 years older. Equity : Don't know, don't care much. Savings : That's asking for ridicule.0 -
I would take some pleasure from seeing those who overstretched themselves financially (expecting rates to never rise), seeing the error of their ways. I see the banks who extended credit too far, and those who took large amounts of that credit to be the cause of the mess we are in today. I see those who borrowed heavily to validate ever rising property prices to be the ones who have left the next generation of house buyers with a rather daunting task.
Anyway, nice to see that I`ve got you digging back to previous posts in an attempt to discredit me. I wonder if any of your previous posts might do the same for you ?
So your saying its not okay to brag about paying off a mortgage, but its fine to laugh at people who can't?
What a numpty you really are!0 -
So your saying its not okay to brag about paying off a mortgage, but its fine to laugh at people who can't?
What a numpty you really are!
Did I mention that I'd laugh at people who can't pay off a mortgage ?
Stop making things up.30 Year Challenge : To be 30 years older. Equity : Don't know, don't care much. Savings : That's asking for ridicule.0 -
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RenovationMan wrote: »No, to be fair you didn't say you'd 'laugh' you said you would 'take pleasure'. I'm not sure which is worse to be honest.
During "the boom", I could see there was trouble brewing. I met a fair few "bullish" people who really were arrogant enough to believe that things couldn't possibly go wrong, and that house prices would not fall, and that easy credit wouldn't come to an end. It is people like these who I would like to see struggle a little. I think it is a bad thing if everyone who makes poor financial decisions "gets away with it". It doesn't teach a valuable lesson that there is no such thing as a free lunch, and it simply creates an ever more dangerous situation where more people are likely to take on bigger financial risks.
Now you can say that is being mean or spiteful. I'd say that it's looking at the bigger picture.30 Year Challenge : To be 30 years older. Equity : Don't know, don't care much. Savings : That's asking for ridicule.0 -
During "the boom", I could see there was trouble brewing. I met a fair few "bullish" people who really were arrogant enough to believe that things couldn't possibly go wrong, and that house prices would not fall, and that easy credit wouldn't come to an end. It is people like these who I would like to see struggle a little. I think it is a bad thing if everyone who makes poor financial decisions "gets away with it". It doesn't teach a valuable lesson that there is no such thing as a free lunch, and it simply creates an ever more dangerous situation where more people are likely to take on bigger financial risks.
Now you can say that is being mean or spiteful. I'd say that it's looking at the bigger picture.
Well each to their own. I prefer to concentrate on my own finances and look upwards rather than sitting back and looking down on those beneath me. I certainly wouldn't take any pleasure in other people's misfortunes, but then everyone is different.0 -
RenovationMan wrote: »Well each to their own. I prefer to concentrate on my own finances and look upwards rather than sitting back and looking down on those beneath me. I certainly wouldn't take any pleasure in other people's misfortunes, but then everyone is different.
Well, you certainly can't accuse me of "looking down on those beneath me". I have genuine sympathy for those who are now faced with having to take on a large mortgage to buy a place of their own, to those who struggle to earn a decent wage and to those who are finding it difficult to pay the gas and electricity bills (especially pensioners who have been prudent enough to save for their old age, and have seen a few years of poor returns on their savings).
As far as other people's misfortunes are concerned, there's misfortune, and there's self inflicted problems. I wouldn't like to see a postman with a modest mortgage lose his job due to ill health, and then fall into financial trouble. On the other hand I can't honestly say that I'd shed a tear if someone who bought 5 BTL properties on the back of "creative" borrowing were to fall on their own sword.30 Year Challenge : To be 30 years older. Equity : Don't know, don't care much. Savings : That's asking for ridicule.0 -
JonnyBravo wrote: »I hope it's sorted a couple of problems from the beta version.
1) Does this one finally have the Quantitative Easing patch? It's just unplayable without it.
2) Is silver guaranteed to go up? It should be worth 10% of gold but it never seems to get there?
I believe this one does have the QE patch.
Theres also an added extra. This one has the bankster patch. The higher your debts, the lower your repayments. Infact, you can borrow money, and lend that money straight back to the banks for a margin. It's part of the portfolio games. Brilliant. The more you borrow, the more you lend back to the people you borrwed from, the more money you make, and then they lend you some back again and you lend that to someone else. Maybe your child if they are playing the game. Your child obviously goes bust. But that's all part of growing up.
Theres also a cheat. It's called "fruitloop", derived from the older fruity machines on previous games. The cheat provides a never ending loop of bailout money with the conditions attached that you might pay it back. That is if you feel like it.
Not sure what the mild themes are. I'm assuming there are some insults for those lesser than yourself.0 -
Well, you certainly can't accuse me of "looking down on those beneath me". I have genuine sympathy for those who are now faced with having to take on a large mortgage to buy a place of their own, to those who struggle to earn a decent wage and to those who are finding it difficult to pay the gas and electricity bills (especially pensioners who have been prudent enough to save for their old age, and have seen a few years of poor returns on their savings).
As far as other people's misfortunes are concerned, there's misfortune, and there's self inflicted problems. I wouldn't like to see a postman with a modest mortgage lose his job due to ill health, and then fall into financial trouble. On the other hand I can't honestly say that I'd shed a tear if someone who bought 5 BTL properties on the back of "creative" borrowing were to fall on their own sword.
Balls. You've just said that you would take pleasure if those who take on large mortgages struggle with higher interest rates. Just who do you think these people are? Millionaires? No, they are FTBers and families who have to get a large mortgage in order to get onto the housing ladder. They didn't have the option to buy cheap housing in 1995 (or whenever it was that you're now saying you bought). Predominantly, these are the people who will be overstretched when rates rise.0 -
RenovationMan wrote: »Well each to their own. I prefer to concentrate on my own finances and look upwards rather than sitting back and looking down on those beneath me.
Could have fooled me.
Must have all been a dream!! I must sort my dreams out. I could have sworn you have been demanding financial figures from fellow posters, including evidence of said financial figures, including bank statements.
My bad. My dreams are just terrible.0
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