The Next Nail in the Coffin

mwpt

Conrad wrote: »

I don't just mean LL's, I mean the sorts of ordinary people that have got on and bought a home without years of quivering in a corner fretting about potential crashes.


I find property bears detest it when their 'happy go lucky' friends 'blindly' risk buying a home and then find they've made a packet on it

Do you ever stop to wonder why or how it feels? There is a lot to be angry about with the UK housing market imo, particularly when you perceive the previous over-extended foolish who took prices away from you in the first place were bailed out. On top of that, the younger generation who never knew the good time years, who are now priced out of decent home ownership, must also enjoy austerity, which exists because of the boom-bust housing market and the bailouts.

westernpromise

Conrad wrote: »

Have you noticed their intense hatred of 'smug' couples appearing on property shows such as A Place In The Sun, with chunky money to spend?

There is a whole litany of standard insults for people they hate to the point where they are effectively one word. As well as "smug couples" there are also gems such as "thick BTLers", "corrupt bankers", "HPI forever", and so on.

It's important to demonise people so you feel better about hating them.

jimibaboza

http://www.thedailymash.co.uk/news/society/britain-rallying-round-buy-to-let-landlords-20160401107696

cells

mwpt wrote: »

Their deposits were "wiped out". Creditors (depositors) took a haircut in the form of QE destroying the value of their deposits and rate slashing destroying the yield. The indebted property owners enjoyed the windfall. I know you can't help the Pavlovian response to disagree with me but please don't make me run round in circles to fix up your usual illogic.

There has been no real inflation wiping out the value of depositors

In fact for most depositors who are lazy its better now getting 0% with inflation at 1% than getting 0% with inflation at 3.5%

It has not really been a case of winners and losers in the UK neither debtors nor creditors lost.

cells

mwpt wrote: »

Do you ever stop to wonder why or how it feels? There is a lot to be angry about with the UK housing market imo, particularly when you perceive the previous over-extended foolish who took prices away from you in the first place were bailed out. On top of that, the younger generation who never knew the good time years, who are now priced out of decent home ownership, must also enjoy austerity, which exists because of the boom-bust housing market and the bailouts.

you are having your brain chemistry worked on by the hpc group think

Firstly and most importantly, house prices in half the country are about one third cheaper in real terms than they were ten years ago so stop talking like its a national think. So stop posting 'UK Housing Market' when what you mean is the London and to a lessor extend the SE housing market'

austerity was not caused by the bust. largesse was caused by the boom in financial services and capital management plus oil/gas output back in 2007 was a good deal higher. Neither can be blamed positively or negative to house prices they simply had nothing to do with house prices. or maybe you would like to explain how the uk oil output is linked to hose prices or how private equity managing assets in other parts of the world are linked to house prices?


Also you might need to look into a mirror to see what the cause of high house prices in London is. Are you not a foreigner who bought in London not long ago? You are more than welcome in my books to do that. But stop blaming landlords for high prices when its demand (you) concentrated mostly in London (you).

chucknorris

economic wrote: »

i think theres a lot of luck involved with what Chuck did. nothing smart about buying properties to let at the start and during the biggest real estate boom in uk modern history.

It is very strange, but do you know what? The more that I analyse potential investments, before actually investing, the luckier that I seem to get with their success, it's almost as if the two things were somehow connected.

EDIT: A bit like it was for Tony Jacklin (who I stole the quote from) and his golf.

wotsthat

mwpt wrote: »

Their deposits were "wiped out". Creditors (depositors) took a haircut in the form of QE destroying the value of their deposits and rate slashing destroying the yield. The indebted property owners enjoyed the windfall. I know you can't help the Pavlovian response to disagree with me but please don't make me run round in circles to fix up your usual illogic.

You are funny. Where did the indebted get their loans money from?

A depositor who had £200k still has £200k. They were bailed out and are £200k up on where they would have been - very different to your assertion that they've been wiped out or QE has destroyed the value of £200k in the intervening years.

You'd think they'd be happy but they seem a bit disgruntled the money for nothing's dried up. Maybe they ought to reflect that 2% on £200k is considerably more than 5% on F all.

mwpt

cells wrote: »

There has been no real inflation wiping out the value of depositors

In fact for most depositors who are lazy its better now getting 0% with inflation at 1% than getting 0% with inflation at 3.5%

It has not really been a case of winners and losers in the UK neither debtors nor creditors lost.

QE devalued savings by about 30-40%. Yield was slashed too. I think you know full well that people with a lot of property debt have done very well out of the GFC, it is announced on here often enough by various people.

economic

chucknorris wrote: »

It is very strange, but do you know what? The more that I analyse potential investments, before actually investing, the luckier that I seem to get with their success, it's almost as if the two things were somehow connected.

EDIT: A bit like it was for Tony Jacklin (who I stole the quote from) and his golf.

i sold my flat to buy in another area. i guess time will tell if i did the right thing. i analysed my situation a lot and came to the conclusion it wasnt worth it for 4% yield. there was no "alpha" in terms of capital appreaciation either. and didnt want a large part of my net worth in illiquid assets considering i am buying another flat to live in.

cells

mwpt wrote: »

QE devalued savings by about 30-40%. Yield was slashed too. I think you know full well that people with a lot of property debt have done very well out of the GFC, it is announced on here often enough by various people.

How did QE devalue savings by 30-40%?

Yields have gone down pretty much globally on all assets something of a trend which has been going on since ~1990

Yes people with property IN LONDON and to a lessor extent in the SE have done well. But thats like looking at someone who bought apple shares and scorning them that they have done well and that all shareholders have done well. In about have the country property costs about 1/3rd less in real terms than it did a decade ago. And according to you, because of QE, rates are now lower too so on top of the 1/3rd off they also have cheaper mortgages.


People with property have not done well because of the GFC they were doing just fine before it. They have done well because of you and people like you who have come to London from outside of this country and bid up rents and prices.

Now I will repeat once more, in my books you are welcome to come and live in London or in stoke or anywhere else in England you please. But you chose to come to the uk, to live in London and you bought a house in London. High house prices if anyone is to blame look into the mirror and stop blaming everyone else