London Has Peaked

economic

cells wrote: »

he does own it, look at the land registry titles

A mortgage company may have a first charge on it but that means the mortgage company is owned money to the sum of the charge

If I lend you £5k, and you go buy 1 second hand car, 1 holiday, 1 nice meal in a restaurant. You dont owe me a second hand car a holiday and a meal you owe me the £5k. If you decide not to pay up I may go to court who may well sieze your second and car and other assets they dont give me your second hand car as I dont own that they sell it and give me the cash.

Either way you are probably beyond help. Good luck to you

you are the only person who provides consistently good advice and analysis on here. replying to crashy just makes me laugh so much

Crashy_Time

economic wrote: »

you are the only person who provides consistently good advice and analysis on here. replying to crashy just makes me laugh so much

If you like him so much why not help him with spelling and grammar, it does undermine the Buffet like wisdom he dispenses....:rotfl:

economic

Crashy_Time wrote: »

If you like him so much why not help him with spelling and grammar, it does undermine the Buffet like wisdom he dispenses....:rotfl:

its a mistake he made - a very minor mistake that can and should easily be forgiven. unlike your mistake of not buying and instead renting all this time. which you can never forgive yourself for and if you have family your family wont forgive you for either.

Crashy_Time

economic wrote: »

its a mistake he made - a very minor mistake that can and should easily be forgiven. unlike your mistake of not buying and instead renting all this time. which you can never forgive yourself for and if you have family your family wont forgive you for either.

Stop talking emotive rubbish....:rotfl:He tries to walk the walk of an informed financially savvy individual, but can`t be bothered to check the spelling in his droplets of wisdom, that says to me he isn`t really an informed financially savvy individual, just another punter on the internet with too many BTL mortgages outstanding....:rotfl:

chucknorris

Crashy_Time wrote: »

Stop talking emotive rubbish....:rotfl:He tries to walk the walk of an informed financially savvy individual, but can`t be bothered to check the spelling in his droplets of wisdom, that says to me he isn`t really an informed financially savvy individual, just another punter on the internet with too many BTL mortgages outstanding....:rotfl:

I think Crashy has a point here, Crashy has probably lost £100,000's by miss-timing the property market, but wait! Equally serious, cells has typed a spelling error on an onominous internet forum, which error would you want to make? I'm afraid this one is too close for me to call.

EDIT: Damn I forgot to spell check this, I hope I'm OK.

cells

Crashy_Time wrote: »

Newsnight last night - "Greater supply (of houses) at existing prices isn`t going to help". Every day the MSM trumpet headlines and discussions that would only have appeared on HPC and a few other sites even five years ago, can`t you see that the HPC message has gone mainstream ? No amount of trying to take the argument on to how terraces no-one wants are cheaper (with emergency rates and an I.O mortgage) than the price the taxpayer pays to give people free rent will change that.

what makes you think media articles or even politicians are correct in their views? it is again just confirmation bias they say what you agree with so you hold them up

if you asked the writers of said articles or the politicians who hold such views 1: how do the prices across the regions vary 2: how much are social rents roughly. Do you think they could even answer that? Its not even a question about affordability its simply a question 1 do you know the price and 2 is it lower or higher than social rents

if they dont know the price and dont compare it to something to try and work out if its high or not how can they even come to a conclusion?????????????????????



what these people are doing is exactly what you and your friends at hpc are doing. You look at a price and since it has doubled you conclude its now unaffordable or silly prices.

This is a very human thing to do but its clearly stupid.
It even happens to me soemtimes, I look at a property and another on the same road has sold for X thousand more in the last 12 months so it makes me think/feel f.this i'm getting a raw deal. However after a few minutes I tell myself its irrelevant what the next door house sold for they might have got a fantastic deal whats important is what prices are now and what they will be in the future and what the fundamentals are

you would not price stocks value on what the price was 6 months or 6 years ago that is irrelevant yet we do it with homes

cells

economic wrote: »

its a mistake he made - a very minor mistake that can and should easily be forgiven. unlike your mistake of not buying and instead renting all this time. which you can never forgive yourself for and if you have family your family wont forgive you for either.

I didnt even look at let alone edit what the spelling mistake was when he posted about it because its that important.....

Crashy_Time

cells wrote: »

what makes you think media articles or even politicians are correct in their views? it is again just confirmation bias they say what you agree with so you hold them up

if you asked the writers of said articles or the politicians who hold such views 1: how do the prices across the regions vary 2: how much are social rents roughly. Do you think they could even answer that? Its not even a question about affordability its simply a question 1 do you know the price and 2 is it lower or higher than social rents

if they dont know the price and dont compare it to something to try and work out if its high or not how can they even come to a conclusion?????????????????????



what these people are doing is exactly what you and your friends at hpc are doing. You look at a price and since it has doubled you conclude its now unaffordable or silly prices.

This is a very human thing to do but its clearly stupid.
It even happens to me soemtimes, I look at a property and another on the same road has sold for X thousand more in the last 12 months so it makes me think/feel f.this i'm getting a raw deal. However after a few minutes I tell myself its irrelevant what the next door house sold for they might have got a fantastic deal whats important is what prices are now and what they will be in the future and what the fundamentals are

you would not price stocks value on what the price was 6 months or 6 years ago that is irrelevant yet we do it with homes

http://www.telegraph.co.uk/news/2016/10/17/central-bankers-have-collectively-lost-the-plot-they-must-raise/


Go to the comments section and argue with them.

Crashy_Time

chucknorris wrote: »

I think Crashy has a point here, Crashy has probably lost £100,000's by miss-timing the property market, but wait! Equally serious, cells has typed a spelling error on an onominous internet forum, which error would you want to make? I'm afraid this one is too close for me to call.

EDIT: Damn I forgot to spell check this, I hope I'm OK.

Is it Foxton`s who are handling your fire sale Chuck?

cells

Crashy_Time wrote: »

He tries to walk the walk of an informed financially savvy individual

again you are inferring things that do not exist


What I said is

Confirmation bias exists and is strong and can lead to bad decisions try to be aware and avoid it

In the future there will be people who are well off, sitting back and crying that the economy is !!!! the government is !!!! life is !!!! there is no opportunity and things are only going to get worse means you are guaranteeing you will not be in the well off camp

That judging the value of something by looking at its value 6 months or 6 years or 60 years ago is silly

That your appeal to authority of media outlets and politicians crying housing crisis is also them just trying to judge value by looking at historic prices.

Home prices vary greatly across the regions

In many regions homes are affordable/cheap and I used the definition of cheap being a mortgage sum lower than the local social rents