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Having read these message boards with interest for the past year or so, I have decided to join in the debate.

I am most definitely not even thinking about joining the madness that is the property market at the moment. Even if i wanted to, i couldn't afford a shoebox in or around london. In my view, we are definitely at the end of a boom and in for a very rough 5-10 years whilst this mess unravels. Anyway, to the point.

We are in record amounts of debt at the moment in this country, and the situation isn't getting any better. I have a theory as to how this has partly come about. People of my generation who left university within the last 5 years or so faced no choice about whether to buy or rent-the choice was made for them by the ever expanding bubble, and the burden of student debt. So, no mortgage and into rented accomodation. Without a house to spend money on, what are we to do? I tell you what i and many of my friends have done and that is have one heck of a party on the visa. It seems that a lot of people i know who are my age are in a lot of debt. Not just the odd thousand, but tens of thousands. Wheras in past years we may have spent money doing up our houses, or buying our own house even (dream on), we have spent money going on holiday, getting drunk and driving new bmw's.

I would say that debt is our mortgage. For instance, my debt works out at 400 pounds a month roughly in repayments. Added to rent of 375 pounds a month, and you probably have roughly what a mortgage on a 100k property would work out at. Until property becomes more realistically priced, we have no incentive to save for a deposit, no incentive to pay back our debts. I think ultimately that whatever interest rates do will have little effect on the outcome of this mess as pretty much every 20 something is flat broke. I don't know if there are any figures of debt per age group out there, but i would be willing to bet that a large amount of it is owed by the under 35 age group...

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Completely agree with you twenty.Your points on debt (and more besides) have been discussed on many threads on this site.Lots of people agree that the debt culture mentality is partly to blame for the HP mania.People who were lucky enough to go through uni with minimal debts (like myself) have been able to fuel the meteoric rises as they have been able to obtain huge mortages.You make a good point in that people now coming through uni haven't got the chance to do the same in the main.Maybe this will now contribute to putting the brakes on the market a bit.We are far too comfortable with debt as a society/culture, and not exactly pragmatic.It's a dangerous game to play...

Edited by Homebird

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As an over-35 I agree. You need a good reason to stay out of debt and save money. If you graduate in massive debt, and a home and family seem an unrealistic dream, it's going to be hard to get motivated to save money!

People who witter on about how youngsters just need to do what they did.. save, up, buy a derelict house, go without holidays or new clothes/furniture and spend all their weekends renovating etc don't get the point. Young people don't have that choice available to them any more.

Not yet anyway! :P

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Having read these message boards with interest for the past year or so, I have decided to join in the debate.

I am most definitely not even thinking about joining the madness that is the property market at the moment. Even if i wanted to, i couldn't afford a shoebox in or around london. In my view, we are definitely at the end of a boom and in for a very rough 5-10 years whilst this mess unravels. Anyway, to the point.

We are in record amounts of debt at the moment in this country, and the situation isn't getting any better. I have a theory as to how this has partly come about. People of my generation who left university within the last 5 years or so faced no choice about whether to buy or rent-the choice was made for them by the ever expanding bubble, and the burden of student debt. So, no mortgage and into rented accomodation. Without a house to spend money on, what are we to do? I tell you what i and many of my friends have done and that is have one heck of a party on the visa. It seems that a lot of people i know who are my age are in a lot of debt. Not just the odd thousand, but tens of thousands. Wheras in past years we may have spent money doing up our houses, or buying our own house even (dream on), we have spent money going on holiday, getting drunk and driving new bmw's.

I would say that debt is our mortgage. For instance, my debt works out at 400 pounds a month roughly in repayments. Added to rent of 375 pounds a month, and you probably have roughly what a mortgage on a 100k property would work out at. Until property becomes more realistically priced, we have no incentive to save for a deposit, no incentive to pay back our debts. I think ultimately that whatever interest rates do will have little effect on the outcome of this mess as pretty much every 20 something is flat broke. I don't know if there are any figures of debt per age group out there, but i would be willing to bet that a large amount of it is owed by the under 35 age group...

I dunno, maybe I've always been a frightful bore, but what about paying off your student loan after graduating and living in rented accomodation? Did it not occur to you or your friends that you might be inhabiting this planet for another 50-80 years and may need to get your finances in order?

Hey, I have a University education, everything will be fine......no, fuggit, stick it on the card....another bottle over here.....yeah, pick up the beemer tomorrow

"Wheras in past years we may have spent money doing up our houses, or buying our own house even (dream on), we have spent money going on holiday, getting drunk and driving new bmw's."

Not money you've EARNED, sunbeam. Try earning it first. Sheesh!

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It doesn't help that most graduates these days end up in call centres and back offices earning the low teens in salary. Most can't afford to save, live in shit accommodation like their student days and therefore continue to live like students. As a graduate you expect, somehow, to do better in later life and therefore leave all the saving and stuff till later.

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If I'm correct, your 'Theory' is:-

Students who can't afford a house will naturally be inclined to blow money on credit cards?

err... I don't think so.

You are just selfish...and had a bad financial education... the MP3 generation... a TV zombie with no morals.

Edited by NotDavidIcke

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It would be nice to think that when someone has a mortgage and a property of their own, that they would become more financially responsible. So to me it seems quite possible that when graduates can't afford a house that they are more likely to get into more debt.

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It doesn't help that most graduates these days end up in call centres and back offices earning the low teens in salary. Most can't afford to save, live in shit accommodation like their student days and therefore continue to live like students. As a graduate you expect, somehow, to do better in later life and therefore leave all the saving and stuff till later.

I think this is the kind of 'world owes me a living' attitude that riles me. Nothing personal, but an education doesn't mean sh*t without some sense of sense of responsibility. I have never earned above low teens in salary, and I have lived within my means. I was lucky with my house purchase in '99, but responsible enough to not to take advantage of rising property values. I never MEWed, and I'm living proof that any thicko, with a below average earning potential and given the appropriate market conditions, can purchase a residential property with a repayment mortgage in under 6 years. If I can avoid it, I will never borrow a penny from a bank again as long as I live.

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Having read these message boards with interest for the past year or so, I have decided to join in the debate.

I am most definitely not even thinking about joining the madness that is the property market at the moment. Even if i wanted to, i couldn't afford a shoebox in or around london. In my view, we are definitely at the end of a boom and in for a very rough 5-10 years whilst this mess unravels. Anyway, to the point.

We are in record amounts of debt at the moment in this country, and the situation isn't getting any better. I have a theory as to how this has partly come about. People of my generation who left university within the last 5 years or so faced no choice about whether to buy or rent-the choice was made for them by the ever expanding bubble, and the burden of student debt. So, no mortgage and into rented accomodation. Without a house to spend money on, what are we to do? I tell you what i and many of my friends have done and that is have one heck of a party on the visa. It seems that a lot of people i know who are my age are in a lot of debt. Not just the odd thousand, but tens of thousands. Wheras in past years we may have spent money doing up our houses, or buying our own house even (dream on), we have spent money going on holiday, getting drunk and driving new bmw's.

I would say that debt is our mortgage. For instance, my debt works out at 400 pounds a month roughly in repayments. Added to rent of 375 pounds a month, and you probably have roughly what a mortgage on a 100k property would work out at. Until property becomes more realistically priced, we have no incentive to save for a deposit, no incentive to pay back our debts. I think ultimately that whatever interest rates do will have little effect on the outcome of this mess as pretty much every 20 something is flat broke. I don't know if there are any figures of debt per age group out there, but i would be willing to bet that a large amount of it is owed by the under 35 age group...

well said twenty wotsit.

this is how i feel from an older point of view and goes to explain the binge drinking mentality of the twentythings. i agree with all of this.

yours is the generation with "no home to go to" and no incentives. spot on stuff. theres nothing left to entertain the idea of some overblown terrace for £180k on a wage of 20k average. i dont think so.....

but how many years to sort out ? 5. 10 ?

i myself will be over the hill by then.

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I would say that debt is our mortgage. For instance, my debt works out at 400 pounds a month roughly in repayments. Added to rent of 375 pounds a month, and you probably have roughly what a mortgage on a 100k property would work out at.

It may not seem like it to some but it's like having your cake and eating it in a way, why spend all disposable income on mortgages and upkeep of a house when you can rent and living it up with the rest, or use the remainder to pay off the debts from the excesses, at least.

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I can see who didn't pay attention in sociology 101 :P

The poor blow their money on booze and fags because there is no reason for them to delay gratification. What is someone who earns the basic wage going to save up for? I remember when houses were going up by AUS$5k a week in my town. Why the hell would I try to save up for a deposit on a house?

I think this theory has merits. Why save to get ahead when you are behind the eight ball right from the get-go?

My credit card debt = AUS$1200 would be more except I cut the cards up :P It's liberating to not have that monster available B)

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I can see who didn't pay attention in sociology 101  :P

The poor blow their money on booze and fags because there is no reason for them to delay gratification.

i reckon its peer pressure only that starts both these addictions.

what reason has anyone - rich or poor got to delay gratification ?

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I can see who didn't pay attention in sociology 101  :P

The poor blow their money on booze and fags because there is no reason for them to delay gratification. What is someone who earns the basic wage going to save up for? I remember when houses were going up by AUS$5k a week in my town. Why the hell would I try to save up for a deposit on a house?

The govt doesn't exactly set a good example either, one of my relatives for example did as he was told and opted out, got a private pension, paid in each year, paid many more years of national insurance than required, it turns out he is no better of than just relying on the state and their means tested maze.

His money would have been better spent on five holidays each year and an assortment of fast cars, loose women and spending even more to keep them quiet, he could of then pleaded poverty in retirement, the government would have provided in excess of his private means (which they tax at 22%, even in retirement). The govt love means testing for this age group because it costs them so little because nobody claims, my relative is independent and doesn't want to be a client of the state, because he did the right thing and has more than £6K (?) in assets I don't think any of the schemes apply anyway, not that they're interested. The government spends more money administrating these means tested pension schemes than they give out in benefits, it appears just to be a job creation exercise.

As a rational young man what example does that set? Basically, spend everything you recieve, piss it all away on instant gratification, don't acculimate any assets because they become a liability and tax drag, and the state will look after you better than anyone else because you're a good 'client'.

The above attitude grates me and goes totally against my rationale and everything I was brought up to believe, but sometimes when you see some Chav with his latest materialistic tropes and not a worry in the world you ask yourself if they're as daft as you think, they certainly have no concerns about student loans or debt, x5 mortage multipules, who recieves the free housing, council tax, job seekers allowance, free national insurance stamp, 'working' tax credit, and usually child benefit, child tax credit, free dentistry and god knows what else I've missed... and who pays? In retirement it will be even more stark.

When you see some brainless yob who doesn't give a sh*t remember, he doesn't have to care, other people and whole state apparatus do that for him, add in the jobs that are reliant on a client underclass and add in votes and you have a heady symbiotic mix.

Why should he care about HPI, inflation, interest rates, oil prices, outsourcing, etc. So as long as enough money is deposited each week so he can 'av it large he's happy, after all, he's entitled to it.

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Guest muttley
what reason has anyone - rich or poor got to delay gratification ?

My parents used to tell me "hard work always pays off in the end"

It never occured to them that laziness pays off NOW.

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A number of bullish posters on here have ridiculed the idea of a possible sustained downturn while at the same time criticising younger potential buyers for p***ing their money away and saying it's their "fault" they can't afford a home. Oh, and there won't be a crash.

It's mildly ironic, because in the face of the figures (first time buyers priced out in 92% of the Country) and the collapsing market, it is that very same prolonged lack of first time buyers that is ultimately *causing* that collapse, regardless of whose "fault" it is.

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Having read these message boards with interest for the past year or so, I have decided to join in the debate.

I am most definitely not even thinking about joining the madness that is the property market at the moment. Even if i wanted to, i couldn't afford a shoebox in or around london. In my view, we are definitely at the end of a boom and in for a very rough 5-10 years whilst this mess unravels. Anyway, to the point.

We are in record amounts of debt at the moment in this country, and the situation isn't getting any better. I have a theory as to how this has partly come about. People of my generation who left university within the last 5 years or so faced no choice about whether to buy or rent-the choice was made for them by the ever expanding bubble, and the burden of student debt. So, no mortgage and into rented accomodation. Without a house to spend money on, what are we to do? I tell you what i and many of my friends have done and that is have one heck of a party on the visa. It seems that a lot of people i know who are my age are in a lot of debt. Not just the odd thousand, but tens of thousands. Wheras in past years we may have spent money doing up our houses, or buying our own house even (dream on), we have spent money going on holiday, getting drunk and driving new bmw's.

I would say that debt is our mortgage. For instance, my debt works out at 400 pounds a month roughly in repayments. Added to rent of 375 pounds a month, and you probably have roughly what a mortgage on a 100k property would work out at. Until property becomes more realistically priced, we have no incentive to save for a deposit, no incentive to pay back our debts. I think ultimately that whatever interest rates do will have little effect on the outcome of this mess as pretty much every 20 something is flat broke. I don't know if there are any figures of debt per age group out there, but i would be willing to bet that a large amount of it is owed by the under 35 age group...

Well that has to be the nuttiest excuse or reason for HP's to fall that I ever heard. <_<

I agree the problem you have described is widespread, but if anything, its a drag on prices. If everyone were more prudent with their money, house prices would be much higher.

What is happening in reality is that people are failing to plan for their own lives and landlords like me are taking the baton & doing it for you. Your role in this is to pay the mortgage, my role is to supply the finance. You could take on my role, but only you can make you do that.

I don't agree that previous students emerged in the masses to become homeowners & DIY'ers. There has always been a mix of doers and a mix of talkers in society. You sound like one of the talkers with your £400pm repayments like a ball and chain that you fitted to yourself but tell everyone else you are innocent & in hock by mistake.

There's only one place in the world where success comes before work, a dictionary. Think hard about that, it could save you.

And read the book 'Making Money Made Simple'.

Edited by Time to raise the rents.

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It would be nice to think that when someone has a mortgage and a property of their own, that they would become more financially responsible. So to me it seems quite possible that when graduates can't afford a house that they are more likely to get into more debt.

Wrong order dapperdave, one needs to get financially responsible way before entering the property market. How you going to put any kind of deposit down if it's all frittered away on credit commitments every month? :blink:

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It doesn't help that most graduates these days end up in call centres and back offices earning the low teens in salary. Most can't afford to save, live in shit accommodation like their student days and therefore continue to live like students. As a graduate you expect, somehow, to do better in later life and therefore leave all the saving and stuff till later.

If close to 50% of school finishers become graduates how on earth do you think that all will do better than average. It's mathematically impossible.

An average degree from a average "university" now equates to a reasonable set of O levels in terms of employment discrimination.

Further education is all very well if it's actually worthwhile. If it's only a delay to work couple with debt then you have to ask why anyone choses to go that route.

Having said that, and it's harsh, why should any one individual school leaver make the choice not to take up further education if all they hear is how much better their employment prospects will be once they've finished.

The youngsters of today are in a very invidious position.

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So, no mortgage and into rented accomodation. Without a house to spend money on, what are we to do? I tell you what i and many of my friends have done and that is have one heck of a party on the visa.

I understand the argument: "What's the point of saving for a deposit when prices are going up so fast" (even if I don't agree with it), but I can't even begin to fathom the "Might as well get myself into an even more debt" argument.

It's link waking up with a hang-over and thinking "I feel terrible so I'd better drink even more tonight".

Not being able to buy a house concerned me at first but now I realise that my quility of life is fine without owning and that I'd be much worse off financially if I did. I've nearly payed off my student loan. There's something very liberating about knowing that you don't owe anybody anything. It's actually quite addictive. The only way I'll ever put myself in debt again (if I can avoid it) is a mortgage on a house and I really think I'll resent that when the time comes.

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I would just like to add in my boring 'oh he goes on and on doesn't he', that although I have little patience with people who get themselves into debt needlessly, we all have to realise that the banks absolutely LOVE IT! Why, because the money that they lend to you DID NOT EXIST BEFORE THEY LENT IT TO YOU. How can they lose in this situation? They can't. They create themselves money through lending, and enslave you in the process. If you declare bankruptcy...do the banks really care? No. The money never existed anyway (of course they would rather get it back).

I can well believe why debt has become a common and accepted financial state nowadays - everyone is so selfish, with no comprehension of the idea of saving or working hard for your reward, and the banks are WELL into it. On the other hand the speed at which we have changed from a society of protestant frugal 'make-do and mends', into some sort of stupid Huxleyan 'ending is better than mending. the more stitches, the less riches' society sometimes simply astonishes me: just goes to show the pernicious power of popular culture and adverts. TwentySomething I sympathise with some of your post, but FFS why are you allowing yourself to be placed in hock to the bankers!? Do you enjoy being a slave?

I just turned 30, and I owe nothing. I lodge in a small boxroom and am busy piling away as much money as possible. Quite why you think this is not an option I don't know. Please for your own sake wake the F**k up.

p.s. Brave New World is still one of my favourite books. Get it online for FREE at http://www.online-literature.com/aldous_hu...rave_new_world/.

"'for free'!?! Ridiculous!?! Why get something for free when you can spend money on it?? I'm not some kind of loser!! ...the more stitches, the less riches, the more stiches, the less riches" etc. etc.

Also, on the BBC this morning I saw some prats (probably MEWing) to hire private jets to skip to France or whatever...only £400 a head. ONLY!!! What happened to an appreciation of the value of money!?! Jeeeeesus H Christ, I despair I really do.

There, that's better. Rant over. :D

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I understand the argument: "What's the point of saving for a deposit when prices are going up so fast" (even if I don't agree with it), but I can't even begin to fathom the "Might as well get myself into an even more debt" argument.

It's link waking up with a hang-over and thinking "I feel terrible so I'd better drink even more tonight".

Not being able to buy a house concerned me at first but now I realise that my quility of life is fine without owning and that I'd be much worse off financially if I did. I've nearly payed off my student loan. There's something very liberating about knowing that you don't owe anybody anything. It's actually quite addictive. The only way I'll ever put myself in debt again (if I can avoid it) is a mortgage on a house and I really think I'll resent that when the time comes.

Good post. Owning a house isn't the be all and end all. Being in a position where you owe no-one anything feels good, regardless of your income.

Should the day come when I am made redundant, I will endeavour to prove that it is possible to save money while living on benefits. Hopefully HPC will also be redundant by that time, crash having taken place fully therefore no need for site. :D

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A mixed bag of replies there. To be honest, I don't regret the debt that i am in at all. You say that i am a slave to a banker with my credit cards, but what are most of you with your mortgages? I believe that i am a reasonably astute person, and i am not living outside of my means to service the loans that i have. I work very hard (two jobs) and i play very hard. I too have nearly paid off my student loan-it will be finished in just under a years time, and also save £250 a month into my company sharesave scheme, which matures in 3 years time. Regardless of how the shares have done i will have just under 18k saved as a minimum. So, i am not a spendthrift chav, and i am not in the position where i am going to be living on the street, or at the expense of the tax payer. I have merely, like so many of my peers, given up on owning a house and am finding other ways of getting into debt-all of which i have to say have been far more fun than a mortgage. I've done the round the world trip, i've wasted countless hundreds in trendy London bars, and i don't regret any of it!

The people on here that are saving up a huge deposit for a house-all power to you. I am not of the opinion that you should live like a nun for what are generally considered to be your best years. When i look back from retirement at myself now, will i want to remember staring at a wall on a saturday night, or will i want to remember angel falls, the ironman in hawai, alice springs, fiji, singapore etc etc. There is no incentive for me to save at the moment, and in a few years time, i will have paid back what i owe through my savings, and hopefully the housing market will have sorted itself out a bit. I think that a few people who lecture me about living within my means like i am some imbecile have forgotten what its like to be young.

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A mixed bag of replies there. To be honest, I don't regret the debt that i am in at all. You say that i am a slave to a banker with my credit cards, but what are most of you with your mortgages? I believe that i am a reasonably astute person, and i am not living outside of my means to service the loans that i have. I work very hard (two jobs) and i play very hard. I too have nearly paid off my student loan-it will be finished in just under a years time, and also save £250 a month into my company sharesave scheme, which matures in 3 years time. Regardless of how the shares have done i will have just under 18k saved as a minimum. So, i am not a spendthrift chav, and i am not in the position where i am going to be living on the street, or at the expense of the tax payer. I have merely, like so many of my peers, given up on owning a house and am finding other ways of getting into debt-all of which i have to say have been far more fun than a mortgage. I've done the round the world trip, i've wasted countless hundreds in trendy London bars, and i don't regret any of it!

The people on here that are saving up a huge deposit for a house-all power to you. I am not of the opinion that you should live like a nun for what are generally considered to be your best years. When i look back from retirement at myself now, will i want to remember staring at a wall on a saturday night, or will i want to remember angel falls, the ironman in hawai, alice springs, fiji, singapore etc etc. There is no incentive for me to save at the moment, and in a few years time, i will have paid back what i owe through my savings, and hopefully the housing market will have sorted itself out a bit. I think that a few people who lecture me about living within my means like i am some imbecile have forgotten what its like to be young.

Well, this response does seem very measured, and it also reveals that you are actually not really in as bad a financial situation as you perhaps led us to believe. All I can say is good for you. I am sorry if I came across as very judgemental, but I get very annoyed by the collective 'live for today' attitude of our society, that I genuinely think could guarantee that indeed there will be no tomorrow! If enough people do just think like this (and they are doing at present) then I am seriously worried that their collective perception will become reality - i.e. tomorrow we will all be f**ked.

You can already see the negative effects of the 'me-now' mentality....whopping savings shortfall, a tsunami of debt, low interest rates that penalise savers even more than watching everyone else f**k about whilst they 'stare at the walls on a saturday night', no social responsibility...just a general absence of long-term thought and the ability to delay gratification....and to top it all off a government that actively seems to discourage saving and future-mindedness through shite like means-testing etc.

It is as if everybody has had their frontal lobes removed by the TV. Go Limbic boy, go! Buy it NOW. NOW NOW NOW NOW!!!! :blink:

Whilst thinking this, I do sympathise with your desire to enjoy the best years of your life...I certainly tried to enjoy my twenties, and largely did, by combining work with travelling - but there is definitely a balance to be struck: if you are going to be paid off and debt-free eventually, then more power to you. You state that some of us lecturing you have 'forgotten what it is like to be young'. I laughed ruefully at this because I could see a bit of myself here! But on the other hand, my response to this is that too many of our generation (I am hoping I can still say that...30 is not so old!) are steadfastly refusing to consider getting old. But it's gonna happen whether we like it or not, and I would rather be financially secure when I get there. And certainly not working for any of those bastards at the bank!

It's all about balance and priorities, and of course decisions can be made either way: just make sure you fully consider the consequences. The grasshopper mentality is widespread and the ants are in danger of being dragged down as well. :blink: If we as a country/culture all keep refusing to think about tomorrow, then we are really f**ked. Look at the Chinese...working like crazy, and I bet plenty of them are staring at the wall on a Saturday night. But in 50 years you may well be shining their shoes.

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A mixed bag of replies there. To be honest, I don't regret the debt that i am in at all. You say that i am a slave to a banker with my credit cards, but what are most of you with your mortgages? I believe that i am a reasonably astute person, and i am not living outside of my means to service the loans that i have. I work very hard (two jobs) and i play very hard. I too have nearly paid off my student loan-it will be finished in just under a years time, and also save £250 a month into my company sharesave scheme, which matures in 3 years time. Regardless of how the shares have done i will have just under 18k saved as a minimum. So, i am not a spendthrift chav, and i am not in the position where i am going to be living on the street, or at the expense of the tax payer. I have merely, like so many of my peers, given up on owning a house and am finding other ways of getting into debt-all of which i have to say have been far more fun than a mortgage. I've done the round the world trip, i've wasted countless hundreds in trendy London bars, and i don't regret any of it!

The people on here that are saving up a huge deposit for a house-all power to you. I am not of the opinion that you should live like a nun for what are generally considered to be your best years. When i look back from retirement at myself now, will i want to remember staring at a wall on a saturday night, or will i want to remember angel falls, the ironman in hawai, alice springs, fiji, singapore etc etc. There is no incentive for me to save at the moment, and in a few years time, i will have paid back what i owe through my savings, and hopefully the housing market will have sorted itself out a bit. I think that a few people who lecture me about living within my means like i am some imbecile have forgotten what its like to be young.

Nice one. And best of luck to you. You sound like you have your head screwed on right and have factored all things into your choices.

I simply chose a different way of doing things, but hope to achieve the same goals, ie the oppotunity to indulge my passions - travel for one. I will do this knowing that my house is paid for and that my travel is paid for before I get on the 'plane.

I do remember what it was like to be young, but I wasn't bombarded with easy credit and for that I am thankful. ;)

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Speaking as a habitual denizen of the UK's licensed premises over many years (unfortunately I'm 40 something not 20 something but old habits die hard) I have noticed an astonishing flood of capital into the crumbling stock. In my day every pub was tatty and in in decline. Most town centres, or at least the handful of desultory pubs in them, had not seen a lick of paint for years. They were like morgues.

Now even the most mundane of places such as Derby has a vast estate of chain bars such that the number of drinkng places must have quadrupled.

All this money must have come from somewhere and I think Twenty-something's postulations are correct. My generation lacked not the desire to binge drink, nor the opportunity, but the money, especially when we could see that a reasonable alternative to pissing all of the limited cash we had up the wall was to save for and then buy a house. (We still pissed a proportion up the wall). It wasn't that easy to run up big credit debts then, either.

If the theory is correct the medium term prognosis for house-prices looks bleak. A generation of housing deposits blown on Stella. But at least we will have millions of ageing tatty All-Bar-Ones in our high streets.

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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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