11 house hunters for every home on the market

wotsthat

Crashy_Time wrote: »

And that tells you all you need to know about the users on this forum...all eight of them......:money:

Well my bandwidth is wider than your bandwidth.

If you think a remote sub-forum with a total of 8 people who (you think) want prices to rise is trumped by another tumbleweed forum with 20 who want them to fall then you've lost all sense of reality.

You do realise it's a pretty strange hobby for people to argue about house prices on the internet in their spare time? 8 or 28 people makes no difference whatsoever - different shades of weirdness that's all.

gadgetmind

While I don't think equity release is particularly wise, we recently used some (10%) of our equity to borrow IO at 2.29% so we could loan the money to daughter for her to buy her house. She's a student so couldn't borrow at all, never mind this cheaply.

gadgetmind

wotsthat wrote: »

If you think a remote sub-forum with a total of 8 people who (you think) want prices to rise

I've publicly said on a number of occasions that I regard houses that ordinary people like myself (and employees, and relatives, etc.) can afford are a good thing, and that ultra-inflationary increase in prices are a bad thing.

However, that's entirely different to saying that a price crash is definitely coming, and so avoiding house ownership and instead sitting on a pile of cash. Hmm, there's a thought. These HPC guys *are* sitting on their cash, aren't they? It's all there ready and waiting for the crash, isn't it?

chucknorris

wotsthat wrote: »

Well my bandwidth is wider than your bandwidth.

If you think a remote sub-forum with a total of 8 people who (you think) want prices to rise is trumped by another tumbleweed forum with 20 who want them to fall then you've lost all sense of reality.

You do realise it's a pretty strange hobby for people to argue about house prices on the internet in their spare time? 8 or 28 people makes no difference whatsoever - different shades of weirdness that's all.

Even more stranger when you consider that it doesn't even look as if he has any intention of buying (or have I got that wrong? I'm honestly not sure if he wants to eventually buy or not).

wotsthat

gadgetmind wrote: »

These HPC guys *are* sitting on their cash, aren't they? It's all there ready and waiting for the crash, isn't it?

It's difficult to tell. There seem to be three main groups..

1) The people who sold to rent because they thought a crash was coming and they could buy a better house for the same money in a few short months. These chaps are getting angrier by the day and I have zero sympathy.

2) The people who say they can afford to buy but are refusing to pay current market prices. Again getting angrier by the day and, on a good day, I can muster a little sympathy.

3) People who can't afford to buy unless prices fall and must be looking at the current market with some bemusement. I have some sympathy for this group but wonder why they seek the advise of people from the first two groups.

Like here though it's London and South-East focused. If it's raining on BBC TV centre it's raining everywhere.

wotsthat

chucknorris wrote: »

Even more stranger when you consider that it doesn't even look as if he has any intention of buying (or have I got that wrong? I'm honestly not sure if he wants to eventually buy or not).

I don't think he does either. Not quite sure why he's got such a thing about house prices or Aberdeen to be honest. If/ when there's a crash we might find out - I expect he'll be happy as Larry but sellers will remain just a little too deluded to persuade him to buy in.

Crashy_Time

chucknorris wrote: »

Most wealthy people do not store all of their wealth in cash (I realise that you don't actually know how foolish that would be), it makes much more sense to store it in a diversified portfolio of assets (property, shares, bonds etc.). I haven't got around to the bonds yet, but when I start selling some property, I will probably do so (bonds are not that appealing to me, but I accept that it makes sense to strive for the diversity that they offer), so property equity does not mean nothing (as you stated).

Don`t recall ever saying that wealthy people store all their wealth in cash? Instead of second guessing people on the internet your time would be better spent making sure you get your timing right for when you do actually sell and realise some equity, or you might be buying premium bonds, not government bonds ... :rotfl:

Crashy_Time

wotsthat wrote: »

Well my bandwidth is wider than your bandwidth.

If you think a remote sub-forum with a total of 8 people who (you think) want prices to rise is trumped by another tumbleweed forum with 20 who want them to fall then you've lost all sense of reality.

You do realise it's a pretty strange hobby for people to argue about house prices on the internet in their spare time? 8 or 28 people makes no difference whatsoever - different shades of weirdness that's all.

Nonsense, the housing Ponzi scam is one of the biggest heists in history and needs discussing. IMO HPC serves that purpose well, and regularly has hundreds of people viewing. You should feel glad that you are awake enough to be part of the discussion, many are not, and can only suck up their debts along with their regular dose of Facebook and Soaps.

Mistermeaner

So what's the answer then crashy?

If we work on the basis that you're right what should I / we / the man on the street do differently? What's your proposal to resolve whatever it is you think is wrong?

Ps you never commented on my experiences as a home owning equity building debt monkey. I'd be interested in your thoughts on my personal experience

gadgetmind

Mistermeaner wrote: »

If we work on the basis that you're right what should I / we / the man on the street do differently?

Probably nothing. We all know that stock markets correct and even crash from time to time, but equities are still a great investment. Even when capital values drop, even for decade+ periods, you still get dividend income. Similarly with a house, you either get income directly as rent, or indirectly by not having to pay rent.