Wednesday, Jul 22, 2009
A more realistic view of House Prices
BBC News: I would pay £3,000 for a big house
Just a fun article from some schoolkids but nice if it came true. £3k for a big house, £2k for a medium house and £1k for a bungalow.
Also when asked about Alistair Darling, one girl said "I heard of Darwin!!"
Posted by lenny @ 03:16 AM (687 views) Add Comment
11 Comments
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1. phdinbubbles said...
You beat me to posting this one lenny.
"Rep: Do you know an average house costs about £150,000?
GB: Now I know why my mum keeps on saying that we are poor! "
Nine year old shows more financial nouse than (what seems like) 86% of adult population who would brag about their £150,000 house.
2. bluebeach said...
Our children's future has been ruined by our own greed and self-serving. They will adapt or the system that serves them will adapt. Time will tell.
3. george monsoon said...
Absolutely hilarious.. these kids have their heads screwed on!
4. peter_2008 said...
Best Quote:
GB: A Pin is a code that you put into a hole in the wall. You put your credit card in and then you get your money out.
Rep: What happens if you've got no money in there?
All: I don't know.
CP: Then you have to work until you've got a lot of money.
It took 10 years of Nulabo and Flash Gordon to turn a generation of bright and intelligent kids to something stupid and irresponsible. My heart hurts thinking what is going to happen to these kids, when they have to pay 60% income tax on a minimum wage to pay off their parents' debt.
5. george monsoon said...
Question about credit cards.......KA's uncle has the right Idea, but is a bit 2000 and late...
Rep: If I borrow money on my credit card, what happens?
KA: It comes out as a bill. My uncle said one day that he would teach me to be a lady who uses her money properly, so he asked for £1 and said he would give it back, but with a bit more.
GB: If I borrow money off my mum, I wait so long that she forgets about it. But when they borrow money off me, I never forget.
EC: I'm on exactly the same track. I keep quiet about owing my mum.
6. mrflibble said...
Hopefully by the time these kids reach adulthood we will be in a better state, I wouldn't bank on it though...
For a long time I have really felt for school/collage/uni leavers, what a world they face. It was bad enough in the property boom years, when they didn't have a cat in hells chance of buying and were forced to rent for years on end. Now they have the same grim prospects for employment, but the kicker is, the powers that be are still trying to keep house prices up while unemployment rips through the economy.
7. uncle tom said...
I would hope that for these nine year olds, the hellfire and damnation will be more or less over by the time they come to set up home.
Although it's very simplistic, there is quite a lot of truth in the notion that what we are seeing today is the consequence of the 'baby boomer' post war generation having excessive expectations of those born in the seventies and eighties.
We are at the end of an era now; a lot a perceived wealth has evaporated, and a lot more will go the same way. Many of those who thought they were set up for a comfortable retirement will realise that they will have to continue working.
Government will eventually come to realise that an economy that has been living on air, cannot continue to do so; and that re-arranging the deckchairs on the Titanic is no substitute for building lifeboats.
I think it quite likely that we WILL see runaway inflation, and while that will be very stressful, it will also do much to destroy debt.
By the time these kids grow up, a big house might cost £3m - but the average salary might be £1m..
8. 51ck-6-51x said...
UT said, "I think it quite likely that we WILL see runaway inflation, and while that will be very stressful, it will also do much to destroy debt."
- how very likely given the state's financial position.
9. Happyrenter said...
too optimistic
runaway price inflation - yes
runaway wage inflation - no
standard of living to move closer to the world average - most probably - ie lower
10. george monsoon said...
Well said Tom
11. mander said...
Whether our children will make the same mistakes...
But this is a joke after all this inflated wealth you are teaching the children not to take on debt? Who is going to pay? The pensioners?