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House Price Crash Forum


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About MarkWeston

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  1. Well, then that Either way, they need to default and to default they need to be able to issue their own currency. I doubt they will be allowed to stay in the EZ officially if they issue their own currency... BUT.. I think there may be enough sympathy for their plight that they will fairly quickly be conducting business with the EU again.
  2. There are only so many times I can be polite and try to get on your good side. You've clearly made up your mind about me and like most humans you won't be changing it again. I'll be wasting my time with any further discussion, right?
  3. I came here because most other property forums on the net are dedicated HPI acolytes and not willing to think of anything different. I didn't come here to just be the opposite of that, a dedicated HPC acolyte. I came here to discuss and learn from people who are willing to be open minded, even if that means admitting they may be wrong. Errrm.... (and yes, I realise I am replying to a post not addressed to me, it doesn't make me a troll under two accounts)
  4. I know, I still often feel like I've made a huge mistake, but I explained why and I don't expect sympathy in a crash (it would be nice if people didn't gloat though, I'm not some OO gloating over my unearned gains). Like I say, if I was younger, I would not have bought, it was my age. I'm unwilling to give exact location but it is in SW London. You can find 3 bed houses in a few areas here that are close to transport for a cost less than half that of, say, Wimbledon. I don't say this makes them good value in real terms, but only relative to other (ludicrously priced) areas.
  5. Please don't take my advice for this. My advice to myself since early 2000s has been terrible, choosing not to buy. In the end, I ran out of time to wait due to age and decided to cave in and buy last year. So yes, if my luck is anything to go by, you can bet 2014 was the peak of house prices and the only way is down from here. I evaluated my thinking and decided that I could not predict anything, and my thoughts had been wrong so far. I also decided that interest rates would stay low for longer than people thought. But, being risk averse all my life, I had to mitigate that decision. After a lot of research I decided on an area that I thought was under-priced *relative* to other areas surrounding it. It is not a glamorous area but it is close to nice areas. I offered under asking on a lot of houses until I got one that I thought was going for less than the general price at the time. All of this was a compromise on what I always wanted but like I say, I am risk averse and wanted to minimise losses from a crash rather than go for massive debt and try to gain from HPI. I resent all the previous governments for making the housing market a casino. My repayments are way under what rent would be, and would reach rent prices at around 5% interest rates. I have kept cash reserves. I have also taken some tips from one of the HPC posters blogs (retirement investing today) and cut my expenses, started saving even harder. So I have a fairly reasonable safety net with which I can pay down a large chunk (I made sure to get a mortgage that allowed) in the event of large rate rises. So, I could end up with an asset that is worth less than I paid, but there is an upside to that too. It means I could probably afford to move to a nicer place since they will have come down by an even bigger amount. That was my strategy and thought process. I do not advocate this because I will be accused of being a troll or VI. But you did ask
  6. It is mathematically impossible for houses to continue to rise above wage and general inflation. I just don't know when the point will come that they correct If I knew that, I'd also be rich, and so would you.
  7. No, I'm probably similar to a lot of people here. My history for not buying starts back in the early 2000s when I first earned enough to afford to do so. I get incredibly angry when I think of the wealth transfer. But my anger achieves me nothing, I need to understand if I'm going to continue to be wrong or not and position myself accordingly.
  8. I was burned by this thinking. Now I want to understand why I was wrong and adjust my actions appropriately. I still lean towards a crash or correction at some point but in the absence of an external event, my belief is that any correction will be minor and not enough for my liking. BUT, an external event is inevitable at some point, I just don't know when that point is.
  9. I agree, this is what happens, I just don't think it is the best way to approach it, and specifically not from posters here. You don't really learn more this way and it doesn't seem to help anyone. I'm here to learn.
  10. Agree. I posted content that sounded inflammatory against the Greek people but was only meant as a counterpoint against the venom against the Germans from several posters here. Like you I just don't think this is the correct way to approach the problem. For one thing, I can assure you, playing the blame game and posting venom will only entrench opposing views more strongly and from this, no-one wins. This is the politics of hate and without wanting to use hyperbole, it is actually pretty dangerous.
  11. Thank you for those, informative. I also enjoyed the way the articles (mostly) approached the issue. I don't feel that they're passing as much judgement as some of the posters here. Explaining and examining the reasons for the decision, while disagreeing with them from an economic and moral viewpoint. I'm quite open to change my mind when presented with facts.
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