"it's different this time" favourite bull quotes

neverdespairgirl

Innocenti wrote: »

I know I am a newbie to all this but does it really matter how much house prices drop if you are buying for a home? My offer on a house has just been accepted and I dont care if the value drops £30,000 after I buy it as I want to live in it for years,

It does matter to some extent - if circumstances change and you need to sell, for example.

It also means that, if house prices fell 20%, you'd know that had you held off buying, you'd be paying 20% less back to the bank!

hgllgh

CB1979 wrote: »

well done the "predictions" for the last 4-5 years have come true! :rolleyes:

so i can start saying prices are going to rise for the next 4-5 years HOPING to be right, then i can come on here and say "ha told you so"

get real

it's hardly a pat on the back for predicting house prices reducing when it took 4-5 years, now if out of the blue it happened i would be saying well done, but for now, you don't even get a blue peter badge for stating the obvious.

only thing it took ALOT longer than you [strike]hoped[/strike] "predicted".

i take it, you'll never buy a home as it's obvioulsy a very risky thing to do

that's not quite the point i was making. the point is that there are plenty of bulls on here and in every sphere of activity that said this time would NEVER come..... were you one of them? .... and they have been proved wrong ... short sighted in their belief that house prices only ever go up .... they have been foolish to wallow in short termism.... i.e. Ultimately it is the short termist views of the banks trying to make a fast buck out of property and fearing loss of market share that are to blame and should be named and shamed... well they are actually doing a good job of that themselves aren't they ..... Northern Wreck

So, I'm not interested in "ha told you so" or even blue peter badges, just an admission from the bulls that they have been wrong to believe that the price rises were acceptable, justified, and that no harm would come to society as a result.

i'll buy home right enough, but only when I'm happy that I not being fleeced by a false economy driven by a bunch of zombies! Why would I want to buy a poky 1 bed in a sh*te area for a quarter mil?? Us bears should be commended for our long term view and sticking to our guns for those 4-5 years.

Face it, the bears are running the bulls out of town!

dannyboycey

CB1979 wrote: »

so i can start saying prices are going to rise for the next 4-5 years HOPING to be right, then i can come on here and say "ha told you so"

You can, but I suspect you'll have to hold back your "I told you so" routine, as I think it'll be more than 4-5 years before things are on the rise again.

hgllgh

chappers wrote: »

Exactly the [strike]bears[/strike]timid ditherers amongst us were actually saying this as long ago as 6 or 7 years and many who bought their houses that long ago have seen them double in value and those who bought upto 2 years ago have also seen decent rises in value.
Now I don't see that as stupid bullish attitude I see that as sensible, to buy at the bottom of a rising market.

Now when we bought our house 10 years ago we had saved a nearly 20% deposit and we were stretching ourselves to the limit, a small rise in interest rates would have seen us struggling, so to protect ourselves from that we took a decent length,5 year fixed deal (as it happened interest rates fell during that period, but hey ho at least we knew we were secure).

Bleating on about how unfair it is that the bulls talked up the market and have left the joe in the street in the 5hit is itself bolloxxxxxxx .
Whilst as a human being I feel sorry for anyone who may face repossession of their home, nobody forced these people to take out 100-125% mortgages on 6,7 or even 8 times salaries on stupid 2 year deals(without any consideration as to what might happen after that). When we bought our house we took advice from everywhere we could before making an informed decision and deciding to buy.
"Fools rush in.....etc" and in this case many with blinkers on

Don't know about doubling in 6-7 years. certainly not in the area and property type i am looking at. The only reason the current boom kept going for that long is due to the BoE panicking and faffing around with interest rates ... not even the wisest of bears or bulls could have predicted that, that was just lucky for the bulls. If the BoE had kept their head the party would have been over long ago.

Once again, I'm not bleating on about how unfair it is... I'm loaded and can jump on the property ladder whenever I want to ... but its all in the timing now isn't it :money:.
I am just saying that the bulls (lay people and industry players) have been WRONG all along and that is why we have a credit crunch and a probable recession in both the US and the UK with widespread reposessions, job losses etc etc. If the bulls in the US and UK had been corrected years ago then we would not have seen the sub prime crisis/credit crunch/recession.

CB1979_2

i've never once said property prices won't stall/go down/crash, etc.

imo they won't crash by the 30-40% that is being "predicted" in my area, what they do in newcastle and the like i couldn't care less to be honest, doesn't affect me directly so sod it.

i kind of see myself as fairly sensible when it comes to monetary matters (not to the point where i like to spend all day & night looking over the markets, etc etc) but also have a gun-ho approach (can you be both? lol) "it's only money" after all, plenty of time to earn more or bail out go bankrupt and start again.

MY circumstances & property were right for ME, took me a good few months to find the place when all other places were about £25k more than mine, so right place right time and all that.

as i said though if i came on and said property prices will double next week and they did, even with all what's happening now, then that would be a great predicition, however predicting it for several years is purely stating the obvious.

those who are naive/jumped in with both feet deserve all they get (my sister included stupid wench! lol) not realising that "only" a 0.25% rise could add on another £50 a month they don't have, multiply that by 3 and yes you are fubared!!

i think the only other thing that wasn't predicted was the actual cos of everything else going up (gas, elec, oil, etc etc) that has just compounded misery for many many people.

them companies are the ones that get to me more than house price inflation to be honest, saying "well costs have sky rocketed so we'll add them onto you", but in the next breath saying "record profits again this year" now surely if all they're doing is passing on the extra cost to the consumer, then their profits should remain pretty static not rise by 30%! !!!!!!! lol

even a house as a "home" should be treated as any other investment, and if you're stupid enough to think that all investments can only ever go up, we'd all be millionaires, so again stupidity will cost you big time.

but c'est la vie, life goes on.

pickles110564

neverdespairgirl wrote: »

It does matter to some extent - if circumstances change and you need to sell, for example.

It also means that, if house prices fell 20%, you'd know that had you held off buying, you'd be paying 20% less back to the bank!

And if we all had crystal balls we would be not wasting our time on here, we would be spending our wealth and enjoying our time in paradise

carolt

Vincenzo wrote: »

How many posts are going to call the market crash before it happens??? Sure things are not looking great right now. But let's look at the US market, if I listed all the economic problems that the US would have today, say 3 years ago, how much would you have predicted US house prices would have fallen by today?

20%, 30%, 40%???? Well the last figures I saw were 10% and remember that is a market average. Some will have fallen far more, some far less, and some will have risen. And while nobody knows the extent of the credit crisis I suspect there have been an awful lot of write downs on the pesimistic side. Remember these are based on sentiment - no one knows the true extent of the 'bad debt' at present. What would you do if you were a bank right now??? bear or bull? Bear of course! Why not write down profits while you have them, in the hope that you can 'find' them again later! The real worry here is that they talk the markets into doing the very thing they fear.

There are lots of reasons that house prices have risen so much in recent years, some sustainable, some not so much. But even the most pessimistic of bears are only predicting 20% - 30% falls in the UK. The US isn't even close to that yet. The vast majority of us could easily withstand 10-20% falls. 30% will make make a few more nervous but give it 2-3 years and the recovery in the economy will start to show through and all this will be forgotten.....

Incidentally the yields on BTL are becoming more attractve by the day. Provided you can get finance, now may be a good time to start looking. With nervous and motivated sellers out there, prices are beginning to look keen. Couple that with nervous buyers happy to rent longer term and rents in many areas increasing and I am sure some of you, at least, can see there maybe the odd opportunity showing its face in the not too distant future....

So are you putting your money where your mouth is, Vicenzo? Picking up any nice new buy-to-lets for a song?

Oh go on, do - and please come back and tell us all how well they're doing in a year or two - we'd love to hear... :rotfl:

Until I read this post I'd made the mistake of thinking you were a genuinely impartial poster, with a keen interest on all points of view being represented - if a trifle rude.

Now you've nailed your colours to the mast, it all becomes clear.....

Vincenzo

carolt wrote: »

So are you putting your money where your mouth is, Vicenzo? Picking up any nice new buy-to-lets for a song?

Oh go on, do - and please come back and tell us all how well they're doing in a year or two - we'd love to hear... :rotfl:

Until I read this post I'd made the mistake of thinking you were a genuinely impartial poster, with a keen interest on all points of view being represented - if a trifle rude.

Now you've nailed your colours to the mast, it all becomes clear.....

Not exactly sure what you mean Carolt?

I was merely pointing out that the yields on BTL properties in some areas are improving. In my area they had reached as low as 4.5%, now I am seeing some approaching 6%. How is that not impartial?

To answer your question - no, I am not buying at the moment. I am waiting to see what unfolds over the coming months. Like I said, keeping my eye open for the odd opportnuity in the not too distant future......

Generali

Innocenti wrote: »

I know I am a newbie to all this but does it really matter how much house prices drop if you are buying for a home? My offer on a house has just been accepted and I dont care if the value drops £30,000 after I buy it as I want to live in it for years, I want it as a home for my children, not to sell in a couple of years and make a profit.

We have rented in years and I hate the uncertanty and not feeling secure as your home is not yours and you could have your agreement cancelled at any time.

I just want to buy a house to live in and call my own. Why is that so bad??

The fact is, if you're not buying, selling or planning on remortgaging then it doesn't matter what your home is worth.

The biggest problem with the housing market in the UK is that people want it to be an investment/pension/cash machine rather than buying a house as a home to bring up their family.

Rising house prices in France for example were seen as a Very Bad Thing and something that the politicians should do something to stop (the French love to let the politicians sort out their problems, under threat of revolution of course).

In the UK we see it as a good thing. Crazy. It's like celebrating the price of onions rising because you've got a bag of Tescos value onions in the fridge and a bottle of pickled ones in the cupboard you haven't even opened.

carolt

Vincenzo wrote: »

Incidentally the yields on BTL are becoming more attractve by the day. Provided you can get finance, now may be a good time to start looking. With nervous and motivated sellers out there, prices are beginning to look keen. Couple that with nervous buyers happy to rent longer term and rents in many areas increasing and I am sure some of you, at least, can see there maybe the odd opportunity showing its face in the not too distant future....

That is NOT just 'merely pointing out that the yields on BTL properties in some areas are improving' as you claim. That is clearly suggesting that others should buy.

I dislike this dishonesty - if you are a bull, fine - we won't agree, but I will respect your right to disagree. But to dishonestly claim you are impartial when you are not is wrong - there is a genuine danger of misleading others on what is a public forum.