I just want to hear one of them admit they called the property market so badly

Zero_Sum

Where i live, we're still waiting for the recovery from 2008

Arklight

Why don't you go where "one of them" are then; and stop spamming this forum?

triathlon

westernpromise wrote: »

Completely miscalling the market explains the Count of Nowhere's rage. He sold to rent in September 2007:
https://forums.moneysavingexpert.com/discussion/comment/7307895#Comment_7307895

He then missed the window to buy back in, through sheer greed for a still-lower price presumably, and still hasn't done so. I don't know where in Northampton he lived, but prices have gone up 46% since mid-2009 and he's blown 12 years of rent.
https://www.zoopla.co.uk/house-prices/browse/northampton/?q=northampton

What makes me really queasy about crashtrolls' personal stories - Crashy's 130% BCR, TCON paying rent for 12 years - is that in the greedy attempt to time the market, these guys end up spending much of the duration of an entire mortgage term renting - and end up with nothing. If they'd been less greedy but also less shortsighted, they would have thought ahead over proper timescales, recognised this risk given that buying a house isn't like waiting for the January sales to buy your TV, and gone ahead and paid the price 12 or 23 years ago.

Nobody will admit they called it badly because to do so would involve admitting that they have ruined their own lives through greed.

Me trying to call them out is just a fraction of the open trolling they do in hundreds of blogs, websites and media HYS forums, hoping that they will turn the rest of the UK into the way they think, 20 years they have tried now
The count is just one of hundreds, he is not the worst by far, they are on this very thread now, some even pretending now that they own homes and that they are trying to bring the market down for their fellow man :rotfl:

It is not just the property market where you see this behaviour, you get everywhere, some takes a stance and over years and decades they are proven wrong, yet they continue to change the whole world rather than change their failed stance.

Anyway I am up nice and early on this wonderful sunny day, sat in my wonderful paid for kitchen over looking the countryside and hills drinking fresh coffee. I am just going to have a drive around a few properties this morning and make sure grass is being cut and some of my more potentially troublesome tenants are behaving and looking after my homes.

All I can say to those who have all their hopes now with HPC.com, how could so many of them who have an obvious interest in property miss out on one of the greatest, easiest get rich schemes in UK history, it really has been so easy

Happy Sunday everyone

triathlon

Hectors_House wrote: »

I used to read the house price threads/forums daily.

I could understand the anger but thought the crash folks were hoping for would only come about off the back of a societal breakdown so horrendous getting a cheap enough house would be the least of everyone’s worries.

I bit the bullet and bought in 2009 and am now mortgage free. I do feel sorry for anyone who has held off thinking prices would adjust.

They
really should change the name of their website, I would suggest
lifeisnotfairforme.com

Gwendo40

triathlon wrote: »

Me trying to call them out is just a fraction of the open trolling they do in hundreds of blogs, websites and media HYS forums, hoping that they will turn the rest of the UK into the way they think, 20 years they have tried now
The count is just one of hundreds, he is not the worst by far, they are on this very thread now, some even pretending now that they own homes and that they are trying to bring the market down for their fellow man :rotfl:

It is not just the property market where you see this behaviour, you get everywhere, some takes a stance and over years and decades they are proven wrong, yet they continue to change the whole world rather than change their failed stance.

Anyway I am up nice and early on this wonderful sunny day, sat in my wonderful paid for kitchen over looking the countryside and hills drinking fresh coffee. I am just going to have a drive around a few properties this morning and make sure grass is being cut and some of my more potentially troublesome tenants are behaving and looking after my homes.

All I can say to those who have all their hopes now with HPC.com, how could so many of them who have an obvious interest in property miss out on one of the greatest, easiest get rich schemes in UK history, it really has been so easy

Happy Sunday everyone

I know I shouldn't really even dignify any of your comments with a response as someone lacking in self-awareness to the extent that you obviously do will regard any response as a ''result'' regardless of it's content, however...

I've had a long held belief that a significant proportion of people who choose to become landlords do not do it simply for any financial reasons, but because they suffer with certain personality disorders, possibly being borderline sociopaths or at the very least narcissists.
This results in them having a constant need for self validation and self congratulation as well as some deep seated desire to hold power and control over other peoples lives (i.e their tenants)

I'd be willing to bet any amount that you won't find a single post across all of these economic discussion boards from someone who has invested in the stock market over the last 10-20 years and seen equally good returns (for a lot less effort) and feeling the need to come on here bragging and gloating about their success as well as trying to belittle and humiliate anyone else who didn't follow their particular investment path. Why do you think that is?

The obsessive and repetitive cringe worthy posts from yourself and certain others on here really do, I feel, bear out my theory. What say you?

westernpromise

I've suggested before that MSE is pretty much the antithesis of HPC (and its ilk). MSE is all about thoughtful stewardship of your money, whether that's capital or day-to-day expense. Shrewd management of the latter of course is part of the path to accumulation of capital.

We get nonetheless a fair influx of crashtrolls. The crashtroll mentality could not really be more diametrically opposed to the MSE ethos. Essentially, it is that you should treat the biggest purchase of your life as a speculative punt. Despite having ruined their lives by taking counsel of their own fears, they nonetheless offer their advice to the same disastrous effect to other MSEers, as though it's somehow fit for more than wiping your bottom with. Look at all the threads, for example, in House Buying, Selling and Renting in which Crashy tells people to sell their £90k house for £70k because the market's crashing. It then sells for £90k and there is not a peep of apology from him.

The thing is though, people who made out on BTL have in the main taken a hairy risk and it's paid off for them. At no time had I more than two being let, so I never had a conscious strategy to amass more. I just thought through the £ aspects dispassionately at the time and over the last 24 years concluded, on solid MSE principles, that it was a good idea to stay long property. Chucknorris for his part went completely balls-out and bought into the bottom of a London property slump that newspapers at the time suggested would never end.

Crashtrolls' attitude is that now is always a suicidally risky and stupid time to buy (see my sig for an example). Yet when later the place you idiotically bought has gone up in price, they insist you never took any risk at all, not even the one they said you were taking, because it's all a conspiracy against incels.

As a result, I don't think it's too surprising that people like that get short - often very short - shrift here, and are routinely counter-trolled to amusing effect. Triathlon is likely a performance, not a real poster.

So I don't think you can make generalisations about what sort of people become landlords. Many are just MSEers or of that mind. I've let four properties over the last 24 years and in each case the rationale was that I was living elsewhere for a while. I judged that letting them out would be more beneficial than selling and buying back in, and this judgment was correct on each occasion. When I take the p155 out of our visiting trolls it's to remind them that MSE principles would have rescued them from the ghastly error they now want to inflict on others. I see no reason to apologise for doing so.

triathlon

Gwendo40 wrote: »

I know I shouldn't really even dignify any of your comments with a response as someone lacking in self-awareness to the extent that you obviously do will regard any response as a ''result'' regardless of it's content, however...

I've had a long held belief that a significant proportion of people who choose to become landlords do not do it simply for any financial reasons, but because they suffer with certain personality disorders, possibly being borderline sociopaths or at the very least narcissists.
This results in them having a constant need for self validation and self congratulation as well as some deep seated desire to hold power and control over other peoples lives (i.e their tenants)

I'd be willing to bet any amount that you won't find a single post across all of these economic discussion boards from someone who has invested in the stock market over the last 10-20 years and seen equally good returns (for a lot less effort) and feeling the need to come on here bragging and gloating about their success as well as trying to belittle and humiliate anyone else who didn't follow their particular investment path. Why do you think that is?

The obsessive and repetitive cringe worthy posts from yourself and certain others on here really do, I feel, bear out my theory. What say you?

No.
I just do it for money, lots of money, your money:)

lisyloo

Hectors_House wrote: »

I used to read the house price threads/forums daily.

I could understand the anger but thought the crash folks were hoping for would only come about off the back of a societal breakdown so horrendous getting a cheap enough house would be the least of everyone’s worries.

I bit the bullet and bought in 2009 and am now mortgage free. I do feel sorry for anyone who has held off thinking prices would adjust.

Why do you feel sympathy for people who choose to speculate?
Harsh maybe but true.

westernpromise

Yep.

The MSEer calculation is straightforward. If the asking price of a house is £200k, that's £20k down and a £180k mortgage. You can get a 5-year fix from the Hanley Economic BS for 2.19%. After 5 years you'll have paid off 29% of the mortgage and will owe £150k. So to own it outright from here would cost you that £150k.

What are the chances, if you rent instead, that in 5 years' time you'll be able to buy that house for less than £150k? That would require a 25% price fall from here. What if prices go up instead? What if they go up a bit then fall 25%? What if they fall less than 25%? What if whatever makes them fall puts you out of a job so you can't buy anyway? What if the house isn't for sale?

The only sure thing in all the above is that after 5 years the renter is still renting and the homebuyer is 20% through the mortgage. So the renter kids himself the crash is overdue and rents for another 5 years. And so on, so that 23 years later in Crashy's case you have a snarling lifetime renter who can't forgive anyone who didn't make the same mistake.