'We've reached a tipping point' Signs of house price weakness

chucknorris

mystic_trev wrote: »

Yes, I know and made a comment asking where the 'Magical Land' was and got promptly banned! :rotfl:

The fact that he (at least probably influenced) you being banned IMO provides evidence that he actually knows that he is being a Walter Mitty, otherwise he would have provided supporting information to back up his absurd claims.


I wonder if any of our current HPC guests would care to defend him? If so, feel free to input guys.

chucknorris

mystic_trev wrote: »

Well not really. When I bought my last house in December 2009, I vividly remember your comments of 'I think you've bought a little too soon' That Properties now worth 40% more Unfortunately your opinion values are fairly low

Well done, it certainly looks like you bought at the right time.

Rota

chucknorris wrote: »

I reckon some of them are very happy loons over there though, isn't there a guy over there named Bruce Spanner who lives in a magical place in the South East (although exact location is secret)where both rents and capital values drop even when most other places are rising. Then there is another guy who works as a IFA but STR in 2004 (I presume that he doesn't divulge this to his clients).

Last week Bruce said he had predicted a 40% drop by now. He STR'ed in 2010 (maybe 2011). Not only is he wrong, but the trade has gone against him another 20% so he was 60% wrong. :rotfl:

Couldn't happen to a nicer guy.

Blooloo

chucknorris wrote: »

I might be mistaken but I think that he has already downsized, from renting an entire flat to moving into an HMO (which also of course proves your point).

what point was he making?..that selling an asset and buying a cheaper one leaves some spare cash?

wow.

Im glad I signed up for that astounding knowledge..obviously a secret of his trade.

Rota

Blooloo wrote: »

what point was he making?..that selling an asset and buying a cheaper one leaves some spare cash?

wow.

Im glad I signed up for that astounding knowledge..obviously a secret of his trade.

You'd be learning more than on HPC, nothing surer than that. That Foxtons thread is nothing short of comedy gold. The comments tick like Bloomberg with posters wondering why house prices aren't dropping when the share price moves a few pence? To think they are correlated and move lock step together is ridiculous.

The "London's population to increase by 37%" is genuis too. Population up 37%..... but that will have absolutely no effect on house prices. :rotfl: :rotfl: What sort of logic is that?

Rota

chucknorris wrote: »

The fact that he (at least probably influenced) you being banned IMO provides evidence that he actually knows that he is being a Walter Mitty, otherwise he would have provided supporting information to back up his absurd claims.


I wonder if any of our current HPC guests would care to defend him? If so, feel free to input guys.

Id love him to sign up. :money:

wotsthat

Blooloo wrote: »

what point was he making?..that selling an asset and buying a cheaper one leaves some spare cash?

The point you're carefully avoiding is that renting doesn't give one the opportunity to downsize and release cash. Yes the rent might reduce but that just means compounding is working against you slightly more slowly.

You clearly didn't understand the tax implications so I won't mention them again.

Blooloo

mystic_trev wrote: »

Well not really. When I bought my last house in December 2009, I vividly remember your comments of 'I think you've bought a little too soon' That Properties now worth 40% more Unfortunately your opinion values are fairly low

I dont recall condemning anyone for buying a house, so maybe you can recall the thread I gave such an opinion with a link to it please.otherwise I will just have to accept you are mistaken...not that I am in the least bit interested in your own anecdote as any evidence that my position, that there is no right or wrong, is wrong.


Anyway, is there anyone here who would like to discuss the thread topic, or would you all like to reflect on why another website banned you, or do you all just want to gloat about capital gains you say you have had...stuff better suited to sales leaflets.

Blooloo

wotsthat wrote: »

The point you're carefully avoiding is that renting doesn't give one the opportunity to downsize and release cash. Yes the rent might reduce but that just means compounding is working against you slightly more slowly.

You clearly didn't understand the tax implications so I won't mention them again.

I might own a BTL whilst renting.

What is your point about my unknown circumstance?

Tax implications of taking divis rather than salary?>..never heard about it before...and if I read the posters position properly, the tax situation is nothing to do with buying..its to do with selling an asset and using the saved money to keep his drawings below the tax threshold.

But then again, the poster might be lying...so again, giving advice is not my choice...I can point out other alternatives if so asked and If I have the inclination.

You remind me of an HPC poster called Valerius.

Jason74

Rota wrote: »

Last week Bruce said he had predicted a 40% drop by now. He STR'ed in 2010 (maybe 2011). Not only is he wrong, but the trade has gone against him another 20% so he was 60% wrong. :rotfl:

Couldn't happen to a nicer guy.

I have to say, the one thing I've never got is why anyone would STR. If you just want a nice home, and have worked hard to get to the point where you have one, why on earth would you risk losing that foothold. Leaving aside the obvious financial risks, why would anyone put themselves through the stress of moving at least twice, and losing the sense of permenance that goes with a secure home. I just don't get it, but then I'm the kind of simpleton who really does see my property overwhelmingly as somewhere nice to live, so I'm obviously missing something