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I Told You So

What Is Wrong With People

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2 people in my office have both put offers in on properties this week, both are happily renting and in no real need to buy, large sums of cash in the bank. I have tryed to talk them out of it in the past saying rates will rise but they thought I was mad when most of the papers were talking of cuts. Even now when most of the papers are running stories on IR rises they still wont change their minds :( I guess you can't help some people.

PS one of them has put in an offer at asking price AHHHHHHHHHHHHHHHHHHHHHHHHHHHHH

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2 people in my office have both put offers in on properties this week, both are happily renting and in no real need to buy, large sums of cash in the bank. I have tryed to talk them out of it in the past saying rates will rise but they thought I was mad when most of the papers were talking of cuts. Even now when most of the papers are running stories on IR rises they still wont change their minds :( I guess you can't help some people.

PS one of them has put in an offer at asking price AHHHHHHHHHHHHHHHHHHHHHHHHHHHHH

Halifax has confirmed HPI running at a frenzied pace--up 2% in just one month. Naturally, a lot of sheeple are going to panic and get in quick before they go up another 2% next month, 3% the next and so forth. The VIs have done a masterful job in convincing enough people that house prices only go up and Gordon is happy to oblige with low IR and dangerous debt levels. Its how bubbles inflate. Bubbles pop when IR and unemployment begin to rise as they are now doing.

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I tend to just laugh now. Sure, if someone wants advice I will happily give it... but everyone just act like sheep. I heard earlier today someone is buying a Harley motorbike as an investment! Buy for pleasure by all means, but not as an investment.

It's me pension innit'

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Let them do it. We need some people to destroy their lives for us to get cheaper property. Fact unfortunately!

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Halifax has confirmed HPI running at a frenzied pace--up 2% in just one month. Naturally, a lot of sheeple are going to panic and get in quick before they go up another 2% next month, 3% the next and so forth. The VIs have done a masterful job in convincing enough people that house prices only go up and Gordon is happy to oblige with low IR and dangerous debt levels. Its how bubbles inflate. Bubbles pop when IR and unemployment begin to rise as they are now doing.

This bubbles being going on too long. With muliple triggers in place i.e high levels of debt, increasing IR's it 'aint going to go pop it's going to go BANG

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Halifax has confirmed HPI running at a frenzied pace--up 2% in just one month. Naturally, a lot of sheeple are going to panic and get in quick before they go up another 2% next month, 3% the next and so forth. The VIs have done a masterful job in convincing enough people that house prices only go up and Gordon is happy to oblige with low IR and dangerous debt levels. Its how bubbles inflate. Bubbles pop when IR and unemployment begin to rise as they are now doing.

There is no shortgage of strange behaviour around. Around my way a 3 bed detached house had a price reduction to a price that when it sells will mean a reduction in the "going price" for that sort of property on that road. However, what has happened according to EA signs at least, is that the house in question hasn't yet sold, but a much more expensive property down the road at "market top" price suddenly sold. I was a bit confused by this. Of course I'll never know what actually happened. But I wondered if the case was that someone had made a lowish offer on the expensive house, which the owners had refused. Once the other house (about 10-15 doors away) was on the market, it could be that the owners of the expensive house suddenly decided to accept the offer before the offerer noticed the cheaper house. OK, that's my bit of paranoia out of the way for today.

Billy Shears

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2 people in my office have both put offers in on properties this week, both are happily renting and in no real need to buy, large sums of cash in the bank. I have tryed to talk them out of it...

I wouldn't get involved, if they have money in the bank then you cannot consider them to be marginal buyers. It's akin to spunking your bonus on a nice new motor, it doesn't make much financial sense but there you go.

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Guest Bart of Darkness

Let them do it. We need some people to destroy their lives for us to get cheaper property. Fact unfortunately!

As long as they don't try to claim compensation for financial decisions they made.

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As long as they don't try to claim compensation for financial decisions they made.

Thats the problem isn't it. Thats why I find it so frustrating that people can go bankrupt so easily.

They should be MADE to pay it off and have everything confiscated and sold to pay part of the

debt, kids or no kids!

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They should be MADE to pay it off and have everything confiscated and sold to pay part of the

debt, kids or no kids!

The problem is you can't confiscate the kids and send them down coal mines to work off the debts, because we don't have any coal mines anymore.

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The problem is you can't confiscate the kids and send them down coal mines to work off the debts, because we don't have any coal mines anymore.

You know what I mean. People seem to get preferential treatment if they've got kids. Hardly fair is it!

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You know what I mean. People seem to get preferential treatment if they've got kids. Hardly fair is it!

Erm, I guess the thinking is that the kids should'nt have to suffer because of poor financial decisions made by their parents. Seems reasonable to me.

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Are they poor financial decisions though or are they really great financial decisions as we all know the penalty for bankruptcy, slapped wrist and 3 months order.

bllx - no-one should be allowed to go bankrupt - they should have to pay everything back.

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Erm, I guess the thinking is that the kids should'nt have to suffer because of poor financial decisions made by their parents. Seems reasonable to me.

Why? It just encourages people to pump out some kids to get more welfare money.

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Let them do it. We need some people to destroy their lives for us to get cheaper property. Fact unfortunately!

Mr Money Lender: And finally, monsieur, one last btl.

Mr LL: No.

Mr Money Lender: Oh sir! It's only a tiny little one.

Mr LL: No. Fu@k off - I'm full... [belches]

Mr Money Lender: Oh sir... it's only wafer thin.

Mr LL: Look - I couldn't buy another thing. I'm absolutely on the limit. Bugger off.

Mr Money Lender: Oh sir, just... just one...

Mr LL: Oh all right. Just one more.

Mr Money Lender: Just the one, sir... voila... bon appetit...

[Mr LL somehow manages to stuff the wafer-thin btl into his portfolio and then swallows. Mr Money Lender takes a flying leap and cowers behind some potted plants. There is an ominous splitting sound. Mr LL looks rather helpless and then he explodes, covering waiters, diners, and First Time Buyers in a truly horrendous mix of half digested food, mortgage demands, entrails, credit card bills and parts of his body. People start vomiting.]

Mr Money Lender: [returns to Mr LL's table] Thank you, sir, and now the keys please .

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2 people in my office have both put offers in on properties this week, both are happily renting and in no real need to buy, large sums of cash in the bank. I have tryed to talk them out of it in the past saying rates will rise but they thought I was mad when most of the papers were talking of cuts. Even now when most of the papers are running stories on IR rises they still wont change their minds :( I guess you can't help some people.

PS one of them has put in an offer at asking price AHHHHHHHHHHHHHHHHHHHHHHHHHHHHH

Same here. Very respectable company, very educated people. Both buying 350k+ 4-bed properties in "nicer areas". Around 10x their pre-bonus salaries (outer south east). Leveraging off their 175k existing properties.

"Property prices only ever go up" is their common mantra. And "it's the right time to buy - the housing market is a little bit soft... but that's it. They're gonna start going up again real soon".

I genuinely don't know whether to try and talk them round or just let them get on with it. They've given me enough "smug" comebacks over the last 5 years...

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I genuinely don't know whether to try and talk them round or just let them get on with it. They've given me enough "smug" comebacks over the last 5 years...

I have found the best approach is to laugh at them in a derisory fashion - if you try and debate they either don't understand or don't want to understand - laughing at them out loud actually makes them stop and think

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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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