Deckard
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Posts posted by Deckard
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21 minutes ago, Twenty Something said:
I guess at some point my kids will inherit the large London house that I have with my partner, and assuming I live a long and happy life, it will be all brought and paid for.
Let's hope they don't inherit your spelling skills too...
Seriously though, do you really think it's fair that the young of tomorrow should wait for their parents to croak, in order to be able to get shelter?
Is it even sustainable, from a social perspective? I think not.
The rest of your post is just pathetic d1ck waggling.
You know nothing about me: I benefitted massively from HPI in the past. It set me and my family up for life. And you are not the only one who has financial assets, dude.
But I don't brag about it here, and belittle other posters for complaining about the state of the housing market in the UK.
It's simply unfair and unsustainable, and no one here gives a toss if you are "at peace with it". Go and brag on Mumsnet, they'll welcome you with open arms.
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2 minutes ago, Smiley George said:
100% this...a succinct appraisal of the current situation.
'sall good, @Twenty Something is cool with it.
Gotta love the sheeple...
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10 hours ago, Twenty Something said:
maybe there are some statistics somewhere that back you up.
Hello? Are you for real?
10 hours ago, Twenty Something said:I don't feel poor either
I said poorer than your parents, which is a simple statement of fact, based on what you said yourself in your previous post.
10 hours ago, Twenty Something said:I'm just at peace with the whole thing
Hence my remark about you being delighted.
But let me ask you a question: if we continue along the current path of neverending HPI vastly outstripping wage growth, how do you expect your kids to be able to afford even basic shelter?
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15 minutes ago, Bruce Banner said:
Now is the time for those who would prefer to be in the EU to campaign for the opportunity to re-join, rather than accept the situation we are now in.
Knock yourself out, Bruce.
Start a new party, get Gina M on board and you are half way there.
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3 minutes ago, Twenty Something said:
The issue seems to be you are a single man looking for a family home? Add in a partner earning even average wage and you have around £650k. This in my view is the shift we have seen over the past 30 - 40 years. When my parents brought, my dad was the earner and my mum stayed at home with us. This was how things were. Now both people have careers, and therefore the cost of family homes has gone up significantly. You might want a large detached house, but you are competing against couples who between them earn the same / more than you, so you are onto a loser from the off. If you look to flats or smaller properties, you will be competing against first time buyers, and I'm sure you can have your pick.
From having brought last year, and being of a similar age to you (early 40's), this was the key to my buying the house I have now in probably a similar area to what you are looking at. As a couple it nearly doubled my mortgage offer, and I now have a family home to hopefully raise a family in. As a single man, a flat would have been the extent of what I could have afforded, and to be honest I have no real complaint about that - why should I be able to buy a 3 bed house?
Executive summary: you acknowledge that HPI has vastly outpaced wage increases over the past few decades, thereby making you and your partner poorer relative to your parents, and you are delighted.
Splendid.
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7 minutes ago, Who am I? said:
I despair.
Beat you to it.
Larry Elliott is the Guardian's economics editor.
I honestly don't know whether to laugh or cry.
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"Prices are high because there is a structural imbalance between supply and demand."
In the Guardian.
I despair.
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32 minutes ago, Who am I? said:
I'm pretty sure we're already there. I'm a first time buyer. I'm in my 40s. I'm only just now in the position I can almost buy something in my area. An area in the suburbs outside a commuter town that's half an hour from London. So nothing special. Not some 'high class' area. Just ordinary family homes, a little above average salary wise as we're in the south east - but teachers, builders, nurses, flight attendants etc. Just normal jobs. Not city finance level.
I'm exceedingly lucky in that I have six figures in savings, earn six figures and have literally zero debt. I'm not normal. I told a friend the other month how much cash I had in the bank because he told me I was looking at houses that were too expensive. I told him I couldn't buy his house. My cash savings are probably 3 times his salary. He almost fell off his chair.
I'm looking for a 3 bed, preferably detached, house in the suburbs. Standard middle class home. I'm in the top two percent of earners and can't afford that unless I buy in one of the poorer areas of town. And even then it's a real stretch. That's insane.
When someone earning in the top two percent of the country can afford less than half of all the homes and flats for sale in a bog standard middle class area then very few people can afford to buy without already having a property that's seen massive price inflation.
It's wrecking the country as I would like to expand my business. That large amount of savings could be used to hire a salesman and a junior engineer. Instead it's sitting in a bank account doing nothing in the hope it can be used on a deposit for a house that my father on a teacher's salary would have turned his nose up at 30 years ago.
Great post, welcome to HPC.
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Duplicate post.
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1 minute ago, dugsbody said:
It isn't just this country, it is global. I'm generally not a "rage against the machine" type of guy but these f4ckers who have sat on this monetary policy for so many years and the older generations who benefited from it so enormously while still slating the young as having high expectations and continually voting for policies that screw them further are going to be in for a shock one day. You cannot continue to exclude so many people from the system and expect them to let the system continue.
We've had our fair share of disgreements, Dugs - but on this occasion I couldn't agree more.
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33 minutes ago, GettingBored said:
The market is dead... Property Log is seeing record usage but the number of new properties coming onto the market is very low. Daily total reductions have dropped from 4k to about 1.5k per day.
I think we're going to go sideways for a while.
Thanks for the update, GB. Keep up the good work!
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6 minutes ago, jiltedjen said:
say your 1 in 10,000 who have come to the same conclusion, worldwide that's a lot of people, Bitcoin is world-wide.
I cant see adoption of digital gold Bitcoin BTC slowing for years yet.Hey Jen, are you a lady ?
If so, you are going against the trend
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2 minutes ago, Trump Invective said:
Chilling in your pyjamas is the new geographic mobility.
On Rishi's dime 🤬
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38 minutes ago, TheCountOfNowhere said:
Most notably, listing volumes have fallen to their lowest level I've seen, they are a long way, down 13% yoy. ( A few people on here have said they've notice nothing much coming on the market ).
Yep, everyone is waiting to see what happens with the SDLT holiday.
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You can smell the fear and anger in their posts today... and now this.
Reddit GameStop booster under regulatory scrutiny
Gill, who goes by the user name “Roaring Kitty” on YouTube and posts under the moniker “DeepF—ingValue” on the popular Reddit forum WallStreetBets, has reportedly made tens of millions of dollars trading GameStop GME stock and options.
As a registered securities broker, Gill is at greater risk of facing civil penalties than a typical retail trader because the Financial Industry Regulatory Authority, the securities industry’s self regulatory body, requires brokers to refrain from making “false misleading claims, exaggerated statements and material omissions” on social media.
Is this the nail in the coffin for the whole WSB "movement"?
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Down to $66.
Diamond hands...
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11 minutes ago, xxxx said:
Unfortunately this is the case. Many of the investors I deal with are loosing their full time jobs and obtaining mortgages whilst still in employment. The market (most areas) is definitely cooling and prices are coming down. Where we go from here depends on the budget next month
Glad to hear you are still gainfully employed as a surveyor, xxxx.
A few weeks back you weren't too optimistic about your prospects.
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15 minutes ago, jiltedjen said:
Its a bit painful looking at the GME share price, all those sucked in hoping to upset hedge funds, ended up meeting their shorts in the end and giving their money straight to said hedge funds.
There is hardly any free open markets, free of manipulation, which are not totally loaded against 'the little guy'True, but I'd argue that only a minority of the WSB crowd are in it to "stick it to the man".
Spend five minutes reading their posts on Reddit: most of them are just chasing a quick buck.
Easy come, easy go...
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45 minutes ago, gruffydd said:
I monitor properties as they come onto the market mainly and there was a downshift that began after Xmas... much lower valuations/asking prices as the new instructions hit the market.
Last week I was surprised - this week even more so... there seems to be a sudden and rather dramatic downshift in valuations-asking prices.
Will it last? Heaven knows... is this the beginning of the great reset for property prices? Is anyone elsewhere in Britain seeing the same re: the prices of properties hitting the market over the last 7-14 days?Interesting... care to post a couple of examples?
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Below $115 now, down 50% on the day.
Whoda thunkit
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11 minutes ago, Peter Hun said:
I've read through some German papers (google translate, if you think I can read Bosch-speak). Pretty much in agreement Ursula von der Leyen is a disaster and the UK have been far more on the ball than the EU. Brexit 1 EU 0. Very few comments blaming AZN, its all on the EU to deliver. Talk of November to get fully vaccinated.
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22 minutes ago, thecrashingisles said:
Despite everything I've said on the subject, I think I've underestimated the impact of Brexit on the EU itself. Now that it's lost its sense of inevitability, it could easily start to look and behave like a overly-defensive Franco-German empire.
Welcome back to the fight.
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3 minutes ago, wighty said:
In January 2000, YOLO traders thought their DIAMOND HAND tech STONKS would GOTO THE MOONand make obscene TENDIES, only to end up as BAGHOLDERS.
Yep.
Also, a few well intentioned but naive posters are forgetting this.
The biggest winners from last week's trading frenzy were market makers, who cashed in on the volatility and volume. In just GameStop cash trading alone, brokers would have seen nearly half a billion dollars in trading revenue last week.The house always wins...
Halifax Jan 2021
in House prices and the economy
Posted
Yes, it's shocking and sad.