Jump to content
House Price Crash Forum
Sign in to follow this  
debtfree

Gamble.. Gamble

Recommended Posts

Recently in the news, certain footballers have made the headlines for addiction to gambling. we could make assumptions, but the ones that seem to be making a name for themselves are the type of player that likes too win. it's like a disease, gets a grip of you; the thing with gambling , is that 90% lose. the footballers have such stubborn attitudes being winners, that they keep on trying.. until it makes the headlines... :D

Being that property prices haven risen so much recently, is this not what buy a BTL is...? :ph34r:

the addiction at the highest level of its peak in what could be the last of the 'fools' with cheap money,...? they are a banks dream, complete gamblers.

just a thought.

Share this post


Link to post
Share on other sites

Recently in the news, certain footballers have made the headlines for addiction to gambling. we could make assumptions, but the ones that seem to be making a name for themselves are the type of player that likes too win. it's like a disease, gets a grip of you; the thing with gambling , is that 90% lose. the footballers have such stubborn attitudes being winners, that they keep on trying.. until it makes the headlines... :D

Being that property prices haven risen so much recently, is this not what buy a BTL is...? :ph34r:

the addiction at the highest level of its peak in what could be the last of the 'fools' with cheap money,...? they are a banks dream, complete gamblers.

just a thought.

I have a friend in Doncaster who is a buy-to-let junkie. He has bought several houses in the last few years and intends to buy one a year from now on on his factory manager's salary. The latest has been on an interest only mortgage. He harps on continuously about 'safe as houses' and cannot see he is taking a risk should things go wrong with the economy, his job, interest rates etc.

Fred Harrison's book warns of a 'winners curse' phase starting about now up to 2010 when the economy finally crashes. The phase is characterised by people like my friend that pay more and more for these assets without realising they can go down in value, but thinking you can only win in the property game. Thats what 'safe as houses' means, my friend tells me!

Basically, you are right, it is like a gambling addiction. I read recently that markets are mired in deception, as deception turns to enlightenment then the market starts to move (in either direction) as more and more realise what is really going on. People are being deceived now by the market as most of the signs still look positive. We'll see.

Share this post


Link to post
Share on other sites
Thats what 'safe as houses' means, my friend tells me!

... People are being deceived now by the market as most of the signs still look positive. We'll see.

The problem here is that confidence is a lagging indicator. You friend probably has practically eveyone he knows telling him that he can't go wrong with property, and all the TV shows etc will back him up.

If he was smart he would realise that the cycle has turned, and that it's time to get out.

Share this post


Link to post
Share on other sites

Join the conversation

You can post now and register later. If you have an account, sign in now to post with your account.

Guest
Reply to this topic...

×   Pasted as rich text.   Paste as plain text instead

  Only 75 emoji are allowed.

×   Your link has been automatically embedded.   Display as a link instead

×   Your previous content has been restored.   Clear editor

×   You cannot paste images directly. Upload or insert images from URL.

Loading...
Sign in to follow this  

  • Recently Browsing   0 members

    No registered users viewing this page.

  • 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%



×
×
  • Create New...

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.