Wise words for the HPC fans...

chucknorris

Jack_Johnson_the_acorn wrote: »

My 3 bed Mainsonette cost just under £130k.

We know you can't afford to buy a reasonably priced property but that doesn't mean people like me shouldn't buy. We could afford the property even if interest rates were above 10%, So stop talking nonsense about manipulated credit pushing up prices. It's not the fault of the posters on this forum that they happen to be living a more comfortable life than you, time to look at reality. :eek:

He is a funny sort of a troll isn't he, he actually leaves his 'victims' feeling happier about life, as their responses to him highlight some of the good things in their lives. I think he needs to go back to troll school and start over again, he is even failing at being a troll!

Jack_Johnson_the_acorn

chucknorris wrote: »

He is a funny sort of a troll isn't he, he actually leaves his 'victims' felling happier about life, as their responses to him highlight some of the good things in their lives. I think he needs to go back to troll school and start over again, he is even failing at being a troll!

A troll doesn't spend over 5 years expressing an idiotic opinion.

It's his actual opinion, he's spent so much time in the echo chamber that he can't allow himself to accept opposing points of view, it would destroy him to accept that me and many others on here are really comfortable in our lives. 10% interest rates would only make my mortgage £840pcm. Hardly the end of the world, but he still says i'm over-leveraged.... He's really, really deluded.:(

westernpromise

Jack_Johnson_the_acorn wrote: »

That thread was hilarious. The "Count" character sounds like he has well and truly lost it.

I feel like the most evil man on the planet for buying a home for my family. :rotfl:

"The Count" is a man who blew all his money in a casino while others stuck theirs in the building society and watched it double. As a result, he now wants building societies banned. If his speculative bets don't pay off, he thinks winning bets should be outlawed.

chucknorris

westernpromise wrote: »

"The Count" is a man who blew all his money in a casino while others stuck theirs in the building society and watched it double. As a result, he now wants building societies banned. If his speculative bets don't pay off, he thinks winning bets should be outlawed.

Did he sell to rent, or merely avoided buying, thinking that prices were too high?

lisyloo

Jack_Johnson_the_acorn wrote: »

He's really, really deluded.:(

If would be nice if we could move off one individual where there is a consencus he's totally deluded.
Discussing genuine issues if raised is fantastic but character assasination of one individual who isn't going to change their mind is making this forum less worthy of anyone time.

westernpromise

AIUI he sold in 2007 thinking a crash was imminent and that he'd soon pick up a bargain as a result. He chose to go short speculatively, a bet that has not just failed, but has essentially ruined him.

@ lisyloo

He's a useful and prolific exemplar of a type. That's why he's remarked on. He ticks most of the crashtroll definitional boxes. When we dissect him we dissect all crashtrolls.

I have noticed a lot of crashtroll rage is directed against sellers. They hate that if they buy, a seller would also benefit. Crashtrolls wants sellers to take their place on the losing side of the 10-year or 20-year bet. That's why TCON's made 30,000 posts to HPC and why Crashy's made thousands of posts to MSE all saying the same thing.

Anecdotally, I have noticed there is a high correlation between speculatively shorting property and being rather thick. It is, as Jack Johnson says, the Dunning Kruger Effect: stupid people don't realise they're stupid, because they are too stupid to do so. So they do stupid things while mistaking themselves for smart people because they're so stupid they mistake stupid decisions for clever ones.

One such stupid decision is to short a market imagining that you have the skills to time it, even though you rent in Northampton and make £32k a year working for a haulier or something.

One very smart bloke I know did this in the late 90s. He thought the market would stagnate or even come off a bit more, so he rented. He was a bit aghast at his position by 2001, so he just bit the bullet and bought, accepting that he'd called it wrong and should have done this several years before. 16 years on, the difference between what he paid in 2001 versus what he'd have paid in 1997 is just a rounding error in the 2017 value. Recognising this is how he demonstrated that he genuinely was smart. A stupider person would have dug in and defended the position until it became completely irrecoverable, like Crashy - who can be shooed from any thread just by asking him for an update on his BCR, I've noticed.

westernpromise

ilovehouses wrote: »

I can't imagine how I'd persuade my wife that we were going to sell and uproot the kids because I wanted to take a punt on house prices falling in the next few months. What I can imagine are the conversations about why we were still renting two months, 6 months, 10 years later. TCON must be single.

I thought about it in 2006 but just a brief play around in excel shows the asymmetry of the bet - the downside is worse than the upside and the longer the bet runs the less likely it is you'll win.

Yes. It's a bit like trading oil futures one lot at a time. If that's your scale of trading, then on today's $63 a barrel prices, you'll be buying it $66 and selling at $60. You could actually be right about the direction, but the cost of entry to (and exit from) the position is so high, the trade can never make money.

The cost of selling then buying back would be about 10% for me. I'd need a fall way beyond that to make money off selling to rent and who can time that? This is another thing crashtrolls don't get about how the longs think. If prices fall 5%, crashtrolls think owners have lost money, but as owners see it, if they had sold to rent, they'd have lost more.

Crashy_Time

lisyloo wrote: »

If would be nice if we could move off one individual where there is a consencus he's totally deluded.
Discussing genuine issues if raised is fantastic but character assasination of one individual who isn't going to change their mind is making this forum less worthy of anyone time.

:rotfl: Tell me you are joking please, this "forum" is the same four or so posters hammering away at anyone who is connected to the HPC website day after day after day, there are some (cough) "issues" to say the least. WP and the artificially low post count worries me the most, that is like an alcoholic hiding the bottles.......

westernpromise

Crashy_Time wrote: »

:rotfl: Tell me you are joking please, this "forum" is the same four or so posters hammering away at anyone who is connected to the HPC website day after day after day, there are some (cough) "issues" to say the least. WP and the artificially low post count worries me the most, that is like an alcoholic hiding the bottles.......

westernpromise wrote: »

Crashtrolls wants sellers to take their place on the losing side of the 10-year or 20-year bet. That's why TCON's made 30,000 posts to HPC and why Crashy's made thousands of posts to MSE all saying the same thing.

:rotfl::rotfl::rotfl::rotfl::rotfl:

How's your BCR looking, Crashy? Must be nudging 140% by now...

System

14,000 posts on HPC crashy, not sure you should draw attention to post counts.