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Posts posted by miko

  1. there are more people working for jobcentre plus than jobs available. its allways been a crock of shit. add in the private firms paid to give so called training courses to the people that cant afford to work and its a right old scam going on. just like schools and council and hospitals, the first priority is to look after the people that work there, the customers come far down the list.


  2. You could be right. If things had been different and I was in a position to buy, I still might not have bought in 1994, without knowing what was ahead for house prices.

    Certainly I would have been in that crowd hoping that prices didn't go up, given many of us need to rent, so we can take different jobs as they come up around the UK.

    The main reason is this. I would have hoped property will never go up. Or at least only in pace with wages, instead of liar loans and your people like your sister taking on ever more debt to buy, beyond any level of sanity. It sounds like you glory in the fact they rose so much after 1994, completely out of control leading us to all the problems we have now, with you seeing so much of the gains.

    Those renters during the boom who hoped santity would be restored sooner, having compromised for longer. Now to be rewarded by losing all their savings and you keeping your house, you father keeping his house, and sister keeping hers whilst her debts are wiped away. If an Armageddon went the way you see it going.

    I'm not an expert on the timeline of the last major crash, so might have got the dates mixed up. So it was 86 when you bought from a seller in difficulty? Ok you might have then lost some value, but saw gains later. Still you definitely were not campaigning for savers to be wiped out when you bought, from a seller in financial difficulty no less.

    You are so wrong and prove it everytime you post .

    I did not say the growd who hoped prices would never go up I said the growd who were sure they NEVER WOULD.

    You have read many of my posts but not all and you prove this by what you answer about what I have written .

    Very Very wrong about 86 it was not a market flooded with sellers in difficulty it was an ok market just before the 80's boom .

    No Glory about prices going up over the years READ SOME MORE OF MY POSTS .

    And then answer the QUESTIOIN , by the way I bet your late 30's maybe even 40+ you had your chance and missed it didn't you , come on own up and have been kicking yourself ever since.

  3. And I've no idea how I will explain to my younger siblings that all their savings have been for nothing. All their compromises as I urged them not to take on big mortgage debt for so many years. Whilst you and all the debtors get away untouched, keeping all the housing.

    You really must be in panic mode , the man who laughed at the repossessed and was so co-k fking sure that he would buy a house at a rock bottom price has suddnely woken up to the fact that the situation he has been *****--g over for so long is now maybe so bad that everything will go back to zero , debts will be uncollectable , houses worthless and savings gone.

    How old are you ? You have younger siblings that are old enough to buy houses and your the big brother , no spring chicken are you ! did you miss the boat ?

    Yes it will be difficult when the younger siblings let you know that they beleived you knew it all and now they think you know fk all.

  4. What was wrong in post 44? Was it my revealing you bought your first home really cheap in the trough of a crash, from a desperate seller who had to lower their asking price?

    I've got a good memory.

    I wonder why you were not suggesting such solutions with savers being wiped out as that crash began?

    1990-94. Were you calling for savers to be wiped out and debtors to see total debt forgiveness back then? No, you bought a house cheap, and actually from some under threat of repossession.

    How would you feel if you'd been wiped out back then and debtors who could not afford their repayments to all keep their homes, thus keeping prices out of your reach? If that occurred, and no one was ever allowed to lose value in housing, you would have had a life in a HMO room if it continued that way, instead of reaping all the benefits of buying at a crash low point followed by so much house price inflation.

    Now however, you're alright, having enjoyed the best run of things, and would do nicely as a family if savers were wiped out, with 3 houses, and sister's debts wiped out.

    It's not enough for you homeowners have already seen interest rates dropped to such lows, in an attempt to stop housing losing too much value, together with QE to keep failing businesses alive and thus people in jobs, masking the true extent of the crash savers were all prepared for. Having, you know, saved to buy at lower value, whilst compromising and renting.

    Or was it for suggesting your father is pottering around in a large house worth x100 he bought it for, which you expect he'll keep hold of post Armageddon. Or asking if you planned to BTL it, after savers get wiped out.

    Any solution involves debtors suffering far more than savers. Savers may feel pain but debtors have to feel it more, and it shouldn't leave owners who own outright in a position where there homes are actually worth more because all the savers have been destroyed and debtors have free houses.

    So that is very different from the way you described the way you see it working out. With savers wiped destroyed, and the debtors getting their debts entirely forgiven, those with big mortgages getting free houses, and home owners at the top of the pile, which includes you and especially your father, not suffering much by way of loss.

    Your sister's big mortgage repayments cancel my years of savings, with all the rent I've paid on top? Irrational.

    I bet if had been able to buy in 1994 you would not have had the guts , you would have been one of the

    " property will never go up again growd "

    Only read the first few lines of your tripe and scanned it to see if you had answered the question yet ? Answer no. As you have got such a good memory I won't ask the question again but will just ask you to answer it again . Did read the bit about saving home owners as well , I bought my first home in 1986 so instead of seeing my gains lost i would have kept them .


  5. I've had to build up those savings whilst also paying rent. Refusing to sign up to ever bigger mortgages as house prices carried on going up and up, because of those willing to take on debt and pay more.

    Your sister's mortgage repayments, or repayments anyone else who signed up to a big mortgage, do NOT cancel out the savings of someone who has been renting for years.

    When the non home owner who refused to pay ever crazier asking prices, compromising in so many other ways, such as renting in a shared house as I do.

    The debtors debts are their own. Their debt repayments on the mortgages they took out, do not cancel out non home owners savers.

    I read complete irrationality from you. Expecting you to keep your own house, you elderly father to keep his house, and your sister to have her debts wiped clean and keep her house. Whilst others who've played it as straight as they could, didn't buy at the trough of a crash like you did and could never buy at value, get wiped out as the debtors get free houses.

    Let's leave it at that between us, ok.

    No i won't leave it at that you were the one who first got very personnel in post 44 . Will ask you again


  6. There is no completely 'fair'' way to save the system but how about this idea?

    If the banking system implodes nationalise the whole lot. Work out the total debts of everybody in the country. Create an equal amount of money. Gradually give this money out to the population on an equal basis (say over a 10 year period to try and ease the inflationary spiral somewhat), but insist that it must be used to pay off any outstanding debts a person may have.

    So say the first year everybody gets £20k.

    If my mate for example owes 200k on his mortgage for a 4 bedroomed detatched house he has to use this money to cut his debt to £180k. (the money going to recapitalise the banking system).

    If I owe 20K on my small terraced house I pay my debt off and I own my house outright.

    If you have no debts you get 20K to add to your savings.

    How about it?

    I don't know if that would work m8 , however at least you have some idears , which is a lot more than can be said for Venger who seems to be very fearful for the money he has saved . He laughed at the repossessed but does not like to hear he might lose his savings.

    What i do know is that no matter how many bailouts we have things just get worse not better.

  7. It's worse that that. He's 48, bought in the trough of the last real crash sometimes around 1991. Has done pretty ok at work during that time. house price inflation, and owns outright. His elderly Dad owns outright too, probably pottering around in quite a large house by himself. His sister took on a big mortgage, which given his own position and finances, with a healthy pension, he could help out if she lost her job. And they would probably have an inheritance due when their father dies, with that house to sell.

    Instead, he sees a situation where all savers lose their money. Then people who own outright keep their houses, everyone with a mortgage sees that mortgage extinguished and keeps the asset, and all other debts are written-off.

    What happens Miko, to your father's house should he die just after this Armageddon? The one he's owned and seen rise in value about x100 times. Do you rent it out maybe? Put it on the market at £3,000. Maybe I could try and save from scratch to buy it, having just lost many tens of thousands of pounds of savings.

    And Miko, in the early 90s crash, you actually bought at the nearest low point from someone who was in financial difficulty and was forced to sell low. I know you said you didn't tell the EA that you were deliberately looking to buy from someone in such a position, yet that's how it worked out for you.

    All those people who lost their homes, or were forced to sell them at lower values than previously they thought they were worth, brought down the value of homes. Even for those home owners who were not financially struggling, because the lower sales prices being set brought down the value of their homes. It allowed a new generation to upsize as well, bringing those houses within their reach of affordability.

    I don't care for Miko Armageddon at all. You had the best of it on the way up, and the way you see it working out, you get the best of it again. Together with many big mortgage debtors. Whilst savers, well they get utterly done in, with non owners having already had the pain of it for so many years against house price inflation. I can't see myself or many others just peacefully accepting this new world you describe.

    You have got a bit of a problem PAL. No let me correct that a BIG problem !

    Don't know how many times I have said it but will say it again , it is not what I want , it is something that is going to happen if they cannot sort out this financial mess.

    Its not my Armageddon it is the worlds . Now how many more times am i going to ask you HOW ARE THEY GOING TO STOP IT ???

    You say you have tens of thousands saved well my sister has paid that in mortgage payments so one canncels out the other dosn't it .

    I hear FEAR PANIC AND JEALOUSLY from you today .

    NOW HOW ARE THEY GOING TO SAVE THE STATUS QUO ??????????????????????

  8. Not earning especially good money. Much monk type living towards building savings over the years, with the aim of buying a house. No, I don't want to buy an overpriced house. That's why I'm on house price crash. Waiting for much better value to come along, to buy with little debt. Wanting stable prices and not looking to profit. Just to ensure I'm not buying at a price which is outrageous or too difficult to service the debt. Yes bring on the repossessions from those in hopeless positions and not making mortgage payments on their debts.

    Any solution involved debtors suffering far more than savers. With savers having opportunity to acquire assets from the debtors at distressed prices. Those with savings are generally smarter than those who are in heavy debt. Makes sense for any future recovery the savers are in control.

    Not for debtors to be hugely rewarded with free housing, and savers wiped out.

    You suggested I was 'sick in the head' for saying those Halloween costumes at that law firms repo office were funny. Well your solution is also sick in the head.

    Your Dad keeps the house he bought decades ago, you keep your mortgage free house, and presumably your sister gets her mortgage wiped out and keeps her house. Whilst savers are told tough luck you can begin all over again. Savers who now have nothing can hike over to build new houses in some remote field hundreds of miles from anywhere whilst you and the debtors keep all the prime property. How generous. Not going to happen.

    Buying is a big deal. More so if you're outbidding savers. You don't just keep the house if your boom job ends.

    Twats = smarter savers who are renting.

    This time the people who told them to rent wait were right as they took on debt of £100K+ for 1 bed houses and a dollop of extra MyHomeBuyHelp loan.. You don't want the savers to profit from their refusal to join the frenzy. Instead you want a big default and these people to not suffer loss, together with no loss of ownership for your Dad who owns a prime property, and no loss of ownership for you, who at around 55 years of age also owns outright.

    I did not say i wanted a big default listen to the words i said that there is going to be a big default and in the long run many people will be better off.

    As i said and have asked you time and time again now the system is not working in its present form how can they get it to work ?

    You want to keep it how it is as you have saved your money and want to buy a house at a price comfortable for you but how are they going to save the system as it is ?? now answer the question .

    My theroy is it is not going to carry on as it is as it is un workable .

    Yes your saving will have been for nothing . Yes my old man keeps his house I keep mine , my sister walkes away from her debt and gets her house free. NO not quite fair to people but so much of life including the present system is not fair or do you think it is ?


    By the way im 48 not 55 .

  9. Firstly, I'm not making any assumptions about your position on those who bought with big mortgages, and your refusal to put any blame on them, with your 'they just wanted a home' stance. I've read that from you many times. Yes they wanted a home, but so did savers they outbid. And I know you're anti-repossession. You've claimed savers were smarter but don't want the borrowers to lose homes they can't meet payments on. Their claim of debt on a property is superior it seems, on the asset.

    So, having read your post a few times, I think you are suggesting this.

    After a massive default house prices would revert to say £3,000 or equivalent in a new currency. Savers would be wiped out. Existing owners and big mortgage debtors keep their homes. Savers begin again with nothing.

    Apart from that being totally messed up given so many of the savers have already put the effort in, has it occurred to you what wages might be in your new world? It would not be a case that all savers beginning again only have to find £600 or £3,000 to buy a home. That would still be the equivilent in wages of like £300,000 in your new world.

    Especially when all the existing owners and big mortgage debtors pre collapse are allowed to keep their homes, as under your system, with no cause or pressure to relinquish their ownership in your new world.

    Your making plenty of assumptions ,

    Yes many did just want a home and they have got caught out . That said the system does not work does it !

    Im not anti repossession at all , tell me where i wrote that ?

    Also never claimed savers were smarter where did you get that from ? If you read my post today I said neither saver or buyer was right or wrong , would advise you to read the posts again .

    After a massive default yes savers are going to be wiped out as they have put money into banks that cannot honnor those savings. That is not my fault , your fault or the fault of those that have borrowed instead of saved , it is just a fact the liquid cash is not there.

    If those that borrowed see their debts wiped out yet the value of their house erroded then they would have also lost out as like the savers they have been making a big effort to service their mortgage up to the financial system imploding. So they put effot in just like you .

    No one knows what wages will be , but they will be in line with house prices and living costs if the new world sets out to make sure people can have a decent living standard for a weeks work, like it was just a few decades back. By the way it is not my new world it is going to be a new world whatever happens as the current system is heading for collapse.

    You made a lot of assunptions about me , now im going to make one about you.

    You earn good money have saved hard and want to buy an overpriced house outright or with very little debt. Once you have done that you HOPE that the value stays high and you do not give a fk about anyone else who cannot afford to put a decent roof over their heads . Right or Right ? Someones else's repossessed nighmare would be an added bouns for you !

    Well news for you that is not going to happen as they system is fked , did ask how you think they can fix the system to keep the status quo ? But you did not answer that one yet instead you just had your rant when savings being wipped out was mentioined . Why have you not answered ? is it because you have no clue how they can fix the system and the truth is to harsh to contmplate for you ?

    Just like the one who overborrowed you saved for the same reason the reason is you thought it would be best for you maybe it won't be , as the system is fked . Now tell me how they are going to fix it ?

  10. Saved me bothering. Cheers.

    Anyway, pub time.... :)

    Yes go on pop up the pub , instead of answering what i asked .

    Remember it was you who was in tears on this site a few weeks back when you got outbid on a small flat in London , do you not think that was anything to do with this broken system . Ten years back those types of flats were bought by postman ect . The system does not work for you and many others and the savings you have are not going to bridge the gap , so quite honestly in this system your cannot win savings or no savings . How about being able to buy that flat with earnings and never having needed the savings ?

  11. I know you're firmly on the side of those who bought houses with big mortgages. 'They just wanted a home' and stuff all the people who wanted the same but were saving and refused to max up on debt. You'd prefer savers to buy a room in a HMO at same price some fools maxed out of a nice semi detached, rather than borrowers losing their homes if they can't afford their repayments. With that anti repossession stance of yours.

    And all the other excuses with you. The FTBs listened to what they heard on the property porn shows or what their parents told them, who also benefited with HPI. Ramping their own stock. They're innocent.

    The free house is worth more even then if savers are left with nothing. You're not getting away with your paid off house and debtors wipe out their mortgages to keep free homes. A free for all is better than what you're suggesting, including with the power of force.

    The people you feel sorry for most, the big borrowers and those with big CC debt kept the ponzi going, not most of the savers. Many of who have already had to see house prices outpacing what they could put towards savings for many years.

    Stop making so many assumptions .

    I can tell that you saved while others bought . Well neither got it right and neither got it wrong.

    We are all in a system that does not work anymore . The cost of housing has got way beyound what people can afford and it has strangled the whole world economy.

    The house my Dad lives in which is on a tiny plot of land just outside London was first sold for £600 in the 30's . Since he bought it it has gone up by about 100x in 50 years . We are now in an advanced age of tecnology and yet people cannot afford to live . People whos parents COULD. Something is wrong very very worng and it cannot carry on as it is .

    As for you you chose to save , have heard that you wish to buy a house with cash or very little mortgage one day . What is the difference between you saving like a madman for x years and paying way over the odds for a house or seeing your savings wiped out and being able to buy a house for what it is really worth ( about 1000 man hours is often quoted on this site ) excluding the land which could be bought for a few hundered £ if they did not keep it horded ?

    If you want to see the status quo stay as it is fine , but tell me one thing how are they going to fix this broken system to keep things as they are ?

  12. It won't be 30 hours, you know it and so do I. I'll be surprised if it happened at all

    Getting personal doesn't answer the point, rather than taking a selfish standpoint and begrudging people without work I actually think a surprising number would benefit by giving some of their time to more vulnerable people and causes as much as those they help.

    Who could be more vulnerable than a young unemployed single person without any help from family and relatives ? There are plenty of those people in the group who are being told to do voluntary work to get their benefits.

  13. I hope it will be fair in the sense that you lose your house which has no mortgage, in this clean slate. Or is it just those with cash savings who get wiped out in this outcome of yours, and outright owners and those with mortgages who outbid those saving deposits are protected from losing anything?

    The house would be worth jack sh-t . CAN YOU UNDERSTAND THAT ?

  14. Corned Beef was sold out at my ASDA today. Weird that.

    Only good if you are a debtor. Free house and free credit never to be repaid.

    Businesses would go bust not just banks. Mass unemployment as a result. And social unrest of a scale we have never seen would follow as basic food stuffs and fuel would become black market goods.

    No good would come from it. You can't just wipe the slate totally clean and reset to zero. Not without blood on the streets.

    Yes people are going for the cheaper stuff. I was going to buy a piece of stake yesterday but opted for some Ox tail instead ( even that was over £3 ) .

    What you describe is going to happen anyway in some form or other sooner or later if we carry on as we are . They cannot fix the system in its present form . The debt that has built up both govenment and personell is unpayable . We already have mass unemployment and the people the money is being taken from to pay those unemployed have not got it anymore while their taxes rise , their wages fall and the cost of all the essential goods they buy keeps on rising .

    Yes good if you are a debtor but bad if you are a saver . Someone loses someone has a result , the free house would be worth jack sh-t thought and the CC debt , Well that was run up keeping the whole ponzi going.

  15. This afternoon I visited Basildon, Rayleigh & Chelmsford (Essex)

    most noticably to me apart from not being able to even walk the street due to crowds in every direction, was mobbed mobile phone shops and the bicycle shop was full of a delivery of boxed bicycles - not even Xmas yet!

    Well I live in Essex and the housing market is dead . There will always be a few exceptions and some stuff will always sell , but overall it is dead . Rents rising will be because no one is buying ( always happens ) . As for the shops well it is Xmas so they will be busy .

  16. Wouldn't think armageddon was on the cards with the asking prices some of the flats on my watch list sold for these past 2 days, rents being hiked even the houseshares, plus the town centre shops are jammed full like pre-Xmas Saturdays, jingling cash registers all round

    Where is this ? I wish people would quote where in the country they are reffering to when they make these statements.

  17. I reckon things are EVEN WORSE -- FAR, FAR, FAR WORSE than we even remotely imagine...... The whole world economy is riddled with cancer --

    IT IS ALL TOO LATE...... Prepare yourselves for a really nasty, nasty forseeable future.... :angry:

    I totally agree with you first line , there is no way out of this mess by carring on as we are at the moment . The problem is not going to just reverse itself , the debts are not going to dissapear . They cannot be paid here and in Europe by just putting up taxes and making a few cuts.

    However we might have a nasty time ahead for a while but after that things could get very good. By that I mean if the whole thing implodes and we go back to square one start again i.e . savings wiped out debts wiped out the banks told to go and fk themselves the future could be good. If the whole world Capitalist bandwagon collapsed and we had to change the way we do things once and for all in a better fairer way many people might end up with much better lives than they would have under this system.

    It would be a bit like someone going bankrupt , their debts are written off and they begin again. When this happens peoples lives are less crowded by the trappings of bling ect but the debt has gone once and for all . Take this on a country or world wide basics and we could all start again . The rich would be wiped out and we could all have a much better fairer society.

  18. Exactly. I think the problem is the 70's mentality is ingrained in a lot of people i.e. an association between cost inflation and wage inflation. However the situation now is very much different - unions are much weaker, offshoring is rife and we have plenty of eager immigrants willing to work for a pittance - these factors will ensure wage inflation stays low and thus won't take the pain out of falls in house prices as some expect.

    + 1

  19. Out of all the financial products ( loans , mortgages, savings plans, isa's , share saves ect ect ) in my life the pension from the company I worked for for 18 years is the one thing that I stuck to and did not change mess up or try and alter .

    I signed the forms on the first day there and they took the money from my pay each and every month. It is a good scheme and when I was made redundant part of our package was a 40% up lift on the money in there . Touch wood it is doing well and I can get my hands on it when im 55 in less than 7 years time. When i first went to work at that company I was mid 20's and did not take much notice of pensions ect as they were light years away. I never realised how much was in my pot untill I was made redundant .

    If I had been given the option to withdraw the money 10 years ago to buy a house would I have done so ? The answer would have been YES YES AND YES . As houses were only going one way which was up and retirement was a long way off .

    Today after seeing the last 5 years , the job market which I hope to be able to leave in 7 years time, the financial fk up we are in , I am so gratefull that I was protected from myself and never allowed to withdraw the money .

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