I've given up on HPC (forum)

nollag2006

Good old HPC. They really do believe their own publicity though, I'll give them that.

My favourite link over there is one from Rheinhard, one of the founders telling everyone how clever he was to have Sold to Rent in 2003!!!

http://www.housepricecrash.co.uk/media/LondonTonight-2005-12-12.wmv

I often sit and chuckle at the sheer arrogance of him and the other guy.

The shame is, as the lovely Kirsty points out, that these guys can get away with spouting this drivel for their own selfish motives without any come back.

As for Rheinhard's predictions, well they didnt work out too well, according to that VI, the Land Registry:

[IMG]http://www1.landregistry.gov.uk/Apps2/house-prices/house-price-index-custom-reports/hpi_report.asp?g=1&gt=1&a=London&s=01 January 2003&e=01 February 2012&t=1[/IMG]
Considering he has spent the past 9 years paying his landlord's mortgage other than his own - my heart bleeds for the guy and his HPC ilke

ruggedtoast

Who cares about that silly forum anyway.

homelessskilledworker

HPC always reminds me of North Korea:)

It makes out that it has this rock solid belief, and accuses everyone else of being corrupt and controlling. Yet it censors like no other institution that I know of, and all its posting member are 100% behind the cause, just like any other dictorial cult you get in the world.

They have a few questions to answer yet hide away, they were the people whgo predicted the imminent crash that never happened.

What are they now??

There only use now could be for a site that discusses the possibilty of a crash, they lost credibilty ages ago

ruggedtoast

It is rather like a cult now. Doomsday is always just around the corner and non believers are idiots who will be punished.

It didn't used to be like that, it's a shame what has happened to the site.

DaddyBear

HPC has become a site for über-bears. I'm actually considered a bull over there, indeed I had their most idiotic member, Bruce Banner, asking if I Was an estate agent. It now has a cult-like feel about it.
You don't need to read the threads anymore, they follow a very simple formula. If the index shows a rise it's a manipulated VI index, if the index shows a fall it's 100% fact and time to party.

quantic

I'll never understand why someone would be prepared to expose themselves this much to make some money, there are far safer ways to invest your money. I think betting against the housing market is bad regardless of the outcome.

If you win and everyone else's house prices go down, you brag for the next 10 years about it and everyone thinks you're a moron.

You lose and you are then stuck in rented accommodation for life and nobody can believe you sold your house and everyone thinks you're a moron.

The only safe bet in this game is that the chances are you'll come out looking like a moron.

ruggedtoast

DaddyBear wrote: »

HPC has become a site for über-bears. I'm actually considered a bull over there, indeed I had their most idiotic member, Bruce Banner, asking if I Was an estate agent. It now has a cult-like feel about it.
You don't need to read the threads anymore, they follow a very simple formula. If the index shows a rise it's a manipulated VI index, if the index shows a fall it's 100% fact and time to party.

The last thing I was allowed to post there was a reply to Bruce Banner who was complaining about "deluded sellers" not taking the low offers he was putting on houses. I said that it didn't seem like he could afford the type of house he wanted to buy and maybe should lower his sights.

He didn't like this at all and said he could buy the highest priced house in cash if he wanted to, he just didnt want to, because it was too expensive. In other words he couldn't afford it.

There was then all the flannel about how renting makes you money and leaves you quids in (How? Unless you are paying a peppercorn rent somehow). He doesn't seem to understand that if he spent half his (apparently massive) savings on a house, then lived off the interest on the other half then he would have no mortgage or rent to pay, be living within his means, and be better off.

And that was the last time I was allowed to post. Its a shame because sometimes people genuinely do wander in there asking for help and they end up being trolled by people like that who appear to command a majority opinion; without realising that every poster who doesnt agree with them has just been disappeared.

benb76

It used to be an ok forum. Obviously it always had a bit of a bearish bias due to the nature of the site, but the ability of posters to write contrary opinions kept things lively, and prevented acceptance of extreme viewpoint as matter of fact. These days there is no differing opinion and the whole atmosphere has become very cultish. You could almost imagine them all on a desert island justifying and agreeing their extreme beliefs with each other in a Lord of the Flies type scenario!

homelessskilledworker

ruggedtoast wrote: »

The last thing I was allowed to post there was a reply to Bruce Banner who was complaining about "deluded sellers" not taking the low offers he was putting on houses. I said that it didn't seem like he could afford the type of house he wanted to buy and maybe should lower his sights.

He didn't like this at all and said he could buy the highest priced house in cash if he wanted to, he just didnt want to, because it was too expensive. In other words he couldn't afford it.

There was then all the flannel about how renting makes you money and leaves you quids in (How? Unless you are paying a peppercorn rent somehow). He doesn't seem to understand that if he spent half his (apparently massive) savings on a house, then lived off the interest on the other half then he would have no mortgage or rent to pay, be living within his means, and be better off.

And that was the last time I was allowed to post. Its a shame because sometimes people genuinely do wander in there asking for help and they end up being trolled by people like that who appear to command a majority opinion; without realising that every poster who doesnt agree with them has just been disappeared.

The thing I find the funniest about HPC, and they do this every month now, is at the end of the month when the property indicies are about to release their data many of the uber bears do this reverse psychology thing where they make a big point that "Oh this months figures will be a rise because.........".

It is like they are trying to get in their first just in case there is a rise before anyone takes the p**s:)

townendwig

I haven't given up on the HPC site, as some of the posters on there are extemely knowledgeable on the wider economy. I've learned more about the global financial situation from that site than any other. I would categorise it as more an economics forum to be honest... It just so happens house prices are integral to the economy of the UK.

I seem to have been banned from posting too though, and have no idea why!! Although I did have a short exchange with Bruce Banner recently, maybe he's the guy who's banning everyone?

Bit miffed as I find it a fantastic source of alternative news to the narrow spectrum the mainstream pumps out. good to see whats really going on, to at least be able to make up your own mind.

Every site suffers from groupthink to a certain extent, its human nature, but as long as you can get your information from enough different sources I think its very healthy to encounter as many views as possible.

Take our friend Hamish for instance, labelled an outright troll by the HPC diehards, I don't see it that way at all. He just holds strong views that are the opposite end of the property bears (of which I'm one) but it doesn't mean I disregard what he says, as alot of it is well researched opinion.

Always happy to learn from other points of view, whether I inherantly agree with them or not! Maybe that is a minus point to the HPC forum?