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

robmatic

Crashy_Time wrote: »

The biggest giveaway about this market for me is the speed at which posters materialise to shoot down Pro - Crash views. In some cases they would have us believe that their life is full of hobbies and gardening and walking dogs etc. while they are TOTALLY comfortable with the borrowing decisions they have made in the greatest Ponzi scheme of all time. Pull the other one guys, HPI reversal is the worst nightmare of many posting on here, and their financial futures are very heavily dependent on the property market making "gains" in the future.

Nope. You're projecting your fear of financial commitment onto others.

wotsthat

Crashy_Time wrote: »

http://www.housepricecrash.co.uk/forum/index.php?/topic/200388-why-augusts-property-slump-will-only-get-worse/page-2

Something going on with supply? Post 21.

Oh the old 'supply and demand gambit' - I don't know what it means but it seems to be some sort of crasher's catchphrase.

According to the in-depth analysis in your link frightened Londoners are selling up and heading to Maidstone like refugees.

chucknorris

Crashy_Time wrote: »

You bought in `05, you might have done so comfortably for cash, or paid down a lot of your mortgage, but the eventual value of your investment depends on sentiment, credit, the behaviour of the other market participants, and even more worryingly, the government. If you had bought in 1995, then unless you had borrowed heavily against your house (many did it seems) you would not be troubled too much by a big correction. `05 is a bit close to Ponzi Ground Zero for my tastes.

We currently have 9 properties, but have bought more (and sold), we bought in 1991 (sold in 2003), 1991, 1991, 1992 (sold in 1998), 1993, 1999, 1999, 2003, 2004, 2005 (our home bought with cash) and 2008. 4 of the above properties has no mortgage, the other 5 have an average of about 30% LTV, or expressed as a LTV of all the properties it would be 15%.

robmatic

Crashy_Time wrote: »

Because they have been holding out for "prices to go back up" or "things to get better". Lets see how the totals shape up when people realise we are going into a proper correction shall we?

Supply has been shrinking, sales have been steady, if not increasing. You're interpreting this as the beginning of a 'proper' correction in EH11?

chucknorris

robmatic wrote: »

Nope. You're projecting your fear of financial commitment onto others.

Yes well spotted, that is exactly what he is doing.

robmatic

chucknorris wrote: »

We currently have 9 properties, but have bought more (and sold), we bought in 1991 (sold in 2003), 1991, 1991, 1992 (sold in 1998), 1993, 1999, 1999, 2003, 2004, 2005 (our home bought with cash) and 2008. 4 of the above properties has no mortgage, the other 5 have an average of about 30% LTV, or expressed as a LTV of all the properties it would be 15%.

You must be terrified!

chucknorris

robmatic wrote: »

You must be terrified!

My biggest fear is that the daleks will take over the Earth, and ban houses and flats with stairs in them. Or enforce lifts/escalators to be retro-fitted, not to mention being exterminated of course.


But on a serious note, we are finished with buying more property now, I'm looking at shares (funds, not single company (too risky)) as I approach retirement.

wotsthat

Crashy_Time wrote: »

You bought in `05, you might have done so comfortably for cash, or paid down a lot of your mortgage, but the eventual value of your investment depends on sentiment, credit, the behaviour of the other market participants, and even more worryingly, the government. If you had bought in 1995, then unless you had borrowed heavily against your house (many did it seems) you would not be troubled too much by a big correction. `05 is a bit close to Ponzi Ground Zero for my tastes.

Do you not see any irony in offering house buying tips?

chucknorris

wotsthat wrote: »

Do you not see any irony in offering house buying tips?

If only we had listened to him and rented a bedsit in Edinburgh! Time for bowls now, I wonder what other tips I'll find when I get home in about an hour.

wotsthat

chucknorris wrote: »

But on a serious note, we are finished with buying more property now, I'm looking at shares (funds, not single company (too risky)) as I approach retirement.

Your biggest problem is going to be spending it rather than losing it.

If you'd had Crashy's advice (and been unwise enough to listen) when you started out you wouldn't have these worries and burdens now.