Generation Rent.... The future of those who missed the boat..

HammerSmashedFace

ukcarper wrote: »

You forgot mortgage tax relief and married mans allowance

No mortgage tax relief in 1960, and even if there was it doesnt stack up anywhere near the fact that a girl of 20 can now bring up 3 or 4 kids on their own without as much as a sniff of part time work, thanks to our taxes.

Debt has sunk us over the last decade, to the point where there is no way out except to throw more debt at the situation until we sink out of sight, which is exactly what people have perceived as 'the good times returning' over the last year. All it has been is one last roll of the credit card dice.

The next 12-18 months will be very interesting, as I've been saying for a while now,

doire_2

HAMISH_MCTAVISH wrote: »

Ironic really, that the very people who wished for a crash, will now have to live with the consequence of that crash being many of them locked out of the market permanently.

Just you keep telling yourself that :rotfl::rotfl::rotfl:

doire_2

smamst wrote: »

and now Hamish's gimp is throwing in some insults.

I got a feeling the bulls aren't happy at the moment.

:eek::rotfl::rotfl:

chucky

HammerSmashedFace wrote: »

That's the cut of it right there in you're statement chucky, I'm not suggesting people avoid mortgages, but it says a lot about today's market that 'normal' borrowing of 3.5x 1 income + 1 income or 2.5x joint is perceived as been so far wide of the mark that people have to save for 20 years first.

House prices are too high, in reality they benefit very few people. An example would be my father, a humble self-employed truck driver from 1960 to 1990, in that time he bought a semi-detached house in the country, his wife stayed at home and looked after 4 children, with not a single benefit (apart from family allowance) or tax credit in sight.

This would be utterly impossible in these times, that to me is not progress, of any kind.

all very true i imagine but times have changed and we have progressed in many other areas.

house prices are not everything in life

izzybusy23

HAMISH_MCTAVISH wrote: »

http://www.independent.co.uk/life-style/house-and-home/property/more-householders-will-have-to-rent-says-mortgage-body-1914631.html

As expected really.

Housebuilding at lowest level since 1948. On top of a decades worth of underbuilding by 100K houses a year or more.

New household formation accelerating.

Shortage worsening.

Mortgage lending to stay tight, and those with existing equity having a huge advantage over those without.

Ironic really, that the very people who wished for a crash, will now have to live with the consequence of that crash being many of them locked out of the market permanently.

God your an !!!!!!. I don't think I've ever hated a faceless moron on an internet forum more.

abaxas

izzybusy23 wrote: »

God your an !!!!!!. I don't think I've ever hated a faceless moron on an internet forum more.

This is what I dont get about the bulls.

People want things to improve, get better, cheaper, etc etc.

For some reason the housing bulls are happy for this not to happen, the worse of the negative views.

IveSeenTheLight

boomerangs wrote: »

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HAMISH_MCTAVISH

izzybusy23 wrote: »

God your an !!!!!!.

Yes, I am.

I'm also right.

And I can spell.

Which puts me ahead of you on all three counts.:rotfl:

I don't think I've ever hated a faceless moron on an internet forum more.

Excellent news. :T

"The bears" entire strategy consisted of waiting for economic catastrophe to hit, and then hoovering up a bargain at the expense of someone hit by unemployment, etc.

There is a delicious irony that such a plan, which relied on trading on others misery, has backfired so spectacularly.

Graham_Devon

HAMISH_MCTAVISH wrote: »

There is a delicious irony that such a plan, which relied on trading on others misery, has backfired so spectacularly.

So the plan you enjoy so much......trading on other peoples misery, is ok, because?

Anyway, there is a question I would like you to answer on the -1.5% Halifax thread.

It's about how the snow, which you have talked about so much actually alters the complettion price of a house. I would find your thoughts interesting.

HAMISH_MCTAVISH

abaxas wrote: »

This is what I dont get about the bulls.

People want things to improve, get better, cheaper, etc etc.

For some reason the housing bulls are happy for this not to happen, the worse of the negative views.

This is what I don't get about the bears.

People want things to improve, unemployment to reduce, the economy to recover, interest rates to stay low, investments to do well, etc.

For some reason, the housing bears want the opposite to happen. They cheer on misery, recession, unemployment, asset price crashes, etc.

The worst of the negative views.