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mustrum_ridcully

The 7 Deadly Sins And Houseprices

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It being a sunday and me feeling unusually religious I thought how many of the 7 deadly sins are relevant to the house price bubble. So below are the aforementioned sins with a brief explanation followed by whether they relate in someway to HPI.

Pride is excessive belief in one's own abilities. It has been called the sin from which all others arise. Pride is also known as Vanity.

* Kind of, I guess bulls (and also us bears as well) suffer from this the belief they are right about prices, flippers who believe that they are good property developers, people who've profited from property being overly pleased with themselves.

Envy is the desire for others' traits, status, abilities, or situation.

* Yes, would-be BTLers/flippers wanting to snap up property as they want some of the easy money that other people have made.

Gluttony is an inordinate desire to consume more than that which one requires.

* Yeah, MEWing to get a nice new tv/dvd player/car/holiday that you don't really need.

Lust is an inordinate craving for the pleasures of the body.

* Probably not (but hey it takes all sorts :huh: )

Anger is manifested in the individual who spurns love and opts instead for fury. It is also known as Wrath.

* Yep, anger that the price of your house has not increased, anger at the offer put in by a potential buyer, anger at why people won't even view your over priced house, anger at why your house has been on the market for a year.

Greed is the desire for material wealth or gain. It is also called Avarice or Covetousness.

* Oh yes (as the Churchill insurance dog would say), the desire to see the price of your house increase and the reluctance to accept any fall in value when selling (and failing to see how the fall would help not only others but themselves as well). BTLing and flipping also fit this nicely - getting as much money as possible from others.

Sloth is the avoidance of physical or spiritual work.

* Yes, flipping and BTL also cover this one very well, getting money out of property without doing any work.

6 out of 7, that's more than I expected I think it's fair to say. Guess it shows how housing can feed off our worst human traits.

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Anger:

Because of all my holidays in the sun running naked & drunk and unproductive years spent toiling in education, I am quite pissud off with everyone else.

Don't know what you did during your education, but I found mine was quite productive. No way could I be doing the job I do now without having done quite a bit of education.

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Envy:

Those basturds who didn't go to Uni, beat me to the housing market..........

So what do you think of that situation if it is true? Do you think it is good for the economy that people will look around and decide to neglect educating themselves so that they can have 3 or 4 extra years slogging away to buy some over priced shoebox? If that's what happens, it is over for this country's economy. The only way we can maintain our style of economy is to be at the cutting edge, and that means having an educated workforce.

I think it is just silly to think in these terms. Being able to afford a house shouldn't be a matter of being very shrewd. What's next, people not able to afford food because they didn't neglect their education?

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Envy:

Those basturds who didn't go to Uni, beat me to the housing market..........

Envy:

The feeling of inadequacy that the poorly educated, but financially successful wideboys always have about those who are better educated and more sophisticated than they. Like an itch, it is temporarily eased by belittling their achievements and exaggerating their own shallow success.

Edited by Ah-so

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So what do you think of that situation if it is true? Do you think it is good for the economy that people will look around and decide to neglect educating themselves so that they can have 3 or 4 extra years slogging away to buy some over priced shoebox? If that's what happens, it is over for this country's economy. The only way we can maintain our style of economy is to be at the cutting edge, and that means having an educated workforce.

I think it is just silly to think in these terms. Being able to afford a house shouldn't be a matter of being very shrewd. What's next, people not able to afford food because they didn't neglect their education?

I'm going to try to answer that one seriously.

We have each been educated to a certain standard by about the age of 17/18. We've each been equipped with similar tools to work with & released into the world in a meritocratic race to better ourselves.

From that point on we can make choices that will help us arrive at our chosen destination. It is difficult for thos who can't decide on their destination to get started.

The fact is, that the most successfull people IMO have more than 1 destination in mind.

My own thinking was that accomodation was taking up 35% of my income in my early 20's, so I would be wise to make sure that 35% was working for me & not somebody else. I took action accordingly.

I also worked & attended evening courses etc because I knew I wanted to earn more & was worth more. So I was as productive as I could be IMO. Working, educating, saving & investing.

Contrast that with the many people who I've met over the years who felt that the education bit was most important & all the rest could wait. Naturally that wasn't all the people I met, but it was a very large portion of them & often they stayed at their parents and/or milked the system for loans & handouts while in education. My wife & I have 2 good friends now in their 30's asking us for advice on how to pay off the student loans (that at the time they both used to travel overseas & learn at foreign universities for the experience more than the learning). The only advice I have for them is nose to the grindstone.

So the meritocracy sorts us into new categories:

Those with an education that started productive life later and have less to show for it so far.

Those with the above who started productive life earlier & now have achievements to show for it.

Simple sorting process that isn't usually understood when someone is in their 20's.

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Guest growl
I also worked & attended evening courses etc because I knew I wanted to earn more & was worth more. So I was as productive as I could be IMO. Working, educating, saving & investing.

So what out of curiosity were the evening courses you attended?

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Guest wrongmove

An interesting podt TTRTR, but what you preach will not work for everyone, IMO.

Your "life plan" is set up for someone who wishes to make relatively easy money above all else. Many people have this personality (or think they have), but many do not. Many people have a more "spiritual" outlook. To them, what they know, what they experience, where they go are all more important, or at least as important, as what they own. On top of this, we live in a very prosperous society (compared to all places at all times) so it can make sense to some the reprioritise their activity to allow for cultural and intellectual persuits that simple, poor communities cannot enjoy, (or those totally obsessed by money) as well as "keeping body and soul together".

So I think your advice is good to give to people who want the money, but aren't yet prepared to put in the work, but it would be very poor advice to someone with wider interests - they would propably end up buying a big motorbike and full leathers in their forties and eternally chasing their "missed" youth ! :lol:

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An interesting podt TTRTR, but what you preach will not work for everyone, IMO.

Your "life plan" is set up for someone who wishes to make relatively easy money above all else. Many people have this personality (or think they have), but many do not. Many people have a more "spiritual" outlook. To them, what they know, what they experience, where they go are all more important, or at least as important, as what they own. On top of this, we live in a very prosperous society (compared to all places at all times) so it can make sense to some the reprioritise their activity to allow for cultural and intellectual persuits that simple, poor communities cannot enjoy, (or those totally obsessed by money) as well as "keeping body and soul together".

So I think your advice is good to give to people who want the money, but aren't yet prepared to put in the work, but it would be very poor advice to someone with wider interests - they would propably end up buying a big motorbike and full leathers in their forties and eternally chasing their "missed" youth !  :lol:

That depends on what you want for your motorbike in your 40's. Do you want a new Harley? Or a 70's BSA?

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Guest wrongmove
That depends on what you want for your motorbike in your 40's. Do you want a new Harley? Or a 70's BSA?

:unsure:

Not quite sure what you mean here ? I'm just saying that some people need that excitement when they are young and the social circle of like-minded peers exists, rather than "keeping their noses to the grindstone" then trying to recapture that missing part of their youth in later life.

Admittedly, a "mis-spent yoof" will lead to either harder work later or relative poverty. But for some people, it's easy to focus and work hard when you have got a few things "out of your system".

Edited by wrongmove

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Guest growl
A 4 year Accounting course.

I know someone that was going to go on an evening accounting course. She changed her mind. Are they expensive and just what kind of qualification did you get.

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So the meritocracy sorts us into new categories:

Those with an education that started productive life later and have less to show for it so far.

Those with the above who started productive life earlier & now have achievements to show for it.

Simple sorting process that isn't usually understood when someone is in their 20's.

TTRTR you definitely have an incontravertible point looking back over the last 10-15 years. Those who'd gone straight from school to work and bought somewhere as soon as they could would now be looking at a larger, fancier place, whereas those who'd been through lots of uni (I did 7 years of it myself) might only find themselves in more modest dwellings.

But is this due to "productive life" or market timing? Are you suggesting that a 18-21 year old with no degree who was working and bought now will be better off in 15 years time than a youngster starting out on a good degree course, who won't buy for another 5 years or so? Isn't that the same as saying "property always goes up"?

Uni is not and should not be a guarantee of a good salary/lifestyle. The successful among us will always be those which initiative and self-reliance as well as intellectual ability. However, if you are writing off higher education just because you managed without it then I would suggest "don't knock it till you've tried it" is the response.

frugalista

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TTRTR you definitely have an incontravertible point looking back over the last 10-15 years. Those who'd gone straight from school to work and bought somewhere as soon as they could would now be looking at a larger, fancier place, whereas those who'd been through lots of uni (I did 7 years of it myself) might only find themselves in more modest dwellings.

But is this due to "productive life" or market timing? Are you suggesting that a 18-21 year old with no degree who was working and bought now will be better off in 15 years time than a youngster starting out on a good degree course, who won't buy for another 5 years or so? Isn't that the same as saying "property always goes up"?

Uni is not and should not be a guarantee of a good salary/lifestyle. The successful among us will always be those which initiative and self-reliance as well as intellectual ability. However, if you are writing off higher education just because you managed without it then I would suggest "don't knock it till you've tried it" is the response.

frugalista

Anybody at all who bought young in the last 40 years would have done better than their peers in the same age group.

What is to say that won't continue.

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Guest wrongmove
Anybody at all who bought young in the last 40 years would have done better than their peers in the same age group.

What is to say that won't continue.

That's not true: school-leavers in the late 80s will have paid more than their graduate peers, for example.

Typically HPI runs at a couple of percen above wage inflation. So 3-4 years wouldn't usually make more than around 8% in real terms. Many graduates will then earn extra for the rest of their career through having an appropriate degree.

Not all though.

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  • 301 Brexit, House prices and Summer 2020

    1. 1. Including the effects Brexit, where do you think average UK house prices will be relative to now in June 2020?


      • down 5% +
      • down 2.5%
      • Even
      • up 2.5%
      • up 5%



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