100% yes I will would. I hope I would even if it looks like it will lose by loads eg Fitzpatrick says he is mulling it over, I hope he doesn't get cold feet

Diluted Dante wrote:

Because you said I've read it wrong without saying why, and you're the lawyer so should be able to understand legal text better than me?

My reading is that the EU, and not any individual EU state can create legislation in regards to the Customs Union.

I don't see what that has to do with Corbyn talking about having British input on trade deals.

What does having "input" mean?

Armitage_Shankburn wrote:

Diluted Dante wrote:

Because you said I've read it wrong without saying why, and you're the lawyer so should be able to lunderstand legal text better than me?

My reading is that the EU, and not any individual EU state can create legislation in regards to the Customs Union.

I don't see what that has to do with Corbyn talking about having British input on trade deals.

What does having "input" mean?

He doesnt clarify. He doesnt suggest we're signing our own deals though.

I just can't take the risk of no deal, those clowns are done anyway. The nation will never forgive the party.

Edit -

Just needs some distance

I personally think the Tories will split. Given the state of the membership, I think a centr party made up of the umunas, Kendall's and lib Dems is more likely than sending reesmogg to the ukips

Tbf it might be good for first time buyers.

Yeah but the current ones should be crying, which sort of balances it out a bit

FWIW, a massive house price crash would probably be the single thing that would improve my life the most, but considering how much damage it would do to the rest of the country, I’m not exactly agitating for it.

Owning your own home is a peculiarly British thing though, isn’t it? Part of the national identity is wanting to own bricks and mortar.

The only way most people will afford mortgage deposits once the banks revert to demanding 20%, 30%, etc is with inheritances (or by selling inherited property, which is practically the same thing). The boomer legacy.

poprock wrote:

The only way most people will afford mortgage deposits once the banks revert to demanding 20%, 30%, etc is with inheritances (or by selling inherited property, which is practically the same thing). The boomer legacy.

I dunno. A lower middle class income can get you there if you save ALOT. My mate was earning about £30K, maybe a little under, and he scraped like a mofo for 3 yrs and managed to to save about 40K (although he doesn't live in that London). Said he really enjoyed it too and still goes on about it now. Started brewing his own beer, not eating shite, walking more, learning how to fix things etc. 

I realise the above is something only a middle class person would post but maybe, just maybe, th....OH MY GOD I'M TURNING INTO MY DAD.

SpaceGazelle wrote:

poprock wrote:

The only way most people will afford mortgage deposits once the banks revert to demanding 20%, 30%, etc is with inheritances (or by selling inherited property, which is practically the same thing). The boomer legacy.

I dunno. A lower middle class income can get you there if you save ALOT. My mate was earning about £30K, maybe a little under, and he scraped like a mofo for 3 yrs and managed to to save about 40K (although he doesn't live in that London). Said he really enjoyed it too and still goes on about it now. Started brewing his own beer, not eating shite, walking more, learning how to fix things etc. 

I realise the above is something only a middle class person would post but maybe, just maybe, th....OH MY GOD I'M TURNING INTO MY DAD.

In that London, I reckon I’ll need a deposit in 6 figures to be able to do the same.

LivDiv wrote:

My concern over a large scale housing crash is the young people who signed up to 95% mortgages.
5% isn't much of a buffer and the first few years you mostly pay interest.
In fact, whack the interest on, plus fees and most of that deposit is eaten up again.

It wouldn't take much for those folk to end up in negative equity. If people then lose their jobs things get really bad really fast.
Could end up with a generation who got fucked trying to get on the ladder then fucked again having the house repossessed AND owing money still.

Likewise those with Help to Buy loans. These could be time bombs that never get paid back, like large student loans.

They will all be in negative equity. When they lose their jobs and are forced to sell, that will precipitate /exacerbate a crash. Banks's security will be substantially less than anticipated. Depending on how confident you are about their capitalisation, they will either become very conservative with lending, or they will fail.

Which is why I posed the question to Yoss. Say that 300k 1 bed in London goes down to 200k - a massive price reduction (particularly given that the pound will have massively devalued on top). You earn 35k and can get, say 4 times that lent. Have you got the remaining 30k to put it up, if you are fortunate in still having a job?

A price crash is a false comfort

I would welcome a massive economic tanking tbh if it didn't result in a bigger inequality gap after the clear up, which it always does. We'll be lucky to escape a 5 degree warm up as it is and the only thing that's going to stop it now is some catastrophic economic meltdown. Not that a meltdown won't happen because of the warming anyway, but it'd be nice to see some bankers getting lynched before that happens.

I will never be able to afford a home and im fucking bitter about it. There isnt a single day that passes without me thinking about it, usually multiple times per day. I will spend the rest of my life in shared accommodation, and likely never be in a position to afford a family. Any system which cant afford those things to people in the lower wage brackets is fundamentally broken. The fact these things are off limits really fucks with my sanity; it cripples my sense of self-worth.

Yossarian wrote:

Armitage_Shankburn wrote:

Yossarian wrote:

Yep, and secure tenancies are not normal in the UK, or at least not in my adult life..

Vote for a party, and support a leadership of that party, that supports rent and tenancy reform and social housing.

I do vote for such a party, despite my misgivings about its leadership.

Clearly the answer is to get a leader who is going to go for "more of the same" or "here is an interest free loan for five years after which you will get clobbered, on top of your student debt which you are still paying off, barely eating into the principal because we charge you 6.5% interest.

I know I seem to be having a go, but we are grown ups here. Policy matters. We should see the woods for the trees. The mcDonbell / Corbo wing of labour is the only one which aims to make policy which will help the vast majority of you.