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

Jack_Johnson_the_acorn

Blooloo wrote: »

trumpets are ablowing again on this thread.

For many, there are no sums to work out, they have no choice.

Why cant you guys just accept that you are Genii and the rest of us are just idiots you can suck off.

Of course, you guys are cleverer than me because I had moved up the property ladder, I did take out those mortgages...sadly, and though it is none of your concern, there came a time when those mortgages became unpayable and I had no choice.

saying that, I heard the self same message from the clever about buy buy buy...some of them killed themselves, and I mean people I knew, when the impossible happened to them.

But, As they say, Hubris is a sin and for good reason.

Hi Rinoa...guess post counting is your best shot...

You've advised you have no choice, but if you can afford to pay extra in rent you could afford to save for deposit.... You've chosen to rent, that is your choice.

mystic_trev

wotsthat wrote: »

Have you never done the sums? You've made 50,000+ posts on HPC and you've never worked out the financials?

Like most Cults the HPC gang have to try and justify themselves, usually with lies, that they believe themselves! Like Gambling addicts they can't admit to losses. The 'fizz' in House prices may have stopped, but they won't be crashing anytime soon.

Rinoa

Blooloo wrote: »

Hi Rinoa...guess post counting is your best shot...

It'll do for now.

So, why are you here? Did you just think one day "I wonder what it's like debating on a forum where people have differing opinions?"

Blooloo

mystic_trev wrote: »

Like most Cults the HPC gang have to try and justify themselves, usually with lies, that they believe themselves! Like Gambling addicts they can't admit to losses. The 'fizz' in House prices may have stopped, but they won't be crashing anytime soon.

maybe this guy could have paid better heed.

http://www.thisismoney.co.uk/money/mortgageshome/article-1649054/The-collapse-of-a-buy-to-let-empire.html

The interweb is full of genii turned bankrupts stories.. maybe HPC could start a west end show with hit songs suitable like CRASH, ooo ooo, the king of the Universe, (Queen).

Blooloo

Rinoa wrote: »

It'll do for now.

So, why are you here? Did you just think one day "I wonder what it's like debating on a forum where people have differing opinions?"

not really seeing much on opinions here...just trumpet blowing.

One or two have taken on board what I mean to discuss whats what, that I have no crystal ball.

But over-leverage from the "thoughts" of some of the posters is a real risk with this it cant fail attitude.

Me, I see many people as not having the choice posters here are banging on about. And thats bad...or is it?

chucknorris

Blooloo wrote: »

maybe this guy could have paid better heed.

http://www.thisismoney.co.uk/money/mortgageshome/article-1649054/The-collapse-of-a-buy-to-let-empire.html

The interweb is full of genii turned bankrupts stories.. maybe HPC could start a west end show with hit songs suitable like CRASH, ooo ooo, the king of the Universe, (Queen).

He over extended himself, it's as simple as that, he probably would have failed at whatever business he started.

ukcarper

Blooloo wrote: »

trumpets are ablowing again on this thread.

For many, there are no sums to work out, they have no choice.

Why cant you guys just accept that you are Genii and the rest of us are just idiots you can suck off.

Of course, you guys are cleverer than me because I had moved up the property ladder, I did take out those mortgages...sadly, and though it is none of your concern, there came a time when those mortgages became unpayable and I had no choice.

saying that, I heard the self same message from the clever about buy buy buy...some of them killed themselves, and I mean people I knew, when the impossible happened to them.

But, As they say, Hubris is a sin and for good reason.

Hi Rinoa...guess post counting is your best shot...

Feel better now.

I have every sympathy for those who genuinely can't afford to buy and think it would have been better if prices hadn't increased so much. But that doesn't alter the fact that if you can afford to buy it will benefit you in the long term.

wotsthat

Blooloo wrote: »

trumpets are ablowing again on this thread.

For many, there are no sums to work out, they have no choice.

Why cant you guys just accept that you are Genii and the rest of us are just idiots you can suck off.

Of course, you guys are cleverer than me because I had moved up the property ladder, I did take out those mortgages...sadly, and though it is none of your concern, there came a time when those mortgages became unpayable and I had no choice.

saying that, I heard the self same message from the clever about buy buy buy...some of them killed themselves, and I mean people I knew, when the impossible happened to them.

But, As they say, Hubris is a sin and for good reason.

That sounds a terrible - I can see why you've been put off.

You did mention how pleased you were to be paying only £200/ month more than someone in a new build so you shouldn't be overly surprised if those figures are interrogated. You'd have been better off saying the sums were irrelevant to you because you have no choice but to rent and you think home owners are at greater risk of suicide.

Is your advice to rent irrespective of the sums to guarantee there will never be a mortgage that can't be paid?

Blooloo

wotsthat wrote: »

That sounds a terrible - I can see why you've been put off.

You did mention how pleased you were to be paying only £200/ month more than someone in a new build so you shouldn't be overly surprised if those figures are interrogated. You'd have been better off saying the sums were irrelevant to you because you have no choice but to rent and you think home owners are at greater risk of suicide.

Is your advice to rent irrespective of the sums to guarantee there will never be a mortgage that can't be paid?

i havent advised anyone to rent or to buy.

I have said the equation isnt right or wrong whichever way you decide except with 2020 hindsight.

I agree there is a shortage, but it is not the shortage proposed here.

A shortage of housing?>..how many re sold every month these days, shall we say 60,000?>..Find your dream property right here, right now. Rightmove has over 800,000 properties for sale throughout the UK< from the rightmove website today...I reckon thats 13 months stock.

The shortage, as I see it is in people wanting to buy but unable to finance the mortgage to support todays prices.

Shoot me for suggesting McT is wrong. Shoot me for suggesting the Government also knows this and has done 110% to keep the monthlies low. Shoot me if I beleive this wont go on forever.

And when they stop...which they have to...where does that leave the leveraged investors?

I never wanted any of this distortion to happen, as at the end of the day, a failed BTL is an evicted tenant, just as an overstretched borrower is ultimately the same.

just saying.

wotsthat

Blooloo wrote: »

The interweb is full of genii turned bankrupts stories.. maybe HPC could start a west end show with hit songs suitable like CRASH, ooo ooo, the king of the Universe, (Queen).

That's the trouble with the Internet - it's an imperfect tool for separating exceptions from rules. Put in the right search terms and it'll tell you whatever you want to hear.