Reply to: Heart breaking story in the Daily Wail

[wim121]

Hang on - Although I didn't state it explicitly, I'm not _blaming_ young people for their property predicament, just the opposite - I think they've been stitched up one way or another by older generations, mostly politicians and their "useful idiots" over the last 30 years or more.

Ahhh ok misunderstood because Ive found too many people assume maturity based on age as a factor.

House prices are out of control, but there are plenty of bargains if one has time to look hard. I feel the only real way people have to get on the property ladder is to buy, gut and redo a home.

[psychocandy]

£400K house and school fees to pay. hmmm. Not exactly feeling much sympathy for them.

Complete bell-ends if you ask me...

[OwlHoot]

+ 2

I feel your comments are age-ist. If only that was a crime in society, as many people treat younger generations like garbage. Positive discrimination yet again huh! The facts are though, as I have observed, is the young arent "irresponsible" with cash and older people more sensible. ...

Hang on - Although I didn't state it explicitly, I'm not _blaming_ young people for their property predicament, just the opposite - I think they've been stitched up one way or another by older generations, mostly politicians and their "useful idiots" over the last 30 years or more.

[Mich the Tester]

Number 2 son is an IT manager in the city and his missus is an accountant in the city specialising in company law with a well known firm. Very few earn what they do at 30 and they still had to borrow 25k off us for deposit to buy a maisonette.

Which would suggest that prices have some way to fall yet. If people in their income position (I'm assuming their combined income is around or even well above the 100k mark) can't buy a simple house then houses are overpriced.

[hyperD]

Are you talking about YouPorn or CUK there?

Neither, my dendrobranchiata friend, those that you mention are the fruits of enjoyment and life!

[DimPrawn]

One finds one's life more relaxed, enjoyable und klar when one unplugs from this hideous, deceptive, all-controlling Matrix of filth.

Are you talking about YouPorn or CUK there?

[Bagpuss]

I've no sympathy for fools who lived beyond their means and are now struggling. By playing their part in the whole credit/debt/house-price/banking bubble they have helped to make innocent people suffer, for example: pensioners who are seeing their income slashed by falling annuity rates, rampant inflation and pathetic returns on savings. How do reckless people sleep a night, knowing they contributed towards making the innocent suffer. Answer = they don't give a damn because they are too stupid to recognise the consequences of their actions.

Ok you are right cash isn't king..yet. You make a very good point above about pensioners and those on fixed incomes are paying for this. I can tell you how the feckless sleep, just watch question time, they blame the Bankers, and yes they were partially to blame, but you can't have a market without participants. It seems people will not take ANY responsibility for their own actions in modern Britain, and that takes us nicely back to the Woman in the Mail article.

[Jeff Maginty]

..

[doodab]

One finds one's life more relaxed, enjoyable und klar when one unplugs from this hideous, deceptive, all-controlling Matrix of filth.

WHDS

[vetran]

Don't think it was meant as ageist, first house we bought together 15 years ago was 3 times my salary which was below higher rate tax. Same house is 6 times my salary which is higher than high rate tax.

Houses are just more expensive now.

[xoggoth]

and I bet most of those who are under 35 own tiny shoeboxes barely adequate to live in let alone raise a family

Number 2 son is an IT manager in the city and his missus is an accountant in the city specialising in company law with a well known firm. Very few earn what they do at 30 and they still had to borrow 25k off us for deposit to buy a maisonette.

[Bagpuss]

She convinced herself of the same as many others did, including many on this site, the old "this time it's different" "house prices can only go up" "it's supply and demand". Proven time and time again, bubbles always burst, and I'm not even convinced it has properly crashed yet.

Those of us who buy what we can afford, have had to pay over the odds for goods and services for the best part of a decade, due to the cash poor gobbling up all the resources and falsely inflating prices with their cheap credit. Well now it's over, boo hoo, and cash is king once more. Please move out of the way love, I want to buy that, and you can't afford it.

[wim121]

Remortgaged to pay school fees??

Borrowed half a million when hubby looks about 50.
Interest only in 2002?

a fool & their money /house?

For once I agree with you. What a bunch of stupid muppets. Deserve everything that happened to them.

+ 2

I switched off, when they started blaming Thatcher! She actually helped kick start the private sector and gave council tenants the right to buy. Kind of ironic really for them just to be throwing around a Thatcher insult because they're mentally retarded.

and I bet most of those who are under 35 own tiny shoeboxes barely adequate to live in let alone raise a family.

I feel that is an unfair statement.

Friends we have, all have a three bedroom house or bigger, some rent, some own outright. However many fail to have our grasp on finances.

We purchased this house, a semi 3 bed in one of the best areas in my location over six years back when I was 22. Back then our repayments were capital+interest for £550 approx per month and we have made every payment without re-mortgaging, so despite the crash, we're still in positive equity and our repayments are just over £300 p/m now, which is far cheaper even after factoring in life insurance than renting.

Even living down south, I would never rent for £2k a month if I had money issues! What fools in the article!

Our house would be perfectly big enough for a family, with a front driveway/garden and rear garden. However we would prefer to spruce the place up first before letting kids run around it.

I feel your comments are age-ist. If only that was a crime in society, as many people treat younger generations like garbage. Positive discrimination yet again huh! The facts are though, as I have observed, is the young arent "irresponsible" with cash and older people more sensible.

I know plenty of financially foolish people twice my age, including my own mother. I have found the most foolish sometimes wont ever "wake up". We have one couple of friends, with a baby, etc, who couldnt afford to rent a flat any longer and now rent off family which they still cant afford and are swimming in loans, debts, etc. Yet they are the "I want" persona. They see something and buy it, when others like myself, would say "I cant afford that/have better things to spend my money on, so I'll make do with what Ive got". We have quite often thought, they may wake up, when they go through bankruptcy, but with others to bail them out, we dont think they ever will.

Unless I missed something, I don't see why the house price crash forced their sale. So long as they could afford the payments, who cares what the house was worth. Buying at the top of the market and selling at the bottom is pretty stupid by any standard.

Sounds like they kept on re-mortgaging so their repayments went too high and when they had money problems in the crash with lost jobs, they were in negative equity because of all the re-mortgages, hence the bank repossessed.

When will people learn their is no shame in adequacy and not being a millionaire and instead, live within their means?

[hyperD]

Interesting comment from one person who notes that Shona Sibary is a journo who in all liklihood made some or all of this up.

A quick Google reveals that Shona writes all sorts of controversial (not) stuff, mostly about herself, mostly for the Wail

Which is why when you define your belief system upon the tulipe that splatters the recycled paper print from the intellectual giant that is The Metro, to the tittle-tattle dross that is The Telegraph, to the daily tabloid excrement that is the Grauniad, you ponder why you are being pushed and pulled from incredulity to rage to condescension?

Seriously, stop buying this crap.

It has more value as a fire starter. Collect the free stuff for that very purpose.

One finds one's life more relaxed, enjoyable und klar when one unplugs from this hideous, deceptive, all-controlling Matrix of filth.

[petergriffin]

Stuck in the rent trap: How one middle-class family kept remortgaging their home to pay the bills, until they could no longer afford the repayments | Mail Online

Sounds like the story of HM Treasury