My favourite video EVER!!

westernpromise

Crashy's in his 50s, I believe.

He needs a price crash of well above 100% to be better off for having rented for 20 years.

caronoel

westernpromise wrote: »

Crashy's in his 50s, I believe.

He needs a price crash of well above 100% to be better off for having rented for 20 years.

And still single?

He would be such a good catch for any lucky woman!

GreatApe

I think most peoples decisions are made for them due to life circumstances its only the very rare who have the power to choose and choose obviously crap choices like that financial planner on hpc that sold in London in the early 2000s

I reckon crashy probably was never in the situation to buy and so are many other hpc-ers so I feel sorry for them. They are not shorting property speculatively they simply haven't had the means to buy and have collectively found each other on the internet to comfort each other. As evidence for this I see often over there they quote stats that are wrong, like quoting average wage which includes part timers and kids to compare to house prices or completely ignoring the huge £200 billion annual transferred from old to younger

What a younger hpc-er needs to do is avoid that website and work on improving their lot in life be that by aiming to get a better job or up skilling or trying to get a council house or even trying to find a partner to couple up with who has had a better lot in life. That advise is probably too late for mr crasy but there must be versions of him in their 20s on that silly site. Hell even giving up that site and using the time to do some sports or read proper books would do them a world of good

chucknorris

GreatApe wrote: »

I think most peoples decisions are made for them due to life circumstances its only the very rare who have the power to choose and choose obviously crap choices like that financial planner on hpc that sold in London in the early 2000s

I reckon crashy probably was never in the situation to buy and so are many other hpc-ers so I feel sorry for them. They are not shorting property speculatively they simply haven't had the means to buy and have collectively found each other on the internet to comfort each other. As evidence for this I see often over there they quote stats that are wrong, like quoting average wage which includes part timers and kids to compare to house prices or completely ignoring the huge £200 billion annual transferred from old to younger

What a younger hpc-er needs to do is avoid that website and work on improving their lot in life be that by aiming to get a better job or up skilling or trying to get a council house or even trying to find a partner to couple up with who has had a better lot in life. That advise is probably too late for mr crasy but there must be versions of him in their 20s on that silly site. Hell even giving up that site and using the time to do some sports or read proper books would do them a world of good

But he did previously own a house! He was one of the first 'sell to renters', although it wasn't because he forecast a crash and wanted to profit from it. It was because he had been in negative equity for a few years (in the late 80's/early 90's crash) and was obviously (and understandably) freaked out, to such an extent, that when prices recovered he immediately sold. That was the the mid to late 90's, so he missed out badly, but it explains his negativity to house ownership (in a way).

Jack_Johnson_the_acorn

chucknorris wrote: »

But he did previously own a house! He was one of the first 'sell to renters', although it wasn't because he forecast a crash and wanted to profit from it. It was because he had been in negative equity for a few years (in the late 80's/early 90's crash) and was obviously (and understandably) freaked out, to such an extent, that when prices recovered he immediately sold. That was the the mid to late 90's, so he missed out badly, but it explains his negativity to house ownership (in a way).

Basically he's scared of the risk of losing money if he buys. So instead he guarantees himself a loss by renting.

It's horses for courses.

sabretoothtigger

It doesnt have to be a loss but for most people having your own house is best.
If he sells and gains cash but must rent then he better be doing something amazing with that cash.

It is possible he is a whizz with cash, investing and putting it to good use. He might operate a profitable business who knows but for joe bloggs, being your own landlord is the best use of capital over time it seems.

Plus UK tax law favours this, does not encourage small business, etc.

Its not all down to one guys arrogance, in some part he was correct but the system we have has led to house price inflation.

If he was all the way bearish and put that cash in 2004 into gold. He probably is fine I guess, depends just how far down the rabbit hole he went with all this.
We have the paradigms of old sterling standard vs the new normal which is near zero interest rates and politics biased economics.

Sapphire wrote: »

Eh? Really? Doesn't look like it from where I'm standing, with people engaging in profligate spending on things (expensive things) they really do not need…:D

Thats credit expansion which is related to QE and so on.


[ Found a couple of graphs. A price for anything is never just one price, its the price of what you sell and the price of what you buy. So he sold the house, bought Sterling. He could always go and buy Yen cash or my suggestion some proportion of gold sovereigns, the old sterling cash.
Im watching the video, I never see anybody say I'm bullish on sterling or I think cash will give a good return. So it appears an unbalanced argument, flawed

Just having the house is far simpler and less risky I think and of course, useful! ]

Thrugelmir

Crashy_Time wrote: »

If that is your favourite video you maybe need to get some bigger dreams?

Needs Emmanuelle to make an appearance. :cool:

HPC_Ghuol_Hunter

I don't think Crashy is a bad egg. More a deluded simplton who fell for the HPC goon propaganda. Most likely highly susceptible to persuasion and ignorance.

caronoel

HPC_Ghuol_Hunter wrote: »

I don't think Crashy is a bad egg. More a deluded simplton who fell for the HPC goon propaganda. Most likely highly susceptible to persuasion and ignorance.

He has been awfully quiet of late, particularly on this thread.

If the likes of him an 40-somethings like brit1234 decide to buy anytime soon, then that would be the ultimate sell signal for me!

:rotfl::rotfl::rotfl:

chucknorris

ilovehouses wrote: »

My understanding is Crashy sold up in the late nineties because he was having a bad time of some sorts. He found HPC later and it post justified his decision of a few years earlier.

I think a crash would scare him to death as he'd have to think of other reasons not to buy.

That's also my understanding, as far as crasholics go, Crashy was a pioneer, he probably started more than 5 years before the hpc website was up and running, just as the boom that lasted more than a decade had also started, his timing was about as bad as it gets.