Have you got a pension?

[nomadd]

I must be one lucky 28-yr-old immigrant chick.

I will make an allowance for prostitution.

[formant]

I will make an allowance for prostitution.

Btw, I generally agree with you, but the problem with talking about 'immigrants' as a whole in this, is that in poverty terms you've got some massive differences between individual immigrant communities.

I'm German (been here for ages though). I don't know a single 'poor' German in this country. 'We' wouldn't be here if it wasn't worth it - the German welfare system pays better than the British one.

[minestrone]

Quick Saturday check of morningstar and I see that my money made me more money last week than my paid labour.

Kerching!

[minestrone]

YTDs on some of the the funds I am holding...

Aberdeen Emerging Markets A Acc 16.18
BlackRock UK Special Situations A Acc 15.45
First State Asia Pacific Leaders Fund 18.68
Schroder UK Alpha Plus Acc 21.37

although there is a -14.63 in there by clientCo.

[IR35 Avoider]

UK property prices will never collapse in Sterling terms, govt money printing, immigration and draconian planning laws will see to that. Plus most MPs own huge amounts of property. Vested interests.

I bought a flat in 1989, one year later it was worth 25% less than the mortgage. in 1998 I sold it for what I paid, so after inflation at a significant loss. This was centralish London.

I calculate my current flat is fairly valued at £600,000 if interest rates are 3%. However if one looks at commercial property one sees that a long term fixed rate if available would cost probably double that, therefore the market value of my flat is roughly double what it should be. (Fair value is the price at which renting and buying are equally attractive.)

[minestrone]

Youngsters coming out of uni with good degrees are not capable of getting funding to buy the houses they would previously be expected to purchase.

Mum was a teacher, old boy was in the army, their salary in the 50s was 800 quid a year, that was what their first house cost, now a teacher will not be given a mortgage over 150 grand which rules them out of even the most basic flats round these areas.

There will be a correction on valuations for the housing market because people can just not afford to buy in anymore.

[escapeUK]

There will be a correction on valuations for the housing market because people can just not afford to buy in anymore.

Or maybe they will rent? Which is exactly what they have been doing the last 10 years.

[nomadd]

Or maybe they will rent? Which is exactly what they have been doing the last 10 years.

I think you'll find that many of them have returned home to live with their parents. Even rents have climbed above what they can afford. UK housing has been a 10 year ponzi lending failure, currently being bailed out at the tax-payers expense. In a sense, we are all losers. And for the young people of this country, I shudder to think what lies ahead for them..

[escapeUK]

I think you'll find that many of them have returned home to live with their parents. Even rents have climbed above what they can afford. UK housing has been a 10 year ponzi lending failure, currently being bailed out at the tax-payers expense. In a sense, we are all losers. And for the young people of this country, I shudder to think what lies ahead for them..

I dont disagree with you, but thinking something should happen is not the same as it actually happening, those who own the property would rather not sell at all than let it go for less than its "worth". So it is stalemate at the moment, with the young unable to buy and the old not wanting to sell for less. Most people with property dont have to sell, there are some who must and these are the ones we see at 20% off peak.

I think those programs like "A place in the sun home and away" illustrate the English's mentality, where a couple has £250k to spend. They can either have some tiny poxy terrace in blighty for £275k, or a villa in 10 acres in Spain with £100k change. How shocked they always look.

[minestrone]

I dont disagree with you, but thinking something should happen is not the same as it actually happening, those who own the property would rather not sell at all than let it go for less than its "worth". So it is stalemate at the moment, with the young unable to buy and the old not wanting to sell for less. Most people with property dont have to sell, there are some who must and these are the ones we see at 20% off peak.

I think those programs like "A place in the sun home and away" illustrate the English's mentality, where a couple has £250k to spend. They can either have some tiny poxy terrace in blighty for £275k, or a villa in 10 acres in Spain with £100k change. How shocked they always look.

Think of it this way, population getting older sitting on 600k semi detached 3 bed properites, average wage in the UK is 26k and banks getting sniffy about anything more than 5 times with a deposit.

You dont have to be clever to see the numbers do not stack up.