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I've Lost £150k Waiting For This Crash!


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The £130k property that I almost bought back in 2002 is now worth £250k.

Add the £30k I've spent in rent, that equals £150k and I'm gutted!

On top of that my 7 year old has asked me why we don't own our own home!

I can't bring myself to tell him it's because I'm a dumb a$$.

Anyone feel the same?

Not having the crystal ball all 'owners' seem to posess excuses you somewhat.. <_< You wouldn't be a dumb ass if prices had fallen and you'd bought back in then would you? I wouldn't worry about it. I bought 1994 for 25k, sold in 2001 for 100k, now similar places are going for around 160k. I don't include rent in money I supposedly 'lost' (didn't have it in the first place??)- I got somewhere to live in exchange for that rent money, so the money wasn't wasted at all. Don't torture yourself, and be glad you've got a clever kid, but don't let him watch so much TV in future ;):P

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The £130k property that I almost bought back in 2002 is now worth £250k.

Add the £30k I've spent in rent, that equals £150k and I'm gutted!

On top of that my 7 year old has asked me why we don't own our own home!

I can't bring myself to tell him it's because I'm a dumb a$$.

Anyone feel the same?

The 60k place I would have bought in 2000 if my parents had guarantored the mortgage while I was a student ("No, no, you should wait a couple of years!") is now worth around £150k. With rent payments, this has probably cost me around £100,000.

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The £130k property that I almost bought back in 2002 is now worth £250k.

Add the £30k I've spent in rent, that equals £150k and I'm gutted!

On top of that my 7 year old has asked me why we don't own our own home!

I can't bring myself to tell him it's because I'm a dumb a$$.

Anyone feel the same?

I think alot of people wish they were in your position rather than buying their retirement home in Spain to see it crash or be knocked down or the new BTL breed starting to feel the world of Negative Equity having bought into new builds. Go out and buy one now and make your second mistake.

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Yes, there has to come a time when you put your hand up and say "I got it wrong, made a bad call!", or you just end up looking a fool.

I think that time has passed for most of the bears, having seen more HP inflation (I speak from my perspective in the SE) in the last couple of years than is ever likely to be wiped out by a crash. Even in the 'GREAT CRASH!' it was about 15% nominal, which really isn't that much compared to recent gains. Even in these parts of the country that have been stagnating for the last couple of years, with hindsight, it would have made far more sense to buy than rent - especially if it continues another few years.

I'm happy to admit I got it wrong, sounds like you are too! I think there will be plenty here calling the crash for the next 10 years though.

Just need to make the best you can of a bad hand now. I can't complain really though, I learnt a lot in the meantime, saved a lot of dough, got myself a nice deal on a shared ownership place now, which leaves me plenty left over for a big telly and a fast car :) Still have to worry about the pension one day though I guess ....

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Yes, there has to come a time when you put your hand up and say "I got it wrong, made a bad call!", or you just end up looking a fool.

I think that time has passed for most of the bears, having seen more HP inflation (I speak from my perspective in the SE) in the last couple of years than is ever likely to be wiped out by a crash. Even in the 'GREAT CRASH!' it was about 15% nominal, which really isn't that much compared to recent gains. Even in these parts of the country that have been stagnating for the last couple of years, with hindsight, it would have made far more sense to buy than rent - especially if it continues another few years.

I'm happy to admit I got it wrong, sounds like you are too! I think there will be plenty here calling the crash for the next 10 years though.

Just need to make the best you can of a bad hand now.

The night of the long bottles.

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I can't complain really though, I learnt a lot in the meantime, saved a lot of dough, got myself a nice deal on a shared ownership place now, which leaves me plenty left over for a big telly and a fast car smile.gif Still have to worry about the pension one day though I guess ....

What about a shared pension as well? :lol:

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I can't complain really though, I learnt a lot in the meantime, saved a lot of dough, got myself a nice deal on a shared ownership place now, which leaves me plenty left over for a big telly and a fast car smile.gif Still have to worry about the pension one day though I guess ....

What about a shared pension as well? :lol:

Well if one half of it got subsidised to the tune of 2/3's, then yes please.

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Well if one half of it got subsidised to the tune of 2/3's, then yes please.

Fully subsidised to the tune of 2/3? Reduced rent? What's the breakdown?

Problem is there is often a catch somewhere, especialy when "sharing "the maintenance costs.

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If it was unaffordable in 2002 (with the base rate at 3.5%) then I don't see your dilemma or understand your pain. However, if you didn't buy in 2002 'cos you expected a market crash then that was your decision, or indecision and a very poor call at that.

Looking at your figures your probably exaggerating your lack of gains by quite a bit, you havn't gained 100K equity, but what sacrifices would you have had to make in order to keep up payments to keep up with your pre-conceptions re. what equals success?

As for the kiddie comments - ouch!

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Fully subsidised to the tune of 2/3? Reduced rent? What's the breakdown?

Problem is there is often a catch somewhere, especialy when "sharing "the maintenance costs.

Don't want to pinch someones thread- I've posted my pseronal breakdown before. Search my name and 'shared ownership' if you are interested.

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You fell for the biggest housing scam there is. Half the people on here bang on about not buying because prices are too high and convince people like that you that you should hold out for a crash. While your holding out, writing on here, they are pounding the street buying whatever is left.

Dont be a complete dumbass and buy now. I do not see a crash anytime soon. Its bullsh1t, all of this.

I think you are some sort of weird troll. You say half the people here "bang on" and are "pounding the streets buying whatever is left" which is not really true. Then you say "Its bullsh1t, all of this". Well in that case, why do you come here if it's all bullsh1t? I think you like to wind people up. You joined 14th March and have posted 643 times an average of around 7.5 posts a day. This is quite prolific for a subject you think is all bullsh1t.

Thats just my opinion.

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Well you're dumb if you think property prices are going to crash, they may fall by no more than 5%, but in the long term you will make money in bricks and mortar. Anyway why consider it an investment it's a home not a share gamble or a horse race, you get to live in it and enjoy the rewards of having your own home.

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Well you're dumb if you think property prices are going to crash, they may fall by no more than 5%, but in the long term you will make money in bricks and mortar. Anyway why consider it an investment it's a home not a share gamble or a horse race, you get to live in it and enjoy the rewards of having your own home.

What makes you so certain? US house prices are crashing and they have 'low' interest rates and their houses are about half the price of UK property (a sobering thought indeed).

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Guest Bart of Darkness
I lost millions not playing the lottery last week.

:(

Me too. And the worst thing is, I now know the right numbers.

Hindsight is a wonderful thing.

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