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A Little Bit Of History Bbc News March '01

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http://news.bbc.co.uk/1/hi/talking_point/1222127.stm

From the comments:

I truly hope so. I am so sick and tired here in the UK of meeting unskilled, untalented, 20-somethings who have grown rich over the last 5 years by doing absolutely nothing, just because the value of their house has gone through the roof. I would love to see the smug smiles of satisfaction wiped from their faces by a global recession and a corresponding house market crash. Fortunately I have a broad I.T skill set that pretty much allows me to go from job to job, so long as I'm willing to move, so I'm confident that if a recession hit my job, I could get another one. But most of these people have a very narrow skill set, have never left their home town, and bought their house 15 miles from mom and dad. Everyone needs a good recession from time to time to wake them up and make them realise how powerless they truly are. How events beyond their control can reduce them to nothing, in an instant. It's a spiritual experience!

B. Thompson, UK

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http://news.bbc.co.u...int/1222127.stm

From the comments:

I truly hope so. I am so sick and tired here in the UK of meeting unskilled, untalented, 20-somethings who have grown rich over the last 5 years by doing absolutely nothing, just because the value of their house has gone through the roof. I would love to see the smug smiles of satisfaction wiped from their faces by a global recession and a corresponding house market crash. Fortunately I have a broad I.T skill set that pretty much allows me to go from job to job, so long as I'm willing to move, so I'm confident that if a recession hit my job, I could get another one. But most of these people have a very narrow skill set, have never left their home town, and bought their house 15 miles from mom and dad. Everyone needs a good recession from time to time to wake them up and make them realise how powerless they truly are. How events beyond their control can reduce them to nothing, in an instant. It's a spiritual experience!

B. Thompson, UK

Poor sod. He saw house prices rise for another 6 years then in 2007 when he thought his long patience had paid off, he was told he would be bailing out MEW'd householders with SMI, ZIRP and QE and oh yea his job would be offshored to India and the ones remaining he would have to compete with a million new arrivals who could undercut him at every turn.

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http://news.bbc.co.uk/1/hi/talking_point/1222127.stm

From the comments:

I truly hope so. I am so sick and tired here in the UK of meeting unskilled, untalented, 20-somethings who have grown rich over the last 5 years by doing absolutely nothing, just because the value of their house has gone through the roof. I would love to see the smug smiles of satisfaction wiped from their faces by a global recession and a corresponding house market crash. Fortunately I have a broad I.T skill set that pretty much allows me to go from job to job, so long as I'm willing to move, so I'm confident that if a recession hit my job, I could get another one. But most of these people have a very narrow skill set, have never left their home town, and bought their house 15 miles from mom and dad. Everyone needs a good recession from time to time to wake them up and make them realise how powerless they truly are. How events beyond their control can reduce them to nothing, in an instant. It's a spiritual experience!

B. Thompson, UK

Poor guy, he's wasted about a sixth of his adult life waiting for something that still hasn't happened.

Probably very similar to some of the members here. :ph34r:

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Lots of eerie / depressing comments in there:

Like Duncan from London I am also praying for a recession to bring some sanity back to a housing market which is currently economically cleansing the South of its young people. Hopefully a bust will mean first-time buyers stand a chance of affording something bigger than a portaloo.

House prices will fall, jobs will decline, the credit card economy will come to its senses. Most of the boom was funded by borrowed money sooner or later the bills had to be paid. The best way now is to save money and sit it out.

Well I keep praying for a global recession as it's the only way I'm ever going to be able to afford a flat in London. Bring on the crash!

It was only ten years or so ago that everyone thought that Japan had discovered the perfect economic system. I think the same sort of hype and excesses have built up in the US and I think things could get quite unpleasant when banks start having to cope with loans that have gone bad after years of reckless lending. I would have to think that simultaneous recession in Japan and the US would have a serious impact on the UK too.

The 1990's were a period of extraordinary, unique, greed. A generation of people mortgaged the next generation's future. The "growth" of the 90's that everyone praised will be given back over the next decade.

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Poor sod. He saw house prices rise for another 6 years then in 2007 when he thought his long patience had paid off, he was told he would be bailing out MEW'd householders with SMI, ZIRP and QE and oh yea his job would be offshored to India and the ones remaining he would have to compete with a million new arrivals who could undercut him at every turn.

Tragic.

Not a lot of sense to it, little did he know how corrupt his rulers had become.

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  • 284 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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