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Sausage

Weekend with the in-laws

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Omg. Cooped up in a French gite with house price boom supporters! Aaaaggghhhh

Father-in-law & partner: 2 houses between them (9 beds)... Implication is we should be buying, and only our inability to manage finances is preventing us doing so

Brother & sister in law: household income very average at best (but they do jobs they love related to livestock, so total respect for that). Used phrase "it's best to just get on ladder, prices never fall". They currently live rent free in wing of family home (£3m+ several acres in national park) but no hope of buying ever.

Brother-in-law: bought eye wateringly expensive tiny 1 bed flat in London with girlfriend. Split up from girlfriend. Bought her out. But that's ok because the part of London he lives will only go up in price!

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My in laws have always been very pro house prices,  but seem to have changed their tune big time.  I think this might be because the soon is finally considering buying his own place at 40 and they've finally realised that it's no party out there unless you own a home already. 

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4 hours ago, Sausage said:

Cooped up in a French gite

I think it's important to enjoy your time as much as possible.

Say your piece and if anyone bites, you can have more of a discussion. Reality will teach its lessons sooner or later.

Wasn't there much to do?

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just tell em about your very good share portfolio. allways messes with their heads that maybe their is someone making better money than a ponzi house buying scam. tell them yer getting at least 10% a year while you just read property is going down. say no repairs, no kong time to sell. tell em a couple of your shares just paid over 7% divident and you might buy a car with it or just invest back in to more shares. 

how very dare you 

Edited by jimmy2x3

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5 hours ago, Sausage said:

Omg. Cooped up in a French gite with house price boom supporters! Aaaaggghhhh

Father-in-law & partner: 2 houses between them (9 beds)... Implication is we should be buying, and only our inability to manage finances is preventing us doing so

Brother & sister in law: household income very average at best (but they do jobs they love related to livestock, so total respect for that). Used phrase "it's best to just get on ladder, prices never fall". They currently live rent free in wing of family home (£3m+ several acres in national park) but no hope of buying ever.

Brother-in-law: bought eye wateringly expensive tiny 1 bed flat in London with girlfriend. Split up from girlfriend. Bought her out. But that's ok because the part of London he lives will only go up in price!

Hang on you are forgetting something.  They will both inherit big time when father-in-law passes on, so they do have hope of buying ever.  It's just that it could be a long time in the future.

Admittedly there are two things that could go wrong with this scenario.  One is that father-in-law needs long term care and the other problem is his "partner".  If this partner is not the mother of the offspring in question, then you have problems there, get a will sorted out.

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Where else does wealth come from if not from confiscating the future earnings of younger people?

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1 hour ago, Boo Hoo May said:

My mind was blown by my Dad's mate.  BBC watching, Telegraph reading nice guy - early 60's probably, with a blind spot for equality, and massive self-entitlement.  No recognition of reality.

a lot of people in life are total failures/losers. For a lot of Boomers being smug about their unearned equity is the only thing they can hang their hat on.

They see it as them being savvy, smart, hard working, a success. 

They cannot acknowledge they were just very thick, and very lucky. They cannot see that its very very unfair on the young, and its through no fault of the youngs.

But in order to realise the horrific situation the young are in, they would have to realise how selfish and worthless they themselves are, that they should feel guilty, but instead they come out with things like:

"i worked very hard"
 "the young just need to get off their phones"
"if they buy second hand furniture then they can afford 500k house but they must have everything new!"
"we had to pay 7% interest rates!"
"it was never easy for us" (mortgage inflated away in a few short years, supported a large family on a milkmans income, houses cost a fraction of what they did today)
"i saved for a whole month, and i borrowed money from my parents, my mortgage was almost a full years income, i had sleepness nights"
"they are building loads of houses, thankfully not around here after we set up the village white-hair protest nimby committee"
"they should move somewhere cheaper, probably pick up something cheap as a dooer upper like we did" (they bought a 6 bed house that needed a lick of paint, where do they expect the young to buy? namibia?)
 

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You lot do all this moaning about not having enough money, then you want to spend an additional £5 trillion on abating 1.02% of global CO2 emissions.

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1 hour ago, jiltedjen said:

"i worked very hard"
 "the young just need to get off their phones"
"if they buy second hand furniture then they can afford 500k house but they must have everything new!"
"we had to pay 7% interest rates!"
"it was never easy for us" (mortgage inflated away in a few short years, supported a large family on a milkmans income, houses cost a fraction of what they did today)
"i saved for a whole month, and i borrowed money from my parents, my mortgage was almost a full years income, i had sleepness nights"
"they are building loads of houses, thankfully not around here after we set up the village white-hair protest nimby committee"
"they should move somewhere cheaper, probably pick up something cheap as a dooer upper like we did" (they bought a 6 bed house that needed a lick of paint, where do they expect the young to buy? namibia?)
 

"We didn't go out for six months to save for the deposit!"

"Huge flat screen TVs!" - large TVs, fridges, washing machines etc can be bought for a few hundred pounds now, unlike in the 1970s when they may have cost a month or more's income.

 

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3 hours ago, Boo Hoo May said:

My mind was blown by my Dad's mate.  BBC watching, Telegraph reading nice guy - early 60's probably, with a blind spot for equality, and massive self-entitlement.  No recognition of reality.

Plenty like that, live in their own bubble oblivious to the reality of what is going on outside it.....perhaps they would rather not know, or not want to go into any detail, not their problem?;)

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12 minutes ago, A17 said:

"We didn't go out for six months to save for the deposit!"

"Huge flat screen TVs!" - large TVs, fridges, washing machines etc can be bought for a few hundred pounds now, unlike in the 1970s when they may have cost a month or more's income.

 

Flat screens are cheap and easy to come by, plenty of good working order can be found at the local council tip, and other places, might not be smart but a big, clear great picture....white goods and electronics are cheap.......it is not the cost of buying nowadays it is the high cost of running..THE RENTS, contracts etc....it is the RENTS that cost the money....twelve monthly payments will cost more than the initial cost.....it is the RENT to live somewhere that might cost more that two brand new TVs to buy each month......can buy hundreds of avocados.;)

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8 hours ago, Sausage said:

Omg. Cooped up in a French gite with house price boom supporters! Aaaaggghhhh

Father-in-law & partner: 2 houses between them (9 beds)... Implication is we should be buying, and only our inability to manage finances is preventing us doing so

Brother & sister in law: household income very average at best (but they do jobs they love related to livestock, so total respect for that). Used phrase "it's best to just get on ladder, prices never fall". They currently live rent free in wing of family home (£3m+ several acres in national park) but no hope of buying ever.

Brother-in-law: bought eye wateringly expensive tiny 1 bed flat in London with girlfriend. Split up from girlfriend. Bought her out. But that's ok because the part of London he lives will only go up in price!

Guessing that you are all cooped up together as you cannot afford separate holidays or they don't want other holidays?

Might just be my family, but noticed that the ones who are into property debt are all home bodies who don't like to go out much, no cultural pursuits, hobbies, interesting holidays or parties. All their money is going into property and cars.  It's not that their properties are so comfortable you wouldn't want to leave them.

There is a big aura of "sacrifice" in my family members who have decided to buy extra houses to do up or BTL. 

Might be an interesting discussion on what else they are doing with their lives?

Edited by Flopsy

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12 minutes ago, Flopsy said:

Guessing that you are all cooped up together as you cannot afford separate holidays or they don't want other holidays?

Might just be my family, but noticed that the ones who are into property debt are all home bodies who don't like to go out much, no cultural pursuits, hobbies, interesting holidays or parties. All their money is going into property and cars.  It's not that their properties are so comfortable you wouldn't want to leave them.

There is a big aura of "sacrifice" in my family members who have decided to buy extra houses to do up or BTL. 

Might be an interesting discussion on what else they are doing with their lives?

We all have separate holidays. This was a long wknd for an important birthday

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5 hours ago, Locke said:

I think it's important to enjoy your time as much as possible.

Say your piece and if anyone bites, you can have more of a discussion. Reality will teach its lessons sooner or later.

Wasn't there much to do?

Very short trip, 4 small kids, so most of time was coordinating meal time, entertaining kids, or getting them to get dressed/undressed/go to bed. Not too bad all in all. Good food, lots of wine and Normandy cider 

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46 minutes ago, winkie said:

Flat screens are cheap and easy to come by, plenty of good working order can be found at the local council tip, and other places, might not be smart but a big, clear great picture....white goods and electronics are cheap.......it is not the cost of buying nowadays it is the high cost of running..THE RENTS, contracts etc....it is the RENTS that cost the money....twelve monthly payments will cost more than the initial cost.....it is the RENT to live somewhere that might cost more that two brand new TVs to buy each month......can buy hundreds of avocados.;)

That's the point. In the past a big TV would have been a luxury, that only the wealthy or those who wasted money would own. Nowadays they are comparatively cheap, yet some boomers act as though owning one is a sign of frivolous spending.

Have a look at this Argos catalogue from 1983 page 232 https://issuu.com/retromash/docs/argos-no20-1983-autumnwinter. A 22" Philips TV cost £315. Compare that to what you can buy for £315 now.

 

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1 hour ago, Flopsy said:

Guessing that you are all cooped up together as you cannot afford separate holidays or they don't want other holidays?

Might just be my family, but noticed that the ones who are into property debt are all home bodies who don't like to go out much, no cultural pursuits, hobbies, interesting holidays or parties. All their money is going into property and cars.  It's not that their properties are so comfortable you wouldn't want to leave them.

There is a big aura of "sacrifice" in my family members who have decided to buy extra houses to do up or BTL. 

 

Agreed. Massive misallocation of family capital, with bailouts and subsidies going their way to help then with their financial disasters. Very unfair on those of us trying to achieve financially using sensible asset portfolios, very favouritist.

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39 minutes ago, A17 said:

That's the point. In the past a big TV would have been a luxury, that only the wealthy or those who wasted money would own. Nowadays they are comparatively cheap, yet some boomers act as though owning one is a sign of frivolous spending.

Have a look at this Argos catalogue from 1983 page 232 https://issuu.com/retromash/docs/argos-no20-1983-autumnwinter. A 22" Philips TV cost £315. Compare that to what you can buy for £315 now.

 

Inflation adjusted that's over a grand in current money.

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We have a flat screen TV (is it possible to buy any other kind anymore??) which we bought second hand for about £60. 99p HDMI cable to plug it into a second hand laptop which also cost about £60 and we have an internet-enabled TV which we use every day. At this point I got a bit carried away and splurged another 99p on a second HDMI cable and £15 for a second hand DVD player so we can play Portuguese cartoons for our little ones to help them learn the language.

As hurdles to homeownership go, it wasn't the biggest.

Edited by Dorkins

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13 hours ago, btd1981 said:

My in laws have always been very pro house prices,  but seem to have changed their tune big time.  I think this might be because the soon is finally considering buying his own place at 40 and they've finally realised that it's no party out there unless you own a home already. 

A couple of Boomer friends of my parents went through the same, brainlessly repeating HPI 4eva cliches until they belatedly realised bumper house prices aren't just paid by strangers on Location Location Location, they are also what their 20something children are expected to pay.

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6 hours ago, Si1 said:

Inflation adjusted that's over a grand in current money.

funny how on the next few pages computers and games consoles are under a £100  yet now it is the opposite expensive playstations and xboxes with cheap tv`s. 

however lcd tv`s are so cheap because the panels are mass produced in huge sizes and then just chopped down to size the same factories churn out the same panels for laptops phones car devices etc. 

oled is however still expensive as only LG make the actual panel. 

 

 

 

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10 hours ago, jiltedjen said:

a lot of people in life are total failures/losers. For a lot of Boomers being smug about their unearned equity is the only thing they can hang their hat on.

They see it as them being savvy, smart, hard working, a success. 

They cannot acknowledge they were just very thick, and very lucky. They cannot see that its very very unfair on the young, and its through no fault of the youngs.

But in order to realise the horrific situation the young are in, they would have to realise how selfish and worthless they themselves are, that they should feel guilty, but instead they come out with things like:

"i worked very hard"
 "the young just need to get off their phones"
"if they buy second hand furniture then they can afford 500k house but they must have everything new!"
"we had to pay 7% interest rates!"
"it was never easy for us" (mortgage inflated away in a few short years, supported a large family on a milkmans income, houses cost a fraction of what they did today)
"i saved for a whole month, and i borrowed money from my parents, my mortgage was almost a full years income, i had sleepness nights"
"they are building loads of houses, thankfully not around here after we set up the village white-hair protest nimby committee"
"they should move somewhere cheaper, probably pick up something cheap as a dooer upper like we did" (they bought a 6 bed house that needed a lick of paint, where do they expect the young to buy? namibia?)
 

i saved plenty young so they do have a point but then i blew money going out too 😄

to be fair the young can only really judge the boomers when they are their age.  not fair otherwise don`t you agree ?

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9 hours ago, A17 said:

That's the point. In the past a big TV would have been a luxury, that only the wealthy or those who wasted money would own. Nowadays they are comparatively cheap, yet some boomers act as though owning one is a sign of frivolous spending.

Have a look at this Argos catalogue from 1983 page 232 https://issuu.com/retromash/docs/argos-no20-1983-autumnwinter. A 22" Philips TV cost £315. Compare that to what you can buy for £315 now.

Wow! That Philips £315 TV (top left) is the TV my parents bought! Before that, we had a black and white one. The ONLY reason we got colour was because of Charles and Dianna's wedding and mum put her foot down! Of course in those days, models weren't replaced every year as a matter of course...

8 channels, no remote control, impossible to separate from the stand, no teletext, no scart. It was really horrible, but it was "a TV" and it was colour! It didn't get replaced until this century I know for certain.

 

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  • 297 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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