HPC thread of the week

anchovypizza

"You must be quite an age, calling a 57 year old 'laddie'"

"There isn't that much chance of 'things changing' (as you put it)"
..................................................


My apologies, but following some of the threads on this board as I sometimes do I honestly never had you down as a man that age going on the way you articulate yourself on this board, you are slightly older than me.

Thanks for the run down in your life?

Even in your own post you point out a massive change, the days when people were handing keys back to estate agents to where we are now, I remember that too.
I take my hat off to you if you have a method for knowing that there is no events in the pipeline, do you use the crystal ball or tea leaves method?

Out of interest do you have children?, what sort of future would you like for them when it comes to housing if you do have them?. Personally I want a lot more for mine.

ukcarper

anchovypizza wrote: »

"You must be quite an age, calling a 57 year old 'laddie'"

"There isn't that much chance of 'things changing' (as you put it)"
..................................................


My apologies, but following some of the threads on this board as I sometimes do I honestly never had you down as a man that age going on the way you articulate yourself on this board, you are slightly older than me.

Thanks for the run down in your life?

Even in your own post you point out a massive change, the days when people were handing keys back to estate agents to where we are now, I remember that too.
I take my hat off to you if you have a method for knowing that there is no events in the pipeline, do you use the crystal ball or tea leaves method?

Out of interest do you have children?, what sort of future would you like for them when it comes to housing if you do have them?. Personally I want a lot more for mine.

What a person wants for themself and their children is totally different to what has happened to house prices and what they think will happen in the future. I personally would have preferred it if prices hadn't increased to the level they have but that doesn't mean I think there is going to be a crash in fact I can't see a significant crash happening in the near future.

You also miss the point with people like Crashy and the rest of HPC supporters, supposedly they can afford to buy but haven't because they think property is overpriced so continue to rent in the hope of that prices will fall, whereas most people me included buy whey they can afford to and don't try to predict the future as like you they want an home.

wotsthat

I've always tried to work out what's the cheapest and nicest way to provide a home for my family. For the majority the answer will be buying - I know that and so do the crew on HPC. I never made that call based on what I thought house prices would do.

The only difference is they delayed buying and bet prices would fall. They were wrong and do seem to be bitter about losing the bet. It's a fools bet - they have no insight (like me) into house price direction, the bet is expensive to maintain, and if it's goes wrong you might not be able to afford at all.

If someone wants to buy, has the deposit, finance, and can afford the repayments that sounds like the time to buy. Prices will go up and down regardless.

anchovypizza

ukcarper wrote: »

What a person wants for themself and their children is totally different to what has happened to house prices and what they think will happen in the future. I personally would have preferred it if prices hadn't increased to the level they have but that doesn't mean I think there is going to be a crash in fact I can't see a significant crash happening in the near future.

You also miss the point with people like Crashy and the rest of HPC supporters, supposedly they can afford to buy but haven't because they think property is overpriced so continue to rent in the hope of that prices will fall, whereas most people me included buy whey they can afford to and don't try to predict the future as like you they want an home.

What point is it that I am missing?

You keep raising the subject of things such as "Crashy " or "HPC supporters", still unclear what the latter is given I am supposedly missing the point about it whatever "It" is.

I have two children now working, both having degrees and working and having left home and the other rebelling and not considering going to uni. They obviously fit into your treat with disdain bracket as the are both renting at the moment, but are really just trying to get better and what they do at the moment, both with medical jobs, I am personally proud as punch with both of them.

There are approx 22 million homes in Britain I am led to believe, half are mortgaged, and if I am right and I think I am not too far out the less than 35% under 35 year olds now have their own home, the rest are renting.

There is million reasons why people do what they do when t comes to housing, but I personally do not see any right and wrong in whatever someone chooses to do. I have lived long enough to ignore the Mr Shouty's of this world who proclaim to know what is right and wrong for someone else.

But something is different, for one the difficulties in buying are far harder than in any of the times I did.

chucknorris

anchovypizza wrote: »

What point is it that I am missing?

You keep raising the subject of things such as "Crashy "

'Crashy Time' is a poster on here, who sold his house about 20 years ago, and rents by choice. He argues that it is best to store his wealth in cash (not property, shares or bonds). My post was aimed at his poor investment choices, rather than anything else (I did highlight his name in the post that I was replying to), but if you are new here, you obviously won't know the history of various posters. He will probably be along soon slagging off my investment choices, arguing that it is better to hold cash :rotfl:

Obviously I know that there is a place for cash in any portfolio, but not 100% in the long term.

ukcarper

anchovypizza wrote: »

What point is it that I am missing?

You keep raising the subject of things such as "Crashy " or "HPC supporters", still unclear what the latter is given I am supposedly missing the point about it whatever "It" is.

I have two children now working, both having degrees and working and having left home and the other rebelling and not considering going to uni. They obviously fit into your treat with disdain bracket as the are both renting at the moment, but are really just trying to get better and what they do at the moment, both with medical jobs, I am personally proud as punch with both of them.

There are approx 22 million homes in Britain I am led to believe, half are mortgaged, and if I am right and I think I am not too far out the less than 35% under 35 year olds now have their own home, the rest are renting.

There is million reasons why people do what they do when t comes to housing, but I personally do not see any right and wrong in whatever someone chooses to do. I have lived long enough to ignore the Mr Shouty's of this world who proclaim to know what is right and wrong for someone else.

But something is different, for one the difficulties in buying are far harder than in any of the times I did.

I not sure why you think I treat people who rent with disdain I realise people rent for many reasons and that many rent because they can't afford to buy.
Crashy etc continually preach that there is going to crash and anybody who buys is an idiotic debt junky (what ever that is) if they continually post such things they are opening themselves up for criticism.

mwpt

wotsthat wrote: »

The only difference is they delayed buying and bet prices would fall. They were wrong and do seem to be bitter about losing the bet. It's a fools bet - they have no insight (like me) into house price direction, the bet is expensive to maintain, and if it's goes wrong you might not be able to afford at all.

Seems at odds with some of the opinions here. Keep seeing people say that houses are no less affordable today than X years ago, yet the above statement implies that they are. Forgive me if it wasn't you who said that.

ukcarper

mwpt wrote: »

Seems at odds with some of the opinions here. Keep seeing people say that houses are no less affordable today than X years ago, yet the above statement implies that they are. Forgive me if it wasn't you who said that.

I'm not sure many people are saying that house are no less affordable today than x years ago I personally think houses are the least affordable they have been in my lifetime. But there have been a few times in the past when it's been almost as hard to buy.

But when you consider that 20 years ago prices in relation to earning were pretty much the lowest they have been and that they were still below the long term average until 2002,so if you were in a position to buy in that period choosing not to was not a great decision.

wotsthat

mwpt wrote: »

Seems at odds with some of the opinions here. Keep seeing people say that houses are no less affordable today than X years ago, yet the above statement implies that they are. Forgive me if it wasn't you who said that.

If I was doing the sums today then I'd compare today's cost of buying with today's cost of renting. I imply nothing about what those current costs are. Houses look expensive to me; especially so because I bought in the '90's but that's by the by. You set the spreadsheet up based on what the costs are - not what you want them to be.

The HPC crew's spreadsheets used a predicted future price and x months of rent required until that price was achieved. They got the prediction wrong and x has increased - it's only numbers - can't be right all the time. The reality is they didn't even consider x; had they considered the cost of the bet it wouldn't have seemed so attractive.

Of course not everyone can afford to buy so , if they want to buy, they need to focus on keeping their savings ratio high and hope for the best.

In all of this I think the focus on London skews the logical thought process. Maybe world capital cities are for renting and young people should use them to make a start, have a good time with no ties and move on.

chucknorris

anchovypizza wrote: »

"You must be quite an age, calling a 57 year old 'laddie'"

"There isn't that much chance of 'things changing' (as you put it)"
..................................................


My apologies, but following some of the threads on this board as I sometimes do I honestly never had you down as a man that age going on the way you articulate yourself on this board, you are slightly older than me.

Thanks for the run down in your life?

Even in your own post you point out a massive change, the days when people were handing keys back to estate agents to where we are now, I remember that too.
I take my hat off to you if you have a method for knowing that there is no events in the pipeline, do you use the crystal ball or tea leaves method?

Out of interest do you have children?, what sort of future would you like for them when it comes to housing if you do have them?. Personally I want a lot more for mine.

No we don't have children, but obviously I understand how that can affect and influence what you want for them in their economic future.

I'm surprised that you still seem to have an ‘attitude’, I was giving you the benefit of the doubt, but I'm starting to think that you are simply trolling. I wasn't saying that there wouldn't be any events in the pipeline or another crash, in fact, I can almost guarantee that there will be another crash (my guess is around the mid twenties). The point is though, even if we did nothing beforehand (unlikely), sold at the bottom of the market (again unlikely, because they provide such good income, we would probably just ride out the recession) we would still have enough wealth for a very comfortable retirement (I did say that our mortgages were only 12% of the property values). When I said nothing would change, I meant nothing that would affect our financial comfort in retirement.

Managing your assets isn't just about being optimistic and hoping for the best, it is about being flexible and having a strategy for both good and bad times.

Shortly after posting my previous thread, I took my dog out for a walk, and I suddenly remembered that I had forgotten about two London houses that I sold in 1997 and 2003, so it was actually 9 not 7 properties that I have bought, and if you include the 3 houses that my wife bought (in her own name) it would be 12, so I don’t know why you seem to be making such a big thing of having bought 3.