The Next Nail in the Coffin

chucknorris

economic wrote: »

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.

I don't understand why are you attempting to explain this to me? The reason that I responded to you, was that you were saying that my success was down to luck. I was offering a different scenario, I'm not sure what you are trying to say?

economic

chucknorris wrote: »

I don't understand why are you attempting to explain this to me? The reason that I responded to you, was that you were saying that my success was down to luck. I was offering a different scenario, I'm not sure what you are trying to say?

what im trying to get at is that the decision i made today is probably a similar decision you had to make 30 odd years or whenever you were buying (or thinking of selling) properties - the decision whether to buy or not or sell or not. the point is i have analysed to death whether i am making the right decision but i have no idea what the future will bring and whether i made the right deicision or not. luck has a lot more to do with it then you may think. being at the right place at the right time.

cells

chucknorris wrote: »

I don't understand why are you attempting to explain this to me? The reason that I responded to you, was that you were saying that my success was down to luck. I was offering a different scenario, I'm not sure what you are trying to say?

The whole of life is about chance

Most peoples success good or bad is down to chance.
If you lived your life over 100 times you would be in 100 different places. You would also likely find that even those 100 versions of you were different in the way they think and behave and what they like and do let alone the impact on a persons wealth

So yes your wealth your health your mind itself is down to chance

economic

cells wrote: »

The whole of life is about chance

Most peoples success good or bad is down to chance.
If you lived your life over 100 times you would be in 100 different places. You would also likely find that even those 100 versions of you were different in the way they think and behave and what they like and do let alone the impact on a persons wealth

So yes your wealth your health your mind itself is down to chance

couldnt have put it better myself.

westernpromise

20 years ago there was no shortage of people to tell you property was about to crash again. Those whio bought in 1996 took on a risk in doing so, given that there was widespread and voluble negative sentiment around property just 7 years after the start of an epic crash.

The same crashtrolls are now telling the same owners that they took no risk at all and were just lucky. After 20 years of hearing this, you tend to discount the views of such people.

economic

i never said no risk was taken. just that it was lucky those who bought, bought.

chucknorris

cells wrote: »

The whole of life is about chance

Most peoples success good or bad is down to chance.
If you lived your life over 100 times you would be in 100 different places. You would also likely find that even those 100 versions of you were different in the way they think and behave and what they like and do let alone the impact on a persons wealth

So yes your wealth your health your mind itself is down to chance

With respect, that is total b*llocks, we all have the opportunity to control our own destiny. But obviously luck plays some part in all our lives, but very rarely is it the whole story.

chucknorris

economic wrote: »

couldnt have put it better myself.

Yeah, but you'd also be wrong.

economic

chucknorris wrote: »

With respect, that is total b*llocks, we all have the opportunity to control our own destiny. But obviously luck plays some part in all our lives, but very rarely is it the whole story.

its not the whole story but its certainly a big part. theres an element of bias as well with our views as clearly you have done well out of property and would attribute this less to luck and more to skill.

i haven't done as well (athough i am roughly half your age) and based on my experiences i would say luck is a big part (although certainly not the whole part).

economic

westernpromise wrote: »

20 years ago there was no shortage of people to tell you property was about to crash again. Those whio bought in 1996 took on a risk in doing so, given that there was widespread and voluble negative sentiment around property just 7 years after the start of an epic crash.

The same crashtrolls are now telling the same owners that they took no risk at all and were just lucky. After 20 years of hearing this, you tend to discount the views of such people.

ill be interested to know what your views are on the london property market in terms of where prices go from here and also in highgate (which i know you own a property in, as do i). thanks