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Condescending attitudes towards people who bought houses during the boom

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    #152
    Boombastic
    Closed Accounts Posts: 6,496 ✭✭✭Boombastic


    Grumpypants wrote: »
    The thing is lots of those people claiming they had great foresight into the property crash and that they refused to buy a overpriced house because they knew something others didn't were 17 ten years ago and just had no means of getting a loan even if they wanted one.

    I always laugh when I see some 25 year old mouthing of about how he didn't get caught up in the madness. Of course you didn't you were living in your moms house !
    17 years old.....are you forming this theory on the same basis as the house prices will only go up one, or where do you get your information?


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    #153
    CdeC
    Registered Users Posts: 510 ✭✭✭CdeC


    Fr_Fitzexactly wrote: »

    For a time around 2003 in the UK there was a trend for people to hold off with buying a house thinking there was going to be a crash, these people had great forsight but a lot of them thought the crash was going to happen that year, not in 4/5 years time. A good few of these probably gave up waiting for the crash to happen and bought a year or two after.

    It doesn't help to start calling people who bought during the boom idiots and morons. It might have been apparent that a crash was going to happen but nobody knew exactly when. These people had a life and a job and they probably weren't economists. They didn't need to know loads about the economy, things were good and they were making money. We all have great ideas about how to better the economy now but that wasn't the case at the height of the boom. I'd say a lot of those berating people who bought during the boom were too busy watching pokemon to even notice what was going on but they're experts on all things economy now.


    I put my hand up and say that I was looking at property prices all through that time, I am glad that I didn't buy but it was out of circumstance and ****ty job not out of not wanting too.
    I wouldn't call anyone an idiot for buying at that time but I do feel sorry for some people choked by a mortgage. These are the people who should be extra angry at all the incompetent morons in goverment who didn't see it coming and allowed the financial sector to spiral out of control.
    I do believe in some relief for these people but what I want to know is where is all this money that the banks lent out gone. Is it sitting in a swiss bank account??


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    #154
    Grumpypants
    Registered Users Posts: 7,791 ✭✭✭Grumpypants


    Boombastic wrote: »
    17 years old.....are you forming this theory on the same basis as the house prices will only go up one, or where do you get your information?

    Because anyone that was in a position to buy ten years ago would be heading towards 40 today and it is rare to find 40 year olds acting like obnoxious twits on after hours as most understand why families bought their home.


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    #155
    Rabidlamb
    Banned (with Prison Access) Posts: 2,202 ✭✭✭Rabidlamb


    Boombastic wrote: »
    We are expected to listen to financial advice from these idiots who queued up overnight to buy overpriced properties, using their parents house as collateral, as if they are some sort of geniuses on how to fix the economy when they couldn't even figure out at the time that Cavan is further than 30 mins from Dublin :rolleyes:

    When you were suckling at your mothers teat did you also consider how lucrative gold would be as a commodity.


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