Originally posted by centurian
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Reply to: UK v eurozone debt
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Previously on "UK v eurozone debt"
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Originally posted by BlasterBates View Post
If you are going to cherry-pick short-term data, why didn't you pick this? Surprise rise in retail sales
I don't set too much store by either of them.
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Originally posted by centurian View PostExcept that isn't Plan A - we are not paying it down at all. We are merely slowing the rate at which the debt will increase - to the point that 4-5 years from now, it will cease to get any worse - and that's if Plan A works.
We have no plan for actually paying the debt down.
That - is why we're all tulipped
It's the direction we're going in that matters. The markets tell you that. And the UK's ability to put such a policy into practice really pisses off Sarkhozy, Merkel and the rest stuck in the eurozone.Last edited by Doggy Styles; 16 November 2011, 20:35.
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Originally posted by Doggy Styles View PostAs a householder, a 250K mortgage is OK while you are paying it down. Hence UK's Plan A to get to that position.
We have no plan for actually paying the debt down.
That - is why we're all tulipped
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Originally posted by PAH View PostI think it's land prices that have shot up due to people willing to pay £100k for a small piece of land with planning permission that would otherwise be worth under 5k.
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Originally posted by scooterscot View PostThe materials to build said house I'll bet never cost anywhere near £200k, unless you believe these stupid pre-2008 DIY house programmes.
I think it's land prices that have shot up due to people willing to pay £100k for a small piece of land with planning permission that would otherwise be worth under 5k.
Labour and materials probably haven't risen that dramatically, now the construction industry is in limbo they may even be falling.
Maybe the proposed changes to the planning system will make it easier and therefore cheaper to find plots of land with permission to build on. If it becomes cheaper to build than buy then ready built prices may come down accordingly.
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Originally posted by scooterscot View PostCost and price are not the same thing. The cost of materials to build said house are nearly always multiple reductions of the asking price.
Borrowing anything north of £100K to make said price IMO is
If a house costs £300K and you're gross income is ~£80k move on you cannot afford it, how people were tricked into believing they could has been one of the greatest swindles of the 20th century.
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Originally posted by Arturo Bassick View PostWeren't you pointing out the price of houses in Munich recently?
Borrowing anything north of £100K to make said price IMO is
If a house costs £300K and you're gross income is ~£80k move on you cannot afford it, how people were tricked into believing they could has been one of the greatest swindles of the 20th century.
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Originally posted by scooterscot View PostWHS with bells on.
The materials to build said house I'll bet never cost anywhere near £200k, unless you believe these stupid pre-2008 DIY house programmes.
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Originally posted by PAH View PostDon't think it's particularly large if IIRC the current/recent average house price is around £200k (when including London ), yet the average wage is still barely above £20k.
I find it hard to comprehend how the gen pop are ok with houses costing so much, having doubled or trippled in the last 10 years, yet their wages are still much the same. They're effectively paying more for the same yet feel better off because they have all this equity on paper if they were to sell up, ignoring the cost of buying the next place.
The materials to build said house I'll bet never cost anywhere near £200k, unless you believe these stupid pre-2008 DIY house programmes.
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Originally posted by Doggy Styles View PostI chose a large debt to make the point
I find it hard to comprehend how the gen pop are ok with houses costing so much, having doubled or trippled in the last 10 years, yet their wages are still much the same. They're effectively paying more for the same yet feel better off because they have all this equity on paper if they were to sell up, ignoring the cost of buying the next place.
Still, while I have friends who spend every penny each month and have all the latest gadgets, tat and new cars I'd prefer to keep a large warchest and no debt while driving a banger.
It also helps keep the gold diggers away, I look like I'm skint.Last edited by PAH; 16 November 2011, 12:15.
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"Annual income twenty pounds, annual expenditure nineteen nineteen and six, result happiness. Annual income twenty pounds, annual expenditure twenty pounds ought and six, result misery."
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Originally posted by scooterscot View Post
Feck me no wonder we're down the tubes with the perception that this is an acceptable debt.
I chose a large debt to make the point.
HTH
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