Objective Developer Posted July 18, 2007 Author Share Posted July 18, 2007 We had very similar circumstances and STRed for exactly the same reason Tuffers. I get a bit peeved when indirectly we're accused of being greedy opportunists. I think you can be opportunistic without being greedy. I think that Tuffers and your self have made very astute investment decisions, although your motivation is anything but greed. Actually, I’d describe it as very brave. Quote Link to comment Share on other sites More sharing options...
Guest X-QUORK Posted July 18, 2007 Share Posted July 18, 2007 I think you can be opportunistic without being greedy. I think that Tuffers and your self have made very astute investment decisions, although your motivation is anything but greed. Actually, I’d describe it as very brave. Time will tell, but thanks OD. By the way, did you know your avatar comes from a house in Oxford? I think the shark has gone now, but it was there for years as I recall. Quote Link to comment Share on other sites More sharing options...
Blue Peter Posted July 18, 2007 Share Posted July 18, 2007 Sometimes, I wish I had. Maybe then I wouldn't be wasting my time feeling guilty about all the ignorant little people I spent the intervening 30 years robbing. Helping myself to the proceeds of their collective efforts whilst laughing in their stupid face. Is that why you post on here, then? Peter. Quote Link to comment Share on other sites More sharing options...
Objective Developer Posted July 18, 2007 Author Share Posted July 18, 2007 Time will tell, but thanks OD. By the way, did you know your avatar comes from a house in Oxford? I think the shark has gone now, but it was there for years as I recall. Glad you noticed! The shark is still there! I lived very close to it in my student days. Quote Link to comment Share on other sites More sharing options...
Selling up Posted July 18, 2007 Share Posted July 18, 2007 Your STR decision is what any sane and bright person would do. However, some on here seem to be poised with the aim of getting into BTL or the future equivalent! The buggers! Guilty, your honour. Like a good speculator I have sold high (although admittedly this was due to relocation), and plan to buy low. If I can afford it, I may also buy an investment property when prices are low and sellers are desperate to offload property. I grant you that that is opportunism. But your honour, you must acknowledge that it is not speculation per se that has led to a housing bubble. Rational speculation (buy low, sell high) works to increase liquidity and stabilise prices in a market. It is incompetent speculation without a historical perspective on the risks that has led to the current mania (buy high, never sell). Anyone who has moral qualms about an STR strategy should reflect that if more people did it we wouldn't be in this damn bubble in the first place. As to the housing bubble: I didn't make it. I do not like the bubble. It is damaging to almost everyone. If I could wave a magic wand and take us back to, say, year 2000, and make house prices rise only in line with inflation, I WOULD. But guess what - I can't. There have been huge and socially damaging price shifts in this practically useful asset, and I see more to come (though downwards). Therefore buying low and selling high may be a responsible strategy both in terms of benefit to the individual and to broader society. Quote Link to comment Share on other sites More sharing options...
Guest Yeahbutnocrash Posted July 18, 2007 Share Posted July 18, 2007 (edited) Property will fairly soon (5-10 years) become a depreciating real term asset, much like cars, much like it actually is.It baffles me why people think bricks laid by hand into a specific configuration, will offer greater economic capacity in the future, unless they believe the future occupants will be of vastly greater economic capacity then themselves. Maybe everybody else in the country is expecting some kind of productivity renaissance. Obviously there is some kind of super-human genome project in the pipeline, whereby the earth is repopulated with far more efficient human beings, that I have somehow missed whilst scowering the media for the tiny morsels of relevant or useful information therein. It's a speculative market bubble on an age old asset that remains in abundant production. It's tool for raising capital from the population in order for western economies to spend their way out of a post dot-com 9/11 recession under the guise of a consumer boom. Enter at your own uneducated peril. For God sake Eddie George even came out and said so. p.s. Why doesn't my attachment/upload button work? Good point - It must partly be the effect of all the property shows on TV and stuff in magazines People are now buying into a 'lifestyle' and location (location, location) and fabulous interior etc which they also feel is an investment and feel it is unlikely to depreciate based partly on what the EA said They are buying the dream it seems not simply a house... Edited July 18, 2007 by Yeahbutnocrash Quote Link to comment Share on other sites More sharing options...
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