Market Sentiment Is So ****ing Stupid

[Si1]

I realise it's a truism, but at peak bubble the majority would not bat an eyelid at overpaying for a shoebox

at peak trough, when it comes, the market will be like an unused Western film set with tumbleweed blowing through it

I hate these morons

[WideAsleep]

Human nature is to blame. Be thankful you have the intelligence to realise what is going on. As for the rest of the sheep, you can not help them, it will just cost you time and reputation to even try. So to be frank, f*ck em.

[Venger]

I realise it's a truism, but at peak bubble the majority would not bat an eyelid at overpaying for a shoebox

at peak trough, when it comes, the market will be like an unused Western film set with tumbleweed blowing through it

I hate these morons

Do you think they're posting on forums worrying about renter-savers? Year after year.

HPCer the other day telling of couple just spent £20K more to buy that overvalued peak for the street... late 20s.

Perhaps it needs to be this way for HPCers. Rent all your life and then straight into a nursing home to see out final days, in the quest to worry for the overpayers at INSANE prices, and lobby for their HPI protection.

[oracle]

Human nature is to blame. Be thankful you have the intelligence to realise what is going on. As for the rest of the sheep, you can not help them, it will just cost you time and reputation to even try. So to be frank, f*ck em.

i beg to differ.

human nature is NOT entirely to blame.

people have been hypnotised by goebbels-esque constant repetition propertyganda for nearly 2 decades.

the first step in avoiding the trap is knowing of it's existence.

unfortunately people are either not sudents of history,or the history books were re-written in advance to obfuscate the techniques being used on the populace at large.

Now, people,if and when they wake up,MUST study the people previously employing such tactics.Then,and only then,once you dig into THEIR history, can you identify the culprits.

do you do your homework now....and expose them?

or do you wait for joe public to get caught short,feel some pain at their losses and thrash around aimlessly at whatever scapegoat gets touted by the media(which is owned by the same people in a magnificent magician style sleight of hand illusion)?

the evidence is there,if people are prepared to look for it.

Edited August 19, 2015 by oracle

[200p]

Are you OK Si?

Try to focus your energies on something that might make you rich. I am trying hard - I may not make it, but I'll die trying.

[sPinwheel]

Are you OK Si?

Try to focus your energies on something that might make you rich. I am trying hard - I may not make it, but I'll die trying.

Focus on being happy. Rich or otherwise.

[19 year mortgage 8itch]

Focus on being happy. Rich or otherwise.

Yes, have a *****.

[Venger]

i beg to differ.

human nature is NOT entirely to blame.

people have been hypnotised by goebbels-esque constant repetition propertyganda for nearly 2 decades.

the first step in avoiding the trap is knowing of it's existence.

unfortunately people are either not sudents of history,or the history books were re-written in advance to obfuscate the techniques being used on the populace at large.

Now, people,if and when they wake up,MUST study the people previously employing such tactics.Then,and only then,once you dig into THEIR history, can you identify the culprits.

do you do your homework now....and expose them?

or do you wait for joe public to get caught short,feel some pain at their losses and thrash around aimlessly at whatever scapegoat gets touted by the media(which is owned by the same people in a magnificent magician style sleight of hand illusion)?

the evidence is there,if people are prepared to look for it.

I don't understand, at all.

It's a market. No one is dragging anyone in to bank to pay £400K for a semi in Stockport.

My focus won't be on more recent buyer side into a HPC, but equity rich giving back HPI gains, and my own family able to buy at non hyperinflated prices. The very few caught out can go rent.

People make their own market decisions, including this 2 PhD couple, who kept first house, and bought again.

It's a market. They're not idiots. Do we really need house prices doubling and trebling from insane prices, to protect them from... a conspiracy(?)

Loose talk about the demise of a class of homeowners is fun and games provided we are honest about what happened. These people purchased houses paying prices that they could not afford. There is a tremendous moral hazard associated with allowing the situation to persist. Their death will not be a literal death; at the very worst they may have to acknowledge their insolvency and lose their present homes and rent somewhere else. The terrible fate they wish to be spared is from renting. Only the most unfortunate will be insolvent. Some, finally forced to sell by the pressure of rising SVRs captured by the graph, will find that though even though they do not end up selling from a position of significant negative equity, much or all of their former notional equity and actual deposit may be lost. Again, this is not such a terrible fate; it is just life. They paid too much for something and thus when they came to sell it on, they made a capital loss, (and of course the unspeakable shame and hardship of renting also awaits*).

[...]My colleague stated that they had kept their earlier flat as an investment property and justified this choice on the basis that their first born would not forgive them if there was nowhere for them to live but the family home, and given house prices, how would they ever buy? I said nothing, but the choice of first born in my presentation gives the game away. My colleague has two children, (but only one investment property). In fairness, more recently the same subject was reached again, not driven by me, and a more compelling and believable answer as to the decision as to why to leverage up with a buy-to let mortgage instead of arranging a sale was forthcoming; it was easier. This is passive buy-to-let investor cognition. It is just as insidious as active BTLer cognition because it involves hundreds of thousands of people, who do not even consider themselves to be investors, let alone gamblers, continually embedding property valuations in house sale transaction chains which are predicated on the cost of financing a gambling stake, and that is no way to run a railroad.

http://www.housepricecrash.co.uk/forum/index.php?/topic/205887-a-goodbye-to-all-that-buy-to-let/?p=1102774496

Edited August 19, 2015 by Venger

[Si1]

Are you OK Si?

it's the pitying condescending sh*t I am getting off various smug mainly baby boomer members of my family, both marital side and blood

I'm such a thicky they imply and with fixed dim-witted smiles, trying to persuade me despite the numbers, and history, that they are right. there there listen to us get a big mortgage out and you can be a baby boomer too. I mean they quote some knuckle-headed selective anecdotal history and then - and I mean this - quote the Daily F00king Mail at me, that THEIR journalists tell you when to buy and follow that.

actually no I'd be royally f*cked for the rest of my life but there you have it

Edited August 19, 2015 by Si1

[Si1]

.

Edited August 19, 2015 by Si1

[renting til I die]

it's the pitying condescending sh*t I am getting off various smug mainly baby boomer members of my family, both marital side and blood

I'm such a thicky they imply and with fixed dim-witted smiles, trying to persuade me despite the numbers, and history, that they are right. there there listen to us get a big mortgage out and you can be a baby boomer too. I mean they quote some knuckle-headed selective anecdotal history and then - and I mean this - quote the Daily F00king Mail at me, that THEIR journalists tell you when to buy and follow that.

actually no I'd be royally f*cked for the rest of my life but there you have it

Take it on the chin.

I try and avoid these conversions but with the silly prices in the SE I generally just say 'yes, you are right, should have bought, but what can I do now!'

[streamingfreedom]

It's a market. No one is dragging anyone in to bank to pay £400K for a semi in Stockport.

True, but it's also a market for one of the few things you actually need in life (a roof over your head), especially when you have a family, which does often push people to borrow 'that bit more' in the hope of a stable life as opposed to renting.

[Venger]

True, but it's also a market for one of the few things you actually need in life (a roof over your head), especially when you have a family, which does often push people to borrow 'that bit more' in the hope of a stable life as opposed to renting.

So. That's their life and decisions. They pay £400K for house in Stockport with 'that bit more' big mortgage.. they have to pay it back. It's pretty simple.

We all want things, but some of us not prepared to pay prices other are prepared to pay, in a market.

Do you expect their renting neighbours to donate money directly to the £400K buyers if market falls. Owners are dishing out free money to renters with prices up 30% above peak.

[Venger]

True, but it's also a market for one of the few things you actually need in life (a roof over your head), especially when you have a family, which does often push people to borrow 'that bit more' in the hope of a stable life as opposed to renting.

If you've bought / if you buy.. it's your own life... not someone else's life.

We are currently renting a 2 bed house for 1050 a month. Despite earning almost 50k im driving a 200 quid car I fix myself and we have about 60 a week left after bills to pay for anything else clothes days out etc or save. If the wife works all money will go on childcare. I'm thinking emigrate or back to Nottingham.

You are absolutely right not to pay a fortune for a starter home, we nearly did earlier this year and both so glad we pulled out in the end as space is tight in the 2 bed house we rent now, but the 2 bed flat we were looking at was much smaller.

I have given up on housing now. In a way it is a release from huge stress of wondering how I can afford it. My wife would have to work full time again and our family time would suffer. I know this area is better than Nottingham but at what cost - normal life in the South East is now reserved for those with 100k to put down and that is the end of it. We know three families that have done exactly this in the last year.

We had an offer accepted on a place in Dec 2 bed for 210. As mad as the prices are we need a home and love our jobs here. Reading asking prices are still climbing its ridiculuous. We've seen some 2 bed end terrace etc on for 300k. We looked at a 1 bed with an extension to 2 beds (tiny) on at 250 before Xmas. Completely mental market yet everyone went speak to feels it will go up and up due to cross rail. Personally I think we'll be lucky not to see a loss in a few years time.

[Venger]

Being like this, and paying stupid high price.... outbidding others, is your own decision.

You choose to pay the price.. it's your life.

Don't come a whining after the HPC about being a victim. Maybe no HPC, and you happy to have bought.

IT'S A MARKET - not a someone else bail me out life.

True, but it's also a market for one of the few things you actually need in life (a roof over your head), especially when you have a family, which does often push people to borrow 'that bit more' in the hope of a stable life as opposed to renting.

Edited August 24, 2015 by Venger

[Venger]

^ BTW - that commercial was released towards old peak on the US market.

'They just wanted a home' (outbidding others by fortunes).

Uploaded on 11 Apr 2006

An odd new ad from Century 21

[Si1]

^ BTW - that commercial was released towards old peak on the US market.

'They just wanted a home' (outbidding others by fortunes).

Uploaded on 11 Apr 2006

An odd new ad from Century 21

There's a trend for people who bought in the dips in either 2010ish or prior to about 2001ish to gloat how they paid their mortgage off under the low interest rate environment. Chuffing annoying constantly hearing this. Lucky barstewards being on the positive receiving end of quantitative easing and foreign speculation.