TheCountOfNowhere Posted September 14, 2020 Share Posted September 14, 2020 55 minutes ago, satsuma said: Patience, patience, these landlords will soon be deep underwater, it’s all coming together I think I told the anecdote of my BTL (ex) friend that I saw recently ( the one with the £2000 dog ) he was pretty despondent about BTL now, for the first time ever and was looking to get out. A couple of us laughed when he said he would sell the houses soon. Quote Link to comment Share on other sites More sharing options...
jiltedjen Posted September 15, 2020 Share Posted September 15, 2020 11 hours ago, TheCountOfNowhere said: https://en.wikipedia.org/wiki/Railway_Mania As with other bubbles, the Railway Mania became a self-promoting cycle based purely on over-optimistic speculation. Many middle class families on modest incomes had sunk their entire savings into new companies during the mania, and they lost everything when the speculation collapsed Yes but the government were also soo balls deep into it that they bailed it out, it was only the second collapse that changed a lot of things Quote Link to comment Share on other sites More sharing options...
TheCountOfNowhere Posted September 15, 2020 Share Posted September 15, 2020 1 hour ago, jiltedjen said: Yes but the government were also soo balls deep into it that they bailed it out, it was only the second That's how I understand it. Quote Link to comment Share on other sites More sharing options...
satsuma Posted September 15, 2020 Share Posted September 15, 2020 12 hours ago, TheCountOfNowhere said: I think I told the anecdote of my BTL (ex) friend that I saw recently ( the one with the £2000 dog ) he was pretty despondent about BTL now, for the first time ever and was looking to get out. A couple of us laughed when he said he would sell the houses soon. I suppose he can always sell the dog Quote Link to comment Share on other sites More sharing options...
TheCountOfNowhere Posted September 15, 2020 Share Posted September 15, 2020 1 minute ago, satsuma said: I suppose he can always sell the dog I think people are buying puppies. No one wants a fully grown dog. A bit like a second hand car. Quote Link to comment Share on other sites More sharing options...
koala_bear Posted September 15, 2020 Share Posted September 15, 2020 12 hours ago, TheCountOfNowhere said: That's how I understand it. Yes, it lead to a few modern accounting principles and conventions being introduced. Quote Link to comment Share on other sites More sharing options...
adarmo Posted September 16, 2020 Share Posted September 16, 2020 On 14/09/2020 at 18:43, TheCountOfNowhere said: The establishment wont end this until something really gives. The best parallel is the railway mania, parliament was full of VI ****s, but the 2nd collapse was unstoppable. The same will happen, people just cant see it yet. Not sure that is the best parallel, it's a different asset class for a start. Railways were a new technology and just like modern tech firms were loss making to start with. The optimism was overblown (1999 anyone) but the railways with good financial planning survived. Many didn't. The housing bubble should be compared to other property bubbles. Fundamentally are we looking like 2008 or 1989, or an earlier boom and bust cycle? As many point out we could have inflation and the question i have there is what will happen to the hundreds of billions thrown into the economy the past six months? Quote Link to comment Share on other sites More sharing options...
Recommended Posts
Join the conversation
You can post now and register later. If you have an account, sign in now to post with your account.