30% house price falls....that's optimisitic

[King Penda]

3 minutes ago, Stuey said:

I wonder when it becomes cheaper to eat more (especially proteinz) for the several degrees of thermogenesis than it is to crank the heating up. 

There's an idea for you Pends...

Might be practical for one person but your going to get social services on your back if you have cold kids 

[Formerly]

1 hour ago, haroldshand said:

The worries and madness of taking on huge debt and not treating it with fear and respect  is soon to become a very real thing again. I just wonder if there are 40 year olds out there now who in 20 years time and going into their 60's who will look back at their shit expensive house back then thinking WTF did we do and who are still paying it off.

I agree. I do think they've been badly advised though. They were brought up with the mantra that some debt was good (e.g. student loans). Many of their parents will have told them that buying a house is the best investment, I know mine persist in this to this day, conflating their experience with a very different market today. In their adult lifetimes, these 40 year olds have seen property prices rise consistently, reinforcing this belief.

I feel even more for the 30 year olds who are more likely to have a degree and an extra 30k of student debt, the vast majority of whom will have 9% extra taken off their salaries for their entire working life. On top of this, they've never seen a falling property market, not even the 2008 blip. Many may be trapped with their 1/4 million pound flats for life.

[Formerly]

On 14/12/2022 at 22:22, Boon said:

Remember that percentages ain't equal to each other because the amount is different.

So if £250k had gone up 100% to £500k, the round trip back to £250 is only 50%, and not 100%.

Using the same figs, £250k going up by 20% to £300k, if that then lost (for arguments sake) 33%, then that's down to £200k - reversing pandemic gains and then some.

But I disagree that nice homes in cold areas will fall the most. What about shit homes in cold areas? From what I see the lower end of the market gained a disproportionate sugar boost because of the SD holiday.

It's amazing the number of people who can't work out percentages. Many believe  +25% one year, then -25% the next gets you back to 100% of your starting value. Yet 125% * 75% < 94%.

[haroldshand]

2 hours ago, onlyme said:

Its now, commented before on the inflation in the US, top of the list and not least food and basics, which we are still trailing significantly, the price rises there are eyewaterinw and feel we have a lot of catch up coming. From the recent PPI apparently for November vegetable prices up 38% in November month on month, 80% YOY, near doubling in 2022 and some suggesting doubling again in 2023 - impossible? - not when you consider factoring in energy input costs and fertiliser possibly not even being available in anything like  the volumes before which means crop yields way down. When the US sneezes and all that and the position that the BOE has very little wriggle room now, if they don't follow the FED sterling gets kicked in the nuts and everything that goes with that. Personal expenditure has been slammed this year and there is no sign of let up t all. once discretionary expenditure tails off the redundancies and short time working will follow leading to immediately distressed renters and owners thanks to very limited wriggle room in monthly budgets which have partly only been held up in the US by swiping the credit card.

VEGETABLE PRICES SURGE 38% IN ONE MONTH AS FOOD INFLATION EXPLODES

https://www.bitchute.com/video/o5g5RDISSm9H/

About time we started taking a look at fat obese people who eat way too much of our supplies

I am being serious

[onlyme]

2 minutes ago, Formerly said:

I agree. I do think they've been badly advised though. They were brought up with the mantra that some debt was good (e.g. student loans). Many of their parents will have told them that buying a house is the best investment, I know mine persist in this to this day, conflating their experience with a very different market today. In their adult lifetimes, these 40 year olds have seen property prices rise consistently, reinforcing this belief.

I feel even more for the 30 year olds who are more likely to have a degree and an extra 30k of student debt, the vast majority of whom will have 9% extra taken off their salaries for their entire working life. On top of this, they've never seen a falling property market, not even the 2008 blip. Many may be trapped with their 1/4 million pound flats for life.

50K+ all in now.

Even more if they have been normalised into thinking/needing a masters for a job as well - many have.

 

[Red Debt Redemption]

2 hours ago, One percent said:

I keep mentioning the wessie couple I know, mainly because it beggars belief and I’m sure they are not the only ones.  They have a B&b (well flop house and the dropped doing breakfast) with an IO mortgage of quarter of a million, with no vehicle for repayment. Last year, he decided to relive  his yoof so a 10k loan for a motorbike he couldn’t handle. This year a brand new fuckoff BMW, over 50 k, again on some kind of finance.  They are out for meals all the time, splurge on new clothes and new stuff for the house constantly. Afaics, they have no pension.  He’s mid 60s she is late 50s.  Guess they will be working until they drop. What happens then, god only knows.  
 

On the surface, they look quite well to do. Fur coat and no knickers as my gran would say. 

I'm in two minds about this I prefer the Dosbods easy lifestyle, financial security and the freedom it brings but at the same time seen plenty drop before pensions or bang on them 65. Imagine how pissed off you'd be terminal illness weeks to live and your pension sitting there you'll never see and thinking of that 10k bike and 50k bmw, 20k holiday knowing they wouldn't have to pay it back if in the same boat but got to enjoy the experience.

A gamble either way. Unless you plan to wangle it to leave something for kids, grandkids but again you won't see it.

[King Penda]

1 hour ago, Formerly said:

I agree. I do think they've been badly advised though. They were brought up with the mantra that some debt was good (e.g. student loans). Many of their parents will have told them that buying a house is the best investment, I know mine persist in this to this day, conflating their experience with a very different market today. In their adult lifetimes, these 40 year olds have seen property prices rise consistently, reinforcing this belief.

I feel even more for the 30 year olds who are more likely to have a degree and an extra 30k of student debt, the vast majority of whom will have 9% extra taken off their salaries for their entire working life. On top of this, they've never seen a falling property market, not even the 2008 blip. Many may be trapped with their 1/4 million pound flats for life.

The question is what are they going to do about it sit there moaning or move north .even the councils in the south know it’s cheaper by far up here this is a recent case.except I’ve lost the link fuck https://www.stokesentinel.co.uk/news/stoke-on-trent-news/stoke-trent-becomes-london-dumping-7940967.amp

[One percent]

11 minutes ago, King Penda said:

The question is what are they going to do about it sit there moaning or move north .even the councils in the south know it’s cheaper by far up here this is a recent case.except I’ve lost the link fuck https://www.stokesentinel.co.uk/news/stoke-on-trent-news/stoke-trent-becomes-london-dumping-7940967.amp

Where to start with the entitlement in that article. @Red Debt Redemption this is why I don’t want debt and wish to be financially free of the state. 

[King Penda]

2 minutes ago, One percent said:

Where to start with the entitlement in that article. @Red Debt Redemption this is why I don’t want debt and wish to be financially free of the state. 

Correct 

1 hour ago, haroldshand said:

About time we started taking a look at fat obese people who eat way too much of our supplies

I am being serious

Mine is all beer don’t ban beer

[King Penda]

14 minutes ago, One percent said:

Where to start with the entitlement in that article. @Red Debt Redemption this is why I don’t want debt and wish to be financially free of the state. 

I’m doing modern art on my steamed up windows it’s green .but I got bored waiting for my butter to melt .

[Formerly]

30 minutes ago, King Penda said:

The question is what are they going to do about it sit there moaning or move north .even the councils in the south know it’s cheaper by far up here this is a recent case.except I’ve lost the link fuck https://www.stokesentinel.co.uk/news/stoke-on-trent-news/stoke-trent-becomes-london-dumping-7940967.amp

How does someone in negative equity and debt of 1/4 million make the books balance to allow them to move up North?

[One percent]

3 minutes ago, King Penda said:

I’m doing modern art on my steamed up windows it’s green .but I got bored waiting for my butter to melt .

Have you not got a dehumidifier?   You do know that it’s standard dosbodder equipment.  

[King Penda]

1 minute ago, Formerly said:

How does someone in negative equity and debt of 1/4 million make the books balance to allow them to move up North?

With great difficulty but they set an example for others ie don’t do this we are tools (but we have a degree).it’s not fair etc .ps only a tool would pay 250k for a flat

[King Penda]

5 minutes ago, One percent said:

Have you not got a dehumidifier?   You do know that it’s standard dosbodder equipment.  

Of course .

[Formerly]

6 minutes ago, King Penda said:

With great difficulty but they set an example for others ie don’t do this we are tools (but we have a degree).it’s not fair etc .ps only a tool would pay 250k for a flat

I agree, but plenty don't think it's an unreasonable price, even up Norther.

[King Penda]

3 minutes ago, Formerly said:

I agree, but plenty don't think it's an unreasonable price, even up Norther.

There are areas of stupidity all over the place Dublin York Manchester Leeds but the south east and cornwall excell

[King Penda]

Let me clarify one point (yes I’m a bit of a cunt) but I’m not knocking one off about people losing their homes I use cold hearted logic and we will never get a house price crash unless thousands do lose their homes .they are in short going to take one for the team which is wider society. There has to be victims and there’s nothing I can do to stop it .

[Formerly]

Agree. No pleasure in seeing working people lose their homes. BTL's losing their property portfolios is another matter.

[haroldshand]

26 minutes ago, Formerly said:

How does someone in negative equity and debt of 1/4 million make the books balance to allow them to move up North?

I know so many people who had bags of house equity in a southern area they hated in a dull boring house and area  and could of lived in some of the most attractive parts of the north and had lifestyle quality go up 10 fold, what stopped them but the usual "well there is a little work or poorly paid" at which point I never want to hear their self pitying gripes ever again.

You get yourself in that beautiful  home and area that you love and paid outright and usually with a decent financial cushion and then you just knuckle down and make it work. Everyone that I do know who had the bottle and done just this have all led far better lives in the long run

[Formerly]

1 minute ago, haroldshand said:

I know so many people who had bags of house equity in a southern area they hated in a dull boring house and area  and could of lived in some of the most attractive parts of the north and had lifestyle quality go up 10 fold, what stopped them but the usual "well there is a little work or poorly paid" at which point I never want to hear their self pitying gripes ever again.

You get yourself in that beautiful  home and area that you love and paid outright and usually with a decent financial cushion and then you just knuckle down and make it work. Everyone that I do know who had the bottle and done just this have all led far better lives in the long run

It works when you have positive equity. When it's negative equity, it's a LOT harder. Unless you have other investments, your deposit's gone, let alone any dream of buying outright.

[haroldshand]

1 minute ago, Formerly said:

Agree. No pleasure in seeing working people lose their homes. BTL's losing their property portfolios is another matter.

I use the Daily Telegraph more than any other place to get my fix of MSM propaganda and am just loving  all the self pitying BTL comments sections at the moment

Their level of self delusion at the "suffering they are going through" and how little most of us don't give a flying fuck is off the scales

[Bobthebuilder]

41 minutes ago, King Penda said:

I’m doing modern art on my steamed up windows

Dead Kennedys.

Efficiency and progress is ours once more
Now that we have the neutron bomb
It's nice and quick and clean and gets things done
Away with excess enemy
But no less value to property
No sense in war but perfect sense at home
The sun beams down on a brand new day
No more welfare tax to pay
Unsightly slums gone up in flashing light
Jobless millions whisked away
At last we have more room to play
All systems go to kill the poor tonight

[DurhamBorn]

6 minutes ago, haroldshand said:

I know so many people who had bags of house equity in a southern area they hated in a dull boring house and area  and could of lived in some of the most attractive parts of the north and had lifestyle quality go up 10 fold, what stopped them but the usual "well there is a little work or poorly paid" at which point I never want to hear their self pitying gripes ever again.

You get yourself in that beautiful  home and area at you love and paid outright and usually with a decent financial cushion and then you just knuckle down and make it work. Everyone that I do know who had the bottle and done just this have all led far better lives in the long run

Its beyond funny.Reminds me of when i went to my cousins wedding in Bedford back in the day.Some guests saying how hard it must be with such low wage jobs "up there",then me telling them i worked for GSK 12 miles from home in beautiful Teesdale on very good money my house cost 0.8 x my yearly salary when i bought it.Of course Boro etc are shit,but still pockets of good wages on offer.

[goldbug9999]

8 minutes ago, haroldshand said:

I use the Daily Telegraph more than any other place to get my fix of MSM propaganda and am just loving  all the self pitying BTL comments sections at the moment

Their level of self delusion at the "suffering they are going through" and how little most of us don't give a flying fuck is off the scales

Doesnt matter how bad things get in other ways because BTLers getting roasted makes it all worth while.

[Frank Hovis]

2 hours ago, haroldshand said:

About time we started taking a look at fat obese people who eat way too much of our supplies

I am being serious

 

Surely a much greater societal cost is unfit / unhealthy people having the heating on all of the time.