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Dave Beans

Wail Property W**kfest

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Notice they are all of a certain age? And no hard work went into making this tax free, unearned profit, they are no geniuses, or entrepreneurs, they were just born at the right time and got lucky thanks to successive governments favouring their votes. A true example of the people at the top of the ponzi pyramid.

Edited by fru-gal

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Why don't they also tell us how much money they actually earned over the same period? That guy could have made so much from semi-permanent make up training that his property gains look like peanuts. Or not as the case may be...

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With luck it ought to focus a few potential buyer's minds on what they are paying for- people to piss it up a wall on jetskis, African property and other accoutrements of a lifestyle their occupations couldn't possibly permit otherwise.

Absolutely this. 25 years paying for someone else's lottery win (and paying the bank interest for the privelege).

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Absolutely this. 25 years paying for someone else's lottery win (and paying the bank interest for the privelege).

Sadly the psychology with the sheeple is quite the reverse - "they made shit loads by buying this house, so I'm going to buy the same house and it will happen to me too". I know, unbelievable, but it's really how the majority think. I actually heard someone say pretty much this after buying a house - they looked at the price that the previous owners bought at and were genuinely, stupidly pleased that they people they had bought off had made so much money - because inevitably they would make so much money too. It's also why the public only really get into the stock market in numbers when it's at a peak rather than a low.

Of course, they don't realise it's a ponzi and they could quite possibly be the last to be gamed - indeed, the government is telling them it's not a ponzi (and are gaming them).

The reverse is also true of course - these people do not buy in a falling market (why buy a depreciating asset?), so it makes the crash worse.

Edited by mikthe20

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Sadly the psychology with the sheeple is quite the reverse - "they made shit loads by buying this house, so I'm going to buy the same house and it will happen to me too". I know, unbelievable, but it's really how the majority think. I actually heard someone say pretty much this after buying a house - they looked at the price that the previous owners bought at and were genuinely, stupidly pleased that they people they had bought off had made so much money - because inevitably they would make so much money too. It's also why the public only really get into the stock market in numbers when it's at a peak rather than a low.

Of course, they don't realise it's a ponzi and they could quite possibly be the last to be gamed - indeed, the government is telling them it's not a ponzi (and are gaming them).

The reverse is also true of course - these people do not buy in a falling market (why buy a depreciating asset?), so it makes the crash worse.

As under 40s are priced out the market they clearly arent not sheeple thinking that this is likely to happen.

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They forgot to post the pictures of the people buying at peak++:

6a00d8341c761a53ef011571ab8c64970b-pi.jp300px-Fozzie-bear.jpgbilly-bob-thornton-sling-blade.jpg

:lol:

It's all feeling very much like 2007 all over again. I remember a show (I think on the BBC) about HPI 'winners'. It highlighted one guy whose house had quadrupled in value (or something) who had sold. In his interview he was literally laughing about his luck, before he smugly got into a sports car he had bought with part of the proceeds.

We have to be at the top now.

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Theyve all got that up their backside London look that needs knocking off their faces.

Nicest thing i wish them all is an early death.

The article is practically a parody of itself. I get the impression the writers must have been laughing out lout to himself as they put it together.

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They just wanted a home. Media forced them to buy. They didn't know what they were doing.

Oh well, into a bear market, very few people owners of an overvalued asset sell at the peak. The vast majority hold all the way into down to the low in a crash.

A crash can happen with very few transactions, between buyers and sellers transacting at much lower prices - bringing all other home-owners houses down to the same transaction value.

:lol:

It's all feeling very much like 2007 all over again. I remember a show (I think on the BBC) about HPI 'winners'. It highlighted one guy whose house had quadrupled in value (or something) who had sold. In his interview he was literally laughing about his luck, before he smugly got into a sports car he had bought with part of the proceeds.

We have to be at the top now.

2007, except with much higher house prices in quite a few areas. This time perhaps we can have fewer excuse-givers for the home-owners; each individual makes their own decision when buying, when they choose to sell, level of debt they take on, smiling in the papers about their profits and expected profits. Else we will never have a softening in prices to liberate younger generations from this situation.

Most home-owners and property VI don't have any scars from this so called financial crisis - it's been comfortable, confident and happy times - with their properties going up year-and-year again to be 'worth' 30% more.

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Monica Porter, pictured twice and sitting on a £650K 'profit' is a Mail journalist, for what it's worth...

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They forgot to post the pictures of the people buying at peak++:

They are vastly outnumbered by equity rich property-owners.

#HavingABreakdownForPeakBuyers, #LickThePavementForPeakBuyers; QE, 0.5%, FLS, give them 30% more HPI, except in a few dog-end areas no one really wants to live in anyway which haven't yet 'recovered'.

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Meanwhile, if you're a renter, whose made a fraction of that by investing whatever you have in job creating companies, expect to pay CGT on any increase in value.

Good point......can clearly see what they value most.....easy property money and having a good time spending the free windfalls. ;)

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Chant after me - you cannot go wrong with bricks and mortar :rolleyes:

For every winner there is an equal and opposit loser. It's all well and good people extracting all these unearned profits from property but the next mugs who come along must cover all these profits using wages that haven't remotely kept pace with our disfunctional housing market.

Unless we get some wage inflation then I'm struggling to see how this current rally in prices doesn't hit the rocks.

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