HPC-TheCountOfNowhere

westernpromise

HPC is pretty much the antithesis of MSE.

MSE is about making your money serve you and studying how to make it go as far as it can. HPC is about being angry about what your money buys and at other people for being older than you, or for living in the south east,

Rich2808

westernpromise wrote: »

HPC is pretty much the antithesis of MSE.

MSE is about making your money serve you and studying how to make it go as far as it can. HPC is about being angry about what your money buys and at other people for being older than you, or for living in the south east,[/QUOTE

Aren't both sites about wanting the best deals, paying/wanting the lowest prices and not paying more for something than it is worth? The only difference is on here that logic doesn't seem to apply for anyone's biggest expense - their house!

Now anyone can come along and post how wonderful it is and how great they are and what insight they had about buying a house 15-20 plus years ago which has now risen in value hugely - just for doing little more than sitting on your settee. Maybe like Ebenezar Scrooge people here get great joy from counting up their paper wealth - but perhaps Bob Cratchitt with his young family stuck in a private rental because that's all they can afford deserve a chance too?

HAMISH_MCTAVISH

Rich2808 wrote: »

perhaps Bob Cratchitt with his young family stuck in a private rental because that's all they can afford deserve a chance too?

Build more houses then.

Because, as has been pointed out many times, you can't cure a housing shortage by crippling mortgage lending, which is what the HPC hive mind advocates.

All that happens is you worsen the housing shortage, prices rise anyway, rents soar to new record highs, and an entire generation is forced to buy houses for their landlords instead of themselves.

As has been proven by the last 7 years.

cells

mayonnaise wrote: »

He has dedicated a thread to himself, reaching the milestone of 20,000 posts.
http://www.housepricecrash.co.uk/forum/index.php?/topic/208145-20000-postsheres-what-i-have-seen/
And the HPC collective congratulate him on being wrong for the past 10 or so years. Madness. :rotfl:

Its like being a gambling addict you look back at how wrong you were but instead of saying 'what a fool I was' you double down and blame the game and await your win.

cells

The wiz kids in the city need to sell house price crash insurance. Maybe then some of the kooks will finally stop wasting years of their lives and buy in

The insurers would make a killing. Charge £500 per year and pay out the difference if an insured person sells for more than 5% less than they bought after 10 years of ownership. Done on surveyor valuations to avoid cheats

Rich2808

HAMISH_MCTAVISH wrote: »

Build more houses then.

Because, as has been pointed out many times, you can't cure a housing shortage by crippling mortgage lending, which is what the HPC hive mind advocates.

All that happens is you worsen the housing shortage, prices rise anyway, rents soar to new record highs, and an entire generation is forced to buy houses for their landlords instead of themselves.

As has been proven by the last 7 years.

I would suggest the last few years have proved the opposite - prices were going no where until Osborne rolled out help to buy/FLS etc post 2011-12.

We are building loads of new build flats in London - oddly it doesn't seem to be pushing the prices down but the prices up.

Ireland and Spain had a huge excess supply of property in 2006 and 2007 - the prices only collapsed when the banks stopped lending. Now banks are willing to lend silly sums again - the prices are going up again.

If no one will lend the money people cannot afford the highee prices - no matter how many/few people there are wanting them.

cells

Rich2808 wrote: »

I would suggest the last few years have proved the opposite - prices were going no where until Osborne rolled out help to buy/FLS etc post 2011-12.

We are building loads of new build flats in London - oddly it doesn't seem to be pushing the prices down but the prices up.

Ireland and Spain had a huge excess supply of property in 2006 and 2007 - the prices only collapsed when the banks stopped lending. Now banks are willing to lend silly sums again - the prices are going up again.

If no one will lend the money people cannot afford the highee prices - no matter how many/few people there are wanting them.

Ireland has a housing shortage

The number of new builds needed in London is at least 60,000 whereas new build rates are running at about 1/3rd that figure

Also in London some of the big builds are not so big when you realise to build those 1000 new flats 500 social homes were knocked down to make space for it

ruggedtoast

mystic_trev wrote: »

Interesting thread and a great insight to the mentality of the people who frequent HPC.

Let's face it, anyone who STR'd in 2005 and hasn't bought since, has got to be completely barking.

I have to admit to quite enjoying watching them get angrier and more disillusioned as another year passes.

HPC.com Being wrong since 2003

HAMISH_MCTAVISH

Rich2808 wrote: »

I would suggest the last few years have proved the opposite - prices were going no where until Osborne rolled out help to buy/FLS etc post 2011-12.

That HPC meme is simply untrue.

Prices have soared since the crash, both before 2011 and after it...



Despite lending continuing to be crippled and at volumes less than 2/3rds historical averages.... And with virtually no uptick in lending volumes during 2011/12.



Meanwhile rents, which are unrelated to borrowing, have also soared to new record highs....



And unsurprisingly, given there is a lack of mortgage finance, new building has fallen off a cliff and the housing shortage continues to worsen.

If no one will lend the money people cannot afford the highee prices - no matter how many/few people there are wanting them.

If mortgage lending is restricted property consolidates in the hands of the wealthy, new building falls to 100 year lows, rents soar, prices rise anyway, and an entire generation is forced to buy houses for other people rather than themselves.

As we have seen...;)

mwpt

HAMISH_MCTAVISH wrote: »

If mortgage lending is restricted property consolidates in the hands of the wealthy, new building falls to 100 year lows, rents soar, prices rise anyway, and an entire generation is forced to buy houses for other people rather than themselves.

As we have seen...;)

So what we really needed was excess mortgage lending, massive over construction and the subsequent large price correction. ie. Spain, etc.

I guess I could go for that, just let me know when it's all over and the country if !!!!3d so I can return to buy a cheap house.