Over half a decade on post slump where does this leave the HPC fans now

Loughton_Monkey

ruggedtoast wrote: »

Things are looking increasingly bleak for anyone who wants to see an end to the housing apartheid in the next decade......

Here we go.

The ramblings of someone who just cannot get a grip of real life, and thinks the dice is loaded against a whole generation.

Do you have any special insight into what is going to happen to the economy and housing in the next decade?

If so, please share it with us.

My generation started working life in the most dire circumstances.

Your generation started working life in excellent circumstances.

For both of us, it has all gone a bit wobbly.

The <24 years olds have therefore started working life in relatively dire circumstances. Almost certainly better than mine. Arguably worse that yours.

And here you are talking about the next 10 years. If (as could happen) wages start taking off in the most fantastic fashion. Unprecedented annual 'real' increases. Then us boomers will be "left out". We cannot participate because all we have is what we saved.

Why can't you just accept what most sensible people do, and 'accept' the economic life as it is.... do the best you can while it's in the downturn.... wait for it to come good again.... keep increasing your wealth every year by investing for the future.... and enjoy the good times when they come?

As I have said before. Economic life comes in cycles. Over 40-odd years of economic life you are going to hit good, bad and indifferent. Live with it. Hunker down when it's bad. Live a bit and put more away when it's good.

But most of all, stop whinging about how 'the economy' and 'previous generations' have 'conspired' to throw you in the gutter. If you are in the gutter, then you only have yourself to blame.

If you like, I'll bung a few shillings into a trust fund for your gravestone, to help pay for the etching....

"Here lies Rugged. Died in poverty. When recession came, he whinged. When things got better, he whinged. Whenever others got on with it, he whinged. When the sun shone, he missed the boat because he whinged. May he enjoy everlasting whinging in the sky, for St. Peter surely hath more tolerance than us on earth......"

HAMISH_MCTAVISH

moneyinmypocket wrote: »

where does this leave the HPC fans now

Exactly where they deserve to be. Enriching their landlords.

We did try to warn them....;)

SingleSue

Plan A is still in operation here but it won't be for very long as there are signs that things will start moving upwards very soon...for a start, lots of sold signs are finally going up!

We're always behind the curve here, we didn't crash at the same time as others, we were still going up when other areas were coming down at a rate of knots.

CKhalvashi

SingleSue wrote: »

Plan A is still in operation here but it won't be for very long as there are signs that things will start moving upwards very soon...for a start, lots of sold signs are finally going up!

We're always behind the curve here, we didn't crash at the same time as others, we were still going up when other areas were coming down at a rate of knots.

We haven't really crashed in my neck of the woods at all; I bought just pre-drop, and my house has never dropped below about 95% of what we paid.

Jason74

Loughton_Monkey wrote: »

Here we go.

The ramblings of someone who just cannot get a grip of real life, and thinks the dice is loaded against a whole generation.

Unfortunately, his post is actually bang on the money (and I wish it wasn't). You just choose not to see it, presumably because it suits you not to.

I'm fortunate enough to be on the "right side" of the housing apartheid described. But my good fortune (which is exactly what it is both for me and you) doesn't blind me to either its existence, or it's negative social consequences.

ruggedtoast

Loughton_Monkey wrote: »

Here we go.

The ramblings of someone who just cannot get a grip of real life, and thinks the dice is loaded against a whole generation.

Do you have any special insight into what is going to happen to the economy and housing in the next decade?

If so, please share it with us.

My generation started working life in the most dire circumstances.

Your generation started working life in excellent circumstances.

For both of us, it has all gone a bit wobbly.

The <24 years olds have therefore started working life in relatively dire circumstances. Almost certainly better than mine. Arguably worse that yours.

And here you are talking about the next 10 years. If (as could happen) wages start taking off in the most fantastic fashion. Unprecedented annual 'real' increases. Then us boomers will be "left out". We cannot participate because all we have is what we saved.

Why can't you just accept what most sensible people do, and 'accept' the economic life as it is.... do the best you can while it's in the downturn.... wait for it to come good again.... keep increasing your wealth every year by investing for the future.... and enjoy the good times when they come?

As I have said before. Economic life comes in cycles. Over 40-odd years of economic life you are going to hit good, bad and indifferent. Live with it. Hunker down when it's bad. Live a bit and put more away when it's good.

But most of all, stop whinging about how 'the economy' and 'previous generations' have 'conspired' to throw you in the gutter. If you are in the gutter, then you only have yourself to blame.

If you like, I'll bung a few shillings into a trust fund for your gravestone, to help pay for the etching....

"Here lies Rugged. Died in poverty. When recession came, he whinged. When things got better, he whinged. Whenever others got on with it, he whinged. When the sun shone, he missed the boat because he whinged. May he enjoy everlasting whinging in the sky, for St. Peter surely hath more tolerance than us on earth......"

I'm flattered regarding the detail and, increasing length, with which you construct your ad hominem reposts to my posts.

I still fundamentally disagree with you, I'm sorry that makes you so cross.

Also, a wise man once said - 'Brevity is the soul of wit'!

PaulF81

I was one of the few from HPC that saw the writing on the wall once QE was announced. Without QE, I dare say the premonitions discussed would have came to pass. Joined in 06, stopped posting over there when it got all socialist in 2010 (and bought our country pad for 30% off regular market value).

Whilst I expected a crash, I didnt fully anticipate the scale of the problems that were there. I had talked about shorting RBS shares on here, just before they, lloyds and Barclays nearly went under. I didnt as the cash I was holding was a house deposit, forecast to yield about 80% over 10 years when compared to its equivalent value by reducing our expected mortgage.

If we had gone all in, or split 50% shorting RBS and 50% commodities ( i fancied platinum as a resource rather than gold due to its usage in fuel cells and other industry catalysts) as I wanted to but didnt have the balls to do, I wouldn't be currently working and I wouldnt have a mortgage.

The financial issue is now rapidly becoming a social one, that I believe will be solved the moment the boomer generation lose the reigns of power on the house of commons. Austerity I believe will be redistributed to those that caused the crisis, in terms of rationed NHS, means tested state pension and other OAP benefits. Why will those living in rented continue to support the longevity of those who didnt pay enough into the system and expect the younger generation to pick up the tab?

ruggedtoast

PaulF81 wrote: »

I was one of the few from HPC that saw the writing on the wall once QE was announced. Without QE, I dare say the premonitions discussed would have came to pass. Joined in 06, stopped posting over there when it got all socialist in 2010 (and bought our country pad for 30% off regular market value).

Whilst I expected a crash, I didnt fully anticipate the scale of the problems that were there. I had talked about shorting RBS shares on here, just before they, lloyds and Barclays nearly went under. I didnt as the cash I was holding was a house deposit, forecast to yield about 80% over 10 years when compared to its equivalent value by reducing our expected mortgage.

If we had gone all in, or split 50% shorting RBS and 50% commodities ( i fancied platinum as a resource rather than gold due to its usage in fuel cells and other industry catalysts) as I wanted to but didnt have the balls to do, I wouldn't be currently working and I wouldnt have a mortgage.

The financial issue is now rapidly becoming a social one, that I believe will be solved the moment the boomer generation lose the reigns of power on the house of commons. Austerity I believe will be redistributed to those that caused the crisis, in terms of rationed NHS, means tested state pension and other OAP benefits. Why will those living in rented continue to support the longevity of those who didnt pay enough into the system and expect the younger generation to pick up the tab?

I remember on that site when QE was announced too. It was the first time I became uneasy about whether prices actually would come down, as previously the site had been mostly correct. There were people shorting Northern Rock for example who made a small fortune, and couldnt believe everyone wasn't doing it.

Unfortunately at that time I had no idea what shorting was, although possibly I wouldnt have the cojones to short something now anyway. Which is the reason I also didnt follow the HPC exodus into gold and Aussie dollars. Which I also regret.

At the QE point however was when a large number of people started saying the HPC was over , which was also when they started disappearing for being off message - rendering what was once a very useful economics website completely pointless.

One thing is for certain, if housing is to become affordable again it will be down to political change, not economic.

moneyinmypocket

I thought we were going to see a crash in 07/08 - when I saw the gov would never let this happen I bought. I have now enjoyed seeing my house go up in value while clearing the morgage down. My message to those left on the HPC chain gang - free yourselves don't be fools but while you can....because at moment you are buying but just not for yourself.

Loughton_Monkey

ruggedtoast wrote: »

......Also, a wise man once said - 'Brevity is the soul of wit'!

That was no "Wise Man"

THose words were uttered by a fictional character (Lord Polonius) in Shakespeare's Hamlet.

Lord Polonius was classified (by Hamlet) as a "Tired old fool". And WIlliam Hazlett, a writer, classified Polonius as a busybody who is accordingly officious garruless and impertinant.

But do feel free to identify him if you wish.