Mainstream media article says it's not lending, its prices.

Percy1983

julieq wrote: »

1) Average prices are not derived from average wages. They are derived from the wages of those participating in the market, which is by definition skewed upwards - and includes dual incomes whether or not you like it - until you reach a point where supply balances demand. As prices rise, some people are excluded at the bottom end, but as demand for housing is increasing there is no mechanism for pushing prices down. Unfortunately it just pushes rents up and makes BTL a one way bet. The only thing constraining demand at present is mortgage rationing, and the great irony is that many safe bets for lending are now paying rent when they could be 10% of the way into paying off a mortgage and paying less to do so.

2) You are not entitled to the same outcomes as previous generations as of birthright. And in a globalised world where you're in competition for resources with 6 billion other people demanding a better standard of living and prepared to fight for it the standard of living in the West is going to fall. Sorry, but it's a fact. A new car every two years and 4 bedroom detached house is a nice outcome, but you're going to have to work increasingly hard for it and it was only really possible in the past because of a structural imbalance where resources were essentially stripped from one part of the world for the benefit of another. That has now reversed. And yes, it's "progress" that people working hard somewhere else in the world get a bigger slice of the cake than previously, and that the rather flabby West has to work much much harder. Unfortunate for those who aren't prepared to do so, but it's a tough old world these days.

3) The Guardian has no special status. In many respects it's just the flipside of the Daily Mail and is just as likely as any other paper to include witless and uninformed journalism pandering to the prejudices of its readers.

Will give this one a go.

1, Average prices are not derived from average wages. They are derived from the credit available to people participating in the market, which is by definition was skewed upwards by lax lending - and includes dual incomes whether or not you like it - until you reach a point where supply balances demand. As prices rise, some people are excluded at the bottom end, but as demand for housing is increasing there is no mechanism for pushing prices down apart form cutting lax lending. Unfortunately greedy BTL parasites like to bleed dry those who can't afford a house for there own selfish needs. The only thing constraining demand at present is the return to sense in the mortgage market, and the great irony is that many safe bets for lending are now trapped as the greedy cash in on there situations.

2) You are not entitled to the same outcomes as previous generations as of birthright, us boomers have took the wealth and are now closing the door on you. And in a globalised world where you're in competition for resources with 6 billion other people demanding a better standard of living and prepared to fight for it the standard of living in the West is going to fall. Sorry, but it's a fact. A new car every two years and 4 bedroom detached house is a nice outcome of course, but you're going to have to work increasingly hard just to get a roof over your head, for it and it was only really possible in the past because of a structural imbalance where resources were essentially stripped from one part of the world for the benefit of another, its now different now those who stole fromt he rest of the world for there own needs until it ran out now want to continue to steal formt eh younder generations. And yes, it's "progress" that people working hard somewhere else in the world get a bigger slice of the cake than previously and those born ealier deserve more than you, and that the rather flabby West has to work much much harder. Unfortunate for those who aren't prepared to do so can still have a nice life by bleeding the young dry, and if you are the said young, tough luck.

3) The Guardian has no special status. In many respects it's just the flipside of the Daily Mail and is just as likely as any other paper to include witless and uninformed journalism pandering to the prejudices of its readers, but of course if the bulls agree with any such paper it is then fact...

Maybe a bit to full on with some of the points, but trying to point out that it isn't just world markets at play here.

FTBFun

Percy1983 wrote: »

Nope I have eaten it instead before it eats away at me and I kill everbody older than myself.

Anyway as you may guess I have stong opinions on matters but I am still playing the game and am winning, I will soon be in my first home (3 bed semi, minimum) with a beautiful wife and hopefully children on the way... all is good here no chips as they aren't good for you.

Err, it doesn't appear you have...

ukcarper

Percy1983 wrote: »

Will give this one a go.



2) You are not entitled to the same outcomes as previous generations as of birthright, us boomers have took the wealth and are now closing the door on you. .

Can you please explain how us boomers have taken the wealth and are now closing the door.

Percy1983

ukcarper wrote: »

Can you please explain how us boomers have taken the wealth and are now closing the door.

Buying up housing stock and expecting the young to pay the mortgage for you.

ukcarper

Percy1983 wrote: »

Buying up housing stock and expecting the young to pay the mortgage for you.

So buying a house 25 years ago living there probably not even intending to move not good enough I'm afraid.

Percy1983

FTBFun wrote: »

Err, it doesn't appear you have...

Trust me, when I am going to surpass many of those who have a clear advantage through hard work (and maybe a little luck), the feeling is good and there is no chip.

Percy1983

ukcarper wrote: »

So buying a house 25 years ago living there probably not even intending to move not good enough I'm afraid.

Agreed, no problem there, but we all only need one house to live don't we?

FTBFun

Percy1983 wrote: »

Trust me, when I am going to surpass many of those who have a clear advantage through hard work (and maybe a little luck), the feeling is good and there is no chip.

You seem to be insinuating that the older generation gained an advantage purely through their age rather than hard work. I can tell you from my family's history that just isn't the case.

ukcarper

Percy1983 wrote: »

Agreed, no problem there, but we all only need one house to live don't we?

How many houses do you think the average boomer has got. Do you really believe that all BTL are owned by boomers

I think that chip is still there.

System

ukcarper wrote: »

I think that chip is still there.

I know someone just like Percy.

Wife's sisters boyfriend, every failure he's made is someone elses fault or because he didn't get the same opportunities as everyone else. Went as far as claiming that I earn more than him because my parents were better off than his. ANYTHING to detract away from his own shortcomings.