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# quick and crap.........
The central line drains hummus faster than all other forms of transport combined.

(I helped save b3ta! WOLF .™, Tue 20 Nov 2007, 12:01, archived)
# ohh!
political!
*gets soap box out*
*washes*
*puts soap box away*
(I helped save b3ta! ivesb Highly specialised Clinical Physiologist crapbag, Tue 20 Nov 2007, 12:02, archived)
# so
unfortunately true…
(perkusfux, Tue 20 Nov 2007, 12:03, archived)
# Fractional reserve banking
is all you need to know.
(I helped save b3ta! Brandy_Bumwinkle, Tue 20 Nov 2007, 12:03, archived)
# right
maybe they should have let the bank collapse, and had a nationwide panic rush on savings with even more banks falling in a spiral of misery. is that what you want?
(I helped save b3ta! cumquat may will not be commenting further on the allegations, Tue 20 Nov 2007, 12:03, archived)
# yes

I live for spirals of misery
(I helped save b3ta! WOLF .™, Tue 20 Nov 2007, 12:04, archived)
# it's pyramids of nonchalance for me
(I helped save b3ta! cumquat may will not be commenting further on the allegations, Tue 20 Nov 2007, 12:06, archived)
# Isogons of Insouciance
ftw
(Nefarious Moose went back into lurk mode at, Tue 20 Nov 2007, 12:14, archived)
# WELL, IS IT?
IS THAT WHAT YOU WANT!?!?!

ANSWER ME!!!!

(I helped save b3ta! Sonic James Doom forgetting the date since... umm..., Tue 20 Nov 2007, 12:04, archived)
# Yes
(I helped save b3ta! wheelybird mreee!, Tue 20 Nov 2007, 12:06, archived)
# What's this?
Reasoned argument? This is no place for being reasonable young man, go to your room!
(I helped save b3ta! Wasp Box like a nervous random stranger at a glory hole, Tue 20 Nov 2007, 12:06, archived)
# yes
can't afford a house so could do with a nice recession.

Edit - heh! b3ta nihilists ftw!
(I helped save b3ta! barryheadwound Mul-ti-pass? Multipass!, Tue 20 Nov 2007, 12:07, archived)
# oooh thats a good idea
(I helped save b3ta! crazyjude is very happy with happytoast and his skill, Tue 20 Nov 2007, 12:08, archived)
# it would certainly helps economies become more stable than they are now
and give everyone a little bite of the apple.
may also draw the mortgage lenders and main banks into line to clean up their act and take responsibility for their irresponsible lending.

/best thing that could happen for first time buyers/people without the means to get on the ladder is a 3 month national amnesty from first time buyers in pursuing a property.
The market would 'stall' due to the necessity of FTB as 'corner stones of continuation' of the market.
(I helped save b3ta! The Great Architect is still waiting for his account to be deleted on, Tue 20 Nov 2007, 12:11, archived)
# Sounds like a plan.
Money has outlived its usefulness and it's time to abolish it.
(I helped save b3ta! Afinkawan Yes I can hear you Clem Fandango, Tue 20 Nov 2007, 12:07, archived)
# it'd do fucking wonders for my credit card bill
that's for certain

oh well, I wouldn't be (merely) poor anymore :)

I'd be selling internal organs on ebay
(I helped save b3ta! discomeats This canoe, Tue 20 Nov 2007, 12:10, archived)
# Quick, someone post a nonsensical picture
to counteract the sensible and reasoned comment, or we're all dooooooomed!
(I helped save b3ta! FredAstaireAteMyTapShoes but he left me this fetching ballgown, Tue 20 Nov 2007, 12:10, archived)
# poo bum wee
(I helped save b3ta! Joe Scaramanga with a G-double-O-D vibration, Tue 20 Nov 2007, 12:13, archived)
# piss piss wee arse tit monkeys!
(I helped save b3ta! discomeats This canoe, Tue 20 Nov 2007, 12:14, archived)
# oooh, little bit o' polly sticks

(I helped save b3ta! Wasp Box like a nervous random stranger at a glory hole, Tue 20 Nov 2007, 12:07, archived)
# I'm not happy about this.

If banks risk their money by giving bad credit due to excess greed, why should tax payers pay it back. It makes no sense. I'm all giddy and confused now. Quick! I need a shot of Winter Pimms & ginger ale!
(I helped save b3ta! wheelybird mreee!, Tue 20 Nov 2007, 12:08, archived)
# Hmmm
I think the most galling thing is that the idiots running the bank will still walk away with a few million in payoffs and the like....
(I helped save b3ta! WOLF .™, Tue 20 Nov 2007, 12:09, archived)
# no, the most galling thing is that the banks will still get off scot-free when the crash does happen - to whatever extent - because our tax-payers money will keep them afloat
(I helped save b3ta! The Great Architect is still waiting for his account to be deleted on, Tue 20 Nov 2007, 12:13, archived)
# yes and this ^^^^^^^
(I helped save b3ta! WOLF .™, Tue 20 Nov 2007, 12:18, archived)
#
The market is now downturning, the problem isn't with enough homes built, or being built, it's about the prices existing houses are fetching which are well out of reach of salaries.

the problem will only get worse, encouraging today's students to leave £15k-£20k in debt, most of them as graduates will only earn £20k-£25k starting salary anyway for the first few years, meaning they'll be saddled
with the debt into getting a mortgage which may well be 10 times the level of debt they are currrently in, meaning they'll need to be earning somewhere in the region of £45K-£50K before they can even start to think about applying for mortgages,

and with the best will in the world there aren't a whole lotta jobs for graduates which go up from £25k to £50k in a few years.
(I helped save b3ta! The Great Architect is still waiting for his account to be deleted on, Tue 20 Nov 2007, 12:24, archived)
# True.......
Having graduated in 1998 I bought my first place in 2006....
Most first time buyers are now in their very late 20's / early 30's.

The other problem is not so much affordable homes, but finding something affordable that's not in a shit area.

Many FTBer's could afford a house but why should they get a good education, decent job only to have to buy a place in a shitty council estate..

(I helped save b3ta! WOLF .™, Tue 20 Nov 2007, 12:30, archived)
# government statistics place the average age of a first time buyer at 37 these days...
most first time buyers can't afford to buy a property, that's the rub of it. Which is why mortgage companies were freely lending money to people well beyond their means, with promises that it'll 'be alright', just to continue the markets, and to freely rake in the interest without check. That's how this sudden rise in the last decade or so happened, unchecked business practices.
It's lending out money which technically doesn't exist, as it can't be accounted for when doing checks back against salaries.
Mortgage companies lend 'false' money out, people are able to bump up prices of houses accordingly with increased offers to get a foothold on the ladder. Estate Agents now see this trend, capatilise on it by taking the higher prices as an average to an area (thus increasing their profits) and you now get to this situation,

unaffordable homes on the market, which are unaffordable due to the existance of 'false' money and finance.

Those that do get on the ladder at this time have mainly done so on false finance which they can't account for now, so in come the credit cards, the loans, the homeowner loans, the consolidation packages, etc etc...

(I helped save b3ta! The Great Architect is still waiting for his account to be deleted on, Tue 20 Nov 2007, 12:41, archived)
# I got my house
aged 22. /glee

p.s. im only 25 now mind
(I helped save b3ta! DLT's Musical Bonanza is totting up the p, Tue 20 Nov 2007, 12:50, archived)
# the shits really going to hit the fan
when all the 2 & 5 yr fixed rate deals end...
all those people with crazy 4, 5 and 6 times multiples of borrowing will be well and truly stuffed....
(I helped save b3ta! WOLF .™, Tue 20 Nov 2007, 12:56, archived)
# I know of someone in London who was given 8 times their salary...
ludicrous :S

I think the shit is generally hitting the fan now at a low level, it's just going to be interesting to see how big the mess gets...
(I helped save b3ta! The Great Architect is still waiting for his account to be deleted on, Tue 20 Nov 2007, 12:59, archived)
# the thing is
if people are/were sensible then it's less of an issue. I/we borrowed what we were comfortable with at the time, and payrises and job changes have simply helped the situation get better - so much so that we could now afford to upgrade should we wish too.

If you want to live right in a city centre flat or in a 4 bedroom mansion then be prepared to pay the full whack for it. there are still some realistically priced houses in okay areas (I live in Bristol which is quite an expensive location).
(I helped save b3ta! DLT's Musical Bonanza is totting up the p, Tue 20 Nov 2007, 12:59, archived)
# you are assuming that the 'masses' are sensible there
there are a few of us who try and do the 'right thing' - however, there are also those who see others get away with thigns and think 'if they can, so can we' and they do not think about consequences.
More poeple spend time choosing and buying a car then choosing and buying a house.
(I helped save b3ta! The Great Architect is still waiting for his account to be deleted on, Tue 20 Nov 2007, 13:09, archived)
# Hmm
I'd have to say Bristol is dirt cheap... average house price is £221,159 where I live it's £425,662.

(I helped save b3ta! WOLF .™, Tue 20 Nov 2007, 13:47, archived)
# Who is your tax payer?
(Fuiru Sting, where is thy death?, Tue 20 Nov 2007, 13:19, archived)
# labour heartland my ass
it's the old boys money club
(I helped save b3ta! discomeats This canoe, Tue 20 Nov 2007, 12:09, archived)
# http://www.b3ta.com/board/7803258#post7803298
(I helped save b3ta! WOLF .™, Tue 20 Nov 2007, 12:10, archived)
# it's amazing how easily you can get into deep shit
and I didn't spend it on toys
(I helped save b3ta! discomeats This canoe, Tue 20 Nov 2007, 12:12, archived)