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Austin Allegro

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I thought a thread on things you've heard people say on the economy might be fun.

Here's some from two of my colleagues. Now, don't get me wrong - they are decent young chaps (mid 20s) and good workers, but their comments show they have absolutely no understanding of anything economic - and I suspect they are pretty representative of the populace as a whole. Eg:

  • 'Every time we have a meeting these days people keep talking about the recession and how it's affecting us. Can't we just move on?'
  • (In reply to my request for a company report on the recession for January next year): 'Won't it be old news by then?'
  • 'Who has actually been affected by this "recession"? ' (When I pointed out his holiday had been cancelled because the tour operator had gone bust, he said 'I don't think there was any connection, was there?')
  • 'I'm not worried about redundancy. Only useless people get made redundant. People get laid off because in recessions, companies use it as an excuse to get rid of people they don't want.'

Anyone got any similar gems?

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Can I save time and point you to the collected works of one Hamish McTavish?

We could create a TV show called "Idiots say the funniest things", this time next year Rodders...millionaires.

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Last night over a drink with a colleague:

Him: "You really should buy some property ASAP. I've got 3, two flats and a house."

Me: "When did you buy them"

Him " 2001, 2002 ans 2003".

Me: "You mean during the biggest property boom the country has ever or will ever see?"

Him: "Erm, well prices always go up long term."

Me: "I'd love to buy a place, for one thing the wife is beginning to get slightly agitated...but prices still have around 30% to fall IMO".

Him: "I think you're making a mistake"

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Last night over a drink with a colleague:

Him: "You really should buy some property ASAP. I've got 3, two flats and a house."

Me: "When did you buy them"

Him " 2001, 2002 ans 2003".

Me: "You mean during the biggest property boom the country has ever or will ever see?"

Him: "Erm, well prices always go up long term."

Me: "I'd love to buy a place, for one thing the wife is beginning to get slightly agitated...but prices still have around 30% to fall IMO".

Him: "I think you're making a mistake"

Had a similar conversation with two friends whilst ski-ing in March. They were utterly convinced that things had bottomed, but not so convinced that they would take up my £500 bet that they were wrong. Funny that.

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An economic moron: my MD finances the company entirely from his personal wealth (it looks like he is beneficiary of a trust whose capital he will never be able to access).

The other week he said he was going to fire us all (the employees) and then he would be the only one left as he was not on the payroll. He said he would then be making 20K a month.

So by firing us and paying himself our wages he makes 20K a month, hmmmm. He would still be paying 9K a month for a windowless office where he sits playing solitaire on his laptop all day.

I await redundancy!

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Interest rates can't go up THEY won't let them ..

:o

Wifes sister after seeing her new build she paid £240k for lose £50k 8 months later when the ones left were re-priced by the builder to £190k.(still not selling).

"ours wont of fallen much because thats without the lawn being done."

On trying to re-mortgage,

"they said we had negative equity,i told them thats silly we paid £240k but only owe £220k,how can we have negative equity",,

The one that really made me gulp,,

"be worth it when we make the last payment,wel be mortgage free when im 71" :blink:

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(In reply to my request for a company report on the recession for January next year): 'Won't it be old news by then?'

What, the company?

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Him " 2001, 2002 ans 2003".

Me: "You mean during the biggest property boom the country has ever or will ever see?"

Sorry but that was quite early in the boom, and I wish I was in his position as I would be minted. We have to be careful here that we dont let our bitterness of having missed the party interferior with our grasp on reality.

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Sorry but that was quite early in the boom, and I wish I was in his position as I would be minted. We have to be careful here that we dont let our bitterness of having missed the party interferior with our grasp on reality.

Yes and no .. Outside the SouthEast possibly but in the SouthEast Prices were already stupid in 1999 Anyone who bought badly then will get hit by the crash full on ..

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Yes and no .. Outside the SouthEast possibly but in the SouthEast Prices were already stupid in 1999 Anyone who bought badly then will get hit by the crash full on ..

So what year would you say prices were back to now? Nowhere near 2003 id wager.

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I had a chat with someone who I know talked their new partner out of renting, because renting is dead money and buying about a year ago. Fast forward a year, they are split up but still living in the same house!

I was like, oh shit, well I did tell you that houses were overpriced and the market would correct. His response.

"Thats not true, ours isnt going down another house sold on our road this month for the same price we paid a year ago."

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Yes and no .. Outside the SouthEast possibly but in the SouthEast Prices were already stupid in 1999 Anyone who bought badly then will get hit by the crash full on ..

I am a big bad bull, but sorry, but prices shot up since 1999. If you bought then you are still quids in. It's another matter should values keep falling of course.

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So what year would you say prices were back to now? Nowhere near 2003 id wager.

Well where I live .. pretty much 2007 .. not a huge amount of movement .. Pretty much nothing selling .. and not allot offered and what is offered is at 2007 prices .. LOT'S of RIO's though .. renting is spectacularly cheap now .. Occasionally you get a house being sold as probate and everyone gets excited .. Sealed bids ETC ETC .. But the one house like this that I know has sold was £450,000 (three bed) and went to a cash buyer .. but it will cost 200,000 at least to make it liveable .. (no bathroom .. no central heating .. 1930's electrics .. Asbestos outbuildings ..) ..

Lots of excitement that some flats in Reading are for sale at 30% below peak .. and people are desperate to pile in and buy one bed flats for BTL £150,000, Sadly for them they are "Miss the Bargain" because the banks will not lend the cash ..

One or two of those flats are going to cash buyers though ..

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I never thought I would hear this in the wild, but:

My LL after rejecting a very good offer (180% profit since 1999) on our current abode: "Well, we're not just going to give it away!" , stated with a look of disgust at the chancer who wasn't willing to pay 2007 prices for his god awful slavebox.

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I am a big bad bull, but sorry, but prices shot up since 1999. If you bought then you are still quids in. It's another matter should values keep falling of course.

Without question .. this is pure anecdotal but ..

Friend bought a house off the Walworth rd for £135,000 in 1996 and sold for £470,000 in 1999 So pretty much trippled in three years .. My GUESS would be that it would could have sold in 2007 for £650-700 .. so in theory you would only need a 40% fall to get back to 1999 ..

Don't missunderstand me the property market was stupid in 2000-2007 but not as stupid as 1996-1999 ..

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"I can't afford to work for minimum wage"

"I'm safe at the moment as I can just withdraw some more equity to see me through the recession"

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1. They [houses] can't get any lower.

2. If they carry on falling, then everyone is ******ed, so it doesn't really matter

and (as a corollary to the above)

......then

3. the government will have to help.

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"This part of Ilford will never go down."

:lol:

Haha .. There is an estate on the outskirts of Maidstone that will always be living in 2007 ..

Maidstone is different you know ..

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Haha .. There is an estate on the outskirts of Maidstone that will always be living in 2007 ..

Maidstone is different you know ..

Being bored to death at a party was told

"We live in a cul de sac, houses always sell as soon as they go on the market!"

God forbid I was in Maidstone, I'd end up twating a twit for sure! Talk of the Devil, where is Sibbers!

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Being bored to death at a party was told

"We live in a cul de sac, houses always sell as soon as they go on the market!"

God forbid I was in Maidstone, I'd end up twating a twit for sure! Talk of the Devil, where is Sibbers!

I've spent my whole working life travelling the globe for work .. and I think there is only one place worse than Maidstone (where I grew up) and that's Harare .. Even Fresno is better ..

It's not so much the town as the people ..

The last time I went to the town was about four years ago (as in the town centre as opposed to my parents house) I went to buy something for my mother and I'm walking along week street with my daughter on shoulders .. Someone came up to me who I had known in the late 80's at Mid Kent college his opening remark was ..

"So you came back then"

"Yes"

"Didn't work out in the film business then did it"

"Well I've done all right"

"Why did you come back"

"Well I came back for the weekend to see my parents"

"****** Off"

End of conversation ..

There's no Schad like Maidstone Schad .. and I will never go into the town again ..

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