Comments on: “House Price Crash” (HPC) Website Mentality

By: J Levene

J Levene — Sat, 19 Dec 2009 21:36:22 +0000

Oh and by the way, I have made a fortune from my accurate crash predictions. I am in property and still own a few (commercial, sold all residential at the height). As a bit of advice to would be investors:
1) Buy commercial, better returns and far far less headache.
2) Buy in cash or very low mortgage.
3) Never trust an agent, whatever they say is a lie and believe the opposite. It is amazing that every house I look at already has an offer!!!
4) The agents will not give you any great property deals, they give those to friends like me who give them kick backs.
5) If you are selling and you get an offer before the property has been marketed, they have undervalued you (see point 4).
6) If you are looking for a house wait until the end of 2010 to buy.
7) Banks are asking for large deposits to cover upcomming crash and are only giving 25% deposit mortgages to those who can deffinately afford negative equity without a repo.

By: J Levene

J Levene — Sat, 19 Dec 2009 21:25:31 +0000

Well it is 2 years after the original post and boy were you wrong. There was a crash and there will be a bigger one in 2010 especially after the election when we loose our AAA+ rating. By re-rating now the rating agencies will be accused of influencing an election and many economists and politicians have stated that we will not know the full extent of the GB debt until after the election. Hold on the rolacoaster just about to really speed up!!

P.S. Only stats you can believe is Land Registry as these are factual. Nationwide and Halifax reflect valuations and not completions so any idiots that are thinking of quoting them in response to this post!!!

By: 50% Deposit

50% Deposit — Sat, 17 Oct 2009 22:06:52 +0000

they totally hate me http://www.ho-tel.co.uk

im the most banned person on HPC ever.

By: andrew webster

andrew webster — Wed, 29 Oct 2008 21:44:40 +0000

I bought at the highest point on the recommendation of this website. Now I’ve lost my job and I’m left with a £200000 mortgage, three kids and a wife with an expensive c*c**n* habit and no income. Thanks for all the positive talk in the past. As they say nobody ever lost money under-estimating the intelligence of the public. I am just one of those gullible idiots who believed that positive thinking will overcome all obstacles. It doesn’t. In France and in Russia this sort of thing led to a revolution.

By: John

John — Fri, 05 Sep 2008 20:49:06 +0000

If it wasn’t for the dumb money I wouldn’t have been able to sell my three flats in May 2007. Thanks boys!

By: Luddemy

Luddemy — Tue, 02 Sep 2008 04:03:05 +0000

wow
its very point of view.
Nice post.
realy good post

thx

By: The Landlord

The Landlord — Fri, 15 Aug 2008 07:03:28 +0000

@geoff,

What exactly was I wrong about? I never said there wasn’t going to be a slowdown in the market…

By: geoff

geoff — Thu, 14 Aug 2008 21:18:52 +0000

JOIN KIRSTY ALLSOP IN EATING HER HAT AS YOU WAS ABOUT AS RIGHT AS HER…THIS CRASH WILL SORT THE MEN FROM THE BOYS….

By: DrBubb

DrBubb — Sat, 02 Aug 2008 18:44:21 +0000

Well. We have a year’s hindsight after the peak now, and it is very clear that a House Price Crash is underway.

Those that thought the force of gravity could be overcome by aggressive finance, hype, spin, and misplaced confidence are being forced to eat their hats, and subsidise their buy to lets.

A property correction could have been brought about in 2005, with less dire impact on the economy. And Governor Mervyn King would have liked that, but the BofE lost its nerve. Gordon Brown got his wish, and pushed off a recession for a few more years until after he became Prime Minister. Now he, and the country, will pay the price of his hubris, and the tricks that a country of property bulls so willingly fell for.

Who got it right? Fred Harrison, who foresaw and foretold the last two years of a “Winner’s Curse”:
http://www.youtube.com/watch?v=_C-Nd_MStxU

By: The Landlord

The Landlord — Sat, 02 Aug 2008 13:29:20 +0000

I was an “amateur” when I invested, and I’m doing just fine.

I don’t think it has to do with the “amateur” status. The people that are in trouble saw pound signs and run with the idea of investing in property, without actually doing any research, or taking into account what would happen if interest rates rise, property prices drop and fixed rate periods come to an end. I think it’s safe to say that they had a short term vision, which is why they’re in trouble.

Those people aren’t strictly “amateurs”, they’re just a tad, well, they…lack common sense. Preparing for the worst in this kind of investment is “common sense”, at least to me. That’s why I believe in investing “safely”

I don’t blame the lenders; I blame the people that didn’t prepare themselves

Regardless, HPC do have a mob mentality, and it’s not necessary. For example, I’ve witnessed them ridicule someone just because they’re a BTL landlord. Sad part is, they actually want Landlords to lose money and get into debt. To them, that would be funny. I personally don’t get it. And that’s what those images are about.

I can’t afford a Ferrari, but I’m not going to insult someone for owning one, or twenty.