Jump to content
House Price Crash Forum
Sign in to follow this  
dude wheres my house

Oh My God

Recommended Posts

It all sounds perfectly reasonable. The managing director of my firm (some 4 years ago) let me in on his newfound knowledge that your net worth was the value of your property less the value of the mortgage. And other stuff less debts outstanding. This was a 42 year old MD of a professional design firm who'd spent his whole working life dealing with developers. Apparently, none of it sunk in. And he wasn't someone I'd call thick at all.

Age & education seem to be no barrier to stupidity.

Share this post


Link to post
Share on other sites
only in the UK could somebody so stupid have amassed £140K of equity in property and not know such basic facts about their mortgage. I hope they trade up significantly so they get badly burnt over the next few years.

Let's look at the salient facts:

This guy has 140k equity in property.

You don't.

You can always tell a loser by the way they wish ill on those more successfull than themselves.

Share this post


Link to post
Share on other sites

He said it was his first foray into the housing market.

Which begs the question : How did he come to own the property. And also have a morgage on it?

Maybe it was bought or part gifted from family ?

Share this post


Link to post
Share on other sites
Let's look at the salient facts:

This guy has 140k equity in property.

this is true

You don't.

this is true

You can always tell a loser by the way they wish ill on those more successfull than themselves.

I am wealthier than the OP of that thread on MSE. Am I a loser because it's not invested in property?

[ Text removed by Moderator ]

Share this post


Link to post
Share on other sites
only in the UK could somebody so stupid have amassed £140K of equity in property and not know such basic facts about their mortgage. I hope they trade up significantly so they get badly burnt over the next few years.

Only in the uk would one see such mindless, yobbish spite at the sight of someone who has had a bit of good luck. With the BTLs there is just the shadow of a case that what they are doing is morally wrong. This guy isn't BTLing. You are wishing serious harm on him for not understanding a boring fact about the housing market.

The bottom line is:he has £140 000. I bet you haven't. He has a life. I bet you haven't.

No, I am not going to explain "life". Google it.

Share this post


Link to post
Share on other sites
Guest d23
this is true

this is true

I am wealthier than the OP of that thread on MSE. Am I a loser because it's not invested in property?

I do wish ill on that person, sorry if that upsets you, but they and you can all die in a fire as far as I care. Now jog on.

all homeowners with equity can die in a fire for all you care?

the op in the MSE thread may be a financial spastic but I wouldn't wish any ill on him based on a paragraph he wrote on a forum; theres every chance his ineptitude may lead to him being out of pocket but not sure I want to see him / her destitute (or burnt in a fire) on this evidence.

surely your bitterness is better directed at the VI's, BTL'ers and policymakers that were far more instrumental in creating this bubble than some guy with little financial awareness on MSE?

Share this post


Link to post
Share on other sites
This guy has 140k equity in property.

Good point. I wonder how on earth he managed to acquire it, if he doesn't (by his own admission) know the first thing about the process of buying and selling a residential property? Presumably he would have learnt the answers to at least some of the questions he was asking on that thread through the process of buying the home he now wants to sell.

Share this post


Link to post
Share on other sites
I am wealthier than the OP of that thread on MSE.

If that were true (and it patently isn't) surely you should have declared it to the Benefits people?

I do wish ill on that person, sorry if that upsets you, but they and you can all die in a fire as far as I care. Now jog on.

I do hope you sued the charm school.

Share this post


Link to post
Share on other sites
Let's look at the salient facts:

This guy has 140k equity in property.

You don't.

You can always tell a loser by the way they wish ill on those more successfull than themselves.

If you measure success in life by how much money does one have - then perhaps you are right, but quite sad also. Remember, you can't take it with you when its your time to go...

Share this post


Link to post
Share on other sites

I am only bitter towards the OP of that thread because they are a blatant idiot, not that some of the posters in this thread are any better. Good luck with your fatal fire-related encounter.

Share this post


Link to post
Share on other sites

I think it emphasises a couple of points, the first being that their are many people in this country who are financially clueless. The question itself beggars belief. Secondly, the equity in this property is a result of them doing nothing more financially savvy than living in it. They did not invent a cure for cancer and patent it, they lived in a property like most people do. Now whilst this seems like good luck to some posters the basic point is that the equity will have to be paid by someone else joining the property ladder. Like all pyramid schemes only those at the top benefit, those at the bottom better get used to eating beans on toast as without new entrants, the whole edifice collapses. Before everyone starts cheering, that will mean a recession, which will mean a loss of jobs, and a general decline in the economy, and our standard of living.

I think the vast majority of people [who are middle class now] will quickly find themselves back in the realms of the working class. The rich will remain so as they always do, but the vast majority of people will end up as losers, a very sobering prospect indeed and one not to be glib about.

Edited by SMAC67

Share this post


Link to post
Share on other sites
The bottom line is:he has £140 000.

You didn't finish that sentence. - The bottom line is : he has £140 000 in equity which he can only access if he chooses to obtain a loan from a bank.

:P

Share this post


Link to post
Share on other sites
Guest pioneer31
I am only bitter towards the OP of that thread because they are a blatant idiot, not that some of the posters in this thread are any better. Good luck with your fatal fire-related encounter.

People like you give this website a bad name.

Now take your toys and clear off!

Share this post


Link to post
Share on other sites
Guest Skint Academic
Like all pyramid schemes only those at the top benefit, those at the bottom better get used to eating beans on toast as without new entrants, the whole edifice collapses. Before everyone starts cheering, that will mean a recession, which will mean a loss of jobs, and a general decline in the economy, and our standard of living.

But if you are already at the bottom because you didn't join the pyramid scam and are effectively living as if in a recession already then why not cheer when the whole structure tumbles? At least that way you have an equal chance again. In fact, you have a better chance if you have prepared for it.

I'm planning my life at the moment on the assumption that we have a year before a recession properly hits.

Share this post


Link to post
Share on other sites
Guest X-QUORK

Sure, the MSE OP was being a bit dim witted - but he made the point that there had been a sudden death in the family, I think we should cut him some slack for having been a bit distracted by that. Having a modicum of compassion for others in difficult circumstances might not be considered "cool", but some of you should give it a go, you'll feel happier about yourselves.

Far Out Bear, strange name for a bear-baiter. :rolleyes:

Daleroxxu, your mother would be so proud of her little boy wishing flaming deaths on others. :rolleyes:

Share this post


Link to post
Share on other sites
I'm planning my life at the moment on the assumption that we have a year before a recession properly hits.

Any other plan if it doesnt happen or doesnt happen within a year?

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.

  • 354 The Prime Minister stated that there were three Brexit options available to the UK:

    1. 1. Which of the Prime Minister's options would you choose?


      • Leave with the negotiated deal
      • Remain
      • Leave with no deal



×
×
  • 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.