Persimmon Boss 75 million bonus

[Lloyd90]

16 minutes ago, Whatmuff said:

I think we will see a large crash globally as all the markets are linked one way or another. Yes apologies that's the US markets, however I believe the graph would be as you say very similar to that around the world. I follow the US property market too and Canada has shown signs of being well overvalued and places like Vancouver that saw huge influx of investment, mainly China, is starting to crack. Who knew buying up residential streets and building mansions wouldn't last. 

Aside from the buy to land bank properties (which are outside the reach of the working couple anyway), “average” houses are still selling flat out. 

First time buyers are buying up new builds, older people are moving up the ladder and homes are still selling extremely quick in some areas. 

In Bristol people are still buying houses within days of them coming up for sale.

People are still complaining there isn’t enough housing stock and they’re looking to buy. 

The British people are mad on property ownership. They’re obsessed with it. 

Countires like Spain and Germany have whole cultures of renting for life, but the U.K. is home ownership mad. I saw on TV just the other week a family who rented a 4 bed and their entire monthly outgoing were £1200 and they had pennies left over every month. 

They kept going on and on about wanting to buy, when they worked it out the host told them that the same type of house /bedrooms they wanted would cost them £1800+ a month, and they’d have to save a £40k deposit, which was never going to happen with them being left with nothing every month. 

They still kept saying how they’d buy regardless no matter the cost and went on and on about it. 

Simply can’t see the demand for homes falling with people like that, and they’re not on their own. 

Mind you, they didn’t mind going on and on about how unaffordable things were and how unfair society was, yet still booked 4-5 expensive foreign holidays a year on their credit cards. 

All of my mates who are hard working and sensible have managed to buy homes within the last 2 years we’ll before age 30. 

[grrclark]

46 minutes ago, Whatmuff said:

I think we will see a large crash globally as all the markets are linked one way or another. Yes apologies that's the US markets, however I believe the graph would be as you say very similar to that around the world. I follow the US property market too and Canada has shown signs of being well overvalued and places like Vancouver that saw huge influx of investment, mainly China, is starting to crack. Who knew buying up residential streets and building mansions wouldn't last. 

Vancouver is not really a typical example though, it is a mega desirable location and a super aspirational place to stay and consistently ranks in the top 5 most desirable cities in the world to live in.  Having said that some parts of it are remarkably skanky.

The Chinese have at least 10 fully built cities that have never had any residents, yet the properties are still bought and sold and the price continues to grow which is really nuts.  The rental or purchase costs are already well out of reach of the average Chinese citizen so the properties are doomed to sit empty, yet they are a traded commodity.

I think the potential is there for a crash, no doubt about that, but whether it will happen or not I don't know and to be honest i'm not going to stress myself worrying about it either.  Nothing I can do will change what happens globally one way or the other and i might get hit by a bus next week anyway.

Having had a very mixed year of ups and downs I am reminded that things we have no control over happen all the time, we can do our best to influence things to the good, but sometimes it just doesn't work out that way and spending your life fretting about the next unknown is a fruitless endeavour.

Have the courage to change the things you can and the fortitude to accept those that you can't, but more importantly enjoy whats in front of you whilst it is there, just don't trample on anybody else whilst doing it.

[Lloyd90]

35 minutes ago, grrclark said:

Vancouver is not really a typical example though, it is a mega desirable location and a super aspirational place to stay and consistently ranks in the top 5 most desirable cities in the world to live in.  Having said that some parts of it are remarkably skanky.

The Chinese have at least 10 fully built cities that have never had any residents, yet the properties are still bought and sold and the price continues to grow which is really nuts.  The rental or purchase costs are already well out of reach of the average Chinese citizen so the properties are doomed to sit empty, yet they are a traded commodity.

I think the potential is there for a crash, no doubt about that, but whether it will happen or not I don't know and to be honest i'm not going to stress myself worrying about it either.  Nothing I can do will change what happens globally one way or the other and i might get hit by a bus next week anyway.

Having had a very mixed year of ups and downs I am reminded that things we have no control over happen all the time, we can do our best to influence things to the good, but sometimes it just doesn't work out that way and spending your life fretting about the next unknown is a fruitless endeavour.

Have the courage to change the things you can and the fortitude to accept those that you can't, but more importantly enjoy whats in front of you whilst it is there, just don't trample on anybody else whilst doing it.

Exactly, nothing you can do about it either way. 

A lot of people getting stuck in a negative mindset end up doing themselves no favours. 

Theres a bloke on the money saving expert forum that’s quite famous for just this. I think it was around 2007 when house prices had dipped and were on their way back up. 

The bloke owned 2 houses in London and a relative passed away and left him a 3rd in the capitol. 

Fearing the immediate crash, after being told again and again that the property dip was just the beginning he decided to sell all 3, invest the money and rent. He raved on the forum about how the crash would wipe out all home owners and anyone with a brain would sell up and rent soon so they have no liability. 

He goes absolutely mad these days when anyone mentions that in the time since he sold up (2008-2017ish) house prices have doubled in London. Did his money in the bank double? Not even close. 

 

People get so worked up on the doom and gloom they end up missing out on the ride up.