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apom

Cornered At Work...

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Yup... The rising house prices articles did not go un-noticed..

smirks and knowing we shall see's

also.. the "you can't sit on your hands forever" comments...

I was suprised that when I said that although I have seen flats drop by £40,000 in a year I still couldn't afford them.. Didn't hold water..

How about an interest only mortgage...?

and i answer.. "Prices are dropping and I don't see my wages increasing.. and its still over 5 times my salary.. I can't borrow that much..."

You can't wait forever...

I answer.. "I will have to wait for the point where i can get the money to buy one though..."

Still didn't work..

and then the "It's different this time" comment was made..

arrrgh..

Anyway.. The point is..

People are stupid.. We shall have to wait for the economy to force this..

So how are interest rates looking ? :)

also.. I was told that I had been saying prices would drop for a year..

and when I again pointed out that flats in Exeter had dropped over 20% it didn't even register.

The press is telling people that the economy and housing market are in trouble.

but people see only what they want to see..

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The only people really watching the market properly are those in the industry, those interested in buying (now or later) and those trying to sell. Most owner occupiers are not doing either and so are more easily fooled by the VI spin. If they had any idea what it was the reality was really like out there they would be far less smug.

frugalista

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Guest consa

Yup... The rising house prices articles did not go un-noticed..

smirks and knowing we shall see's

also.. the "you can't sit on your hands forever" comments...

I was suprised that when I said that although I have seen flats drop by £40,000 in a year I still couldn't afford them.. Didn't hold water..

How about an interest only mortgage...?

and i answer.. "Prices are dropping and I don't see my wages increasing.. and its still over 5 times my salary.. I can't borrow that much..."

You can't wait forever...

I answer.. "I will have to wait for the point where i can get the money to buy one though..."

Still didn't work..

and then the "It's different this time" comment was made..

arrrgh..

Anyway.. The point is..

People are stupid.. We shall have to wait for the economy to force this..

So how are interest rates looking ? :)

also.. I was told that I had been saying prices would drop for a year..

and when I again pointed out that flats in Exeter had dropped over 20% it didn't even register.

The press is telling people that the economy and housing market are in trouble.

but people see only what they want to see..

Some numskulls are best ignored and all good thing come to those that wait springs to mind :)

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Come on Apom, "you can't wait forever" to borrow over five times your salary....

Edited by TW11

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The only people really watching the market properly are those in the industry, those interested in buying (now or later) and those trying to sell. Most owner occupiers are not doing either and so are more easily fooled by the VI spin. If they had any idea what it was the reality was really like out there they would be far less smug.

frugalista

Yes. It seems that when there's bad news, no one notices. When there's good news they all become property market mavens.

I remember the last recession, when everyone moaned about their negative equity, so I know it will change.

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Near exeter.. most of my life.. although i spent five years living in sunny crawley..

Been back two and a bit..

One lady, clever and impressive and old enough to remember last time was saying that things were different this time.. she also said that the economy was in good shape..

She has mentioned remortgages several times....

Has no idea that we are running out of mewers.. and as soon as that happened everyone is going to be kicking their heals..

These are inteligent people though..

The whole problem is that they have no understanding how closely linked the housing market is with the rest of the economy..

I tried to explain what impact the debt levels are having.. they should be visable to them..

also I tried to explain that with mewers no longer being constructive and there only being a finite amount of them that soon any new mortgage is not going to be shielded from the economy.. it will be a great big chunk of cash that that individual was going to contribute gone in smoke..

can't they see what effect that has...?

Its painfully obvious..

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There comes a point when you just have to go with the flow with some people.

Just say 'there, there - you'll be fine. No need to worry about your interest only mortgage that you had to take with a 2 year fix 'coz you couldn't afford the payment on a 5 year deal. The market will bail you out, honest.'

They generally p!ss off and leave you alone then.

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Rise above it.

Ignore them. As has been said on here numerous times, most folk are sheeple. They believe what is fed to them through the TV screen. They never question anything. Most people, even intelligent ones, are incapable of any sort of critical analysis.

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Guest Charlie The Tramp

Deep down these people have a hidden fear. You take the miraculous medication in telling yourself all is fine and eventually it begins to work. It freezes the brain preventing the seeing of any bad news.

Fortunately the members of this forum do not take that medication.

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apom

why not do what slater14 did, and go check there properties out at the land registry, i bet there not to smug when you mention to them all the loans they took out for the bmw's in the car park.

Edited by homeless

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apom,

You're not doing yourself any favours letting work colleges know what winds you up. A fatal mistake if most of them are home owners.

I can just imagine it, must be bloody awful by now.

In my experience it's best to tell people at work (or outside) as little as possible about yourself, they're probably not interested anyway.

It's the same if you're vegetarian, non-racist or hold any non-consensus beliefs. People love to use it against you if they are the majority.

F**K 'em tw@ts!

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apom,

You're not doing yourself any favours letting work colleges know what winds you up. A fatal mistake if most of them are home owners.

I can just imagine it, must be bloody awful by now.

In my experience it's best to tell people at work (or outside) as little as possible about yourself, they're probably not interested anyway.

It's the same if you're vegetarian, non-racist or hold any non-consensus beliefs. People love to use it against you if they are the majority.

F**K 'em tw@ts!

I don't usually..

Been busy this week as my colleague was away.. and I was single handedly the only Network manager in the place..

but I can fall back on my absolute conviction that i am right.

I like to base my conviction on being right.. 100% spot on..

Tell them that people still buying at todays prices does not fix the problem.

All it does is make the problem worse..

If asked what problem..

I can answer

"the underlying economic problem that debt levels are causing.. all it is is debt you see.. the economy does not care what you bought with your debt.. only that you are in it and not spending enough anymore..!

sod them anyway.. I am a lot prettie then them..

Oh one more point..

I was told that we would both agree that high interest rates were a bad thing.

I answered along the lines of..

"only for people in debt, for investment is is great.. for people wishing to save it is great.. great for the economy.."

That got a weird look.. I think some people don't understand that you should earn then spend.. not spend then earn..

Been too easy for too long.. and that has never lasted... let those good times role..

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Chin up apom - next time they have a dig why don't you just ask them if they want to play "I'll show you mine if you show me yours"

Then you can go behind the bike shed and compare their credit card bill with your bank balance....and see who's got the biggest one.

:lol::lol::lol:

Don't let them get to you.

It's your life.

Enjoy your time now and stop worry - in a few yers time you will be tied down with a mortgage after all

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I don't usually..

Been busy this week as my colleague was away.. and I was single handedly the only Network manager in the place..

but I can fall back on my absolute conviction that i am right.

I like to base my conviction on being right.. 100% spot on..

Tell them that people still buying at todays prices does not fix the problem.

All it does is make the problem worse..

If asked what problem..

I can answer

"the underlying economic problem that debt levels are causing.. all it is is debt you see.. the economy does not care what you bought with your debt.. only that you are in it and not spending enough anymore..!

sod them anyway.. I am a lot prettie then them..

Oh one more point..

I was told that we would both agree that high interest rates were a bad thing.

I answered along the lines of..

"only for people in debt, for investment is is great.. for people wishing to save it is great.. great for the economy.."

That got a weird look.. I think some people don't understand that you should earn then spend.. not spend then earn..

Been too easy for too long.. and that has never lasted... let those good times role..

Don't worry about it too much, I try to let it go over my head - but it is hard sometimes.

Everyone stopped gloating about house prices about a month ago, when I had a go at alot of people in my office. I know for a fact that none of them could afford to buy now their own home (even with 30% cash deposit) as I know how much they earn.

Basically I said if house prices do fall, and you lose your home, i'll be jumping with joy. If you can't afford to feed yourself at night, "i'll put on weight just to spike you". It's exaclty the same what they are doing to me, and they don't like it...

My best return-argument so far is "I hope food prices go up 20% every year, rising prices are such a good thing. Ok, people may starve and have to live of beans, some may die, but hey it's a good thing". An awful thing to say, but people have to live somewhere as people have to eat!

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Apom, ask the people at work if they think those who bought houses in 1988 thought prices were going to fall 30%.

That might make them think (and if it doesn't, chances are they can't)

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smirks and knowing we shall see's

also.. the "you can't sit on your hands forever" comments...

"I can sit on my hands forever, now naff off cause I have work to do"

also.. I was told that I had been saying prices would drop for a year..

and when I again pointed out that flats in Exeter had dropped over 20% it didn't even register.

The press is telling people that the economy and housing market are in trouble.

but people see only what they want to see..

This is a scientifically documented phenomena. Its called "The Barnum Effect" and was documented originally in 1949 (I think?). Its not actually that people see what the want to see. They see what they expect to see. The press has been telling people remorselessly for the past 6 years that they can make a motza from property (just bung in an extra bog and paint the walls buttery cream) and property never goes down. What is a few weeks of bad press compared to that imprint? Its a social/experiential knowledge effect, which has broad reaching ramifications and I do it myself from time to time, and find myself having to apologise (that sucks!).

It is also why we need good honest well argued bulls on this site as well as bears and why I forgive my friends their very well meant advice to get in the market fast now. Its the burden of the big brained mammal.

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Its the burden of the big brained mammal.

What, stupidity?

Not much reason for that size brain then.

Especially as most use a paltry amount of it much of the time.

Feeding the pleasure centres in various ways is about it.

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A few years ago.. actually... Christ it was a decade...

Getting old..

But I had a similar incident.. I was sat at work and a collegue turned to me and said..

" I saw a great film last night.. the Unusual Suspects..!! "

I turned back..

"Its a great movie..." I smirked.." but its called the usual suspects.."

Anyway.. he thought I was wrong.. so did a whole bunch of people...

I protested.. gave up and bought the video in the next day..

Funny... being right and surrounded by those who are wrong..

The way to look at it is.

I am not wrong.. I am right..

Not all the time.. but today I was..

About this I am..

I have not a shread of doubt..

If enough people disagree.. it means my being right will be delayed.. a little..

But I am still right.. :)

and real like for like places are dropping much faster then my debt.. would have been.

This is another point..

I convinced the woman that I am convinced that prices are dropping, used my flat £40,000 down..

and she still said that I should get an interest only mortgage as at least I would be on the ladder..

Well I could also drive a nail through my testicles.. but I have good reasons not to do that either.

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Perhaps its just survival of the fittest type thing, or maybe an extinction of the stupid type thing.

My own experience was that people at work got very interested in why I pulled out of a house sale, but they all seemed to agree with the argument that IF house prices are "stagnating" then i can save faster than they increase. But they still get upset at my arguments for their homes "crashing".

In the end, its all just opinion.

Until its history! Then it will all look SO obvious.....(but WHO could have predicted THAT) :lol:

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tell them about the nice restaurant you go to on a friday and about that nice car your saving to buy.

gives them something to think about when they go home to there bills and cant buy a pizza

ie rub there noses in there self induced debt pile

Edited by homeless

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Yup... The rising house prices articles did not go un-noticed..

smirks and knowing we shall see's

also.. the "you can't sit on your hands forever" comments...

I was suprised that when I said that although I have seen flats drop by £40,000 in a year I still couldn't afford them.. Didn't hold water..

How about an interest only mortgage...?

and i answer.. "Prices are dropping and I don't see my wages increasing.. and its still over 5 times my salary.. I can't borrow that much..."

You can't wait forever...

I answer.. "I will have to wait for the point where i can get the money to buy one though..."

Still didn't work..

and then the "It's different this time" comment was made..

arrrgh..

Anyway.. The point is..

People are stupid.. We shall have to wait for the economy to force this..

So how are interest rates looking ? :)

also.. I was told that I had been saying prices would drop for a year..

and when I again pointed out that flats in Exeter had dropped over 20% it didn't even register.

The press is telling people that the economy and housing market are in trouble.

but people see only what they want to see..

Mate, it's getting pretty crazy. The difference between what people believe and what is happening seems to be growing.

Anyway, what do they think is going to happen, with their "you can't wait hands forever" type comments? Can't wait forever while house prices become ABSOLUTELY IMPOSSIBLE FOR FIRST TIME BUYERS? I don't think so. They're going to have to wake up to reality some time.

I tell you when house prices crash, I'm going to be disco dancing with glee! I'm going to bring them up at parties "Why, you wouldn't BELIEVE how much the neighbour has lost on his house" etc.

Edited by Levy process

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apom cant disagree with you there.

I look a lot poorer than my neighbours and the reasonn is i dont have any debt.

See i save the money they spend and on top dont take on debt, so infact im up on them

money saved + minus there debt

Thats realy what is making us people not in debt and saving look like the poor relations, if you earn 20k a year and are only spending 10 to the outside world you look like a man on 10k, but if you earn 20k but take on 10k debt to the world you look like a man on 30k, thus the debters on the same wages as you look 3 times more prosperous.This is what is getting many of us down a bit.But we will reap the future why they try to blame everyone but themselves because in a few years the poor/rich looking side will switch.But the beauty is you can then look 3 times as wealthy as them without incurring there problems.

in the end the savers are the winners

just keep the faith

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I tell you when house prices crash, I'm going to be disco dancing with glee! I'm going to bring them up at parties "Why, you wouldn't BELIEVE how much the neighbour has lost on his house" etc.

That is sooooo cool.

You could play 'guess the negative equity' :lol::lol:

What about taking some EA leaflets into work and holding a sweep stake on how much someone has lost on their home.

Serioulsy we could see a big big change. Green could be next season black.

I was in Germany over the summer and was talking with people there. They put it like this.

A few years ago everyone was saying 'look how much this cost' - and it was cool

Now people are saying 'look how little this cost' - and that is cool.

Economising, saving, not being in debt and recycling everything is the new thing.

Showing off about expensive goods is sooo last year. Nobody wants to know.

We could see that here - and we will be prepared.

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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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