What Do You Think The "average" Person In The Street Is Thinking

[winkie]

The 'average' person in the street is thinking?

Not what their home is worth, but can they continue to pay for it.

[john_coller]

I have stayed out of conversations about property prices for about a year, but from the ones that i've overhead,

Majority of people at my work place think that house prices have fallen, but will rise as soon as the 'credit crunch' has passed, back to, 'what they are really worth'.

[smiffy1967]

One of my housemates wants to spend some inheritance money on buy-to-let (when she gets it, can't seem to wait).

I gave her a disgusted look and then cracked up laughing. She seemed confused at this reaction.

The level of sheer stupidity I've come across in otherwise rational people when it comes to the subject of "pwopertee" is obscene.

Most of the people at work are simply deluding themselves, most are two young to remember the last two crashes, one bint i work with is selling and buying and closing in the next two weeks, they dont think house prices will drop that much and that they will soon go back up again.

People i work with really dont have an interest in economics, our energy situation as a nation, the cost of food and energy.

they are more interested in x-factor, big brother, harry and Paul and reading the sun.

[chichi]

I spose you pay your mortgage once a month and food bills every week.

[frozen_out]

Not what their home is worth, but can they continue to pay for it. wink.gif

This is what I'm seeing. A lot of worried people. Some with good cause.

[reddii]

Had a trim today and the hairdresser was going on about her electricity bill, how it had risen from £66 pm to £105 pm and how her and boyfriend [Fireman] are having to cut back.

She then told me they paid 129K for their persimmon starter property 18 months ago, have 122K on mortgage and want to move to something slightly bigger. Estate Agent has valued it at 95K as persimmons are now marketing the identical remaining properties at 99K.

It's people like this I feel sorry for, all they wanted was to buy a home to share, didn't overextend themselves and are now facing a loss of 40K or so......it'll take a hell of a long time for this couple to recover.

[dissident junk]

IME, people are screwing about food prices. That Tesco ad about a tin of tomatoes at nearly a quid shocked my husband the other night.

Petrol prices as well are a big issue.

As regards housing, prices are just crashing here in my region of West Yorkshire. We are seeing crazy price drops and panic setting in -- £40K to £100K drops for some distressed sellers.

This is going to be nasty.

[Yoss]

Most people I talk fall into 3 camps

1) Bring on the crash, Coz they can't work out how next door can afford SLK/Ranger Rovers while on benefit (15%)

2) At least acknowledge there will be a correction but not on thier own home and are looking to move up to a bargin. "It can't get that bad or the government will do something about it" (65%)

3) Pale worried and rarely seen out anymore. Those that massively over extended, are on Fixed rate I/O's or Mew'd loads or moved into BTL (20%)

3s are in shock, and GOOD they were mostly smug gits tha banged on about how much thier property was worth!

2s are starting to get twitchy, BUT think the government will come to the aide of the people.

What worries me is that the 2s are probably correct and the government will come to our aide with yet another costly/ineffective balls up.

[GAL BEAR]

The average person will be shown all of the respect that their foresight record affords.

However, the most significant single price-problem facing people at the moment is the price of beer. This is clearly too high.

A few months back I was constantly argueing with friends/relatives/co-workers that the ecnomoy was sunk and house prices would crash. Everyone disagreed with me and thought I was a fool.

Now I hear the same people saying how bad things are !!!

At last !

So nice to be proved right.

[Woodworm]

IME, people are screwing about food prices.

It's easier to talk about food prices because talking about your mortgage is very sensitive information. You wouldn't want everyone to know you're going broke, would you?

Everyone talks about food prices because it doesn't really make that much difference and everyone likes a good whinge. It's sort of like the weather.

Edited September 11, 2008 by Woodworm

[Quagmire]

Most people just regurgitate what Al'Beeba/Daily Mail/The Sun is telling them in my experience. They know more about Cora and Jade Goody than they do about the dire state of our economy.

One thing that is universal though is the hatred of Gordon Brown. He is falling house prices, rising gas/food/petrol/fags/booze prices personified. What worries me is that he might "soak up" all this pent up rage and when he quits take it all with him. This might leave our next incompetent leader with a clean slate.

[dandare500]

Most people aren't thinking. They weren't thinking on the way up and they won't be thinking on the way down. Stuff will happen to these people and they will act all surprised.

Totally correct, and if you state the obvious, they won't like it. They will hate you instantly. It is best to let them sink rather than warn them. It is too late.

[winkie]

I would say a typical checkout assistant in any local suppermarket could tell you a thing or to about what people are spending, what they are buying and how closely they examine their receipt in disbelief after they have paid for it.

In the 70's if you didn't have the cash to pay for it you left it behind

[Guest Steve Cook]

Most people aren't thinking. They weren't thinking on the way up and they won't be thinking on the way down. Stuff will happen to these people and they will act all surprised.

This is true. Though, one shouldn't be too hard on them for that. Most people have limited intellect and even more limited time.

The real criminals are the ones pulling the strings at the top of the food chain

[Thread Killer]

they are more interested in x-factor, big brother, harry and Paul and reading the sun.

Who are harry and Paul?

Haven't heard of them...

[Are we there yet?!!]

I would say a typical checkout assistant in any local suppermarket could tell you a thing or to about what people are spending, what they are buying and how closely they examine their receipt in disbelief after they have paid for it.

In the 70's if you didn't have the cash to pay for it you left it behind

I would say this is definately true, I work on the tills at a big supermarket and the amount of people who are in disbelief at how much their shopping has come to. you also get to see couples give each other dirty looks as if it is some how their fault that they have spent so much.

Also I have seen an increase in the amount of people buying food from the value ranges, some people are filling their trolley's with nothing but the value ranges.

Many of the customers are not only complaing about the cost of food and petrol, but also how much the general cost of living has increased by.

There are a lot of unhappy people out there!!

[oracle]

I would say a typical checkout assistant in any local suppermarket could tell you a thing or to about what people are spending, what they are buying and how closely they examine their receipt in disbelief after they have paid for it.

In the 70's if you didn't have the cash to pay for it you left it behind

Yeah,I'd go along with that.

Typical checkout girl will know the exact contents of everyones shopping basket(and not hesitate to tell the next customer in the queue what you bought...even though it's a complete stranger)

...and what rex did to steph in the shower of the big brother house on monday.

and who is is going to get the black-belt of karaoke-idol

and the gory details of her next-door neighbours illicit affair

the cliffhanger story in emmerdale

How to immitate posh's new hairdo

....but she seems to go a bit blank when you talk geopolitics,psycological control mechanisms or anything to do with aldous huxley/george orwell.

....strange girl!

Do you think I need to polish up my chat-up lines!!

Edited September 11, 2008 by oracle

[Yoss]

It's easier to talk about food prices because talking about your mortgage is very sensitive information. You wouldn't want everyone to know you're going broke, would you?

Everyone talks about food prices because it doesn't really make that much difference and everyone likes a good whinge. It's sort of like the weather.

Aint that the truth! All through the boom there was not one flash car/conservatory/Hugely expensive holiday bought with money MEW'D out of property or 0% interest credit cards.

I know people that have run up 30K credit card debts and thier partners didn't have a clue! Because 30k of debt cost nothing while it is 0%

And if rates rise, you can always mew some money outta the house...Oh hang on I don't get 4% fixed for 3 years..The property isn't worth as much as I thought ...and I don't get those rate unless I own 15% of the property and even if i did qualify you want to charge me HOW MUCH!

Not such a difference between USA NINJA loans and HOME OWNERS that have no equity left at all in a falling market. (property 1/2 the size, debts twice the size) Like that was ever going to work.

[Elizabeth]

Kids, school, must pick, where was the phone? call no, yes oh shit kids, yes 3.30 what's the time, 3.45? Oh shit. Shopping list, car keys, where the frick are my keys? BRING BrINg, where the phone? Yes Annie just coming now darling... where where my car key?

Every body I know is too busy worrying about immediate pressures to be worried about longer term concerns....

[Guest Steve Cook]

Kids, school, must pick, where was the phone? call no, yes oh shit kids, yes 3.30 what's the time, 3.45? Oh shit. Shopping list, car keys, where the frick are my keys? BRING BrINg, where the phone? Yes Annie just coming now darling... where where my car key?

Every body I know is too busy worrying about immediate pressures to be worried about longer term concerns....

yes

[Yoss]

Kids, school, must pick, where was the phone? call no, yes oh shit kids, yes 3.30 what's the time, 3.45? Oh shit. Shopping list, car keys, where the frick are my keys? BRING BrINg, where the phone? Yes Annie just coming now darling... where where my car key?

Every body I know is too busy worrying about immediate pressures to be worried about longer term concerns....

Says alot about stay at home mums/dads. I guess if house prices weren't so high and only one parent needed to work to put a roof over thier familys head, feed them, heat them and educate them., We could live with one rusty only banger and a camping weekend in wales.

It may not be "Bling" but it would proably be less stressful and we'd live longer and have richer life experience. Enjoy the kids etc.

Hey if we are headed for a 70's depression it might actually make people think about quality of life again, and not so bad at all in the long run, can't wait for the 'Celebrity Goodlife' ... hang on it's already started!

[Guest pioneer31]

Most people aren't thinking. They weren't thinking on the way up and they won't be thinking on the way down. Stuff will happen to these people and they will act all surprised.

Correct.

They just parrot what the papers say, as if it's their own informed opinion.

[Elizabeth]

Says alot about stay at home mums/dads. I guess if house prices weren't so high and only one parent needed to work to put a roof over thier familys head, feed them, heat them and educate them., We could live with one rusty only banger and a camping weekend in wales.

It may not be "Bling" but it would proably be less stressful and we'd live longer and have richer life experience. Enjoy the kids etc.

Hey if we are headed for a 70's depression it might actually make people think about quality of life again, and not so bad at all in the long run, can't wait for the 'Celebrity Goodlife' ... hang on it's already started!

I have to say, I didn't have enough headspace left to analyse it myself (don't have kids just work long hours), but you have done so brilliantly.

[quinnbear]

I've started to realise recently that I cannot have a conversation with 'normal' people about housing. They tend to say things like "I don't think it will crash, they won't let it". I ask who "they" are, and am told its the government,banks etc.

Since finding this forum I have had a shockingly wide education on economics, banking and money. I don't take everything I read at face value, but I do follow links and read up. Most 'normal' people seem to take their financial news in 2 minute chunks from the Sun or BBC 'news'. When I occasionally argue about the economy (compared to the last crash) I will quote stats on personal debt, interest rates, unemployment levels, long term price to earning ratios. All to no avail. A colleague at work concludes our discussions by saying "well I don't think it will crash 30%". I ask "Why?", and the response I get is "because I just don't think it will"...

I tend to spend at least 20-30 minutes per day looking at the markets and searching for financial news. It is sad that I have had to become a minor economics bore just in order to buy a house at a sensible price, but then again it won't be me getting repossessed in the next 18 months because I overstretched to get on the 'ladder'.

Again, I really don't think members of this forum can understand what the average man/woman in the street is thinking since our experience is so different to theirs.

Q

[oracle]

I've started to realise recently that I cannot have a conversation with 'normal' people about housing. They tend to say things like "I don't think it will crash, they won't let it". I ask who "they" are, and am told its the government,banks etc.

Since finding this forum I have had a shockingly wide education on economics, banking and money. I don't take everything I read at face value, but I do follow links and read up. Most 'normal' people seem to take their financial news in 2 minute chunks from the Sun or BBC 'news'. When I occasionally argue about the economy (compared to the last crash) I will quote stats on personal debt, interest rates, unemployment levels, long term price to earning ratios. All to no avail. A colleague at work concludes our discussions by saying "well I don't think it will crash 30%". I ask "Why?", and the response I get is "because I just don't think it will"...

I tend to spend at least 20-30 minutes per day looking at the markets and searching for financial news. It is sad that I have had to become a minor economics bore just in order to buy a house at a sensible price, but then again it won't be me getting repossessed in the next 18 months because I overstretched to get on the 'ladder'.

Again, I really don't think members of this forum can understand what the average man/woman in the street is thinking since our experience is so different to theirs.

Q

welcome to the madhouse!!

you now have a choice.The RED pill or the BLUE pill

There is no going back,we show you how deep the rabbit hole goes.

Remember,all we are offering you is the truth.,it's up to you if you wish to accept it.

Edited September 11, 2008 by oracle