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Talking To Young People In My Office


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i was in cornwall last summer and next to us was a couple from london. we all ended up 'hanging out' and over some fine 'imported' smokes we got to talking about housing and after about 30 seconds i began to feel genuinley sorry for them.

they were a couple in the 30s. they had decent jobs with high pay. good careers and nice people. but they had to share a house with 5 other professionals. all had a room each and was paying top dollar for this. they had no chance of getting housed in fair accom. her bio clock was ticking and his wages were not going to get much higher.

it was stalemate. and they knew it.

no future for you........i thought.

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VP's comments are only offensive if you took them personally - and it appears you did, even though they weren't addressed to you at all.  A case of if the cap fits?

My son is also 30 and, if he were earning £40k a year, there's absolutely no way I'd subsidise him salting thousands away in the bank by allowing him to live at home.  In what way is this any different to parents giving their kids a deposit?

People need independence, that's what we bring our kids up to achieve, I'd see myself as a complete failure if my son was still living at home.

Incidentally - you didn't read what I said again - I said I'd feel a failure, not him.

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Incidentally - you didn't read what I said again - I said I'd feel a failure, not him.

Erm, perhaps your "Get out there and stand on your own two feet no matter what" approach to his up bringing, installed in to him by YOU would make HIM feel a failure in your eyes, hence his 'Pride'

Comment still stands. :rolleyes:

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Do you think that your parents are doing you a massive favour letting you stay at home if you can afford to rent somewhere Frozen Out ? I mean by standing on your own two feet . I moved out when I was 20, my parents didn't force me out but I was encouraged to get my own place, granted that was in 1996 and house prices were lower. I feel that it was the right thing to do looking back, I gained a lot of independance and it helped me grow up. Living at home was great btw and I got on with my parents just fine. :)

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Guest pioneer31

I don't give a toss about peer presure re: HP's and leaving home.

What do I want? To be a poor man for the rest of my life?, or have a few people snigger at me for a while (because I'll have probably lost touch with them in years to come at which point I'll have bought a huse by then anyway)

Stand on your own 2 feet sure but not at the expense of financial ruin

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Just my 10 cents worth.

I had to move back home at 33 for a year after splitting with an ex twopeyette & I must admit was dreading it as I was skinted.

Turned out to be fine as they were never there as being both retired they were either at their caravan or on holiday so I was basically just a caretaker who also paid housekeeping.

Also saved a 30% deposit in that time and when I did see them we got on fine.

When I moved out again , even got their portable telly , 2 towels and a bog brush as prezzies ..

Downside was the stick you get from mates but hey that bog brush is still going so who had the last larff ?

Commenting on FrozenOut situation , he sounds to me like hes doing exacly the same as 90% of the folk on here advocate .

Saving shedloads

Waiting for an affordable house

Not lining some landlords pocket

As long as hes enjoying life as well then & not getting too consumed in HP minutae

then good luck to the dude I say.

Must go , I hear some poor soul is having a go at MONKEY - try and warn him about the legendary elbow before its too late .....

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I Hate winning a discussion by default, but fair enough.

I think you mean winning an argument.

Don't understand this, unless it's the Python version.

Your "argument " is based on the limited information about BL & her offspring obtained from this website. Very dangerous.

I mean, I might conclude you're a whining, freeloading little gobshite.

But I wouldn't, because I don't know you.

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I think you mean winning an argument.

Don't understand this, unless it's the Python version.

Your "argument " is based on the limited information about BL & her offspring obtained from this website. Very dangerous.

I mean, I might conclude you're a whining, freeloading little gobshite.

But I wouldn't, because I don't know you.

Yeah, intelligent post - got anything else to add?

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Hps are only going to correct very slowly in a low inflation environment as nominal falls are always a LOT smaller than the real falls..........

I agree. I'd prefer a bigger, quicker correction but I predict around 5% per annum nominal falls over the next 3 years or so, UNLESS we get at least 2 or more quarter point IR rises, in which case I predict 10% per year.

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I agree. I'd prefer a bigger, quicker correction but I predict around 5% per annum nominal falls over the next 3 years or so, UNLESS we get at least 2 or more quarter point IR rises, in which case I predict 10% per year.

I think it will fall faster, it's a lot about sentiment and that is changing quickly. Without positive sentiment on houses BTL will disappear and without BTL prices will have to fall 30% - 40% before the FTBs can come back into the market. Nobody will want to risk NE and with todays high prices most FTBs will be lucky to have 5% deposit and so the risk of NE will always seem very real if they perceive the market to be a falling one.

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Frozen Out,

I've now tried twice to dampen your objections to my original post, without success. Normally I wouldn't care except I think you sound like a nice bloke and you seem to have a great relationship with your folks.

For the third time, my comments were really not aimed at you personally, and nor do they imply that everyone should assume they were in my line of sight because they happen to be living at home over a certain age.

It was a general opinion expressed, not an accusation.

Please accept my apology if you were personally offended. I was speaking generally, not specifically. If it's any help, one of my best friends still lives with his mum and he's older than you by a long way.

VP

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Frozen Out,

I've now tried twice to dampen your objections to my original post, without success. Normally I wouldn't care except I think you sound like a nice bloke and you seem to have a great relationship with your folks.

For the third time, my comments were really not aimed at you personally, and nor do they imply that everyone should assume they were in my line of sight because they happen to be living at home over a certain age.

It was a general opinion expressed, not an accusation.

Please accept my apology if you were personally offended. I was speaking generally, not specifically. If it's any help, one of my best friends still lives with his mum and he's older than you by a long way.

VP

I lept down your throat this morning, I apologise and accept the apology.

:) Buds?

Just to address a few other points, all those that have made the move away from mum and dad, I salute you - I've got no quarms in admitting you are braver men and women then I am, I don't want a huge 5 bed house with a 500ft garden etc etc I only want to live in my home town of Watford, in a 2/3 bedroom house that I buy for a realistic price ( i.e mortgage per month is 1/3 of my income ) I'm not prepared to rent to prove a point to the world, when really only my family are going to sit up and take notice of what I do and don't acheive in my life.

I can cook ( not very good but I can ) I do my own washing, I do my own ironing and do odd chors to help the folks out.

So when I do leave home I won't be useless and clueless.

I've nothing to prove to, with respect, strangers on a forum or the man, woman, child who I pass in the street and will never see again.

The only thing that matters to me is that when I jump I make the best go of it that I can, I won't jump because people take the pish out of me for STILL being at home - trust me I'd be gone tomorrow if I could.

But untill then, I'll keep putting the money in to ING and building up that ever increasing deposit towards my first house - who knows, maybe my repayments will be a tiny drop in the ocean compared with my monthly salary - allowing me to pay off my mortgage early or upgrade to a bigger house in a nicer area.

There is nothing clever about a mortgage that is 5.5 times my annual Salary on a 2 bedroom flat with a girlfriend and if it happens a small child on the way, infact I can't think of anything more stupid, what will the stranger in the street say ?

"Why did he take on more debt then he could afford" and that will be the small minority of people who actually comment, when the majority simply won't give a shite - which brings me nicely to a close for this post, as I come full circle - I've got nothing to prove to anyone but my family, and I have their backing for my current situation.

:)

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sorry michael but you are way off the mark!!

speculation is the key driver on the upside,and fear of loss is the key driver on the downside...just look at any asset class bubble...why is this one any different.

whenever speculation of capital gain is involved,the downside risks are multiplied...this is why bubbles happen in the first place,but it has an equal and opposite reaction,so expect some hefty price falls as the bulls of last year run for cover...and this will perpetuate itself.

40% falls within 2 years is not unrealistic.

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i was in cornwall last summer and next to us was a couple from london. we all ended up 'hanging out' and over some fine 'imported' smokes we got to talking about housing and after about 30 seconds i began to feel genuinley sorry for them.

they were a couple in the 30s. they had decent jobs with high pay. good careers and nice people. but they had to share a house with 5 other professionals. all had a room each and was paying top dollar for this. they had no chance of getting housed in fair accom. her bio clock was ticking and his wages were not going to get much higher.

it was stalemate. and they knew it.

no future for you........i thought.

I saw them on telly a while ago in a drama called This Life.........

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right_freds_dead maybe be a smei-comedy poster, but he's right about shared house hell.

One or two people seem to think this is 'fun'. Well, maybe they rent a big house in a trendy part of London with their city-worker-cum-Nathan-Barley mates and go out and do a few lines on a weekend.

For everyone else, it means living in slummy overcrowded hellholes. It used to be a London thing, but it's spread to the whole country. It won't be long before we'll be earning a good and wage in living in six-level bunkbeds like the Hong Kong underclass.

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