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John The Pessimist

Torygraph Shoe Shine Moment?

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On HPC calling the 'shoe shine moment' has been as prolific and effective a contra indicator as the notorious 'black xxxday' threads.

http://www.telegraph.co.uk/finance/property/house-prices/11478240/The-UK-homes-earning-more-money-than-their-owners.html

UK Houses earning more than their owners? The previous crash happened just seven years ago and it isn't even a folk memory to these people! I can't begin to describe how much I loathe and despise the British.

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Frankly I`m passed caring. Benefits + a small amount of my savings will see me through to retirement age....and without me doing a stroke of work.

10 years to go...10 years of paying council rent equals 25,000. (no that`s not 250,000!)

Anyway, we all die in the end, even us members of the anti-elite.

Edit,,,my wife pays half the rent.

Edited by council dweller

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A new Kawasaki as mentioned.

Also I did hang around in Japan for many years which taught me a couple of things. Number one...house prices never go up. Number two....save like a nutter (if you find you don't need it you can always buy a Kawasaki or two. Number three (I`m rollin`) Never underestimate the attraction of young girls.

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I spent a few years in Japan and Kawasaki was a place across the bay from me (I lived in Chiba) - where were you in Japan? Yes, they've gone through a 25 year decline in house prices. I hope for the sake of younger generations the UK goes through the same.

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Certainly where I am (Northampton), mortgage-debt-smugness is manifested in certain grating ways. One of them being condescension when I mention I rent. It's like "awwww, bless". Or...actually worse - when they get all expansive in discussion about finances - as if mortgage-debt-burden is a stage of enlightenment I've yet to attain.

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Arrived 1989, escaped 2004......There be dragons in the east,

I disliked Japan too (I'm being mild here, and am getting inference you weren't too enamoured by the place). Hard place, hard people, no benches to enjoy a sandwich.

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You can't eat bricks, but they don't half make you feel smug,

Smug!?

In a strange way....yes.

I let it go over my head.....whoosh it goes!!

:)

Just to be clear - I was talking about the smugness some home owners / money-borrowers can feel when they see their house prices have theoretically gone up in value. It seems to be surrogate feeling for actually making things / bettering your life in tangible ways these days.

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Btw, in 89 I was working in a scrap yard, removing parts from engines for 3.50 an hour. Later in 89 I was teaching English in Japan for 3,000 to 6,000 per hour.

I`m not sure which I liked better.....

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Certainly where I am (Northampton), mortgage-debt-smugness is manifested in certain grating ways. One of them being condescension when I mention I rent. It's like "awwww, bless". Or...actually worse - when they get all expansive in discussion about finances - as if mortgage-debt-burden is a stage of enlightenment I've yet to attain.

Reminds of a quote I read recently- " Two years ago I was a nobody- now I owe 2 million dollars!" This bizzare pride in being massively indebted as if the ability to borrow were a form of character reference, something to brag about.

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I've stopped reading the newspapers' (especially the DT's) articles on house prices, I've seen estimates of 'average' prices vary by 50-80k so I reckon it's all cherry-picking of data to suit an agenda. Which ever figures you look at are skewed, unrealistic and unsustainable.

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Reminds of a quote I read recently- " Two years ago I was a nobody- now I owe 2 million dollars!" This bizzare pride in being massively indebted as if the ability to borrow were a form of character reference, something to brag about.

IMO, most people have no idea of the concept of net worth nowadays. All that matters is what you 'own', regardless of how much debt you are in.

Eg, for most of society, except the very rich and very poor, debt was utterly taboo. Saying you were in debt was about as popular as saying you were a racist would be today. Then in the 30s mortgages and HP came along, and by the 70s had become respectable (HP changed to credit cards). However, cc debts were small, as were mortgages; the latter being seen as a sensible alternative to renting.

Fast forward to today and almost everything is on the never never - houses, cars, even phones, FFS.

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Certainly where I am (Northampton), mortgage-debt-smugness is manifested in certain grating ways. One of them being condescension when I mention I rent. It's like "awwww, bless". Or...actually worse - when they get all expansive in discussion about finances - as if mortgage-debt-burden is a stage of enlightenment I've yet to attain.

Yes, the place if full of uber-smug ******tards, especially in the souless estates clustered around a Waitrose near the M1.

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