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Abbey Well

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About Abbey Well

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    HPC Newbie
  1. Are you saying that Financial Planner was correct when he predicted an HPC in2002? or is noone allowed to differ?
  2. It's just pyramid selling really. Anyone remember the chain letter going round tyyears ago where you sent £10 to the person at the top & you were supposed to get 100k back? There is no such thing as a get rich scheme where everyone can make money. Some do, the early birds, but the rest don't. look at Google's shares - pity anyone who bought in October last year.
  3. you don't get it do you? There are so many people in London who bought ages ago and have also mewed to buy more properties (to rent out to the lowly paid) and they are sitting on profits. So if they bought at say 100k when their salary was 60k - 3.5 x 60k = 210 Property 1 goes up and they mew it to buy property 2 etc. and property 2 mortgage is based on income expected etc. The cheaper places in London will be bought by BTL's with equity mewed from their empires and the more expensive places will be bought by people with loads of equity moving up. And the really expensive pllces will be bought by overseas buyers - like they always are
  4. Average number of properties owned per home owner in London.................................? 2 Average salary of home owner in London ?80k Average salary of renter in London? 20k We are soooooooooooooooooo rich
  5. I can't really believe that you can make such a generalised statement. Surely selling your house in 2002 and moving into rented accommodation was significantly more stupid than a BTLer selling their property a few weeks late?
  6. So if I say now "ooh I predict house prices will go up by 50%" and then they drop by 33% down to 67% of current and in 10 years time they get back to where they were (ie go up by 50% of 67%) will that mean I am right? No of course not, its ridiculous and that's exactly the point I am making about Financial Conniver. As a matter of fact I don't particularly want to discuss my affairs on here but let's just say I didn't party, I am mortgage free and I own more than one property. I am also a bear right now.
  7. Psychologically people won't want to put their place up for sale for less than someone else paid previously in their street and certainly not for less than they paid. However people who bought way back probably aren't fussed. Estate agents take on whatever they think they can sell but in order to get the property on they try and overvalue them to get them on and then try and get the vendor to drop the price.
  8. yeeaah you're probably right they would go right back to where? 2004 or maybe 2003 - still makes selling up in 2002 seem a pretty stupid idea in my opinion. 6 years rent paid which could have ben paying off a mortgage? Sure things look ropey now but they didn't in 2002 so only someone rather foolish would have sold then.
  9. He's a guy who predicted the crash in 2002. He sold his house & moved into (I think smaller) rented accommodation. Although he was wrong for 6 years and missed out on 6-7 years worth of house price inflation he is now highly respected for sticking to his guns and repeating his prophesy. If prices drop by 40% they will be back at 2005 levels. Brilliant eh!
  10. You must listen to this guy - after all he correctly forecast the great housing crash of 2002 - he even put his money where his mouth is and sold his own home - he is a famous STR He gets people to pay him for his advice - you must listen
  11. You seem to see aliens when no-one else does!! The great crash of 2002.......................................................
  12. Ok so when you STR'd in 2002, you had the long term vision that prices would double in the 5 years after and then take how long to get back to where they were in 2002? I can see now that you are truly a guru when it comes to predictions - I apologise for misunderstanding your incredible talent
  13. I don't have a prediction because I don't know enough about it but clearly neither does he know enough yet he gets paid for giving Financial advice.
  14. Ha ha ha ha our own Financial Guru helpfully predicted the DOW support level - wrongly, just like he predicted the House Price Peak - Wrongly.
  15. Hmmmm. Did you use support & resistance to decide on when to STR in 2002?
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