HPC thread of the week

anchovypizza

Crashy_Time wrote: »

:rotfl: Really? Do you think the housing market is in good shape then? You might have landed on your feet but many stretched to "get on the ladder" and will be in mortgage debt for the rest of their lives possibly. Me, I prefer being debt free and cash rich for the moment thanks. May buy if a big enough bust takes shape though. (No HMO slapper jokes please )

No I do not Crashy, if you read the few posts that I have put on this board you will see that I am far from thinking the housing market is in good shape.

Yes I am fortunate and more importantly lucky, and nothing would please me more than seeing more lucky people getting their homes at an age when I was able to, and at affordable prices.

I wish you well, but cannot help thinking that behind the bravado is an unhappy chap just wanting his own home. I am seriously not putting you down or taking the p*** I might add, I am not happy with how the under 35's educated working generation are treated, if falls in prices are needed to correct this problem then I will have no issues. For the life of me I cannot see in anyway how my expensive home relates to wealth until I peg it and someone works out my estates value including property over my coffin.

chucknorris

wotsthat wrote: »

Crashy does valuable charity work giving free financial advice to millionaires.

Yes, however its value would be to the poor rather than the millionaires, because if his financial advice was followed, it would redistribute the wealth from the wealthy to the poor.

Out,_Vile_Jelly

Some gems from Crashy on the last two or three pages:

"most recent entrants to the market are on IO mortgages"

"most young people live at home and pay no rent"

Do you have any evidence to back up these assertions or are they just wild generalisations spewed out to make you feel better about your own life decisions?

MobileSaver

Crashy_Time wrote: »

many stretched to "get on the ladder" and will be in mortgage debt for the rest of their lives possibly.

The vast majority will pay their mortgage off when it becomes due while you will continue to pay rent for the rest of your life.

The vast majority will find owning property was one of the best things they ever did including your landlords who have seen their mortgage interest rates drop from 9% to 2.5% while continuing to charge you the same rent for the last 15 years...

ukcarper

Crashy_Time wrote: »

Wild generalisation, like the one you made about BTL`ers selling if the value increased by three times the price they paid and the rent didn`t move up substantially over a few years. Maybe half of the posters on here (about six people) think like that, but not for the country as a whole. CrashNorris has been in the game for a few years too long if that is the norm for sure :rotfl:


Most people I have discussed BTL with thought/hoped they were buying a long term income stream "as their pension", and that the property value would just automatically increase because of "supply and demand", or "not enough land", or some other notion they hadn`t really thought about too hard. Price increases from the early 2000`s to the bust in `08 were driven mainly by too much loose credit, and for many regions outside London the increases stopped when the SHTF first time around. Many BTL`ers are glad to get 400-500p.m in their pocket because they can`t sell even if they wanted to, and many are probably waiting for the price to "come back" (like mugs did during the dot.com bust)


There is a stat that used to get trotted out on HPC a lot, about MEW as a % of GDP or something similar. There is no way the MEW game could have taken off like it did if "very few people hope to cash in their equity". The reality is that the equity, or "Free Money" from property was the biggest windfall most ordinary people were ever likely to see, and they went for it like a hungry Great White on a chum line. There are also tons of people who are hoping, even expecting, that some young punter who works down Tesco`s is going to get a loan for three quarters of a million or there about so that they can retire in the style they deserve ....:rotfl: Good luck with that one, most of them will be disappointed. Rant over

Do actually read people's post or just spout HPC mantra. I said a significant number would sell others getting £500 a month on a property they paid £50k might be happy. Prices have increased by near enough 3x over the last 20 years so they could still sell below market value and make a nice profit.

You know it's possible to mew and still pay off mortgage in fact I did to make some improvements to my house which is what the majority of people who mew do.

mystic_trev

Having been on this site for several years I've been an avid supporter but I can't see it ever happening. Having sat at a dinner party earlier listening to the usual bs house prices only go up I actually believe it

http://www.housepricecrash.co.uk/forum/index.php?/topic/206992-im-going-to-buy/

The CountOfNowhere replies....

brilliant. now, #### off to mse where the greatest fools post.

mayonnaise

mystic_trev wrote: »

The CountOfNowhere replies....

Is he still posting then?
I'd have thought he'd be enjoying the good life by now on his multi-acre french estate with private airstrip and heated pool. :rotfl:

TheeMaskedTurnip

mystic_trev wrote: »

http://www.housepricecrash.co.uk/forum/index.php?/topic/206992-im-going-to-buy/

The CountOfNowhere replies....

What a nasty piece of hsit that count is.

MobileSaver

mystic_trev wrote: »

http://www.housepricecrash.co.uk/forum/index.php?/topic/206992-im-going-to-buy/

HPC wrote:

Seriously, do whatever you want to do, but do it based on your own opinions, not because a bunch of other people are desperate for you to.

Oh the irony of such a comment appearing on HPC. :rotfl:

System

mayonnaise wrote: »

Is he still posting then?
I'd have thought he'd be enjoying the good life by now on his multi-acre french estate with private airstrip and heated pool. :rotfl:

He's given up pretending he hasn't registered over here it seems. Not sure how long the France lie will last.