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LittlePig

Housing crisis could push young voters to extremes, says former Whitehall chief

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Extreme?  Manipulating the housing market to exclude a generation is pretty extreme.  Shed-dwelling is extreme.  20 in a 3-bed is extreme.  10 x income ratio is extreme.

But instead, let's paint it like building houses, or reducing immigration to match the houses we already have, is the extreme thing to do.

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As someone with kids I desperately want to own a home.. I need security, I want to decorate it as I choose, change the garden to grow veg and have a pond.. i can’t do anything to a crappy BTL and the landlord is more than happy that the soffits pour water, the electrics are dodgy and the tap leaks.. 

Its a dump.. an expensive dump! And it sucks my wages from my bank so my landlord can live like a king.. it’s just slavery.. 

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5 minutes ago, macca13 said:

As someone with kids I desperately want to own a home.. I need security, I want to decorate it as I choose, change the garden to grow veg and have a pond.. i can’t do anything to a crappy BTL and the landlord is more than happy that the soffits pour water, the electrics are dodgy and the tap leaks.. 

Its a dump.. an expensive dump! And it sucks my wages from my bank so my landlord can live like a king.. it’s just slavery.. 

put it in writing if you're feeling confident, I got a "letter" from a plucky couple with a baby in one of my props a few months back along the same lines, basically moaning that they weren't living in the ritz. My response? Just banged the rents up. That soon shut em up.

 

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51 minutes ago, LittlePig said:

As a young(ish) person I don't want to own a house. I just want a secure, protected tenancy that is affordable on a average/below-average wage.

I agree with this as I think that (when it was possible) too many people get tied down too early and may not explore other opportunities as there's added faff when selling.  But the situation now is that there's no chance of putting down roots even if young people wanted to. If the situation continues or gets worst, I can see a way out for young people other than mass emigration. 

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15 minutes ago, UnconventionalWisdom said:

I agree with this as I think that (when it was possible) too many people get tied down too early and may not explore other opportunities as there's added faff when selling.  But the situation now is that there's no chance of putting down roots even if young people wanted to. If the situation continues or gets worst, I can see a way out for young people other than mass emigration. 

The priced out are currently the gifted ones.  What kind of political system enables the general public to get into so much debt for basic housing needs? ... yeah, exactly.

Brace yourselves, winter has arrived.

Edited by blackhole

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1 hour ago, LittlePig said:

As a young(ish) person I don't want to own a house. I just want a secure, protected tenancy that is affordable on a average/below-average wage.

A very reasonable ask; for the UK to move towards a far more productive mindset (not this crazy rent-seeker extreme model we currently have), this is a basic requirement. 

I don't think money markets honestly believe that the public + private debt consumption levels - especially in the face of QE being reversed - can be sustained, which may well lead to less financial liquidity to rent-seeking types of activities.    Though risk pricing appears to be faulty, for now at least.

Edited by blackhole

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13 minutes ago, blackhole said:

The priced out are currently the gifted ones.  What kind of political system enables the general public to get into so much debt for basic housing needs? ... yeah, exactly.

Brace yourselves, winter has arrived.

A one bedroom flat where I live (SE, outside M25, 40 min train ride to London) was up for 220k. Average salery 28k. You've got to be mad to be a young person and think that's a good deal- especially when you also have to include the service charge (which could increase at any time). That purchase could ruin your life 

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7 minutes ago, UnconventionalWisdom said:

A one bedroom flat where I live (SE, outside M25, 40 min train ride to London) was up for 220k. Average salery 28k. You've got to be mad to be a young person and think that's a good deal- especially when you also have to include the service charge (which could increase at any time). That purchase could ruin your life 

Indeed, good luck to the buyer at those prices, they'll need it.  The priced out truly are gifted, they'll realise with time.

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In previous generations, it's students that were at the heart of youth rebellion.

Today's students face a debt that would have bought them a flat in a years gone by. It's not a coincidence that this has gone hand-in-hand with a decline in student activism. 

The debt helps keep them in check.

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49 minutes ago, Tempus said:

In previous generations, it's students that were at the heart of youth rebellion.

Today's students face a debt that would have bought them a flat in a years gone by. It's not a coincidence that this has gone hand-in-hand with a decline in student activism. 

The debt helps keep them in check.

I agree that students don't revolt anymore but don't get why hiking the tuition fees had an effect. It's not like you get your legs broken if you don't pay you loan repayments. 

I went to uni in 2004 so had tuition fees but not huge ones. I also worked at wilko at the time and was forever being called a tax dodger by the other staff. Students these days get such a raw deal that noone makes those sorts of jokes with them anymore. 

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According to the most read ranking, this article doesn't even make the top ten. Number one is about labour losing support due to their Brexit stance. I can't understand why people are more angry about Brexit than the crazy housing situation. Things would change if everyone turned their anger towards btl landlords. 

Edited by UnconventionalWisdom

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It’s too late now. They - and I mean all of them because let’s not pretend that a labour gov wouldn’t have done something similar - messed it up royally (or rather they achieved their goal - another term until they shot themselves in the foot with the brexit vote) in 2013 with HtB and they can’t reverse it. 

So now It’s a mass up yours to the politically system or a take over by stealth that will happen. The oldies can’t change the demographics. 

Smart young people should know the score.

option 1) Get a job in the city, sell your soul, earn shed loads, go for a FiRE strategy and achieve escape velocity. Do what you have to do to get to a 6 figure income. Pillage for 10 years then do option 3.....

Option 2) Play the tax credits and universal credit system for all its worth. Take on the student debt, have fun and never get a job that’ll pay enough to start paying it back anyway, and if you do, stuff that extra income into the pension and pay no tax. Why not have a family too and claim TC, given that 100% of pension contribs are ignored? 

Option 3) Just Get the hell out of here. If you can get into to Silicon Valley, do it.

Option 4) get crypto.

For most, option 2 makes the most sense. Milky milky this system. Not one person should judge them for doing this. They have been shafted and  their voices not heard. 

 

 

Edited by Frugal Git

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21 minutes ago, Frugal Git said:

It’s too late now. They - and I mean all of them because let’s not pretend that a labour gov wouldn’t have done something similar - messed it up royally (or rather they achieved their goal - another term until they shot themselves in the foot with the brexit vote) in 2013 with HtB and they can’t reverse it. 

Yep, Corbyn's election manifesto stated that HTB would be extended into the 2020s. New Labour = Tories, so no change there either. Lib Dems? LOL!

 

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More banal writing from the Guardian.  Talk about stating the obvious, with its obligatory spin.  And the guy was made a lord.  BS all round.  One must have a lot of low value time to waste to read the Guardian.

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59 minutes ago, Frugal Git said:

Smart young people should know the score.

Unfortunately I think you've hit the nail on the head. But if this is the case, the UK will be ruined- noone who is young now can reach full potential in the UK and if they leave then another country will benefit from their hard work. 

(P.s. Had an online German lesson earlier to aid a possible escape route).

Edited by UnconventionalWisdom

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25 minutes ago, Fence said:

More banal writing from the Guardian.  Talk about stating the obvious, with its obligatory spin.  And the guy was made a lord.  BS all round.  One must have a lot of low value time to waste to read the Guardian.

The guardian labs section paid for by Lloyd's bank is disgusting. Basically convincing young people to accept the poor standards and sell their futures so the hpi mess continues to fund the banks. With Lloyds being the biggest btl lender it's no wonder. There's no mainstream paper that is willing to expose the housing theft 

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22 minutes ago, UnconventionalWisdom said:

 

(P.s. Had an online German lesson earlier aid a possible escape route).

I think you meant "I had earlier an online German lesson, a possible escape route to aid".  These things are very important, uber alles.  It's going to do your head in.  No wonder the booze is so good.  ?

Edited by Fence

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10 minutes ago, UnconventionalWisdom said:

Unfortunately I think you've hit the nail on the head. But if this is the case, the UK will be ruined- noone who is young now can reach full potential in the UK and if they leave then another country will benefit from their hard work. 

(P.s. Had an online German lesson earlier aid a possible escape route).

Absolutely. And this is all because 1000 or so power mad people (across successive parliamentary terms) decided that the best way to stay in power was to convince the incredibly gullible public that inflating property ‘wealth’ was a good thing. Their mouthpieces on tv were only to happy to create programming to play along, and the banks, well, are banks. The masses lapped it up and The Rest Is History. 

It still beggars belief really. Just how did they think this would end up???

Of course That the Uk is now stuffed because of their actions won’t matter an iota to them. Most will be dead in 20-40 years and they’ll have plenty of time to enjoy a few cruises in that time. Selfish, short sighted and the polar opposite of what ‘central planning’ is supposedly intended for.

btw - das ist sehr gut, aber Deutschland wird mehr wie England. They are increasingly financialised and their work structure is not as ‘for the people’ as it could be. I don’t think many German firms have share schemes for instance. I would still go to America (Bay area) if I had the freedom to do so. Forget what people say about it being expensive to live there. If you are good, the compensation more than, erm, compensates for that.

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12 minutes ago, Frugal Git said:

And this is all because 1000 or so power mad people (across successive parliamentary terms) decided that the best way to stay in power was to convince the incredibly gullible public that inflating property ‘wealth’ was a good thing.

Plenty of gullible people even here who think this "wealth" is real.  Spend it without having more debt and still have the same roof over your head and I'll agree.  Until then, nah, funny money.

Edited by Fence

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9 hours ago, Fence said:

I think you meant "I had earlier an online German lesson, a possible escape route to aid".  These things are very important, uber alles.  It's going to do your head in.  No wonder the booze is so good.  ?

Love it. The booze is needed to cope with the grammar. 

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9 hours ago, Frugal Git said:

Absolutely. And this is all because 1000 or so power mad people (across successive parliamentary terms) decided that the best way to stay in power was to convince the incredibly gullible public that inflating property ‘wealth’ was a good thing. Their mouthpieces on tv were only to happy to create programming to play along, and the banks, well, are banks. The masses lapped it up and The Rest Is History. 

It still beggars belief really. Just how did they think this would end up???

Of course That the Uk is now stuffed because of their actions won’t matter an iota to them. Most will be dead in 20-40 years and they’ll have plenty of time to enjoy a few cruises in that time. Selfish, short sighted and the polar opposite of what ‘central planning’ is supposedly intended for.

btw - das ist sehr gut, aber Deutschland wird mehr wie England. They are increasingly financialised and their work structure is not as ‘for the people’ as it could be. I don’t think many German firms have share schemes for instance. I would still go to America (Bay area) if I had the freedom to do so. Forget what people say about it being expensive to live there. If you are good, the compensation more than, erm, compensates for that.

I've heard that as their bankers weren't as bad as others that they don't have to same regulations imposed on them. Knowing what bankers are like, the guy giving the talk concluded that this means this will result in big scandals/worst corruption as they have more freedom. 

Probably through laziness, but I assumed it would be difficult to get a visa for America and that they'd have enough natives to fill positions. 

One thing that working in the UK has taught me is that working hard for your career isn't paying off and it's therefore better to do a job to get benefits as just working won't help you win at the game of life anymore (this would be a second language/better idea of another culture if I did go) . 

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  • 407 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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