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camem'

Rosie Millard's Doing It Again

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http://www.timesonline.co.uk/newspaper/0,,...1833774,00.html

:P:P:P

:blink:

good job she's happy with risk, since she's about to buy another flat

So should I buy, pull out or flip? “Well, I don’t think you can flip now, or even in six months’ time,” Harris says. “Maybe in a year, when there is more to see on site, you might turn a profit. But that all depends on interest rates staying low. If they go up, then your profit margin will be severely limited. I would never take such a risk.”

But I’m happy living with risk and no sleep. Even if the market isn’t right for flipping, I’m still going to go for the flat. Harris is optimistic about the long-term investment. “I like to see people make money,” he says. “It makes the world go round.” Yep, that clinking-clanking sound.

ah, that'll be the merry clink-clank of an enormous debt millstone round your neck on a chain then...

Edited by camem'

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good job she's happy with risk, since she's about to buy another flat

ah, that'll be the merry clink-clank of an enormous debt millstone round your neck on a chain then...

Or the sound of all of your worldly posessions being carted off by the bailiffs. :(

Edited by Young Goat

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But I’m happy living with risk and no sleep. Even if the market isn’t right for flipping, I’m still going to go for the flat.

I wonder if her lender, who I belive recently froze her account, would be happy with the risk?

By the way, I REALLY want her to do this, it's got loose everything written all over it. A bit mean, I know.

Edited by laughing_goat

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well i hope rosie realises that lack of sleep is a huge cancer risk for most people.

Her Critical illness assurance policy may well be her get out of jail plan.

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Guest Bart of Darkness
ah, that'll be the merry clink-clank of an enormous debt millstone round your neck on a chain then...

She'll wear the chains she forged in life. :D

Go for it girl!

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I wonder if her lender, who I belive recently froze her account, would be happy with the risk?

By the way, I REALLY want her to do this, it's got loose everything written all over it. A bit mean, I know.

Not really, she is encouraging others to take the risk by betting on ever rising prices; is she gets wiped out then perhaps some of the other "investors" will take note and a bit of reason could return to the market.

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This is just fantastic. I liken it to the Dotcom days in 1999 when everyone was a day trader or dabbler and could not lose on tech stocks. Some guy at one of the broadsheets (I am pretty sure it was the Times!!) left his job and became a day trader in early 2000 and every week there was an update of his results.

He and the paper timed the crash to perfection and it made for very painful reading and dollops of schadenfreude. He had no technical training and didn't have enough cash to make real money on short sentiment trades. Thought HE had done something right during the boom and could make a living but he hadn't - he'd just copied others/followed the market up. Not sure what happened to him. Maybe he wrote a book.

I am almost certain La Rosie will be something similar for residential investment property. The pro's are cashing up or consolidating their positions - the amateurs still pile in. Can she really be this reckless or does she have a secret stash or inheritance coming?! What does her hubby do? Maybe he's a banker with a fat bonus due this year.

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I try and be sympathetic, I try and see their side. I try to care.

And then this.

They really are vile. How I despise them all.

"A curse upon both their houses!"

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Sometimes I wonder, maybe Rosie is right maybe buying London investment property is a good idea, maybe the low yields reflect the low risk associated with residential investment in one of the greatest cities in the world. But then I read her reasoning only to discover that there isn’t any, her decision to buy, it seems, is based on anecdotal, nebulous stories of killings made by other investors in other cities in unspecified market conditions, she makes no allusion to the broader economic context, (no tiresome trade deficits or credit crunches for rose-coloured Rosie).

Granted in the piece in yesterdays Sunday Times she does concede that flipping her latest purchase is not a likely option in her quest for property millions, she declares that she will have to settle for a low yield while the economy catches up with the price she paid before she takes her profit. I imagine that she has been offered a substantial off plan discount on this Kings Cross flat probably, 15-20% a tidy sum of money, but.

Any investor will receive an off plan discount on new builds, however the developer sets the price so the discount is purest swag shop flannel. And while Rosie is happy to listen to old tales of the fabulous flipping of far-flung flats, she fails to hear the baneful cries of those who flipped but flopped emanating from almost every new built ‘executive’ sap trap the length and breath of the globe.

What is it that debt addled Rosie so frantically seeks, to stomach such wonton speculation in a market that has seen falling prices for almost two years, she seems desperate maybe she thinks she can break her losing streak, and clear her debts when she sells her Kings Cross flat in a couple of years, I wouldn’t bet on it Rosie.

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she will have to settle for a low yield while the economy catches up

mmmm.....

the economy wont catch up as everytime it shows a glimmer of hope,

house inflation (and the rosie millards) bank it.

at the moment the economy is bent.

people like this are emptying the paypackets of the young, and sucking the life out of the retailers.

Edited by right_freds_dead

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What is it that debt addled Rosie so frantically seeks, to stomach such wonton speculation in a market that has seen falling prices for almost two years, she seems desperate maybe she thinks she can break her losing streak, and clear her debts when she sells her Kings Cross flat in a couple of years, I wouldn’t bet on it Rosie.

She's a gambler chasing loses and the bookmaker always wins.

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This property game lark needs to stop imo. Should be heavily taxed on any profit imo.

"drinks are on me" stupid bitches like her should serve time in turkish jails.

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Looking at it this way makes flipping seem like a sort of purists’ buy-to-let, since it’s all in the abstract. It’s a bit like trading in futures. What you are banking on is that your investment will have increased in value when it is ready to complete, which in my case is in about 30 months’ time.

Rosie Millard, Art scorrespondent, coulmnist, landlady and now, futures trader! I wonder what trading strategy she uses.... :lol:

Let’s say my investment is worth £500,000 now. In 30 months’ time, if its value has increased to £700,000, and I sell on the contract (thus avoiding the actual buying costs), then drinks will be on me. But obviously if the value has plateaued, or even gone down, I will be in flipping hell, as I must then complete the deal and buy the flat.

Er, no, you'll have sold the contract when the price fell through your futures trading stop loss limit, like the pro futures trader you are Rosie :lol:

Edited by Sledgehead

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I try and be sympathetic, I try and see their side. I try to care.

And then this.

They really are vile. How I despise them all.

"A curse upon both their houses!"

Even better, as a bard once wrote:

"a plague on both your houses"

after all, a curse can't kill you....

frugalista

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  • 301 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%



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