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Housing market

farfromthesun said:
Apart from mortgages, credit cards, or loans - what was there back then that was so easily available and enticing as the myriad schemes that are around today? HP cars, Klarna, Buy Now Pay later and all that stuff...if it had existed, people would have used it. The notion (and I am not suggesting it is your notion) that people were more frugal or financially responsible back then was likely a lot to do with the fact that these schemes simply did not exist.
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Littlewoods catalogue!! I'm not even that old and I remember most of my mates rented their TV and VCR, it probably cost them three times the price of it with how long they had it.
 
matt j said:
Littlewoods catalogue!! I'm not even that old and I remember most of my mates rented their TV and VCR, it probably cost them three times the price of it with how long they had it.
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Of course! Now Radio Rentals springs to mind, though that seemed to be the de-facto way of having a TV in the house. Generally speaking, being born in the late 70's, I'm probably too young to be commenting on this stuff.
 
farfromthesun said:
Apart from mortgages, credit cards, or loans - what was there back then that was so easily available and enticing as the myriad schemes that are around today? HP cars, Klarna, Buy Now Pay later and all that stuff...if it had existed, people would have used it. The notion (and I am not suggesting it is your notion) that people were more frugal or financially responsible back then was likely a lot to do with the fact that these schemes simply did not exist.
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Really?
Granada tv and VCR rentals
Twin tub Washing machine rental

These were all around in the 70s and 80s.
 
mandryka said:
House purchases are sizeable long term investments, not a way to get rich quick. I guess that what will happen is that interest rates will fall and in 2024 they will be very low again. House prices will fall and in 2024 they will start to rise again.

Crisis. What crisis? Some figure I saw said that mortgage payments will increase for the average family by £5k a year. That's the same as the average spend on a two week holiday and only slightly more than the average spend on cars. So, they'll go to Blackpool instead of Mallorca and they'll keep the old banger a bit longer. BTL landlords will just increase the rent a bit and make a bit less profit -- BTL is a business, like all businesses there's feast and famine. This is not a crisis, it's just a time to tighten the belt.



The election will be at the end of 2024. By that time house prices will be on the up again and interest rates will be coming down. There will be tax cuts. Sunak will present himself as the man who got Britain back on the rails. A safe pair of hands.
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Median savings for the UK is 180UKP/ month, 5K will hammer finances.
 
In yesterday's paper, 'Landlords sell up at record rate'. One in six homes sold so far this year was a rental property, with a greater exodus in London, as expected. A fifth of buyers were first timers, a third to other landlords and the rest to existing property owners (moving).

5 years ago, rental prop's advertised in October were 339516. This October, 214938.

Okay, the balance of people to property remains similar but the available prop'y to rent has dropped alarmingly. I'd imagine that the numbers of those seeking to rent has also grown considerably in 5 years.
 
Bob McC said:
Really?
Granada tv and VCR rentals
Twin tub Washing machine rental

These were all around in the 70s and 80s.
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And the Jeff Beck song 'Tallyman' was even earlier:

'To our house on a friday
A man calls every week
We give and we get
And we're always in debt'

And in a detective story, published in 1954, the main character comments on how 'people these days' buy everything on credit.

Going back a century further, Dickens created the Veneerings:

'Mr and Mrs Veneering were bran-new people in a bran-new house in a bran-new quarter of London. Everything about the Veneerings was spick and span new. All their furniture was new, all their friends were new, all their servants were new, their plate was new, their carriage was new, their harness was new, their horses were new, their pictures were new, they themselves were new, they were as newly married as was lawfully compatible with their having a bran-new baby, and if they had set up a great-grandfather, he would have come home in matting from the Pantechnicon, without a scratch upon him, French polished to the crown of his head.

For, in the Veneering establishment, from the hall-chairs with the new coat of arms, to the grand pianoforte with the new action, and upstairs again to the new fire-escape, all things were in a state of high varnish and polish.'

SPOILER ALERT: All their apparent wealth is illusory, and they become bankrupt.
 
Bob McC said:
Really?
Granada tv rentals
Twin tub Washing machine rental

These were all around in the 70s and 80s.
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Yep, later than that too. Mid 90’s in my first flat share, we had a rented TV, video and washing machine. Now the ‘recycling centres’ have container fulls of flat screen TV’s which people can’t give away.
 
Mike Reed said:
In yesterday's paper, 'Landlords sell up at record rate'. One in six homes sold so far this year was a rental property, with a greater exodus in London, as expected. A fifth of buyers were first timers, a third to other landlords and the rest to existing property owners (moving).

5 years ago, rental prop's advertised in October were 339516. This October, 214938.

Okay, the balance of people to property remains similar but the available prop'y to rent has dropped alarmingly. I'd imagine that the numbers of those seeking to rent has also grown considerably in 5 years.
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Could be an ever faster exodus if the chancellor gives notice of increased CGT on second homes / BTL. That’s if they can find buyers of course…
 
Joe Hutch said:
And the Jeff Beck song 'Tallyman' was even earlier:

'To our house on a friday
A man calls every week
We give and we get
And we're always in debt'

And in a detective story, published in 1954, the main character comments on how 'people these days' buy everything on credit.

Going back a century further, Dickens created the Veneerings:

'Mr and Mrs Veneering were bran-new people in a bran-new house in a bran-new quarter of London. Everything about the Veneerings was spick and span new. All their furniture was new, all their friends were new, all their servants were new, their plate was new, their carriage was new, their harness was new, their horses were new, their pictures were new, they themselves were new, they were as newly married as was lawfully compatible with their having a bran-new baby, and if they had set up a great-grandfather, he would have come home in matting from the Pantechnicon, without a scratch upon him, French polished to the crown of his head.

For, in the Veneering establishment, from the hall-chairs with the new coat of arms, to the grand pianoforte with the new action, and upstairs again to the new fire-escape, all things were in a state of high varnish and polish.'

SPOILER ALERT: All their apparent wealth is illusory, and they become bankrupt.
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Some folk have to have everything brand new- car, house, furniture and so on. The idea of parking their derrière on something ‘strangers’ have had theirs on is inconceivable. I’ve a couple of chairs so old, the odds are a number of people have shuffled off this mortal coil while seated in them- one possibly with a crossbow bolt through them judging by the appearance of the woodwork.

I’d draw the line at mattresses though. Mind you back in the day they simply used to be jute sacking filled with dried bracken on top of tight ropes and you could just replace the filling in the event of untoward episodes.
 
My in-laws are like that, with the result that their house is like a well-appointed hotel suite, with everything shiny new and colour-coordinated. (We are the 'shabby chic' type, though far more shabby than chic).
 
My bed has been taken apart so many times now that I could barely get it back together after this last move. I think it is on borrowed time. Most of my furniture was cheap crap 20 years ago...

The "Tallyman" had a different name around here my dad was telling me and it shares it with a racial slur that I can't remember, not very nice coincidence.
 
TVs used to be fairly unreliable. Buying used was very risky, and buying new was prohibitively expensive for most of us. £400 each for telly and VCR springs to mind around 1982 ish. A month’s take home for a lot of people back then.
 
My parents had rented TV's back in the 1960s, that was really common. For a while we even rented pictures from the local library to hang on the wall. Seemed slightly odd even then.

The man from the Pru' came round to personally collect insurance premiums, certainly well into the 70s that was happening.

I had a rented CD player too in the 90s.
 
farfromthesun said:
Apart from mortgages, credit cards, or loans - what was there back then that was so easily available and enticing as the myriad schemes that are around today? HP cars, Klarna, Buy Now Pay later and all that stuff...if it had existed, people would have used it. The notion (and I am not suggesting it is your notion) that people were more frugal or financially responsible back then was likely a lot to do with the fact that these schemes simply did not exist.
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Agree 100%. Even debit cards didn't exist, we used cheque books and always knew how much money we had. Once the tories made going into debt much easier the downward spiral kicked off.
 
martin clark said:
I've been playing Cassandra to younger colleagues for the last couple of years on this. Brings me no pleasure to see the actual trends, now baked-in due to rampant idiocy.

And re - various reporting of 'there may be a recession coming' NO. Its been baked-in, and here, and observable in last 5months + if you work in anything allied with Construction. I can post graphs if asked. And that is a shite state of affairs because - while Construction - and everything allied, professions and suppliers - is always the first to fall over the cliff: £ 1 spent on it in the UK, is £3.50 of wider economic activity generated, wholly within the UK.

tl;dr: We've ...lost one of our largest remaining engines.

you know - remaining after than that self-inflicted Brexit utter ****ing idiocy. which has also significantly contributed to present issues in construction uk.
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We need a properly thought out national house building, a joined up road and cycle building programme programme as a basic start. Won't happen though, too many are happy with the tories.
 
Ponty said:
Could be an ever faster exodus if the chancellor gives notice of increased CGT on second homes / BTL. That’s if they can find buyers of course…
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all i can find is they are thinking of changing the higher rate from 28% to 40% . Is there any more info on how it might affect basic rate tax payers

Of course one good thing is charities might benefit as giving gift aid can drop you below the higher rate tax threshold .

One year i remonstrated with my wife that she gave too much to charity as she is exeedingly generous ...that year i got a massive tax demand and she did not proving the tax benefits of generosity .
 
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