Today's Bear food

Electrum

p1212 wrote: »

Who told you there is a ladder? The ones who could buy their London houses for 3x the average wage 20 years ago and now sitting on millions?

There is no ladder, it is just the ones who enjoyed decades of debt fueled HPI telling you, please get on the "ladder", please continue the bubble, please take on a huge mortgage for a studio bed flat to maintain THEIR wealth.

Absolutely right, its all not real. When everything is out of whack by so much the correction usually overshoots on the way back down.

Electrum

p1212 wrote: »

Everyone knows this won't go on forever and asset price/wage ratio will reset at some point, but central bankers and leaders want to extend this, until its clear the game is more or less over, so they can have their share from the wealth until that time. And all this will leave to us is a huge mess.

Not quite everybody, there are still plenty of perma prop bulls here, pumping property, out of fear mostly.

cells

Electrum wrote: »

Absolutely right, its all not real. When everything is out of whack by so much the correction usually overshoots on the way back down.

like most bears you probably make the same mistakes by concentrating on london and thinking its a national problem

1: Property in about 80% of the UK is affordable or cheap

2: London is expensive relative to what it was 20 years ago (especially inner London). But there are good reasons for that one of which is that from 1931-1991 census inner London lost half its population and doubled its housing stock which meant prices were far too cheap in some cases 20 years ago in inner London people were buying flats for below material costs (let alone labor land finance utilities risk and internals). So its not the case that 20 years ago was normal and now its expensive, its the case that 20 years ago was abnormal cheap and now its more of a norm

House price crash website has been up for about 15 years. Other versions of house prices are going to crash.com forums have been around for 20 years calling London a bubble and about to crash. 20 years on inner London prices are 10x higher and they are still waiting.

p1212

lisyloo wrote: »

I don't think I'm the smartest person around here or anywhere (by a long shot), but I reckon I can get a bit smarter and wealthier by observing what the smart/successful people do. In general I don't think the likes of Richard Branson, Alan Sugar, Martin Lewis or Chuck when he was building his business, spent hours and hours on forums. They got on and did stuff.

If you follow others, you will never achieve your goals. For example if you buy houses now in London, cause you want to follow the boomers, you will spectacularly fail...

All of these people READS a lot, which is almost the same, reading others opinions and have a think yourself too. At their time there was no internet and no forums.

ukcarper

p1212 wrote: »

If you follow others, you will never achieve your goals. For example if you buy houses now in London, cause you want to follow the boomers, you will spectacularly fail...

All of these people READS a lot, which is almost the same, reading others opinions and have a think yourself too. At their time there was no internet and no forums.

Just like all the people moaning prices are to high and waiting for a crash while they carry on renting.

Most boomers bought property when they needed it and did not try to second guess the market, in the short term some paid more than neccasary but it the long term they have all benefited.

p1212

ukcarper wrote: »

Just like all the people moaning prices are to high and waiting for a crash while they carry on renting.

Most boomers bought property when they needed it and did not try to second guess the market, in the short term some paid more than neccasary but it the long term they have all benefited.

As you pointed out very well they had the luxury of buying when they needed.

Today you are just not able to buy.

Now that's the difference between now and then, they got lucky as they could do as they wanted.

I don't really get your point about moaning, you have 100 times forum posts than me, you spent 100x more times here than me. So who is wasting more time talking?

economic

ukcarper wrote: »

Just like all the people moaning prices are to high and waiting for a crash while they carry on renting.

Most boomers bought property when they needed it and did not try to second guess the market, in the short term some paid more than neccasary but it the long term they have all benefited.

exactly right.

this p1212 sounds very bitter and angry. listning to him just ike the hpc folk will make you poorer.

if you need a home then just buy. pretty simple. a home is a home and even if it falls in value at least you can live there and not have to waste money on rent. i agree the average person in london cant afford it but its there own fault for not keeping up with earning power. life is hard, no one said it would be easy.

p1212

economic wrote: »

exactly right.

this p1212 sounds very bitter and angry. listning to him just ike the hpc folk will make you poorer.

if you need a home then just buy. pretty simple. a home is a home and even if it falls in value at least you can live there and not have to waste money on rent. i agree the average person in london cant afford it but its there own fault for not keeping up with earning power. life is hard, no one said it would be easy.

Lol, you say that it is the londoners laziness not to be able to save the yearly 100K house price inflation from their NET salary + pay at least monthly 1.5 grand rent + save up for 150-200K deposit?

So all of the londoners should be able to save up monthyl 12-13 grand, if not, its their fault, cause they are not keeping up with earning power???

economic

p1212 wrote: »

Lol, you say that it is the londoners laziness not to be able to save the yearly 100K house price inflation from their NET salary + pay at least monthly 1.5 grand rent + save up for 150-200K deposit?

So all of the londoners should be able to save up monthyl 12-13 grand, if not, its their fault, cause they are not keeping up with earning power???

you just dont get it do you? and prices have not gone up 100k a year every year. you are making things up and being silly.

look we all know life is unfair. it always has been. there will always be people who cant afford to buy. of course not every one can afford it. if someone wants to buy in london but cant afford it what is the point of moaning about and getting angry? perhaps that person should have worked harder in their education and got a better job? or perhaps taken more risks in business?

i myself studied hard, went to top uni and worked in banking in a support function. i averaged £80-100k income over the last 9 years. i dont need to work anymore now. i saved hard and was able to buy a nice flat in a nice area worth 600k. do not think everyone is like you. i know lots of people able to buy. london has a lot fo people earning decent wages. im sorry if you dont.

p1212

economic wrote: »

look we all know life is unfair. it always has been. there will always be people who cant afford to buy. of course not every one can afford it. if someone wants to buy in london but cant afford it what is the point of moaning about and getting angry? perhaps that person should have worked harder in their education and got a better job? or perhaps taken more risks in business?

i myself studied hard, went to top uni and worked in banking in a support function. i averaged £80-100k income over the last 9 years. i dont need to work anymore now. i saved hard and was able to buy a nice flat in a nice area worth 600k. do not think everyone is like you. i know lots of people able to buy. london has a lot fo people earning decent wages. im sorry if you dont.

Can you please tell me how can I save 600K in 9 years from monthly net 4500-5000, while paying rent, eating etc...? That is saving monthly 5.5 grand from an average net salary of 5 grand.

Even if you can save half of your salary, 2.5 grand per month, it takes 20 years to buy just a flat with all your top uni + top banking job.