As we continue to go this way and that away, on our property price outlook, I read an interesting reflection that charts the scale of the eighties housing crash from Love Money journalist Cliff Darcy.
If you are too young to remember it then it is well worth a read.
What is interesting is that the writer sold his house a few years back, presumably to rent and take advantage of predicted property price falls, in the interim period he reports his old house has increased in value by 30%. Ouch! That can make you bitter, so I'm guesssing that as with many of the doom-mongerers there is a element of self interest in his opinions, but to his credit he is honest to declare that.
I do loathe some of the online property price obsessives, especially the hardcore, who inhabit various property price forums. These gnarly characters have spent the last 5 years trying to summon up an almighty property crash to enable themselves to jump on the property ladder. However, unfortunately for these self-servers the great 'goddess of property values' has frustrated them and has continued to levitate prices beyond historic trends, whilst they continue to fester in their rented flats.
Imagine how frustrating it has been for these over analytical property gamblers, sat paying rent and been forced to watch property prices tread water, many of them are turning into Gollum type creatures that twist and snarl in their bitterness.
Maybe their predictions will finally come true, but in the meanwhile, 'the pain, the suffering, my precious.'
Many of their posts are disguised as anti-capitalist, however their whole attitude smacks of self interest and envy, the poor dark souls.
As a cautious bunny myself, in these uncertain economic times I am only looking at very high yield property investments, capital appreciation should be left right at the back of any investment decisions as let's be realistic potential short term capital loss will probably be just around the corner.
If prices do crash at least some will be happy, but one things certain, some souls will never be happy, however rich or poor they are.
"We wants it, we needs it. Must have the precious. They stole it from us. Sneaky little hobbitses. Wicked, tricksy, false! "
Read about the eighties property crashGet Discounted landlord insurance
In the booming naughties landlords; neigh property investors could be seen strutting their stuff outside gleaming city centre tower blocks doing their latest deals to expand their ever growing portfolios. Easy money, flash cars, ever lengthening lines of credit. We were slick man!
