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Debate House Prices


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The Superboomers!

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Comments

  • Generali
    Generali Posts: 36,411 Forumite
    10,000 Posts Combo Breaker
    daveyjp wrote: »
    The article says "over 50", so those in their late 60s now would possibly have owned a house in the early 70s.

    There were also double figure interest rates and a house price crash in the late 1980s which affected those now in their 50s.

    It's a rather crap piece of writing that describes people in their late 60s as "over 50" although strictly speaking it's accurate.

    The article doesn't mention interest rates AFAICS.
  • PasturesNew
    PasturesNew Posts: 70,698 Forumite
    Part of the Furniture 10,000 Posts Name Dropper Photogenic
    daveyjp wrote: »
    ... a house price crash in the late 1980s which affected those now in their 50s.

    My first shared ownership bedsit suffered from negative equity. Bought in about 89/90 or so, sold in'97 still with a 5% negative equity - I had to write a cheque out to sell it.
  • thequant
    thequant Posts: 1,220 Forumite
    PasturesNew wrote: »
    My first shared ownership bedsit suffered from negative equity. Bought in about 89/90 or so, sold in'97 still with a 5% negative equity - I had to write a cheque out to sell it.

    Shared ownership! Bedsit! Bought at the peak! Sold at the bottom!

    Let me guess was it new build as well ?

    No wonder you are having to re-use tea bags in your twilight years
    PasturesNew wrote: »
    I'm in that group .... just ate some 3 day old Lidl oven chips and opened a can of mushy peas..... not all over 50s are loaded .

    I have to admit, I was wrong. It's not all about hard work, but also about having the intelligence to make the right decisions at the right time.
  • chucknorris
    chucknorris Posts: 10,795 Forumite
    Part of the Furniture 10,000 Posts Name Dropper
    thequant wrote: »
    Shared ownership! Bedsit! Bought at the peak! Sold at the bottom!

    Let me guess was it new build as well ?

    No wonder you are having to re-use tea bags in your twilight years



    I have to admit, I was wrong. It's not all about hard work, but also about having the intelligence to make the right decisions at the right time.


    Do you really have to be that unpleasant? Why don't you delete your post and I will also delete this one, then there will be no record of your hasty words.
    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 stop
  • mystic_trev
    mystic_trev Posts: 5,434 Forumite
    Part of the Furniture 1,000 Posts Name Dropper Combo Breaker
    thequant wrote: »
    Shared ownership! Bedsit! Bought at the peak! Sold at the bottom!

    Let me guess was it new build as well ?

    No wonder you are having to re-use tea bags in your twilight years



    I have to admit, I was wrong. It's not all about hard work, but also about having the intelligence to make the right decisions at the right time.

    Sanctimonious quant……although I think I may have spelt the last word incorrectly!
  • PasturesNew
    PasturesNew Posts: 70,698 Forumite
    Part of the Furniture 10,000 Posts Name Dropper Photogenic
    thequant wrote: »
    Shared ownership! Bedsit! Bought at the peak! Sold at the bottom!

    Let me guess was it new build as well ?
    Yes, but I was living in an old mobile home with a mad site owner who kept 'adjusting' the rules to suit themselves at the time, so keen to get out of there.
    thequant wrote: »
    No wonder you are having to re-use tea bags in your twilight years
    Tea bags? Luxury!!
    thequant wrote: »
    I have to admit, I was wrong. It's not all about hard work, but also about having the intelligence to make the right decisions at the right time.
    Back then we didn't have the information that's available these days .... the limit of my knowledge was a 5 mile radius of my house really :)
  • PasturesNew
    PasturesNew Posts: 70,698 Forumite
    Part of the Furniture 10,000 Posts Name Dropper Photogenic
    mystic_trev wrote: »
    Sanctimonious quant……although I think I may have spelt the last word incorrectly!

    I think you're right, I think it's spelt with a C and a U
    :)
  • System
    System Posts: 178,423 Community Admin
    10,000 Posts Photogenic Name Dropper
    PasturesNew wrote: »
    Y

    Back then we didn't have the information that's available these days .


    Lots of hindsight has only become available later.
    This is a system account and does not represent a real person. To contact the Forum Team email forumteam@moneysavingexpert.com
  • Pobby
    Pobby Posts: 5,438 Forumite
    yes there are some oldies you are well off. Likewise there are many who are not. Too many times we have the "perfect" poster who sold their shares top of the boom, bought repro homes at the bottom of the market.

    Oh to be that savvy. After the boom in housing late 80s, I made the decision, having seen the misery that inflated interest rates brought, that the lesson had been learnt, the housing market would never super inflate again. Then again, if anyone had told me that base rates would have hit half of one percent I would have wondered at there sanity.
  • gbsilp
    gbsilp Posts: 74 Forumite
    mystic_trev wrote: »
    Sanctimonious quant……although I think I may have spelt the last word incorrectly!

    In my experience, most quants are *way* out there on the autistic spectrum........
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