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Daft Boy

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Everything posted by Daft Boy

  1. Just for interest I had an IO mortgage froma top provider without the need to provide an investment vehicle in the early seventies so they are nothing new. I found the graph in the first post interesting. My only doubts are that the average house price has increased by 100% over the last ten years. If average earnings have also increased 100% over the last ten years I would be very very suprised. Even if they had then net pay would have only increased by 50% over the period. IR changes have been insignificant over the same period. For affordabilty to have remained the same as it was ten years ago then the average wage would have needed to increase by 200% today. The average wage today is £26K. I don't remember the average wage being only £6500 in 1997. Please correct me if I am wrong because I am a bit out of touch with todays wages due to being out of work.
  2. This is far too short a time span for the FTSE 100 to be meaningful. Better to look at at least a period of a year to get a better picture. it can then be seen that any correction to below 6K is not out of the ordinary. It also shows more clearly just how volatile the market is. Avoid at all costs unless it dips to below 5500 then buy in.
  3. and with the US on the brink of a recession next week will prove interesting for equities. The markets have not yet recovered from the huge losses of seven years ago. When they say stay in for the long term they must mean twenty years just to break even at this rate. Going down.
  4. Beware the ides of March. Brown is the new black this season
  5. It was all a bit over my head I must admit I think I will buy one of them £20million houses and get a free vacuum to suck up some little houses. Need to go for my medication now.
  6. RB I think you have crystal balls....this is the future IMO
  7. I could not agree more. I never cease to be amazed that people are so arrogant to think that we can in way shape or form control mother nature. She always ensures that a correction occurs at the required time in the best interest of the planet. We are all insignificant believe it or not(yes even those of you who think you are important in the overall scheme of things and deserve to live for ever).
  8. Mmmmm...I smell a rat here. I suspect that you are trying to off load your properties in Sydney to some poor sucker whilst the property prices in Sydney are in freefall.
  9. ....and don't forget that all those retired public employees who are on an index linked featherbed pension that the rest of us are paying for are getting an increase of 3.6 % from this april. So its swings and roundabouts in the public sector. The country must be awash with money so relax. Lets all work a little bit harder to support them.
  10. Oh dear.......are there really so many thickos on this site. All the daft boys cashed in all their equities last december. Only the halfwits are hanging on to equities in the uk, europe, us , japan, china and south east asia. If you want to cash in on the impending house crash in the uk you need all your cash sitting in an high interest account ready and waiting. If you think that house prices will crash in isolation you do not deserve to be able to buy in to the market. I give up. :angry:
  11. It is the same guy. Not quite sure what the "con" is though. I would never recommend anyone to buy in Bulgaria today as an investment. In fact I agree with everything you say. If you didn't buy three or more years ago in the right location you missed the boat. The thread was about someone wanting to sell not buy in Bulgaria. I know its hard to believe but in fact there is a healthy property scene out in Bulgaria.There is a lot of money floating around over there. Bulgaria is a really nice place to visit but its just not for me and I would never buy there even at the prices of three years ago. I would not buy in Britain at the moment either.
  12. My friend and I went out to Bulgaria three years ago and he bought a property with 2500 square metres of land overlooking the black sea (Karmen Bryag) for £18000. He sold it this year to a resident Bulgarian for £106000. Perhaps the exception proves the rule. Perhaps you know better.
  13. Hi, this is my friends website. He is highly recommended. I have been out to BG many times over the last four years with him. He has an office in Varna and has a great reputation. Tell him Alan sent you. Best wishes. http://www.bulgarian-villa.com/
  14. Well said mattpascoe. I am that man and I intend to . Being single puts me in the enviable position where the girls are only interested in getting into the bed I am in rather than the location of the bed so its no prob to STR . I accept that it is a different situation for nesters. For them the old adage "buy to nest in not invest in" is sound advice. I might be daft but not as daft as I look. I have only bought three houses over the last forty years. I only buy at the bottom of the market and STR at the top. I have a 100% track record using a simple formulae. I was able to retire at the ripe old age of 47 some 14 years ago on a private income because of it and some great investments. My track record speaks for itself. On 12th december I cashed in all of my peps, isas and other investments built up over the last twenty years and put the money in high interest internet accounts. The reason for this was experience, something you cannot buy. The global markets have generally had a three year bull run that has run out of steam. Sell on the up and let the next mug have a little profit before the correction comes along this year. I bought my first house in 1967 for £2000. It was two years old and had been bought for £2499 when new. It was STR in 1974 for £18000. In 1977 I paid £11500 for a new build that had been on the market for £27500. I STR that in 1989 for £89000. I had twenty two couples chasing after that. I laughed all the way to the bank. I decided to live virtually rent free on my 40 foot boat and wait for the correction in the property market. In early 1994 I bought my existing property for £59000. It had been bought new in 1988 for £92000. In 1989 it was "valued" at £98000. At the moment it is paid for and "valued" at £220000. Now don't get excited but I am about to put my house on the market to STR because I know that the house is worth more today than it will be for at least the next ten years.I know the time has come again. I have never been wrong but thats the problem with being a daft boy and keeping things simple. I will again sit tight for four or five years and buy back in at the bottom again. Do your homework but keep it simple. Find the price of the building plot in pounds per square metre for the type of house you are seeking. Find the cost of a new build on the plot provided in pounds per square metre. Add the two together. That is the present true core cost of the property and will be mirrored in house price graph shown on this site. Buy below the line and you have a bargain. Buy above the line and you are paying for fresh air so beware. The more fresh air you purchase the bigger your problem. Never ever buy a a leasehold apartment because the plot and build price are always distorted . Thats why developers build them to maximise profit at your expence. Property is never an investment in the long term unless you buy low and sell high. In the long term average property prices only stay in line with average income. -------------------- In the dark depths of the lunatic asylum the daft boy is king.......Shakespeare
  15. Interesting point that you made about waterside properties. Down my way there is a large exclusive apartment complex of waterside apartments nearing completion. During last summer there was a large hoarding on the front saying "45% sold ". The sign quietly disappeared last December. When I went into the local EA and showed interest in the development and enquired on availibility I was told I could take my pick at the moment because work was still in progress. Someones telling porkies
  16. hi Come on Down, With t*ts like that i will get you a double. I sincerely believe that things must return to average earnings multiples base line because of affordabilty. IR is still being controlled IMO by the amounts being borrowed. 6% being paid on 150k today by someone on average earnings is the equivalent amount of 15% being paid by someone paying 6% on the average mortgage of 50k ten years ago after taking into account the increase during that time of average pay. This insiduous control is influenced by economies of scale. Any double digit base IR on a 150k loan would prove impossible to meet with the net pay of a single individual on todays average earnings. Result would be meltdown. The balancing act between average earnings , IR and the amounts being borrowed is critical. IMO average earnings are always the controlling factor in the equation.
  17. Nice one GOM . Your "data source" nicely illustrates as they say, bullsh*t baffles brains. As you get older its best to get wiser . Financial advisors and economists who still need to work for a living can't be much good at the job can they .
  18. I fully agree. Just enough to find the last mug to buy my house at the peak. With the size of the losses looming its such a pity that you can't put an old head on the many young shoulders out there. I know that you can learn from experience but its going to be so painfull at these levels.
  19. Hi Tuffers, Actions speak louder than words don't they. In the kingdom of the blind everyone takes one step at a time for their own safety. A lunatic asylum is IMO a more apt description of Britain at the moment.
  20. Hi Guys, i think you all need to chill and move away from your screens and start walking the streets. The long awaited house price correction started around october 2006. Forget the hype You are all being far to clinical in your reading of the markets. Over the last 40 years no one has ever understood why the corrections happen. There are always loads of "experts" after the event but never none before. Forget IR and statistics because they have no bearing whatsoever. Save your energy and stop bloody analysing. I might be daft but not as daft as I look. I have only bought three houses over the last forty years. I only buy at the bottom of the market and STR at the top. I have a 100% track record using a simple formulae. I was able to retire at the ripe old age of 47 some 14 years ago on a private income because of it and some great investments. My track record speaks for itself. On 12th december I cashed in all of my peps, isas and other investments built up over the last twenty years and put the money in high interest internet accounts. The reason for this was experience, something you cannot buy. The global markets have generally had a three year bull run that has run out of steam. Sell on the up and let the next mug have a little profit before the correction comes along this year. I bought my first house in 1967 for £2000. It was two years old and had been bought for £2499 when new. It was STR in 1974 for £18000. In 1977 I paid £11500 for a new build that had been on the market for £27500. I STR that in 1989 for £89000. I had twenty two couples chasing after that. I laughed all the way to the bank. I decided to live virtually rent free on my 40 foot boat and wait for the correction in the property market. In early 1994 I bought my existing property for £59000. It had been bought new in 1988 for £92000. In 1989 it was "valued" at £98000. At the moment it is paid for and "valued" at £220000. Now don't get excited but I am about to put my house on the market to STR because I know that the house is worth more today than it will be for at least the next ten years.I know the time has come again. I have never been wrong but thats the problem with being a daft boy and keeping things simple. I will again sit tight for four or five years and buy back in at the bottom again. Do your homework but keep it simple. Find the price of the building plot in pounds per square metre for the type of house you are seeking. Find the cost of a new build on the plot provided in pounds per square metre. Add the two together. That is the present true core cost of the property and will be mirrored in house price graph shown on this site. Buy below the line and you have a bargain. Buy above the line and you are paying for fresh air so beware. The more fresh air you purchase the bigger your problem. Never ever buy a a leasehold apartment because the plot and build price are always distorted . Thats why developers build them to maximise profit at your expence. Property is never an investment in the long term unless you buy low and sell high. In the long term average property prices only stay in line with average income. All you bears will be right on for the next five years then it will become the turn of you bulls again. -------------------- Buy to nest in not invest in -------------------- In the dark depths of the lunatic asylum the daft boy is king.......Shakespeare
  21. Hi Guys, i think you all need to chill and move away from your screens and start walking the streets. The long awaited house price correction started around october 2006. Forget the hype You are all being far to clinical in your reading of the markets. Over the last 40 years no one has everstood why the corrections happen. There are always "experts" after the event but none before. Forget IR and statistics because they have no bearing whatsoever. Save your energy and stop bloody analysing. I might be daft but not as daft as I look. I have only bought three houses over the last forty years. I only buy at the bottom of the market and STR at the top. I have a 100% track record using a simple formulae. I was able to retire at the ripe old age of 47 some 14 years ago on a private income because of it and some great investments. My track record speaks for itself. On 12th december I cashed in all of my peps, isas and other investments built up over the last twenty years and put the money in high interest internet accounts. The reason for this was experience, something you cannot buy. The global markets have generally had a three year bull run that has run out of steam. Sell on the up and let the next mug have a little profit before the correction comes along this year. I bought my first house in 1967 for £2000. It was two years old and had been bought for £2499 when new. It was STR in 1974 for £18000. In 1977 I paid £11500 for a new build that had been on the market for £27500. I STR that in 1989 for £89000. I had twenty two couples chasing after that. I laughed all the way to the bank. I decided to live virtually rent free on my 40 foot boat and wait for the correction in the property market. In early 1994 I bought my existing property for £59000. It had been bought new in 1988 for £92000. In 1989 it was "valued" at £98000. At the moment it is paid for and "valued" at £220000. Now don't get excited but I am about to put my house on the market to STR because I know that the house is worth more today than it will be for at least the next ten years.I know the time has come again. I have never been wrong but thats the problem with being a daft boy and keeping things simple. I will again sit tight for four or five years and buy back in at the bottom again. Do your homework but keep it simple. Find the price of the building plot in pounds per square metre for the type of house you are seeking. Find the cost of a new build on the plot provided in pounds per square metre. Add the two together. That is the present true core cost of the property and will be mirrored in house price graph shown on this site. Buy below the line and you have a bargain. Buy above the line and you are paying for fresh air so beware. The more fresh air you purchase the bigger your problem. Never ever buy a a leasehold apartment because the plot and build price are always distorted . Thats why developers build them to maximise profit at your expence. Property is never an investment in the long term unless you buy low and sell high. In the long term average property prices only stay in line with average income. All you bears will be right on for the next five years then it will become the turn of you bulls again. -------------------- In the dark depths of the lunatic asylum the daft boy is king.......Shakespeare
  22. Hi Guys, i think you all need to chill and move away from your screens and start walking the streets. The long awaited house price correction started around october 2006. Forget the hype You are all being far to clinical in your reading of the markets. Over the last 40 years no one has everstood why the corrections happen. There are always "experts" after the event but none before. Forget IR and statistics because they have no bearing whatsoever. Save your energy and stop bloody analysing. I might be daft but not as daft as I look. I have only bought three houses over the last forty years. I only buy at the bottom of the market and STR at the top. I have a 100% track record using a simple formulae. I was able to retire at the ripe old age of 47 some 14 years ago on a private income because of it and some great investments. My track record speaks for itself. On 12th december I cashed in all of my peps, isas and other investments built up over the last twenty years and put the money in high interest internet accounts. The reason for this was experience, something you cannot buy. The global markets have generally had a three year bull run that has run out of steam. Sell on the up and let the next mug have a little profit before the correction comes along this year. I bought my first house in 1967 for £2000. It was two years old and had been bought for £2499 when new. It was STR in 1974 for £18000. In 1977 I paid £11500 for a new build that had been on the market for £27500. I STR that in 1989 for £89000. I had twenty two couples chasing after that. I laughed all the way to the bank. I decided to live virtually rent free on my 40 foot boat and wait for the correction in the property market. In early 1994 I bought my existing property for £59000. It had been bought new in 1988 for £92000. In 1989 it was "valued" at £98000. At the moment it is paid for and "valued" at £220000. Now don't get excited but I am about to put my house on the market to STR because I know that the house is worth more today than it will be for at least the next ten years.I know the time has come again. I have never been wrong but thats the problem with being a daft boy and keeping things simple. I will again sit tight for four or five years and buy back in at the bottom again. Do your homework but keep it simple. Find the price of the building plot in pounds per square metre for the type of house you are seeking. Find the cost of a new build on the plot provided in pounds per square metre. Add the two together. That is the present true core cost of the property and will be mirrored in house price graph shown on this site. Buy below the line and you have a bargain. Buy above the line and you are paying for fresh air so beware. The more fresh air you purchase the bigger your problem. Never ever buy a a leasehold apartment because the plot and build price are always distorted . Thats why developers build them to maximise profit at your expence. Property is never an investment in the long term unless you buy low and sell high. In the long term average property prices only stay in line with average income. All you bears will be right on for the next five years then it will become the turn of you bulls again.
  23. Hi Guys, This is my first post . I hope to make a positive and meaningful contribution to this interesting and informative site.
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