Jump to content
House Price Crash Forum
Not Long Now

This "must Buy Now" Peer Pressure....

Recommended Posts

OK,

Now I know that I'm a bit of a contrarian, and I've probably brought this on myself.

However, I am getting thoroughly fed up of this "look mate, they aren't going to fall any further" type crap.

One mate, who has just got a job working for "something" that pollutes us all (I won't mention the name on these pages for want of getting hate mail by association) has just told me "they wont be this cheap for years mate".

Has anyone got any tips for me to get through this little period (without resorting to physical violence)?

Edited by Not Long Now

Share this post


Link to post
Share on other sites
OK,

Now I know that I'm a bit of a contrarian, and I've probably brought this on myself.

However, I am getting thoroughly fed up of this "look mate, they aren't going to fall any further" type crap.

One mate, who has just got a job working for "something" that pollutes us all (I won't mention the name on these pages for want of getting hate mail by association) has just told me "they wont be this cheap for years mate".Has anyone got any tips for me to get through this little period (without resorting to physical violence)?

Quite right, they will be cheaper.

Share this post


Link to post
Share on other sites
OK,

Now I know that I'm a bit of a contrarian, and I've probably brought this on myself.

However, I am getting thoroughly fed up of this "look mate, they aren't going to fall any further" type crap.

One mate, who has just got a job working for "something" that pollutes us all (I won't mention the name on these pages for want of getting hate mail by association) has just told me "they wont be this cheap for years mate".

Has anyone got any tips for me to get through this little period (without resorting to physical violence)?

I have taken to telling people we are looking for land so we can build a house, something I would love to do but land is very scarce where we live so unlikely to find our dream plot. This will distract people as we head down the second leg, this will be the most fun (for bears) as many of the people who feel the need to pressurise you into buying into the pyramid scheme they have unfortunately bought into should be entering into the fear stage at this point.

The recent falls has taken off nothing more than the 05 onward bear trap froth, the meat is still to come.

If that does not comfort you look at these charts from Japan.

CO-JPP-F00.gif

japan-house-prices--nov08.gif

Edited by Confounded

Share this post


Link to post
Share on other sites
OK,

Now I know that I'm a bit of a contrarian, and I've probably brought this on myself.

However, I am getting thoroughly fed up of this "look mate, they aren't going to fall any further" type crap.

One mate, who has just got a job working for "something" that pollutes us all (I won't mention the name on these pages for want of getting hate mail by association) has just told me "they wont be this cheap for years mate".

Has anyone got any tips for me to get through this little period (without resorting to physical violence)?

Yes.

Bet them £50 that they are wrong.

If they don't take you up on the bet, mock them.

Share this post


Link to post
Share on other sites

It's just a gamble at the moment, If it's your money then why not, you can only lose some of it?

If it's the banks money then I wouldn't touch it with sibley's.

Edit for loose/lose. That seems to wind people up. <_<

Edited by XswampyX

Share this post


Link to post
Share on other sites

My young work colleague is under immense pressure from his parents (in particular) and mates to buy ASAP before "prices go back up". He became quite bearish thanks to sitting next to be, so he hasn't buckled just yet. All his mates though, have bought this summer thanks to massive deposits (usually around 40K) from their parents.

The only people I see buying are those with rich parents.

Edited by Turnbull2000

Share this post


Link to post
Share on other sites
NIGHTSHADE_SLEEP_EYE_MASK_ADJUSTABLE_ANATOMICALLY_CONTOURED_SLEEPING_EYE_MASK_ELIMINATES_ALL_DISTURBING_LIGHT_Soft_fabric_for_maximum_next_to_skin_comfort_o.jpgclassicfoam.jpg

See no evil, hear no evil ;)

:lol:

I have taken to telling people we are looking for land so we can build a house, something I would love to do but land is very scarce where we live so unlikely to find our dream plot. This will distract people as we head down the second leg, this will be the most fun (for bears) as many of the people who feel the need to pressurise you into buying into the pyramid scheme they have unfortunately bought into should be entering into the fear stage at this point.

The recent falls has taken off nothing more than the 05 onward bear trap froth, the meat is still to come.

If that does not comfort you look at these charts from Japan.

Thank you,

However, this whole thing is really getting me down.

I've had, in the past week (I'm not kidding):

1) Mother "I see house prices are booming again (c/o Daily Express :rolleyes: ) "You going to buy?"

2) Dad "These green shoots are everywhere. Make sure you buy now, especially while there is no stamp duty!"

3) Work colleague "They won't fall any further. You going to buy soon then? You must have a huge deposit" (FWIW: same girl laughed in Autumn 2007 when I said there would be a house price crash.

4) Mate "Seriously mate, they aren't going to be this cheap for years"

5) Brother. Continual comments over the last 6 months trying to batter me into buying (incidentally, he said the same thing in March last year "they won't fall").

It's all really getting on my tits now to be honest.

Edited by Not Long Now

Share this post


Link to post
Share on other sites
OK,

Now I know that I'm a bit of a contrarian, and I've probably brought this on myself.

However, I am getting thoroughly fed up of this "look mate, they aren't going to fall any further" type crap.

One mate, who has just got a job working for "something" that pollutes us all (I won't mention the name on these pages for want of getting hate mail by association) has just told me "they wont be this cheap for years mate".

Has anyone got any tips for me to get through this little period (without resorting to physical violence)?

My experience is the opposite - people were very vocal about us buying in 2007 but seem much more subdued. We're occasionally asked if and when we will and my response is quite diplomatic - yes we will but only when the time's right for us. Of the other people we know who didn't buy in the madness, no-one's interested any more. Prices in this part of SW London have for the large part held up - still 1/2 million for a terraced house in some of the nicer areas.

We're still quite adamant on what we want - a house with a garden rather than a flat and definitely not on a main road. Also we have to be able to afford it on a single income, factoring interest rates of about 8%. I can work from anywhere remotely and the OH would be prepared to relocate to a different part of the country. Whatever, we're quite happy to rent until prices start coming down and if they don't, we will continue to rent.

Share this post


Link to post
Share on other sites

It kinds of reminds me of the way smokers will badger a mate who has given up, trying to get them hooked again. Maybe the reality is that you holding out is like a broken mirror or a black cat- perhaps they're afraid you will jinx the market and bring on more HPC :P

Share this post


Link to post
Share on other sites
:lol:

Thank you,

However, this whole thing is really getting me down.

I've had, in the past week (I'm not kidding):

1) Mother "I see house prices are booming again (c/o Daily Express :rolleyes: ) "You going to buy?"

2) Dad "These green shoots are everywhere. Make sure you buy now, especially while there is no stamp duty!"

3) Work colleague "They won't fall any further. You going to buy soon then? You must have a huge deposit" (FWIW: same girl laughed in Autumn 2007 when I said there would be a house price crash.

4) Mate "Seriously mate, they aren't going to be this cheap for years"

5) Brother. Continual comments over the last 6 months trying to batter me into buying (incidentally, he said the same thing in March last year "they won't fall").

It's all really getting on my tits now to be honest.

All the above is a great sign that you are in fact correct.

Share this post


Link to post
Share on other sites
It kinds of reminds me of the way smokers will badger a mate who has given up, trying to get them hooked again. Maybe the reality is that you holding out is like a broken mirror or a black cat- perhaps they're afraid you will jinx the market and bring on more HPC :P

If anything, the whole thing has convinced me further (if it was needed) that the whole housing nonsense is just a huge Ponzi / pyramid selling scam. The "greater fool theory" underpinning the whole sorry mess.

If they think I am a fool, they can fkuc off.

Edited by Not Long Now

Share this post


Link to post
Share on other sites
:lol:

Thank you,

However, this whole thing is really getting me down.

I've had, in the past week (I'm not kidding):

1) Mother "I see house prices are booming again (c/o Daily Express :rolleyes: ) "You going to buy?"

2) Dad "These green shoots are everywhere. Make sure you buy now, especially while there is no stamp duty!"

3) Work colleague "They won't fall any further. You going to buy soon then? You must have a huge deposit" (FWIW: same girl laughed in Autumn 2007 when I said there would be a house price crash.

4) Mate "Seriously mate, they aren't going to be this cheap for years"

5) Brother. Continual comments over the last 6 months trying to batter me into buying (incidentally, he said the same thing in March last year "they won't fall").

It's all really getting on my tits now to be honest.

What you are describing above is the latency of the biggest bubble in history. People have to relearn the World they live in, it takes time for the majority.

Share this post


Link to post
Share on other sites
I have taken to telling people we are looking for land so we can build a house, something I would love to do but land is very scarce where we live so unlikely to find our dream plot. This will distract people as we head down the second leg, this will be the most fun (for bears) as many of the people who feel the need to pressurise you into buying into the pyramid scheme they have unfortunately bought into should be entering into the fear stage at this point.

The recent falls has taken off nothing more than the 05 onward bear trap froth, the meat is still to come.

If that does not comfort you look at these charts from Japan.

Hey, that 2nd chart is something! And Japan used QE, I believe, and nearly zero interest rates!

Share this post


Link to post
Share on other sites

Tell them renting is the "in" thing, it says so in the highly respected Nuts magazine*

*made that up, but they should fall for that

Share this post


Link to post
Share on other sites
:lol:

Thank you,

However, this whole thing is really getting me down.

I've had, in the past week (I'm not kidding):

1) Mother "I see house prices are booming again (c/o Daily Express :rolleyes: ) "You going to buy?"

2) Dad "These green shoots are everywhere. Make sure you buy now, especially while there is no stamp duty!"

3) Work colleague "They won't fall any further. You going to buy soon then? You must have a huge deposit" (FWIW: same girl laughed in Autumn 2007 when I said there would be a house price crash.

4) Mate "Seriously mate, they aren't going to be this cheap for years"

5) Brother. Continual comments over the last 6 months trying to batter me into buying (incidentally, he said the same thing in March last year "they won't fall").

It's all really getting on my tits now to be honest.

I don't want to criticize your family members, but god.. who's side are they on?

I know how you feel. Same position myself.

I'm taking the view, that if the person saying these kind of things failed to see the bubble building in the first place, they really aren't worth listening to. It was after all, the biggest speculative bubble in the history of mankind.

It was going for a good ten years! Just wait until the next General Election. Then we'll all see just how bad things really are.

Share this post


Link to post
Share on other sites

It kinds of reminds me of the way smokers will badger a mate who has given up, trying to get them hooked again. Maybe the reality is that you holding out is like a broken mirror or a black cat- perhaps they're afraid you will jinx the market and bring on more HPC :P
I did read that junkies sometimes do the same when one of their number goes 'clean' (i.e. gives up drugs). Misery loves company, it seems.

Share this post


Link to post
Share on other sites

The people who are now telling me it's a good time to get on the ladder (because houses won't go down anymore) are the same ones who laughed in my face before any crash started. You're missing the boat, they said.

Of course, now, they all knew that the bull market was unsustainable and the crash had to happen, and they can't remember the arguments we had back then. In fact, I've had some people try to tell me that it was them warning me! I at least have some proof of my opinions, historically, having posted here since 2005 and earlier (on the old site).

I do have that warm inner glow of smugness that comes from being proved right - but still I sometimes want to scream.

Share this post


Link to post
Share on other sites
I don't want to criticize your family members, but god.. who's side are they on?

I know how you feel. Same position myself.

I'm taking the view, that if the person saying these kind of things failed to see the bubble building in the first place, they really aren't worth listening to. It was after all, the biggest speculative bubble in the history of mankind.

It was going for a good ten years! Just wait until the next General Election. Then we'll all see just how bad things really are.

Good point.

I think the people who are trying to induce me to buy generally give off two types of vibes:

1) "You could get left behind if you don't jump in now". I would hope that this is the one my family are more concerned with - even if they are wrong ;)

2) However, the more telling vibe I get is one of "why isn't he doing the same as us?" " what does he know?" I really get the feeling that me not buying a house makes some people feel distinctly uncomfortable.

I have never been one to follow the crowd. I always stick to my guns. However, I do really feel that alot of people are trying to induce me to make a very bad financial decision that only I will have to live with.

Share this post


Link to post
Share on other sites

It's your money and your life, thank them for their advice, acknowledge their concern and then do what the bl00dy hell you want to. Right or wrong you're the one that's going to have to live with it. It get's me that everyone is an expert on everyone's life but their own.

Share this post


Link to post
Share on other sites
The people who are now telling me it's a good time to get on the ladder (because houses won't go down anymore) are the same ones who laughed in my face before any crash started. You're missing the boat, they said.

Of course, now, they all knew that the bull market was unsustainable and the crash had to happen, and they can't remember the arguments we had back then. In fact, I've had some people try to tell me that it was them warning me! I at least have some proof of my opinions, historically, having posted here since 2005 and earlier (on the old site).

I do have that warm inner glow of smugness that comes from being proved right - but still I sometimes want to scream.

Similar situation in the late 1980s - 'you're renting, you POOR THINGS' get on the ladder now before it's too late!'

Three of four years later it was 'you're renting, you LUCKY BASTARDS'.

Share this post


Link to post
Share on other sites
the more telling vibe I get is one of "why isn't he doing the same as us?" " what does he know?" I really get the feeling that me not buying a house makes some people feel distinctly uncomfortable.

It does, but I don't think it's "what does he know?" i suspect it's more like "what's wrong with him?".

Kind of like the way people react to someone who is teetotal. What do mean you don't drink? At all? Why??! could be rephrased: You haven't bought a house yet? You don't WANT to?! Why not?!!

It's almost an adult form of playground teasing, and giving in to it age 33 is no better than giving in at age 13. Stick to your convictions - but do always listen to everyone's opinion. You never know when a wise nugget will appear.

Share this post


Link to post
Share on other sites

Create an account or sign in to comment

You need to be a member in order to leave a comment

Create an account

Sign up for a new account in our community. It's easy!

Register a new account

Sign in

Already have an account? Sign in here.

Sign In Now

  • Recently Browsing   0 members

    No registered users viewing this page.

  • The Prime Minister stated that there were three Brexit options available to the UK:   295 members have voted

    1. 1. Which of the Prime Minister's options would you choose?


      • Leave with the negotiated deal
      • Remain
      • Leave with no deal

    Please sign in or register to vote in this poll. View topic


×

Important Information

We have placed cookies on your device to help make this website better. You can adjust your cookie settings, otherwise we'll assume you're okay to continue.