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The next boom.....
Comments
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chucknorris wrote: »What on earth are you going on about now. Do I really need to explain this for you? Ok then, ukcarper said above that you only made snide remarks, you then made a snide remark, which proved him right. Got it now?
I actually feel sorry for you chucknorris.
You were born into a golden generation, have worked hard all your life as a professional surveyor (or whatever) and are at an age when you should be retiring comfortably. But instead of putting your feet up and enjoying life, your greed has put you in a position where you have to go back to work to pay your IO mortgages and you will probably keep working till you drop.
The archetypal "richest man in the cemetry".
Sad really.0 -
... er...
As I was saying, Hamish. Nice graph. I was just wondering if you can be a bit more specific about the late 2020's/mid 2030's fall in values....
Helps my forward planning y'know....0 -
I actually feel sorry for you chucknorris.
You were born into a golden generation, have worked hard all your life as a professional surveyor (or whatever) and are at an age when you should be retiring comfortably. But instead of putting your feet up and enjoying life, your greed has put you in a position where you have to go back to work to pay your IO mortgages and you will probably keep working till you drop.
The archetypal "richest man in the cemetry".
Sad really.
I could pay off all but one of mortgages now! But why should I as my average mortgage rate is only just over 1% and I am getting better returns even on my savings (never mind my investments). But I will pay them off when rates go back up, unless that coincides with the market really heating up at which point I will either sell up completely or at least in part.
I was retired for about 8 years and came out of retirement to do something that I always fancied doing, but never got around to it, being a university lecturer. I enjoy it, so I continue to do it but only on part time basis. Working part time allows me to enjoy my leisure activities of playing bowls (indoor and outdoor), chess, cycling, running and especially going out for walks with my wife and dog (my dog also comes with me on runs and cycles, twice today actually).
Nice try but an epic fail.Chuck Norris can kill two stones with one birdThe only time Chuck Norris was wrong was when he thought he had made a mistakeChuck Norris puts the "laughter" in "manslaughter".I've started running again, after several injuries had forced me to stop0 -
I see no problem with extrapolating the Nationwide graph and offering some reasons why this is valid - not many arguments against it so far.
None, in fact.
Just several pages of bears trying desperately to trash the thread.
Which really tells you all you need to know.:)“The great enemy of the truth is very often not the lie – deliberate, contrived, and dishonest – but the myth, persistent, persuasive, and unrealistic.
Belief in myths allows the comfort of opinion without the discomfort of thought.”
-- President John F. Kennedy”0 -
HAMISH_MCTAVISH wrote: »None, in fact.
Just several pages of bears trying desperately to trash [STRIKE]the thread[/STRIKE]. each other.
Which really tells you all you need to know.:)
Just a small correction for you, Hamish....
I have no data to argue with your projection, but my main concern would be that HPI will be driven by future prosperity, and in particular real wage growth. This in turn depends upon quite an ambitious (in my view) turnaround in 'UK Ltd.'
Then, of course, demographics and planning consent will play a significant part. Imagine the difference (up to 2030, say) of a consistent net migration increase of 300K plus annually, coupled with smarter and more effective nimbyism - compared with the reverse of minus 300K coupled with a future government really unlocking thousands of acres of brownfield and a few greenfield for housebuilding...
House prices will 'lag' all of the above.
Being a cynical and miserable old b*****d, I believe that Asia and S America will economically wipe the floor with ailing 'Nanny State' economies which allow 50%+ of the economy be driven by 650 self-seeking politicians, advised by an even more self-seeking bunch of mandarins - none of whom gives a monkey's cuss about the economy beyond their own front doors [save for a cursory nod every 5 years at election time]....
It would be absolutely no surprise to me whatsoever to see - say 2020 on - the largest 'brain drain' in history as literally millions leave UK for good, seeking wealth (and weather) in foreign climes where they can earn a packet without someone taking 50% out because they know better how to spend it.
Might affect house prices somewhat?0 -
Thrugelmir wrote: »I was considering buying some shares in Easyjet. Today Ryanair gave a profits warning as forward bookings aren't strong. Which impacted low cost carriers in general. Suggests that the European economy, of which the UK is a part, still has a bumpy road ahead.
No it doesn't. It suggests that Ryanair's profits might be lower than their investors were expecting because their forward bookings are weaker than Ryanair was previously projecting. It does not necessarily follow that this is due to worsening economic conditions - it could just as easily be cause Ryanair's previous forecasts for bookings growth was too aggressive.
Trying to project economic conditions from the fortunes of a single company is pointless. You might as well give a monkey a bag if scrabble letters and ask it to randomly spell out "compound interest".0 -
chewmylegoff wrote: »You might as well give a monkey a bag if scrabble letters and ask it to randomly spell out "compound interest".
Fairly sure there's at least one monkey in this thread that could do so. Unlike some posters we know.
“The great enemy of the truth is very often not the lie – deliberate, contrived, and dishonest – but the myth, persistent, persuasive, and unrealistic.
Belief in myths allows the comfort of opinion without the discomfort of thought.”
-- President John F. Kennedy”0 -
Loughton_Monkey wrote: »Being a cynical and miserable old b*****d,
There is a cure for that.....
I suggest a large Gin and Tonic, and if that doesn't work, repeat as necessary.“The great enemy of the truth is very often not the lie – deliberate, contrived, and dishonest – but the myth, persistent, persuasive, and unrealistic.
Belief in myths allows the comfort of opinion without the discomfort of thought.”
-- President John F. Kennedy”0 -
Can't help but think that life would be a whole lot better for the vast majority of people if you could still buy a decent house for £60k or so.
Just think what could be done with all that spare cash in the economy.
What do you think what happen to the price of other assets and consumables if the price of houses was somehow fixed at £60k but average wages remained at today's levels.
You'd have a lovely affordable house but the price of everything else would be higher as all of the additional demand (caused by the extra cash in pockets from lower rent and mortgage payments) would just result in the inflation of other products of which there is a limited supply. Nice £100k vw golf sitting on your drive, what are the finance payments on that?0 -
HAMISH_MCTAVISH wrote: »There is a cure for that.....
I suggest a large Gin and Tonic, and if that doesn't work, repeat as necessary.
It hasn't worked for the last 20 years. So I have little faith it ever will.
However, please don't lay awake worrying about me. Actually I am extremely happy and contented in my 'misery'. I was never a 'glass half full' person. Much more a 'glass half empty' merchant, although quite a while ago, I turned into a 'glass too small' person. G&T's should be served in a 15 oz glass. Full of ice cubes. Half gin. Half tonic.
I expect your single malts are served up pretty much the same. Without the tonic. [20-year-old matured Glen Hoddle is it?].0
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