Guest Posted April 15, 2016 Share Posted April 15, 2016 (edited) Enough is enough. My parents bought a detached bungalow in 1980 on a 3.5 x average salary mortgage. Look what has happened since. The gap between sensible mortgage and house price is plugged either by BOMAD or dangerous debt levels. #popthebubble Edited April 15, 2016 by Guest Quote Link to comment Share on other sites More sharing options...
katchytitle Posted April 15, 2016 Share Posted April 15, 2016 Maybe you should have become a doctor, lawyer, banker or started your own successful business? That's the only way to keep up. If you expect someone to pay you above average wage increases in a neoliberal democracy (that the majority keep voting for) then this is exactly what happens. Each man for himself! That's the way to build a country! Good luck Quote Link to comment Share on other sites More sharing options...
spunko2010 Posted April 15, 2016 Share Posted April 15, 2016 I run a successful business. I'm not buying into it until there's a correction. Quote Link to comment Share on other sites More sharing options...
“Nasty Piece of work” Posted April 15, 2016 Share Posted April 15, 2016 Maybe you should have become a doctor, lawyer, banker or started your own successful business? That's the only way to keep up. If you expect someone to pay you above average wage increases in a neoliberal democracy (that the majority keep voting for) then this is exactly what happens. Each man for himself! That's the way to build a country! No - it has nothing to with the individuals job, just the PTB kicking a broom stick up your back passage (sideways). Quote Link to comment Share on other sites More sharing options...
Guest Posted April 15, 2016 Share Posted April 15, 2016 Maybe you should have become a doctor, lawyer, banker or started your own successful business? That's the only way to keep up. If you expect someone to pay you above average wage increases in a neoliberal democracy (that the majority keep voting for) then this is exactly what happens. Each man for himself! That's the way to build a country! Good luck The problem is average salaries don't buy average houses.... you need doctors' salaries to buy 3 bed semis! And in london you need a PM salary to buy a 1 bed flat! Quote Link to comment Share on other sites More sharing options...
mattyboy1973 Posted April 15, 2016 Share Posted April 15, 2016 Maybe you should have become a doctor, lawyer, banker or started your own successful business? That's the only way to keep up. If you expect someone to pay you above average wage increases in a neoliberal democracy (that the majority keep voting for) then this is exactly what happens. Each man for himself! That's the way to build a country! Good luck The connection between "hard work" and getting ahead is almost completely broken now. Without a very hefty deposit, a hospital consultant on 70k would struggle to buy a 1 bedder in Hackney now. In fact, on any sort of sane mortgage multiplier (3.5x) she couldn't even buy that. Quote Link to comment Share on other sites More sharing options...
200p Posted April 15, 2016 Share Posted April 15, 2016 Meh, just looks like the start of a hockey stick graph Quote Link to comment Share on other sites More sharing options...
winkie Posted April 15, 2016 Share Posted April 15, 2016 It has little to do with what job you have, what education you had, how intelligent you are or how hard you work....has more to do with who you were born to, and how much help they can give you...... Quote Link to comment Share on other sites More sharing options...
R K Posted April 15, 2016 Share Posted April 15, 2016 houses are intentionally being rationed for those on higher salaries/deposits Builders will only build what they can sell There is no swing producer (State) Everyone else forced into private rentier sector Quote Link to comment Share on other sites More sharing options...
onlyme2 Posted April 15, 2016 Share Posted April 15, 2016 I've drained my busines of all the money in it, I won't be employing anyone else, won't be having to spend any money on premises or much else. to buy a house without a mortgage designed to enrich the banking sector. Ok ish for me, crap for the economy as a whole. Quote Link to comment Share on other sites More sharing options...
onlyme2 Posted April 15, 2016 Share Posted April 15, 2016 houses are intentionally being rationed for those on higher salaries/deposits Builders will only build what they can sell There is no swing producer (State) Everyone else forced into private rentier sector Builders are like sharks and any other business. Carry on moving or they'll die. Quote Link to comment Share on other sites More sharing options...
winkie Posted April 15, 2016 Share Posted April 15, 2016 (edited) I've drained my busines of all the money in it, I won't be employing anyone else, won't be having to spend any money on premises or much else. to buy a house without a mortgage designed to enrich the banking sector. Ok ish for me, crap for the economy as a whole. The economy as a whole can no longer compete........only so many available routes to the top....the top is protected for top people. Edited April 15, 2016 by winkie Quote Link to comment Share on other sites More sharing options...
janch Posted April 15, 2016 Share Posted April 15, 2016 Read "Capital" by Piketty. He reckons we are returning to the society of 18th century where there was zero inflation, everyone knew their place and there were rentiers and the rest. He has graphs to prove it too. The last century was an aberration with 2 world wars levelling the playing field for a while. There with that summary I've saved you the trouble of reading the book Quote Link to comment Share on other sites More sharing options...
Guest Posted April 15, 2016 Share Posted April 15, 2016 It's disgusting - but I don't know how much longer I can hold out. Fifteen years of renting and five of sharing with strangers has not been fun. If I manage to get myself into a position where I can afford a mortgage this year, I'll probably take it, despite the historically unfair prices. There's only so long you can be angry at a society almost totally deaf to your grievance before your energy runs out. Quote Link to comment Share on other sites More sharing options...
Guest Posted April 15, 2016 Share Posted April 15, 2016 Read "Capital" by Piketty. He reckons we are returning to the society of 18th century where there was zero inflation, everyone knew their place and there were rentiers and the rest. He has graphs to prove it too. The last century was an aberration with 2 world wars levelling the playing field for a while. The thing I don't get is that there appears to be a sizeable majority of people who either don't believe that this is happening - despite the evidence and statistics staring them in the face - or, worse, who are just fine with a neo-feudal outcome. Their kids will be ok, right, so who cares if some kid from a council estate needs to rent? Never mind that the kid from a council estate could have spent ten years training to be a doctor, or similar, and still be stuffed. Quote Link to comment Share on other sites More sharing options...
jamie77 Posted April 15, 2016 Share Posted April 15, 2016 It has little to do with what job you have, what education you had, how intelligent you are or how hard you work....has more to do with who you were born to, and how much help they can give you...... Perhaps the main problem is the insufficiency of inheritance tax. Quote Link to comment Share on other sites More sharing options...
katchytitle Posted April 15, 2016 Share Posted April 15, 2016 (edited) I think everyone on here has spoken to people who are intellectually blind to the facts they are poorer than ever if you exclude debt. One of the hallmarks of the last 30 years has been convincing people that they will be looked after by the state and their children will be too. Once that myth ends for the majority you are going to see structural changes in the majority and there will be a gross period of uncertainty where house prices will be the least of our worries. On the other hand, like an animal, it can be argued that human beings can be tamed and domesticated so that as long as their basic needs are met they do not have the requirement to want freedom. If that has happened for the majority of plebs, we are indeed in the Piketty scenario where everyone knows their place. Edited April 15, 2016 by katchytitle Quote Link to comment Share on other sites More sharing options...
Agentimmo Posted April 15, 2016 Share Posted April 15, 2016 so who cares if some kid from a council estate needs to rent? Never mind that the kid from a council estate could have spent ten years training to be a doctor, or similar, and still be stuffed. The council estate kids and many others that are locked out from society won't put up with the status quo. History shows they tend to riot when change has stalled. Hope I'm still alive to see it..... Quote Link to comment Share on other sites More sharing options...
Fromage Frais Posted April 15, 2016 Share Posted April 15, 2016 Maybe you should have become a doctor, lawyer, banker or started your own successful business? That's the only way to keep up. If you expect someone to pay you above average wage increases in a neoliberal democracy (that the majority keep voting for) then this is exactly what happens. Each man for himself! That's the way to build a country! Good luck Consultant surgeons can earn a basic salary of between £75,249 and £101,451 per year https://nationalcareersservice.direct.gov.uk/advice/planning/jobprofiles/Pages/surgeon.aspx Family house near hospital in nr2/nr4 350 with loads over 500/600k Quote Link to comment Share on other sites More sharing options...
Fromage Frais Posted April 15, 2016 Share Posted April 15, 2016 Perhaps the main problem is the insufficiency of inheritance tax. I don't think thats on people's horizon the profits have come so far so fast its viewed as a get rich scheme. I literally had the "you can't fail to make money with property' line from a relative who has a multi million £ turnover technology business. Why not concentrate on that FFS why go for BTL on top when none of your money was made that way. Taxes that directly attack speculation and the cost of carry are the only real solutions. Quote Link to comment Share on other sites More sharing options...
“Nasty Piece of work” Posted April 15, 2016 Share Posted April 15, 2016 Consultant surgeons can earn a basic salary of [/size]between £75,249 and £101,451 per year[/size] 350 with loads over 500/600k Don't get me wrong, surgeons are probably worth a lot more, but 15 years HE / training, I don't see them flipping burgers.... Quote Link to comment Share on other sites More sharing options...
winkie Posted April 15, 2016 Share Posted April 15, 2016 Perhaps the main problem is the insufficiency of inheritance tax. No I wouldn't say that, only a relatively small percentage of the population at the moment pay any inheritance tax at all...mostly the working middle classes.......the problem being is those who have the most do not pay it.......I would rather a tax on wealth not income with a reduction in sales tax, VAT. Another one of the very unfair things about inheritance tax is the fact that single people with and without children pay double.....totally wrong and highly prejudice policy. Quote Link to comment Share on other sites More sharing options...
Zzzzzzzzzzzzzzzzzzzzzzzzzz Posted April 15, 2016 Share Posted April 15, 2016 (edited) Maybe you should have become a doctor, lawyer, banker or started your own successful business? That's the only way to keep up. If you expect someone to pay you above average wage increases in a neoliberal democracy (that the majority keep voting for) then this is exactly what happens. Each man for himself! That's the way to build a country! Good luck What dystopian nonsense - if the average Joes experience housing problems and lack disposable income, then the wider economy goes down with them - try reading Stiglitz. Neoliberal and democracy don't go together, btw. Nor do neoliberalism and growth... hence the current growth crisis. Edited April 15, 2016 by gruffydd Quote Link to comment Share on other sites More sharing options...
Noallegiance Posted April 15, 2016 Share Posted April 15, 2016 Neoliberal and democracy don't go together, btw. Nor do neoliberalism and growth... hence the current growth crisis. Not sure about that. Crony capitalism is this mess. Government getting out of the way of everything is what's needed. Quote Link to comment Share on other sites More sharing options...
Zzzzzzzzzzzzzzzzzzzzzzzzzz Posted April 15, 2016 Share Posted April 15, 2016 Not sure about that. Crony capitalism is this mess. Government getting out of the way of everything is what's needed. We've had crony capitalism since time began - read up about financialization... that's the problem - governments of course facilitate it as they're so corrupt these days. Quote Link to comment Share on other sites More sharing options...
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