Not so funny when its someone you know :(

mr.broderick

existentialist wrote: »

Your sister means little to you to belittle her on here in such a fashion.

Jesus christ get with the programme there is no sister, it's all made up like the credit crunch

amcluesent

>I don't think she's any idea how much I saved her.<

A rather expensive way to make a 'saving'.

You could have just taken out a spread-bet on the Dec 2009 national house price index, very little money down and massive gains if you're proven correct that market will be off 40%+

Gorgeous_George

SquatNow wrote: »

I agree...

If you agree with me, I've changed my mind.



GG

Sinking_Feeling_4

existentialist wrote: »

Your sister means little to you to belittle her on here in such a fashion.

I've not belittled her at all, I just felt genuinely sad that someone I know is going to be badly burned by this housing crash. I'm actually a fairly regular poster on these boards, but have chosen to post as a new user to spare her feelings, as she knows my usual MSE i.d.

She will be safe from negative equity for a while, whatever Squat says - she has a 25% deposit, and even the HPC lot aren't forecasting 25% drops over the next 12 months. But I do think she is at risk of losing all or most her (very hard-earned) deposit before we reach the bottom.

It's just sad that there's no reasoning with her - it's like she's been brainwashed by the property shows the way she just parrots the usual phrases like renting being just dead money etc. But I won't let it spoil the relationship - there are more important things than money. And I've no intention of "lording it over her," benood!

mr.broderick

Sinking_Feeling wrote: »

I've not belittled her at all, I just felt genuinely sad that someone I know is going to be badly burned by this housing crash. I'm actually a fairly regular poster on these boards, but have chosen to post as a new user to spare her feelings, as she knows my usual MSE i.d.

She will be safe from negative equity for a while, whatever Squat says - she has a 25% deposit, and even the HPC lot aren't forecasting 25% drops over the next 12 months. But I do think she is at risk of losing all or most her (very hard-earned) deposit before we reach the bottom.

It's just sad that there's no reasoning with her - it's like she's been brainwashed by the property shows the way she just parrots the usual phrases like renting being just dead money etc. But I won't let it spoil the relationship - there are more important things than money. And I've no intention of "lording it over her," benood!

Benood stop spamming you little tinker

beingjdc

amcluesent wrote: »

>I don't think she's any idea how much I saved her.<

A rather expensive way to make a 'saving'.

You could have just taken out a spread-bet on the Dec 2009 national house price index, very little money down and massive gains if you're proven correct that market will be off 40%+

But since the spread betting market is already predicting 20% falls by December 2009, you stand the risk of prices falling 15%, in which case you lose 15% of your house's value, and a further 5% on your bet.

Bit risky if you're a homeowner, really...

Hagar_uk

Sinking_Feeling wrote: »

Sigh.
Of course, maybe I'm the one that's wrong, and she's doing the smart thing. But I seriously doubt it.
Shame.

Feel your pain! it just proves money saving is not genetic. My sister just bought her first property a 50% share of a 1/4million flat and paid list price, about a week before the banks clamped up. To make it worse its an interest only mortgage and she has no idea or interest on how to pay the capital back. Straight away goes and buys furniture on credit cards. Tried telling her she was nuts, and she should be carefull, but was given your always so negative routine, and refuses to listen, if I don't get on the property ladder now I never will, yada yada. A month later the list price of same size flats on the same block are down 20K and thats just list price.

RHemmings

SquatNow wrote: »

I agree. I love it when people talk about the Credit Crunch "ending".

They say the housing market will start back up again where it left off.

No-one can explain *HOW* the credit crunch ends. They just say "well it just does". in reality anyone who understands the REASON for the credit crunch knows it can't end for a couple of DECADES.

Very well put. The credit binge was due to the systemic underpricing of risk. That's not going to return any time soon. Quite the opposite.

RHemmings

Hagar_uk wrote: »

Feel your pain! it just proves money saving is not genetic. My sister just bought her first property a 50% share of a 1/4million flat and paid list price, about a week before the banks clamped up. To make it worse its an interest only mortgage and she has no idea or interest on how to pay the capital back. Straight away goes and buys furniture on credit cards. Tried telling her she was nuts, and she should be carefull, but was given your always so negative routine, and refuses to listen, if I don't get on the property ladder now I never will, yada yada. A month later the list price of same size flats on the same block are down 20K and thats just list price.

In situations like this, you frequently hear that "fortune favours the brave". Unfortunately those who are both brave and stupid (not necessarily your sister) are fortune's whipping boys.

benood

mr.broderick wrote: »

Benood stop spamming you little tinker

Eh don't you mean Sinking-Feeling Mr B