Jump to content
House Price Crash Forum
Sign in to follow this  
SillyBilly

Britain For Sale £8 Trillion

Recommended Posts

http://www.msn.com/en-gb/money/news/britain-for-sale-%C2%A38-trillion-or-nearest-offer/ar-BBnUHMi?li=AA9SkIr&ocid=wispr

Quite an unbelievable article really when you drill down into it. Basically, they've added up all of the assets of the country and came to the conclusion that 5/8 of the country's total worth is its housing stock...

"The housing stock was valued at £5.1 trillion, or more than 60 per cent of the total price tag.

Between 2013 and the end of 2014, the houses in Britain increased in value by £408 billion, or nine per cent, and by £3.7 trillion since 1997.

The rise was mainly down to increasing house prices rather than to more homes being built, the ONS said."

Seriously, are we this screwed? Is all we are one big housing ponzi scheme?

Share this post


Link to post
Share on other sites

Britain's £8 trillion total worth figure ties in with a total real national debt of £7.87 trillion (including all liabilities) calculated by the taxpayers alliance in 2010.

There's been extra debt and London's house price increases since 2010 - Britain just gets richer and richer.

Edited by billybong

Share this post


Link to post
Share on other sites

Would n't be worth that much if there was no other economic activity to support it. In fact they would quickly crash to almost nothing.

Makes you wonder why we allow the "housing industry" to crowd out other industries.

Share this post


Link to post
Share on other sites

Would n't be worth that much if there was no other economic activity to support it. In fact they would quickly crash to almost nothing.

Makes you wonder why we allow the "housing industry" to crowd out other industries.

We havent gone under purely because foreigners are willing to fund our profligacy, in no small part due to the regulatory environment allowing for what would be considered money laundering by any other name.

I guess thats economic activity, but if the only things to come for it are elevated housing costs and a bloated state, im not sure its that beneficial to the typical middle earner.

Share this post


Link to post
Share on other sites

Reminds me of Christmas dinner with family and friends.

Me- "I think the best thing to do with discretionary income after finding a modestly small place to live is to invest in a business, if you have the skills to do one."

A female friend of the family who is actually quite smart/ educated- "Oh no, that's silly. You should be investing in bricks and mortar, get on the housing ladder as soon as possible. It's the easiest way to make money, prices are always going up. Can't go wrong with bricks and mortar for a safe long term income."

Cue everyone at the table except me speaking in agreement.

Soon after that she started espousing how she would like to do a business, perhaps with me since she thinks I'm smart. I mention that I would be interested if I had a small amount of capital to invest into it regularly. Then she says "oh no, I wouldn't want to invest any money.". So here's a person who will happily spend over 1k/ month on a mortgage in the hopes of getting rich from the property bubble but wouldn't spend any money on a real business.

The sad part is she is actually smarter than most British people yet still follows the mantra and hype for house prices. I think it's an age thing, she's part of the older generation so they've already earned a lot of money from the property bubble and moved up the ladder.

Share this post


Link to post
Share on other sites

Seriously, are we this screwed? Is all we are one big housing ponzi scheme?

In my view we are a nation of house flippers, coffee makers and restaurant eaters. At each stage we pretend that our paper wealth means something. :lol::lol::lol::lol:

Seems to me that this country/economy is ******ed and needs building from the ground up.

Roll on 41 years from now when I can retire :rolleyes::rolleyes:

Share this post


Link to post
Share on other sites

In my view we are a nation of house flippers, coffee makers and restaurant eaters. At each stage we pretend that our paper wealth means something. :lol::lol::lol::lol:

Seems to me that this country/economy is ******ed and needs building from the ground up.

Roll on 41 years from now when I can retire :rolleyes::rolleyes:

we are also probably the world's largest hedge fund and laundromat. Most of that is off-book. That's where the house ponzi crowd are correct, just they don't know why.

Share this post


Link to post
Share on other sites

In my view we are a nation of house flippers, coffee makers and restaurant eaters. At each stage we pretend that our paper wealth means something. :lol::lol::lol::lol:

Seems to me that this country/economy is ******ed and needs building from the ground up.

Roll on 41 years from now when I can retire :rolleyes::rolleyes:

You use the LOL emoticons in the wrong place.

You should use them for this phrase: "Roll on 41 years from now when I can retire".

If you are around in 41 years (having survived the transfer of world power away from the Anglo American empire), the idea of a safe comfortable retirement will be a legend that you pass on to your grandchildren (before they have to part with their internal organs IAW the debt deal incurred by previous generations).

I agree with your assessment of the UK economy.

Share this post


Link to post
Share on other sites

Create an account or sign in to comment

You need to be a member in order to leave a comment

Create an account

Sign up for a new account in our community. It's easy!

Register a new account

Sign in

Already have an account? Sign in here.

Sign In Now
Sign in to follow this  

  • Recently Browsing   0 members

    No registered users viewing this page.

  • The Prime Minister stated that there were three Brexit options available to the UK:   216 members have voted

    1. 1. Which of the Prime Minister's options would you choose?


      • Leave with the negotiated deal
      • Remain
      • Leave with no deal

    Please sign in or register to vote in this poll. View topic


×

Important Information

We have placed cookies on your device to help make this website better. You can adjust your cookie settings, otherwise we'll assume you're okay to continue.