Si1 Posted October 9, 2020 Share Posted October 9, 2020 Id love to see a name on the various statements I see. Other than Bozza, Ive not seen any Treasury or BoE name on these grand new ideas. Agreed. No Sumak. No Boe. Even Help to Buy had Carney banking it. But he was a paid political puppet anyway. Quote Link to comment Share on other sites More sharing options...
dances with sheeple Posted October 9, 2020 Share Posted October 9, 2020 https://www.pressreader.com/ Quote Link to comment Share on other sites More sharing options...
Pop321 Posted October 9, 2020 Share Posted October 9, 2020 Johnson’s ‘Generation Buy’ is a catastrophe in waiting https://www.independent.co.uk/news/business/uk-house-prices-crash-boris-johnson-mortgages-b864964.html The article you’ve waited 20 years for! Really pleasing to read. It could say more but it says enough for starters. This needs to be mainstream news.....current prices are getting embarrassing for those who have been long term owners. They know it’s not right. Quote Link to comment Share on other sites More sharing options...
iamnumerate Posted October 9, 2020 Share Posted October 9, 2020 Really pleasing to read. It could say more but it says enough for starters. This needs to be mainstream news.....current prices are getting embarrassing for those who have been long term owners. They know it’s not right. To be honest they have been embarrassing for a long time at least 15 years - more in some parts of London. Quote Link to comment Share on other sites More sharing options...
Frugal Git Posted October 9, 2020 Share Posted October 9, 2020 (edited) I'm reading a lot of stuff now about rent strikes etc from students. And rightly so. I know its the guardian, but if people can put their newspaper bias to one side the details are so, so appalling. Not only are they profiteering from pointless rents when the lectures are online - the 'support' packages for those having to isolate are marked up 300% https://amp.theguardian.com/world/2020/oct/09/like-baby-food-uk-students-lockdown-food-complaints-grow?CMP=share_btn_tw&__twitter_impression=true But of course it's ok because as one idiot on the radio said 'students don't have to pay anything for their education until after they graduate, so the cost is immaterial'. Err ...no - the debt is real, and if I was in that position today I would certainly do everything I could to challenge payment for non service. This age group has been so screwed over they will graduate as anarchists. If rent strikes happen, then this bunch are going to have their eyes wide open to the scammy cost of private rents and housing in general too. The political demographic shift is on. Edited October 9, 2020 by Frugal Git Quote Link to comment Share on other sites More sharing options...
Pop321 Posted October 9, 2020 Share Posted October 9, 2020 I'm reading a lot of stuff now about rent strikes etc from students. And rightly so. I know its the guardian, but if people can put their newspaper bias to one side the details are so, so appalling. Not only are they profiteering from pointless rents when the lectures are online - the 'support' packages for those having to isolate are marked up 300% https://amp.theguardian.com/world/2020/oct/09/like-baby-food-uk-students-lockdown-food-complaints-grow?CMP=share_btn_tw&__twitter_impression=true But of course it's ok because as one idiot on the radio said 'students don't have to pay anything for their education until after they graduate, so the cost is immaterial'. Err ...no - the debt is real, and if I was in that position today I would certainly do everything I could to challenge payment for non service. This age group has been so screwed over they will graduate as anarchists. If rent strikes happen, then this bunch are going to have their eyes wide open to the scammy cost of private rents and housing in general too. The political demographic shift is on. I doubt it (not suggesting you are wrong rather my bad) but I hope so. Watched the Fahrenheit 9:11 (2018) film and felt quite enthused when the younger generation began to protest about guns, gun sponsorship of political parties and it could have gone further. Needs to happen more and more. Quote Link to comment Share on other sites More sharing options...
iamnumerate Posted October 9, 2020 Share Posted October 9, 2020 (edited) I'm reading a lot of stuff now about rent strikes etc from students. And rightly so. I know its the guardian, but if people can put their newspaper bias to one side the details are so, so appalling. Not only are they profiteering from pointless rents when the lectures are online - the 'support' packages for those having to isolate are marked up 300% https://amp.theguardian.com/world/2020/oct/09/like-baby-food-uk-students-lockdown-food-complaints-grow?CMP=share_btn_tw&__twitter_impression=true But of course it's ok because as one idiot on the radio said 'students don't have to pay anything for their education until after they graduate, so the cost is immaterial'. Err ...no - the debt is real, and if I was in that position today I would certainly do everything I could to challenge payment for non service. This age group has been so screwed over they will graduate as anarchists. If rent strikes happen, then this bunch are going to have their eyes wide open to the scammy cost of private rents and housing in general too. The political demographic shift is on. It is unusual for the Mail and Guardian to agree but they are both right, really appalling. (I bet the Express and Morning Star probably agree about this as well). https://www.dailymail.co.uk/news/article-8815253/Students-self-isolating-Lancaster-University-charged-17-95-day-meals.html I often wonder if many politicians are really secret agents dedicated to destroying to their own parties. That would explain all of them to be honest. Edited October 9, 2020 by iamnumerate Quote Link to comment Share on other sites More sharing options...
ForGreatLager... Posted October 9, 2020 Author Share Posted October 9, 2020 I often wonder if many politicians are really secret agents dedicated to destroying to their own parties. That would explain all of them to be honest. I often wonder how many politicians have undiagnosed personality disorders. I would imagine a substantial amount of them do. Quote Link to comment Share on other sites More sharing options...
BufferBear Bitcoin Bull Posted October 10, 2020 Share Posted October 10, 2020 (edited) I often wonder how many politicians have undiagnosed personality disorders. I would imagine a substantial amount of them do. I think research will confirm a theme in respect of those persons who fill positions of power. I doubt it (not suggesting you are wrong rather my bad) but I hope so. Watched the Fahrenheit 9:11 (2018) film and felt quite enthused when the younger generation began to protest about guns, gun sponsorship of political parties and it could have gone further. Needs to happen more and more. I'm watching the situation closely to see if my daughter and her housemates rebel. I'm reading a lot of stuff now about rent strikes etc from students. And rightly so. I know its the guardian, but if people can put their newspaper bias to one side the details are so, so appalling. Not only are they profiteering from pointless rents when the lectures are online - the 'support' packages for those having to isolate are marked up 300% This age group has been so screwed over they will graduate as anarchists. If rent strikes happen, then this bunch are going to have their eyes wide open to the scammy cost of private rents and housing in general too. The political demographic shift is on. I hope so. I'm feeling slightly aggrieved as my daughter has virtual lessons on campus while we we contribute to her monthly rent. She could have remained at home. Re: food, I encouraged her to shop online, which she has been doing thank goodness given the awful stories coming out and the fact that she told me she has lost her sense of taste. Fortunately, she was proactive and booked a campus test for tomorrow before telling me! Her housemate experienced similar symptoms a couple of days before and was told to have a test posted to her address. I just hope that if we move to another lockdown, if only partial, or she has to self-isolate, she will able to secure a shopping slot given our experience. A week or so before lockdown, our delivery arrived in one crate. I enquired of the driver where the remainder of the order was. He looked apologetically and confirmed that that one crate was my total delivery - £27 worth of shopping. I was incredulous yet also confused - our original bill had been approx. £180! This was when I first realised the seriousness of the situation! I spent the evening driving around petrol station supermarkets (JS/M&S) as the bigger stores were pretty bare. We 'survived' on convenience meals and dry pasta for over a week and without all the usual treats. Luckily, for my husband, he was away on a trip and for our children, it was an invaluable experience in a society where immediate gratification and extravagance is the norm. Good out of bad. 😁 P.s what would you consider the average food bill for a student. The article suggested £100 p.m! My daughter is not a big eater but couldn't possibly 'survive' on that even if she is happy to live on beans and toast, I am not. Edited October 10, 2020 by Buffer Bear Quote Link to comment Share on other sites More sharing options...
BufferBear Bitcoin Bull Posted October 10, 2020 Share Posted October 10, 2020 I don't think the generation buy scheme is anywhere near as significant as the Help to Buy props in aggregate, or the Term Funding Schemes. I think it's minor. A political gimmick, may be just to make sure there's a liquid market for Help to Buyers to sell into. I agree with this...The impact may not be significant as earnings ratios will still cause downward pressure, I reckon along with the biggest factor, we are still in the middle of a pandemic. I know the market has inflated despited adverse factors but this time, it really has to be different. As Maggie stated: "you can't buck the market". Ultimately, sentiment is the key. Quote Link to comment Share on other sites More sharing options...
PeanutButter Posted October 10, 2020 Share Posted October 10, 2020 I often wonder how many politicians have undiagnosed personality disorders. I would imagine a substantial amount of them do. Agreed. NPD would be my guess. Quote Link to comment Share on other sites More sharing options...
Pop321 Posted October 10, 2020 Share Posted October 10, 2020 I hope so. I'm feeling slightly aggrieved as my daughter has virtual lessons on campus while we we contribute to her monthly rent. She could have remained at home. Re: food, I encouraged her to shop online, which she has been doing thank goodness given the awful stories coming out and the fact that she told me she has lost her sense of taste. Fortunately, she was proactive and booked a campus test for tomorrow before telling me! Her housemate experienced similar symptoms a couple of days before and was told to have a test posted to her address. I just hope that if we move to another lockdown, if only partial, or she has to self-isolate, she will able to secure a shopping slot given our experience. A week or so before lockdown, our delivery arrived in one crate. I enquired of the driver where the remainder of the order was. He looked apologetically and confirmed that that one crate was my total delivery - £27 worth of shopping. I was incredulous yet also confused - our original bill had been approx. £180! This was when I first realised the seriousness of the situation! I spent the evening driving around petrol station supermarkets (JS/M&S) as the bigger stores were pretty bare. We 'survived' on convenience meals and dry pasta for over a week and without all the usual treats. Luckily, for my husband, he was away on a trip and for our children, it was an invaluable experience in a society where immediate gratification and extravagance is the norm. Good out of bad. 😁 P.s what would you consider the average food bill for a student. The article suggested £100 p.m! My daughter is not a big eater but couldn't possibly 'survive' on that even if she is happy to live on beans and toast, I am not. I would be interested in the test result. I had a flu for a week and later completely lost my taste and smell. Without being over optimistic if she has no symptoms other than loss of taste it’s quite possible that will be as bad as it gets for her. Fingers crossed. However, one thing you need to re-evaluate is the shopping bill 😆😆. My son is physically fit, eats very well and exercises and did at Uni. £100 a month for food wasn’t far off what he did. He used to walk to Asda on Saturday evenings a get cooked chicken for 50p etc. We were amazed how our pampered boy became a genius when it came to eating meals for very little money. We did regularly (at least each month) go see him (or vice versa) and spoil him rotten with a meals and posh coffees plus extra pennies. All this including late night bargain shopping won’t be as easy because of Covid so they made need a bit extra ie £200? Avocado on toast and lattes each day was for the pampered puppies who had rich parents who paid an allowance most non students would struggle to earn. My son had rich parents but they were from Yorkshire 😆😆 Quote Link to comment Share on other sites More sharing options...
winkie Posted October 10, 2020 Share Posted October 10, 2020 I would be interested in the test result. I had a flu for a week and later completely lost my taste and smell. Without being over optimistic if she has no symptoms other than loss of taste it’s quite possible that will be as bad as it gets for her. Fingers crossed. However, one thing you need to re-evaluate is the shopping bill 😆😆. My son is physically fit, eats very well and exercises and did at Uni. £100 a month for food wasn’t far off what he did. He used to walk to Asda on Saturday evenings a get cooked chicken for 50p etc. We were amazed how our pampered boy became a genius when it came to eating meals for very little money. We did regularly (at least each month) go see him (or vice versa) and spoil him rotten with a meals and posh coffees plus extra pennies. All this including late night bargain shopping won’t be as easy because of Covid so they made need a bit extra ie £200? Avocado on toast and lattes each day was for the pampered puppies who had rich parents who paid an allowance most non students would struggle to earn. My son had rich parents but they were from Yorkshire 😆😆 What you discribe is how I see more young people adapting to changes fast......saving money and living well by shopping well, cooking well, some no longer or eating less meat, avoiding take aways, expensive new branded clothes, happy and proud to get pre-loved used clothes, electronics home furnishings etc exercising differently, at home or walking, running and cycling....not going out as much rather going around friends homes or talking online, meeting outside, talking and walking, visiting parks and gardens, walking beside river, or coast......reading, listening to music and radio......doing more for their social connections, health and mental health.......that doesn't mean spending money. Quote Link to comment Share on other sites More sharing options...
BufferBear Bitcoin Bull Posted October 11, 2020 Share Posted October 11, 2020 I would be interested in the test result. I had a flu for a week and later completely lost my taste and smell. Without being over optimistic if she has no symptoms other than loss of taste it’s quite possible that will be as bad as it gets for her. Fingers crossed. However, one thing you need to re-evaluate is the shopping bill 😆😆. My son is physically fit, eats very well and exercises and did at Uni. £100 a month for food wasn’t far off what he did. He used to walk to Asda on Saturday evenings a get cooked chicken for 50p etc. We were amazed how our pampered boy became a genius when it came to eating meals for very little money. We did regularly (at least each month) go see him (or vice versa) and spoil him rotten with a meals and posh coffees plus extra pennies. All this including late night bargain shopping won’t be as easy because of Covid so they made need a bit extra ie £200? Yep, we're giving her £50 p.w. for any general/household expenditure. Thankfully she is not the partying/drinking type, yet...books, phone bill, laptop/phone insurance, clothes, travel home etc are all extra... Avocado on toast and lattes each day was for the pampered puppies who had rich parents who paid an allowance most non students would struggle to earn. My son had rich parents but they were from Yorkshire 😆😆 I will let you know. The timeline is 1 - 5 days. She tells me there was a line of students waiting to be tested int he campus car park. Her words: "it was an interesting experience." Apparently, there is a CoOp on campus which she tells me is more expensive than Sainsbury (our usual s/market), so this appears to be another ruse to fleece students. Once she has greater flexibility, we will review her financial support. As she is on the slim side and not a foodie, we are tying to encourage her to eat i.e. provide the things that she does enjoy eg. lamb chops and salmon (will suggest she buy frozen products to reduce her bill). Good tip re: strategic visiting times. She is clear that I won't be funding advocado on toast, frapuccinos etc or even regular take outs! I've told her that if she wastes our money, her allowance will be reduced. We work too hard for that! She's quite a sensible kid so we'll see how it goes. I do know that she absolutely detests cooking and would happily eat pasta most days. The other issue is that opportunities for work are far and few between. Tbh, prior to the downturn, we agreed that she did not need a part time (one day) job on the basis we wanted her to have the opportunity to immerse herself in her studies and participate in uni based life/activities. It may be that securing a job will be the new challenge so we have had to adjust our expectations. Unexpectedly, we might need to provide her allowance for the length of her studies with another sibling hot on her heels, potentially! What you discribe is how I see more young people adapting to changes fast......saving money and living well by shopping well, cooking well, some no longer or eating less meat, avoiding take aways, expensive new branded clothes, happy and proud to get pre-loved used clothes, electronics home furnishings etc exercising differently, at home or walking, running and cycling....not going out as much rather going around friends homes or talking online, meeting outside, talking and walking, visiting parks and gardens, walking beside river, or coast......reading, listening to music and radio......doing more for their social connections, health and mental health.......that doesn't mean spending money. This pretty much describes her current lifestyle... Quote Link to comment Share on other sites More sharing options...
iamnumerate Posted October 11, 2020 Share Posted October 11, 2020 2015 was a spectacular GE win off the back of Help to Buy and triple lock One day the demographics won't support that. Not sure how soon. I am not sure it was - the Tories only got 32% of the vote - the collapse in the Lib Dem vote helped more than HTB Quote Link to comment Share on other sites More sharing options...
TwoWolves Posted October 11, 2020 Share Posted October 11, 2020 I don't think the generation buy scheme is anywhere near as significant as the Help to Buy props in aggregate, or the Term Funding Schemes. I think it's minor. A political gimmick, may be just to make sure there's a liquid market for Help to Buyers to sell into. The mortgage lenders agree with you here, I suppose the Chancellor never bothered to read Basel III. Quote Link to comment Share on other sites More sharing options...
TheCountOfNowhere Posted October 11, 2020 Share Posted October 11, 2020 Ultimately, sentiment is the key. Sentiment is increasing, people are loving the 3% discount, ok, they're paying 10% more, but it's a 3% discount on the increased prices so saving even more, aren't they !!! My in laws have a new neighbour who've paid 50% more for the house my in laws said was insane in 2008. Then proceeded to tell me prices are going up and will never fall now. Even the prospect of a million deaths, a worldwide depression can dampen the Brits urge to over pay for some dried mud bricks on a block of land that no one really actually owns. f**king mentalness of the highest order, bar none. Quote Link to comment Share on other sites More sharing options...
Si1 Posted October 11, 2020 Share Posted October 11, 2020 The mortgage lenders agree with you here, I suppose the Chancellor never bothered to read Basel III. Mortgage lenders don't do 25 year funding. Pension and insurance companies might. Quote Link to comment Share on other sites More sharing options...
Dreamcasting Posted October 11, 2020 Share Posted October 11, 2020 What you discribe is how I see more young people adapting to changes fast......saving money and living well by shopping well, cooking well, some no longer or eating less meat, avoiding take aways, expensive new branded clothes, happy and proud to get pre-loved used clothes, electronics home furnishings etc exercising differently, at home or walking, running and cycling....not going out as much rather going around friends homes or talking online, meeting outside, talking and walking, visiting parks and gardens, walking beside river, or coast......reading, listening to music and radio......doing more for their social connections, health and mental health.......that doesn't mean spending money. You know that money you've saved on not buying things (petrol and diesel being a biggie)? Well let's double your council tax for starters, re-evaluate after several months, then start taxing some more 😄 Quote Link to comment Share on other sites More sharing options...
Pop321 Posted October 11, 2020 Share Posted October 11, 2020 Sentiment is increasing, people are loving the 3% discount, ok, they're paying 10% more, but it's a 3% discount on the increased prices so saving even more, aren't they !!! My in laws have a new neighbour who've paid 50% more for the house my in laws said was insane in 2008. Then proceeded to tell me prices are going up and will never fall now. Even the prospect of a million deaths, a worldwide depression can dampen the Brits urge to over pay for some dried mud bricks on a block of land that no one really actually owns. f**king mentalness of the highest order, bar none. I feel your pain. I swing around with sentiment on this each day not helped that I am scrutinising the market (for my son) for the first time in years. We won’t jump in but we viewed something ideal yesterday but the location meant the school trip would be a nightmare...so it was research only. So I am reviewing how much prices have increased and where there is value and to be honest it’s a mixed bag. Based on already crazy increases the medium size stone terraces are way out of kilter currently way over long term averages and exceeding 3 bed semis which have gardens, garages, and summer houses. So we will wait till February and see how the market is then. We can use bandwidth and get something that needs lots of cheap cosmetic work and offers good (or at least reasonable) value v’s the long term averages. Those who are buying now at the top of the bandwidth (ie £210k to £275k for the same size semi) because it has ‘Love’ sign in the lounge and ‘coffee’ sign in the kitchen and the walls are grey...so pay £65k than next door...are already in negative equity. Fall or no fall. 😉 Quote Link to comment Share on other sites More sharing options...
TheCountOfNowhere Posted October 11, 2020 Share Posted October 11, 2020 I feel your pain. I swing around with sentiment on this each day not helped that I am scrutinising the market (for my son) for the first time in years. We won’t jump in but we viewed something ideal yesterday but the location meant the school trip would be a nightmare...so it was research only. So I am reviewing how much prices have increased and where there is value and to be honest it’s a mixed bag. Based on already crazy increases the medium size stone terraces are way out of kilter currently way over long term averages and exceeding 3 bed semis which have gardens, garages, and summer houses. So we will wait till February and see how the market is then. We can use bandwidth and get something that needs lots of cheap cosmetic work and offers good (or at least reasonable) value v’s the long term averages. Those who are buying now at the top of the bandwidth (ie £210k to £275k for the same size semi) because it has ‘Love’ sign in the lounge and ‘coffee’ sign in the kitchen and the walls are grey...so pay £65k than next door...are already in negative equity. Fall or no fall. 😉 There is no value anywhere Quote Link to comment Share on other sites More sharing options...
BufferBear Bitcoin Bull Posted October 11, 2020 Share Posted October 11, 2020 Agreed. NPD would be my guess. Yep! Quote Link to comment Share on other sites More sharing options...
BufferBear Bitcoin Bull Posted October 11, 2020 Share Posted October 11, 2020 Sentiment is increasing, people are loving the 3% discount, ok, they're paying 10% more, but it's a 3% discount on the increased prices so saving even more, aren't they !!! 😂 My in laws have a new neighbour who've paid 50% more for the house my in laws said was insane in 2008. Then proceeded to tell me prices are going up and will never fall now. Even the prospect of a million deaths, a worldwide depression can dampen the Brits urge to over pay for some dried mud bricks on a block of land that no one really actually owns. f**king mentalness of the highest order, bar none. It's hugely difficult to remain rational in an irrational market. Trying to to understand it will only frustrate/anger you. It might not feel like it but this is not the time to lose hope... Quote Link to comment Share on other sites More sharing options...
BufferBear Bitcoin Bull Posted October 11, 2020 Share Posted October 11, 2020 (edited) Those who are buying now at the top of the bandwidth (ie £210k to £275k for the same size semi) because it has ‘Love’ sign in the lounge and ‘coffee’ sign in the kitchen and the walls are grey...so pay £65k than next door...are already in negative equity. Fall or no fall. 😉 Good advice no matter the location. Edited October 11, 2020 by Buffer Bear Quote Link to comment Share on other sites More sharing options...
Pop321 Posted October 12, 2020 Share Posted October 12, 2020 There is no value anywhere If there isn’t then my son won’t buy. We won’t get 1995 value but that was a time when relative prices were so low people started to buy as investments (admittedly due to changes in the law re tenancies) but also because yields were huge and prices were very low.......but we are expected to get 2003 type value if I allow for inflation. The North is a mixed bag and whilst our town has always been pricey my research is showing me where prices need to be and we are a good 20% over that. However, that bandwidth of prices is key and we should get 5% below the long term prices albeit we will then have some decorating time to invest which in the past wasn’t necessary. Don’t get me wrong....I don’t disagree and this plan relies on a sentiment change. If that doesn’t happen we won’t buy. It’s just that after this weekend I feel enthused after viewing something that was was below comparisons and hearing comments that ‘it needs too much work’. Wrong location and also we are certainly not buying before February so as I say just research. TBH in our town the 1000’s of expensive new build boxes (which I would say are 40% over priced) are woo’ing the competition from the tatty 1970’s houses my son wants I am sure tomorrow a house will be listed at a record breaking price and I will be deflated again. Quote Link to comment Share on other sites More sharing options...
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