Daily Doom

[Diver]

Good of course!

Doomed = Boomed!

(for those with ready cash, no debts, and top IT skills)

Screwed then DP

[sasguru]

God, it must be great to be you. Whether you 'know about it' beforehand or not will make not one jot of difference to how it affects you.

I don't think I'm great, just frugal and prudent.
It depends how you look at it. If you expect recessions to be a constant feature of the economy as I do, albeit with little chance of predicting exactly when, then you can use the boom times to prepare for them. For that reason I don't particularly care whether there's a recession or not - in fact I welcome one as it will provide the opportunity to buy loads of cheap assets ready fro the next upturn.

[rootsnall]

it will provide the opportunity to buy loads of cheap assets ready fro the next upturn.

When ? Please tell me.

[Charles Foster Kane]

I don't think I'm great, just frugal and prudent.
It depends how you look at it. If you expect recessions to be a constant feature of the economy as I do, albeit with little chance of predicting exactly when, then you can use the boom times to prepare for them. For that reason I don't particularly care whether there's a recession or not - in fact I welcome one as it will provide the opportunity to buy loads of cheap assets ready fro the next upturn.

That's what you like to think, because it makes you feel safe. Just because you're paranoid doesn't mean they're not after you.

[sasguru]

When ? Please tell me.

Over the next 3 years. At it's peak property was about 40% over it's long term average. I'd consider buying when it's back down to that level, but I reckon it will overshoot downwards. In recessions, people are usually more gloomy than warranted, just as they are more optimistic than justified in booms. Tis human nature.

[TheBigYinJames]

In recessions, people are usually more gloomy than warranted, just as they are more optimistic than justified in booms. Tis human nature.

I'm sure I read someone else say that earlier in the thread.

[BrilloPad]

When ? Please tell me.

IMO wait for repossessions to dry up. prices will then stop falling. as the overhang is sold prices will remain static. then they will rise.

Though there is going to be a big difference between flats and houses.

[BrilloPad]

Yes.

Flats tend to be flat, whereas houses tend to be pointy.

I have never understood the difference between a Maisonette and a flat. Sounds jolly rum to me.