http://saynotogeorge.co.uk

MARTYM8`

caronoel wrote: »

You really are a turnip brit. Can you point to a single falling price on that list?

If you had used a 95% or 100% mortgage to buy when you first registered here in 2006, you would very likely have paid off most of your mortgage by now and be happily living in your own Isleworth home, rather than still be living in single mens police accommodation, sharing a shower and cooking facilties.

Still, at least your investment strategies have given us all something to laugh at over the years

Perhaps Doctor Who can take his time machine and travel back ten years - that really isn't an option for the rest of us.:p

I have no idea what may happen to house prices in the next 5 years - but as with the stock market I might be a little nervous now as a first time buyer at buying into a market which has risen 50% in five years on the back of artificially low interest rates?

chucknorris

MARTYM8` wrote: »

Perhaps Doctor Who can take his time machine and travel back ten years - that really isn't an option for the rest of us.:p

I have no idea what may happen to house prices in the next 5 years - but as with the stock market I might be a little nervous now as a first time buyer at buying into a market which has risen 50% in five years on the back of artificially low interest rates?

Nobody has got a time machine, sure you can take a chance, and possibly end up losing, there are no guarantees, but sitting back and doing nothing, is that really what you want to do? My philosophy back in the early 90's was to back my judgement, when everyone else was telling me that I was mad for buying into a falling market (this was a time when people were literally posting keys back through estate agent's letterboxes, and walking away from their properties).

caronoel

chucknorris wrote: »

Nobody has got a time machine, sure you can take a chance, and possibly end up losing, there are no guarantees, but sitting back and doing nothing, is that really what you want to do? My philosophy back in the early 90's was to back my judgement, when everyone else was telling me that I was mad for buying into a falling market (this was a time when people were literally posting keys back through estate agent's letterboxes, and walking away from their properties).

Really great post Chuck.

The issue is hat the OP has had the opportunity to buy for the last 10 years, and has sat on his hands waiting for the crash that never came.

At one level, it is quite sad.

wotsthat

brit1234 wrote: »

Thanks for the stats proving my point. Your use of year on year figures shows the trend of falling prices from central London and these figures are 4 months delayed. I'm sure yours see the price falls in the monthly figures ripple out from the center continue.

I don't doubt prices went up with all the props over the last few years but it wasn't sustainable. Cheap credit (0.5% interest rates, funding for lending, QE), irresponsible lending (Help to buy) and mass fraud (money laundering, gaming etc). See prices were only going up with all these props and pricing out decent hard working people. The mood has changed, politicians are becoming far more supportive to home buyers over house prices hence the article at the top with the landlords panicking.

Yeah, if it hadn't been for pesky 4 months delayed data, 0.5% interest rates, funding for lending, QE, help to buy, props, an unsupportive government and fraud you would've got away with it.

chucknorris

caronoel wrote: »

Really great post Chuck.

The issue is hat the OP has had the opportunity to buy for the last 10 years, and has sat on his hands waiting for the crash that never came.

At one level, it is quite sad.

I didn't know that (that he didn't buy for 10 years) it reminds me of a line from the film bladerunner (something about slavery is to live in fear). You are right, it certainly is sad, and he is now in a real predicament, he can only win by accepting that he has been totally wrong for 10 years and now take the same chance that would have had him sitting on a pile of equity if he had only made the same decision a decade ago, not an enviable situation to be in. But the temptation to hang on and not buy, and vindicate his previous bad decisions to not buy, could give him another decade of pain.

wotsthat

chucknorris wrote: »

I didn't know that (that he didn't buy for 10 years) it reminds me of a line from the film bladerunner (something about slavery is to live in fear). You are right, it certainly is sad, and he is now in a real predicament, he can only win by accepting that he has been totally wrong for 10 years and now take the same chance that would have had him sitting on a pile of equity if he had only made the same decision a decade ago, not an enviable situation to be in. But the temptation to hang on and not buy, and vindicate his previous bad decisions to not buy, could give him another decade of pain.

I don't think we should be too hard on Brit. Most crashers buy and slink away never to be seen again so I'm glad of Brit's commentary. I sort of hope his buyers strike was nothing more than someone who couldn't afford to buy saying they wouldn't buy. I'd feel bad for him if he really could've bought 10 years ago but decided to rent whilst prices crashed ( and then didn't buy when they did).

I'd quite like to know how Bubble and Squeak got on. He had a lengthy list of things that pointed to prices immently falling and I do wonder whether he bought or not. He does check in now and again but, despite being an avid poster at one time, seems to have gone quiet.

Crashy has been generous with providing details and I hope he keeps us updated too.

purch

chucknorris wrote: »

My philosophy back in the early 90's was to back my judgement, when everyone else was telling me that I was mad for buying into a falling market (this was a time when people were literally posting keys back through estate agent's letterboxes, and walking away from their properties).

It was pretty easy back then...................if you walked into an EA's office on Thursday morning you were most likely the first person to have done so all week. Every estate agent I spoke to was suicidal and most were talking about getting out of the business, as the market was NEVER going to recover.

It was like taking sweets off a baby :T

chucknorris

wotsthat wrote: »

I don't think we should be too hard on Brit. Most crashers buy and slink away never to be seen again so I'm glad of Brit's commentary. I sort of hope his buyers strike was nothing more than someone who couldn't afford to buy saying they wouldn't buy. I'd feel bad for him if he really could've bought 10 years ago but decided to rent whilst prices crashed ( and then didn't buy when they did).

I'd quite like to know how Bubble and Squeak got on. He had a lengthy list of things that pointed to prices immently falling and I do wonder whether he bought or not. He does check in now and again but, despite being an avid poster at one time, seems to have gone quiet.

Crashy has been generous with providing details and I hope he keeps us updated too.

Posters like Crashy, Bubble and Brit do provide a very good service, they provide an insight for those on the borderline, of what can happen to you if you make the wrong decisions in life. Mostly the consequences are only financial, but also unfortunately it can (as we have seen with some posters) affect them psychologically too.

chucknorris

purch wrote: »

It was pretty easy back then...................if you walked into an EA's office on Thursday morning you were most likely the first person to have done so all week. Every estate agent I spoke to was suicidal and most were talking about getting out of the business, as the market was NEVER going to recover.

It was like taking sweets off a baby :T

Yeah those were the good old days. Although I do remember some worrying times too, like the day (before the evening) that we left the ERM, when the base rate was getting very high (up to 15%, I can't remember if it was actual or just planned, but it had certainly been increased to 12% just prior to that). Even though it looked inevitable that we would have to immediately leave the ERM to reduce the base rate, there was always the chance that Lamont might try and hang on (it did test my faith, on the one hand I was certain that we had to pull out, on the other hand if we didn't, I was in for a very rough ride). The worst part was that I was so busy at work, and I had to work late, I remember hurrying home, switching the tv on and was relieved to hear on newsnight that we had just pulled out of the ERM.

Generali

chucknorris wrote: »

Yeah those were the good old days. Although I do remember some worrying times too, like the day (before the evening) that we left the ERM, when the base rate was getting very high (up to 15%, I can't remember if it was actual or just planned, but it had certainly been increased to 12% just prior to that). Even though it looked inevitable that we would have to immediately leave the ERM to reduce the base rate, there was always the chance that Lamont might try and hang on (it did test my faith, on the one hand I was certain that we had to pull out, on the other hand if we didn't, I was in for a very rough ride. The worst part was that I was so busy at work, and I had to work late, I remember hurrying home, switching the tv on and was relieved to hear on newsnight that we had just pulled out of the ERM.

It was announced for the following day I believe and then as the UK pulled out of the ERM later that evening was never enacted.