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Lets Face It, We Have Had Our Asses Kicked!


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The trick to living in the UK now is to borrow, spend and live it up. Don't worry about saving or working hard because if you are lazy and reckless, the government will look after you, no matter what happens.

I never thought the bounce would last this long, but it looks like they have managed a soft landing by lowering interest rates to record levels(robbing savers), printing new money, forcing banks to halt repossessions amongst other actions. I assume it is going to be a long hard period of gentle inflation, lowering of living standards, rising crime and being screwed by the banks, whilst property pricing remain at this level. I can not see them falling any more.

I really feel sorry for the FTB/people with little deposit, you are doomed and will never have your names on the deeds of a decent home unless you become a debt slave for the balance of your life. I have moved my STR fund out of the UK, now I am going to help my kids to do the same.

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Off you go then, stock up on debt, fill your home with knicknacks, buy that new car.

then see how much they are really looking after you when you lose your job or the dishwasher has blown up

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The trick to living in the UK now is to borrow, spend and live it up. Don't worry about saving or working hard because if you are lazy and reckless, the government will look after you, no matter what happens.

I never thought the bounce would last this long, but it looks like they have managed a soft landing by lowering interest rates to record levels(robbing savers), printing new money, forcing banks to halt repossessions amongst other actions. I assume it is going to be a long hard period of gentle inflation, lowering of living standards, rising crime and being screwed by the banks, whilst property pricing remain at this level. I can not see them falling any more.

I really feel sorry for the FTB/people with little deposit, you are doomed and will never have your names on the deeds of a decent home unless you become a debt slave for the balance of your life. I have moved my STR fund out of the UK, now I am going to help my kids to do the same.

hindsight is a wonderful thing.

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The trick to living in the UK now is to borrow, spend and live it up. Don't worry about saving or working hard because if you are lazy and reckless, the government will look after you, no matter what happens.

I never thought the bounce would last this long, but it looks like they have managed a soft landing by lowering interest rates to record levels(robbing savers), printing new money, forcing banks to halt repossessions amongst other actions. I assume it is going to be a long hard period of gentle inflation, lowering of living standards, rising crime and being screwed by the banks, whilst property pricing remain at this level. I can not see them falling any more.

I really feel sorry for the FTB/people with little deposit, you are doomed and will never have your names on the deeds of a decent home unless you become a debt slave for the balance of your life. I have moved my STR fund out of the UK, now I am going to help my kids to do the same.

Judging by the reaction to boy George's debt payback plan, you are in the minority. Most in the UK now understand that you cannot keep spending without creating the meansand wealth in the first place. Go ahead and keep living the lie. Most of the rest of us will be living in the new reality.

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The trick to living in the UK now is to borrow, spend and live it up. Don't worry about saving or working hard because if you are lazy and reckless, the government will look after you, no matter what happens.

Up until recently I might have agreed with you.. but now is not the time to be depending on the government for anything.

When times are good and money is easy, the majority will begrudgingly carry the weight of the reckless and lazy.

When times are hard it's every man for himself.

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Battle hasn't begun. Only seen initial skirmishes. Have patience. This may take another 5 years to play out.

And by then everyone will have spent another £45K on rent.

I agree with you - they will fall more, but the incentive wasn't enough for me to stick to my STR strategy. I've bought. I'd rather be £20K down over 5 years than in limbo.

Damn the VIs!

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I have just looked at the SuttonKersh.co.uk website. Auctioning property in Liverpool. I know that many think Liverpool is unrepresentative because it is so different from the Home Counties, but precisely because property there went beyond its fundamental relationship to income, employment and value, it is showing first the probable trend.

Lots of houses at what are oldfashioned prices.

Still not low enough, to my mind, but getting there.

Spoil yourselves, forget Camermoron and look at houses.

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I never thought the bounce would last this long, but it looks like they have managed a soft landing by lowering interest rates to record levels(robbing savers), printing new money, forcing banks to halt repossessions amongst other actions.

What's ACTUALLY happening with regards to repossessions. I know Gordon bragged about all his schemes to 'keep people in the banks' houses', but I have read things like 'it's only affected two people etc.'

What are the facts? If you lose your job and have no income - how are people being helped? Mortgages paid? For how long? Payment holiday? For how long? Is interest being rolled up? Are the government we funding it? How much is it costing?

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The trick to living in the UK now is to borrow, spend and live it up. Don't worry about saving or working hard because if you are lazy and reckless, the government will look after you, no matter what happens.

I never thought the bounce would last this long, but it looks like they have managed a soft landing by lowering interest rates to record levels(robbing savers), printing new money, forcing banks to halt repossessions amongst other actions. I assume it is going to be a long hard period of gentle inflation, lowering of living standards, rising crime and being screwed by the banks, whilst property pricing remain at this level. I can not see them falling any more.

I really feel sorry for the FTB/people with little deposit, you are doomed and will never have your names on the deeds of a decent home unless you become a debt slave for the balance of your life. I have moved my STR fund out of the UK, now I am going to help my kids to do the same.

I feel your pain.

However I also feel a lot of the recent stimulus is simply bringing forward demand, be it cash for clunkers or moving savings from cash into property (and this includes overseas buyers as well). So I'm far from convinced that this "recovery" can be sustained.

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I have to agree that the government has kicked our asses. The feckless and greedy being bailed out by the prudent.

I'm ducking out and buying back in having exchanged contracts on a detached house yesterday. No doubt the recovery can't be sustained but I think they will keep throwing tax payers money at it in an effort to try. This has ended not as I would have expected.

Edited by hazymemory
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sorry to all these people who have taken a battering and feel the war is lost

You cannot tell from appearances how things will go. Sometimes imagination makes things out far worse than they are; yet without imagination not much can be done. Those people who are imaginative see many more dangers than perhaps exist; certainly many more than will happen; but then they must also pray to be given that extra courage to carry this far-reaching imagination. But for everyone, surely, what we have gone through in this period - I am addressing myself to the School - surely from this period of ten months this is the lesson: never give in, never give in, never, never, never, never-in nothing, great or small, large or petty - never give in except to convictions of honour and good sense. Never yield to force; never yield to the apparently overwhelming might of the enemy. We stood all alone a year ago, and to many countries it seemed that our account was closed, we were finished. All this tradition of ours, our songs, our School history, this part of the history of this country, were gone and finished and liquidated.

Very different is the mood today. Britain, other nations thought, had drawn a sponge across her slate. But instead our country stood in the gap. There was no flinching and no thought of giving in; and by what seemed almost a miracle to those outside these Islands, though we ourselves never doubted it, we now find ourselves in a position where I say that we can be sure that we have only to persevere to conquer.

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sorry to all these people who have taken a battering and feel the war is lost

You cannot tell from appearances how things will go. Sometimes imagination makes things out far worse than they are; yet without imagination not much can be done. Those people who are imaginative see many more dangers than perhaps exist; certainly many more than will happen; but then they must also pray to be given that extra courage to carry this far-reaching imagination. But for everyone, surely, what we have gone through in this period - I am addressing myself to the School - surely from this period of ten months this is the lesson: never give in, never give in, never, never, never, never-in nothing, great or small, large or petty - never give in except to convictions of honour and good sense. Never yield to force; never yield to the apparently overwhelming might of the enemy. We stood all alone a year ago, and to many countries it seemed that our account was closed, we were finished. All this tradition of ours, our songs, our School history, this part of the history of this country, were gone and finished and liquidated.

Very different is the mood today. Britain, other nations thought, had drawn a sponge across her slate. But instead our country stood in the gap. There was no flinching and no thought of giving in; and by what seemed almost a miracle to those outside these Islands, though we ourselves never doubted it, we now find ourselves in a position where I say that we can be sure that we have only to persevere to conquer.

If you're going to quote Churchill, you might at least give him the credit/blame, asshole.

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I have to agree that the government has kicked our asses. The feckless and greedy being bailed out by the prudent.

I agree but the Conservatives will also support home owners and would have supported the banking industry much like Labour have done.

Things are not going to change radically.

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In HPC terms, I'd probably be regarded as a bull, insofar as I think things will recover without Armageddon. That said, I think things will get worse before they get better.

The economy always will be cyclical (regardless of the "end to boom and bust" nonsense), and I don't believe that after such a large peak, we can have hit the bottom yet. It seems clear to me that unemployment has to keep getting worse, with the resulting depressing effect on the economy at large, and in turn, house prices.

There is plenty of chaos to come. Postal workers look like striking, and public sector strikes under the likely Tory administration look very likely. We could be looking at a new era of industrial unrest, and the battering that will give the economy, and our standing in the world. Like someone earlier, I think there are 5 years left at least before genuine recovery starts. In the meantime I expect ups and downs. Nimble stock market investors for instance, could do well.

I wouldn't put off people buying property if they can afford it, but I don't think we are on the cusp of another property boom.

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