Reply to: DailyMail Doom

[d000hg]

Doomed I tell yer!


(Or boomed if you have an eye to pickup cheap property down the line).

Both in my case. We rent now and are hoping to buy in the future, but we own a cheap house (bought at £65k) we let out to chavs. So on balance it is boom since the house we end up buying might drop in value more than the one we own is worth.

[TimberWolf]

Nothing a spot of mass immigration won't solve.

[lilelvis2000]

What's interesting is that most of the other major economies are pulling themselves out - except the UK. So we have relatively high inflation, high unemployment, massive debt, no recovery in manufacturing or services.

We're starting to look like Japan. And that is seriously bad news.

[lilelvis2000]

A good thing Shirley?

Unless you want to use your untapped 'wealth' as collateral to fund a lifestyle you can't really afford.

Doesn't stop the wife in good times or bad.

[russell]

An article in today's Wail relates how a butcher up north advertising a minimum wage job for an apprentice was snowed under with hundreds of applicants, many from graduates in Law (Social and Legal Studies) and IT (Information Technology and Media Studies), and some offering to work free for a month!

Either the graduates have genuinely seen no hint of job prospects in their field and given up hope of that, or they half hope to get useful background knowledge to be a chef (not so unrealistic - most head chefs, celebrity or not, are pretty well paid), or they want to beef up their animal butchery skills in anticipation of life post WW3.

FTFY

[Fred Bloggs]

Any reason you don't buy it for them you tight git?

If I was as rich as Dim, I would buy them at least 5 houses each.

[OwlHoot]

I was at a BBQ the other week with a chap who was trying to run a NEETs scheme up there.

Talk about flogging a dead horse. Although he did say Brum was far worse .

An article in today's Wail relates how a butcher up north advertising a minimum wage job for an apprentice was snowed under with hundreds of applicants, many from graduates in Law and IT, and some offering to work free for a month!

Either the graduates have genuinely seen no hint of job prospects in their field and given up hope of that, or they half hope to get useful background knowledge to be a chef (not so unrealistic - most head chefs, celebrity or not, are pretty well paid), or they want to beef up their animal butchery skills in anticipation of life post WW3.

[hyperD]

I expect the prices for secret underground bunkers will buck the downward trend.

Quick, don't tell DimPrawn - let's all invest in bunkers!

[doodab]

Looking for a house would be of least concern for kids in future years: tinned food, a motorcycle and a black market Avtomat Kalashnikova 47 would be life's priorities.

I expect the prices for secret underground bunkers will buck the downward trend.

[hyperD]

Overall, this will be a good thing, my kids might be able to buy somewhere to live then.

Looking for a house would be of least concern for kids in future years: tinned food, a motorcycle and a black market Avtomat Kalashnikova 47 would be life's priorities.

[DimPrawn]

I regard this as an economic certainty, it was only a matter of time before house values dropped back to their long term average versus wages. I think it will take an adjustment of around 50% before that is acheved in many parts of the UK. With taxation rising, wages static/falling, the economy truly toasted and general inflation at about 5% the stage is now set for this to happen over the next 5 to 10 years. Overall, this will be a good thing, my kids might be able to buy somewhere to live then.

Any reason you don't buy it for them you tight git?

[Fred Bloggs]

I regard this as an economic certainty, it was only a matter of time before house values dropped back to their long term average versus wages. I think it will take an adjustment of around 50% before that is acheved in many parts of the UK. With taxation rising, wages static/falling, the economy truly toasted and general inflation at about 5% the stage is now set for this to happen over the next 5 to 10 years. Overall, this will be a good thing, my kids might be able to buy somewhere to live then.

[Pondlife]

A tidy price drop boyo.



Then again, it is mostly above the snow line & is as rough as you like in places.

Even the sheep carry knives.

I was at a BBQ the other week with a chap who was trying to run a NEETs scheme up there.

Talk about flogging a dead horse. Although he did say Brum was far worse .

[PAH]

99% of the UK populace don't know what's good for them.

They were caught up in the myth that having average house prices closer to 200k than 100k is good for them and their children, despite average earnings remaining in the low 20k region.

Sure, they can release equity to fund their 'celebrity lifestyle', but wait till their kids want their own place. Oooops.

[TimberWolf]

Surely with wages dropping in real terms, lending being tightened, public sector workers being fired, inflation eroding savings, unemployment, minimum and part-time jobs booming and careers a thing of the past, £160K mortgages would be easy to support and house prices look really sensible? If not, just lower interest rates some more