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House Price Crash Forum

roy?

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About roy?

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  1. People have the right to demand what ever they want for their properties. Likewise, potential buyers can offer what they feel is adequate. The problem i have is that buyer folk feel get all indignant and up in arms when sellers demand a specific sums for their property. Forgive me, but who in their right mind would price their property at an ‘affordable’ price so as to appease the buyer? Similarly, buyers would not pay 5k more to spare the vendors. If you don’t want to pay a specific price do not bid. The really pessimistic lurkers on this site need to understand that everything is relative and one day they too will be sellers. And they wll market the property according to what they feel is right. And this will correlate to expectations and sentiment. All is fair in love and war
  2. Your post is riddled with a racist undercurrent and there are times during this tirade you realise this and refrain. I don’t feel sorry for you. Why should I? You are a deluded man. Get married. Your wallowing and yet sanctimonious nonsense is troubling. Perhaps your partner will share the financial burden of your woes. Please explain why you are apportioning blame on the ‘ Somalian’ lady. The same demographic you clearly wished would flood the country at the onset of your depression. You work hard and she does not. Is that what you’re saying? Please tell me There are also inconsistencies in your tale. You say you are an above average earner – and have purchased an ex council property in an estate. It seems you have no dependants and have benefited from lodgers. How then can you plead poverty? Rhetoric notwithstanding, I simply cannot fathom why you are under the impression that as a British citizen, you assume a superiority position and blame the foreigner. Do you even know that 80% of benefit scroungers are of the white, native variety? But continue to blame the Somali lady for your plight. Ignore the fact this country is bereft of tangible resources, minerals and produces nothing. Add to that a population full of drunks and depressed folk. There is your real problem, not the presence of a lady who has come here to give her kids a better chance in life. Move on and find a wife. Maybe even a Somali one.
  3. The fact is when rates go up and they will, property will flood the market and the distressed sellers who have taken refuge behind cheap repayments, will be left out to dry. However, they will not reach 15% or even 8% as people here are dreaming. They will probably stutter towards 2-3 and hover there for a number of years. I think this will be enough to weed out those who have delayed selling and the many developers who have handed their properties to the local government to house the lazy. Those who have been prudent and practice sensible finances, avoid illogical borrowing, such as credit cards and loans, will survive. All others will struggle to cope and the country’s finances will be reset. As long as rates remain this low, no-one will be inclined to sell and the stand off between sellers and buyers will continue, save for a few cash buyers and rich folk who don't care either way, First time buyers are the driving force behind the upward movement of property prices. They remain in limited supply and will be squeezed out until one of the following takes place: Loan to Value rises to an average of 90% Wages increase by 10% Lending criteria is significantly eased. But no-one really knows. I always say if you can afford to buy, do so and if you cannot, don't. Stop waiting for prices to fall because no-one really knows if this will happen. If you are 35, with 1-2 children and are ready to buy, will you hold off for 3 years just to save 10k?
  4. This is not the place for good news. On here, purchasing or doing something positive is received with contempt and viewed with the most severe scepticism. I would advise against seeking validation from people who, from my observations, are clearly depressed. Now, i do not mean everyone, but those who have cast a negative doubt over a person who has bought a home. Depressed and bitter folk congregate here and round on anyone trying to make a buck. Whilst this site is, at times, a very informative facility, it also harbours the most deluded and frankly, acidic humans in this country. Anti profit and sad.I call them finger-pointers. Soceity's worst. You’ve done well. You do not need me to tell you. Likewise, you could do without a sanctimonious fool who has trolled the sites in a dark rook for the past decade, all the while blaming the world for everything and anything, criticizing your business decisions. House process may fall. They also might rise. So what? People will always need somewhere to live. I say if you could afford to buy, do so. If not, then don’t. Let’s not over complicate matters. Why put your life on hold for 3 years in the hope that you might save 10k?
  5. Why do you people always resort to insults no matter what? It’s easy to sling mud from the refuge of your dark, isolated room. Come up with something tangible-as soon as there is a dissenting viewpoint, you revert to type and to these tactics. That my comments have affected you to this degree is stunning. A sad, pointless existence you must lead.
  6. Look, in all seriousness, perhaps not thousands but several hundred. You only need to evaluate what it people spend on a night out in the City centres. My two points are that you can find a good investment in London provided you do your research and secondly, that despite this recession, drink is vast money is still being spent of drink and eating out. I know someone who purchased a studio flat in West London, achieving 11.80% return.
  7. If you do your research, and plan well, there is good money to be made from being both an investor and collecting a rental income. I know it's rare, but there are some studios in Greater London (west) that can be bought for less than 100k. Now, studios in West London can be let for between 650-750. This represents a good return and no-one can deny this. Sensible and prudent investment is necessary in everything, not just buying houses. People spend thousands eating out or drinking. Yet, they complain about houses prices being too much (which they are) but if you do the maths, the amount the average person spends on frivolous items such as alcohol, takeaway and gadgets, you could well be talking thousands a month. In any case, if house prices were to fall by another 30% as some people are seeking, then this will inevitably trigger another serious boom phase and they'll return once more to levels of 07. The question is: what will rise first, house prices or interest rates?
  8. Look, it all depends on location and individual circumstances. If you purchase a flat in London for 75k and let it out for 700 a month, is this not a fantastic deal? But to let is potentially a brilliant investment but you must be careful. You should avoid interest only and voids. This is what will kill you. There are opportunities to buy and collect a handsome return but you must be patient and do your research. The key is rental return and not reliance on capital gains, ala the sorry Wilsons. If you’re prudent, are sensible with money and have an excellent credit score, you can find a deal at 85% LTV.
  9. I very much agree with the comments about apportioning blame on the players as opposed to the rulers. And for those who believe the Wilsons are actually in overall negative equity, you are likely mistaken. Even if their net value is 2m, it makes them wealthier than most (probably all) people on this site.
  10. Stop quoting me and come up with something credible. It’s either insults or hostility towards dissenting viewpoints on this site. Yes the Wilsons were driven by greed, but this is that is capitalism. People want to make money and do what they can, within the law, to succeed. Further, do you actually have evidence that ‘ families’ were priced out the market? Making silly statements and being indignant about two individuals you know very little about indicates a foul bitterness. I urge you to make a valid point
  11. Debt isn’t wealth? They bought their homes in the early 90’s and 2000’s. Even if prices decline 50%, they will still have substantial equity. Let’s just be realistic and accept it. They are wealthy. One minute people are saying when inflation arrives, it will destroy the pound, yet the very same people will continue to pour scorn on those involved in property. If there are any people in this site who genuinely deny the Wilsons’ wealth, I for one will be stunned.
  12. It makes no sense. How did the Wilson’s price local family out of the market? This is ridiculous.
  13. It’s very easy to impugn people like the Wilson’s but how many people would turn down the opportunity to possess such wealth? Even the most conservative estimate makes them multi millionaires. There ought to be a balance in making views and less vitriol towards anyone who has made money from property. They were brave enough to deviate from their ‘comfortable’ lives as teachers and gamble everything. I do, however, find it insulting and indignant that he is denouncing flats as being for poor people and tenants. I found this odd given all his houses are tenanted. Further, he is deluded if he thinks prices fell in the middle of 08 and have since recovered to their pre-decline levels. This is simply untrue. In Kent, prices have fallen and have not made any real recovery. Ultimately, I would refrain from proclaiming any such persons who have made 100’s of millions as ‘think’ or ‘stupid’. We’d all swap bank accounts given the chance.
  14. I am merely stating that the underlying factors that drive both economies are very distinctive. There is a massive service sector here. It’s finance based and as such, more susceptible to fluctuations. The Yen has been globally exploited for much of the past 15 years. Yes, sterling is due to take a beating, but I doubt it will ever be an international carry trade to the same extent. This needs to happen if we are to see 20 years of nominal stagnation (and real time declines). But please do not quote me, it’s pure conjecture on my part. No-one really knows.
  15. No, people should dispel this myth that the prices here will mimic Japan. They are not obsessed by property. It’s only remotely linked to their economy. In this country, there will always be boom and bust in property. They produce things and we use those items, purchased with fiat currency. No similarities and no price stagnation for a generation.
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