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House Price Crash Forum

Sheeple's Btl Addiction Can't Be Stopped


david m
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I imagine we can't get figures on the amount of leverage going on, and I think this amount of leverage is unique to this housing bubble amongst Joe Punter.

yep

Warren Buffet's words 'if you have an IQ over 120 it is wasted working in investment' ring true

first rules of investment:

(1) do not throw all your money on an unlit pire

(2) do not borrow lots more money and throw that on the same pire

(3) do not set light to said pire

(4) do not invite all your friends round to watch

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... don't you think we are at "peak/lose money"?

by definition tho the peak is the point at which the most money enters the market - otherwise it wouldn't be the peak

so you just have to be in the middle of the herd to lose it this way

Edited by Si1
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No, I think money supply dried up bit since the peak/crash started, we are around long term average price, below average if you look at affordability.

at ground zero in lettings-ville Leeds that is certainly true, but in some parts even quite nearby there is still a long way to fall

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Price inflation in essentials like food- but wage inflation no- too much competition from overseas and technology to allow wages to rise that fast.

...as ever going around in circles.....cheaper housing, dearer cost of living, fuel, food, tax, interest....with wages will have to compete with the rest of the world. ;)

http://www.youtube.com/watch?v=6iP0q1xIkB4&feature=related

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My wife saw this topic on Mumsnet. Clearly the BTL addiction is not over yet ...

http://www.mumsnet.com/Talk/legal_money_matters/1038176-Is-it-possible-to-release-money-from-pension-to-buy

"I've seen a cracking little flat that I'd like to buy to let, just don't have the deposit at the mo and can't release equity from our own house as its dropped so much in value. I even have a tenant lined up!

Is it possible to release money from your pension scheme to buy property to let?

Thanks in advance!"

My god! You'd think that the fact that their house had "dropped so much in value" might have given her a hint ... clearly not!

Over on the right of the page there is a link about problems selling your property:-

http://www.mumsnet.com/Talk/property/1027378-Is-anyone-else-having-a-misreable-time-trying-to-sell

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