http://saynotogeorge.co.uk

purch

Oh, we had some sleep, and takeways from the Ritz and Langans Brasserie to keep us going.

When I got in on the Monday I about $2 million down on my positions, and finished the week about $10 million up, so it wasn't all bad.

chucknorris

purch wrote: »

Oh, we had some sleep, and takeways from the Ritz and Langans Brasserie to keep us going.

When I got in on the Monday I about $2 million down on my positions, and finished the week about $10 million up, so it wasn't all bad.

Big numbers, but I assume not your own money. On the night of leaving the ERM, I was facing personal financial ruin, although deep down I knew that we just couldn't do anything but leave the ERM and lower the base rate, nevertheless it was a very worrying time though.

mayonnaise

wotsthat wrote: »

I don't think we should be too hard on Brit.

Oh.. we should.

wotsthat wrote: »

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).

brit has stated time and time again he could afford.

brit1234 wrote: »

As said before living in London I was priced out of the market. Credit Crunch came and I could afford to buy but waited for a better deal .

He waited for the day when mass repossessions would chuck swathes of people(*) on the streets so he could swoop and pick up a house for peanuts.

((*) the same people who fund his generous public sector pay package, benefits and pension provisions by the way.)

Sympathy?
You got to be kidding.

wotsthat

mayonnaise wrote: »

Sympathy?
You got to be kidding.

I didn't know that. He could've bought in 2008 but gambled 7 years of time, rent and heartache to save a few thousand pounds more. Ouch!

I have little sympathy but I'm glad of his updates. Problem is that we only get updates from the likes of Brit and Crashy who wouldn't know a poor decision if it slapped them in the face. They're at the extreme of the bell curve.

chucknorris

wotsthat wrote: »

I didn't know that. He could've bought in 2008 but gambled 7 years of time, rent and heartache to save a few thousand pounds more. Ouch!

I have little sympathy but I'm glad of his updates. Problem is that we only get updates from the likes of Brit and Crashy who wouldn't know a poor decision if it slapped them in the face. They're at the extreme of the bell curve.

I wonder if one day they will realise how foolish they have been, and if so, will it be too late (although IMO that point in time has already passed, although they could still mitigate their losses).

wotsthat

chucknorris wrote: »

I wonder if one day they will realise how foolish they have been, and if so, will it be too late (although IMO that point in time has already passed, although they could still mitigate their losses).

This forum has a success bias so when when Brit and Crashy's dawn of self awareness arrives it's unlikely they'll post about it here.

I'd like to see Bubble and Squeak post an update. He must have realised he can't predict house prices so it would be interesting to see what he did with this realisation. More interesting with London buyers because I'm not sure whether I'd buy or not at current prices.

I don't see why people have to disappear just because they've got something wrong. I've posted before about passing up a 50% RTB share on a Bermondsey flat in the mid nineties and my over weighting of Lloyds as a gamble that the GFC would be overblown - you can't win them all.

chucknorris

wotsthat wrote: »

I don't see why people have to disappear just because they've got something wrong.

They don't have to disappear, apart from just be open about it, they could also do what geneer did, and simply buy 3 years previously :rotfl::rotfl:

mayonnaise

wotsthat wrote: »

I didn't know that. He could've bought in 2008 but gambled 7 years of time, rent and heartache to save a few thousand pounds more. Ouch!

25% deposit ready in 2008.

Sorry got a 25% and rissing deposit, great credit rating, final salary pension and a well paid secure gov. job. What problem with mortgages were you talking about .

Some of us prepared our selves for this day for years and we are now the few best suited to seize the opportunity. Very shortly we will be able to take our lives off hold.

http://forums.moneysavingexpert.com/showpost.php?p=16221339&postcount=45

'Very shortly we will be able to take our lives off hold'.

MARTYM8`

wotsthat wrote: »

This forum has a success bias so when when Brit and Crashy's dawn of self awareness arrives it's unlikely they'll post about it here.

It seems to be full of rather smug people who simply happen to have bought a house when it was a lot cheaper – and now think they are somehow masters of the universe for having done so and have seen the value of their property rise significantly. Just of course like every one else who has owned a house in the UK in the last 20 years.

Nothing special about them – bar their age – yet you would think they were Warren Buffet from the way they carry on!

Little self awareness, little concern for the social costs of all of this and little concern for how younger people and future generations will be able to afford housing if this madness continues. Just pointless baiting of a few posters who perhaps think we need to sort these issues out – so the country’s income can go on slightly more socially useful and productive things than rent and mortgage interest.

chucknorris

MARTYM8` wrote: »

It seems to be full of rather smug people who simply happen to have bought a house when it was a lot cheaper – and now think they are somehow masters of the universe for having done so and have seen the value of their property rise significantly. Just of course like every one else who has owned a house in the UK in the last 20 years.

Nothing special about them – bar their age – yet you would think they were Warren Buffet from the way they carry on!

Little self awareness, little concern for the social costs of all of this and little concern for how younger people and future generations will be able to afford housing if this madness continues. Just pointless baiting of a few posters who perhaps think we need to sort these issues out – so the country’s income can go on slightly more socially useful and productive things than rent and mortgage interest.

I don't anyone thinks that they are special in here. The 2 posters that wotsthat flagged up, one owned over 20 years ago, but sold to rent all that time ago (and still rents today). The other one is admittedly a less stark example, but he could have bought quite a few years ago in 2008 when prices were much cheaper. wotsthat wasn't baiting them though, they both aggressively post against other posters who they perceive to be 'bulls', although (if my memory serves me correctly) one much more than the other.

Unfortunately this is the 'loony' forum board, where nastiness is rife, mainly IMO because of people's personal issues and circumstances. It is much better on both the 'savings and investments' and 'pensions, annuities and retirement planning' forum boards where good advice is exchanged with far less malice than on here.