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the end is a bit nigher

How Am I To Have A Relationship........

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Another tale of woe.

Met a girl. Kissed her etc. Turns out she claims to have about £30k equity in her £225k house (i.e. probably zero equity).

How can anyone sensible plan a future in that situation?

I believe that despite being a different species renters and homeowners had common ancestors

You may find that your genetalia are compatible

Good luck ;)

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Another tale of woe.

Met a girl. Kissed her etc. Turns out she claims to have about £30k equity in her £225k house (i.e. probably zero equity).

How can anyone sensible plan a future in that situation?

Ah, but have you fessed up about your HPC obsession yet? Do you skulk downstairs in the middle of the night for a furtive look? Then erase your history?

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Ah, but have you fessed up about your HPC obsession yet? Do you skulk downstairs in the middle of the night for a furtive look? Then erase your history?

Yeah, she is probably more likely to dump you because you are you are deadbeat doom mongering renter.

Only poor and stupid people rent we all know that.

:)

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Guest DissipatedYouthIsValuable

A bit like someone I know who has an IO mortgage of £300k, can't sell, but renting it out and is covering the interest payment only at the moment, then living with his girlfriend in other rented accommodation.

I suppose on the plus side he won't find out he's broke until he's 55. Or when the interest rate changes.

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That bit works ok thanks! It may be nothing more than a basic male / femle divide.

Probably, she should be glad you are cautious with money

She wont be of course ;)

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It must be a similar story with student debt. If one side of a couple has been helped or economical and the other half has not, it puts a mighty imbalance on the relationship.

Eeh, it were easier when we had nowt.

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Guest DissipatedYouthIsValuable
It must be a similar story with student debt. If one side of a couple has been helped or economical and the other half has not, it puts a mighty imbalance on the relationship.

Eeh, it were easier when we had nowt.

It's ok, parasite dad, have a lovely 3 month cruise, again.

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Another tale of woe.

Met a girl. Kissed her etc. Turns out she claims to have about £30k equity in her £225k house (i.e. probably zero equity).

How can anyone sensible plan a future in that situation?

If the government and central banks end up trashing the currency, she'll be the one laughing, not you. It's all a colossal punt. Do you feel lucky?

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If the government and central banks end up trashing the currency, she'll be the one laughing, not you. It's all a colossal punt. Do you feel lucky?

Good point...

Maybe she's banging the OP as a hedge against deflation? ;)

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If the government and central banks end up trashing the currency, she'll be the one laughing, not you. It's all a colossal punt. Do you feel lucky?

I do. Is she going to buy the next one in Euros? I think what you mean is, if the government encourages wage inflation she will be the one laughing.

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Guest DissipatedYouthIsValuable
I do. Is she going to buy the next one in Euros? I think what you mean is, if the government encourages wage inflation she will be the one laughing.

Wage inflation? :lol:

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I do. Is she going to buy the next one in Euros? I think what you mean is, if the government encourages wage inflation she will be the one laughing.

The problem is that this government and, probably, the next Conservative one, are making it very clear that they will do anything whatsoever to protect the interests of homeowners. That's why they've slashed interest rates. Even after recent rises sterling is still about 30% down against the euro and the dollar. There was a piece in Sunday's "Oberver" by an ex-government economic adviser calling for a soft pound so we can export our way out of recession; if this reflects policy, and the evidence so far is that it does, then it indicates no desire to protect the value of sterling. CPI is still running at 1.8% whereas it is negative elsewhere in Europe, and it would be over 2% if it wasn't for the VAT cut. So we still have price inflation. No evidence of putting a floor under sterling there. And then there's QE, and our programme is bigger even in monetary terms than the US programme.

We don't need wage inflation to stay where we are. With ZIRP we have lots of zombie households who are just hanging on by their fingertips, hence the obvious lack of housing supply. It also makes very low yields on housing attractive to investors. Hence Aviva are talking about becoming massive residential landlords. Yields of 4% are better than gilts, if the government are going to hold down interest rates for a long time, as they have made clear they will. Given proper management and economies of scale firms like Aviva may well buy up huge tracts of housing and let it out, thus supporting prices at today's levels. Coupled with deliberate government policy to do anything whatever to support those who are heavily leveraged, as they will do anything to avoid trashing the economy, we could see a fundamental shift in home ownership that will leave people like the owner discussed here laughing - and renters/savers out in the cold.

There is nothing decent, honest or fair about the Brown government. They will do anything to save homeowners. It is obvious that they don't give a t*ss about the young and those who don't own property. And it won't be any different under Cameron.

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