Jump to content
House Price Crash Forum
Sign in to follow this  
Crashman Begins

Thank You - From A Young Hpc 1St Time Buyer

Recommended Posts

I would like to send a Gigantic huge thank you to HPC forum posters & especially the posters who posted from 2004 onwards leading up to the crash.

Thanks to Realist bear ( For continually posting through 2005-2008 false boom) Dr Bubb, Eric Peebles, & all the others. Most importantly CGNAO.

The housing market moves with financial markets, so to understand

Where prices are going, you've got to pay attention to what the markets are doing & where the money is heading. Whether it's up or down.

I found this forum in my early twenties around 2004 (Youngest HPC member ever / at the time ??) not even knowing how a mortgage worked.

I was a complete brainless sheep enjoying my youth.

Fast forward 7 years I managed to defy the trend for people my age & purchased a lovely home for me & my family near London roughly 3 years ago.

It's been blood sweat & tears along the way & I've learned that you can't share your financial plans with people due to jealousy, interference & greed etc

My advise for any 1st time buyers reading this would be to do your own research ! Don't just follow one set of ideas as that represents just one view.

I subscribed to different sources, followed many investors on YouTube, took note of many posters ideas & made my own decisions to suit my needs.

That decision meant that I bought smack bang at the bottom of the double dip recession, even though lots of posters told me not to.

Seems like my theory was spot on.

Buy at the bottom of an expensive area to protect yourself from

A falling market.

THREAD HERE : http://www.housepricecrash.co.uk/forum/index.php?/topic/168400-whats-your-opinion-1st-time-buyer-buying-at-low-end-of-wealthy-saught-after-area-near-london/

I'm now looking at 100k+ equity which is crazy.

This is not a goodbye thread, I'll still be lurking & reading occasionally

Anticipating the 2022 crash. (My prediction)

Best of luck to all for the future

Crashman Begins

Edited by Crashman Begins

Share this post


Link to post
Share on other sites

I've decided to sell . I know I should have acted sooner.

Will keep you all updated... wish me luck unsure.gif

http://www.housepricecrash.co.uk/forum/index.php?/topic/148561-crashman-has-left-it-late-is-now-selling-up/

Hello HPC'ers,

I would be a 1ST TIME BUYER, buying at low end of a wealthy / saught after area near London.

My main thought is that I would be shielding myself from NEG Equity by buying such an area, instead of buying

in areas that are dropping & dont tick all our boxes.

Also we want to move there because of the good schools, cheap childcare & the facilities i.e parks, classes, scenery & transport. It ticks all the boxes for us

Whats your thoughts

http://www.housepricecrash.co.uk/forum/index.php?/topic/168400-whats-your-opinion-1st-time-buyer-buying-at-low-end-of-wealthy-saught-after-area-near-london/

Share this post


Link to post
Share on other sites

I would like to send a Gigantic huge thank you to HPC forum posters & especially the posters who posted from 2004 onwards leading up to the crash.

Thanks to Realist bear ( For continually posting through 2005-2008 false boom) Dr Bubb, Eric Peebles, & all the others. Most importantly CGNAO.

The housing market moves with financial markets, so to understand

Where prices are going, you've got to pay attention to what the markets are doing & where the money is heading. Whether it's up or down.

I found this forum in my early twenties around 2004 (Youngest HPC member ever / at the time ??) not even knowing how a mortgage worked.

I was a complete brainless sheep enjoying my youth.

Fast forward 7 years I managed to defy the trend for people my age & purchased a lovely home for me & my family near London roughly 3 years ago.

It's been blood sweat & tears along the way & I've learned that you can't share your financial plans with people due to jealousy, interference & greed etc

My advise for any 1st time buyers reading this would be to do your own research ! Don't just follow one set of ideas as that represents just one view.

I subscribed to different sources, followed many investors on YouTube, took note of many posters ideas & made my own decisions to suit my needs.

That decision meant that I bought smack bang at the bottom of the double dip recession, even though lots of posters told me not to.

Seems like my theory was spot on.

Buy at the bottom of an expensive area to protect yourself from

A falling market.

THREAD HERE : http://www.housepricecrash.co.uk/forum/index.php?/topic/168400-whats-your-opinion-1st-time-buyer-buying-at-low-end-of-wealthy-saught-after-area-near-london/

I'm now looking at 100k+ equity which is crazy.

This is not a goodbye thread, I'll still be lurking & reading occasionally

Anticipating the 2022 crash. (My prediction)

Best of luck to all for the future

Crashman Begins

I would get that 100k out of property quickly if I were you.

Share this post


Link to post
Share on other sites

I would get that 100k out of property quickly if I were you.

That's the trouble with paper gains, they are paper. I wish the chap luck but I suspect this "gain" has been made in the last 12 months off the back of FLS/HTB. a £100K increase in equity in 12 months is not sustainable, even if you hold onto it then that increase in equity maybe have come at the expense of you eve being able to afford to trade up the property pyramid. Hardly something to be cheerful about.

Also, I always wonder why anyone wants to share such a story, which to paraphase is:

Hello losers, I bought and you didn't, I've made more money in a year than you case save in a decade. Aren't I clever. Good bye losers.

Thanks for sharing you tale with us but I'll keep laughing at it if you don't might, thanks for sharing it with us though, it's yet another sign of the unsustainability of the British housing market.

Share this post


Link to post
Share on other sites

Oh, back already, to defend yourself.

Please, you've said your good byes, so f**k off while we all talk about you.

Edited by TheCountOfNowhere

Share this post


Link to post
Share on other sites

THREAD HERE : http://www.housepricecrash.co.uk/forum/index.php?/topic/168400-whats-your-opinion-1st-time-buyer-buying-at-low-end-of-wealthy-saught-after-area-near-london/

I'm now looking at 100k+ equity which is crazy.

This is not a goodbye thread, I'll still be lurking & reading occasionally

Anticipating the 2022 crash. (My prediction)

Best of luck to all for the future

Crashman Begins

You're back again. Can't find the hilarious discussion we had a few months ago, with you counting your equity. Think they thread got deleted.

A flavour though...

Do you guys actually know people / home owners in London ?

There are so many people wanting to buy in London that

If prices crashed like in 2008 they would bounce back up within 8 months max.

Believe me I witnessed it happen before the bailouts / zero interest rates started.

I bought in west London 2 years ago at the bottom of the double dip that never happened.

My theory was that I'll be protected from neg equity, by the wealth / popularity

Of the area.

Well 2 years later I'm now looking at 80% LTV as prices have risen around 80K !

My advise is to take a good look around west London & think

About the job losses, repossessions & anything else negative...

I did & couldn't find anything negative. The recession barely touched

Anyone around here.

DO NOT UNDERESTIMATE THE WEALTH IN LONDON !

There are a lot of clever people with experienced wealthy family circles, who shrug of recessions

Due to their financial positions. Prices around here recovered

So fast that I missed the bottom of the crash 2007/8 crash by 6 months !!

Bankers money etc ?

Hanwell, ealing, Acton... It doesn't really matter that much

As it's only 30mins or so between each area. Most people could easily upgrade

Towards ealing ACTON etc if they wanted to.

Just take a look at the 30-40k cars parked / driving around in the "less wealthy areas"

If you can afford the better areas then go for it it's a no brainer... All IMO

I'm your age and found this site at 23 / 24 years old.

Due to experiences with family i realised at a young age that Life is short so I lived it up whilst saving at the same time. Still went on holidays, still went out drinking

I just went in 60% instead of 100% with anything I did.

I would say you've got to sacrifice things when buying around London, unless you're buyin in the 350k range.

Remember you earn good wages in London.. Well so does everyone else !

Have you looked at the values of cars being driven around ?

The extensions and refurbishment on property that's happening. The QE money is working its way in from the top down. Slowly but surely

Don't forget there are a lot of savvy investor type people around London. And there always have been so you are competing with them.

I wanted to avoid negative equity so I bought at the bottom end of a highly sought after area. I have no garden or driveway etc but the school, shops and facilities more than make up

For it.

Also I know of many families around west London who had buy to let portfolios in the 80s and haven't suffered at all because of the credit crunch. Rents & prices have gone up.

They and many others are slowly extending and expanding their investments.

For years theyve known that holding cash / paying rent is a bad option

Share this post


Link to post
Share on other sites

Just saying thank you ! That's all

You would have asked / searched for the juicy info so I provided it straight away.

I hope you all find happiness going forward.

Because it's tough out there.

Share this post


Link to post
Share on other sites

Just saying thank you ! That's all

You would have asked / searched for the juicy info so I provided it straight away.

I hope you all find happiness going forward.

Because it's tough out there.

emoticon-300x168.jpg

Edited by TheCountOfNowhere

Share this post


Link to post
Share on other sites

Wow

Guess a guy can't say thank you around here

I'll be eagerly waiting for some of the posters on here to buy so I can call them names.

Maybe you'd all like it if I was up to my eyes in debt and being re possessed ????

Hahahha you've made me laugh.

Edited by Crashman Begins

Share this post


Link to post
Share on other sites

I found HPC in 2007ish when in my late 20's I luckily dodged the bullet of buying a 3 bed house in the summer with my ex girlfriend. With HPC help I could see it was an artificially credit inflated sum for a house in a poor state, the value of which was astronomical to local average wages. We continued to rent and in October and I watched with fascination almost relief at the financial crash which meant no one was buying and less pressure from family and friends to 'get on the ladder'. Currently I have close to £100k in savings now that could be used as a deposit but will only buy if a correction in prices occur, perhaps when interest rates gradually rise. If not, I will continue to rent and save for a bigger deposit whilst travel around the World as I try and do each year.

I refuse to buy anything over valued which I believe most houses and flats are in the UK. Different paths, as long as you are happy I guess.

I find it interesting that despite all this noise about increasing house prices in 2014 my colleagues expressions have definitely changed from 2007 when you tell them you still rent.

In many cases and for lots of people my age its changed from pity to envy. I think thats simply because I have so much more freedom than them and still live in a beautiful area where those (amongst my friends and colleagues) who have bought have seriously had to compromise on both size and location of house.

Best of luck

Share this post


Link to post
Share on other sites

Wow

Guess a guy can't say thank you around here

I'll be eagerly waiting for some of the posters on here to buy so I can call them names.

Maybe you'd all like it if I was up to my eyes in debt and being re possessed ????

Hahahha you've made me laugh.

You maybe find this useful:

http://www.wikihow.com/Say-Goodbye

"

How to Say Goodbye"
1

Recognize when to leave.

Forget 2 and 3 in this case.

Share this post


Link to post
Share on other sites

That's the trouble with paper gains, they are paper. I wish the chap luck but I suspect this "gain" has been made in the last 12 months off the back of FLS/HTB. a £100K increase in equity in 12 months is not sustainable, even if you hold onto it then that increase in equity maybe have come at the expense of you eve being able to afford to trade up the property pyramid. Hardly something to be cheerful about.

Also, I always wonder why anyone wants to share such a story, which to paraphase is:

Hello losers, I bought and you didn't, I've made more money in a year than you case save in a decade. Aren't I clever. Good bye losers.

Thanks for sharing you tale with us but I'll keep laughing at it if you don't might, thanks for sharing it with us though, it's yet another sign of the unsustainability of the British housing market.

When the crash comes many properties will be losing more in a month than I pay in rent in a year.

Share this post


Link to post
Share on other sites

Create an account or sign in to comment

You need to be a member in order to leave a comment

Create an account

Sign up for a new account in our community. It's easy!

Register a new account

Sign in

Already have an account? Sign in here.

Sign In Now
Sign in to follow this  

  • Recently Browsing   0 members

    No registered users viewing this page.

  • The Prime Minister stated that there were three Brexit options available to the UK:   224 members have voted

    1. 1. Which of the Prime Minister's options would you choose?


      • Leave with the negotiated deal
      • Remain
      • Leave with no deal

    Please sign in or register to vote in this poll. View topic


×

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.