Jump to content
House Price Crash Forum
Sign in to follow this  
Turnbull2000

Anne Ashworth Declares Recent Buyers Are The "new Smugs"

Recommended Posts

http://property.timesonline.co.uk/tol/life...icle6436977.ece

http://property.timesonline.co.uk/tol/life...icle6437226.ece

We are also hearing a lot more from the New Smugs — those who faced down almost universal derision and bought a home at the end of last year. Today they feel vindicated in this calculation.

You will know that you have met a New Smug when that person starts to preach the benefits of “buying before you see the light at the end of the tunnelâ€. In the past, this has been a profitable course of action, but only if well-timed. The New Smug would appear to have timed their purchases very close to the market’s nadir.

I'm not agreeing or disgraeeing with their views that the market may have bottomed, just appalled at the general quality of property 'journalism' in the Times.

Share this post


Link to post
Share on other sites
http://property.timesonline.co.uk/tol/life...icle6436977.ece

http://property.timesonline.co.uk/tol/life...icle6437226.ece

I'm not agreeing or disgraeeing with their views that the market may have bottomed, just appalled at the general quality of property 'journalism' in the Times.

As opposed to her and her colleague Ms Millard who are News Mugs.

Share this post


Link to post
Share on other sites
Guest X-QUORK

They won't be so smug when I buy their houses in two years time with another 15% discount.

Share this post


Link to post
Share on other sites
I remember this imbecile getting an utter mauling on an article she wrote a year or so back.

She knows nothing and is an uber VI

Ah yes i remember the new smugs who bought Marconi a few years ago at £8, then i remember the newer smugs buying at £5, then even newer smugs buying at £1 etc etc.

The idea that this is the bottom truly would be historic and a defining moment in humankind as it will be the first bubble that never deflated to undervaluation and the first bubble to collapse in a straight line without any bounces/retracements

Share this post


Link to post
Share on other sites
Guest An Bearin Bui

Just can't get over that link with the headline that 'mum and dad' are key to buying your first home. Isn't it a ridiculous state of affairs when no-one can afford a house unless their parents help them? It was always the norm to get some help from parents or use an inheritance from grandparents to go towards your first home but the level of help now required and being taken for granted is far beyond what should be expected. Money towards a deposit or some furniture, maybe, but 50k+ just taken as read? What if you have 3 or 4 children? That would amount to 200k being shelled out!

Even professional first-time buyers in their thirties have to call on the Bank of Mum and Dad to get on the ladder. Andrew Erhardt-Lewis, 36, and his wife Patricia, 35, above, hope to buy their first home very soon. “At my age I would have expected to have bought already, but London is just so expensive,†Andrew says. “We have already saved a 5 per cent deposit but that doesn’t get you very far any more.â€

The couple now hope to borrow from their parents to bring their deposit up to 15 per cent. They have also adjusted their expectations. “We love where we are now but for a three-bedroom house with a garden priced around £450,000 we think we will have to go a bit farther out, to Twickenham or Isleworth. Space becomes more important when you have a family.â€

Share this post


Link to post
Share on other sites
Ah yes i remember the new smugs who bought Marconi a few years ago at £8, then i remember the newer smugs buying at £5, then even newer smugs buying at £1 etc etc.

The idea that this is the bottom truly would be historic and a defining moment in humankind as it will be the first bubble that never deflated to undervaluation and the first bubble to collapse in a straight line without any bounces/retracements

:lol:

You could add Northern Rock to that as well.

Share this post


Link to post
Share on other sites
Just can't get over that link with the headline that 'mum and dad' are key to buying your first home. Isn't it a ridiculous state of affairs when no-one can afford a house unless their parents help them? It was always the norm to get some help from parents or use an inheritance from grandparents to go towards your first home but the level of help now required and being taken for granted is far beyond what should be expected. Money towards a deposit or some furniture, maybe, but 50k+ just taken as read? What if you have 3 or 4 children? That would amount to 200k being shelled out!

No one deserves to be called a professional when they can't get the idea into their thick f*cking skulls that maybe instead of begging their parents for money, they should simply wait for prices to fall further.

Someone said elsewhere, you appreciate money more when you've earnt it yourself.

Share this post


Link to post
Share on other sites
Just can't get over that link with the headline that 'mum and dad' are key to buying your first home. Isn't it a ridiculous state of affairs when no-one can afford a house unless their parents help them? It was always the norm to get some help from parents or use an inheritance from grandparents to go towards your first home but the level of help now required and being taken for granted is far beyond what should be expected. Money towards a deposit or some furniture, maybe, but 50k+ just taken as read? What if you have 3 or 4 children? That would amount to 200k being shelled out!

And what about those of us who won't be getting a penny from their parents, or in fact are actually contributing a small amount each month to them so they can finish off paying their mortgage!

If it wasn't completely unworkable there should be a tax on parents gifting money to their children!

Edited by Jie Bie

Share this post


Link to post
Share on other sites
http://property.timesonline.co.uk/tol/life...icle6436977.ece

http://property.timesonline.co.uk/tol/life...icle6437226.ece

I'm not agreeing or disgraeeing with their views that the market may have bottomed, just appalled at the general quality of property 'journalism' in the Times.

Andrew Erhardt-Lewis, 36, and his wife Patricia, 35, above, hope to buy their first home very soon. The couple, both management consultants...

Thats all I need to read. A couple in their 30s both with very good jobs can't afford to buy a house without help from mum and dad!!!!

Share this post


Link to post
Share on other sites
Intend to spend £450 K on their first home? What planet are these muppets on?

Planet Zoltron of Outer Ceti VI. Approx 5,000 light years from Sol.

Oh wait, the article says Twickenham or Isleworth, my mistake.

Share this post


Link to post
Share on other sites

'young professionals' and 'management consultants ' - the descriptions should not be seen together in the same sentence. ;)

Share this post


Link to post
Share on other sites
Guest An Bearin Bui
And what about those of us who won't be getting a penny from their parents, or in fact are actually contributing a small amount each month to them so they can finish off paying their mortgage!

If it wasn't completely unworkable there should be a tax on parents gifting money to their children!

Exactly, this is something that these moronic "news"paper articles never mention. I have parents-in-law who chase US for money, assuming that as "professionals" (NB: we're not management consultants :lol: ) with degrees, we should be paying for them. I might point out that they're not in any way hard-up (just made 1/2 mil selling their house) but are very much of the view that my OH somehow owes them for having had food, clothing and shelter for 18 years.

I'm not bitter or anything (not much! :angry: ) as I'd rather not take their money if they're so begrudging with it and OH has money from grandparents anyway but it does make me see red when these articles are written in the media making the assumption that everyone has parents who a.) are still alive b.) have money and c.) are willing to give some of that money to their children. I would bet that people for whom a.), b.) and c.) apply are more the minority than others.

Share this post


Link to post
Share on other sites
Intend to spend £450 K on their first home? What planet are these muppets on?

Planet London!!!! My friend sold her three bed semi in January - and because she priced at 20% off peak (£500k!) - unlike other properties here that are still priced at peak + prices... she sold very fast for £475k. She also sold to a FTB who exactly like the article had deposit from Bank of M&D.

Catchment area for good primary school, and attic conversion (so it was actually 4 bed) no doubt helped.

She bought in 2003 and even with the cost of the attic she made a (very) small profit -but she could only afford in in 2003 as they had made a good profit on their first purchase.

Share this post


Link to post
Share on other sites
'young professionals' and 'management consultants ' - the descriptions should not be seen together in the same sentence. ;)

Amazingly these idiots are out there advising companies! Must specialise in advising the banking sector with the level of intellect they're demonstrating here.

£450k on your first home, and that a 3-bedroom place in zone 5 or so. Muppets. Why not keep renting and save up a deposit? Novel approach, I know.

Share this post


Link to post
Share on other sites
Exactly, this is something that these moronic "news"paper articles never mention. I have parents-in-law who chase US for money, assuming that as "professionals" (NB: we're not management consultants :lol: ) with degrees, we should be paying for them. I might point out that they're not in any way hard-up (just made 1/2 mil selling their house) but are very much of the view that my OH somehow owes them for having had food, clothing and shelter for 18 years.

I'm not bitter or anything (not much! :angry: ) as I'd rather not take their money if they're so begrudging with it and OH has money from grandparents anyway but it does make me see red when these articles are written in the media making the assumption that everyone has parents who a.) are still alive b.) have money and c.) are willing to give some of that money to their children. I would bet that people for whom a.), b.) and c.) apply are more the minority than others.

You'd be surprised. 4 of my friends have each bought a flat in the last few years with between 5k and 15k help from their parents. Despite the fact I earn slightly more than them I am still living in a flatshare and scrimping and saving to get a deposit together.

I just feel that these parent-assisted FTB'rs are putting up prices across the board for the rest of us who have to get by on our own.

Not that I'm bitter either! :lol:

Share this post


Link to post
Share on other sites
Planet London!!!! My friend sold her three bed semi in January - and because she priced at 20% off peak (£500k!) - unlike other properties here that are still priced at peak + prices... she sold very fast for £475k. She also sold to a FTB who exactly like the article had deposit from Bank of M&D.

Catchment area for good primary school, and attic conversion (so it was actually 4 bed) no doubt helped.

She bought in 2003 and even with the cost of the attic she made a (very) small profit -but she could only afford in in 2003 as they had made a good profit on their first purchase.

Planet London is ridiculously over-priced and probably has the hardest to fall. Anecdotally, the O/H works as a call centre manager in C London. They frequently advertise for casual staff at £7.50 p/h and until last year, applications were exclusively actors/actresses, dancers and musicians needing to supplement their meagre incomes. This year he's been inundated with applications - many of them speculative - and they're coming from top-level PAs, experienced managers, IT people etc. who are just hoping for something, ANYTHING, to tide them over until they can get another 'proper' job.

Share this post


Link to post
Share on other sites

Create an account or sign in to comment

You need to be a member in order to leave a comment

Create an account

Sign up for a new account in our community. It's easy!

Register a new account

Sign in

Already have an account? Sign in here.

Sign In Now
Sign in to follow this  

  • Recently Browsing   0 members

    No registered users viewing this page.

  • The Prime Minister stated that there were three Brexit options available to the UK:   296 members have voted

    1. 1. Which of the Prime Minister's options would you choose?


      • Leave with the negotiated deal
      • Remain
      • Leave with no deal

    Please sign in or register to vote in this poll. View topic


×

Important Information

We have placed cookies on your device to help make this website better. You can adjust your cookie settings, otherwise we'll assume you're okay to continue.