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Orbital

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Everything posted by Orbital

  1. cant say its something ive noticed, personally I think we will need more and more rental accommodation as our economy becomes underpinned by short stay migrant workers. Unfortuntely us Brits either dont have the skills or just arent interested in current work opportunities so we rely on people from abroad. My company now employes a majority of oversea workers in both skilled and unskilled positions (tbh they are the only people who now apply for the unskilled roles, and our current grads im afraid just arent up to scratch relative to our skilled Euro cousins) and the accommodation we find them (in and around the London area) seems kinda steady. Quite how the country would cope without the strong rental market I dont know. Of course this is anecdotal evidence (as requested ) and I would be interested to see some real figures, but quite how you'd objectively measure 'over supply' im not sure. I suppose its more to do with how long places are empty rather than how many are empty, which is perhaps harder for us to guage? Having a load of free flats free this week is meaningless if they are all full next week. If they are still empty next year and the number of empty flats is rising however, now then that would be of interest. Would mean some bargin rents too
  2. why not somewhere inbetween? I want to have what I want, and the opportunities to get it. But my wants are few. I dont want to have nothing, but I feel no need to 'have it all' House - yes, car - no, Champagne - no, pack of Fosters - yes, holidays - no, stack of CDs - yes. I think the trick is to understand what you really want and not to want what the media simply tells us all we should have. I'll use holidays as an example, my partner and I actually always have crap holidays, they are stressful, expensive, things go wrong, we tend to keep to ourselves and we're not adventurous, having recognised this I said a while ago, lets not bother. However the media driven missus is still very much 'we have to go on an exotic holiday' becuase thats what we're supposed to do, thats what the TV ads say - you arent really living a full life if you dont go splashing your cash on expensive holidays... is that Thatcher talking? Im sure travel companies, travel shows, celeb travel exploits would all be rammed down our throat whatever system of government we'd had in the past....
  3. Im not convinced by the government conspiricy stories, I think the problem is we are growing up with a spoilt generation whos parents provided everything for them just when they wanted it and they got used to that. The idea of having to wait, save, or earn a luxury item is alien, my generation seems to think they have a right to own a car, designer goods, big TV, house - for previous generations this was a priviledge to be worked for. For some reason I was a saver. At uni I didnt drink my loan, all the student sob stories are crazy, we were all at uni, we all know how much of that money went on luxury items that 2/3 of the world can only dream of. Booze, fags, clubs, drugs, I saw 'poor students' waste on all these things. And then my peers in their 1st jobs went for the luxury flat, bought the iPods, continued to blow £1-200 every weekend, and yes the debts rocketed. So then there's me, I didnt waste my money, I knew my priorities involved preparing for the family I knew I one day wanted, I saved, paid of my debts, and managed to put away a large sum over a period of years for a house deposit. As a FTB i was able to buy a house in london, with double bedrooms, garden, newly fitted kitchen, bathroom, etc so that my kids have a stable roof over their head that they can call home for the next 10yrs or whatever. Im not special, I dont earn that much, I just work hard and save so I can have the things I want. I have so little sympathy for this 'priced out of the market' thing, you arent priced out, you just gotta finally learn the lesson that you cant have everything at the click of ya fingers. You gotta work for it, you gotta save for it. The sad thing is that for every chap like me there are another load who spend lspend spend and at the end of the day, through tax, it'll be people like me who have to pick up the tab when it all goes wrong. Sometimes its tempting to sign up to a few credit cards and just say f**k it but I wasnt brought up like that I guess. Ah well, good luck to everyone, I certainly dont wish bad things on anyone despite my frustrations at my peers expectations to be handed it all on a plate... and on the bright side, the next generation of youngsters is gonna have it even harder...
  4. I think the mistake you make is to think people, the majority that is, buy property for any other reason than just wanting somewhere to live. When I bought, earlier this year, the word investment just wasnt an issue, the words that were important were family, home, stability. Im locked into a nice low interest mortgage so I know that place is mine at a nicely affordable rate (just over 20% monthly expenditure). I know that my kids have a room each, access to schools, a garden, and I have access to job opportunities. Really, why would I care if the prices go up or down, I make a living from my day job, property investment just inst a consideration. What is important is that I have a roof over my head. If you think of bricks and morter as merely an investment, an opportunity to make money then fine, and I know people do. But most of us, as hard for this for you to believe as it may be, are just interested in buying homes and providing a stable environment for our little Timmys to grow up in. My retirment is handled by a pension scheme, and tbh many dont even think about retirment. The idea that people will uproot their families for a few bucks is kinda out there imo, sure the single guy luxury flat market will prove volatile and ive no doubt the market will drop out of those, but there is always going to be a shortage of good family housing, and its one area that will only move slowly, because, as you say, there is strong psycology operating here, the psycology that insists parent nest and provide. If you cant relate to that, I suggest that you dont live with a woman, the idea of selling up the missus's family home for a quick profit - I can hear the words echoing now 'over my dead body'. I look forward to seeing what happens, either way I cant lose - the prices fall, great it pushes bigger houses into my reach should we decide to have a bigger family, and if prices carry on up, well I can stay put, no probs, and when I come to emigrate in my retirement I'll cash in . Im alright Jack, and so are the rest of us !.
  5. Theres no reason why theyd have to sell, Im sure theyd just keep hold of their properties, most peeps invest in property for the longterm. Who cares if there is a crash, as long as you can sell it again in the next 20-30 years. Anyone who has seen the forcasts for population rises and the poor planning for this by the government wont be too worried in the long term. tbh im not sure we'll see a crash, for that to happen something will need to force people to start selling, unless there is a massive rise in unemployment then people will just hang on to their homes - who will want to sell at a loss...
  6. Says the one who is brainwashed into thinking dido is middle-of the-blahblahblah-pop. Its interesting how many times Ive heard that from people who dont really understand her roots, background, ethos, and tbh have missed tha point - as you demonstrate in your lack of understand of the song you quote from. The record is actually filled with some interesting themes and is clearly a very personal album, the title track inparticular reflecting on the dilemmas of where life is heading, something most of us can relate to im sure. That you cant see what she's really getting at is interesting in itself, I often suggest to people that if they cant see the depth then maybe they need to look harder, sometimes the hidden meanings are the most rewarding once found. Didos success is in being able to appeak on a commercial level too - but dont make the tired mistake of thinking the two cant mix. I find musical snobbery quite interesting, probably because im related to an Oxford educated musical snob so I see it regularly, theres this idea that if something is popular then it cant be good because the general public cant possibly know good music - its like a feeling of superiority over the rest of us, and of course over popular artists. Fortunately for those of us not weighed down by such preconceptions Dido is far from manufactured. Oh, and there are many practical reasons for wanting to buy a house, again, how awful for you to carry that large chip on your shoulder round your whole life, fyi Thatcher hasnt been PM for quite some time now... geesh!
  7. geesh if you wanna own a house, buy one, if you dont then dont. who cares if its value for money or not, I bought the place cos I want to live in it, what else matters....
  8. some serious social sterotyping going on here, all of which is only backed on personal experience. My missus grew up on a housing estate in South Wales, she speaks 4 languages (not including English/Welsh), got 4 A-levels (As of course), straight A*s at GCSE and a 1st at Uni. All her friends seemed educated and sound and are now going on to do good things. I think many growing up in that situation actually realise that there is more to life and they must grasp the opportunities they have. I think people like to see the worst in others, I think people live up to the expectiations of them and by writing them off you are part of the problem, not part of the solution. I think more people than will admit it in this thread are daily mail readers. I think most people here confuse the minority with the majority of hard working British people.
  9. Just bought my first house, cple months ago, been loving it. 3 bed semi in South London. Large garden. Must have cost the Earth? Nope circa £200k. Must be in bad nick? Nope done up nicely by the previous owners, central heating, dbl glazing, new kitchen (inc all white goods), new bathroom, recently decorated throughout. Nasty area? Nope good local schools, services, 20min connection to London, station 10 min walk away. Small? Nope, all rooms are large dbls, kitchen dinner, living room, large bathroom, hallway, landing, etc... It's just that there are actually affordable nice family houses out there, even in London. But for how long? With the population only growing and new houses mostly just tiny flats (ive lived in 2 new build flats - never again!) personally I think its a big gamble to wait! At least I know that my kids will grow up with a garden . At 25% of my earnings, I dont think my mortgage is bad value at all... Id agree that many properties are overpriced, 2 bed new build flats in my area go for the same price as my house - now that's weird!! But they are being sold! And one I rented was recently resold for £220k :S! Tiny little place it was, on 2nd floor! Some people have more money than sense ! Anyways, GL to all
  10. Every country has its own problems, I think some people will only learn that the hard way...
  11. look fwd to reading the outcome! Ive heard these things normally go in favour of the tennant, just state ya case and accept the outcome given. Been in your situation although I never had to go to court in the end. tbh all landlords are b*stards - well glad Ive now bought a place !
  12. Great line into town for us City commuters, I live South of Croydon town itself a few stops down the line. What amazed me was how cheap houses are relative to other Zone 6 areas with a similar commute. I just bought my 1st house, paid a tad over £200k, and landed myself a 3 bed semi with large garden, 2 larger rooms and even the smallest easily holds a king sized double bed. I think these kinda bargins wont be around for long, when we were looking we went round just over 20 properties in 2 weeks (eek!) and some of them were clearly over priced. However the supply has really dried up and some of the less nice places have now gone for considerably more than we paid (according to the land registry details on right move). Sadly most of the development in the area is flats - like everywhere, but I guess that just means an increase in demand for family homes in the future. tbh I can only see the houses going up and up. With the population of London set to increase 25% by year whatever and only flats being built in numbers its gonna be pretty hard to get ya hands on a family house. If I were me (which I am ) - Id be looking to find an area that still represents a bargin and buy now before prices just go further out of reach. At least now I know my kids will grow up with a garden to play in, I'll only ever be 20mins by train from one of the worlds largest job markets, and I wont be kicked out by my landlord ever again (- not a nice experience, I was well pro renting until that happened!). The best thing is my mortgage payments are about the same as my rental ones, but when you get ya mortgage statement its very rewarding to see it dropping . Oh and my last crappy landlord's house is still empty hahaha! GL all!
  13. Id never rent again tbh, my landlord turned up one day and said 'right, I want you out'. How can you ever put down routes and feel secure? Fine if ya care free young single but something you cant allow to happen if you have a family. I guess there are options in negotiating your notice period but signing up to a longterm deal isnt really practical either. In this instance we were assured we could stay as long as we wanted as it was bought as a long term investment, didnt count on him giving the place to his son though...
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