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Sinking Feeling

Property Always A Good Investment?

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I remember watching an episode of Local Heroes a few years ago. One of the stories was about William Watts and how having made a fortune out of inventing a new manufacturing process for lead shot, lost the lot investing in property.

Here’s a quote I have found about him and a quote about the Great Crash.

"In 1787, he took a partner, Philip George of the brewing family. George paid £10,000, and the pair made money: they built a shot-tower in London and made enough profit to tempt Watts into becoming a building speculator, with disastrous results: he went bankrupt building the spectacular foundations for Windsor Terrace in Clifton, at the time of the slump caused by the Napoleonic Wars".

"From about 1780 a building boom took place in Britain. ……….when Britain went to war with Revolutionary France in 1793 the boom collapsed and developers and builders were ruined overnight. Hundreds of houses were left half built and without roofs. An observer compared the scene (in Bristol) to a city which had suffered from war or the plague. It was not until the early years of the new century that many terraces were finished, often not to the high standards originally planned".

Note how the crash is blamed on external factors rather than the result of frenzied speculation. Also this fits in nicely with Fred Harrison's 18 year cycle. Harrison places the crash in 1792/1793 and the recession in 1794. This would correlate therefore with 2008 and 2010.

Edited by Sinking Feeling

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Guest casaloco

Indeed, property is in a 18 year cycle.

It's a good investment if you buy at the start of the boom and sell at the top.

If people are encouraging you to invest, going as far as putting programs on TV telling you to invest, then it's time to sell up and take your profits.

Th "smart people" telling you to invest. If they were smart and really thought it was time to buy, THEY wouldn't be telling you, they'de be too busy buying everthing they could.

If it looks too good to be true, it probably is!

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