Economy slowly improving

[tahsin]

I doubt it is improving, more people are unempoyed thanks to the politicans.

[I1L2T3]

A number of the initiatives proposed by Osborne are designed to increase social mobility. For instance assistance with mortgages, assistance with small businesses and business startups.

 

For this reason I cannot take seriously the assertions that the tories seek to advance the interests of the rich to the disadvantage of the poor. Where is the evidence of this?

 

I don't know how old you are but a little lesson in life for you. It's a lesson I will be teaching my kids.

 

Taking on masses of debt to purchase a property you still cannot realistically afford does not equal social mobility. It equals crass stupidity.

 

That's the morgage bit dealt with.

 

In terms of help for small businesses and startups anything is welcome. If it works!

[Hillpig]

I don't know how old you are but a little lesson in life for you. It's a lesson I will be teaching my kids.

 

Taking on masses of debt to purchase a property you still cannot realistically afford does not equal social mobility. It equals crass stupidity.

 

That's the morgage bit dealt with.

 

In terms of help for small businesses and startups anything is welcome. If it works!

 

I am 65, I bought my first house when i was 21, interest rates were about 10%. Over the years I have traded up and now have substantial equity in a paid for property.

 

When I downsize, I will have a substantial cash amount. This in addition to a private pension I have invested in will ensure a comfortable retirement.

 

Why should young people be denied today what I and those of my generation have benefitted from?

 

When I was 21 I came from what anyone would call a "working class" background. I have through good times and bad, worked hard, invested in my property and have become socially mobile to the extent that I would today be judged as middle class.

 

I am still the same person, but my standard of living would be unimaginable to my parents or grandparents.

 

"Taking on masses of debt" as long as you can pay for it is aspirational as the purpose is, in the long term, to improve your situation and station in life.

 

The Chancellors initiative is therefore, in my opinion a very good thing for those of us who do want to work hard, save and get on.

 

For those that do not choose to follow this road, fair enough, but do not carp and complain when those of us who do, are successfull and prosper.

[L00b]

"Taking on masses of debt" as long as you can pay for it is aspirational as the purpose is, in the long term, to improve your situation and station in life.

You seem to have overlooked a bit in I1L2T3's post:

Taking on masses of debt to purchase a property you still cannot realistically afford does not equal social mobility.

By the sounds of it, you bought and traded up over time, sufficiently carefully not to over-expose yourself - which is entirely commendable.

 

And I doubt I1L2T3 would have any problem with buyers who follow that approach (although I'm sure he will correct me, if not).

 

The issue is with buyers who aspire "too much too soon", and would sooner be up there with the Joneses at any price (e.g. a 100% mortgage obtained on the basis of made-up income level and a real income multiple (in terms of repayments) well above e.g. 5) and to hell with financial common sense, "I've got my bricks-&-mortar ATM to change the Audi and go on holidays overseas every year".

 

There were plenty of these on the run up to '08, and plenty have since been feeling the pinch more than they should because of it.

[I1L2T3]

I am 65, I bought my first house when i was 21, interest rates were about 10%. Over the years I have traded up and now have substantial equity in a paid for property.

 

When I downsize, I will have a substantial cash amount. This in addition to a private pension I have invested in will ensure a comfortable retirement.

 

Why should young people be denied today what I and those of my generation have benefitted from?

 

When I was 21 I came from what anyone would call a "working class" background. I have through good times and bad, worked hard, invested in my property and have become socially mobile to the extent that I would today be judged as middle class.

 

I am still the same person, but my standard of living would be unimaginable to my parents or grandparents.

 

"Taking on masses of debt" as long as you can pay for it is aspirational as the purpose is, in the long term, to improve your situation and station in life.

 

The Chancellors initiative is therefore, in my opinion a very good thing for those of us who do want to work hard, save and get on.

 

For those that do not choose to follow this road, fair enough, but do not carp and complain when those of us who do, are successfull and prosper.

 

I'm not carping and complaining. My situation I'd similar to yours. A comfortable virtually debt-free life basically because of when I was born. You're older thsne. You had it even easier still. And the thing you are failing to recognise is that all the advantages we enjoyed have gone. A madcap scheme to re-inflate the housing bubble can't make up for that.

[s2 blade]

I am 65, I bought my first house when i was 21, interest rates were about 10%. Over the years I have traded up and now have substantial equity in a paid for property.

 

When I downsize, I will have a substantial cash amount. This in addition to a private pension I have invested in will ensure a comfortable retirement.

 

Why should young people be denied today what I and those of my generation have benefitted from?

 

When I was 21 I came from what anyone would call a "working class" background. I have through good times and bad, worked hard, invested in my property and have become socially mobile to the extent that I would today be judged as middle class.

 

I am still the same person, but my standard of living would be unimaginable to my parents or grandparents.

 

"Taking on masses of debt" as long as you can pay for it is aspirational as the purpose is, in the long term, to improve your situation and station in life.

 

The Chancellors initiative is therefore, in my opinion a very good thing for those of us who do want to work hard, save and get on.

 

For those that do not choose to follow this road, fair enough, but do not carp and complain when those of us who do, are successfull and prosper.

 

Agree with every word and your the example of how it should be done in life .

Scroungers will never understand you and neither will any of the leftie fools on here .

 

---------- Post added 22-03-2013 at 09:46 ----------

 

I'm not carping and complaining. My situation I'd similar to yours. A comfortable virtually debt-free life basically because of when I was born. You're older thsne. You had it even easier still. And the thing you are failing to recognise is that all the advantages we enjoyed have gone. A madcap scheme to re-inflate the housing bubble can't make up for that.

 

 

The advantages you 2 guys may have gone ,however .... You must see the current government is the best hope we have of getting those days back .

[alchresearch]

Why should young people be denied today what I and those of my generation have benefitted from?

 

By the same logic lets all get some black slaves.

 

After all why should young people be denied today what a former generation benefited from?

 

The difference between this generation and the last is that our parents scrimped and saved and relied on cheap meals and hand-me-down furniture while they paid their mortgage and saved for a rainy day.

 

Now people are blinded with consumerism and feel that a home isn't enough, it must be kitted out with all new stuff throughout.

 

Houses are now out of the price range of many, but other things aren't (such as cars, computers, TVs and so on). Get over it.

[El Cid]

A number of the initiatives proposed by Osborne are designed to increase social mobility. For instance assistance with mortgages, assistance with small businesses and business startups.

 

For this reason I cannot take seriously the assertions that the tories seek to advance the interests of the rich to the disadvantage of the poor. Where is the evidence of this?

 

Are they Liberal Democrat policies ??

 

Keeping the housing bubble going may be good for the short term, but long term, the Government need to stop medalling in the housing market. They didnt want to have a nationalised bank, because it is better to leave banking to the people that (normally) do it best.

[Hillpig]

I dont think we are at odds, I fully agree that people should not over borrow, but as I understand it, the scheme that Osborne has outlined the government fund would only need to be paid back when he property was sold.

 

That being the case it seems a very good idea and it may be that it will help those wishing to get onto the "housing ladder" and start a resurgence within the building trade.

 

---------- Post added 22-03-2013 at 17:21 ----------

 

Sorry, dont mean to go on, but I am not bothered whether it is Lib Dem policy or anyone elses, if it works we should do it.

 

The sad thing about this whole suggestion is that some will not support it because it has been proposed by a Tory. The sight of Balls and the Labour front bench doing all they can to bring the policy down is frankly sickening.

[ricgem2002]

I am 65, I bought my first house when i was 21, interest rates were about 10%. Over the years I have traded up and now have substantial equity in a paid for property.

 

When I downsize, I will have a substantial cash amount. This in addition to a private pension I have invested in will ensure a comfortable retirement.

 

Why should young people be denied today what I and those of my generation have benefitted from?

 

When I was 21 I came from what anyone would call a "working class" background. I have through good times and bad, worked hard, invested in my property and have become socially mobile to the extent that I would today be judged as middle class.

 

I am still the same person, but my standard of living would be unimaginable to my parents or grandparents.

 

"Taking on masses of debt" as long as you can pay for it is aspirational as the purpose is, in the long term, to improve your situation and station in life.

 

The Chancellors initiative is therefore, in my opinion a very good thing for those of us who do want to work hard, save and get on.

 

For those that do not choose to follow this road, fair enough, but do not carp and complain when those of us who do, are successfull and prosper.

not bad for a security guard