Jump to content
House Price Crash Forum
ItalianV6

Mortgage approvals at a 5 year low, London renters hit 30 year high

Recommended Posts

big house loving boomer "why don't you take on a lifetime of DEBT for a studio flat in bow?"

young scumbag renter "because its a studio flat in bow"

the end

 

 

Share this post


Link to post
Share on other sites

this all comes back to the point at which people view working as not worth it, stigmatising the benefits scumbags on the tellie works for so long but surely eventually all these well paid professionals in London house shares in their thirties are going to wake up and think "someones winning here and it aint me"

Share this post


Link to post
Share on other sites
48 minutes ago, thewig said:

big house loving boomer "why don't you take on a lifetime of DEBT for a studio flat in bow?"

young scumbag renter "because its a studio flat in bow"

the end

Very good. 

Also, without perpetual HPI the ponzi scheme falls apart. We are there now. 

Share this post


Link to post
Share on other sites
5 minutes ago, TonyJ said:

Please could you explain the steps of how the ponzi will fall apart without perpetual HPI?

you simply run out of suckers at the bottom prepared to drop 200k deposits on a london house. 

It trickles up to those with houses to sell at prices now unachievable. They reduce the sale prices, they have less money to trade to a house in the suburbs, which has to reduce in price and so on. 

 

Share this post


Link to post
Share on other sites
4 minutes ago, TonyJ said:

Please could you explain the steps of how the ponzi will fall apart without perpetual HPI?

because no one wants to pay x00k for a cr@ppy hovel which is going to be worth xxk less in a years time

 

not even a DEBTjunkie, the traditional greatest fool and buyer of last resort

 

Share this post


Link to post
Share on other sites
1 hour ago, TonyJ said:

London is a victim of its own success, but global loose credit policies have turbocharged the problems.

What success?
~50% of people living in London are on benefits FFS.

Remove benefits and poof! the whole lot falls down.

 

Share this post


Link to post
Share on other sites
3 minutes ago, TonyJ said:

By success, I mean that so many people want to live there. Intelligent and energetic millennials do not really want to be elsewhere. It is where the social life of their like-minded friends is, and where the lucrative and interesting jobs are.

Basically in the UK there isn't anywhere else. London is it.

Share this post


Link to post
Share on other sites
4 minutes ago, TonyJ said:

By success, I mean that so many people want to live there. Intelligent and energetic millennials do not really want to be elsewhere. It is where the social life of their like-minded friends is, and where the lucrative and interesting jobs are.

 

nothing lucrative about a houseshare in your thirties pal

 

likewise a "decent" salary of 50k gross is basically toilet paper if you're spending £1200 or whatever net a month to rent a hovel

 

 

 

 

Share this post


Link to post
Share on other sites
4 minutes ago, TonyJ said:

By success, I mean that so many people want to live there. Intelligent and energetic millennials do not really want to be elsewhere. It is where the social life of their like-minded friends is, and where the lucrative and interesting jobs are.

50% of the pople living in London dont want to pay to live there.

CHarge them the full cost and see how many want to remain.

Share this post


Link to post
Share on other sites
2 minutes ago, TonyJ said:

We all know that, but millennials and others need to discover it for themselves. But in the meantime, it is where their lives are, and I am sure when they travel outside the London bubble, other places seem at best rather pedestrian and boring in comparison, and at worst complete dives (not that parts of London are not also complete dives).

Not sure this is true. Have mate who lives in crouch end London. Comes and visits his dad in Banbury a small dead end market town and said it nicer than anywhere in London full stop!!!

Share this post


Link to post
Share on other sites
58 minutes ago, TonyJ said:

We all know that, but millennials and others need to discover it for themselves. But in the meantime, it is where their lives are, and I am sure when they travel outside the London bubble, other places seem at best rather pedestrian and boring in comparison, and at worst complete dives (not that parts of London are not also complete dives).

It's nasty and particularly so if you are on a modest wage...only a mug would put up with it for very long.

Share this post


Link to post
Share on other sites
1 hour ago, spyguy said:

50% of the pople living in London dont want to pay to live there.

CHarge them the full cost and see how many want to remain.

Forget the video, the lyrics are about the 1981 Brixton riots.

 

I still think London will burn, followed by white flight. Urban planning Detroit style. 

Edited by Lord D'arcy Pew
Added Content

Share this post


Link to post
Share on other sites
3 hours ago, Errol said:

Basically in the UK there isn't anywhere else. London is it.

Nah. Manchester, Newcastle, Bristol, Glasgow, Brighton and many more cities offer loads. But their economies are often sucked dry by centralisation (less so Glasgow).

In London a person ends up living in zone 6 and it takes them 2 hours to get home from a gig. It's a 10 minute walk in other cities.

Loads of people buy the myth and go to London then leave. Particularly those from dull towns. Those youngsters in other UK cities see it as the overhyped place it is.

Edited by sf-02

Share this post


Link to post
Share on other sites
2 hours ago, TonyJ said:

We all know that, but millennials and others need to discover it for themselves. But in the meantime, it is where their lives are, and I am sure when they travel outside the London bubble, other places seem at best rather pedestrian and boring in comparison, and at worst complete dives (not that parts of London are not also complete dives).

Do you mean moving to towns in the middle of nowhere or other big cities?

I've not met one person yet in their 20s and 30s who left London and went to other great UK cities and didn't ask why they didn't do it sooner. The music scene for example in so many cities is thriving and dying in London due to high costs and it taking forever to get to gigs in the reducing number of venues. Same with a whole bunch of cultural activites. 

Edited by sf-02

Share this post


Link to post
Share on other sites
1 hour ago, sf-02 said:

Nah. Manchester, Newcastle, Bristol, Glasgow, Brighton and many more cities offer loads. But their economies are often sucked dry by centralisation (less so Glasgow).

In London a person ends up living in zone 6 and it takes them 2 hours to get home from a gig. It's a 10 minute walk in other cities.

Loads of people buy the myth and go to London then leave. Particularly those from dull towns. Those youngsters in other UK cities see it as the overhyped place it is.

I'm talking about concentrations of capital, wealth, business, entertainment, culture etc etc.

None of other places you mention are even close to London. Whether we like it or not, London is one of the top, Major cities of the world. None of the others you mention would even get into the top 200. Hence the attraction to many.

Edited by Errol

Share this post


Link to post
Share on other sites
49 minutes ago, Errol said:

I'm talking about concentrations of capital, wealth, business, entertainment, culture etc etc.

None of other places you mention are even close to London. Whether we like it or not, London is one of the top, Major cities of the world. None of the others you mention would even get into the top 200. Hence the attraction to many.

As far as I see it - this attraction is going nowhere. London will still be a key major city in the next 50 or 100 years.

Share this post


Link to post
Share on other sites

Join the conversation

You can post now and register later. If you have an account, sign in now to post with your account.

Guest
Reply to this topic...

×   Pasted as rich text.   Paste as plain text instead

  Only 75 emoji are allowed.

×   Your link has been automatically embedded.   Display as a link instead

×   Your previous content has been restored.   Clear editor

×   You cannot paste images directly. Upload or insert images from URL.

Loading...

  • Recently Browsing   0 members

    No registered users viewing this page.

  • 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%



×
×
  • Create New...

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.