Mini Budget

[Pans Jambo]

36 minutes ago, Taffin said:

 

You're complaining about not making a profit on your house?!? That strikes me as wholly capitalist and prett much on line with Tory thinking. Profiting from commodities.

 

Agree with the general gist of your post though. As for the last line, you're free to leave any time you want though...it's where I'm edging towards.

 

My point is that prople on here are saying we should work hard and not expect hand outs. I have worked hard my entire life but the wealthy get the hand outs. And its not because they “work hard”.  
Whats the point in owning a home if it doesnt appreciate? Be aswell just renting no?

[manaliveits105]

 snp oot 

[Taffin]

Just now, Pans Jambo said:

My point is that prople on here are saying we should work hard and not expect hand outs. I have worked hard my entire life but the wealthy get the hand outs. And its not because they “work hard”.  
Whats the point in owning a home if it doesnt appreciate? Be aswell just renting no?

 

 

Short answer - to live in your own home with your family would be the point for me.

 

I do actually think it would be great if homes didn't appreciate the way they do and renting was affordable for all rather than being a huge expense because private landlords are clinging onto their properties to make money off them in rent whilst the value balloons.

 

I'm not having a pop at you, it's the system we're in so you're just playing the game but you can't really view your home as an investment and complain when it doesn't make you a profit whilst at the same time bemoaning the haves profiting from the have nots.

 

I mean if nothing sums up the mess we're in and echo's so much the Tory's are criticised for its that line in bold tbqh.

[Pans Jambo]

14 minutes ago, Taffin said:

 

If house prices go down, so do the ones you're looking to buy so I fail to see why it's an issue. Making money from your house and the desire to do so is a major part of the shit state the country is in.

Im aware house prices fluctuate. In my example, I only moved to a 1 bedroom bigger house because kid number 3 was on the way then BOOM! The greedy bankers collapsed the whole system and thousands were wiped off the value of my house overnight. That cost me a lit more that I budgeted for. 

They still got their obscene bonuses then, and theyre getting 5% tax cuts and unlimited bonuses now. 

[Taffin]

1 minute ago, Pans Jambo said:

Im aware house prices fluctuate. In my example, I only moved to a 1 bedroom bigger house because kid number 3 was on the way then BOOM! The greedy bankers collapsed the whole system and thousands were wiped off the value of my house overnight. That cost me a lit more that I budgeted for. 

They still got their obscene bonuses then, and theyre getting 5% tax cuts and unlimited bonuses now. 

 

But surely the house you were buying also decreased in value commensurate to your property? 

 

I'm trying to move just now and envisage my flat decreasing in value, but as long as the house(s) I'm looking at do in line also, then all it does is save me money on my mortgage and stamp duty (England).

[Pans Jambo]

2 minutes ago, Taffin said:

 

 

Short answer - to live in your own home with your family would be the point for me.

 

I do actually think it would be great if homes didn't appreciate the way they do and renting was affordable for all rather than being a huge expense because private landlords are clinging onto their properties to make money off them in rent whilst the value balloons.

 

I'm not having a pop at you, it's the system we're in so you're just playing the game but you can't really view your home as an investment and complain when it doesn't make you a profit whilst at the same time bemoaning the haves profiting from the have nots.

 

I mean if nothing sums up the mess we're in and echo's so much the Tory's are criticised for its that line in bold tbqh.

I didnt view it as an investment. Would still have been in that house had my wife no became pregnant. As my family grew so did the need for more room. 
im hardly a profiteering property magnate mate. Staying in a house for 7 years then selling it gor the same price I bought it for despite paying a mortgage for 7 years is a legitimate reason to complain. 
How many others list homes and pensions due to their excessive greed?

[Pans Jambo]

1 minute ago, Taffin said:

 

But surely the house you were buying also decreased in value commensurate to your property? 

 

I'm trying to move just now and envisage my flat decreasing in value, but as long as the house(s) I'm looking at do in line also, then all it does is save me money on my mortgage and stamp duty (England).

No, it was a new build. Deposit paid, deal agreed. 

[Taffin]

24 minutes ago, Pans Jambo said:

I didnt view it as an investment. Would still have been in that house had my wife no became pregnant. As my family grew so did the need for more room. 
im hardly a profiteering property magnate mate. Staying in a house for 7 years then selling it gor the same price I bought it for despite paying a mortgage for 7 years is a legitimate reason to complain. 
How many others list homes and pensions due to their excessive greed?

 

I don't agree. As long as it rose with the rate of inflation I'd be entirely happy with that return, or if the entire market had stayed flat. The bits in bold don't tally for me. Not an investment, yet unhappy when it didn't make more money 🤷🏻‍♂️

 

You paid your mortgage to have a family home for 7 years...what's not to like?

 

Would it be better if we didn't need to borrow vast sums from banks to buy homes? You bet. But whilst we as a society treat houses like stocks and shares then they'll be priced out of reach without mega loans and there will be vultures looking to exploit it.

 

A good example of big wins with no effort. I viewed a house recently. They're looking to sell it for 375k. It was bought in 2004 for 150k. The place was a tip, could have done with knocking down and rebuilding it. That's plumb Tory shittery right there imo. Profit off other people's need to a home simply by holding onto it for ages. Fortunately it has been on the market over 18 months, so people are maybe wising up to it.

 

23 minutes ago, Pans Jambo said:

No, it was a new build. Deposit paid, deal agreed. 

 

That's unfortunate, sorry. I'm not too familiar with how it works on new builds; I assumed you didn't pay your deposit until contracts exchanged etc. Yes, I can see why that would have been an issue for people.

Edited September 24, 2022 by Taffin
Merged two houses I've viewed into one in my head

[Pans Jambo]

Just now, Taffin said:

 

I don't agree. As long as it rose with the rate of inflation I'd be entirely happy with that return, or if the entire market had stayed flat. The bits in bold don't tally for me. Not an investment, yet unhappy when it didn't make more money 🤷🏻‍♂️

 

You paid your mortgage to have a family home for 7 years...what's not to like?

 

Would it be better if we didn't need to borrow vast sums from banks to buy homes? You bet. But whilst we as a society treat houses like stocks and shares then they'll be priced out of reach without mega loans and there will be vultures looking to exploit it.

 

 

 

That's unfortunate, sorry. I'm not too familiar with how it works on new builds; I assumed you didn't pay your deposit until contracts exchanged etc. Yes, I can see why that would have been an issue for people.

I really dont care about negative equity. Thats for folk who treat houses like piggy banks. I complained because the bankers didnt lose out. My family did because of them. Would have been happy in a council house. Couldnt get one. Maggie sold em off!

[The Mighty Thor]

A really good explainer from the IFS on yesterday's mini budget.

 

Breaks Fownhope just how deep and how damaging this borrowing will be for the next decade. 

 

Should also help some of the posters struggling with the alleged disparity between Scotland & rUK tax rates.

 

It might however dent the Berwick estate agency business as the stampede to avoid the SNPs punitive tax regime* gathers pace. 

 

* £300 a year for most normal folks and having checked Zoopla I wasn't seeing much in that price range.

 

Slavers gonna slaver

 

 

 

Edited September 24, 2022 by The Mighty Thor

[ri Alban]

Folk crying about paying more tax should do their job for less and pay less tax. Simple. Why you get paid more than tradesmen or firemen or coppers or whomever, is beyond me. Most of them do nothing. I could earn double  if I could be really bothered, but unlike these parasites, I actually need to work, no really work, not turn on a phone or whatever and steal or gamble someone else's money/savings/ house/life. But the wife works so i'll enjoy my weekends for a bit .

 

 

You choose legalised crime, so pay the tax.

[Taffin]

12 minutes ago, Pans Jambo said:

I really dont care about negative equity. Thats for folk who treat houses like piggy banks. I complained because the bankers didnt lose out. My family did because of them. Would have been happy in a council house. Couldnt get one. Maggie sold em off!

 

I get it, your situation was a right kick in the plums. I'm not defending the bankers, far from it. I'd just taken from your original post that you were annoyed you hadn't made the profit you'd anticipated on your house is all.

[Unknown user]

59 minutes ago, Taffin said:

 

His reaction appears to have been disappointment at not profiting from his commodity. Is a boat a commodity? In the UK, no.

 

If house prices go down, so do the ones you're looking to buy so I fail to see why it's an issue. Making money from your house and the desire to do so is a major part of the shit state the country is in.

 

You buy a house to live in, this viewing it as some kind of investment is bullshit.

 

 

Edit: Commodity probably isn't the right word...I'm looking for the word which means something is a need, not a want.

 

 

 

 

None of those things make the statement of being free to leave untrue. Hard maybe, sure...but nobody is stopping you.

 

It's precisely where my head is at currently. Will it be a ballache, yes...but I don't hate the UK, I'm just extremely dissatisfied by it. When it reaches hate, I'll be gone.

 

You're calling him Tory for the reality of living in a capitalist society though. No matter what his principles are, losing money on deals is a bad thing, values going down is a bad thing.

It's not possible for everyone to leave the UK, and anyway, what MAGA nonsense is that? If you don't like it you can gerrouta Murica!

 

No, this place needs to get better and it's right to complain about it.

[Taffin]

1 minute ago, Smithee said:

 

You're calling him Tory for the reality of living in a capitalist society though. No matter what his principles are, losing money on deals is a bad thing, values going down is a bad thing.

 

He didn't say the value had gone down at that point. He said he made no profit. He's since given a bit more detail.

 

Being unhappy at not making profit off your house is Tory imo. You can live in a capitalist society, doesn't mean you have to embody it.

 

Losing money on deals is a bad thing, but in every deal there's a winner and a loser and you won't win them all.

 

1 minute ago, Smithee said:

It's not possible for everyone to leave the UK, and anyway, what MAGA nonsense is that? If you don't like it you can gerrouta Murica!

 

No, this place needs to get better and it's right to complain about it.

 

Complaining does nothing.

 

MAGA?!? I'm not saying people leaving who don't like it will make it better...it'll make it worse. But if you hate somewhere, why stay there? It's mad.

 

The majority probably think it did get better yesterday so rather than launch a minority crusade I'd rather go and find somewhere that the majority share my view.

[Unknown user]

9 minutes ago, Taffin said:

 

He didn't say the value had gone down at that point. He said he made no profit. He's since given a bit more detail.

 

Being unhappy at not making profit off your house is Tory imo. You can live in a capitalist society, doesn't mean you have to embody it.

 

Losing money on deals is a bad thing, but in every deal there's a winner and a loser and you won't win them all.

 

 

Complaining does nothing.

 

MAGA?!? I'm not saying people leaving who don't like it will make it better...it'll make it worse. But if you hate somewhere, why stay there? It's mad.

 

The majority probably think it did get better yesterday so rather than launch a minority crusade I'd rather go and find somewhere that the majority share my view.

 

It's not at all Tory, it's a daft accusation for me

[Pans Jambo]

12 minutes ago, Taffin said:

Being unhappy at not making profit off your house is Tory imo. You can live in a capitalist society, doesn't mean you have to embody it.

No, getting wealthy off the labours of someone elses back and not giving a feck about anybody else whist doing it is a tory.

Buying a home for your family then getting shafted by bankers causing you pay out even more money isnt. 
 

If you buy a car, a mobile, a T-shirt, go into a restaraunt with a logo on it, you are part of a capitalist society. 
 

What are you driving at this morning Taff? If we dont all live in the woods in a hand built off grid cabin we are all tories???

[jambo89]

14 hours ago, Malinga the Swinga said:

Is being £280 better off not a good thing? Reckon I'll be about £350 year better off. Not brilliant but better than being £350 worse off, so I'll take it and run. Certainly not going to worry about what some rich person going to earn because I can't change it.

Life throws challenges at you and best to battle through with determination and be as positive as you can.

 

I'm no expert, but with the drop in the value of the pound this will mean exports are more costly. As we've seen from the past year, this is passed on to the consumer, so is the £280 better off actually true in real terms? Could we actually be worse off with this news?

 

14 hours ago, kingantti1874 said:

and you still haven’t absorbed them properly.  The bailout wasn’t for a few bankers.  It was for the banks.  But now we are on the same page! Is the financial sector, a cornerstone of the U.K. economy Yea or No. 

 

You've used this 'cornerstone' phrase multiple times. In the past 40 years, the energy sector has, on average, contributed just as much to the UK economy than the financial sector in that same time period, coupled with the fact that the fact the services sector makes up 93% of the London economy but just accounts for just 80% of the rest of th UK. Different sectors contribute varyingly throughout the decades and indeed contribute more or less to different parts of the country. The financial sector is just as important to London as the energy sector is to Aberdeen and each are important to the wider UK. Yet the workers of only one of those sectors is being rewarded is this latest budget and wouldn't you know it, it's those workers based in London.

 

13 hours ago, Greedy Jambo said:

The excuse i heard earlier was that they're scared of the big money earners packing up shop and moving abroad. 

 

This excuse is pure nonsense. I've heard this before and the very idea that somone would uproot their entire gamily, rip the kids from school / friends / grandparents and all the other associated costs to save a couple of grand on tax is ludicrous.

 

 

13 hours ago, Shooter McGavin said:

That’s all great, and again, even being able to work is a luxury, and one that many don’t have through disabilities etc.

 

If you think life is as simple as just work hard and you’ll be fine, doesn’t matter what your background is or what upbringing you had etc, then I’m afraid that’s not true, and that’s coming from someone who at one time probably held similar beliefs.

 

I think life has taught me that you need to be compassionate, as others haven’t been anywhere near as lucky as me, or yourself for that matter.

 

You could have all the determination you want, but say for example your mum and dad we’re drug addicts who gave you no kind of upbringing, you’ve not got a stable home, you’ve got an elderly relative you need to look after etc, then it’s pretty obvious they’re f***** from day one and are going to need some level of support to crack on in life.

 

Feel free to address the other points in my previous post, if you’d like.

 

This is where I am at.

A poster replied to this saying that 'it is possible to escape' these situations through hard work. Who is going to show soemone how to escape this situation? Because it certainly won't be someone at home.

 

10 hours ago, Aaron78 said:

Its laughable. I put said poster on ignore a while ago. Criticising people that contribute the most in taxes as being parasites is beyond parody. 

 

Will see how the Scottish government respond but if their reaction punishes me for having the audacity to be successful in my career by taxing me excessively in comparison to my English counterparts then I'll quite happily buy a small property in Berwick knowing that the extra costs of owning another property rather than paying extra tax benefit my own families future rather than being frittered away by a Scottish government that is incompetent. 

 

My childrens lives while I'm here and their futures after I depart from this earth are what matter most to me and I've worked hard to be in a position where I can make choices which benefit them. 

Not sure how much you earn, but I reckon if you were to relocate your children to a new school, new friends and disrupt their studies in order to save a couple thousand in tax, it would hinder your kids, not benefit them. But I dont know your situation so could be miles off it.

[Shooter McGavin]

4 minutes ago, jambo89 said:

This is where I am at.

A poster replied to this saying that 'it is possible to escape' these situations through hard work. Who is going to show soemone how to escape this situation? Because it certainly won't be someone at home.

It all comes down to people who do okay for themselves, and then suddenly think they’re closer to being a tory elite, than they are the poor family down the road.

 

Tories love convincing these middle class wannabes into thinking they’re one of them, and to get them punching down below them.

 

It’s all quite sad, to be honest.

[Taffin]

23 minutes ago, Smithee said:

 

It's not at all Tory, it's a daft accusation for me

 

That's fine, agree to disagree. 

 

16 minutes ago, Pans Jambo said:

No, getting wealthy off the labours of someone elses back and not giving a feck about anybody else whist doing it is a tory.

Buying a home for your family then getting shafted by bankers causing you pay out even more money isnt. 
 

If you buy a car, a mobile, a T-shirt, go into a restaraunt with a logo on it, you are part of a capitalist society. 
 

What are you driving at this morning Taff? If we dont all live in the woods in a hand built off grid cabin we are all tories???

 

Do you make money off having a car, a t-shirt or a mobile? I don't, maybe I'm doing it wrong. Being part of it isn't the same as embodying it imo.

 

I drive a 2014 VW. I'll refrain from presenting that as me choosing to drive the car of the people 😂

 

You and smithee disagree, that's fine. Personally I think wanting to make a profit off ones home is a major cause of firstly the crisis in 2008 and a more generally grimness about life. Which is fine if folk are into that more power to their elbow, I just don't think it's compatible with then moaning about capitalism when you end up on the losing side.

Edited September 24, 2022 by Taffin

[Unknown user]

11 minutes ago, Taffin said:

 

That's fine, agree to disagree. 

 

 

Do you make money off having a car, a t-shirt or a mobile? I don't, maybe I'm doing it wrong. Being part of it isn't the same as embodying it imo.

 

I drive a 2014 VW. I'll refrain from presenting that as me choosing to drive the car of the people 😂

 

You and smithee disagree, that's fine. Personally I think wanting to make a profit off ones home is a major cause of firstly the crisis in 2008 and a more generally grimness about life. Which is fine if folk are into that more power to their elbow, I just don't think it's compatible with then moaning about capitalism when you end up on the losing side.

Doesn't make it Tory

[Cade]

Houses are supposed to be treasured family homes, not get rich quick schemes.

 

The assumption of the public is "I get a house then it passively generates value over time, making me profit every time I sell it".

That is not a god given right.

The "housing ladder" is an aspirational bullshit myth.

The only way it functions at all is if house prices increase all the time, which is how we always end up with unsustainable bubbles.

Even now, vast amounts of taxpayers money is being used to keep the housing market inflated.

It is not a free market.

It's a feckin pyramid scheme.

 

As with all western Capitalist systems, the UK's economy is based on debt.

Personal debt, company debt and national debt.

The UK has chosen, since the 1980s, to base the entire economy on personal house mortgages.

This has forced successive governments to keep the housing bubble inflated and heating up with public funds.

They even deregulated the banks to let them give mortgages out to people who they KNEW couldn't pay them back, just to keep the house prices rising.

This kind of bullshit system only works as long as nobody actually demands repayment or calls the bluff.

This happened in 2008. The whole house of cards came down.

But because the entire economy needs the housing bubble and governments are too stuck in their ways to think of anything else, they fired up the printing presses and gave limitless cash to the banks to get the bubble re-inflated as fast as possible.

 

Every single decision made by the Bank of England revolves around protecting home owners, never mind about businesses or anybody else.
The whole thing is a sham.

The entire economy is built on a lie, on a giant pile of unaffordable debt.

[Taffin]

1 minute ago, Smithee said:

Doesn't make it Tory

 

For me, it does.

 

Buy something with someone elses money (9 times out of 10), make money due to supply and demand, then attempt to leverage it to buy more with someone elses money. Screams Tory principles to me.

[Taffin]

7 minutes ago, Cade said:

Houses are supposed to be treasured family homes, not get rich quick schemes.

 

The assumption of the public is "I get a house then it passively generates value over time, making me profit every time I sell it".

That is not a god given right.

The "housing ladder" is an aspirational bullshit myth.

The only way it functions at all is if house prices increase all the time, which is how we always end up with unsustainable bubbles.

Even now, vast amounts of taxpayers money is being used to keep the housing market inflated.

It is not a free market.

It's a feckin pyramid scheme.

 

As with all western Capitalist systems, the UK's economy is based on debt.

Personal debt, company debt and national debt.

The UK has chosen, since the 1980s, to base the entire economy on personal house mortgages.

This has forced successive governments to keep the housing bubble inflated and heating up with public funds.

They even deregulated the banks to let them give mortgages out to people who they KNEW couldn't pay them back, just to keep the house prices rising.

This kind of bullshit system only works as long as nobody actually demands repayment or calls the bluff.

This happened in 2008. The whole house of cards came down.

But because the entire economy needs the housing bubble and governments are too stuck in their ways to think of anything else, they fired up the printing presses and gave limitless cash to the banks to get the bubble re-inflated as fast as possible.

 

Every single decision made by the Bank of England revolves around protecting home owners, never mind about businesses or anybody else.
The whole thing is a sham.

The entire economy is built on a lie, on a giant pile of unaffordable debt.

 

 

This is a much more eloquent way of what I'm badly articulating.

 

I'd just add that if you play this game and want to benefit from it financially, you're a part of it imo.

Edited September 24, 2022 by Taffin

[Unknown user]

8 minutes ago, Taffin said:

 

For me, it does.

 

Buy something with someone elses money (9 times out of 10), make money due to supply and demand, then attempt to leverage it to buy more with someone elses money. Screams Tory principles to me.

 

 

That's not Tory, this is Tory.

 

https://www.bbc.co.uk/news/uk-england-norfolk-63006755

 

"Liz Truss is facing questions over Foreign Office spending, including £1,841 at Norwich City's online shop during her time as foreign secretary.

 

Labour's shadow attorney general Emily Thornberry queried the use of Foreign Office expense cards, up 45% on last year, in a letter to the department."

 

£4,333 was billed to the foreign office for 2 trips to the hairdresser while she was foreign secretary.

 

Sorry for hammering this home, but that alone is more than a single person's universal credit for an entire year, and this multi millionaire *****'s giving it to her hairdresser.

 

It's no nice to call people Tories!

Edited September 24, 2022 by Smithee

[Taffin]

2 minutes ago, Smithee said:

 

 

That's not Tory, this is Tory.

 

https://www.bbc.co.uk/news/uk-england-norfolk-63006755

 

"Liz Truss is facing questions over Foreign Office spending, including £1,841 at Norwich City's online shop during her time as foreign secretary.

 

Labour's shadow attorney general Emily Thornberry queried the use of Foreign Office expense cards, up 45% on last year, in a letter to the department."

 

£4,333 was billed to the foreign office for 2 trips to the hairdresser while she was foreign secretary.

 

Sorry for hammering this home, but that alone is more than a single person's universal credit for an entire year, and this multi millionaire *****'s giving it to her hairdresser.

 

It's no nice to call people Tories!

 

😂😂

 

It's not nice, no. Yet it's thrown around here a lot more loosely than I am. Fwiw I don't think Pans is a Tory, but I do think his initial post I responded to came across as Tory principles in relation to houses. As I say, he's since expanded and we're broadly on the same page

[WorldChampions1902]

39 minutes ago, jambo89 said:

I'm no expert, but with the drop in the value of the pound this will mean exports are more costly. As we've seen from the past year, this is passed on to the consumer, so is the £280 better off actually true in real terms? Could we actually be worse off with this news?

The bits in bold. Firstly, it’s not our exports that become more costly, it’s our imports. So that will add fuel to the inflationary fire we (allegedly) are trying to douse. Especially as oil is paid for in Dollars, and the price of that basic commodity has such a dramatic and widespread affect on our economy.

 

My view is that “yes”, we (the ordinary Joe’s) are going to be worse off. Unless of course, you are one of the people who will benefit from the scrapping of the 45% Income Tax rate. Who will also likely live in a large house and benefit the most from the energy price cap as well, because large gaffs require greater amounts of gas and electricity to heat/light. Not to mention being the biggest winners from the National Insurance reduction too. And that’s before we even talk about the projected interest rate rises and surging mortgage payments.

 

But enjoy your scraps from the Tory table.

[Pans Jambo]

28 minutes ago, Taffin said:

 

For me, it does.

 

Buy something with someone elses money (9 times out of 10), make money due to supply and demand, then attempt to leverage it to buy more with someone elses money. Screams Tory principles to me.

That would be true if folk bought houses for that reason. 
 

Getting shafted by casino Capitalists doesnt make you a tory. Voting tory and complaining that the “lazy” single

mum down the street has a council flat whilst you earn £150k a year and its not fair, does. 

[Cade]

Cost of national borrowing has gone up, so it's going to take longer and cost more to pay back these seemingly never ending giant loans.

 

Because every commodity on the planet is traded in US Dollars, the weakening pound means that imports are getting more expensive.

So inflation will be pushed up by that.

 

The UK economy is teetering on the edge of complete collapse.

 

And this is before we've even fully implemented Brexit, which will only make things worse.

[Pans Jambo]

Just now, Cade said:

Cost of national borrowing has gone up, so it's going to take longer and cost more to pay back these seemingly never ending giant loans.

 

Because every commodity on the planet is traded in US Dollars, the weakening pound means that imports are getting more expensive.

So inflation will be pushed up by that.

 

The UK economy is teetering on the edge of complete collapse.

 

And this is before we've even fully implemented Brexit, which will only make things worse.

Whos driving all that again???

[John Gentleman]

45 minutes ago, Taffin said:

 

 

This is a much more eloquent way of what I'm badly articulating.

 

I'd just add that if you play this game and want to benefit from it financially, you're a part of it imo.

Aren't 'profits' on house sales a bit illusory though? You make XX 'profit' on the sale of your home, but then you've got to apply that profit to the purchase of a replacement home, which has also soared in price.
Zero sum game..........the only real winners being estate agents. 

[Taffin]

15 minutes ago, John Gentleman said:

Aren't 'profits' on house sales a bit illusory though? You make XX 'profit' on the sale of your home, but then you've got to apply that profit to the purchase of a replacement home, which has also soared in price.
Zero sum game..........the only real winners being estate agents. 

 

Yes, but so are losses by that reckoning. Alternatively you climb the property ladder, sit in an under occupied house, sell it for half a million quid and then get a nice subsidised retirement property for the over 65s whilst the young struggle to buy anything.

[ri Alban]

4 hours ago, Taffin said:

 

You're complaining about not making a profit on your house?!? That strikes me as wholly capitalist and prett much on line with Tory thinking. Profiting from commodities.

 

Agree with the general gist of your post though. As for the last line, you're free to leave any time you want though...it's where I'm edging towards.

 

Scotland will leave soon enough. It's the UK he hates, not Scotland, like the Hoosers.

[JudyJudyJudy]

4 hours ago, ri Alban said:

That's my Golf membership paid for and the heater on, full. Kwasimodo! Sorry, I've bought a caravan in Berwick anaw, to dodge ma tax.

You can be highly entertaining at times  on fire today it seems 

3 hours ago, Taffin said:

 

I don't agree. As long as it rose with the rate of inflation I'd be entirely happy with that return, or if the entire market had stayed flat. The bits in bold don't tally for me. Not an investment, yet unhappy when it didn't make more money 🤷🏻‍♂️

 

You paid your mortgage to have a family home for 7 years...what's not to like?

 

Would it be better if we didn't need to borrow vast sums from banks to buy homes? You bet. But whilst we as a society treat houses like stocks and shares then they'll be priced out of reach without mega loans and there will be vultures looking to exploit it.

 

A good example of big wins with no effort. I viewed a house recently. They're looking to sell it for 375k. It was bought in 2004 for 150k. The place was a tip, could have done with knocking down and rebuilding it. That's plumb Tory shittery right there imo. Profit off other people's need to a home simply by holding onto it for ages. Fortunately it has been on the market over 18 months, so people are maybe wising up to it.

 

 

That's unfortunate, sorry. I'm not too familiar with how it works on new builds; I assumed you didn't pay your deposit until contracts exchanged etc. Yes, I can see why that would have been an issue for people.

Call me old fashioned but i thought buying a house was for one to live in and not be used as some form of investment. 

2 hours ago, Cade said:

Houses are supposed to be treasured family homes, not get rich quick schemes.

 

The assumption of the public is "I get a house then it passively generates value over time, making me profit every time I sell it".

That is not a god given right.

The "housing ladder" is an aspirational bullshit myth.

The only way it functions at all is if house prices increase all the time, which is how we always end up with unsustainable bubbles.

Even now, vast amounts of taxpayers money is being used to keep the housing market inflated.

It is not a free market.

It's a feckin pyramid scheme.

 

As with all western Capitalist systems, the UK's economy is based on debt.

Personal debt, company debt and national debt.

The UK has chosen, since the 1980s, to base the entire economy on personal house mortgages.

This has forced successive governments to keep the housing bubble inflated and heating up with public funds.

They even deregulated the banks to let them give mortgages out to people who they KNEW couldn't pay them back, just to keep the house prices rising.

This kind of bullshit system only works as long as nobody actually demands repayment or calls the bluff.

This happened in 2008. The whole house of cards came down.

But because the entire economy needs the housing bubble and governments are too stuck in their ways to think of anything else, they fired up the printing presses and gave limitless cash to the banks to get the bubble re-inflated as fast as possible.

 

Every single decision made by the Bank of England revolves around protecting home owners, never mind about businesses or anybody else.
The whole thing is a sham.

The entire economy is built on a lie, on a giant pile of unaffordable debt.

Good posting. 

[Cade]

Total outstanding value of all UK residential mortgages?

 

£1.648 Trillion.

 

£1,648,000,000,000.

[Don Dan]

13 hours ago, hughesie27 said:

£ now £1.08 to the dollar. Bantz.

Great for tourists coming here 🤷🏻‍♂️

[jack D and coke]

Interesting little thread…

 

[Mikey1874]

18 hours ago, Greedy Jambo said:

The excuse i heard earlier was that they're scared of the big money earners packing up shop and moving abroad. 

 

 

So yesterday's measures are mainly to compensate for Brexit. 

 

Fair play. 

[Mikey1874]

3 hours ago, Pans Jambo said:

Whos driving all that again???

 

More borrowing. 

[Mikey1874]

1 hour ago, Cade said:

Total outstanding value of all UK residential mortgages?

 

£1.648 Trillion.

 

£1,648,000,000,000.

 

People were arguing yesterday mortgage interest rates going up isn't such a big deal because of affordability checks.

 

This suggests otherwise. Affordability calculations changed to get more income for the financial sector basically. People are more exposed. 

 

 

 

[Mikey1874]

More good news. Someone with assets of €5 million assets paid €53,000 wealth tax now pays €0. Though on the other hand Spain's socialist Government has imposed a wealth tax. 

 

 

Edited September 24, 2022 by Mikey1874

[il Duce McTarkin]

7 hours ago, Aaron78 said:

Your contribution to this forum would be hugely enhanced if you restricted yourself to only using that emoji rather than using the written word and talking complete ***** the majority of the time 👍

 

Mr RI Alban will chuck you off a roof.

[Konrad von Carstein]

 

[Mikey1874]

32 minutes ago, Konrad von Carstein said:

 

 

 

[Shooter McGavin]

I think this thread has went slightly off topic, but to recap on the mini-budget,

 

We’ve essentially hammered ourselves in even more debt, just so people earning £1 million per year will get an extra £54,000.

 

Oh and those that are most in need of financial support due to the cost of living crisis are getting a plaster on an open wound that’s p****** blood.

 

Only a simpleton would herald it as a comprehensive result.

[doctor jambo]

9 hours ago, Pans Jambo said:

My point is that prople on here are saying we should work hard and not expect hand outs. I have worked hard my entire life but the wealthy get the hand outs. And its not because they “work hard”.  
Whats the point in owning a home if it doesnt appreciate? Be aswell just renting no?

It’s not a hand out , it’s getting to keep a bit more of the money you earned, and spend it as you see fit, instead of the govt spending it on shit you disapprove of ….

and you pay a mortgage because it ends at some point and you leave it to your kids, so they get a wad when you die

[Jamstomorrow]

It's so unfair that the Tory's are taxing those English taxpayers less than we are paying.  We seem to be subsidising them left, right and centre with the billions of money we are taking in from a much smaller working population and sending down there.  What do they give us in return?   Dreadful drug death tolls, terrible A+E waiting times and delayed operations, a nationalised railroad that is already costing a fortune, a white elephant airport, a dreadful nationalised polis not fit for the purpose, failing this, failing that .  .  .  and potholes.  Damnable!!

[Costanza]

At least some people are doing well out of this.

Quick pop quiz: Who used to work for Odey Asset Management?

 

 

https://www.reuters.com/business/finance/odeys-hedge-fund-soars-145-bets-against-uk-bonds-sources-2022-09-22/

[Watt-Zeefuik]

8 hours ago, Taffin said:

 

For me, it does.

 

Buy something with someone elses money (9 times out of 10), make money due to supply and demand, then attempt to leverage it to buy more with someone elses money. Screams Tory principles to me.

 

You can't change the game that you're expected to play, though. The US is at this point still a good bit more "laissez-faire" than the UK (although Truss seems to be doing her best to change that), so take this for what it's worth, but my research is all about alternatives to mass private ownership of land, and how we could do much better for housing with land trusts, housing cooperatives, and so forth. I spend a lot of volunteer time advocating for and trying to make that happen.

 

And while I've even spent a bit of effort a few times to get a true land trust started around us that we could live on with others, I still own my house, and it's still far and away the largest piece of wealth I own. We're about to do a major renovation on our house because the kitchen cabinets are falling apart, the back wall has rot in it, and four of us are sharing one tiny bathroom. If housing prices collapse, we could be stuck with an enormous mortgage that's far larger than our savings. Fortunately we're in a pretty thriving area for the moment and that doesn't look to change.

 

Do I want the roof over our heads to be part of some big capitalist shell game where we're very likely to be a winner but perhaps not, and others are going to be losers? No, I very much do not. If forced to play the game because other options have been ignored, underfunded, and intentionally sabotaged, do I expect some modicum of support from the state to keep us and others from being ruined? Yes, I absolutely do.

[dobmisterdobster]

1 hour ago, Jamstomorrow said:

It's so unfair that the Tory's are taxing those English taxpayers less than we are paying.  We seem to be subsidising them left, right and centre with the billions of money we are taking in from a much smaller working population and sending down there.  What do they give us in return?   Dreadful drug death tolls, terrible A+E waiting times and delayed operations, a nationalised railroad that is already costing a fortune, a white elephant airport, a dreadful nationalised polis not fit for the purpose, failing this, failing that .  .  .  and potholes.  Damnable!!

 

The SNP/Green government in Holyrood are keeping taxes high in Scotland.

[Konrad von Carstein]

10 minutes ago, dobmisterdobster said:

 

The SNP/Green government in Holyrood are keeping taxes high in Scotland.

Do feck off... The difference is marginal you trumpet...and the money is better spent...as you live in England it has zero impact on you anyway.