Indy: Economic circumstance is forcing grown adults to live like juveniles

ukcarper

ruggedtoast wrote: »

Or perhaps an insidious housing policy designed to price people out of home ownership while shafting them for insecure rentals could be reversed.

Thats the problem with these spurious comparisons to the 1900s and doom laden catastrophisation about displacement; its nonsense.

All that needs to happen is for some more houses to built so some squirrels have to move to a new bit of forest, for the btl casino to be better regulated, and for baby boomers to accept a modest fall in housing prices.

I think even the squirrels would understand the necessity for this before the other two groups have got it.

I agree prices are high but they have been higher in the past.

I love the comment boomers accept a modest fall in house prices. Contrary to what you think I think most boomers would not be unhappy if property prices fell slightly but accepting that ins't going to make it happen.

The people who would be effected worse by significant falls would in the main be younger people who were FTBs in the mid 2000s and I don’t personally believe they were irresponsible rather people trying to get on with their lives and I don’t see why they should be the ones to suffer.

Percy1983

ruggedtoast wrote: »

Or perhaps an insidious housing policy designed to price people out of home ownership while shafting them for insecure rentals could be reversed.

Thats the problem with these spurious comparisons to the 1900s and doom laden catastrophisation about displacement; its nonsense.

All that needs to happen is for some more houses to built so some squirrels have to move to a new bit of forest, for the btl casino to be better regulated, and for baby boomers to accept a modest fall in housing prices.

I think even the squirrels would understand the necessity for this before the other two groups have got it.

The squirrals can live side by side with us, I have a couple living in my garden, they just seem to like to run accross the end of the drive as we leave but apart from that they are great.

Percy1983

ukcarper wrote: »

I agree prices are high but they have been higher in the past.

I love the comment boomers accept a modest fall in house prices. Contrary to what you think I think most boomers would not be unhappy if property prices fell slightly but accepting that ins't going to make it happen.

The people who would be effected worse by significant falls would in the main be younger people who were FTBs in the mid 2000s and I don’t personally believe they were irresponsible rather people trying to get on with their lives and I don’t see why they should be the ones to suffer.

How do they suffer if prices drop?

wotsthat

ruggedtoast wrote: »

I think even the squirrels would understand the necessity for this before the other two groups have got it.

The older, wiser squirrels will have saved some of their acorns for a rainy day and might even have invested some of them in growing new oaks which they can rent to the young squirrels.

The young squirrels spent all their acorns on watching mission impossible and too much time hanging upside down and didn't think to save.

On a branch near me the young squirrels are entitled - they are livid!

ukcarper

Percy1983 wrote: »

How do they suffer if prices drop?

Not every body is like you and bought a 3 bed semi first time and if you end up in negative equity (remember prices are already down from peak) you will not be able to move or take and even if you still have a small amount of equity you will not be able to take advantage of lower interest rates.

ILW

ukcarper wrote: »

Not every body is like you and bought a 3 bed semi first time and if you end up in negative equity (remember prices are already down from peak) you will not be able to move or take and even if you still have a small amount of equity you will not be able to take advantage of lower interest rates.

If you are paying down capital you will not be permanently in NE. Anybody who bought 5 years ago should be overpaying a fortune due to the current IRs.

ukcarper

ILW wrote: »

If you are paying down capital you will not be permanently in NE. Anybody who bought 5 years ago should be overpaying a fortune due to the current IRs.

I suppose that depends on how much prices fall. Also not all people will have had access to the low rates and what people can or do do is not always what they should do.

robmatic

Percy1983 wrote: »

Its quie simple, can you afford the same house as your parents if you do the same (or very similar) jobs than they did at your age?

Given that owner-occupier rates are much higher now than they were several decades ago, things must have gotten easier...

somethingcorporate

ILW wrote: »

If you are paying down capital you will not be permanently in NE. Anybody who bought 5 years ago should be overpaying a fortune due to the current IRs.

Unless they were risk averse and took long term fixes.

Picking up on a previous point but I don't think you understand the word "professional" if you think it is only applied to people that hire themselves out to others. Huge corporates (like the one that I work) in is rammed full of people earning 6 figure salaries that have never been hired out. My wife's old law firm was similar, a huge company controlled by a tiny few, all professionals all on super salaries. Your definition is foolish where it would put a painter and decorator earning £100 a day as a "professional" and myself working in corporate finance with a degree earning £50k plus as a non-professional.

robmatic

somethingcorporate wrote: »

Unless they were risk averse and took long term fixes.

Picking up on a previous point but I don't think you understand the word "professional" if you think it is only applied to people that hire themselves out to others. Huge corporates (like the one that I work) in is rammed full of people earning 6 figure salaries that have never been hired out. My wife's old law firm was similar, a huge company controlled by a tiny few, all professionals all on super salaries. Your definition is foolish where it would put a painter and decorator earning £100 a day as a "professional" and myself working in corporate finance with a degree earning £50k plus as a non-professional.

I think the meaning has changed over the years, and people seem to consider themselves a 'professional' if they have a job. In the same way that absolutely everybody is now middle class, apparently.