Jump to content
House Price Crash Forum
Si1

Idiotic Loudmouth Bulls

Recommended Posts

in the past we had intelligent bulls, years 2001 thru 2003

however now, what with the recent channel 4 news segment, and recent new HPC members spouting utter uncontrovertible egotistical drivel, we have bulls with almost no basic market insight, except the governmt-will-save-us and various hackneyed neo-serfdom ideas with no 2nd level justification at all, that flake under the slightest scrutiny, that are intuitively awful arguments from the first sentence.

Is this a last desperate rationalisation to try to persuade the market to start behving itself again? Is it a sign that the game is up? (like comical ali in Iraq)?

Share this post


Link to post
Share on other sites

in the past we had intelligent bulls, years 2001 thru 2003

however now, what with the recent channel 4 news segment, and recent new HPC members spouting utter uncontrovertible egotistical drivel, we have bulls with almost no basic market insight, except the governmt-will-save-us and various hackneyed neo-serfdom ideas with no 2nd level justification at all, that flake under the slightest scrutiny, that are intuitively awful arguments from the first sentence.

Is this a last desperate rationalisation to try to persuade the market to start behving itself again? Is it a sign that the game is up? (like comical ali in Iraq)?

The analogy with Comical Ali is pure genius. May be we should start a self help group for bulls, after all gambler anonymous seems to work. It could be the only part of the health sector to expand over the next four and a half years.

Share this post


Link to post
Share on other sites

Start selling when the barrow boy buys - hence we had all and sundry jumping on the BTL bandwagon. The smart money has already left the market. One person I know who is a taxi driver by day is having trouble with non-paying tennants, no fun when he has £60,000 a month going out in mortgage payments on his property empire. Quite a few of his tennants are on HB and they are hardly the most reliable payers.

Share this post


Link to post
Share on other sites

I think that the big mouths are the bag holders, the smart money exited quietly before the peak. Any smart money still in obviously has a plan and a calculator that works so doesn't need to spout crap all day long about the markets.

I take it you have been over at mse? :lol:

Share this post


Link to post
Share on other sites

IM not one for bashing the bulls who post here as it weakens the site and results in one sided discussion.

However, if I hear the "desirable areas immune" argument again I think I'm going to rant big style.

Share this post


Link to post
Share on other sites

Start selling when the barrow boy buys - hence we had all and sundry jumping on the BTL bandwagon. The smart money has already left the market. One person I know who is a taxi driver by day is having trouble with non-paying tennants, no fun when he has £60,000 a month going out in mortgage payments on his property empire. Quite a few of his tennants are on HB and they are hardly the most reliable payers.

How the f*** does a taxi driver borrow enough to have liabilities of Sixty Thousand pounds a Month?.

Yes I know the answer........

Share this post


Link to post
Share on other sites

I think that the big mouths are the bag holders, the smart money exited quietly before the peak. Any smart money still in obviously has a plan and a calculator that works so doesn't need to spout crap all day long about the markets.

I take it you have been over at mse? :lol:

Disagree, viewed an auction property today, it was packed to the rafters, merc,audi's pulling up the lot. Ok this will be seriously BMV but smart money is still coming in. Summer 2005, Birmingham auction's were a bloodbath, almost nothing sold. We all know what happened next.

Share this post


Link to post
Share on other sites

Start selling when the barrow boy buys - hence we had all and sundry jumping on the BTL bandwagon. The smart money has already left the market. One person I know who is a taxi driver by day is having trouble with non-paying tennants, no fun when he has £60,000 a month going out in mortgage payments on his property empire. Quite a few of his tennants are on HB and they are hardly the most reliable payers.

F*** me! That's got to be over £15,000,000 debt! :o

Share this post


Link to post
Share on other sites

Disagree, viewed an auction property today, it was packed to the rafters, merc,audi's pulling up the lot. Ok this will be seriously BMV but smart money is still coming in.

Does "seriously BMV" and "smart money" make sense alongside "packed to the rafters"? :unsure:

Share this post


Link to post
Share on other sites

However, if I hear the "desirable areas immune" argument again I think I'm going to rant big style.

What about desirable areas with good schools? And London? Surely they won't go down?

:lol::lol:

Edited by MinceBalls

Share this post


Link to post
Share on other sites

Disagree, viewed an auction property today, it was packed to the rafters, merc,audi's pulling up the lot. Ok this will be seriously BMV but smart money is still coming in. Summer 2005, Birmingham auction's were a bloodbath, almost nothing sold. We all know what happened next.

If I buy a Merc on credit does that make me smart?

Share this post


Link to post
Share on other sites

Disagree, viewed an auction property today, it was packed to the rafters, merc,audi's pulling up the lot. Ok this will be seriously BMV but smart money is still coming in. Summer 2005, Birmingham auction's were a bloodbath, almost nothing sold. We all know what happened next.

My comment was referring to the op and current bulls.

Those that buy at auction are generally well informed, have a good deal of cash behind them and are buying at reasonable prices. Not your average property porn watcher but builders and people with cash to use/protect.

Share this post


Link to post
Share on other sites

My comment was referring to the op and current bulls.

Those that buy at auction are generally well informed, have a good deal of cash behind them and are buying at reasonable prices. Not your average property porn watcher but builders and people with cash to use/protect.

Fair comment but you missed the anecdotal though, these very people didn't want to buy in the summer of 2005 but do now.

Share this post


Link to post
Share on other sites

My comment was referring to the op and current bulls.

Those that buy at auction are generally well informed, have a good deal of cash behind them and are buying at reasonable prices. Not your average property porn watcher but builders and people with cash to use/protect.

was it a house auction?

If so, we wold like to read of the results....I dont think recent auctions published here have been too successful...even the ones packed to the rafters.

Share this post


Link to post
Share on other sites

Fair comment but you missed the anecdotal though, these very people didn't want to buy in the summer of 2005 but do now.

If they are indeed the same people then I think there are probably as many buying because they fear for their cash/sterling as there are that believe current prices are an opportunity.

Out of interest, what sort of percentage of the lots were sold/unsold?

Share this post


Link to post
Share on other sites

If they are indeed the same people then I think there are probably as many buying because they fear for their cash/sterling as there are that believe current prices are an opportunity.

Out of interest, what sort of percentage of the lots were sold/unsold?

I was going to to comment on the fact that in 2005 the situation for cash was much better than it is now.

Can't remember the percentage and it's not on online now, but i sold at the same time and only did because i lowered the reserve. It was very high unsold in both Birmingham auction's.

Share this post


Link to post
Share on other sites

My comment was referring to the op and current bulls.

Those that buy at auction are generally well informed, have a good deal of cash behind them and are buying at reasonable prices. Not your average property porn watcher but builders and people with cash to use/protect.

Cash to protect ? the rents they receive are going to be in Stirling so where is the protection.

Share this post


Link to post
Share on other sites

Cash to protect ? the rents they receive are going to be in Stirling so where is the protection.

In the asset, the house and not sat in the bank.

I can think of far better places to put cash but not everyone shares my opinions.

You don't think that cash buyers were buying because they were converting cash to assets in the face of lousy returns?

Share this post


Link to post
Share on other sites

In the asset, the house and not sat in the bank.

I can think of far better places to put cash but not everyone shares my opinions.

You don't think that cash buyers were buying because they were converting cash to assets in the face of lousy returns?

this is a very enlightening thread to me

it is, simply, sentiment

Share this post


Link to post
Share on other sites

F*** me! That's got to be over £15,000,000 debt! :o

It's food for thought isn't it. If I had just said his occupation was BTL landlord you'd probably not even have battered an eyelid having a portfolio of dozens of houses. He sold his Plane (yes I said that right) and Range Rover Sport recently. Is working alot more now so yes he may indeed be up to his eyeballs in poo. I might also add that before the first dip in 2007 he told me that if he sold up 'tomorrow' he'd have a 'million' squid in the bank.

Edited by tomposh101

Share this post


Link to post
Share on other sites

The "smart money" chasing BMV properties, are surely going to wait until after 20th October, at the very least. The spending review is the biggest date on my calender.

Share this post


Link to post
Share on other sites

this is a very enlightening thread to me

it is, simply, sentiment

That was my point, i expect sentiment to fall going forward but it's certainly holding up at the moment. The turning point surely has to be the spending review next week. Other than that the only other thing would be interest rate hikes.

Share this post


Link to post
Share on other sites

Join the conversation

You can post now and register later. If you have an account, sign in now to post with your account.

Guest
Reply to this topic...

×   Pasted as rich text.   Paste as plain text instead

  Only 75 emoji are allowed.

×   Your link has been automatically embedded.   Display as a link instead

×   Your previous content has been restored.   Clear editor

×   You cannot paste images directly. Upload or insert images from URL.

Loading...

  • Recently Browsing   0 members

    No registered users viewing this page.

  • 144 Brexit, House prices and Summer 2020

    1. 1. Including the effects Brexit, where do you think average UK house prices will be relative to now in June 2020?


      • down 5% +
      • down 2.5%
      • Even
      • up 2.5%
      • up 5%



×
×
  • Create New...

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.