Guy at work.. Should i tell him?

baileysbattlebus

It's none of the OP's business what their colleague is doing regarding housing. Lots of people bought houses in the last 2 years, lots of people are still buying houses, it's their choice. And if the homeowners partner is "servicing" the debt, so what, my husband paid and still pays what's left of our mortgage, it's their choice.
Do you know if they are in a negative equity situation? Falling house prices do not necessarily mean negative equity for the mortgage holder. And if prices do fall and interest rates remain stable, if they can afford to pay the mortgage now, they will still be able to pay the mortgage. If the value of the property falls below the mortgage debt AND you have to sell it's a problem, if you don't have to sell there is no problem. And if they can't afford their repayments the one at uni may have to get a job. You do what you have to do. They may have intended to sell after 2 years but they may have to stay longer. It's called life and sometimes sh** happens, you just get on with it.
IF there is a price crash more than likely not all areas will be affected, during the crash of the early 90's our house in the southeast fell in value by 40%, while my sister's house in the northeast carried on slowly increasing in value, as it had always done. Life would be so much easier if we were clairvoyant.

neas

Its not clever how the BTL market has priced me and many others out of the market. So when this guy is trying to make a 'quick buck' his greed has clouded his judgement. Should i be sorry for all the BTL kings who start making losses when their houses drop in value? or they can't remortgage?

When ultimately its their 'ilk' that have been speeding some of the house price inflation. My colleague at work is young... but also thought he was well enough informed to make this decision. I did feel sorry for him at the start until he mentioned he wanted to BTL as " the rent pays for the mortgage". This philosophu has 'stolen' many a home from potential FTBers priced out of the market. Investing in property is just taking money from the poor FTBers... and making a quick buck.

for a FTB with a 90% LTV mortgage if the house falls >10% then he we will be in negative equity correct?. House prices in my local area have started to drop down. I love how people argue that houses aren't dropping . Like blinded by the headlights... don't see it until its too late.

MrSafeGaz

neas wrote: »

Why? I fail to see the logic.. Your incinuating (and no i dont care if its spelt wrong.. this is the interweb..) that i dont enjoy myself. Im getting married mate, i go out every now and then but im not a complete !!!!head like i used to be. Im settling down thinking financially straight for my future family.

Why berate me for it?

You used past tense in that paragraph, perhaps a tad optimistic. I have read a few threads now where you have also unfortunately 'contributed' and its always the same story. You come across as jealous, insecure and vindictive in each. It's like you have to attack what others are doing just to try and justify to yourself that what you are doing is correct.

As for the guy you speak about in the original post, I agree it's none of your business and it doesn't appear as if he is even your friend. You don't want to tell him to help him, you want to tell him because you want him to know that you're 'right' and he is 'wrong'. Frankly, its pathetic. If he is happy with his decision then so be it, all the more power to him. If he gets burned then he will learn an important lesson.

ixwood

lol. he's just a irrelevant HPC tit . Ignore him. They've been wrong and bitter for so long now, some can't help being smug and childish now as if they were right all along.

I'm no bear or bull and will be fine either way, just think the most of the HPC brigade are insignificant childish sad losers.

They go round the net trying to sound clever so their homeless HPC buddies will think they're cool. Get a life.

ixwood

neas wrote: »

Its not clever how the BTL market has priced me and many others out of the market. So when this guy is trying to make a 'quick buck' his greed has clouded his judgement. Should i be sorry for all the BTL kings who start making losses when their houses drop in value? or they can't remortgage?

When ultimately its their 'ilk' that have been speeding some of the house price inflation. My colleague at work is young... but also thought he was well enough informed to make this decision. I did feel sorry for him at the start until he mentioned he wanted to BTL as " the rent pays for the mortgage". This philosophu has 'stolen' many a home from potential FTBers priced out of the market. Investing in property is just taking money from the poor FTBers... and making a quick buck.

for a FTB with a 90% LTV mortgage if the house falls >10% then he we will be in negative equity correct?. House prices in my local area have started to drop down. I love how people argue that houses aren't dropping . Like blinded by the headlights... don't see it until its too late.

lol. Not too bitter then?

Diddums. I whole heartedly agree with the tit comment.

Ps I agree prices will drop (after a bull trap maybe?), but that doesn't make me act like a child.

robpw2

neas you sound like your jealous becase people have money and bought property to let to people like us who rent, those who cannot afford to by those who have a clever system to make some quick money .

Perhaps not every house is going to fall by 10%, not every area is going to have such dramatic losses.

neas

Yes they used a clever system to make quick money I agree. So i can be annoyed that this contributed to pushing house prices up?

So when they use the clever system and get burned you cant be totally sympathetic with someone who took a huge risk.

Perhaps such large losses wont appear but the last crash was quite substantial drops. But as you already know anything could happen, time will tell as they say. Its certainly correct that now would be an unwise time to buy for most people.

neas

MrSafeGaz wrote: »

You used past tense in that paragraph, perhaps a tad optimistic. I have read a few threads now where you have also unfortunately 'contributed' and its always the same story. You come across as jealous, insecure and vindictive in each. It's like you have to attack what others are doing just to try and justify to yourself that what you are doing is correct.

As for the guy you speak about in the original post, I agree it's none of your business and it doesn't appear as if he is even your friend. You don't want to tell him to help him, you want to tell him because you want him to know that you're 'right' and he is 'wrong'. Frankly, its pathetic. If he is happy with his decision then so be it, all the more power to him. If he gets burned then he will learn an important lesson.

Mate, have you re-read some of your posts? You come across as aggressive all the time. Its the pot calling the kettle black ok? Bringing things to a personal level on many occasions.

tomatopuree

Just a thought, on PropertyBee it brilliantly shows how lots of people have reduced their prices. As Neas points out, no one has put their prices up. Who would put their house on the market and then a while later think 'I know, I'll put the price up a few thousand'.

Although I think there will be a slight fall in prices in many areas, I still believe there will be a market and stable house prices for decent properties in decent areas.

Neas, it doesn't seem this guy bought this property to take it off the market for FTB'ers, he's living in it isn't he? If so, the guy took a risk, a dangerous one which may backfire, but I wouldn't be so harsh on him.

MrSafeGaz

neas wrote: »

Mate, have you re-read some of your posts? You come across as aggressive all the time. Its the pot calling the kettle black ok? Bringing things to a personal level on many occasions.

You are right, aggressive towards you, the person who took things to a personal level the very first reply you made to one of my posts

Regardless, the number of people who have classified you as a bit of a pratt in your short career as a poster on here is far greater than my own.