W12 Posted March 21, 2008 Share Posted March 21, 2008 http://property.timesonline.co.uk/tol/life...icle3590383.ece Some gems: "After the collapse of Bear Stearns, a previously obscure institution that became a household name over a weekend, much has been written about how the CDO barged its way into your living room, an unwelcome guest likely to stick around for a while". "But one of the most popular sources of funds this year will be the Bank of Mum and Dad; parents who have made a wise investment in property will be using their equity to turn their children from tenants into owner-occupiers. This will be an example of mature behaviour, based on the view that the monetary value of a home is only one of its attractions". Quote Link to comment Share on other sites More sharing options...
Guest Bart of Darkness Posted March 21, 2008 Share Posted March 21, 2008 But one of the most popular sources of funds this year will be the Bank of Mum and Dad What do you do if you're an orphan? Quote Link to comment Share on other sites More sharing options...
tuggybear Posted March 21, 2008 Share Posted March 21, 2008 (edited) Anne Ashworth's is a financial wizzzzzzzz I wonder how much she would charge for a one on one! Yep, her and my very large fist! :lol! Edited to inclued Crusty, I forgot I have two fists. ( i'll split the price) Edited March 21, 2008 by tuggybear Quote Link to comment Share on other sites More sharing options...
DinosaursAreAwesome Posted March 21, 2008 Share Posted March 21, 2008 http://property.timesonline.co.uk/tol/life...icle3590383.eceSome gems: "After the collapse of Bear Stearns, a previously obscure institution that became a household name over a weekend, much has been written about how the CDO barged its way into your living room, an unwelcome guest likely to stick around for a while". "But one of the most popular sources of funds this year will be the Bank of Mum and Dad; parents who have made a wise investment in property will be using their equity to turn their children from tenants into owner-occupiers. This will be an example of mature behaviour, based on the view that the monetary value of a home is only one of its attractions". This article is terrible. If I were marking this as an A level piece it would get maybe a C, mainly because she ran the spell&grammer check properly. Non-sensical, disjointed purposeless dross: I am genuinely surprised to see it in print. To save you a click she gives a muddled account of subprime, blames all our problems on it, before concluding its not really a problem for no real reason at all. Then under a subheading for apparently the same piece she fills the rest of the page with a description of an expensive house having clearly run out of material. Quote Link to comment Share on other sites More sharing options...
right_freds_dead Posted March 21, 2008 Share Posted March 21, 2008 just makes you want to save more gold really. this isnt just a dumb reader of the times, its a writer in the times. theres no hope. collective dumbness seems to be a current uk illness. Quote Link to comment Share on other sites More sharing options...
dstars Posted March 21, 2008 Share Posted March 21, 2008 This article is terrible. If I were marking this as an A level piece it would get maybe a C, mainly because she ran the spell&grammer check properly. Non-sensical, disjointed purposeless dross: I am genuinely surprised to see it in print. To save you a click she gives a muddled account of subprime, blames all our problems on it, before concluding its not really a problem for no real reason at all. Then under a subheading for apparently the same piece she fills the rest of the page with a description of an expensive house having clearly run out of material. I expect she wrote it last year and it must have lost it down the back of the sofa. Our media are disgraceful. Amongst other effects, this catastrophe will strengthen the internet and weaken traditional news sources. On this looney forum I have read analysis infinitely more cogent than anything at all in the regular media. Still, even with the cgano types making us look like hysterical nutjobs, the actual issues are sought whilst the media twitter on about whatever the 'system' tells them to. Quote Link to comment Share on other sites More sharing options...
Guest Shedfish Posted March 21, 2008 Share Posted March 21, 2008 What do you do if you're an orphan? or if your folks are skint / uncooperative / permanently pissed / absent not everyone has a pony and paddock, second home in the med, 3 beemers and a life coach hurray for Anne Ashworth. whadda lady Quote Link to comment Share on other sites More sharing options...
thecrashingisles Posted March 21, 2008 Share Posted March 21, 2008 But one of the most popular sources of funds this year will be the Bank of Mum and Dad; parents who have made a wise investment in property will be using their equity to turn their children from tenants into owner-occupiers. This will be an example of mature behaviour, based on the view that the monetary value of a home is only one of its attractions. So the mature behaviour is to throw away all your paper gains by leveraging your children into massive debt, because hey - it's only money! Quote Link to comment Share on other sites More sharing options...
JustAnotherProle Posted March 21, 2008 Share Posted March 21, 2008 What I find really hard to grasp is that Annies boss doesn't look at her articles and promptly sack her, it's nothing but absolute dross, this is the Times for darwins sake! This article can be summed up as a long boring monument to ill informed drivel with a large proportion of the article seemingly dedicated to ramping the "Sandbanks house", why doesn't Annie just become an Estate Agent and save us from her waffle? 1/10 Annie ..yet again. Quote Link to comment Share on other sites More sharing options...
Authoritarian Posted March 21, 2008 Share Posted March 21, 2008 Credit where credit's due (if you'll excuse the pun) Its not an easy gig ramping property these days so she better fill all the column inches she can before she gets the sack. Quote Link to comment Share on other sites More sharing options...
Freeholder Posted March 21, 2008 Share Posted March 21, 2008 At the sight of an adult child wanting some of my small means to invest in property my instinct would be to reach for my shotgun. Quote Link to comment Share on other sites More sharing options...
Bloo Loo Posted March 21, 2008 Share Posted March 21, 2008 (edited) So the advice is , if you aint got enough credit to buy a house, get your family to MEW with more credit. Idiot- except, I guess shes getting the idea from the banks themselves- they cant get credit to finance their operations, so they need big daddy merkin ving to mew taxpayers for the sub. Edited March 21, 2008 by Bloo Loo Quote Link to comment Share on other sites More sharing options...
BandWagon Posted March 21, 2008 Share Posted March 21, 2008 (edited) Her ignorance is amazing... At that time, we had only an inkling of the foolhardiness of some of the players in these markets, including the UK banks. Well maybe you and your colleagues at the Times had only an inkling, but there are other people who were extremely concerned about these issues, including various senior members of the Bank of England, numerous world leading economists, and all sorts of other people who actually take an active interest in what is happening in the world. The scarcity of finance will depress property prices. Really? Maybe the problem is that the prices are too high, I wonder if that thought has ever occurred to any of the writers at the Times? The bathroom in the master bedroom of the Sandbanks house has a plasma TV screen. Do you laugh, or do you cry? Edited March 21, 2008 by BandWagon Quote Link to comment Share on other sites More sharing options...
Guest An Bearin Bui Posted March 21, 2008 Share Posted March 21, 2008 What do you do if you're an orphan? Or, Heaven forfend, a member of the lower orders with working-class or welfare-dependent parents - one's parents simply wouldn't have the necessary moolah to indulge one's property ambitions! It would be simply frightful - doesn't bear thinking about really, old bean. Anne clearly lives in Bank of Mater and Pater trustafarian land... the Times needs to start employing some journalists who actually need to work for a living or they're going to lose their entire readership in the recession. I have a feeling the yummy mummy, Islington-dwelling readership they currently aim for will be unable to afford newspapers very soon once their BTL properties bankrupt them and the mews house is repossessed (frightful!). They'll be reduced to cadging free copies of Metro from buses to line their cardboard box with... Quote Link to comment Share on other sites More sharing options...
Harry Sacks Posted March 21, 2008 Share Posted March 21, 2008 (edited) The comments are absolutely mint! AnneBear Stearns was probably quite obscure to residents of Pyongyang but to someone writing about property and finance? It's only as obscure as one's blinkers make it. And CDOs ducky poos are the clever financial instruments that allowed banks to get debt and thus risk off their books and thus lower the cost of borrowing for many years ushering in the era of cheap credit that ensured house prices lost touch with the fundamentals. Meanwhile the Bank of Mum and Dad is as likely as the big obscure investment institution on Wal Street to be quaking in its boots at the moment for fear that all that equity built up in that house of theirs is illusory. Unless the BoMaD downsized at the top of the market and enjoy a degree of liquidity they're going to be as bearish as....well Bear Sterns presumably. Meanwhile I notice that a help line for distressed estate agents is in the process of being set up. Good timing... Jonathan, Wadhurst, Edited March 21, 2008 by dom Quote Link to comment Share on other sites More sharing options...
BoomBoom Posted March 21, 2008 Share Posted March 21, 2008 Why is this fatuous bint getting paid to write this drivel? So Dear anne thinks it's a good thing that parents find it a necessity (if they are financially able to do so) to invest significant sums of money into a hugely bubbly property market, just so their progeny can have a roof over their heads. I bet she still thinks BTL is where the smart money is. Quote Link to comment Share on other sites More sharing options...
BoomBoom Posted March 21, 2008 Share Posted March 21, 2008 Nice to see the **** getting a good telling off in the comment section. Quote Link to comment Share on other sites More sharing options...
Scunnered Posted March 21, 2008 Share Posted March 21, 2008 But today “CDOs” are having an equal - but much less beneficial - effect. These malign influences on the price of your property are collateralised debt obligations, bundled-up packages of loans such as the mortgages sold to US sub-prime borrowers who never ought to have been lent a cent. But nothing like that's happened here has it, Anne? So everything's just fine here, isn't it? Quote Link to comment Share on other sites More sharing options...
Daft Boy Posted March 21, 2008 Share Posted March 21, 2008 Anne Ashworth's is a financial wizzzzzzzzI wonder how much she would charge for a one on one! Yep, her and my very large fist! :lol! Edited to inclued Crusty, I forgot I have two fists. ( i'll split the price) Is fisting legal in Britain ? Quote Link to comment Share on other sites More sharing options...
lulu Posted March 22, 2008 Share Posted March 22, 2008 (edited) http://property.timesonline.co.uk/tol/life...icle3590383.ece"But one of the most popular sources of funds this year will be the Bank of Mum and Dad; parents who have made a wise investment in property will be using their equity to turn their children from tenants into owner-occupiers. This will be an example of mature behaviour, based on the view that the monetary value of a home is only one of its attractions". Or alternatively if one's parents have any damned sense they will realise how this is all going to end up and are not going to risk the security of their own home and will let their little darlings continue renting - as my parents are doing to me and my siblings - nothing wrong with that in my mind and it has never crossed my mind to insist, the whole thing is going tits up and my parents have been around long enough to realise that the least sensible thing to do would do would MEW for a deposit for their kid's house when is Anne Ashworth going to wake up and realise that the game is up!? Though to be fair my parents would put even Realist Bear and others on here to shame with their "bearist" views Edited March 22, 2008 by lulu Quote Link to comment Share on other sites More sharing options...
The Generation Game Posted March 22, 2008 Share Posted March 22, 2008 I told my parents to keep their mortgage-free house exactly that, mortgage-free. I shall rent for the foreseeable and wait for sanity to return to the markets. The bank of mum and dad can be tapped for more effective things than a deposit for an overpriced shoebox, such as a rent-free crash pad if needed Quote Link to comment Share on other sites More sharing options...
Cogs Posted March 22, 2008 Share Posted March 22, 2008 I told my parents to keep their mortgage-free house exactly that, mortgage-free.I shall rent for the foreseeable and wait for sanity to return to the markets. The bank of mum and dad can be tapped for more effective things than a deposit for an overpriced shoebox, such as a rent-free crash pad if needed I agree and I hate this 'climate' where such things are talked about all the time by the Ashworths of this world. I've mentioned before I've had a very uncomfortable talk with my parents where they expressed the concern that they'd let me down according to things they'd read in the newspaper and was there anything they could do? Honestly, I'm a big ugly bloke and I wanted to cry. How dare they be made to feel like that by properdee rampers. These people make me furious, my parent's finances are their own business, its nothing to do with me and I don't want any of it. Whatever happened to a sense of honour; the quiet pride in making your own way? This "bank of mum and dad" nonsense is just a posh version of shameless welfare dependency and not one jot more morally acceptable. Quote Link to comment Share on other sites More sharing options...
Qetesuesi Posted March 22, 2008 Share Posted March 22, 2008 What I find really hard to grasp is that Annies boss doesn't look at her articles and promptly sack her Perhaps he's already 'sacked' her, many times? :angry: :angry: :angry: Seriously, which of us would be much surprised if that transpired to be the case? This is NL 2008, not a meritocracy. This hypothesis offers such a clear explanation of what's puzzling forumites here, that it's not hard to suggest it with a sadly large measure of plausibility. Quote Link to comment Share on other sites More sharing options...
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