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Jolly Roger

Overheard on the train

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Recently on a train in to London, I had been enjoying the peace and tranquility of the quiet carriage for a couple of hours when at Reading a gaggle of young girls got on, obviously on their way into the city for a bit of night life, already having cracked into some tins and prosecco.

These girls were your typical made up "basic bitch" type, like something out of TOWIE or Mean Girls, and didn't understand the concept of a quiet carriage (certainly they looked illiterate), yelling at each other constantly, though everyone was too British to say anything.

In between snatches of talk about Tinder and boys which I couldn't help but overhear, before we alighted at Paddington the conversation switched to property and mortgages. One girl was being questioned as to her employment status, asked if she was technically self-employed or a contractor, and a girl confirmed that her status as contractor (in what field I didn't glean) wouldn't affect the amount she could borrow.

The hopeful buyer was looking to borrow at least 165k, and another assured her that she borrowed around that amount on 37k, and the other girl was on 38k with no overtime so shouldn't have too many problems. Now I didn't catch anything about partners or deposit amounts, but those ratios seem crazy for a single buyer, surely?

Just as we queued to exit the train, one who had already bought turned round and said her place had gone from 180 to 220k in a couple years (presumably this is in the Reading area), with a delightfully satisfied grin.

One thing to have been rudely disturbed on an expensive train journey, another to learn these girls were on higher salaries than I am. Also interesting to see the "normie" attitudes towards property laid bare in real life.

Is it unreasonable to hope these people's dreams of speculation and mad gainz get hopelessly and totally crushed?

 

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165k + deposit for a flat in Reading that isn't reduced for over 60's or shared ownership?

what are they buying? A shed?

Edited by Arpeggio

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1 hour ago, Jolly Roger said:

Recently on a train in to London, I had been enjoying the peace and tranquility of the quiet carriage for a couple of hours when at Reading a gaggle of young girls got on, obviously on their way into the city for a bit of night life, already having cracked into some tins and prosecco.

These girls were your typical made up "basic bitch" type, like something out of TOWIE or Mean Girls, and didn't understand the concept of a quiet carriage (certainly they looked illiterate), yelling at each other constantly, though everyone was too British to say anything.

In between snatches of talk about Tinder and boys which I couldn't help but overhear, before we alighted at Paddington the conversation switched to property and mortgages. One girl was being questioned as to her employment status, asked if she was technically self-employed or a contractor, and a girl confirmed that her status as contractor (in what field I didn't glean) wouldn't affect the amount she could borrow.

The hopeful buyer was looking to borrow at least 165k, and another assured her that she borrowed around that amount on 37k, and the other girl was on 38k with no overtime so shouldn't have too many problems. Now I didn't catch anything about partners or deposit amounts, but those ratios seem crazy for a single buyer, surely?

Just as we queued to exit the train, one who had already bought turned round and said her place had gone from 180 to 220k in a couple years (presumably this is in the Reading area), with a delightfully satisfied grin.

One thing to have been rudely disturbed on an expensive train journey, another to learn these girls were on higher salaries than I am. Also interesting to see the "normie" attitudes towards property laid bare in real life.

Is it unreasonable to hope these people's dreams of speculation and mad gainz get hopelessly and totally crushed?

 

Income or jobs?

Depending in their age they might be singke parents on tax credits.

Or some BS, soul destroying sales job thatll burn thru their friends and families.

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31 minutes ago, Arpeggio said:

165k + deposit for a flat in Reading that isn't reduced for over 60's or shared ownership?

what are they buying? A shed?

If they were that obnoxious then theres a strong chance of BOMAD being involved somewhere

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I tweeted a poll last week asking, "house prices dropping 50% in two years would be... great, good, bad, terrible" and got mixed response. Then asked another, "house prices dropping 50% would be.... good (I own), bad (I own), good (I don't own) and bad (I don't own)" and everyone who owned said bad, everyone who doesn't own said good.

So there you go, if you own a home (whatever size) then prices going up is great, even if it means you'll ever be able to sell it and never be able to buy anything bigger.

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Wow. Really unpleasant tone to this opening post. 

So basically some young women have the temerity to get on the train on the way to enjoy themselves on a night out and have the temerity to earn more than the economic sages on hpc AND own property to boot? Get back in the kitchen, wenches! 

As for what they would do to "bring in such a sum", a newly qualified professional (eg chartered accountant), trades or even a well paid sales role (say Audi/BMW dealership) will bring in about that up here in the Midlands, I would guess a bit more down in Reading. Hardly Rockerfeller money.

£38k will bring in about £2250 A month net (depending on student loan etc). Borrowing  £165k, even with a 10% deposit, will set you back £700 a month at most. Again, hardly casino banker worthy. 

So yes, I'd suggest you are being a little bit unreasonable. These kind of people aren't your enemies to be honest. They're not the btlers driving up the market, just people living their lives. The fact that a group of "TOWIE style" women earn more money than an intellectual giant like you says more about your own insecurities than it does anything else.

Hope this helps. 

 

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I can symphatize with the OP on the disturbance issue, but other than that I fail to see what the beef is about. Apparently those young people earn good money in their jobs and decided to buy a place to live. Not a very shrewd financial move in my opinion, but there's nothing wrong with that.

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19 minutes ago, Hullabaloo82 said:

 

£38k will bring in about £2250 A month net (depending on student loan etc). Borrowing  £165k, even with a 10% deposit, will set you back £700 a month at most. Again, hardly casino banker worthy. 

 

 

Tbh I would sooner have shares in a hedge fund than lend to one of those girls peer to peer. I think the former would be safer.

That aside, good on them for earning the sort of money that will pay back their university fees, good on them for splashing out more in one night than I probably do in a month and keeping the Government in vat and excise duty. And at least they are not taking up a council flat as refurbs can cost 100k per unit to the taxpayer apparently.

They appear to be doing all the working and spending so some of us don't have to.

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2 hours ago, Jolly Roger said:

Is it unreasonable to hope these people's dreams of speculation and mad gainz get hopelessly and totally crushed?

 

Although I can't agree with all of your post, on this point i am with you.

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11 minutes ago, crashmonitor said:

Tbh I would sooner have shares in a hedge fund than lend to one of those girls peer to peer. I think the former would be safer.

That aside, good on them for earning the sort of money that will pay back their university fees, good on them for splashing out more in one night than I probably do in a month and keeping the Government in vat and excise duty. And at least they are not taking up a council flat as refurbs can cost 100k per unit to the taxpayer apparently.

They appear to be doing all the working and spending so some of us don't have to.

Wait a minute, I thought it was Jolly Roger's train journey that was rudely interrupted? You there as well, were you?

If not, that's some pretty sophisticated credit checking software you've got that's able to judge how creditworthy someone is based on a short paragraph written by somebody else on an internet forum.

As for the second part of your post, I'm really not sure what you're getting (beyond one of these blatant cognitive dissonance "I'm the real winner because I do all my shopping at Aldi, never go out and don't earn enough to pay taxes" kind of posts that people love on this forum) but I'll bite. 

A return from Reading to Paddington of an evening costs about £20. Couple of tube journeys 5-10 quid depending on if you own an Oyster card. Cheap ticket to a show, £30? Dinner at a Pizza Express type place and a couple glasses of wine £30 each? Or a few rounds of cocktails £50? Comfortably under a ton either way.

For somebody earning best part of £40k a year, that's not an unreasonable sum to splash out on enjoying yourself every now and again. Provided it's not an "all the time occurrance" and you're reasonably frugal the rest of the time, it's still more than compatible with paying a mortgage and saving a few quid, even more so if you live with a partner earning similar. 

The level of judgmental on this site is off the charts some times. 

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4 minutes ago, Hullabaloo82 said:

Wait a minute, I thought it was Jolly Roger's train journey that was rudely interrupted? You there as well, were you?

If not, that's some pretty sophisticated credit checking software you've got that's able to judge how creditworthy someone is based on a short paragraph written by somebody else on an internet forum.

As for the second part of your post, I'm really not sure what you're getting (beyond one of these blatant cognitive dissonance "I'm the real winner because I do all my shopping at Aldi, never go out and don't earn enough to pay taxes" kind of posts that people love on this forum) but I'll bite. 

A return from Reading to Paddington of an evening costs about £20. Couple of tube journeys 5-10 quid depending on if you own an Oyster card. Cheap ticket to a show, £30? Dinner at a Pizza Express type place and a couple glasses of wine £30 each? Or a few rounds of cocktails £50? Comfortably under a ton either way.

For somebody earning best part of £40k a year, that's not an unreasonable sum to splash out on enjoying yourself every now and again. Provided it's not an "all the time occurrance" and you're reasonably frugal the rest of the time, it's still more than compatible with paying a mortgage and saving a few quid, even more so if you live with a partner earning similar. 

The level of judgmental on this site is off the charts some times. 

I wasn't talking about the credit worthiness of the girls I was concerned about the collateral....a home in Reading at today's prices. So it's you that appear to be jumping to wrong judgements.

As for the second part I really am grateful for  hard working young people since I am retired early and the country really would be on trouble if we all decided to.

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Hullabaloo82, you are more upset at the OP than the OP sounds, the OP just sounds shocked at the whole situation. (Lack of judgement regarding house prices witnessed in a public place and how surprising it is that these people are paid.)

Let go. Live and let live. Why you've made it into a social justice thing is confusing and irrelevant.

Edited by phantominvestor

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3 hours ago, Jolly Roger said:

on 37k, and the other girl was on 38k with no overtime.

If it was 50k she might have said it a little louder?

If it were said by a male I would think the same.

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1 hour ago, Hullabaloo82 said:

Wow. Really unpleasant tone to this opening post.

 

Eh.

Of course it is within the realms of possibility these women were all really talented with productive, skilled jobs and that they are lovely people to boot, however I don't know them so can only judge based on how they carried and conducted themselves.  Just found it all a bit obnoxious.

I wish them no real harm, they are market participants after all and I wouldn't begrudge anyone using BOMAD if that is indeed the case here.  Likewise I am free to attempt a house purchase any time and indeed could seek a job with a higher salary if I so wished, but make my decisions, good or bad, according to the circumstances.

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1 hour ago, Hullabaloo82 said:

Wait a minute, I thought it was Jolly Roger's train journey that was rudely interrupted? You there as well, were you?

If not, that's some pretty sophisticated credit checking software you've got that's able to judge how creditworthy someone is based on a short paragraph written by somebody else on an internet forum.

As for the second part of your post, I'm really not sure what you're getting (beyond one of these blatant cognitive dissonance "I'm the real winner because I do all my shopping at Aldi, never go out and don't earn enough to pay taxes" kind of posts that people love on this forum) but I'll bite. 

A return from Reading to Paddington of an evening costs about £20. Couple of tube journeys 5-10 quid depending on if you own an Oyster card. Cheap ticket to a show, £30? Dinner at a Pizza Express type place and a couple glasses of wine £30 each? Or a few rounds of cocktails £50? Comfortably under a ton either way.

For somebody earning best part of £40k a year, that's not an unreasonable sum to splash out on enjoying yourself every now and again. Provided it's not an "all the time occurrance" and you're reasonably frugal the rest of the time, it's still more than compatible with paying a mortgage and saving a few quid, even more so if you live with a partner earning similar. 

The level of judgmental on this site is off the charts some times. 

Glad you dropped in on HPC to give us the benefit of your wisdom.

Are there any more lessons on life you care to share.

I assume once you have finished passing judgement on posters here you will be returning to your throne in heaven.

 

Edited by stormymonday_2011

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5 hours ago, Jolly Roger said:

 

Is it unreasonable to hope these people's dreams of speculation and mad gainz get hopelessly and totally crushed?

 

Yes

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5 hours ago, Hullabaloo82 said:

Wow. Really unpleasant tone to this opening post. 

So basically some young women have the temerity to get on the train on the way to enjoy themselves on a night out and have the temerity to earn more than the economic sages on hpc AND own property to boot? Get back in the kitchen, wenches! 

As for what they would do to "bring in such a sum", a newly qualified professional (eg chartered accountant), trades or even a well paid sales role (say Audi/BMW dealership) will bring in about that up here in the Midlands, I would guess a bit more down in Reading. Hardly Rockerfeller money.

£38k will bring in about £2250 A month net (depending on student loan etc). Borrowing  £165k, even with a 10% deposit, will set you back £700 a month at most. Again, hardly casino banker worthy. 

So yes, I'd suggest you are being a little bit unreasonable. These kind of people aren't your enemies to be honest. They're not the btlers driving up the market, just people living their lives. The fact that a group of "TOWIE style" women earn more money than an intellectual giant like you says more about your own insecurities than it does anything else.

Hope this helps. 

 

Agreed.

£37K isn't anything special. I work in central London but I doubt there is anybody in my office earning much less than that.

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On 7/16/2017 at 6:06 PM, Hullabaloo82 said:

Wow. Really unpleasant tone to this opening post. 

So basically some young women have the temerity to get on the train on the way to enjoy themselves on a night out and have the temerity to earn more than the economic sages on hpc AND own property to boot? Get back in the kitchen, wenches! 

As for what they would do to "bring in such a sum", a newly qualified professional (eg chartered accountant), trades or even a well paid sales role (say Audi/BMW dealership) will bring in about that up here in the Midlands, I would guess a bit more down in Reading. Hardly Rockerfeller money.

£38k will bring in about £2250 A month net (depending on student loan etc). Borrowing  £165k, even with a 10% deposit, will set you back £700 a month at most. Again, hardly casino banker worthy. 

So yes, I'd suggest you are being a little bit unreasonable. These kind of people aren't your enemies to be honest. They're not the btlers driving up the market, just people living their lives. The fact that a group of "TOWIE style" women earn more money than an intellectual giant like you says more about your own insecurities than it does anything else.

Hope this helps. 

 

Probably the best post on this thread. Total misogynist tone to your post there Jolly.  

And don't give  that 'I don't mean them any harm' because your tone and the way you described them was pretty outrageous. You either don't have daughters, or sisters, or a mother for that matter because any man who thinks it's OK to speak about woman like that is an a/hole quite frankly.

 

 

 

 

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It must be me but I really don't see much wrong with the OP's comments.  He was in a quiet carriage that was taken over by exited, bubbly people who then proceeded to boast and speculate about property acquisition and gains.  As a long term renter I feel no sympathy for them or their behavior as described by Jolly.

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