Re: Re: cajas again

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Chris McCarthy

@peterhun wrote:

“I think with all my heart that there are some fantastic buys on the Costa right now, “

The definition of a bargain is all dependant on the availability of credit.

A large amount of securitised lending has to be slowly paid down before there will be any sort of recovery and boom; which means at least five, maybe ten years of stagnation.

Doesn’t matter if it seems like a ‘bargain’, without credit or a profit from a exiting property its unaffordable.

Yep, except that I am patently not talking about people who can’t afford to buy. I am talking about people who can afford to buy, I am not really interested in anyone who can’t afford to buy, because well they won’t be able to buy will they? So what’s the point?

And actually anybody who can afford to buy, always has the availability – if they require it – of credit, and actually that credit is as low as anyone living can remember it.

I am also not talking about or looking for recovery or boom, nor am I talking about making a profit, you seem to think there is only one kind of buyer – you.

But you see there are people who are not you, and who can afford and do want to buy.

There isn’t just one type of buyer, there are many others, people who have the funds or the availability of funds, sounds like Brian might be one, who then have a decision to simply make of just when. And they are not buying necessarily for profit, isn’t that what got all property markets bent out of shape for the last 20 years? They were supposed to be homes, not pensions or investment vehicles.

And I was also not talking “Bargain”, was talking Fantastic Buys, these are a bit different than Bargains, Bargains usually come out of buckets, Fantastic Buys are just great things to buy and use, and enjoy and be worth the money spent on them for the pleasure they bring – not something to be tied up in waiting for “securitised lending to be slowly paid down over ten years of stagnation” you see, that’s what kills me, that kind of talk, I just die a little inside every time I hear it.

And back on the thread, I just don’t know if I can also read any more deep vein analysis, about Caja’s but I do of course want Adiep and Brianc-li to keep posting them, because they are hugely important and relevant to a lot of folk, it is just for me, at this stage I am moving beyond them now.

I think you will find Peterhun, that the people who are buying today, will do well over the mid to long term, they will also enjoy today and tomorrow and be better off than waiting till 5-10 years from now, but I believe they should only do so, because they can afford to do so.

These are the fortunate 10 out of what used to be yesteryear’s every 100 buyers.

And in 10 years when you sell up in Poland and head down to the Costa for a spot of sunshine we will welcome you too! Because you can afford it, or the credit and we will have a Fantastic Buy waiting for you. And no more stagnation.