:eek: i hope not.....
:eek: i hope not.....
....you should be glad of the attention.
I am ALL these things - (except I read the Independent and don't wear flipflops) - and I WILL be affected by the credit crunch. I have a mortgage, I have debts and I have bills to pay, cars to run and three children to educate.
WHY do you think someone like me would be unaffected by the credit crunch?
And why do people like me upset you so much? :confused:
er..I don't have a beard, that's true, or drink red wine, but I do have solar panels and yes, I do play the piano! (but mostly the French Horn). And I don't smoke either.
Actually, I don't drink at all , which SURELY must upset you?
I wear flip flops, my pc is under the table, I recycle but really think that lifes too short to wash out cat food tins, grammar school 'til it went comp (would rather be the mad drummer than Miss Piggy if I have to be a muppet)Quote:
flipflop-wearing, pc left-of-centre, recycling, grammar-school educated muppet
Also I make sure I consume my full quota of alcohol each weekend, but not wine can't stand it! :D
I'm actually quite impressed by the teacher's response in the first post it's the sort of thing I'd say:)
Although it may be that she is as old as me and can remember when you had to go on bended knee to get a mortgage even though you had saved at the building soc for years and the interest rate was 14%. In which case she's been there, read the book, ate the pie, worn the t shirt much like myself:)
Not uptight either,torledo, just interested in why you are so prejudiced about so many things - where does it all come from....:o
I know I really shouldnt care about this, but there is just no way someone would answer that and be genuinely serious about it
I cant believe you actually asked her about it! It was a flippant, mildly humourous remark!
some households are not doing that bad, dual income households who are living the dream of living in a trendy area sending the kids to the good schools. Many will no doubt have mortgages, and some are asset rich but cash poor, however they are hardly affected by the credit crunch in the same way a young couple are who don't have well paid jobs/high earning partners and therefore can't afford to get on the property ladder....
similarly people who've bought property 5 or 6 years are feeling very satisfied that they've seen values almost double in some instances, while there mortgage is relatively modest in comparison to what ftb's have to raise. Ofcourse it's not that some people have always been lucky...i take the point about the 14% interest rates, but we've had fairly stable interest rate levels for over a decade, today the issue is affordability and the susceptibiliy of new buyers to even small interest rate fluctuations due to the astronomical cost of housing more than anything else.
ofcourse there are plenty out of this bunch who are asset rich cash poor yet have still found a way to send the kids private, upgrade to a new car every couple of years, and then bleet on about the cost of petrol and gas.
If i had bought at a time when you could buy a house at 3-3.5 times a single household income at a reasonable interest rate, and when the mortagage lenders fall over themselves to offer preferential rates when that fixed-rate mortage deal comes to an end....then i wouldn't be in the least bit worried about the credit crunch. I'd be grateful i didn't mortgage my future on the back of x5.5 or x6 salary multiple
I have no doubt life isn't a bed of roses for you witch, but next time you sit down at your piano with your IT expert husband (in his doubtless well paid job) you should spare a thought for people who've been priced out of the housing market....they are the real victims of the credit crunch, not the dual income home-owners who bought pre-2006. This govt. has for too long tried to woo middle england, for fear of upsetting them and losing their vote...as a result they have left house prices go unchecked, i think it's time really to focus on young couples and first-time buyers rather than worry about middle england seeing the value of their homes drop a few percent. What i see around me and the sandal-wearing piano players comment, masks a serious point about social mobility, or the lack of it.
You can be indignant all you want Witch, but my view is that the govt. has pandered to a certina demographic of peple for too long....as a result the future of young people on low-to-middling incomes is totally bankrupt with social mobility virtually non-existent.
If you want to accuse me of being bitter, and that would be fair comment. But prejudiced i think is a bit strong....sure i accept everyone has felt the credit crunch pinch, but some people are uniquely positioned to cope with it due mainly to when they bought property, whereas those who haven't been so fortuante are the ones who feel the credit crunch the most.
the guardian-reading stuff was somewhat tongue-in-cheek but i'm not angry or particularly upset with some people...i think there's a seirous point to be made about the social makeup depending on what postcode you happen to have bought in. And about how the credit crunch is more than just the cost of petrol and gas.
Whilst I do agree with you to a point, how do you know her husband is in a well paid job? We're in IT, and we're not...
I had a piano once...it was about £60 from a second hand store..However, I don't drink, don't have flip-flops, don't read newspapers, do recycle, do have solar panelling, don't own, do rent and so on..
House prices and prices in general are daft, and overdue for a collapse IMHO. Bring it on. Even with Jem's wage (same as mine), we've got no chance of getting on the housing ladder. I'll settle for renting for now - if it all goes wobbly, we can bail out to the parents and rebuild again.
Can't see it coming to it though..we're very very careful with finances. Neither of us have any debt (nor will I if I can avoid it), if we buy new, it's unusual...second user, old tech does the job. Credit is a naughty word..I was always taught "if you can't afford it, go without". I refuse to have a credit card in the house. Loans the same.
We still have the same comfort level as everyone else, but I'll bet it's at a fraction of the cost.
I was looking at our old flat, which has come up for sale...a 3 room, 1 bed flat..nice area, yes...but..£95k. Sod that. I see a 2 bed bungalow down the road for £150kish, had 2 price cuts so far. Still a lot of dosh..but I'm happy to play the waiting game and rent until prices bottom out. We'll see what we can do then.
Assuming we can afford to light/heat a place at that point, or run a vehicle, of course.
As to our Gov't...Useless. Totally useless. Meddling, spineless, totally in need of removal.
I'd have to say that, really, that rampant house price inflation hasn't be caused by people who bought their homes a long time ago - I bought mine 19 years ago - right at the top of a previous price spike and then watched myself fall deep into negative equity and face redundancy - so certainly haven't contributed to the silly prices seen now.
IMHO, what has caused this situation is irresponsible lending by the banks, combined with small pockets of people on ridiculously high wages. If (as when I was buying my first house) you were not allowed to borrow more that 3.5x the biggest earners salary - there wouldn't have been this stupid inflationary spiral.
The banks were deregulated in the 80s because they didn't need to be restricted, and could be trusted (cough cough). The restrictions had been put in place by Govt after a similar frenzy in the 1920's lead to the 30s depression - and we know what it took to get out of that! Alas - this time - there doesn't seem to be the inclination to step in and do something, apart from throw good money after bad and reward the banks by passing on even more cheap funds to them.
Do you not think then that us people who bought our houses 25 years ago don't know what it's like to be broke? We only just survived financially for the first 5 years of being home owners, single income family, I couldn't work we had a child with a heart condition that only stabilised after an operation at the age of 2. We were so short of money if my husband's suit needed cleaning one month it was a financial disaster. He also went to uni one day/night a week to get a degree, eventually things got better, he was on yearly increments, got a couple of promotions and I got a job as a dinner lady at my sons local (state) school. My eldest son's just finished uni totally funded by himself and worked at the local pub to support himself, the youngest's a builder.
So sorry don't tell me that people like me don't know what a credit crunch is as I've said before I've read the book, ate the pie, worn the t shirt. I don't care whether I'm middle classed or not, but I do know is that what we have now is down to sheer hard work over the years and therefore ours to enjoy, hopefully without being 'mocked' about being middle classed.
Anyway credit crunch is not going to effect me I am going to win the lottery on Saturday..
Power of positive you see dam just thought that might be classed as bit hippy oh heck now I have started something off...