£1.2tn given to old from young

Cleaver

treliac wrote: »

Perhaps you could start a poll?

Actually, it looks an interesting thread having just had a scan. I just can't cope with 19 pages.

treliac

Cleaver wrote: »

Actually, it looks an interesting thread having just had a scan. I just can't cope with 19 pages.

It's an angry thread........ I kept out of most of it. Wanted to do a bit more winding up, but far too scared.

[Deleted User]

dopester wrote: »

Honestly... go tell many people to 'work hard' on the redundancy/unemployment forums or similar. Too many people haven't accepted the deflationary new conditions playing out. The critical change from your boom loads-of-good-paying-jobs, HPI love affair years.

When I bought my first house I seem to remember that 1 in 10 people were unemployed. I had a job but it wasn't well paid - I managed to buy a little hovel that I did eventually make enough profit out of to pay a deposit on a nice house. I now have a lovely home - bought and paid for.

My boyfriend at that time was unemployed - as was his mother and father. He had completed an aprentiship as a fitter just a year or two before all the ship yards closed down. His dad was in his mid 40's and was the most hard-working guy I've met, but he was a manual worker and there was nothing for him at that time.

I don't know what that family are doing now, but 20 years or so I know that his mum and dad got to buy their council house. They paid peanuts for it (they only had peanuts) but I know that it's now worth about £150k.

There's nothing new about hard times, high unemployment and poorly paid jobs. Yet you never know what opportunities are waiting around the corner - HPI has helped lots of families out of poverty.

treliac

Alpha2 wrote: »

I got your rear treliac.

I don't understand......... is that some strange dialect?

ukcarper

Cleaver wrote: »

Just to save me reading the 19 pages here could someone let me know if we've come to any of these conclusions:

a) the old have given the young 1.2tn
b) the young have given the old 1.2tn
c) a sum of money has possibly been passed from one generation to the other
d) nothing decided, we've just been arguing whether houses were more affordable now or then
e) none of the above

I would imagine that the bulk of that 1.2tn is just sitting in property and not doing the vast majority of people any good young and olds alike.

carolt

Deleted_User wrote: »

HPI has helped lots of families out of poverty.

And into it.

ukcarper

carolt wrote: »

And into it.

Probably neither but if anyones right you probable are

[Deleted User]

ukcarper wrote: »

I would imagine that the bulk of that 1.2tn is just sitting in property and not doing the vast majority of people any good young and olds alike.

I'm trying to get my head around that idea but i'm struggling.

Say I own a piece of jewellery or a car and I sell it. I then have cash in hand which I can spend on other things.

Because we need a roof over our heads for life then:

a) money doesn't change hands that frequently in relation to property sales
b) when property is sold the money typically goes straight into more property.
c) as property is expensive a lot of the nation's wealth is tied up in property.

right....?

But I paid 200k cash for my last house. Where is that money?

Sorry for missing the obvious but it's bugging me so can someone explain Is spending money on houses any different from spending money on other items? Someone must make money out of it (builders etc) and therefore THEY will have more money to spend on other items.

fc123

dopester wrote: »

It was shocking. His girlfriend seemed rightly aggrieved he took on so much risk without properly consulting her about the project. She was the sort who liked to be waited on... not wait on other people.. and I can't blame her, if she has gradually built up some success over the years. An option for a secure life with money to fall back on, only for someone to make a decision for you to put your security at risk. The relationship seemed to take a lot of damage as the documentary played out.

Ahh ok, slowish rail link to Margate-London. Thanks for that info. There were arty types in that Margate boutique hotel they did up - again borrowing on credit-cards to finish it. The younger couple seemed to crave the approval of the arty Margate crowd. I don't know where that arty crowd makes all it's money - if they really have real wealth to rely upon. Certainly those new B&Bers used a lot of their money in the project. 15 years as a DJ in Italy. Love their freedoms... to choose to be tied down to debt and the chore of running a B&B.

Sadly I think if the arty Brighton types are moving to Margate, there will be no repeat of Brighton style HPI and business success. Even if they buy cheaper... it has little chance of catching on with the mainstream. It still requires the money flowing from the wider economy/banks ect - imo.

I don't think they've gone to Margate either.

Margate will evolve and develop into another place but could take 15 years.
IF we went there and set something up...just hypothetically, then one generally does whatever one wants (not copy or go with the flow) and the rest follows in time. We need links to London and Margate ticks that box.

One of the FC123 Lifeplan changes that I researched to the nth was relocating to Newquay in around 1997. It didn't work for various reasons (couldn't disentangle ourselves from a lease and we specialised in vintage so getting up to the textile waste yards in Yorkshire was too inconvenient) but no regrets. I recall that swapping London house for something in Newquay for same £ could have gotten us something massive and mega...not so much gap now due to lifting of the area as a surf hotspot.

When I speak to long time Brightonians, it was just as run down as Margate or Newqauy 15 - 20 years back.

Something else OH and I were chatting about recently (over something unrelated) was the prime spots that all those hideous arcades have. They are declining due to computer games at home and online gambling.

the ownership of those types of places is ....errr...tricky though;)

Graham_Devon

Deleted_User wrote: »

But I paid 200k cash for my last house. Where is that money?

It doesn't really matter where it is, though it's probably held in another property by those you bought off.

What matters is....can you get to that 200k?

If you can, where will you live?