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House Price Crash Forum


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Posts posted by Freeholder

  1. £500 million folly! And we have firefighters striking because their pensions agreements have been ripped up to save a fraction of this cost. How do stupid ideas get to the point where 500million quid is squandered?

    This one wasted £2.7 billion


  2. According to the Economist graph houses now cost about two and a half times as much in real terms as they did when I bought my first house. I recall I borrowed less than three times my salary. My wife was earning as well. We had enough money to live rather than just get by. Pure luck on my part of course and I would love to see todays young people be as lucky as I was. We seem however to be cursed with one government after another too demented to see this simple truth.

  3. This has already been happening for a long time. Just thinking about offices I have worked in the reduction in skilled and unskilled clerical staff is huge. I used to be employed making alterations to engineering drawings, now those changes are made on a computer in a fraction of the time and to a better standard. In another job if I needed a document from our system I phoned a clerk who retrieved it and brought it to me. I wrote letters in longhand which a clerk took to a typist. A specialist clerk was employed just to look after the filing system. A trained man operated the dyeline printing machine.

    All these jobs are now replaced by technology.

    It has not caused the end of the world.

  4. People thought that no harm would come to them right up until they arrived at the concentration camps. I am not meaning to sound melodramatic as, frankly, that would be an insult to many millions. But I genuinely fear that the massive debt that the UK has will one day take this country down a dark path.

    Look at tonight's programme - most people do not realise how fecked they are re their mortgages and they know nothing of ghe state of this country's finances. Who will they look to blame when it all goes gits up.

    On BBC 4 TV now is 'Hotel Folly' about UK house prices just starting.

    That reminds me, must clean my gun.

  5. ^ defo this.

    I've been having lots of heated arguments (I'm living at home) about not buying now. It seems to me that my parents are more likely to appreciate it if it's being reported in the mainstream media (and Panorama is a 'reputable' programme).

    Still, that said, doesn't solve the problem. I want a house and I want it now so I can enjoy living a little. But, equally, listening to the bloke who got repossessed in Ireland helped me manage my emotions of not getting to eager to run in and get burnt...

    It baffles me how so many of my generation can be this ignorant. I can remember what I was earning at the time and what I paid for my first house. I know that relative to todays prices and wages my house was very cheap. I tell the young people in my family 'rent and let the landlord take the downside risk'. I feel for them though. I enjoyed buying my first house and setting up home with my first wife. I want them to feel as good as I did.

  6. Can you give us a precis?

    Found it. But really? What does that really mean? Especially against a backdrop of wage deflation. As the as article says, CPI at -2% is not unwelcome.

    Personally, still not seeing the end of the world out there.

    This means that every year the value of a given unit of domestically produced goods or services becomes less valuable relative to the currency their debts are denominated in. It is like adding 2% to the interest they pay.

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