1st time buying a flat - and so so sorry for this!!!

Loopgames

missile wrote: »

Seems OP has changed his spots, see here > https://forums.moneysavingexpert.com/discussion/3346510

I don't see how this is relevant to this discussion? What was your reason for pulling up a post said a while back ago?

Loopgames

Emmzi wrote: »

you are not $40k down. you are only up or down when you realise the investment. So you have to sit tight and ride it out as with any investment.

Exactly - this is something that needs to be stressed and thought through carefully. Many investors make the mistake of being emotional investors rather than rational and lose a lot of money in the process.

lowlitmemory

Emmzi wrote: »

you are not $40k down. you are only up or down when you realise the investment. So you have to sit tight and ride it out as with any investment.

Yes, this was what I was trying to say.

OP yes you are wrong for worrying because you are tracking value on paper, not actual value.

The flat is only ever worth what someone will pay for it anyway, so it could be that you complete your purchase and sell it a month later and someone gives you £100k more than what you paid for it. Or you might only be able to get £100k less than what you paid. Either way obliterates any loss or gain from the exchange rate in US dollars.

YOU DON'T KNOW UNTIL IT IS SOLD OFF AGAIN. I'm not sure how to make that any clearer.

jumperabv3

Loopgames wrote: »

Governments will NOT want a crash and will do anything to stop it...that seems so certain to me. Even if we experience the turbulence it will be VERY short term and then properties will be stable as inflation kicks in.

The governments don't rule the world, Goldman Sachs rules the world, and they do not care about the Euro:

http://www.youtube.com/watch?v=aC19fEqR5bA

I agree with this video as I watched it 1000 of times and I believe what he said. He said within 12 months and we're exactly in this period of time and the savings of millions of people are going to vanish too.

ILW

jumperabv3 wrote: »

The governments don't rule the world, Goldman Sachs rules the world, and they do not care about the Euro:

http://www.youtube.com/watch?v=aC19fEqR5bA

I agree with this video as I watched it 1000 of times and I believe what he said. He said within 12 months and we're exactly in this period of time and the savings of millions of people are going to vanish too.

Still cannot understand why you chose to invest in UK rather than US property.

jumperabv3

lowlitmemory wrote: »

YOU DON'T KNOW UNTIL IT IS SOLD OFF AGAIN. I'm not sure how to make that any clearer.

I'm still trying to let the coin flip but the fact you and my friend explain the same thing to me is already helping me to understand it a bit, I'm still trying to swallow the pill if you know what I mean, but thanks for this feedback.

jumperabv3

ILW wrote: »

Still cannot understand why you chose to invest in UK rather than US property.

Too late to say it now ... I've been in the UK, I was impressed with London (and still am) - but I just couldn't forsee these drops coming - what can I do now anyway? Take $560,000 back by trying to cancel the deal and buy in NY now?
I don't know if that's a smart move, I think I have to stick to the plan at least until completion - and from completion we'll see where things stand, I just don't know otherwise what else is my choice as I have no other choice really ...

googler

ILW wrote: »

Still cannot understand why you chose to invest in UK rather than US property.

...and cannot fathom why you chose to invest all of your savings in UK rather than US property.

Conventional wisdom dictates that an investment with some degree of risk should only be made with a small slice of your capital, not all of it....

Again, are there no opportunities for you to invest closer to home?

jumperabv3

googler wrote: »

...and cannot fathom why you chose to invest all of your savings in UK rather than US property.

Conventional wisdom dictates that an investment with some degree of risk should only be made with a small slice of your capital, not all of it....

Again, are there no opportunities for you to invest closer to home?

There are opportunities but I've already made my choice - you wanna say I made a bad choice? That's good - how do I move on with it now?

Idiophreak

googler wrote: »

...and cannot fathom why you chose to invest all of your savings in UK rather than US property.

Conventional wisdom dictates that an investment with some degree of risk should only be made with a small slice of your capital, not all of it....

Again, are there no opportunities for you to invest closer to home?

I think people should try and drop this, angle, really.

Doesn't really matter why the OP decided to invest in this country - and it's his business really. If I saw a potential for growth overseas I might be tempted - and wouldn't expect everyone to sit around and go "couldn't you have bought in the UK?"...sounds like OP took a bit of a punt. I agree that investing all your savings in a "punt" is a bit dumb, but OP wanted to risk it - and right now he's paying the cost of this risk.

I really think the OPs masochism and passion for working out meaningless numbers is more the issue here.