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

gallygirl

Crashy_Time wrote: »

I would categorise someone who claims to have bought in the 90`s and who claims to be winning, but who comes on here every day to defend HPI as a liar.

Bought in 99. Last time the same style house sold a few years ago it had doubled. Sales of neighbouring houses have shown increased prices since so it's still at least doubled. I'm not going to 'prove it' as that would mean identifying myself which I'm not prepared to do.

I don't defend HPI though, just state it as a fact. But I'm not a liar.

I'm also prepared to say we've lost a lot of equity on a property in Spain (I could say it's only a paper loss as we've no intention of selling, but it will take a very, very long time to recover).

I've made money on every property I've sold, in the 80's, 90's, 00's and teens. In some cases a ridiculous amount (in very relative terms, I'm in a very low house price area compared to the South East), in other cases we'd probably have made more in low risk investments. But whether it's been for our home or as a buy to let the motivation has never been for capital growth. My business plans for my first and subsequent btl's have been based on house prices merely keeping up with inflation. I would say that's the case for the majority of home and btl owners. A home is bought as a home, with one eye at most on future value and btl's are bought for eventual income.

wotsthat

Crashy_Time wrote: »

I would categorise someone who claims to have bought in the 90`s and who claims to be winning, but who comes on here every day to defend HPI as a liar.

What about the poor chap who claims to be winning but sold to rent in the late nineties and has had to work their way down the housing market to avoid rent increases?

Jason74

wotsthat wrote: »

What about the poor chap who claims to be winning but sold to rent in the late nineties and has had to work their way down the housing market to avoid rent increases?

Well he (or she) has just been a bit silly really. If you can afford the payments and are not desperately unhappy in the property for some reason, selling to rent is always a bad idea imho precisely because the primary value in homeownership isn't the capital value of the house (despite what some at both extremes of the argument might say). It's about having a secure place to live, with the massive bonus that you eventually reach a point where yuo free up a big chunk of income by not having to make payments for housing anymore.

Crashy_Time

gallygirl wrote: »

Bought in 99. Last time the same style house sold a few years ago it had doubled. Sales of neighbouring houses have shown increased prices since so it's still at least doubled. I'm not going to 'prove it' as that would mean identifying myself which I'm not prepared to do.

I don't defend HPI though, just state it as a fact. But I'm not a liar.

I'm also prepared to say we've lost a lot of equity on a property in Spain (I could say it's only a paper loss as we've no intention of selling, but it will take a very, very long time to recover).

I've made money on every property I've sold, in the 80's, 90's, 00's and teens. In some cases a ridiculous amount (in very relative terms, I'm in a very low house price area compared to the South East), in other cases we'd probably have made more in low risk investments. But whether it's been for our home or as a buy to let the motivation has never been for capital growth. My business plans for my first and subsequent btl's have been based on house prices merely keeping up with inflation. I would say that's the case for the majority of home and btl owners. A home is bought as a home, with one eye at most on future value and btl's are bought for eventual income.

My point was about the people who try to attack anything that says property prices are heading for a crash. They claim to have done the best thing ever, and be ahead financially, but they still feel the need to lurk on here and attack anyone who calls a bubble a bubble. My belief is that they are heavily leveraged/relying on income from property and panicking, not "winning" as they would like to pretend.

Crashy_Time

wotsthat wrote: »

What about the poor chap who claims to be winning but sold to rent in the late nineties and has had to work their way down the housing market to avoid rent increases?

Flat now is almost identical to one in the late 90`s, but only 50 p.m more expensive. Stop forming all your beliefs from Hamish and his charts.

wotsthat

Crashy_Time wrote: »

Flat now is almost identical to one in the late 90`s, but only 50 p.m more expensive. Stop forming all your beliefs from Hamish and his charts.

Don't need a chart.

Not a single flat available in Edinburgh on Rightmove for the amount you're paying in rent. Yes, you can find rentals in newsagents and the like but, if you're paying the same at the late nineties for a comparable property, you've either got a great deal now, were overpaying in '99 or just making stuff up.

Meantime the place you STR'ed in the late nineties must have doubled in price. You need a 50% crash to be able to buy it back for the same price and you've invested 15 years of rent into the project.

That would knock most people's confidence in acting as a housing guru - not you though.

chucknorris

Crashy_Time wrote: »

I would categorise someone who claims to have bought in the 90`s and who claims to be winning, but who comes on here every day to defend HPI as a liar.

I bought in the 90's, I wouldn't say I come on here everyday, but I do call in regularly, I don't defend HPI, that is actually a ridiculous statement, why would anyone defend HPI? It is a fact of life, it doesn't need defending. I don't care if you think I'm a liar, it just shows how wrong you are.

Crashy_Time

wotsthat wrote: »

Don't need a chart.

Not a single flat available in Edinburgh on Rightmove for the amount you're paying in rent. Yes, you can find rentals in newsagents and the like but, if you're paying the same at the late nineties for a comparable property, you've either got a great deal now, were overpaying in '99 or just making stuff up.

Meantime the place you STR'ed in the late nineties must have doubled in price. You need a 50% crash to be able to buy it back for the same price and you've invested 15 years of rent into the project.

That would knock most people's confidence in acting as a housing guru - not you though.

Where is Hamish BTW, counting his Roubles maybe......


I didn`t STR in the late 90`s, I sold a house in the mid 90`s because I moved to a different city, not everyone is going to sit in the same four walls for 45 years thinking how well they have done :T Strangely the LAST flat I had cost roughly the same as this one, and it was slightly bigger, must be something special about me finding all these great deals? Properly priced flats are not on Wrongmove because they have TENANTS, and are likely to have tenants for the foreseeable future because they are keenly priced. There are not enough tenants in Edinburgh to bail everyone out of their daft borrowing decisions I`m afraid.


Your posts just make you come across as an idiot, there has been no serious upward move in Edinburgh rent and nothing has doubled in price, doesn`t matter how much you want it to be so, it isn`t, accept it and wave Ta Ta to your precious HPI.

wotsthat

Crashy_Time wrote: »

I didn`t STR in the late 90`s, I sold a house in the mid 90`s because I moved to a different city, not everyone is going to sit in the same four walls for 45 years thinking how well they have done :T Strangely the LAST flat I had cost roughly the same as this one, and it was slightly bigger, must be something special about me finding all these great deals? Properly priced flats are not on Wrongmove because they have TENANTS, and are likely to have tenants for the foreseeable future because they are keenly priced. There are not enough tenants in Edinburgh to bail everyone out of their daft borrowing decisions I`m afraid.

Your posts just make you come across as an idiot, there has been no serious upward move in Edinburgh rent and nothing has doubled in price, doesn`t matter how much you want it to be so, it isn`t, accept it and wave Ta Ta to your precious HPI.

That's a bit odd. Everyone in an Edinburgh flat is paying peanuts for rent and only the empty ones are really expensive? If I need to find a flat for work in Edinburgh won't I need one of those expensive ones? A tenanted flat isn't much good to me is it no matter how little you think the occupants pay in rent.

We might be looking at different Edinburghs. You'll find the odd anomaly but if you now sold in the mid rather than late nineties that house has more than doubled in value. It's not credible to argue otherwise and you can add another 4 years of rent to the project too.

If rents and prices haven't moved in 20 years what's all the fuss about.

Crashy_Time

wotsthat wrote: »

That's a bit odd. Everyone in an Edinburgh flat is paying peanuts for rent and only the empty ones are really expensive? If I need to find a flat for work in Edinburgh won't I need one of those expensive ones? A tenanted flat isn't much good to me is it no matter how little you think the occupants pay in rent.

We might be looking at different Edinburghs. You'll find the odd anomaly but if you now sold in the mid rather than late nineties that house has more than doubled in value. It's not credible to argue otherwise and you can add another 4 years of rent to the project too.

If rents and prices haven't moved in 20 years what's all the fuss about.

I didn`t sell in Edinburgh though, so you will just have to come up with more nonsense to prove your point. It is very likely that much of the stuff for rent on Rightmove eventually goes for cheaper monthly rates, when the owners get fed up with the void.