House market final props could soon collapse

DervProf

RenovationMan wrote: »

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.

Again, you are spinning what I said into something else.

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 isn't the FTBers or families who had no choice but to take on large mortgages that I would have no sympathy for. It's the arrogant speculators and those that purposely overstretched themselves (in a bid to cash in on the property boom) that I wouldn't care much for if their wealth making plans went belly up. It is those speculators that the FTBs and families are competing against.

RenovationMan

DervProf wrote: »

Again, you are spinning what I said into something else.

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 isn't the FTBers or families who had no choice but to take on large mortgages that I would have no sympathy for. It's the arrogant speculators and those that purposely overstretched themselves (in a bid to cash in on the property boom) that I wouldn't care much for if their wealth making plans went belly up. It is those speculators that the FTBs and families are competing against.

Nope, you didn't qualify it with all the above that you have now decided to add. You simply said:

DervProf wrote: »

Oh the joy of not having to be bothered about interest rates.

It's nice to sit back and watch others fret about the possibility of a base rate rise. Surely Uncle Merv & Co. will continue to nurse the debt junkies, won't they ?

And then followed it up with:

DervProf wrote: »

I would take some pleasure from seeing those who overstretched themselves financially (expecting rates to never rise), seeing the error of their ways.

No mention of your newly found concern for FTBers and families, who have been forced to take on large mortgages and perhaps overstretch themselves due to HPI that they had no hand in and no control over. You seem to be backtracking rather quickly from this position.

RenovationMan

Graham_Devon wrote: »

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.

You must have been dreaming graham. What actually happened was that I expressed doubts about whether someone really bought a house at the bottom of the market and kept it secret as some sort of 'gag'. The fellow poster (not posters as you so adroitly tried to make out) insisted on supplying proof such as avatar pictures and vague historical posts that left me still unconvinced. The poster in question then posted details about his bank statement with the salient points blanked out. I merely pointed out that if he wanted to convince people then it probably wasn't a good thing to blank out the very parts of the statement that contained the proof.

He then went onto post more statements with the same bits blanked out. All I requested was that he tried posting them without them being doctored and then they might be more believable.

Still, you know all this of course, and you're just looking for some attention and a bit of a barny cos you have felt sidelined and left out since geneer joined the site and took your crown as chief arguer and thread wrecker. :rotfl:

DervProf

RenovationMan wrote: »

No mention of your newly found concern for FTBers and families, who have been forced to take on large mortgages and perhaps overstretch themselves due to HPI that they had no hand in and no control over. You seem to be backtracking rather quickly from this position.

You sound like Gordon Brown, although try adding "hard working" before the catchphrase.

Anyway, I have never said that I want financially prudent FTBs or families to worry about interest rates. Chancers, spivs and greedy so-and-so's, that's a different matter.

I`ve consistently said, or implied, that i would like to see lower house prices to enable "FTBs and families" to buy a place of their own without too much financial risk or expense. I think it'll be only you who would try to prove that I haven't. It's my honest belief and desire that this would be a good thing. The often used counter argument is that if house prices were to fall, existing owners would be in trouble. Yes, some would be "in trouble" on paper, and less would be in real trouble. That's a price worth paying if it means lower borrowing requirements and less risk taking. OK, it's not going to happen overnight, as it would mean a big increase in house building, but I would like to see it happen. Terrible thoughts, I know.

JonnyBravo

Graham_Devon wrote: »

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.

:rotfl:

It's real game!

:rotfl:

I'd assumed it was a rather funny post by yourself but now it turns out the world really is mad!
I'm now actually a bit disappointed.... both in the fact you hadnt thought of it and the fact someone is going to buy it.

Graham_Devon

JonnyBravo wrote: »

:rotfl:

It's real game!

:rotfl:

I'd assumed it was a rather funny post by yourself but now it turns out the world really is mad!
I'm now actually a bit disappointed.... both in the fact you hadnt thought of it and the fact someone is going to buy it.

LOL, I saw it advertised this morning. Though "Hamish" instantly!

Wait till you see the advert and the blokes (and kid who's gonna retire on property wealth at 14) on the golf course

The advert comes across as "the boom - the videogame - you too can make millions by buying property".

Heyman_2

Graham_Devon wrote: »

LOL, I saw it advertised this morning. Though "Hamish" instantly!

Wait till you see the advert and the blokes (and kid who's gonna retire on property wealth at 14) on the golf course

The advert comes across as "the boom - the videogame - you too can make millions by buying property".

And there was me thinking you were giving geneer a run for his money in the artwork stakes

Fooled here too, thought you were making it up. Dear god! :rotfl:

RenovationMan

DervProf wrote: »

You sound like Gordon Brown, although try adding "hard working" before the catchphrase.

Anyway, I have never said that I want financially prudent FTBs or families to worry about interest rates. Chancers, spivs and greedy so-and-so's, that's a different matter.

I`ve consistently said, or implied, that i would like to see lower house prices to enable "FTBs and families" to buy a place of their own without too much financial risk or expense. I think it'll be only you who would try to prove that I haven't. It's my honest belief and desire that this would be a good thing. The often used counter argument is that if house prices were to fall, existing owners would be in trouble. Yes, some would be "in trouble" on paper, and less would be in real trouble. That's a price worth paying if it means lower borrowing requirements and less risk taking. OK, it's not going to happen overnight, as it would mean a big increase in house building, but I would like to see it happen. Terrible thoughts, I know.

You're just dodging about now. You've onviously been taking lessons from geneer. You've completely ignored the point I made by throwing your own words back at you and you've quickly tried to deflect by introducing a completely new argument, with a "Terrible thoughts I know" thrown into the mix for good measure to imply that I thought high house prices was a good thing.

Nice try but a little unsophisticated, if I might make so bold. :cool:

DervProf

RenovationMan wrote: »

You're just dodging about now. You've onviously been taking lessons from geneer. You've completely ignored the point I made by throwing your own words back at you and you've quickly tried to deflect by introducing a completely new argument, with a "Terrible thoughts I know" thrown into the mix for good measure to imply that I thought high house prices was a good thing.

Considering you think my reply was "a little unsophisticated", you have obviously not understood it.

The "Terrible thoughts I know" statement was to pre-empt the usual response of "how dare you wish lower house prices on hard working families". I wasn't intending to imply that you think high house prices are a good thing, that's you making things up again.

I also think it's a good idea for a potential first time buyer to save a deposit, something that you recently pulled me up on. I did ask what your advice would be, but didn't get a reply. So how about you trying not to deflect, and answering this point ?

RenovationMan

DervProf wrote: »

Considering you think my reply was "a little unsophisticated", you have obviously not understood it.

The "Terrible thoughts I know" statement was to pre-empt the usual response of "how dare you wish lower house prices on hard working families". I wasn't intending to imply that you think high house prices are a good thing, that's you making things up again.

I also think it's a good idea for a potential first time buyer to save a deposit, something that you recently pulled me up on. I did ask what your advice would be, but didn't get a reply. So how about you trying not to deflect, and answering this point ?

Anyway, back to the point...

As you seem to be distancing yourself from your statement "It's nice to sit back and watch others fret about the possibility of a base rate rise" and trying an unsubtle attempt to steer us onto a different subject, are we to understand that you now retract this statement and admit that it was ill conceived?