What would cause negative HPI in London

MJ12

Alien invasion.

Sapphire

MJ12 wrote: »

Alien invasion.

Oh, I'd forgotten about that one.

Also:

The Sun goes super nova.

The Moon falls on the Earth.

The Earth's core explodes when a certain individual tries to build a basement to his London property – one that extends to Australia.:eek:

TheCountofNowhere

Idiots paying top price for a london house when prices are crashing around them. Wake up.

padington

TheCountofNowhere wrote: »

Idiots paying top price for a london house when prices are crashing around them. Wake up.

Up 8.06% around me in last 12 months.

chucknorris

padington wrote: »

Up 8.06% around me in last 12 months.

I've not noticed prices going up in Battersea (SW11) for a while, but they surged so much since 2009 I'm not complaining.

MobileSaver

chucknorris wrote: »

When was that website started? It must be a few years more than a decade by now?

Yes, you're right, HPC started in 2003 so over 12 years ago. Mind you a certain poster over there has been getting it wrong for even longer!

TheCountOfNowhere_on_HPC wrote:

the prices are mental and it is going to collapse ... none of them think it will last ... it's lasted 14 years more than I thought possible

Ooops, average house prices up 215% since TheCountOfNowhere predicted a crash.

TheCountofNowhere wrote: »

Idiots paying top price for a london house when prices are crashing around them.

No, the idiots are those who believed the HPC propaganda, didn't buy when they could and so have probably made the worst financial decision of their entire lives.

House prices would need to crash by 50% just to get back to where they were when those ill-fated decisions were made. That's never going to happen.

wotsthat

TheCountofNowhere wrote: »

Idiots paying top price for a london house when prices are crashing around them. Wake up.

I suggested the hand wringers who worry about the damage of high house prices should sell their own houses for whatever they think a reasonable price. As expected it fell on deaf ears - people, despite the faux concern, only seem to think other peoples houses are too expensive and buyers, of course, are ever willing to bid up prices.

Can you imagine being one of the mugs who really wanted to buy and were able but shorted property instead and funded the bet by paying rent? It's always seemed an odd gamble to me.

westernpromise

MobileSaver wrote: »

Yes, you're right, HPC started in 2003 so over 12 years ago. Mind you a certain poster over there has been getting it wrong for even longer!



Ooops, average house prices up 215% since TheCountOfNowhere predicted a crash.



No, the idiots are those who believed the HPC propaganda, didn't buy when they could and so have probably made the worst financial decision of their entire lives.

House prices would need to crash by 50% just to get back to where they were when those ill-fated decisions were made. That's never going to happen.

And even if it did, the crash trolls of HPC would still be down on the deal because in the intervening time they've been paying rent whereas homeowners have been paying off debt at very cheap rates.

HPC and its predecessor avant la lettre, uk.finance on Usenet, illustrate something quite pernicious about the internet. You can have the most far-out hobby or the most whack job opinions imaginable but the internet will offer a place, somewhere, where everyone thinks like you do. In consequence, you mistake your whack job views and attitudes for sanity and normality becaue they're constantly being echoed by other whack jobs. You end up mistaking yourself for a financial genius and shrewdly not buying London property in 1996 because it's going to crash, or not buying Oxford property in 2002 because it's expensive compared to Bootle and doesn't have such nice views. Before you know it you are 20 years older and you have bungled the most important financial call of your life.

I have some sympathy with those too young to have done this but not all that much. Every generation is richer than its predecessors and the reason property was cheaper in the past was because we were all so poor.

The essence of HPC's problem is that its denizens treat home buying as a speculation in which money can be made by careful timing. The people they are angriest with are people who made no such speculation but who instead thought "Do I want to live here for 40 years?" and then did so; and people who thought "Will this rent for more than it costs?" and bought accordingly. The HPC mindset is to overpay for the house via rent and hope for the worst (but for others) so that they themselves can later buy the house for less than it costs today.

The poor old Count is a daily spectacle of unedifying, vinegary resentment at other people for being smarter and hence more prosperous than himself. I'm actually quite surprised he isn't a burglar - it's the same mindset.

chucknorris

BobQ wrote: »

The question was what would make it happen not whether it was likely.:D

But considering the probability of the events is the next logical step, you don't have to necessarily allow the question to limit your thought process.

TheCountofNowhere

The attacks are just brutal. My hobby is house prices and the economy, yours appears to be abusing people on the Internet.