'We've reached a tipping point' Signs of house price weakness

wotsthat

Zither wrote: »

Sure, yes! I wasn't trying to say that there won't be any further growth in the economy, just that the opportunities for growth will be fewer as automation takes over. As I see it, this might mean that lower-skilled jobs like cashiers, analysts (big-data), construction workers becomes less employable.

Yes all the unemployed lamplighters, chimney sweeps, smiths, chandlers and thatchers have been a real drain on the economy since Victorian times.

wotsthat

Zither wrote: »

Yes, I kind of agree with that.

I think wages have been falling (through inflation) more than people realise for the last few years. Whether people realise that they've got less money in their wallet/purse would be an interesting debate.

It seems to me that emphasis on short-term gains (via house price inflation) has been at the expense of actual job and skills creation which seems a bit cannibalistic in the long-term?

It'd be great to pass on a lovely house to my children but even better to pass on a sustainable career path.

Why do other people's wages inform your own decision to rent?

Why can't you have a house to pass to your children and ensure they get a good education too?

Zither

wotsthat wrote: »

Yes all the unemployed lamplighters, chimney sweeps, smiths, chandlers and thatchers have been a real drain on the economy since Victorian times.

Hahaha yes! Where's all the shoe shines gone when you need one!!

Thrugelmir

Zither wrote: »

It'd be great to pass on a lovely house to my children but even better to pass on a sustainable career path.

Or an actual business.

robmatic

Crashy_Time wrote: »

If you have a mortgage you don`t own anything I`m afraid.

Just to add, if you don`t know the difference between owning a flat and having a mortgage on a flat, don`t bother pulling me up on my spelling pal. Cheers.

I know full well the difference between legal ownership and having a charge on a property.

Meanwhile, this legal fiction that you don't believe in leaves me several hundred pounds better off than you each and every month.

Rota

robmatic wrote: »

I know full well the difference between legal ownership and having a charge on a property.

Meanwhile, this legal fiction that you don't believe in leaves me several hundred pounds better off than you each and every month.

Crashy doesn't let facts get in the way of a good soundbite.

Where are you Crashy, missing you already. :kisses3:

Jack_Johnson_the_acorn

Rota wrote: »

Crashy doesn't let facts get in the way of a good soundbite.

Where are you Crashy, missing you already. :kisses3:

Just saw this on HPC, made me giggle....

dances with sheeple AKA CRASHY
28 Apr 2013

Try this; My rent, central Edinburgh £350 p.m 1997, £450 p.m now, decent flats, safe (for a city) areas.


So not only did he move from a flat to a HMO, he also moved out of central Edinburgh to a (safe-ish) "city area" :rotfl: doesn't mention rent of less than £350 either maybe someone has been fibbing.

System

He was probably full of lies then as well. Who knows how much he's really wasted but I guarantee its more than he says.

Jack_Johnson_the_acorn

Crashy_Time wrote: »

No Acorn brains, I moved from a one bed flat at 350 p.m, to an HMO at about 200 p.m, I now pay 50 p.m more than I did for that one bed 17 years ago. It is very simple and the figures don`t lie, so don`t you lie and change things around to suit whatever agenda you have. In fact you don`t have an agenda, you just bought at peak and are now trying to justify that terrible mistake to yourself. No amount of smileys can change the fact that you messed up.

dances with sheeple AKA CRASHY
28 Apr 2013

Try this; My rent, central Edinburgh £350 p.m 1997, £450 p.m now, decent flats, safe (for a city) areas.

:rotfl:

dances with sheeple
I live on HPC!

10,739 posts
Posted 28 April 2013 - 10:35 PM

My rent rose £100 over the last 16 years, many of those years were the so called boom years, I honestly don`t see much hope for rents in the coming depression years.

So according to his own words his rent has increased by 29%

I doubt we'll be hearing from Crashy any time soon

wotsthat

Crashy doesn't sound like the type of person that keeps meticulous records so, to be fair, is relying on memory and some rosy tinted hindsight. I don't think he's lying - probably just wrong and very confused.

I've an electronic record of every financial transaction I've made since 1996 and mortgage and pension records back to the late eighties. Never thought I'd be using these records as ammunition for arguments with people on that new fangled Internet thing.

I've nearly finished extending my mortgages(s) out to retirement age and have diverted capital repayments to pensions gaining 40% tax relief and will get at least 25% of those contributions back tax free. When I'm 55 I'll pay off remaining capital with tax free money rather than money after 40% tax has been taken. Depends what inflation does - might be better to let the amount owed dwindle away and I'll pay it off with my first monthly pension payment.

Crashy didn't seem to understand fixed rate mortgages so I lumped this into the 'offset' calculations as I didn't like to blow his mind by going into detail. He's actually helping me to pay off my mortgage as well as paying his landlord to keep the 'ponzi' going.

Thanks Crashy.