apom

"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.

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?

Essentially a whole bunch of teetering foreign currencies have a whole bunch of people desperately looking for a safer place to put their money, Are house prices safe? no. clearly.. no, But are they safer than the Chinese Economy? The worlds economy is due for a second shock very soon. and wherever you like it or not there was a crash in 2009-2010.. I certainly saw it in the price I paid... Did it fall as far as I wanted? No. But it was the point I had agreed to myself I would be happy to take the plunge. I know I did the right thing for me. I have no regrets. Work out what is right for you. not some pipe dream. But a realistic one. set that and be ready. Get your ducks in a row now. as frustrating as this mess is. as much as you hate the unfairness of it all (as you should. it is unfair).. but be ready. When the next dip happens... if you are not ready and you miss it. you will hate yourself.

I had not been on here for ages.... I did leap on the downturn in 2009-2011.. took a deep breath and jumped on. I did my best to prevent the downturn and the collapse of the economy. But with the knowledge of it's inevitability I did also manage to prepare and make a little bit of money.. Which allowed me to buy. New posters would be interested to know that HPC was discussing the 'Credit Crunch' (we did not have that moniker at the time) many years before it hit.. many years!

It has been quite a while since I have contributed... The London market is key to me. I live and work in the town and this maelstrom, this chaotic place is going to be my home for a while. I bought over three years ago. I did what many do and for years I followed the expanding prices with concern and frustration. Then I did what few do. I found a place that no one was talking about yet. A place still affordable. Look to the edges, but track the transport links. Look to the South East. The Overland is fast and travels to Cannon Street, Waterloo, London Bridge, Charring Cross. I found a village in zone 6, catchment area for two Grammar Schools. Easy walk to the station and all the pubs and restaurants you would want. and I paid £210,00 for a three bed terraced house. Don't follow the sheep... you are here because you don't.... Get there ahead of them.

We are facing the same global debt catastrophe!

I bought on the edge of Kent/London back in 2012. Typical three bed Victorian terrace in a quaint village... I paid (Then) £210,000. Zone 6 and half an hour to work. I was lucky with my timing and the price I managed: But I was still a 39 year old man on a good salary buying what should be a starter home for a 20-something. They peaked from that price to almost £100k more over the next year, but have been coming back down since.

With 'Brownfield' sites opened up surely this would have a knock on effect: Will we lose the almost criminal local councillors control. Would we see all land opened up.... Would this make the speculation on development land a loss leader. Would groups of people be able to purchase land far cheaper and build their own damned houses!

I must admit, if you split the salary in £25,000 each that is an individual take-home of: £1,651.55, or a joint of: £3,303.10. It has to be possible to put £200 away a month, in a year £2,400.00.... and that is saving just £100 each... Not a great example of people on the breadline...

Devastation Dave: remember kids, don't do drugs... I just liked the cover...

Shh! These villages in the South East are a well kept secret..... If too many people hear of them and how affordable they are there could be a rush, prices would be driven up and as I have bought a place that would make me money... Wait, What? what have I become....

Okay, I did not save that much, I saved 30% on peak. Congratulations... I have a colleague who bought in Ireland, a new development that was marketed at £300,000 plus and he got for less than £100,000.. only a small development to.. there are huge wins out there.

South East, look at where Kent borders London, you can still get cheep(ish) oyster into London and you will get more stations to hit. Most of the South East can hit Canon Street (Heart of the City) London Bridge, Chancery Lane or Waterloo East. Commuting is easier, faster and you will get a seat. Better schools than all but the most highly prices South West areas (South West London) and house prices are a fraction. I now live in a lovely village which gives me a faster commute then when I lived in Kensingnton renting

Thank you it has been quite a few years... I stopped posting when the banks collapsed, like most on here we may have called the crash and protected ourselves from it as much as possible, but it was interesting times there for a few years...

I don't think I will be remembered here.... This site kept me sane for a few years..

I remember the early days of this Forum, I was a young professional working in the South West and after a few years watching the impossible happen I relocated to London. Now, I won't track down the threads, they're there in here still, but the economic crash of 2008 was predicted here from the very earliest days. This is not a website full of futile rants, it is an educated and informed forum with some very accurate and well considered points. The market has crashed, volumes selling so low that it is all a shadow of its former self. That is a crash. Prices have dropped in a lot of areas to. I was fortunate, I watched an area I liked and found a property.. Prices had dropped tens of thousands and chains were failing so often that I was able to step in and offer a very low bid that was accepted. This is not what I had hoped for, I made savings that I am very pleased with, but I wanted a balance for everyone. It is not without hope, look at the area you're in and see what it is that you can afford, in your own macrocosm you might find a bargain. They're out there more than the press would have you believe. Good luck to you all.

Back in the days before any of us dreamed just how hard 'New Labour' would drive the economy toward destruction and then watch it burn... Credit tightening was a phrase bandied about since 2004 on this site, that it would run unconstrained lead to a full economic collapse of most of the civilised world would have shocked us all. Thought I would stick my head back in this site and have a look

There are many flats in London and you can have two one bed flats less then a mile apart with one worth multiples of the other. What right-move are saying is that the top end flats, bought by top end earners who have seen their incomes slashed are now being dropped onto the market, shoving the average asking price up for one bed flats whilst on an individual level the flats are values are dropping.

No, you should prepare yourself for a lifetime of fun... grab that £7.5 thou and blow it on a really cool party somewhere warm... Responsibility is for those with little imagination....

Chaps, this article was from Tue Jun 26, 2007

I did some calculations and in the last decade i have spent £800 on cars, less then I have spent on shoes in the last year. The best deals are on bikes, for most an indulgence, never as popular in the winter and last summer was horrendous... Couple that with the credit crunch and nagging wives and you can save many, many of your increasingly worthless pounds.. * i now live in london and to be honest i have not had a car in a couple of years..

What do we know? The greater economy fails when house prices hit that level, the money simply does not exist for more then a fraction of the housing stock to change hands at that price As house price increase or maintain, that fraction of houses that have exchanged at the higher price increases to the point where it all collapses.. fractional reserve lending works to a point. but not where there is no accountability or responsibility to manage or contain it. But, borrowing that much of your future salaries requires that a good proportion of that money exits in the economy now. If you want to see how much, artificially lower ir's, fail to regulate banks light the touh paper and sit back... or ask brown who has already done that...

damn right, brown and his economic treason ballsed up my plans mid twenties on.. but i took a few chances, had a few adventures... depressed? i have been shocked and outraged and furious and gutted and so frustrated i could scream... I will not socialise with or humour anyone wh would vote labour... you want something for nothing scum, do not try and steal the future of the chiodren to get it... and then whine when you destroy the economy for your efforts. at the very least they need sterilising.. the sickest minds, given an eternity... could not come up with a slow enough screaming death for that b4st4rd brown and his government. This was the only possible outcome... despise labour.....? yes... depressed...? no... my life is good, no matter what you try brown I am still happy... but very, very angry at you..

hell, i am an IT contractor in london... contract finished friday two weeks ago, email popped into my inbox about a role at about 4:oopm on the last day from an agent with a role... I bounced my cv across and had an interview on the monday.. started a week later.. actually that was quite lucky.. I was looking to upgrade my timex to a brietling.... seemed a little much to spend on a watch... So just bought a zxr750 for £1500.., my suits are paul smith.... but once a year he sells them for £100 each if you know where (article in the metro....) but i am an ar5e its christmas....

Pub/restaurant wise you should not forget that it is now x-factor season.... Of course, I am personally way too sophisticated to be drawn in to such trashy tv... ahem.. But, I have squirrelled away money enough to keep me and mine for six months should the worse happens... Those with mortgages so high they claim that 6% is not manageble and have not enough money put aside to last them a month should the worse happens leave me cold. But, what strikes me more and more as this progresses is the scale of the deception. The bbc, the governemnt, the BoE and the FSA, the CML.... All these official bodies have been activly lying to the people durring the boom. Economically, we knew that the boom was not sustainable.. We knew that fractional reserve banking combined with IR's manipulated to ignore crucial areas of inflation and to encourage borrowing.... An entire economy based on this resultant debt and the trading in it whilst only a fraction of it sat within the banks and the customers headed toward the innevitable.. We knew what would happen... But so did the government, the bbc... the rest of them. Why would they do this?