Debate House Prices


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A hedge, just in case

24

Comments

  • lisyloo
    lisyloo Posts: 29,998 Forumite
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    triathlon wrote: »
    You seriously do not know what you are talking about, prices could drop a decade plus and I still would be making a massive profit boy :)

    I agree with crashy :eek: that you are too late but I’d say 6 months not 2-3 years.
    I accept that you’ll make a massive profit but you have to sell them first ! and right now houses are quite illiquid as people are holding off due to brexit.
    Of course you could take a haircut but 6 months ago you wouldn’t have needed to so that.
    As an experienced landlord I would have thought you’d know you can’t just liquidise them at will (pun intended) :T:T
  • lisyloo wrote: »
    I agree with crashy :eek: that you are too late but I’d say 6 months not 2-3 years.
    I accept that you’ll make a massive profit but you have to sell them first ! and right now houses are quite illiquid as people are holding off due to brexit.
    Of course you could take a haircut but 6 months ago you wouldn’t have needed to so that.
    As an experienced landlord I would have thought you’d know you can’t just liquidise them at will (pun intended) :T:T[/QUOTE

    I could put my first ever two rentals on the market for more than -70% from all time peak and still make a good profit. I am prepared to take a small haircut, but not just yet, will get both properties on the market first and then see what happens in first few weeks before I do anything rash like drop the price 5%.
  • Crashy_Time
    Crashy_Time Posts: 13,386 Forumite
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    triathlon wrote: »
    You seriously do not know what you are talking about, prices could drop a decade plus and I still would be making a massive profit boy :)


    You would still need a buyer to make any profit, and it possibly (probably?) won`t be another landlord? We are always being lectured on here about how mortgage credit will dry up and people won`t able to buy if prices really drop, and that this scenario will be accompanied by a massive recession that would further dampen sentiment presumably? The sweet spot was before the Fed started raising rates, before China wobbled and while people still believed that Brexit would be "cancelled" IMO.
  • AnotherJoe
    AnotherJoe Posts: 19,622 Forumite
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    triathlon wrote: »
    You seriously do not know what you are talking about, prices could drop a decade plus and I still would be making a massive profit boy :)

    I think you missed the point. Which was To make the best of it you should have sold much earlier, not now when the fearmongering is at its highest and possible Brexit price falls are at least partially priced in.
  • You would still need a buyer to make any profit, and it possibly (probably?) won`t be another landlord? We are always being lectured on here about how mortgage credit will dry up and people won`t able to buy if prices really drop, and that this scenario will be accompanied by a massive recession that would further dampen sentiment presumably? The sweet spot was before the Fed started raising rates, before China wobbled and while people still believed that Brexit would be "cancelled" IMO.

    You business, economic and understanding of human behaviour is probably the one biggest reasons that has kept you in that bedsit for all these years
  • AnotherJoe wrote: »
    I think you missed the point. Which was To make the best of it you should have sold much earlier, not now when the fearmongering is at its highest and possible Brexit price falls are at least partially priced in.


    I have that statement as far back as 2003 and probably for the 1000th time
  • Thrugelmir
    Thrugelmir Posts: 89,546 Forumite
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    triathlon wrote: »
    I have that statement as far back as 2003 and probably for the 1000th time

    Why has Brexit triggered a desire to sell then? I suspect that few people realise the point that was reached in October 2008. The consequences of which are still influencing events today.
  • Crashy_Time
    Crashy_Time Posts: 13,386 Forumite
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    triathlon wrote: »
    I am far from totally selling up, just want some more security in cash.


    Why have you not already got this, if you have been a landlord for years? You should have had all the "security in cash" you will ever need years ago.
  • Crashy_Time
    Crashy_Time Posts: 13,386 Forumite
    10,000 Posts Seventh Anniversary Name Dropper
    triathlon wrote: »
    You business, economic and understanding of human behaviour is probably the one biggest reasons that has kept you in that bedsit for all these years


    Let us all know how you get on (I`m sure you will) ;)
  • MobileSaver
    MobileSaver Posts: 4,311 Forumite
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    Way too late, the time to sell was just before the Brexit vote

    More expert financial advice from Crashy; the time to sell was two and a half years ago even though average selling prices have risen almost 5% since then! :rotfl:
    Every generation blames the one before...
    Mike + The Mechanics - The Living Years
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