Something to cheer the renters up

neas

ali your missing the point. The whole situation in which she felt the need to buy 3 houses... was driven by the same mentality..

Of people buying.. and 'stealing' houses from the children doing GCSEs....

Imagine someone robbing a bank.. in which because of this you loose money.

But while trying to rob the bank the person looses a gold watch... in the process. He also escapes with no money.

Would you feel sorry for him that he lost the gold watch... and was out of pocket? I don't think so.

Kind of mentality we got these days...

Bosworth

ali82 wrote: »

I thought this website was supposed to be informative and constructive, what I've read is utter rubbish and comes across as school yard bullying?!!!!

So she mad a mistake, everyone does, who knew when prices were going to fall it's all well and good saying I told you so now!!

Anyway Kazd I hope you and your family figure something out, maybe your tenants won't mind paying and extra £50 a month? Defiantly get rid of the agents

Good Luck

Confession: I too am from housepricecrash.co.uk but count myself as a moderately nice guy.

Lots and lots of people predicted the fall and have been for some time. Sorry - but the fact that a great number of people chose not to listen and do their own analysis is unfortunate and sadly inevitable.

30-50% falls in house prices are a natural and mechanical and automatic reaction to the credit contraction. There is a difference between demand and effective demand eg. everyone wants a Ferrari but who can afford one?. Demand for houses has fallen 50% as people can no longer borrow what they thought they could.

It's gameover.

To the original poster... I truly sympathise with your predicament on a human level, but you entered into a business arrangement that has not gone to plan. You need to man-up and deal with the consequences.

My personal advice would be to sell as soon as you can at whatever price you can and stop throwing good money after bad. That way you can chalk this up to an interesting (but bad) experience and get on with your lives.

If you carry on, you run the risk of losing your "investment" properties AND YOUR MAIN HOME. The banks will pursue you and your assets to the end of the earth if it comes to it.

Be brave, accept your mistakes, and look to the future.

Genuine best wishes - your story will be replicated hundreds of thousands of times over the coming years.

N79

My word - I've not encountered such bigoted vitriol and bile for a long time. Whoever used the phrase "house price crash fundamentalists" was spot on.

However, it was highly amusing to read some of the childish posts. Especially the "researcher" who can not even spell his own occupation!

Where on earth does the seemingly religious idea come from that everyone has a right to buy a house? So British.

Anyway - just wanted to say good luck OP in correcting your mistake without too much hardship.

N79

moneysavinmonkey

3under3 wrote: »

Interesting to note that when the OP originally asked on this forum about buy to let a couple of years go no-one was advising against as they do now. .

Just goes to show you should take any anonymous advice given out on an internet forum with a pinch of salt and do your own research!

mystic_trev

It looks like cells has been given a right roasting on HPC for bringing the site into disrepute (is that possible?) Hopefully he'll return to sitting under his bridge!

dopester

Jarvissa wrote: »

I don't know which makes me the more frustrated... that spiteful tool "cells" or 'dopestar' who thanks his every idiotic post.

Just be grateful I don't launch in as well miladdo. I won't stick the knife in but Cells has good reason to be angry.

There are a lot of people who've seen the property market rise well beyond any measure of actual affordability compared to earnings over the past 11 years, fuelled by a torrent of cheap money which people chose to borrow at 5, 6 and 7 times past their earnings

That's priced out anyone with any measure of logic about the value of money & anyone who knew the HPI mega-bubble could not continue in this way.

And it's made all the worse by a million amateurs and speculators who fuelled the HPI on cheap money who bought more property for their 3 year old kids as an investment - leaving many young professionals still renting, when in previous decades they would be home-owners getting on with their lives.

neas

N79 wrote: »

Where on earth does the seemingly religious idea come from that everyone has a right to buy a house? So British.

N79

Well.. obviously if everyone does as the OP tried... and buys 3 houses then theres not going to be enough houses available is there?

Never heard such ridiculous nonsense in my life.

johnny_storm

3under3 wrote: »

I agree with ali82. Interesting to note that when the OP originally asked on this forum about buy to let a couple of years go no-one was advising against as they do now. It's easy to be wise after the event.

This forum is geared towards saving a few hundred quid by being a canny shopper, and the hug brigade for those that should be in debtors prison. It is not for serious financial advice.

N79

neas wrote: »

Well.. obviously if everyone does as the OP tried... and buys 3 houses then theres not going to be enough houses available is there?

Never heard such ridiculous nonsense in my life.

The three houses would have been still available to rent. No housing stock was being removed from the market. So I will keep my view.

Whatever your point of veiw there is never any excuse for the rudeness and bad manners that the OP experienced on this thread.

Super_Ted_2

N79 wrote: »

My word - I've not encountered such bigoted vitriol and bile for a long time. Whoever used the phrase "house price crash fundamentalists" was spot on.

However, it was highly amusing to read some of the childish posts. Especially the "researcher" who can not even spell his own occupation!

Where on earth does the seemingly religious idea come from that everyone has a right to buy a house? So British.

Anyway - just wanted to say good luck OP in correcting your mistake without too much hardship.

N79

As a proud HPC fundamentalist if you can find anything wrong with my post you just let me know.
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Where does the recent seemingly religous idea come from that some people are entitled to own multiple houses at the expense of others who have none?
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ST