Noallegiance Posted February 16, 2018 Share Posted February 16, 2018 https://amp.theguardian.com/money/2018/feb/16/homeownership-among-young-adults-collapsed-institute-fiscal-studies No sh1t. Quote Link to comment Share on other sites More sharing options...
slawek Posted February 16, 2018 Share Posted February 16, 2018 1 minute ago, Noallegiance said: https://amp.theguardian.com/money/2018/feb/16/homeownership-among-young-adults-collapsed-institute-fiscal-studies No sh1t. http://www.bbc.co.uk/news/business-43075099 http://www.telegraph.co.uk/news/2018/02/16/millennials-middle-incomes-half-likely-homeowners-1990s/ http://www.independent.co.uk/news/business/news/homeownership-rate-young-people-collapses-house-prices-institute-for-fiscal-studies-a8212646.html A quick comparison of the comments between Telegraph and the guardian readers Telegraph: EU immigrants, snowflakes it was always tough, The guardian: babyboomers, btl Quote Link to comment Share on other sites More sharing options...
dougless Posted February 16, 2018 Share Posted February 16, 2018 But our economy is strong and all is well in the UK..... Quote Link to comment Share on other sites More sharing options...
warrior88 Posted February 16, 2018 Share Posted February 16, 2018 (edited) 4 minutes ago, dougless said: But our economy is strong and all is well in the UK..... Plus owning a home is a liability, one has to repay mortgage but one can always choose not to pay rent and just be homeless (empower the youth!). Edited February 16, 2018 by warrior88 Quote Link to comment Share on other sites More sharing options...
winkie Posted February 16, 2018 Share Posted February 16, 2018 14 minutes ago, dougless said: But our economy is strong and all is well in the UK..... .....living in temporary accommodation is not strong or well. http://researchbriefings.parliament.uk/ResearchBriefing/Summary/SN02110 Quote Link to comment Share on other sites More sharing options...
spyguy Posted February 16, 2018 Share Posted February 16, 2018 18 minutes ago, dougless said: But our economy is strong and all is well in the UK..... Well.. with what looks like structural deficit of 6% ..... UK economy looks fuxxed.  Quote Link to comment Share on other sites More sharing options...
spyguy Posted February 16, 2018 Share Posted February 16, 2018 And ... If home ownership by the under 45 ha coolpased then home sales by the over 45 has collapsed too. You really have to be careful hat UK housing becomes priceless - in the worse meaning of the word. Quote Link to comment Share on other sites More sharing options...
stuckmojo Posted February 16, 2018 Share Posted February 16, 2018 10 minutes ago, spyguy said: And ... If home ownership by the under 45 ha coolpased then home sales by the over 45 has collapsed too. You really have to be careful hat UK housing becomes priceless - in the worse meaning of the word. Very good point, as a lot of the sales to under 45 will be HTB shit new builds directly from builders, meaning that boomers aren't achieving their goals. Quote Link to comment Share on other sites More sharing options...
hi5lo5 Posted February 16, 2018 Share Posted February 16, 2018 24 minutes ago, spyguy said: And ... If home ownership by the under 45 ha coolpased then home sales by the over 45 has collapsed too. You really have to be careful hat UK housing becomes priceless - in the worse meaning of the word. Isn't it the motive of any govt is to keep those prices up and eventually trigger some kind of tax(CGT/ IHT) on the unearned income? Quote Link to comment Share on other sites More sharing options...
winkie Posted February 16, 2018 Share Posted February 16, 2018 2 minutes ago, hi5lo5 said: Isn't it the motive of any govt is to keep those prices up and eventually trigger some kind of tax(CGT/ IHT) on the unearned income? Don't want it to go up that much!......buying a home should have nothing to do with doing it for the value to increase, it is to provide a place to live that one day will own....what the value of it might be is immaterial, of no importance whatsoever.......people just don't get it. Quote Link to comment Share on other sites More sharing options...
spyguy Posted February 16, 2018 Share Posted February 16, 2018 11 minutes ago, hi5lo5 said: Isn't it the motive of any govt is to keep those prices up and eventually trigger some kind of tax(CGT/ IHT) on the unearned income? Well .. how do they do that when the houses dont sell and OOs are not subject to CGT? I think most government primary aim is to avoid having their dead corpses hung, upside down, from a lamppost. Everything beyond that is up for grabs. The UK is in a total mess. Debt rapidily approaching 100% GDP - levels associated with a Trumpian shithole. Vast unfudned pensions buills about to land on the door mat. Most families 25->45 on tax credits/benefits rather than working in their peak eanrings period. Even wrose- laods of EE families also on tax credits/benefits too. All down to Brown. And then Gidiot not moving faster to shut it down and trying to vcover it up by creating a mini house price boom. Quote Link to comment Share on other sites More sharing options...
apom Posted February 16, 2018 Share Posted February 16, 2018 Until house prices and rent are considered to be part of the inflationary measure we will not see interest rates rising to protect the economy from this inflation. The debt incurred to pay more for houses shows directly as profit to the banks and it created Gordon Browns miracle economy as the great unwashed pumped their debt back into the economy. So, why was it the governments policy to have its citizens more in debt without actually owning anything more than they would have 10, 20, 30 years before? It was not for the good of the people. It has been a long time since I have posted here. I am now a home owner, I am one with a significant amount of equity and I live in London with a mortgage I can easily afford. It is not for my good that I say this. It is me looking at a situation that is not fair. Not legal and demonstrates a government policy which is sacrificing the future of the young to line the pockets of the old. A policy created under Labour and allowed to continue under the conservatives. Consider the working week of the average renter and home owner. What proportion of that week is to pay rent or mortgages? how has that grown? where does it go in the end? the little guy, the grubby landlords are just as much pawns as we are in a greater game. The banks and the Governments support of the banks. The young need to stop whining here and elsewhere. They have been for too long. Hell, the same arguments are being made today that were a decade ago when I was active. What was done was not legal. There is no argument that can be made that house price inflation should not be part of the mechanism that protects the economy and the people of this country. In removing it, in not responding to the associated debt crisis, it created the 08 financial crisis destroyed the economy. This action can only be considered as treason. The young are stronger than the old. The young are not as angry as they should be. They are not as organised as they should be. If the governing bodies, the police, the FSA's. SFO's of the world refuse to act. Then is the law on the side of an angry youth who acts to enforce the law of the country? Quote Link to comment Share on other sites More sharing options...
goldbug9999 Posted February 16, 2018 Share Posted February 16, 2018 2 minutes ago, apom said: The young are stronger than the old. The young are not as angry as they should be. They are not as organised as they should be. The young are their own worst enemy, they have chosen to be more concerned about trump, refugees and EU fruit pickers than about their own prospects of jobs and homes. Quote Link to comment Share on other sites More sharing options...
apom Posted February 16, 2018 Share Posted February 16, 2018 "The young are their own worst enemy, they have chosen to be more concerned about trump, refugees and EU fruit pickers than about their own prospects of jobs and homes." No, they are not doing enough. But, what they need to do should never be something that they should have to do. The government only exists to provide the infrastructure and rules needed for a society to exist. The young's worst enemy is the Government. Quote Link to comment Share on other sites More sharing options...
winkie Posted February 16, 2018 Share Posted February 16, 2018 I agree.......was not that long ago when nobody could accumulate more debt from the equity from the increase in the value of their house.......no building society would or could allow that except for a small home improvement loan secured against the mortgaged property........now the main reason is to get more secured debt into the system, so to enable that is for the rapid rise in prices and loose credit.......they don't want you to be debt free with savings, they want your consumption and debt. Quote Link to comment Share on other sites More sharing options...
Social Justice League Posted February 16, 2018 Share Posted February 16, 2018 This action can only be considered as treason.  I totally agree with this. The UK is run for the benefit of the banking system now. The actual citizens are just a side show. Many need to be hung from tall trees imo. Politicians, elites, bankers, the lot. Quote Link to comment Share on other sites More sharing options...
goldbug9999 Posted February 16, 2018 Share Posted February 16, 2018 9 minutes ago, apom said: The young's worst enemy is the Government. They could change that if they were coordinated behind some party with coherent policies, instead they are choosing corbyn. This generation prefer virtue signaling to looking after their own interests. Quote Link to comment Share on other sites More sharing options...
Errol Posted February 16, 2018 Share Posted February 16, 2018 36 minutes ago, goldbug9999 said: The young are their own worst enemy, they have chosen to be more concerned about trump, refugees and EU fruit pickers than about their own prospects of jobs and homes. Don't forget the vitally important #Metoo. Quote Link to comment Share on other sites More sharing options...
Option5 Posted February 16, 2018 Share Posted February 16, 2018 Article in the times today: https://www.thetimes.co.uk/edition/comment/danger-of-the-housing-market-debt-zombies-2l87jk6ph Unfortunately I still get the hard copy so I cant post it all on here. If you look at a chart of house prices going back to the 19th century, the first thing you’ll notice is that for most of that time they didn’t do all that much. The line looks a lot like a hockey stick: a long period of nothing, followed by a sudden upwards lurch after 1970. The scale of that jump is hard to get one’s head around. Consider that the average wage today is about 26 times what it was in 1970. Share prices are about 27 times what they were. Over the same period the average house price multiplied by 49 times............ Quote Link to comment Share on other sites More sharing options...
Social Justice League Posted February 16, 2018 Share Posted February 16, 2018 The best thing the young can do is stop consuming and borrowing money. Work a little as possible and pay practically no tax. Quote Link to comment Share on other sites More sharing options...
spyguy Posted February 16, 2018 Share Posted February 16, 2018 33 minutes ago, goldbug9999 said: They could change that if they were coordinated behind some party with coherent policies, instead they are choosing corbyn. This generation prefer virtue signaling to looking after their own interests. Err, thats the nuclear option. Quote Link to comment Share on other sites More sharing options...
spyguy Posted February 16, 2018 Share Posted February 16, 2018 6 minutes ago, Social Justice League said: The best thing the young can do is stop consuming and borrowing money. Work a little as possible and pay practically no tax. You mean do what their elders are doing? Quote Link to comment Share on other sites More sharing options...
Big Orange Posted February 16, 2018 Share Posted February 16, 2018 Many under 35s are taking it like a bitch and seemingly most are still falling for the charade of today's poor economy, when it effectively died way back in 2007/8. Quote Link to comment Share on other sites More sharing options...
Guest Posted February 16, 2018 Share Posted February 16, 2018 3 hours ago, goldbug9999 said: They could change that if they were coordinated behind some party with coherent policies, instead they are choosing corbyn. This generation prefer virtue signaling to looking after their own interests. Which party would that be? The Conservative party's main policy relating to housing is Help To Buy, proving that they are either totally economically incompetent, or complete & utter liars. The nature of a FPTP duopoly means that there is very little democratic choice. At least Corbyn looks to be a once-in-our-lifetimes chance of a LVT. Quote Link to comment Share on other sites More sharing options...
Big Orange Posted February 16, 2018 Share Posted February 16, 2018 The Tories have burned most bridges they had in sustaining themslves as a relevant party in the medium to long term, Corbyn is a loose cannon and his radical cronies are wearing the dead Labour Party as a skin, but that's the culmination of Blair and Brown hollowing out the original Labour Party, turning it into "Blue" Labour (a kinda inversion of Trump and the GOP). Quote Link to comment Share on other sites More sharing options...
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