VacantPossession Posted July 15, 2008 Share Posted July 15, 2008 We now have a new mythical personality invented by the media and VI pundits: That of the "Predatory Buyer". There is NO SUCH thing as a predatory buyer, there are just buyers. If a commercial buyer was, for the sake of argument, a "predator" he or she would in any case certainly NOT be buying at a point when the crash has hardly got into second gear yet...there are four more gears to go. If I go to the supermarket wanting Strawberries and they are £3 a punnet, I won't buy them. If they fall to £1.99 I might buy a punnet, but that does not make me "predatory"; it just means I fancy some strawberries but there is a limit to the price at which I buy them. So too with houses. When are the media and VI's going to get it into their thick heads? People are holding back NOT because they cannot get loans (another myth) BUT BECAUSE THEY KNOW THE PRICES ARE TOO HIGH and they are waiting for them to fall AT LEAST 30%, possibly more. It is mis-information to say (as RICS has done in its latest "report") that buyers want to buy but can't because they cannot get a loan. There are PLENTY of loans available...it's just that you can't get a LIAR LOAN anymore. Nor can you get a 100% mortgage, but in sensible times before the self cert mortgage, you couldn't get such a dodgy loan either, BUT NO-ONE claimed then that loans were difficult to obtain. If you applied for a mortgage in 1985, it was very rare to get a loan without proper accounts, with evidence of true income and you certainly could not expect to get away with no deposit. THIS WAS A NORMAL LOAN. Despite the claimed current shortage of loans, you CAN STILL get this type of mortgage perfectly easily, and in fact most lenders want to lend on this basis. But we are being persuaded to believe that loans have all but ceased. This is complete rubbish and is purely VI spin. There is ONE fundamental reason why houses are not shifting and one reason only: THEY ARE TOO EXPENSIVE and potential buyers are waiting for the bottom of the market. All the rubbish spouted about other reasons are largely hot air and hype. VP Quote Link to comment Share on other sites More sharing options...
beans on toast Posted July 15, 2008 Share Posted July 15, 2008 (edited) Next they'll be calling buyers HPI terrorists and locking us up for 42 days. "If I go to the supermarket wanting Strawberries and they are £3 a punnet, I won't buy them. If they fall to £1.99 I might buy a punnet, but that does not make me "predatory"; " BTW Waitrose is doing a punnet of strawberries for £1.99 - quite tasty too. Edited July 15, 2008 by beans on toast Quote Link to comment Share on other sites More sharing options...
Radge Posted July 15, 2008 Share Posted July 15, 2008 STR = Cash Buyer = Vulture = Predatory Buyer = Predator = Predatory Paedophile I think we should assure the crowds of ignorant chavs in Southampton who'll be moved into bought up excess 'executive flats' that we have no intention of buying the overpriced tat, so they can keep the lid on their paedohysteria. Quote Link to comment Share on other sites More sharing options...
Mikhail Liebenstein Posted July 15, 2008 Share Posted July 15, 2008 We now have a new mythical personality invented by the media and VI pundits: That of the "Predatory Buyer". Quote Link to comment Share on other sites More sharing options...
VacantPossession Posted July 15, 2008 Author Share Posted July 15, 2008 STR = Cash Buyer = Vulture = Predatory Buyer = Predator = Predatory Paedophile I think we should assure the crowds of ignorant chavs in Southampton who'll be moved into bought up excess 'executive flats' that we have no intention of buying the overpriced tat, so they can keep the lid on their paedohysteria. Ah, could you be a Chris Morris enthusiast? VP Quote Link to comment Share on other sites More sharing options...
dolce vita Posted July 15, 2008 Share Posted July 15, 2008 (edited) And it also makes me laugh when I hear newbie BTL landlords say that when prices get to a certain low level (some are saying that that is NOW) "investors" will snap up the houses and therefore keep prices up. These are supposed to make up a part of your "predatory buyers" and their "pent up demand" will keep prices stable. Ignoring the fact that this is bullsh1t, where are these people going to get the money from? Without massive HPI they haven't got any. All their wealth is dependant on mewing and mewing is dependant on massive HPI. Check mate. Edited July 15, 2008 by dolce vita Quote Link to comment Share on other sites More sharing options...
Leonard Hatred Posted July 15, 2008 Share Posted July 15, 2008 Heard of the problems with "predatory sellers"? They sucker estate agents into having their house on the books, when they've actually got no intention of selling for anything other than an unachievable price. As a result, hundreds of innocent estate agents are losing their jobs Quote Link to comment Share on other sites More sharing options...
Recommended Posts
Join the conversation
You can post now and register later. If you have an account, sign in now to post with your account.