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Everything posted by Downtraded

  1. Eric, please repeat until you understand and do something about it ........... "If I'm so smart, how come I ain't rich?"
  2. Thats interesting - Lets say that IR increases in 4 years time with inflation and continues to do so. In ten years, People will probably look back on what you've done and wonder why they didn't do the same when they has the chance. i.e. they "missed the boat" of low IR. In the end, its not about winning or losing - its about doing the best you can
  3. Read an article on the front page http://www.moneyweek.com/blog/there-are-fewer-homes-for-sale-in-britain-than-you-think-12901 It got me thinking about when someone should buy. Its not only about location (London, suburbs) If you exclude London.... If you have 100% funds, then the ideal time to buy is when you see a fire sale of properties - Sellers racing to the bottom to get shot of their property and you buy in November (IR gone up perhaps - unemployment rife). The question is when will that happen? it might not! However, if all you have is a 20% deposit, the timing above is not correct. The buyer has to take account of the availabilty of affordable mortgages in the near term. Now the problem here, is that current IR is low and so mortgages are artificially low and affordable. They may not be soon though. It may be that the firesale mentioned above still shuts out the "deposit" buyer because the mortgage cost is too high (that's why they are selling init?) It doesn't suprise me that London prices are holding firm. I personally think they won;t go down much more. As for everywhere else? I personally think no less than 10% in the next 5 years. If that is the case - why are people waiting?
  4. What do you want then? The problem you face is not HPI - its your depressed view on things. Start today - Here's your list of priorities 1) Money - Get out of all debt - Build up ISA tax free savings every year (never spend it) 2) Health (to stop your depressive thoughts) - Regular exercise - Stop drinking (and anything else) for a month. 3) Work - Stop working hard (get home early every night) 4) Get a hobby / interest 5) Forget about trying to get a girl/boyfriend - they will come to you if you're interesting enough 6) Move out of your parent's house - you pathetic mummy's boy. 7) Think about what you wanted to do as a boy (be a fireman / travel the world?) and DO IT. Lastly, don't think about "planning" your future. You will lose the next 10 years "paddling water" before you know it. Then you really will have reasons to be depressed. My guess is that you've past stage 1. If that is the case, do you really deserve any sympathy? I don't think so. IMO, its just your own skewed ideas of what to do with your life that's wrong. You're measuring your yourself against the perceived "success" of others WTF? Why not measure yourself on what YOU want to do. If you are so vacuous not to be different with visions of what you want to do....well god help you.
  5. I'm going to say this because its for your own good. STOP BEING SUCH A LOSER. So many excuses and "woe is me". Not only is it sickening, its pathetic - stop taking the weekend drugs and GROW UP. TBH when I read that you lost money on shares, I laughed at your greedy "I'm a businessman" stupidity. IMO, serves you right for trying to "get rich quick" Who cares anyway if you lost a bit of money - its not a big deal - Stop thinking its the end of the world - you've still got 2 eyes,legs, hands etc? Anyway, If your life is such an average F*kup, why not grow some balls and DO SOMETHING ELSE INSTEAD!!!! Go to another country, try Oz, America - Anything - just get off your fat **** and stop looking at the floor or the trails behid you. If you're so crap at your job that you can't get paid well, DO SOMETHING ELSE INSTEAD!!!! What the F*ck have you got to lose? What hae you got to lose?
  6. There's loads of different boats coming and going all the time. Its not all doom and gloom
  7. In London, during the 80s, people were renting single rooms in one house, and it cost a fortune. Dining room, lounge, study as well as all the bedrooms being filled. If anything, its easier today than it was then. It has always been the same thing - get on the housing ladder as early as you can and stick with it until its paid off. Everyone else is doing that, so you have to. Welcome to the treadmill
  8. Whatever you say captain! Meanwhile, get back to work to pay for my retirement and pension. Whatever happens to the 50/60 generation will be much better than what happens to you in old age.........
  9. I think you're looking at it the wrong way round. 7/8 of housing stock is currently OK. It was 1 in 10 last time that had neg equity - that situation endured fine for a 10 years. What's so different now? Sure the IR is lower today - but the same thing will repeat - it always does. The difference today is that current home owners are starting to pay less in a mortgage than the equivalent rent. If the same thing happens again - thats 10 years of low IR and then 15 more years before the house is fully paid for.....
  10. That not what I'm trying to say. Everyone has the right to buy or not to buy, to negotiate or not. The morality part for me is the extra step where you wish harm on others for no other reason than for your personal profit. That kind of thinking eats at the soul and no good can become of it. Put it this way, wishing ill generally of "Home owners" is not the same as finding out about the personal circumstances of a particular home owner and driving a hard bargain. Whilst the first one I personally despise, because of the lameness of approach, the second one, I think nothing more than the buyer being business minded. However, you may see that making full use of the unlucky for personal gain is immoral. You may be right, but noone is forcing the seller to sell except the seller - thats his problem and the buyer's gain. Ironically, that is your potential postion ATM except you are too stupid to do your homework on finding distressed sellers and being ready for the kill. The reason? because you think you have plenty of time..
  11. The only part that could be indecent was the wishing for a crash to get worse so that you have personal gain. However, if you recognise that, you're well on your way to both sorts of riches IMO. Its dificult to explain rationally, but the common trait of all the rich people I know, is that they have a personal vision of what they are trying to do in life. Each one doesn't sit around "waiting for a crash". Not only that, I've found that if you do what you think is morally "right" - even if it currently doesn't seem in your best interests (i.e. moving/renting/selling/buying for your family needs), you will end up richer in the end. I'm not saying buying a house is morally right - just if it seems to be the right thing to do. ATM its the wrong thing to do just for the purposes of buying a house because you can (or cannot) Those that chase the money, usually lose it like trying to find the source of the rainbow. Why? because you can never be rich enough. Its rather like the old adage about earning £1.00. 99p = happieness and £1.01 = disaster. Sounds like Jai was on the right side there and in truth thats all we only ever need to learn when it comes to money. You've done OK up to now and I'm sure will continue to do so - Don't be hard on yourself - Always believe in yourself - there's too many who won't. The wealthiest people I know think like you do. You just haven't made it yet. If you start tommorow then the the world is a better place for you and everyone who's lives you touch .
  12. OK, you think you can "sit back" and all will come to you? Its a different thing to track HPC news than to actually buy a house you want to live in. When you say you've "stopped bothering". Why is that? What makes you think it will be different in 6 months time? IMO, the best houses are ones that rarely come up for sale, because people enjoy living there too much. Also, the houses considered desirable by most, almost always sell for more than you think they should. Like anything in life, If you're serious about something, don't mess about if you find it. If you're going to do something, then do it as efficiently quickly as you can - Snooze you lose is always valid - even in a slowdown like this. You should re-consider your "can't be bothered" attitude as nothing to smile about - its just a malaise on your part. That vapid grin is just you trying to justify slothful indecision - a character trait that will make you lose in the longterm. It might seem to you that you're "doing the right thing" with an illusion of bring in control at the moment, but the truth is, you are doing nothing....
  13. Just tell them "No thank you. my solicitor will deal with that after the offer has been accepted". Don't get annoyed - just smile and be dismissively assertive - that means saying the above quickly and pausing - forcing him to respond. You need to do with a smile but without a raised voice or sighing - Dead pan delivery work best. Do not see the IFA - it will be a total waste of your time and will only serve to obligate you to continue the sale. Not only that - it stops you going to other EAs. Its the same trick that car dealers pull.
  14. Sounds like a good plan - not because you have a great income, but because you plan to pay the debt off early and its a good bet that IR will be low for that time period. Also, If you're single, why not turn 5 years into 4 by renting out a room? However, when the house is fully paid, don't make the fatal mistake of moving "just because you can". IMO, you should stay with it for a minimum of a further 5 years rent/mortgage free and enjoy your life. I don't mean cars and fancy holidays - I mean saving even more with no financial worries. Don't consider the end game is a house owned outright - IMO, one should consider it as first base in your personal savings race. One day, you will be really lucky - (luck is where opportunity meets preparation). You will see a fantastic opportunity - it might be a new business or whatever. (A good life is healthy risk) Because you will have the readies at the right time, you wil be able to buy a bargain when all arround you can't raise the finance. That is when you will be glad you continued on your personal savings race. i.e. it doesn't stop when the house is fully paid for. Hope you stick to your plan - its just first base
  15. The trouble is that if you say something again and again - eventually you believe it will happen This idea of government is bordering on paranoia. Mate you need to wake up to what your current belief system is doing to you.
  16. This all hinges on houses collapsing in value - I don't think they will and so far I've seen nothing to prove otherwise. All I see/hear are scare stories. I remember a few year ago on this forum, people predicting 50% crash by 2009. What a load of rubbish that was and where are the posters now? If you look at the graph on the first page - what does it tell you? Back then I predicted a return to 2002 levels and house prices remaining flat for the next 25 years (effectively decreasing in real value). seems like so far, I've been proved right. Anway, this is not a pop at you - its a pop at anyone who keeps touting the "end is nigh" nonsense. Its got to the point that everyone is believing something because someone else does.
  17. Eh? 2 can play at that game - maybe you meant to say "manipulate". Anyways, the point was that location is important in the housing market. Also, no matter how many years you've been on the planet, you will find there are always people cleverer, younger, richer and have deeper pockets than you. Not only that - they want what you want - even in the current climate. The comment about "stealing from savers " - Don't make me laugh! Watch out - they're behind you!
  18. That is true - It would be interesting to see where the equity balance lies. My thoughts are that more poeple own homes that everyone wants to buy with a higher equity than people here would like to accept. I also think that there will be property carnege in the " I don't want to go there" areas. The "location" thing about houses is and always will be true.and this skews the market always.
  19. OK - the whole article is propaganda for a vested interest group to sell itself. The examples have been dumbed down so that "easy meat" like yourself can latch onto it. Here's a tip - It will make no difference to you or your future - you are a victim because as we all know - you like to blame others for your misfortune Here's an example: To understand the conundrum posed by a growing capital (debt) base and diminishing growth, we need to distinguish between two types of debt. These are termed ‘self-liquidating’ and ‘non-selfliquidating’ debt. If the owner of a successful restaurant borrows to invest in additional seating space, the debt is selfliquidating because it will be serviced and paid off from the higher income that the expanded restaurant will generate. But borrowing to pay for a new car or a foreign holiday is non-selfliquidating, because it is a form of consumption which does not leverage the borrower’s income. Though the parallels are necessarily less than exact, the sharp fall in Britain’s return on capital reflects the fact that the overwhelming bulk of new borrowings have been non-self-liquidating. IMO, you are not capable of being the sort of person who creates wealth - as the restaurant owner does. You are the sort of person who just buys a car and thinks someone else will "do the other to employ me"
  20. When your children look up to you and say "Can we go to Disneyland?" Do you say - " Sorry - I don't have the money - maybe another year" - "Yes why not" If its the later (I hope not) , one day you'll have to realise "If I'm so smart how come I ain't rich?". One another day it might be that you have to pay for an expensive private operation - maybe only then will it hit home. You can bury your head in the sand as much as you want to about this and that - but for it all to make sense, what you beleive has to be real and relative to you personally. Otherwise - its just a nice essay with no relevence don't you think?
  21. Yes - that's what my original post was about I have done and yes...I still think I'm right No-one has yet been able to say anything substantial (excepting the Arm.proj thread) about why I'm wrong. Lets wait and see eh? you go fretting about it and I'll keep on living
  22. Hmmm - When you have nothing to say, just make insults, sarcastic remarks and a lazy posting of a link to someone else's work. Iinstead of looking on the internet, try to have an independant point of view of your own. You are classic example of a sheeple and you don't even know it ;(
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