This is just a small example of why a property crash cannot be allowed to happen

[Si1]

11 hours ago, headmelter said:

There was no "attack" I think I made valid points but you obviously don't agree. There's no need to be so sensitive.

I called you out on a straw man so you responded with an adhom. Err...

[headmelter]

29 minutes ago, Locke said:

Who is to blame? God?

You got conned. That money was spent decades ago. There is nothing left. Why should I have to pick the tab up for you?

So? 

 

Did you have the intellectual courage to realise the government is evil and the moral courage to stand by this position and spread it to others?

Do you pay NI contributions?... another 'necessary' expense.... My pension contributions are plans for the future and the liklihood the NI contributions won't pay a pension.... The mortgage is so I'll not have accommodation expenses when Im too old to work..... It's called life... Like I said in a previous post use this site to educate yourself and make your choices accordingly.

[headmelter]

18 minutes ago, Si1 said:

I called you out on a straw man so you responded with an adhom. Err...

Oh how cryptic.... There was still no "attack"... and you were being 'sensitive'.

[Si1]

27 minutes ago, headmelter said:

Oh how cryptic.... There was still no "attack"... and you were being 'sensitive'.

No they were completely standard terms.

[Si1]

30 minutes ago, headmelter said:

.... The mortgage is so I'll not have accommodation expenses when Im too old to work..... It's called life... 

No it's not it's called being unable to comprehend foregone opportunity costs. Hey ho.

[cnick]

37 minutes ago, headmelter said:

My pension contributions are plans for the future and the likelihood the NI contributions won't pay a pension....

So what do you call a group of people who in all likelihood won't pay out, even though you have paid in?? ....... apart from the term 'government'..... which is not 'people'??

[headmelter]

30 minutes ago, hotblack42 said:

We are moving out of the area and haven't yet secured a buyer (well 1 family is interested but their place isn't SSTC yet).
House is technically mortgaged but have 99% equity and enough income to rent or buy another house (already do rent a flat currently shared with No.2 son).

We have to move out one way or another, but refuse to lower ourselves to the greedy scumbag borrow to let tactics of max rent to dubious tenants, then moaning and foot dragging every time a maintenance job needs doing.

My point is simply that most people being selfish does not mean all people have to become selfish.  Boomers were dealt a good hand - this did not entitle some of them to press home their advantage quite so ruthlessly.  Some will die before the reckoning.  But most won't and that reckoning is coming..

So you have the means to finance accommodation... But you refuse to sell to a "firesale" buyer... Are you not part of the current problem then only prepared to sell for "what it is worth" ?

[hotblack42]

Looks like we have someone in our presence with time on their hands hoping to provoke a fight with anyone who'll bite.

Not quite a troll though.  A quasi-troll, a semi-troll. The margarine of trolls. The Diet Coke of trolls. Just one calorie, not-trolly enough. 

Poised on ignore..

[headmelter]

13 minutes ago, Si1 said:

No it's not it's called being unable to comprehend foregone opportunity costs. Hey ho.

What forgone opportunity costs? I believe I've planned accordingly & live a comfortable life.... unless you feel not having a Ferrari is a forgone opportunity..

[Locke]

10 minutes ago, headmelter said:

What forgone opportunity costs? I believe I've planned accordingly & live a comfortable life.... unless you feel not having a Ferrari is a forgone opportunity..

Not for you. You're just demonstrating exactly why everyone hates boomers. It's all about you, how you can benefit, how hard done by you will be when the government stops passing you cheddar stolen from us.

Your generation were handed the Light of Western Civilization, bought with the blood of tens of millions of young White men and not only did you squander it, you shat all over it, just so that you didn't have to feel bad about standing up for your heritage against Socialists.

Oh and owning PWOBADEE.

Disgusting.

Edited August 8, 2018 by Locke

[headmelter]

9 minutes ago, hotblack42 said:

Looks like we have someone in our presence with time on their hands hoping to provoke a fight with anyone who'll bite.

Not quite a troll though.  A quasi-troll, a semi-troll. The margarine of trolls. The Diet Coke of trolls. Just one calorie, not-trolly enough. 

Poised on ignore..

What makes you think I'm a troll....I rented thenbought then relocated..... rented due to the state of the 'market' then bought at what I thought was a reasonable entry point and the overall cost of a mortgage as opposed to renting... I was an ardent HPC'er but I can't see govt policy changing & HPC'ers are a significant minority... Everyone makes choices they believe will benefit them....laming others for poor choices smacks of sour grapes. I'm not saying you've made bad choices I simply said the contempt for the older generation on this site is often breathtaking.

[Si1]

17 minutes ago, headmelter said:

What forgone opportunity costs? I believe I've planned accordingly & live a comfortable life.... unless you feel not having a Ferrari is a forgone opportunity..

I'm afraid I find you frighteningly intellectually weak. You barely even grasp the English language.

[headmelter]

3 minutes ago, Locke said:

Not for you. You're just demonstrating exactly why everyone hates boomers. It's all about you, how you can benefit, how hard done by you will be when the government stops passing you cheddar stolen from us.

Your generation were handed the Light of Western Civilization, bought with the blood of tens of millions of young White men and not only did you squander it, you shat all over it, just so that you didn't have to feel bad about standing up for your heritage against Socialists.

Oh and owning PWOBADEE.

Disgusting.

FYI I'm not a "boomer" I've stiil many years work ahead of me.... I make plans for my future according to current trends and change direction when necessary. I don't view my house as "PWOPADEE" I look at it as a HOME... Something we all need... I'm not preventing anyone else obtaining somewhere to live. I've made my choices they might just be better choices than other individuals.... but I've also made choices that weren't as good as other people.... ,You live & learn.

[headmelter]

1 minute ago, Si1 said:

I'm afraid I find you frighteningly intellectually weak. You barely even grasp the English language.

Now who is engaging in ad hom ?

[Si1]

1 minute ago, headmelter said:

Now who is engaging in ad hom ?

It's related to the ongoing argument, not an irrelevant attack. You've failed to understand a really basic financial term. That's hardly ad hominem.

[headmelter]

5 minutes ago, Si1 said:

It's related to the ongoing argument, not an irrelevant attack. You've failed to understand a really basic financial term. That's hardly ad hominem.

No I did't.... I'm well fed, clothed and have a roof over my head and have, in my opinion, adequate plans for retirement.

My kids atre also well fed & have a secure home.

I prevent no one from accessing or obtaining what I enjoy.

Edited August 8, 2018 by headmelter

[Si1]

1 minute ago, headmelter said:

No I did't.... I'm well fed, clothed and have a roof over my head and have, in my opinion, adequate plans for retirement.

Another straw man, that's not what I said. You don't have the basic verbal logic capacity to follow and respond to an argument, you derail it instead with side issues, otherwise known as logical fallacies. My evidence is this thread.

[headmelter]

Just now, Si1 said:

Another straw man, that's not what I said. You don't have the basic verbal logic capacity to follow and respond to an argument, you derail it instead with side issues, otherwise known as logical fallacies. My evidence is this thread.

Sorry professor.... I must try harder.

[hotblack42]

23 minutes ago, headmelter said:

What makes you think I'm a troll....I rented thenbought then relocated..... rented due to the state of the 'market' then bought at what I thought was a reasonable entry point and the overall cost of a mortgage as opposed to renting... I was an ardent HPC'er but I can't see govt policy changing & HPC'ers are a significant minority... Everyone makes choices they believe will benefit them....laming others for poor choices smacks of sour grapes. I'm not saying you've made bad choices I simply said the contempt for the older generation on this site is often breathtaking.

Erm - no. Failed attempt at trolling. Have you not noticed that noone has agreed with you & that you are arguing with several HPC veterans? Do you honestly think anything you have posted on this topic is new? These guys have reviewed this issue for years.  Sometimes its best to stop & do some research.

[Pebbles]

This thread has drifted well off topic hit an iceberg and sunk.

Anyway back on topic we need these to fail but i suspect we wont the government has shown their opinions on falling house prices and their threat to the UK economy.

[headmelter]

39 minutes ago, hotblack42 said:

Erm - no. Failed attempt at trolling. Have you not noticed that noone has agreed with you & that you are arguing with several HPC veterans? Do you honestly think anything you have posted on this topic is new? These guys have reviewed this issue for years.  Sometimes its best to stop & do some research.

As I said I was an ardent HPC'er but changed my position when it was necessary to do so.... I could argue I'm discussing issues with a group of individuals engaged in 'group think' and are so entrenched in their long standing beliefs that they refuse to accept they would be better off changing their position. I could go to the 'singing pig' and state that having  a BTL portfolio is folly unfortunately the sad reality is that it was a shrewd decision at the time based on the existing economic trend.

As an addendum... I "researched it for years" & came to the conclusion there was little liklihood of any significant change in the current policies that have encouraged HPI..... & furthermore there isn't much liklihood for change on the horizon.

Edited August 8, 2018 by headmelter

[UnconventionalWisdom]

1 hour ago, headmelter said:

I was an ardent HPC'er but I can't see govt policy changing & HPC'ers are a significant minority.

I suppose this is the big question... They have thrown everything including the kitchen sink at HPI. Most on here, including me, think it's unsustainable and eventually there is a limit to price manipulation. That, along with a political will to change--corbyn stands a chance because young people are realising they won't have what their parents had, is why it can't go on forever. 

[Wayward]

21 minutes ago, UnconventionalWisdom said:

I suppose this is the big question... They have thrown everything including the kitchen sink at HPI. Most on here, including me, think it's unsustainable and eventually there is a limit to price manipulation. That, along with a political will to change--corbyn stands a chance because young people are realising they won't have what their parents had, is why it can't go on forever. 

Yes...the market manipulation has gone to such extremes that it is now an extremely risky business to buy a house...never has it been such a high risk with high stakes...it so unstable.  This is one of the cruel things about it...ordinary folk are being asked and even induced (HTB etc) to take extraordinary risks and only because of the deliberate policy of UKGOV.  Why oh why did they re-inflate after 2009...this has blighted millions of lives...

[headmelter]

35 minutes ago, Wayward said:

Yes...the market manipulation has gone to such extremes that it is now an extremely risky business to buy a house...never has it been such a high risk with high stakes...it so unstable.  This is one of the cruel things about it...ordinary folk are being asked and even induced (HTB etc) to take extraordinary risks and only because of the deliberate policy of UKGOV.  Why oh why did they re-inflate after 2009...this has blighted millions of lives...

I relocated to NI which had a significant crash/correction after a total bubble in '07.... Prices are creeping back up but I reckon there'll be another credit crunch added to Brexit & increasing IR's should slow things down again but govt will print to 'maintain' UK prices... House prices in England are still overpriced imo but I don't believe it will stop people from buying..... Home ownership is part of the psyche now & the majority of people will still stretch to 'get on the ladder' or move 'up a rung'.

Edited August 8, 2018 by headmelter

[hotblack42]

22 minutes ago, Pebbles said:

This thread has drifted well off topic hit an iceberg and sunk.

Anyway back on topic we need these to fail but i suspect we wont the government has shown their opinions on falling house prices and their threat to the UK economy.

Well said.

FWIW I would now rather see land & property markets propped up until they suddenly run out of control. Hyper inflation, collapse in land values, 20% loans, punitive LVT - bring it on.  Better to see collapse than the f*ckers responsible for this travesty get away with it. I should declare that both my sons are single and positioned to emigrate (1 has already) which makes U.K. collapse less worrying for me than for most.