Talking down the market

dannyboycey

I've personally given up trying to disuade my FTB friends from getting on the ladder. There's enough information out there now for any intelligent person to realise that it's a bad time to buy your first house (understatement of the year?) unless you are paying cash.

It's like watching a car crash in slow motion and not being able to stop it. I saw a couple on the news yesterday in a feature about mis-selling of mortgages. They were asked what rate they were currently on and how much their monthly payments were - they didn't know the answer to either!! Yet they were complaining that the lender had acted irresponsibly! If people are stupid enough to saddle themselves with debt they can't afford just to be labelled a 'homeowner', there's nothing me or anyone else can do to convince them it's a bad idea. Of course, when they are out on their ar5es in the street, it will be everyone elses fault but theirs!

Sapphire

dannyboycey wrote: »

I've personally given up trying to disuade my FTB friends from getting on the ladder. There's enough information out there now for any intelligent person to realise that it's a bad time to buy your first house (understatement of the year?) unless you are paying cash.

It's like watching a car crash in slow motion and not being able to stop it. I saw a couple on the news yesterday in a feature about mis-selling of mortgages. They were asked what rate they were currently on and how much their monthly payments were - they didn't know the answer to either!! Yet they were complaining that the lender had acted irresponsibly! If people are stupid enough to saddle themselves with debt they can't afford just to be labelled a 'homeowner', there's nothing me or anyone else can do to convince them it's a bad idea. Of course, when they are out on their ar5es in the street, it will be everyone elses fault but theirs!

Yes - and in a way, it is also the 'government's' fault that there is so much greed in our society, and that even 22-year-olds consider that they absolutely deserve to own a house (not even a flat, mind). This 'government' has encouraged greed in order to earn short-term popularity for itself - along with a lot of other connected and unconnected things, like:

1. Massive immigration of people from all over the world, without vetting their suitability as 'useful' citizens and making sure they will not be a drag on the economy or cause social problems.

2. Encouraging the population to get itself massively into debt in order that the pension issue can be shelved while they are in power (while making sure they will get high pensions themselves, of course).

3. Destroying the education system by giving the impression that everyone must have a degree (as often as not a fashionable, totally useless degree like media studies, rather than one in subjects that would help the country in the future, like the sciences). Why on earth can they not set up apprenticeships - which provided a far more useful way for many people to learn a trade?

4. Encouraging laziness and giving the impression that any old Tom, !!!!!! and Harry can live off benefits - which does happen in certain areas.

5. Allowing tax dodging by the wealthiest people in this country on a huge scale.

I could go on . . .

When the whole joke economy collapses, where will Britain be? I tell you, I am really scared for me and mine.

Sorry to go on about this, but I am so angry at the dangerous clowns who 'rule' this country. :mad:

dolce_vita

Sapphire wrote: »

Yes - and in a way, it is also the 'government's' fault that there is so much greed in our society, and that even 22-year-olds consider that they absolutely deserve to own a house (not even a flat, mind). This 'government' has encouraged greed in order to earn short-term popularity for itself - along with a lot of other connected and unconnected things, like:

1. Massive immigration of people from all over the world, without vetting their suitability as 'useful' citizens and making sure they will not be a drag on the economy or cause social problems.

2. Encouraging the population to get itself massively into debt in order that the pension issue can be shelved while they are in power (while making sure they will get high pensions themselves, of course).

3. Destroying the education system by giving the impression that everyone must have a degree (as often as not a fashionable, totally useless degree like media studies, rather than one in subjects that would help the country in the future, like the sciences). Why on earth can they not set up apprenticeships - which provided a far more useful way for many people to learn a trade?

4. Encouraging laziness and giving the impression that any old Tom, !!!!!! and Harry can live off benefits - which does happen in certain areas.

5. Allowing tax dodging by the wealthiest people in this country on a huge scale.

:mad:

Everything you have said the government has done it has done intentionally.

All of these things are pre-requisites for a global economy.

The other things you have left out are increased surveillance and a rise in the cost of living.

These things are happening now.


Where is it all heading.................?

merlinthehappypig

CYBERCIDERSAVER wrote: »

I had the misfortune to catch the end of homes live on BBC 1 today.

A caller phoned in for some advice....

"We wondering whether we should buy our council house?"

The reply ( with NO other queries from the first expert. you know like: " do you have a job?" )

"Absolutely."

Sadly I caught that too. What a prat.

Seriously, though, this just underlines the problems. I agree that people need to take responsibility for their own actions, but not everyone is literate or financially capable.

Those of us on here are lucky that we are intelligent enough to be able to enter into debate about these issues. Despite our differing opinions, we are at least capable of forming them on our own. Many people, most people possibly, believe what they are told by so-called experts and the media. The overwhelming message about property is 'Buy, Buy, Buy' regardless of personal circumstances. Perhaps it is greed, but it is only natural for people to want what others have (or there wouldn't be any wars).

Many people in financial difficulties now are there because of greed, I agree, but many have also been coerced by unscrupulous salesmen and poorly informed media.

Both sides need to take some responsibility.

budget_counsellor_shaz

Sapphire wrote: »

Yes - and in a way, it is also the 'government's' fault that there is so much greed in our society, and that even 22-year-olds consider that they absolutely deserve to own a house (not even a flat, mind).

I owned my first home when I was 21:rolleyes: .......it was a 3 bedroom semi with a garage on the side. My ex husband and myself were both in the catering trade (so not well paid). This was 20 years ago:eek:

Was this greed on my part??? Why shouldn't people want a house? I would like my children to be able to afford a house too

Shaz

mr.broderick

budget_counsellor_shaz wrote: »

I owned my first home when I was 21:rolleyes: .......it was a 3 bedroom semi with a garage on the side. My ex husband and myself were both in the catering trade (so not well paid). This was 20 years ago:eek:

Was this greed on my part??? Why shouldn't people want a house? I would like my children to be able to afford a house too

Shaz

Must admit i had pictured you as a school dinner lady...

Sapphire

budget_counsellor_shaz wrote: »

I owned my first home when I was 21:rolleyes: .......it was a 3 bedroom semi with a garage on the side. My ex husband and myself were both in the catering trade (so not well paid). This was 20 years ago:eek:

Was this greed on my part??? Why shouldn't people want a house? I would like my children to be able to afford a house too

Shaz

Each to their own, but at the age of 22 (without a partner or husband) I didn't even dream of buying a property. I had other priorities, i.e. finding myself, sorting out what I wanted to do with my life, experiencing and enjoying life. I was still very immature at that age, and I find that a lot of other people are, too. I didn't really know what I wanted from life - certainly not to settle down.

I didn't buy my first property until my late twenties, and didn't regret it. I certainly didn't buy it as an investment, but as a home to live in. It was a flat, bought at (as far as I can remember) 3 x salary mortgage. I never even wanted a house, since I was always working and wasn't around much, and had other priorities.

My point is that people are made to think that buying a house - more often than not as an investment - is the be all and end all of life, which it sure isn't. Many have unrealistic expectations, and they would have been regarded as such when properties were less expensive and mortgages loans were generally at the most 3.5 times salary. Consequently, we have the crazy situation where people - in their 'desperation' - borrow money that they will never be able to repay, whether it is for a mortgage, for MEW, or to buy the latest must have gadgets, holidays, etc., on credit cards in order to keep up with what they perceive are the most important things in life. In turn, this has made prices go ever higher. What a shallow mentality has been encouraged in people in the last few years, and how can an economy ultimately survive with so much debt?

budget_counsellor_shaz

mr.broderick wrote: »

Must admit i had pictured you as a school dinner lady...

You are soooo funny:rotfl:

PROFESSIONAL_LANDLORD

mr.broderick wrote: »

In light of the recent "crash" threads which have had more emphasis due to the recent Northern Rock Debacle, can I just say i hope the people currently locked in rented accommodation due to the high prices ie macaque,carolt etc the best of luck with a downturn. I know you are desperate to buy a home and hopefully with the constant crash threads a change in sentiment might occur triggering a price crash then we can all live happily ever after and buy a home. Amen.

When I read that post I thought another poor struggling individual who probably can't get on the property ladder, who maybe felt quite bitter,' well can't really fault him for that '...................BUT then Mr broderick's next post ................

]Thing is i sold to rent in january so a crash would suit me, i keep mentioning this but no-one is listening to me. Is anyone listening to me?.

Loud and Clear mr B

Just sick of people with ulterior motives posting constant negative vibes. Macaque you are beginning to annoy me aswell, the last member to do this (Sortofok) was eliminated

So mr.broderick is the same as me, a PROPERTY SPECULATOR ! but a better bull$hitter

mr.broderick

No not a property speculator, i dont own a property at the moment. I am in rented. Do bulls*it sometimes though to help me sell cars.