Another couple of questions for crash trolls

chucknorris

purch wrote: »

They might be waiting a while.

We still have 3 of the properties I bought at auction in 1991 in Queens Reach East Moseley....one of them cost me £ 41,365 all in, and the rest less than £ 50K. Seeing as they go for much more than 10X that nowadays................

Similar pattern here, the flats I bought in Battersea in 1991, have gone up about 8 fold:
£500k from £58.5k (first rent was £650, now £1,800)
£560k from £70.5k (first rent was £750, now £1,763 (but this needs increasing)

Percy1983

chucknorris wrote: »

Depends where you are Percy, for example our properties in London are up about 35% from the 2007/8 peak.

I absolutely agree, just pointing it out just because the crash didn't happen in London doesn't mean it didn't happen.

chucknorris

Percy1983 wrote: »

I absolutely agree, just pointing it out just because the crash didn't happen in London doesn't mean it didn't happen.

It wasn't as bad as some places, but prices did fall, the lowest value I saw on any of my properties was 20% down from peak.

westernpromise

chucknorris wrote: »

It wasn't as bad as some places, but prices did fall, the lowest value I saw on any of my properties was 20% down from peak.

Needless to say the crashtrolls of HPC missed this completely and are still waiting for prices to fall again. And if they do they'll also miss that.

westernpromise

Crashy_Time wrote: »

I will be buying cash, so the banks are not involved - in answer to your first questions.


In answer to your second - when there are no posts on here from indebted property mentalists, that is the time to buy

What a shame you didn't buy 15 years ago! You'd be most of the way through the mortgage by now - and you'd have more cash saved than you do because the mortgage at the 2000 price would have been cheaper than renting!

You could have practically had two flats by now instead of not having any.

carslet

westernpromise wrote: »

What a shame you didn't buy 15 years ago! You'd be most of the way through the mortgage by now - and you'd have more cash saved than you do because the mortgage at the 2000 price would have been cheaper than renting!

You could have practically had two flats by now instead of not having any.

I think this is what annoys them the most. They are just so angry that they missed out, which is understandable.

I was a person that believed there was a HPC coming when all my friends were buying and telling me I was crazy, In the end I realised and I bought, it was the best thing I ever did.

fordcapri2000

westernpromise wrote: »

Let's suppose there's a house price crash like many crash trolls imagine they want.

Let's further suppose you're a crash troll who's been confidently waiting for this to happen so you can step over the wreckage and snap up a bargain.

So a couple of questions, for fun.

In a market that has just crashed (eg) 30%, do you think mortgage lenders will require a deposit that is

1. higher than they require now?
2. lower than they require now?
3. the same as they require now?

And as fun followup question, what do you think your own chances are of spotting the bottom of the market and buying back in at the right time, given that you're a houseless crashtroll now?

1. Good; you are a shrewd trendspotter who has so far always called house prices right
2. Poor; you've never called the housing market right yet
3. Neither; lizards and the banks will conspire against you again

The one thing I do like about your stupid opening post on this thread is that it at least articulates the supposition held by several full time posters on this board in a hateful way most fight to conceal.

A property crash may or may not happen, it might start today, next month, next year or never happen at all, or God forbid it could well turn out that it has already started.

But in one broad stroke you have stereotyped anyone who has, had or who will ever have that opinion you so dislike.
Some might even hold property, rent property out, be respected economists, but bless you are going to Pigeonhole all of them "Trolls".

I can fully understand that you could be in a position where a property crash would be detrimental to your lifestyle, but to stick fingers in your ears and go nah nah nah not listening will one day in all probability leave you unprepared when you could have taken safety measures, maybe? Of course you could well be in a position where you stand to lose everything or it will make no difference, so many scenarios out there.

I was actually warned off HPC recently for making the very same point, but giving it too posters who did not want to hear that prices could with a lot of tinkering and government control hold up for a good deal longer than many want or even willing to except.

I do though think the thought of a property crash is of biblical catastrophe size to many people, I also believe that many of us(whatever opinion) understand more than anything the strength and destruction that just a thought has, SENTIMENT.

I have lived long enough to know that there are a good number of people in the world who have an awful, sad infliction which most know as being a "Control freak". It comes out in their dealings with women, their children, jobs, and worst in a lot of cases their perception on how they want the world to see them, it has to be exhausting for the control freak and the people who live around it.

There are a lot of people out there that really cannot influence much in the way of major world events or UK events, to control freaks that is a struggle. But the ones who are maybe in a position where a property crash might effect their lives or even badly effect their lives how they perceive it and should it happen can do one thing, they can get on the internet, they can write on blogs, chat to their family in friends an try and CONTROL SENTIMENT.

I want a property crash to happen as well as thinking one will happen, two different things. But spending every day surfing the web for stories and articles that strengthen my views will only fall on death ears in most cases on this board and other certain blogs out there.

I personally do not get annoyed with anyone holding a strong belief that is real, whatever it is. But sadly on here you just have people with agendas who have mastered the art of shutting down the property crash scenario in a far better way than you(though less honest).

But anyway, a property crash is coming our way:) It is just a huge great massive deadly weight that is sitting over our heads being held in place by shoddy scaffolding made of string and tape which is being repaired and bodged by the minute. I have no idea when it will come crashing down

or

If someone one day comes along with the most powerful hydraulic lift imaginable and makes the weight more stable.

I am keeping my ears open just in case that happens and not calling them "Trolls"

chucknorris

fordcapri2000 wrote: »

But sadly on here you just have people with agendas who have mastered the art of shutting down the property crash scenario in a far better way than you(though less honest).

But anyway, a property crash is coming our way

When will people realise that posting on this forum is NEVER going to affect the market, how could it? There are only a handful of posters on here.


A property correction is inevitable, but it will come when the general economy declines, personally I do not believe that will happen for some time, my best guess would be around the mid 20's (2023 to 2026?). I believe that we are still in a cautious recovery from the last recession, and it will take some time to fully recover, but we are recovering. When house prices come under pressure only because they are comparatively high, that will not cause a property crash if the economy is not in serious decline, it will merely result in a small dip and/or stagnation. That is where I believe the London property market is right now, because prices have recently shot up very fast, the rise in prices has run out of steam, so I suspect that the London market will falter, but only by stagnation or a small dip in prices.

fordcapri2000

chucknorris wrote: »

When will people realise that posting on this forum is NEVER going to affect the market, how could it? There are only a handful of posters on here.


A property correction is inevitable, but it will come when the general economy declines, personally I do not believe that will happen for some time, my best guess would be around the mid 20's (2023 to 2026?). I believe that we are still in a cautious recovery from the last recession, and it will take some time to fully recover, but we are recovering. When house prices come under pressure only because they are comparatively high, that will not cause a property crash if the economy is not in serious decline, it will merely result in a small dip and/or stagnation.

"this forum is never going to effect house prices"


Yes, I was just went to great lengths to make that very point in my last post????

Yet I do not believe you are the usual suspects(24/7) believe that for a minute:)
Like I said "Agenda"

Nice selective cut and paste by the way:)

chucknorris

[QUOTE=fordcapri2000;68198503
Nice selective cut and paste by the way:)[/QUOTE]

Obviously I am only going to respond to particular issues where I have an opinion that I want to express.