Jump to content
House Price Crash Forum
Sign in to follow this  
snowman

I'm More Screwed Than You.

Recommended Posts

My first post - I've been lurking for years.

I'm 32, living with my girlfriend and 10 week-old daughter on the South Coast. I have a first-class degree and PhD in Chemistry from Cambrige and a "good" job in the chemistry industry. My girlfriend also has a degree (in art), but was working in a shop until we had our baby. I earn 30K +. Needless to type, we can't afford to buy a house. We're renting a nice 2-bed flat for 700 pcm. We've saved 16k for a deposit, though that's not likely to go up now that we're a single earner family. The cheapest house in my area is 150K - flat above a launderette, that sort of thing. Yes, we could probably buy that sort of thing - but the risk is high (borrowing 5x) and I'm not prepared to do that for a toilet.

Decided today to apply for a council house - sorry, that should be "affordable" house. Not quite what I had in mind when I went to university. I have friends that left school at 16 to dig road trenches that are wealthier than me. Great for them. Shite for me. Eagerly voted Labour in 97, will never vote for them again. I regularly write to Tony and Gordon to point out how they are screwing up the economy. I'm convinced the SIPPs u-turn was a result of one of my letters :rolleyes:

This post is in part reply to a post from a hopeful FTB expecting a baby later this year, who'd decided not to put his life on hold any longer. He was only 26. Being a few years older than that poster, I hope he takes some comfort from the fact that I'm probably more screwed than he is. But having a baby is great ..... and all they need is love. So enjoy it.

Please spare me the well-meaning advice about how to save money, for example by re-cycling the contents of my toilet as fertilizer to save money on water bills, or by eating hair and washing-up in the bath. I am the king of thrift.

In summary, I'm screwed - it appears to me that the crash is never going to happen and I'll be renting forever ...

On a positive note - a flat down the road was on the market to rent at 750 pcm for a couple of months and has just been reduced to 695 pcm. I take comfort in the fact that at least one BTL investor may also be screwed ... only another million or so to go .

Share this post


Link to post
Share on other sites

You may well be renting for a while longer yet, too. Don't let it spoil things - life's too short.

They've got a depreciating BTL flat, you've got a young daughter. Who's luckiest?

Share this post


Link to post
Share on other sites

snowman so many are in the same position as you, and its exactly the reason it will all come crashing down.

how many more millions of people under 40 are gonna be screwed before its only the people that bought houses in this country pre 2000 that own anything at all ?

Share this post


Link to post
Share on other sites
Guest
Eagerly voted Labour in 97,

Ok, we'll leave this point aside for a moment. I never have because my parents always gave me the impression that it was Labour that f**ked up everything in the first place. Not necessarily that the Tories cleaned up, but just that Labour f****d up. If you see what I mean.

A lot of people on here are in their late 20s/early 30s. We have a "please tell everyone your age" thread every so often, so I know this. We also talk about the depression this has caused. But that's a bit girly sh1t so I won't touch upon that coz we're all hard men here.

Guess you have to take heart that the economy - and I just love this new phrase I learned - will just "price it all in".

This is econo-geek-speak for "sh1t man if everyone's in the same boat then we're all as f***d as each other".

So. To realise their "gains"; just who exactly is going to buy the houses of the lucky-to-have-boughts-before-2000s? Oh I forgot - the recently divorced Polish-indo-Islamic-immigrants. Yeah right.

Who is going to buy my father's house? It's here in south manchester. Probably he'd ask 650K. Divide that by two to get the year 2000 price for a touch of sanity as to how much it's really worth.

Anyhow, at the end of the boom, our old friends at the Bank Of England stuffed interest rates up to 4.5% from a low of 3.5% so that's a 28% increase in interest payments. Guess it's no coincidence that the housing party stopped. Let's just see how screwed we as a country get by resisting further rises, as our foreign friends put their all-important rates up, eh?

:rolleyes::P

Share this post


Link to post
Share on other sites

what really winds me up is when tony blair rants on about 18 years or tory rule and they messed the country up. Does he not realise WHY the conservatives were in power for 18 years!!!!!!!!, they survived major recessions, the miners strike, council tax, privatising the county. These were not done out of Want but were necessary to get the UK back as a financial power. People seem to forget that Labour ******ed this country up firstly by killing any persons desire to better themselves i.e the Aerospace industry in the 1960s when TSR2 was ready but was cancelled for the crap F111, and the supersonic harrier was in design was cancelled due to "lack of funding". The APT was cancelled due to the unions striking. I could list more but it will get tiresome.

When this current government came to power they were handed a very stable economy, the first this they did was to hand control of IR over to the BOE, thus washing to chancellors hands of any further mistakes made. Next he taxed us to hell, by firstly removing the married allowance on PAYE and all the other stealth taxes.

So in other words it has taken tony blair and his gang to make a complete mess of the country and convince 92% of the population that everything is OK

New labour = old labour but without any council houses available

So in other words WERE ALL ******ED and i hope anyone on here who voted labour in 97 feels very ashamedof themselves

Share this post


Link to post
Share on other sites
Guest

Tony Blair has ten things going for him:

1. He is head of the party that extended drinking hours.

2. He legalised min-brothels

3. Is about to turn Blackpool into a Las Vegas that's better than Las Vegas

4. Is about to ban smoking

5. Used D-Ream's "Things can only get better" as a theme in 1997, so he's got to be good.

6. Has a wife called "Cherie" which is an unusual name.

7. Had a baby even though it was a bit far apart from his other kids ages.

8. Admitted that he did find politician to be a bit of a "pain in the ****" in a TV programme I saw.

9. Pauses a lot in sentences which makes Rory Bremner's job much easier.

10. Has now all but completely disappeared from the limelight IMO, and is just waiting to beat Maggie's time in power before buggering off to do chat shows and They Think It's All Over / Question Of Sport / Never Mind The Buzzcocks.

Share this post


Link to post
Share on other sites

Vote with your feet, emigrate! :)

However, you can take a strange sort of comfort in the fact you have a PhD and above average wage yet are locked out, that means lots of people are even more woefully screwed than you.

Don't pay their game, don't stretch to x6 earnings for a dump, don't buy into their part ownership bumph, simply abstain from the market and everything will seize up eventually. By definition lots of people are locked out and can't participate in the market even if they wanted to.

I wouldn't expect politicians to be concerned, they're calculating creatures and simply follow the most votes, that increasingly means pensioners and what they like to term 'hard working families' which is actually a nice term for the state dependent underclass, which is great as you can easily frighten these 'client groups' into voting for you. As for students, debt, first time buyers... f*ck 'em.

Anyway, on a positive note just be patient don't run up debts and watch as the gross imbalances correct themselves, as they always do.

Share this post


Link to post
Share on other sites

Ok, we'll leave this point aside for a moment. I never have because my parents always gave me the impression that it was Labour that f**ked up everything in the first place. Not necessarily that the Tories cleaned up, but just that Labour f****d up. If you see what I mean.

It's fair to say that some people didn't like Mrs T, and still don't until this day, that's understandable. However, it's quite interesting to ask yourself who brought her into being in the first place, and what maintained her in power, there must have been a groundswell of dissatisfaction and anger to justify such a move. The answer is that somebody must have screwed up big time :-

300px-Finsburyparkrubbish.jpgFordstrikers.jpgOutofpetrol1979.jpgCohsepicket.jpgphot2.jpgrubbish.jpg140-445.jpgCrisiswhatcrisis.jpg

Those of us who weren't around or old enough to remember may not realise the gravity of what happened back then, a picture is worth a thousand words.

Tgwuemergencygoods.jpg

Armyambulances79.jpg

Share this post


Link to post
Share on other sites

Vote with your feet, emigrate! :)

Seriously considering it for a while. Only problem is, the Australian job market is historically completely f*cked and I don't fancy going from 30K British to 30K Australian and returning to my roots as a blonde typist.

Share this post


Link to post
Share on other sites
10. Has now all but completely disappeared from the limelight IMO, and is just waiting to beat Maggie's time in power before buggering off to do chat shows and They Think It's All Over / Question Of Sport / Never Mind The Buzzcocks.

Or heading up the EU, the UN or more likely disapearing into the arms of the Carlisle Group.........

Share this post


Link to post
Share on other sites

I think a lot of younger people on here have lost hope - they haven't seen economic cycles - things change - they always do - you just have to wait....

Share this post


Link to post
Share on other sites

My first post - I've been lurking for years.

I'm 32, living with my girlfriend and 10 week-old daughter on the South Coast. I have a first-class degree and PhD in Chemistry from Cambrige and a "good" job in the chemistry industry. My girlfriend also has a degree (in art), but was working in a shop until we had our baby. I earn 30K +. Needless to type, we can't afford to buy a house. We're renting a nice 2-bed flat for 700 pcm. We've saved 16k for a deposit, though that's not likely to go up now that we're a single earner family. The cheapest house in my area is 150K - flat above a launderette, that sort of thing. Yes, we could probably buy that sort of thing - but the risk is high (borrowing 5x) and I'm not prepared to do that for a toilet.

Decided today to apply for a council house - sorry, that should be "affordable" house. Not quite what I had in mind when I went to university. I have friends that left school at 16 to dig road trenches that are wealthier than me. Great for them. Shite for me. Eagerly voted Labour in 97, will never vote for them again. I regularly write to Tony and Gordon to point out how they are screwing up the economy. I'm convinced the SIPPs u-turn was a result of one of my letters :rolleyes:

This post is in part reply to a post from a hopeful FTB expecting a baby later this year, who'd decided not to put his life on hold any longer. He was only 26. Being a few years older than that poster, I hope he takes some comfort from the fact that I'm probably more screwed than he is. But having a baby is great ..... and all they need is love. So enjoy it.

Please spare me the well-meaning advice about how to save money, for example by re-cycling the contents of my toilet as fertilizer to save money on water bills, or by eating hair and washing-up in the bath. I am the king of thrift.

In summary, I'm screwed - it appears to me that the crash is never going to happen and I'll be renting forever ...

On a positive note - a flat down the road was on the market to rent at 750 pcm for a couple of months and has just been reduced to 695 pcm. I take comfort in the fact that at least one BTL investor may also be screwed ... only another million or so to go .

Snowman, I was going to tear your post apart, then I noticed it's your first post, so I'll be gentle.

Firstly, if you have a first class degree from Cambridge, I'd at least expect you to spell the college name correctly (i know, I know, an anally retentive point! :rolleyes: )

Secondly: you state your educational achievement as if it merits some sort of immediate payback; in this instance, immediately affordable housing of the type that you want, in the locality that you want. Unfortunately for you, this is not what degrees are for (apart from the fact that I am unsure of what degrees ARE for anymore in many cases!)

Thirdly, you have decided to apply for a council house. Well, I could rant here, but considering you earn £30K plus, plus you and your GF are both able-bodied (I assume) why on earth do you think the state should subsidise you when you can afford private housing, just so you can buy your council home at a knock-down rate a few years down the line and make a fat profit at the expense of other tax-payers? I do assume here (and hope) that you will be so far down the list in terms of eligibility that you will give up hope of getting a council home before you actually get one.

So you are about 29 or 30 I assume. Stop moaning because places are currently out of your reach. If you don't see property as a good investment right now (understandably), then invest your cash sensibly and tax efficiently, and wait till P/E ratios are more favourable.

EDITED TO ADD: you mention friends with manual jobs who have more than you do, having left school at 16... well, don't forget, they have been ECONOMICALLY PRODUCTIVE FOR HALF YOUR LIFESPAN WHILE YOU HAVE NOT!!

Edited by xian

Share this post


Link to post
Share on other sites

It's fair to say that some people didn't like Mrs T, and still don't until this day, that's understandable. However, it's quite interesting to ask yourself who brought her into being in the first place, and what maintained her in power, there must have been a groundswell of dissatisfaction and anger to justify such a move. The answer is that somebody must have screwed up big time :-

Yes, but look at the newspaper reports for how era ended. It was no better. Britain's decline as an industrial power has continued apace for the last half century.

Blair, for all his faults has presided over an era of unparallel stability. There will probably be a period of retrenchment though. It is just part of the natural order.

I cant afford a big house either. I don't particularly consider it his fault. Everybody decides they want a big house at the same time, the price goes up, I cant have one. Poor me.

I cant really see myself ever supporting the conservative party though. Not until they stop sounding like uneducated, mean spirited, cold hearted bigots.

That and the fact that they seem to regard a return to an era of no social provision as some sort of golden age. That's probably why they are so unelectable.

Also I doubt very much whether they will lift a finger to change the current housing situation as it suits the interests of their core supporters as it stands.

On the other hand, I see Blair and Brown making very many sensible decisions to control the cost of housing.

I would not really vote for them myself, but is nothing to do with their economic record or otherwise. More their prescriptive, authoritarian approach.

Share this post


Link to post
Share on other sites

What is selectively often forgotten when slating the Tories is the simple fact that they handed over a Positive Trade Balance, and a huge money pot called the war chest. However Labour interpreted it as just that and squandered the lot on a failed project to bring socialism to the Iraqi people by force leading to the deaths of many tens of thousands of women and children, and throwing the region into chaos making the world a very unsafe place for our children now, and in the future.

The tories presided over a Global Rescession, whereas Labour have precided over the salad years of Global economic activity. If you thinks its bad now, with a record trade deficit, and record borrowings it is simply terrifying to imagine what its going to be like in a rescession!!.

Thatcher turned the unionised sick man of Europe into a fine tuned economic powerhouse. Britain maintained it position of punching well above its weight in all areas and Maggie was a visionary with regard to the corruption and chaos that would go on to be caused by the EU.

She rightly demanded a rebate and as a perfect negotiator with the interests of her people and country at heart she got it.

In contrast Blair sold out, for personal gain yet to be cashed in but be sure he will get repaid in full at a later date on a personal leve.

The current economic dynamics of this country are now in chaos, hence the reason that not even the most educated economist can predict next week let alone next year or a decade. Lacking a positive direction for any nation is detrimental and can only end in tears. The business plan for the UK has been rewritten on a daily basis to suit with the figures cherrypicked for effect. They are not hard to see through, but given the lack on interest in their future by the general population not surprising little resistance to the policies is noticed.

For my money I would reckon that we have reached a juncture in the life of the UK. We have two roads to go down. The first is the road of a Government keen to control a dissatisfied population and keen to quiesse any dissent in an instant. Or the road of freedom, where we dicate our own futures and continue to elect a Government to carry out our wishes as opposed to their own.

Share this post


Link to post
Share on other sites

Yes, but look at the newspaper reports for how era ended. It was no better. Britain's decline as an industrial power has continued apace for the last half century.

that is normal and relatively healthy for a developing society in global terms. Productivity is not necessarily tied to manufacturing. We need to look at non-physical productivity also.

Blair, for all his faults has presided over an era of unparallel stability. There will probably be a period of retrenchment though. It is just part of the natural order.

yes, thanks to inheriting the economic landscape of the preceding government!

I cant afford a big house either. I don't particularly consider it his fault. Everybody decides they want a big house at the same time, the price goes up, I cant have one. Poor me.

True. But as we all know, prices are cyclical. You'll get one when the price is right, and I hope it's a lovely one. :)

I cant really see myself ever supporting the conservative party though. Not until they stop sounding like uneducated, mean spirited, cold hearted bigots.

hmmmm. wait a bit, then see what you think! Is not raiding pension plans for future retirees not mean-spirited given that there will be no state pension when we retire? Is not raising national insurance contibutions for the entire electorate when no tax rises were promised in the manifesto not mean-spirited?

That and the fact that they seem to regard a return to an era of no social provision as some sort of golden age. That's probably why they are so unelectable.

I don't believe they do advocate this. They simply want to see a little more balance in public spending against GDP, and a greater self-responsibility. No government in the UK (even Conservative "right wing" which has become right-liberal) sees mass-removal of social safety-net as a socially advantageous move. And I do not think they are so unelectable anymore.

On the other hand, I see Blair and Brown making very many sensible decisions to control the cost of housing. .
:lol:

I would not really vote for them myself, but is nothing to do with their economic record or otherwise. More their prescriptive, authoritarian approach.

Yeah. bugg*r ID cards, unless we have a real explanation as to why the public purse should spend sooooo much and what benefits it ACTUALLY brings!!

Edited by xian

Share this post


Link to post
Share on other sites

Blair, for all his faults has presided over an era of unparallel stability.

You mean an unparallel era of debt creation, the likes of which we have never seen before. It took 300 years to run up £400m worth of debt, that's exploded to £1200m in less than 5 years.

Just wait until these excesses need to be worked out of the system, 'stability' will not feature.

Share this post


Link to post
Share on other sites

The tories presided over a Global Rescession, whereas Labour have precided over the salad years of Global economic activity. If you thinks its bad now, with a record trade deficit, and record borrowings it is simply terrifying to imagine what its going to be like in a rescession!!.

Er, no they did not.

Share this post


Link to post
Share on other sites

Snowman, I was going to tear your post apart, then I noticed it's your first post, so I'll be gentle.

Firstly, if you have a first class degree from Cambridge, I'd at least expect you to spell the college name correctly (i know, I know, an anally retentive point! :rolleyes: )

Secondly: you state your educational achievement as if it merits some sort of immediate payback; in this instance, immediately affordable housing of the type that you want, in the locality that you want. Unfortunately for you, this is not what degrees are for (apart from the fact that I am unsure of what degrees ARE for anymore in many cases!)

Thirdly, you have decided to apply for a council house. Well, I could rant here, but considering you earn £30K plus, plus you and your GF are both able-bodied (I assume) why on earth do you think the state should subsidise you when you can afford private housing, just so you can buy your council home at a knock-down rate a few years down the line and make a fat profit at the expense of other tax-payers? I do assume here (and hope) that you will be so far down the list in terms of eligibility that you will give up hope of getting a council home before you actually get one.

So you are about 29 or 30 I assume. Stop moaning because places are currently out of your reach. If you don't see property as a good investment right now (understandably), then invest your cash sensibly and tax efficiently, and wait till P/E ratios are more favourable.

EDITED TO ADD: you mention friends with manual jobs who have more than you do, having left school at 16... well, don't forget, they have been ECONOMICALLY PRODUCTIVE FOR HALF YOUR LIFESPAN WHILE YOU HAVE NOT!!

Snowman, I was going to tear your post apart, then I noticed it's your first post, so I'll be gentle.

That’s very generous of you!

Firstly, if you have a first class degree from Cambridge, I'd at least expect you to spell the college name correctly (i know, I know, an anally retentive point! :rolleyes: )

I suppose you’ve never made any spelling mistakes? And why should having a first class degree make you any less susceptible to making a spelling mistake?

Secondly: you state your educational achievement as if it merits some sort of immediate payback; in this instance, immediately affordable housing of the type that you want, in the locality that you want. Unfortunately for you, this is not what degrees are for (apart from the fact that I am unsure of what degrees ARE for anymore in many cases!)

Maybe he is p1ssed off at having being sold a lie by the government, namely that we should all aim as high as possible academically then reap the rewards through higher salaries and a better quality of life afterwards.

Thirdly, you have decided to apply for a council house. Well, I could rant here

You could rant? What has it got to do with you if he wants to apply for a council house?

but considering you earn £30K plus, plus you and your GF are both able-bodied (I assume) why on earth do you think the state should subsidise you when you can afford private housing,

So council houses are only for the disabled and those earning less than £12k then? Exactly where does it stipulate this? Perhaps you think that we should only be letting out council houses and having the state subsidise those dealing in drugs or too bone idle to work and fraudulently claiming incapacity benefit? It is not his fault that the government have landed us in the current house price situation through their lax monetary policy, and he is as entitled as the next man to apply for council housing so long as he contributes his taxes like the rest of us.

just so you can buy your council home at a knock-down rate a few years down the line and make a fat profit at the expense of other tax-payers

As above, if the government hadn't landed us in this mess in the first place he would have been able to afford to buy a place without needing a discount.

I do assume here (and hope) that you will be so far down the list in terms of eligibility that you will give up hope of getting a council home before you actually get one.

This quote says everything about your personality

So you are about 29 or 30 I assume

If you could read properly you would know he is 32!

you mention friends with manual jobs who have more than you do, having left school at 16... well, don't forget, they have been ECONOMICALLY PRODUCTIVE FOR HALF YOUR LIFESPAN WHILE YOU HAVE NOT!!

So you would advocate us all leaving school at 16 and taking manual work? That would do the power of good for our economy wouldn't it?

Share this post


Link to post
Share on other sites

hmmmm. wait a bit, then see what you think! Is not raiding pension plans for future retirees not mean-spirited given that there will be no state pension when we retire? Is not raising national insurance contibutions for the entire electorate when no tax rises were promised in the manifesto not mean-spirited?

I don't believe they do advocate this. They simply want to see a little more balance in public spending against GDP, and a greater self-responsibility. No government in the UK (even Conservative "right wing" which has become right-liberal) sees mass-removal of social safety-net as a socially advantageous move. And I do not think they are so unelectable anymore.

If that's what they are advocating, then they are singularly failing to get their message across. All I can hear is the braying of reactionary idiots.

I don't disagree that something needs to be done, that we need to work harder, that there needs to be more efficiency and better accountability, but Cameron is just not getting his message across.

How difficult can it be for gods sake. I think, in principal, I don't disagree with much of what you say, but the conservative party is simply failing to sound like they have a solid, positive agenda for change.

Surely self reliance and self control are the virtues espoused by the conservative party. Why do their supporters seem to blame everyone but themselves for their problems.

Yes you might have a Phd in chemistry, but so do millions of equally deserving and talented people. You are in an over supplied profession. The world does not owe you a living.

Gordon brown did not create the debt burden. The people who went out and got the credit did. As far as I can see, as a nation, we need a slap and to stop finding excuses.

Share this post


Link to post
Share on other sites

Gordon brown did not create the debt burden. The people who went out and got the credit did. As far as I can see, as a nation, we need a slap and to stop finding excuses.

No, Gordon created his own debt burden that is in excess of and in addition to the consumer debt burden. When you add government debt, the myriad of PPI/PFI, off balance sheet debts and pension liabilities you get to a liability of £1.4 trillion in the public sector alone, as with consumer debt, this is also in excess of annual GDP.

You also have corporate debt, of course.

Edited by BuyingBear

Share this post


Link to post
Share on other sites

No, Gordon created his own debt burden that is in excess of and in addition to the consumer debt burden. When you add government debt, the myriad of PPI/PFI, off balance sheet debts and pension liabilities you get to a liability of £1.4 trillion in the public sector alone, as with consumer debt, this is also in excess of annual GDP.

You also have corporate debt, of course.

You make a very valid point here. Its the mentality of the whole island. It a prolifigacy that extends from individual to goverment to corporate. It a cultural given that is so deep, only a crash will bring it down, and that will last as long as the pain, but I reckon it will be pretty much forgotten as soon as those bankrupts have their credit status restored, and another card in their hands. It will be 7 year WOOPEE ... 7 year SPLAT all over again.

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...
Sign in to follow this  

  • Recently Browsing   0 members

    No registered users viewing this page.

  • 301 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.