equinox_code wrote: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.
Armitage_Shankburn wrote: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.
Diluted Dante wrote:No, she achieved running down the clock.
Armitage_Shankburn wrote: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
Nick Ferrari to Boris Johnson: "I would suggest he [the Chief Executive of Land Rover] knows more about car manufacturing than you do"
Boris Johnson: "Interesting point. I'm not certain he does."
Yossarian wrote:The state of this:
Nick Ferrari to Boris Johnson: "I would suggest he [the Chief Executive of Land Rover] knows more about car manufacturing than you do"
Boris Johnson: "Interesting point. I'm not certain he does."
https://twitter.com/ShehabKhan/status/1084730347051470849
Kate Hoey, the Labour Brexiter, asks May to state categorically that the UK will be leaving on 29 March. May says the UK will be leaving then.
Charlie Elphicke, the Conservative, asks May to confirm that leaving the EU with no deal would not be the end of the world.
RedDave2 wrote:Yossarian wrote:The state of this:
Nick Ferrari to Boris Johnson: "I would suggest he [the Chief Executive of Land Rover] knows more about car manufacturing than you do"
Boris Johnson: "Interesting point. I'm not certain he does."
https://twitter.com/ShehabKhan/status/1084730347051470849
I hope the interviewer gave him plenty of shit on this and didn't let him away with it.
Bill Wiggin, a Conservative, asks May if she can assure him that she will continue to carry on with “British grit” if she loses the vote tomorrow.
Brexiteer Conservative MP Desmond Swayne calls on Theresa May to suspend parliament until April in order to "guarantee Brexit."
Roujin wrote:BULLDOG SPIRIT LIV. SPIRIT OF 66. 2 WORLD WARS AND 1 WORLD CUP.
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