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redwing

Make It Happen

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Two part post here - some background and then a call to action.

I fancied a mid-life crisis and having no wife or kids could afford to have one this year. Sold my mid-terrace 2bed house in Cambridge for more than it was worth in July 2005 (although it took an agonising 5 months between putting it on the market and getting my hands on the money). Then took off for a really long holiday touring France.

Back now in the UK and found this web site by typing 'house price crash' into Google.

I have been convinced since 2001 that a correction is coming, and couldn't believe my luck that it hadn't happened by the time I decided to quit the job and take time out.

If you want a HPC then every little contribution helps. Follow my plan:

1. Sell your house and put any money you get in the bank.

2. Stop spending money - cut back on everything and save

3. Pay off any credit/loans

If the few thousand users of this site do that then it will help precipitate what we all want.

I know this makes me sound like an evil 'profit taker' but I was a 20something in 1988 and thought I'd never get on the property ladder. I Bought my first house in my mid 30s in 1996.

If you're a despairing FTB then forget about buying for about 5-8 years, get on with your life and make a regular saving commitment. Remember what your gran and grandad thought about debt.

Good luck

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Two part post here - some background and then a call to action.

I fancied a mid-life crisis and having no wife or kids could afford to have one this year. Sold my mid-terrace 2bed house in Cambridge for more than it was worth in July 2005 (although it took an agonising 5 months between putting it on the market and getting my hands on the money). Then took off for a really long holiday touring France.

Back now in the UK and found this web site by typing 'house price crash' into Google.

I have been convinced since 2001 that a correction is coming, and couldn't believe my luck that it hadn't happened by the time I decided to quit the job and take time out.

If you want a HPC then every little contribution helps. Follow my plan:

1. Sell your house and put any money you get in the bank.

2. Stop spending money - cut back on everything and save

3. Pay off any credit/loans

If the few thousand users of this site do that then it will help precipitate what we all want.

I know this makes me sound like an evil 'profit taker' but I was a 20something in 1988 and thought I'd never get on the property ladder. I Bought my first house in my mid 30s in 1996.

If you're a despairing FTB then forget about buying for about 5-8 years, get on with your life and make a regular saving commitment. Remember what your gran and grandad thought about debt.

Good luck

I beleive this is what most people are already doing, it's certainly what I'm doing. Although, I certainly don't just stick my money in a bank account (spreading risk and all that). The FTB's obviously don't have the benefit of of home equity to bank, but they are saving and saving hard.

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If you want a HPC then every little contribution helps. Follow my plan:

1. Sell your house and put any money you get in the bank.

2. Stop spending money - cut back on everything and save

3. Pay off any credit/loans

If the few thousand users of this site do that then it will help precipitate what we all want.

Ah-ha! But (aside from the practicalities and impact) is this really the most efficacious strategy?

For instance, 1 . will convince the BoE that folks are being more responsible (-> rate cut) and allow the banks and BSocs access to large amounts of money to lend out on the cheap! Hardly crash inducing!

2 . will again convice the BoE we aren't all spend thrifts (-> rate cut), cause falls in retail sales (-> rate cut) and cause more competition between retailers (->lower RPI->lower CPI-> lower interst rates).

3 . will again give the impression the country is saving / drawing in its horns (-> rate cut)

So, what should you do?

1 . Make the BoE worry about inflation by pushing up th eprice of gold - take money out of the bank and invest in th eyellow stuff!

2 . Make the BoE think economic growth is gonna be stronger than expected - buy equities!

3 . Make the BoE think the markets are expecting higher interest rates : short gilts!

4 . Make the BoE think savings are deteriorating : if you don't like 1-3, just take the cash you have in the bank and pad your mattress with it.

5 . Consume irresponsibly : ever heard ads asking "why pay more?" The simple answer is "to push up inflation!". That will fuel RPI, CPI and higher rates!

Okay guys&gals, off you go! Get irresponsible! (I'll watch from here). ;)

Edited by Sledgehead

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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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