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Okay this is likely to be side lined into the Anecdotal thread, but seriously, having been back to a typical 'market town' in Yorkshire, my god. It was like Night of the Living Dead. Imagine the Middle Ages, transporting peasants back to today, then you can picture the people I encountered on a night out.

£150k - £200k for an average home my backside, slash em to £30k and I'd be interested in buying. Elsewise I am going to keep renting in an urban sprawl chicken coup, great! My frustration with this country is reaching a fookin climax!

Rant over

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This might sound like an excessive rant but after talking to a close friend of mine, she confided how he and otherr friends are living. Earning £500 before tax, they all had £220k mortgages, Audi cars on 08 plates and about £80 spare per month. All with teeth missing. What is it all about?

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That's the key though. Having the self-confidence to look at a house, mentally calculate its worth, and laugh at the estate agent valuation.

Ignore the herd, this site is the meeting ground for refuseniks who know the price and the VALUE of everything.

Houses are ludicrously over-valued. Know that and act upon it (i.e. RENT). But don't go round tellng people as they won't thank you for it when they've mortgaged their futures.

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Guest mattsta1964
That's the key though. Having the self-confidence to look at a house, mentally calculate its worth, and laugh at the estate agent valuation.

Ignore the herd, this site is the meeting ground for refuseniks who know the price and the VALUE of everything.

Houses are ludicrously over-valued. Know that and act upon it (i.e. RENT). But don't go round tellng people as they won't thank you for it when they've mortgaged their futures.

The one thing people never learn is that the powers that run a country like the UK will never let ordinary citizens 'capitalize'

People are sitting on mountains of paper wealth and it's going to be ripped from under their feet by thieves in the night.

The savvy people ducked out of the market 18 months ago

Everyone left is facing fiscal slaughter.

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Guest mattsta1964
That's the key though. Having the self-confidence to look at a house, mentally calculate its worth, and laugh at the estate agent valuation.

Ignore the herd, this site is the meeting ground for refuseniks who know the price and the VALUE of everything.

Houses are ludicrously over-valued. Know that and act upon it (i.e. RENT). But don't go round tellng people as they won't thank you for it when they've mortgaged their futures.

What you have said here is very interesting because you have kind of summed up the problem in a single sentance

PRICE versus VALUE

VALUE is the real tangible 'worth' of an asset

PRICE is an artificial construct under the fiat currency system because it is dictated purely by how benign the financial the financial circumstances are at the time of purchase....ie, how much credit is being created.

People are terrifyingly naive aren't they?

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What you have said here is very interesting because you have kind of summed up the problem in a single sentance

PRICE versus VALUE

VALUE is the real tangible 'worth' of an asset

PRICE is an artificial construct under the fiat currency system because it is dictated purely by how benign the financial the financial circumstances are at the time of purchase....ie, how much credit is being created.

People are terrifyingly naive aren't they?

Basic economics gives value = NPV of future cashflows.

Speculation drives that out of the window.

I've been in oil for a while and think it is currently overvalued through speculation, but estimate the true value as above where I bought in.

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Okay this is likely to be side lined into the Anecdotal thread, but seriously, having been back to a typical 'market town' in Yorkshire, my god. It was like Night of the Living Dead. Imagine the Middle Ages, transporting peasants back to today, then you can picture the people I encountered on a night out.

£150k - £200k for an average home my backside, slash em to £30k and I'd be interested in buying. Elsewise I am going to keep renting in an urban sprawl chicken coup, great! My frustration with this country is reaching a fookin climax!

Rant over

NMB -- You are so right --- this country is seriously F****D :lol::lol:

-----------------------

Mattsta: You say:-

"The one thing people never learn is that the powers that run a country like the UK will never let ordinary citizens 'capitalize'

People are sitting on mountains of paper wealth and it's going to be ripped from under their feet by thieves in the night.

The savvy people ducked out of the market 18 months ago

Everyone left is facing fiscal slaughter."

As I have said a number of times -- I know a guy who works for a very, very major guy in the property world -- they sold out EVERYTHING 12-18 months ago -- they were ABSOLUTELY SURE that the whole thing is going to blow up - and said to me -- "It will be the worst blood-bath you've ever seen". I believe they were - and are -- right.

Edited by eric pebble
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Okay this is likely to be side lined into the Anecdotal thread, but seriously, having been back to a typical 'market town' in Yorkshire, my god. It was like Night of the Living Dead. Imagine the Middle Ages, transporting peasants back to today, then you can picture the people I encountered on a night out.

£150k - £200k for an average home my backside, slash em to £30k and I'd be interested in buying. Elsewise I am going to keep renting in an urban sprawl chicken coup, great! My frustration with this country is reaching a fookin climax!

Rant over

In a rare moment of lucidity and generosity of spirit, brought on by four bottles of London Pride, I predict it'll all come out in the wash.

The British are a resilient bunch, and are willing to take a lot. But when change is necessary, it generally comes.

Once the majority have decided they want substance over style, content over form, there will be change, for the good.

Edited by Dubai
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Guest Bart of Darkness
Imagine the Middle Ages, transporting peasants back to today, then you can picture the people I encountered on a night out.

Kind of like "Deliverance" with Yorkshire accents?

"Night has fallen. And there's nothin' we can do about it. ".

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i went to the lake district today, and i was more or less priced out the whole 60 miles home until i turned off the M6.

makes you feel like a millworker hooked on flannigans methelated tonic.

As a matter of interest the Lake District, along with the surrounding Cumbria region, is an area I have been tracking using Rightmove (and more recently with PropertyBee) for the past two years. Over that time there has been a substantial increase in the number of properties for sale, but I have seen very few sold and hardly any significant price falls to date on the larger houses £500k+. This is in contrast to the West Midlands where I have been watching prices loosen for a few months now. It gives the impression of everything being priced beyond what is realistic in some areas in the light of the changed conditions. Once more people realise what we are headed for is a return to normal conditions and not a temporary lull we will see some steady falls as people try and get out before the bottom of the market is reached..

The present situation feels slightly eerie - like watching pressure building up behind a dam wall and knowing it is about to break.

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It was like Night of the Living Dead. Imagine the Middle Ages, transporting peasants back to today, then you can picture the people I encountered on a night out.

£150k - £200k for an average home my backside, slash em to £30k and I'd be interested in buying.

There's some daft female on here.

Been squealing '70-80% down'

& 'wasteland'

since she arrived late last year.

Property values will become a secondary subject ten years from now.

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This might sound like an excessive rant but after talking to a close friend of mine, she confided how he and otherr friends are living. Earning £500 before tax, they all had £220k mortgages, Audi cars on 08 plates and about £80 spare per month. All with teeth missing. What is it all about?

Indeed what is it all about? What are these people thinking of? Do they think it's all going to come right in the end, win the lottery, find a long lost uncle who's a millionaire?

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