No more boom and bust?

chucknorris

lisyloo wrote: »

I don’t know who is he referring is, but if he means us chuck then he’s totally wrong

The bit the crash trolls don’t seem to get (and I’ll name 2 - AG47 and crashyTime)

The other significant ones seem to have vanished (gineer, foxy, brit and carolt spring to mind, I've probably forgot quite a few). Foxy did return a few times with new ID's, but he was quickly spotted.

ukcarper

I think they must be young anybody who has been around as longs as I have will have see a few crashes.

chucknorris

ukcarper wrote: »

I think they must be young anybody who has been around as longs as I have will have see a few crashes.

You would think so, but Foxy was (I think) about 50, so although he was very young in the 70's, he was an adult through 2 significant corrections.

Out,_Vile_Jelly

I remember Brit123. Is he still on a "FTB strike" do you think?


To be fair, there were a couple of perma bull type posters such as AG47 gets worked up about, Mister Ree and someone who spelt !!!!! wrong and obsessed about the HPC website, but they were such ridiculous caricatures they were clearly trolls.


Edit: the dangerously offensive swear word blanked out is an old Arabic word for ghost/demon.

westernpromise

Out,_Vile_Jelly wrote: »

To be fair, there were a couple of perma bull type posters such as AG47 gets worked up about, Mister Ree and someone who spelt !!!!! wrong and obsessed about the HPC website

I recall the latter quite recently, but I don't recall his asserting that house prices will never go down. IIRC he was more of the view that prices can go down in the short term but beyond that they go up.

The single standout feature that most crashtrolls share, in my observation, is an inability to evaluate risks properly. You frequently come across crashtrolls who fulminate about paying £200k (or whatever) for a house and how horribly risky it is if 50% off by Xmas or whatever. You never come across one who compares the probability of that risk eventuating to the surefire cost of renting for forty years instead, which is the price of avoiding it.

Another example of incompetence with risk is Crashy's perpetual anxiety around what-if-I-buy-and-later-I-can't-sell. This is another simple probability problem: what is the likelihood of your house's value falling to nil, and what does renting cost? Not only does Crashy not think about this prospectively, he doesn't even understand it ex post. I think he genuinely doesn't get that what he's spent on rent in the last 23 years would have bought him his bedsit by now (plus most of another one).

Most people are not crashtrolls and most people do have some inkling of all this, which is why they buy. People are generally bad at assessing risks, and I wonder if crashtrolls are perhaps simply that slice of the population that is 6-sigma bad at it.

phillw

westernpromise wrote: »

I recall the latter quite recently, but I don't recall his asserting that house prices will never go down. IIRC he was more of the view that prices can go down in the short term but beyond that they go up.

Yeah that is my view as well. I know there have been some really deep crashes in the past when lenders went through mass repossessions and then selling houses cheap at auction. However regulatory changes mean that this is unlikely to repeat itself.

For a start the lenders have been told they can't just wait until you're back on your feet and then knock on your door for the short fall on the house they repossessed 20 years previously. That seems to have sharpened their mind a little.

If the conservatives manage to stay in power post brexit then they will probably try to deregulate the market to try to make a personal fortune for themselves, if that happens then I would reserve the right to change my view.

As an aside, I am not sure whether the £85k FSCS will survive either. If the EU can no longer force us to operate it.

AG47

.

I've followed a guy with the handle Daddy Dragon for a while now.
Long story short, he is a UK man that is an English constitutionalist.

He is currently involved in a crowd sourced court case against Theresa May et al. where the claim is that
England de facto has already left the EU the 29 March 2019 as stated in a law called the European Union Withdrawal Act 2018.

The upcoming court case (if approved) has received zero coverage in the UK mainstream media.
If the court case is accepted and heard he believes the case is so strong that the government will be forced to recognize this as fact.

It would be interesting to hear UK based members feedback to this info.

Links:
Daddy Dragon: Twitter: https://twitter.com/GrahamHmoore ; Youtube channel: https://www.youtube.com/channel/UCGc...CrlDDow/videos
The court case for those that enjoy reading law: http://robintilbrook.blogspot.com/20...-queen-on.html

51mm5

Hmm seems very right wing to me. It's very telling of the kind of views you hold.

AG47

51mm5 wrote: »

Hmm seems very right wing to me. It's very telling of the kind of views you hold.

But is it legal?

What will the court conclude?

51mm5

Not been any coverage on this so doubtful anything will come of it