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apom

The Yuppie Is Dead.. Long Live The Mewer..

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There are two types of investments.

Well there are many.. But I am going to mention two.

1) You find yourself with money you wish to invest. You approach a business either directly or through shares and you put the money there. Hopefully the business invests the money in itself, uses it to expand and make more profits.. Essentially its net worth will expand more then the money you put in. It is a business that generates money.

You are a Yuppie… of sorts. And you buy a BMW

but your days are gone.. your get rich days didn't last.. there is a new breed.. wiser.. stronger cleverer..

you are below...

2) You find yourself with a small mortgage on a property that is now worth more. You realise that you can remortgage to free up some of this equity and with the larger mortgage and the money you have borrowed you buy a BMW.

You are the new yuppie.. You are a mewer. Your investment is iron clad and cannot fail. Sometimes you wonder how with this massively expensive house you own and how much money it is worth why the monthly cost goes up.. weird.. you are constantly told how much richer you are.. and check out that car.. and your Rolex.. just that pesky mortgage.. it used to be cheaper.. and now interest rates are rising.. it stings.. a little.. luckily they can't rise any further..

But chin up.. you are rich.. you know you are..

Now I ask this question.

Is one of these richer then the other.?

Which one is convinced that he is richer?

Which one is part of a movement of "less" intelligent people who have bought the economy to its knees?

Which one hasn't realised that although they have equity, sometimes massively, over the mortgage.. The mortgage still represents the fact that they haven't actually bought the house yet all they seem to have done is move the possibility of owning it further away.... And no matter what it is worth.. They had better keep an eye on those payments..

What is weird..

Is that a cynical.. and sarcastic psot like this would have made sense to me.. even a month ago....

But we are now so firmly wrapped in an innevitable crash that I don't even feel the need....

It seems.. .. I am now fine with this all..

We have our crash..

http://www.proviser.com/regional/towns/exe...rend/index.html

Edited by apom

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Don't you just love that expression "free up some equity". Relying on Ghost sightings is not a great way to get yourself secure but nobody thought in 2003 that equity might actually be a phantasm that could dissipate as quickly and it had appeared.

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Guest Charlie The Tramp

The yuppie is not dead they are now called BTLetters. They now frequent the wine bars with their property portfolios under their arms boasting how rich they soon will be, how the rents pay the mortgage, while sharing a coke with four straws.

Mewers are mainly fools who do not realise that it is not free money and must be repaid.

I remember someone boasting to me that they had bought their property in Spain for cash. Well you must be very rich I replied. No said he I remortgaged my house for the money. :blink:

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The yuppie is not dead they are now called BTLetters. They now frequent the wine bars with their property portfolios under their arms boasting how rich they soon will be, how the rents pay the mortgage, while sharing a coke with four straws.

Mewers are mainly fools who do not realise that it is not free money and must be repaid.

I remember someone boasting to me that they had bought their property in Spain for cash. Well you must be very rich I replied. No said he I remortgaged my house for the money. :blink:

The successful yuppie of old probably owns the wine bar...

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Guest Charlie The Tramp

The successful yuppie of old probably owns the wine bar...

On Monday the 19th October 1987 the majority became lambs to the slaughter, gone in a puff of smoke.

<_<

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Guest

Hmmmm..... The trick, I suppose, would be to pass the liability for the property in Spain onto another person, through the mechanism we know as "Sale".

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On Monday the 19th October 1987 the majority became lambs to the slaughter, gone in a puff of smoke.

<_<

I think you have a blinkered view of what a a yuppie was back in the 80s Charlie.

I thought it was Young Upwardly mobile, Professional Person

The description covered quite a few careers! Anyone young and successful with a decadant lifestyle earned the nametag in the 80s.

I'm sure there are plenty of successful people who were classed as 80s yuppies who never went near the stock market.

They didn't all wear red braces BTW.

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Guest Charlie The Tramp

I think you have a blinkered view of what a a yuppie was back in the 80s Charlie.

I thought it was Young Upwardly mobile, Professional Person

Maybe I am talking about a certain group but those not in the investment markets themselves as I remember worked for companies who were into big time easy money making. Many by asset stripping of struggling companies who went to the wall in the early and mid 80s, and these others receiving very large bonuses as their companies made massive profits. Most of this money was financial driven and as the recession hit deeply they also went the same way. That is how I personally saw it, but yes I will agree some of those who made the big money, who were sensible, invested wisely are probably sitting pretty today.

My point was that the new amateur BTLetters act like those yuppies and like them many will go in a puff of smoke as the debt bubble pops. Many of these type of people I had as customers, always telling me how they had made it, only to see the executive type home go when the redundancies came or the finances turned nasty.

The description covered quite a few careers! Anyone young and successful with a decadant lifestyle earned the nametag in the 80s.

The vast majority being in finance IMHO

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i was too younbg to remember working with any, but i saw them on the news and on the 'if only everything was as reliable as a volkswagen' ads. sickly. also that young at heart song. i hated that.

mixed golf fashions. lots of news stills of commuter trains with open doors. real football violence and tenants extra. every poor working class boy wanted an XR3i (johns) or an Alfa SUD (horacios). i dont remember it all that well as i used to drink snakebite at the time, but those are the bits i remember.

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i was too younbg to remember working with any, but i saw them on the news and on the 'if only everything was as reliable as a volkswagen' ads. sickly. also that young at heart song. i hated that.

mixed golf fashions. lots of news stills of commuter trains with open doors. real football violence and tenants extra. every poor working class boy wanted an XR3i (johns) or an Alfa SUD (horacios). i dont remember it all that well as i used to drink snakebite at the time, but those are the bits i remember.

I went to college in the mid eighties. Blew my grant on a new motorbike and lived in an £8 a week student

sh!tpit with my bike parked in the front room by the telly. Bliss.

The girl in the VW Golf ads was quite foxy IMO...

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I went to college in the mid eighties. Blew my grant on a new motorbike and lived in an £8 a week student sh!tpit with my bike parked in the front room by the telly. Bliss.

The girl in the VW Golf ads was quite foxy IMO...

was it a DT125MX ?

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was it a DT125MX ?

No it was an Yamaha RD350LC YPVS. Cost me about £1800!

I got a special sponsorship grant which meant I got an extra £80 a week to go to college. (My mum worked in education and wangled it for me)

I blew it on finance for the bike...

I'm normally very careful with money, but if you've ever seen/ridden one of those bikes...

Edited by Without_a_Paddle

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I remember 2 blokes who had an estate agency in west london - new suits all the time, one had an xjs & the other a big merc, and they both had those mobile phones which were like the small suitcases with the handle & phone on top.

After the crash I saw them both working as cabbies driving beaten up old Datsuns

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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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