Back in the early noughties – the housing boom in Britain was in full swing.
Mortgage interest rates were low and easy to get.
I remember a friend purchasing his first house with 125% mortage! That’s a pile of free money when you buy your property. crazy.
Some were smart,
It was a time of abundance (fuelled on consumer credit and low rates. People were buying and selling homes everywhere, and making 100’s of thousands of pounds in a mater of months all with the right property in the right locations.
Us Brit’s are obsessed with owning homes.
The game was set.
There were endless tv shows showing amateurs buying homes at auction, flipping them and making serious bankage.
A global economic meltdown.
Millions of repossessions and some very unhappy folk.
Today’s booms look different, but new technology driven ones appear. Followed by an endless parade of hopefuls with same appetite to secure prime real-estate online.
There’s the big players and then there the small speculators.
A blog here a channel there.
In the beginning, the internet was the frontier – the west of its day. Free – Come an claim your land. Build your future.
Today, you pay in many ways for the best position with cash, or your most valued possession, time.
Each decision is much like purchasing a property (regardless if you build it or buy it).
You asses it’s location, position, desirability, home services, roofs, risks of floods, neighbours, acts of god?
The list goes on.
Whatever you decide, 1 thing is still true. Booms come and go. Attention rises and falls. Building your own platform is way better than paying a premium to be in a Facebook highrise.
So now it’s just a case of tracking down that hidden gem.