http://www.investorschronicle.co.uk...d-9f48-0015171400aa/Houses-down-shares-up.jspInvestors Chronicle said:
Am I bovvered?
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House Prices, am I bovvered?
- Thread starter JohnD
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Am I bovvered?
View media item 1740
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i,m certainly not bovvered.
i would not give a hoot if house prices completely collapsed.
the public have, for far too long, believed that they are wealthier than they really are, simply on the back of house prices.
"ooh my house is worth £20,000 more than when i bought it, i think i'll re-mortgage and treat myself to a 4 x 4".
ffs.
i would not give a hoot if house prices completely collapsed.
the public have, for far too long, believed that they are wealthier than they really are, simply on the back of house prices.
"ooh my house is worth £20,000 more than when i bought it, i think i'll re-mortgage and treat myself to a 4 x 4".
ffs.
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We do see houses as ways of making money rather than somewhere to live which is the crux of the problem I reckon.
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aahh but - houses are an investment.
it is just that some morons choose to remove their profit before they really need it.
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2scoops0406
No, I hope they collapse for purely selfish reasons. i.e. I desperately want to move, I can afford another £200K, which is affordable and repayable, medium termish, but to move from where I am to what I want costs at the moment another £400K.
So, yeah, let the collapse begin.
So, yeah, let the collapse begin.
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Yep I agree. There is nothing wrong with (and most of us on here will be trying to), better yourself but we do 'seem' to be living in a 'buy it now, don't care if i can pay' society. And when it all goes t1ts up they complain to Watch Dog or whoever that they were given all this credit when they shouldn't have and now they're in trouble! Yeah just like the bloke in the street who is over weight because the portions from the locally chippy are too big!!!the public have, for far too long, believed that they are wealthier than they really are, simply on the back of house prices.
"ooh my house is worth £20,000 more than when i bought it, i think i'll re-mortgage and treat myself to a 4 x 4".
ffs.
or your 'Traveling' friends Joe.
And of course whatever house you're living in now goes down in line. So if you're relying on the sale of that for funds you'll be disappointed. Then there is the issue of will you actually be able to sell your current home in a falling market? Unlikely. Further, will you get a mortgage of that value with the market in that state? Mortgage lenders are being very cautious even now. But more to the point... What the f*** do you do for a living 2scoops to be able to afford an 'extra' 200 grand? Gizza job.
2
2scoops0406
Yep I agree. There is nothing wrong with (and most of us on here will be trying to), better yourself but we do 'seem' to be living in a 'buy it now, don't care if i can pay' society. And when it all goes t1ts up they complain to Watch Dog or whoever that they were given all this credit when they shouldn't have and now they're in trouble! Yeah just like the bloke in the street who is over weight because the portions from the locally chippy are too big!!!the public have, for far too long, believed that they are wealthier than they really are, simply on the back of house prices.
"ooh my house is worth £20,000 more than when i bought it, i think i'll re-mortgage and treat myself to a 4 x 4".
ffs.
or your 'Traveling' friends Joe.
And of course whatever house you're living in now goes down in line. So if you're relying on the sale of that for funds you'll be disappointed. Then there is the issue of will you actually be able to sell your current home in a falling market? Unlikely. Further, will you get a mortgage of that value with the market in that state? Mortgage lenders are being very cautious even now. But more to the point... What the f*** do you do for a living 2scoops to be able to afford an 'extra' 200 grand? Gizza job.
Of course I know that, but if you're trading up, then a 30% fall in your house is less moneywise than a 30% fall up stream. Plus house prices tend to go like a concertina, i.e. they collapse from the top down.
Extra 200k, well I don't have much of a mortgage left, plus a few savings. IT contractor for 13 years if you must know.
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What do you do for a living 2scoops to be able to afford an 'extra' 200 grand? Gizza job.
... "Hello, is that Learn Direct? Yes, I'd like to book a course in IT please. How long for? errm, I want to be qualified by the time the Housing Market has bottomed out".
Well done you 2scoops that you have almost finished your mortgage and you're still looking to better yourself. Well done indeed.... Oh by the way, just out of interest, what branch of IT would you recommend someone should study towards at the moment?
one of my former colleagues took the view that much of IT work was just a craft, like bricklaying or carpentry.
You learn a skill and keep your hand in, and if there's a shortage of skilled people, and a lot of demand, the wages go up.
When demand drops for your variety of carpentry, you can be out of work for quite a while.
When the colleges are turning out competent people by the thousand*, supply will exceed demand and wages will go down.
*for some reason this day does not yet appear to have come
You learn a skill and keep your hand in, and if there's a shortage of skilled people, and a lot of demand, the wages go up.
When demand drops for your variety of carpentry, you can be out of work for quite a while.
When the colleges are turning out competent people by the thousand*, supply will exceed demand and wages will go down.
*for some reason this day does not yet appear to have come
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2scoops0406
What do you do for a living 2scoops to be able to afford an 'extra' 200 grand? Gizza job.... "Hello, is that Learn Direct? Yes, I'd like to book a course in IT please. How long for? errm, I want to be qualified by the time the Housing Market has bottomed out".
Well done you 2scoops that you have almost finished your mortgage and you're still looking to better yourself. Well done indeed.... Oh by the way, just out of interest, what branch of IT would you recommend someone should study towards at the moment?
The UK IT market is absolutely booming at the moment as no-one studies it at colleague anymore, apparently it's a bit hard, probably nowhere near as some of the trade quals.
Me, time served I supposed, learnt it from the processor up, know far too little now, was, but not now particularly technical.
Areas to go into, that is really difficult, the grass roots IT industry in the UK has been decimated. I came from a developer background :-
Assembler, C/C++ Cobol, Fortran, Java, Basic. Scripting, Mainframes to PC thru Unix.
The money is now in consultancy, which is a load of old sh*te, you can get old sad bastards like myself or you can get 20 year olds.
I really don't know, I think maybe now would be a good time to get on board, although it's not easy for some odd reason, because, there really aren't that many IT people around, at least those who know what the hell they are talking about.
Oh, BTW, you can't study for consultancy (well not unless you work for accidenture)
Apart from that, .NET C# Unix Java J2EE (which all really use C Unix and anything thats quick) but deeply deeply technical in the finance markets will get you about £800 a day.
I love it when you talk dirty.
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2scoops0406
I love it when you talk dirty.
Well, only x86 assembler, I'm afraid. Mind you 32 bit not your rubbish 16 bit (although I did do quite a lot of that)
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2scoops0406
BASIC, APL, PL1, RPG2, DB2, Access
not really my thing
QMF ? Very mainframe !!
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