Will there really be a crash?

Sapphire

BikingBud wrote: »

@sapphire
We all recognise that kids are on much less than the average wage and are forced to start life with debt. Yes uni fees can pretty much be waived as the taxpayer will cover those.

And as you have recognised they have to rent from speculators and parasitic landlords that have been fortunate to get a break and are willing to exploit their kith and kin.

It's easy for some to sit there and profess to be wizard entrepreneurs and try to take full responsibility for their fortunate and exalted position but we all know it is absolute luck. And if it was down to their individual skills, knowledge and personal capabilities they would be asking the fries question:lipsrseal

All I can say is that for myself, I started off at the age of 17 in loads of low-paid jobs, which I thoroughly enjoyed and learnt a lot from (no benefits of any sort ever paid to me). I lived in a tiny room in my grandparents' housing association flat. No university degree, but got one (paid for by myself) once established in a profession. I suppose I went through a kind of apprenticeship, starting off quite 'low' and working my way up, but (foolishly perhaps) not to any kind of plan, just because I enjoyed it. I wish there were similar 'apprenticeships' nowadays and that they were promoted as a good thing. Learning on the job is the best thing you can do, and often you don't need a degree for that (though of course education is another thing that has been made into big business, so people have been brainwashed into believing they need a degree, any degree, in order to find a job).

I agree with your second paragraph, but I think that a blanket 'description' is being applied to all that are not 'young', including those who have never 'exploited' anyone, through property speculation or otherwise. No one I know is any kind of property speculator or developer.

By the way, there is a person in my family, in his early thirties so I suppose can be described as young, who doesn't have very much ambition but still manages to earn far more than I have ever earned. People in friends' families likewise.

Truffle_Snuffler

Sapphire wrote: »

OK. Point taken, but it does seem like that sometimes, perhaps because the ones I describe make the most noise. :cool:

Or maybe it was reported in the Daily Mail?

POPPYOSCAR

Truffle_Snuffler wrote: »

Or maybe it was reported in the Daily Mail?

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Truffle_Snuffler

POPPYOSCAR wrote: »

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You seem to have a problem with your keyboard.

POPPYOSCAR

Truffle_Snuffler wrote: »

You seem to have a problem with your keyboard.

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StevieJ

Truffle_Snuffler wrote: »

Are you Donald Trump?? Or do you just wish you were?

Sounds more like Katie Hopkins.

bertiewhite

BikingBud wrote: »

Health, happiness and time to spend with the ones I love is much more important than counting cash.

I tend to count my cash once a week for half an hour. The other 6 days, 23 and a half hours I spend doing all the stuff normal people do, including being healthy, happy and spending time with the ones I love as well. If I spent all my life not thinking about money, I'd soon have none and then I'd have no health or happiness either.

I'm very happy knowing that I won't be paying to live in somebody else's house at an ever increasing rate for the rest of my life though.

Living_proof

I certainly think there will be a serious correction in house prices because sentiment is pretty poor at present. Just today BMW has announced it will stop work on the Mini for one month directly after Brexit so that the dust will have settled and the future should be clearer. Presumably the workforce will be on full basic pay but if you were one of the zero hours workers connected with that industry you would be idiotic not to be planning on how you would get through that difficult time.

I live in a town where massive redundancies hang over 10% of the workforce in its biggest industry. That and Brexit mean there is so much uncertainty that anyone thinking of buying a property now would probably stay at home longer, or keep in rented accommodation until there is a stable economic environment in the country, which may be years away. Whilst all is not doom and gloom out there, I don't detect any feel-good factor in people's personal circumstances. Maybe people who are 'only just managing' will then be forced to sell up which will force prices down. And they couldn't go on rising exponentially after all.

enthusiasticsaver

There may be a correction, there are no guarantees about what will happen about house prices but ultimately if you need a house to live in what are the advantages of waiting beyond the fact that you may be able to buy slightly cheaper in a years time. The only reason in your case I would say it might be best to hesitate is because you are only buying a one bed which says you may want to sell and buy a 2 bed house or flat or even 3 bed within a few years. This may not be enough time for prices to recover. If you were buying somewhere you would be happy to live in for at least 5 years I would say go ahead and fix so your mortgage wont be able to rise in that time but tying yourself in with a smaller property may need a bit more thinking about. It also depends whereabouts in the country you are and your employment situation.

HPC_Ghuol_Hunter

Does the OP want to pay off their own mortgage or a landlords? You have found your dream forever home, so just knuckle down and crack on with your life.