Re: one for TW


"Tumbleweed" <thisaccountneverread@xxxxxxxxx> wrote in message
news:59cvhnF2jsnm0U1@xxxxxxxxxxxxxxxxxxxxx
"biggirlsblouse" <big.girl@xxxxxxxxx> wrote in message
news:Oy5Yh.1237$en5.1029@xxxxxxxxxxxxxxxxxxxxxxx
first US... now Spain.... whos next???
http://news.bbc.co.uk/1/hi/business/6595045.stm


Dunno, though I see ours is now rising at 10% according to todays news.
And from what I see on the tv anyone who buys in Spain needs their head
examining.

There are people buying in far more risky places than Spain.

I've noticed loads of adverts recently on the radio for things like "free entry to
the overseas property expo".

Note that I make no predictions, I merely mock those who pretend to *know*
(and not just predict, let alone guess) what house prices will do next
week, next month or next year.

So far, the HPCers have been not only wrong, but spectacularily so. ....but
they like to say that that just means they will be more likely to be proved
right later, usually at some undefined time in the future...

To be fair, there are plenty (probably more) people on the other side who say things
like "can't go wrong with property", "prices are sure to rise over the long term"
etc.

Interesting that the vast majority of the HPC "merchants of doom"* dont have
the courage of their convictions to sell up (though strangely, people who
think prices will rise, often do act on their beliefs by buying).

But it's not the same thing. People who think prices will rise can either BTL, or
find a bigger/better property for themselves which they'd prefer to live in anyway,
so they don't need to compromise their standard of living/accomodation.

People who think prices will fall will need to either move into a smaller house, so
compromising their standard of living, or rent, which again would probably compromise
their standard of living. It's not a purely financial equation.

I like my house and even if I was confident prices would fall, I'd only sell it if
the buyer guaranteed he'd rent it back to me at the going market rent for as long as
I wanted it, and would sell it back to me at the going market price if I ever wanted
to buy it back in the future.

--
Andy


.

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