Jump to content
House Price Crash Forum
Sign in to follow this  
ruggedtoast

The Definition Of Insanity

Recommended Posts

Is doing the same thing over and over again and expecting different results.

I joined this site prior to the 2007 crash as I found it a refreshing change from the mainstream media's one way slant on house prices and the economy.

It was surprising to read people's predictions of a crash, specifically relating to individual organisations like Bradford and Bingley and Northern Rock, and see those people be proved right and make money themselves short selling.

However, do you ever feel like the chairs have been put up on the tables, the waiter is standing by the door tutting at you and all the other customers have left?

Nominally there has been a decent fall in prices. But the crash that people predicted hasnt happened, and with even old "Great Crash 2 is coming!" having given up and bought in Brighton after waiting for 5 years, and finally negotiating a whopping £5000 off the sellers asking price; surely you have to ask what now?

I am aware that many people have no option to buy and I know how frustrating that is. Any glimmer of hope is welcome, but for those sitting on cash in the bank, waiting and waiting for a crash that never comes, what keeps you logging on?

Share this post


Link to post
Share on other sites

Is doing the same thing over and over again and expecting different results.

I joined this site prior to the 2007 crash as I found it a refreshing change from the mainstream media's one way slant on house prices and the economy.

It was surprising to read people's predictions of a crash, specifically relating to individual organisations like Bradford and Bingley and Northern Rock, and see those people be proved right and make money themselves short selling.

However, do you ever feel like the chairs have been put up on the tables, the waiter is standing by the door tutting at you and all the other customers have left?

Nominally there has been a decent fall in prices. But the crash that people predicted hasnt happened, and with even old "Great Crash 2 is coming!" having given up and bought in Brighton after waiting for 5 years, and finally negotiating a whopping £5000 off the sellers asking price; surely you have to ask what now?

I am aware that many people have no option to buy and I know how frustrating that is. Any glimmer of hope is welcome, but for those sitting on cash in the bank, waiting and waiting for a crash that never comes, what keeps you logging on?

Is that why you posted this twice?

Share this post


Link to post
Share on other sites

Is doing the same thing over and over again and expecting different results.

I joined this site prior to the 2007 crash as I found it a refreshing change from the mainstream media's one way slant on house prices and the economy.

It was surprising to read people's predictions of a crash, specifically relating to individual organisations like Bradford and Bingley and Northern Rock, and see those people be proved right and make money themselves short selling.

However, do you ever feel like the chairs have been put up on the tables, the waiter is standing by the door tutting at you and all the other customers have left?

Nominally there has been a decent fall in prices. But the crash that people predicted hasnt happened, and with even old "Great Crash 2 is coming!" having given up and bought in Brighton after waiting for 5 years, and finally negotiating a whopping £5000 off the sellers asking price; surely you have to ask what now?

I am aware that many people have no option to buy and I know how frustrating that is. Any glimmer of hope is welcome, but for those sitting on cash in the bank, waiting and waiting for a crash that never comes, what keeps you logging on?

Is that why you posted this twice?

Share this post


Link to post
Share on other sites

The aim of the game is to keep the plates spinning, considering the impact that house price falls was going to have on UK banks and therefore the govt balance sheet it's no surprise that a correction hasn't occurred.

However they can't keep them spinning indefinitely but the main goal of politics is to ensure TSHTF on someone else's watch. Tony achieved this with great success, Gordon just managed to get away with it, now Dave has the issue of getting to the next election without a collapse occurring.

Everything is Ponzi the game is to stop the fraud from being revealed.

Share this post


Link to post
Share on other sites

I am aware that many people have no option to buy and I know how frustrating that is. Any glimmer of hope is welcome, but for those sitting on cash in the bank, waiting and waiting for a crash that never comes, what keeps you logging on?

I learn something new every day* from this site.

* ok, maybe every week :)

Share this post


Link to post
Share on other sites

Good original question.

I agree that a certain amount of common sense needs to be applied, and that you can't spend your life just waiting. One thing I have learned over these last few years is, 'you can't fight the fed' Basically this is a huge beast and TPTB are doing everything they can to stop it going down, and we should realise tha if they were to allow it to go down now, then the results would be disasterous for the majority (we here are the minority), so perhaps they are right to fight it. As a result a few individuals trying to go the opposite way to the herd is not going to stop the herd racing off the edge of a cliff. Probably the best course of action (if you know that there is a cliff) is to run with the herd for a while and then try and pull away before they go over. If we constantly try to go the opposite way to the herd, we are going to get bashed and trampled all the way.

This was why I kind of threw in the towel and have been looking to buy. However, this current crises is making me feel that we could be right at the cliff edge now, and I'm in such a position that I couldn't go with them even if I'd wanted to !

IMHO, if you could buy a place outright now, then I would. It may lose a lot of value, but then so might your cash. Being able to live rent and mortgage free is going to be a holy grail for surviving GP2.

Share this post


Link to post
Share on other sites

Good original question.

I agree that a certain amount of common sense needs to be applied, and that you can't spend your life just waiting. One thing I have learned over these last few years is, 'you can't fight the fed' Basically this is a huge beast and TPTB are doing everything they can to stop it going down, and we should realise tha if they were to allow it to go down now, then the results would be disasterous for the majority (we here are the minority), so perhaps they are right to fight it. As a result a few individuals trying to go the opposite way to the herd is not going to stop the herd racing off the edge of a cliff. Probably the best course of action (if you know that there is a cliff) is to run with the herd for a while and then try and pull away before they go over. If we constantly try to go the opposite way to the herd, we are going to get bashed and trampled all the way.

This was why I kind of threw in the towel and have been looking to buy. However, this current crises is making me feel that we could be right at the cliff edge now, and I'm in such a position that I couldn't go with them even if I'd wanted to !

IMHO, if you could buy a place outright now, then I would. It may lose a lot of value, but then so might your cash. Being able to live rent and mortgage free is going to be a holy grail for surviving GP2.

I really envy a mate of mine who has done up an old barn in to a superb residence. Not only that but he has made his own solar panels, connected em up and has his own water. He has no bills save council tax. He has some chickens and grows all his own veg. Did it all, he reckons for around 250K (in N Wales) in the last five years. Wish I could learn to knock a nail in without injury.

Share this post


Link to post
Share on other sites

However they can't keep them spinning indefinitely but the main goal of politics is to ensure TSHTF on someone else's watch. Tony achieved this with great success, Gordon just managed to get away with it, now Dave has the issue of getting to the next election without a collapse occurring.

I'm not liking his chances myself :)

Share this post


Link to post
Share on other sites

You forgot the 'h'.

I agree that there is an awful lot of stuff with an 'h' in it on this site. But still, I find that nowadays I start the day by scanning the BBC (website or radio) for the official news, then I come here to find out what's actually happened.

Share this post


Link to post
Share on other sites

If you drop a hammer out of an aircraft it will fall, the speed it is falling at will increase until hit hits maximum velocity, it will continue to fall until it hits the bottom.

However, it's been dropped over the ocean. 2014 is shall hit the sea, after that, gradual fall till 2030 or so looking at the population pyramids (inverted).

Share this post


Link to post
Share on other sites

"I am aware that many people have no option to buy and I know how frustrating that is. Any glimmer of hope is welcome, but for those sitting on cash in the bank, waiting and waiting for a crash that never comes, what keeps you logging on?"

I've been waiting for the crash in my area of NW Leeds since selling in Feb 2011. There is such denial around here with sellers and EA's denying any drop in house values. But personally I've been a bit of a nomad for the last 3 years, being a reluctant landlord, renting on my own and lodging with a mate, and in the end I've bought because I want my own space. I've bought a wreck and will put my £20k into the local economy to do it up.

My main opinion is that a crash won't really happen now. There will be a long term stand off between reluctant sellers and those who can't get mortgages. The VI in the financial markets, EU, BoE are succeeding in kicking the can down the road. They've done it for 4 years and what's to say this won't continue? The low interest rates are here to stay to con people to take on more credit.

The whole irrationality of the markets and the politicians makes me sick.

I hope the crash comes as we need to correct this overvaluation of houses, but I fear it'll be a long road where it main correction will be due to inflation. We all voted for that didn't we?

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...
Sign in to follow this  

  • Recently Browsing   0 members

    No registered users viewing this page.

  • 336 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.