How low will property go?

Crashy_Time

kinger101 wrote: »

Microscopic clown collective? Complete and utter drivel.

Most people just want a home they can afford, and which they'll eventually own. In case you hadn't noticed, pensions in the UK aren't brilliant, so not having to pay rent until the day you die is good retirement planning. They also want some security of tenure, and not to have to ask permission to do basic things like own a pet or paint a wall blue.

You only really expose yourself to losses on property if you sell in the short-term in a falling market. Even if you bought a house 10 years ago and it's worth the same price today, you'd have a good chunk of equity from paying off the mortgage. For example, if I bought a house for £150K with a £135K mortage, even at 4% I'd now have about £55K of equity instead of £15K. Even falls in prices don't matter within the same geographical region. In fact, they make upsizing cheaper.

But rather than look at the realities, it's better to string three random words together to make a non-nonsensical insult isn't it. Because you're part of the intergalactic dimwit circus.

The problem with your narrative is that people and banks having little or no exposure to property losses does not square with the massive central bank intervention that has gone on for the past few years :rotfl: You need to have a re-think IMO.

chucknorris

Crashy_Time wrote: »

But you have been pontificating on here for years every day about whether or not to sell up? Thought you had a team of guys that did your repairs and management for you, you should have with all those millions, so why is it a hassle? You either want to keep the income stream or you don`t, why the drama? Warren Buffet is much older and richer than you and seems to able to enjoy himself and the use of all that money, why are you so conflicted about how to spend your money/time :rotfl:Start giving it away to good causes mate, you will feel much better inside.

I have always made it clear when I would sell, and that is when dividend income from the equity catches up with the current net rental income, how many times have I told you that now? I have lost count.

What drama, what conflict? There isn't any drama, and I am not conflicted, and I am perfectly content, maybe you are projecting your own dramas/conflict onto me.

Crashy_Time

chucknorris wrote: »

I have always made it clear when I would sell, and that is when dividend income from the equity catches up with the current net rental income, how many times have I told you that now? I have lost count.

What drama, what conflict? There isn't any drama, and I am not conflicted, and I am perfectly content, maybe you are projecting your own dramas/conflict onto me.

The point you miss is that you can`t just "cash out" of property at a price level that suits you though, certainly not in this environment, as I said to you many many times you have missed the sweet spot by not anticipating the changes that are going on around you.

chucknorris

Crashy_Time wrote: »

The point you miss is that you can`t just "cash out" of property at a price level that suits you though, certainly not in this environment, as I said to you many many times you have missed the sweet spot by not anticipating the changes that are going on around you.

We can sell when we want, we are actually putting my wife's house on the market this week, she bought it for £110k (no mortgage) in the 90's and she is probably selling it for over £1m. It looks like the equity will be over £900k, after paying the CGT and the estate agents fees.

How many times do I have to tell you, that income is the focus, not capital value, you are really obsessed with house prices aren't you.

kinger101

Crashy_Time wrote: »

The problem with your narrative is that people and banks having little or no exposure to property losses does not square with the massive central bank intervention that has gone on for the past few years :rotfl: You need to have a re-think IMO.

Perhaps you just need to think. I have not idea what you're trying to say from your garbled sentence, but I'm quite clear that I have some exposure while I have a mortgage, but it's only really likely to be significant in the very early years. I've accepted that level of risk as it outweighed the alternative of paying rent for the rest of my life.

Perhaps some people really choose to rent when they could buy. But I think you regret your decision not to buy given you invest so much time posting half-baked pseudo-economic gobbledygook on this forum. It doesn't convince the vast majority on here, so you can only be preaching to yourself.

Jack_Johnson_the_acorn

chucknorris wrote: »

We can sell when we want, we are actually putting my wife's house on the market this week, she bought it for £110k (no mortgage) in the 90's and she is probably selling it for over £1m. It looks like the equity will be over £900k, after paying the CGT and the estate agents fees.

How many times do I have to tell you, that income is the focus, not capital value, you are really obsessed with house prices aren't you.

I think he is indirectly obsessed with house prices (because he will never buy into a ponzi ), What I mean by that is he just wants other people to lose out like him, every post of his is full of bitterness and vitriolic hatred towards those that are "more successful", he is desperate, hence the constant stream of negative posts that he pollutes the forums with on daily basis.

Oh well. Enjoy your Sunday.

chucknorris

Jack_Johnson_the_acorn wrote: »

I think he is indirectly obsessed with house prices (because he will never buy into a ponzi ), What I mean by that is he just wants other people to lose out like him, every post of his is full of bitterness and vitriolic hatred towards those that are "more successful", he is desperate, hence the constant stream of negative posts that he pollutes the forums with on daily basis.

Oh well. Enjoy your Sunday.

Yeah I think that too.

Thanks, we are just waiting for it to get past the warmest part of the day, so that we can go out on our bikes with our dog. It is a bit too warm for him at the moment to be running after us on our bikes (I'll be jogging part of the route too).

wotsthat

Crashy_Time wrote: »

The point you miss is that you can`t just "cash out" of property at a price level that suits you though, certainly not in this environment, as I said to you many many times you have missed the sweet spot by not anticipating the changes that are going on around you.

By taking your own advice you've lived in a series of £450/ month flats, houseshares & HMO's, none of which have been nice enough that you'd buy.

You also need to remember you sold your house in the late nineties and have rented ever since. You've spent much longer than your time on here suggesting 'now' is the time to buy.

It's not much of a CV when attempting to give financial advice to millionaires or suggesting when the sweet spot for selling property is.

chucknorris

wotsthat wrote: »

By taking your own advice you've lived in a series of £450/ month flats, houseshares & HMO's, none of which have been nice enough that you'd buy.

You also need to remember you sold your house in the late nineties and have rented ever since. You've spent much longer than your time on here suggesting 'now' is the time to buy.

It's not much of a CV when attempting to give financial advice to millionaires or suggesting when the sweet spot for selling property is.

You just couldn't make it up to be more ironic than that could you?

Jack_Johnson_the_acorn

wotsthat wrote: »

By taking your own advice you've lived in a series of £450/ month flats, houseshares & HMO's, none of which have been nice enough that you'd buy.

You also need to remember you sold your house in the late nineties and have rented ever since. You've spent much longer than your time on here suggesting 'now' is the time to buy.

It's not much of a CV when attempting to give financial advice to millionaires or suggesting when the sweet spot for selling property is.

Wow.... he sold in the nineties!! What an amazing job he did of missing the boat.

But of course, we should all listen to him when he predicts the future of house prices. No wonder he is so bitter. I never knew he actually sold his property to rent. That's too funny.

All his posts make perfect sense now.