So what have we learnt from the recession?

mewbie_2

Cleaver wrote: »

They might not be able to. But a kid-free pair earning more might buy one and spend a lot more n the economy too. Way it goes really, innit?

Not trying to make a point, just pointing out the basics.

Word up Cleaver. Parents with kids spend more money than you can possibly imagine. It's like every penny plus more, endlessly, and you are happy with a treat for yourself like a small bottle of beer once a fortnight.

ess0two

mewbie wrote: »

There was me thinking "he's got a fuel leak in that moped".

Stay safe.

Ha Ha,i've used a few of my 9 lives over the years.

penguine

I have to agree with you Graham, that probably we've learned nothing from the recession. Which is why I have trouble believing that it's really "over". Technically the recession might be over, or we might come out of recession for a bit, but how is it possible that we've had the biggest economic crisis since the 2nd world war (as some economists were saying on Radio 4 this evening) and nothing has really changed?

I think this has been the phony war. The real bit is still to come, when we start having coping with the after-effects of massive government borrowing and interest rates start going up again.

fc123

Just to add...all the aunties and uncles now live in places along the coast (most have retired) valued at about 200k - 250k ish.
Not one had 2 earners; It was man worked in something semi skilled (say 25k - 28k todays wages) and lady did a bit of part time cleaning or similar to fit around school hours, say 3k pa.

Cleaver

mewbie wrote: »

Word up Cleaver. Parents with kids spend more money than you can possibly imagine. It's like every penny plus more, endlessly, and you are happy with a treat for yourself like a small bottle of beer once a fortnight.

Do you have kids by any chance Mewbs? I'm getting a vibe.

mewbie_2

Cleaver wrote: »

Do you have kids by any chance Mewbs? I'm getting a vibe.

Well mate - none that I know of, but I've been around a bit.

Oh forget it, what's the point in pretending I'm like Fungus.

Put it this way. Wihout giving away too many personal details - I have changed nappies, bought breast pads, plumbed the various depths of humilation that a new dad goes through once those dreams of being Keith Richards have faded for good.

But.

I wouldn't have it any other way.

fc123

penguine wrote: »

I think this has been the phony war. The real bit is still to come, when we start having coping with the after-effects of massive government borrowing and interest rates start going up again.

Good point this....also a lot have been a bit scared by it, even if they have a reasonably safe income etc and it changes behaviour.
Deff less consumption (in various ways) going on amongst some I know.

wageslave

fc123 wrote: »

What could be happening is there is now going to be a permanent change (well, for a few decades at least) and home ownership won't be for the majority after all

This is going to cause problems.
The next government are going to have great difficulty getting the public to give up the holy grail of home ownership.
And where are these people going to be housed?
If people are to spend their lives in rented accommodation, they will demand affordable rents and security of tenure. If I were a landlord I'd be seriously expecting new legislation in the private sector strengthening tenants rights

fc123

wageslave wrote: »

This is going to cause problems.
The next government are going to have great difficulty getting the public to give up the holy grail of home ownership.
And where are these people going to be housed?
If people are to spend their lives in rented accommodation, they will demand affordable rents and security of tenure. If I were a landlord I'd be seriously expecting new legislation in the private sector strengthening tenants rights

That phrase 'Always expect the unexpected' comes to mind.

There are no nice council houses anymore (well...not enough) and new laws to control private rentals could be sneaked in, one by one, and the dynamic changes over time.

HAMISH_MCTAVISH

Actually the thing that most people should have learned from this recession/crash is that you can't beat the system.

Prices were high. Mortgage deals were great.

Prices came down. Mortgage deals got WAY more expensive.

Total cost buying at or before peak, is therefore very similar to buying now.

The difference is that most FTB's now cannot afford the deposit.... This crash will have ended up costing many more people their dream of ownership than it will have helped.....