mathschoc

I feel where you are coming from. I am a single parent too, decent job and not been able to put a permanent roof over the kids heads yet. Pay packet has been squeezed for a decade. I will take any party over this current spineless, consultation obsessed lazy sh***.

Kaput? https://www.bbc.co.uk/news/amp/business-45360353

“True: it had a strong 2017, and there is something arbitrary about the definition of a recession (two successive quarters of contraction). But it is disappointing news nonetheless.” Read this on sky news, regarding manufacturing. Gave me the feeling that definition of a recession may be changed in future to ‘avoid a recession’. Haha

But we still have growth, that’s a boom woohoo let’s borrow like mad. 0.01 growth is still growth yay!! The govt are quite happy with it.

House of Fraser calls in administrators https://www.bbc.co.uk/news/business-45140874 How much longer is this “growth” charade going to continue!

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Accidentally repeated posts-sorry!

I had a chat with an ex colleague who is now working for an estate agent. He said they are receiving “lots of silly offers” at the moment, for example on a £450k house, (which was reduced from £500k) they received a number of offers around the 375k area. He said vendors wait for months and will eventually receive a “realistic offer”. This particular house one offer of £440 was eventually received and accepted. So I said “you eventually find a muppet then”, he kind of laughed it off. I was dead serious. When we run out of muppets who can get hold of cheap credit that’s when the tide will turn. So yes, people are putting in cheeky offers and from this sample of one agent it suggests you would be joining many others.

https://www.bbc.co.uk/news/business-44992836 UK pension companies may be harbouring billions of pounds of losses from home equity release loans, according to research seen by the BBC. Under equity release, homeowners borrow money against their house's value and don't repay anything until it's sold. That's fine for the borrower, but there are fears lenders have underestimated how much these loans could cost them. At least one firm assumes house prices will rise 4.25% a year. If they don't, firms face losses - or even bailouts.

If this was true, they would “attempt to reduce by 5%” and then call that a success. Tories are the party for boomers, that will not change.

This what I am seeing too, new builds with box rooms everywhere, signs for new developments also. In my town two spanking new large office builds have the signs “to let” on them, no takers. They were completed over a year ago. I did think about the Ireland effect too, I think we may well be heading in that direction.

https://www.thesun.co.uk/news/6939381/britains-2-5million-buy-to-let-landlords-could-face-stamp-duty-rate-hike-in-the-autumn-budget/amp/ It is the sun so little credibility, but a headline of Cry to Let

https://amp.theguardian.com/uk-news/2018/aug/04/super-rich-cash-in-london-property-prices-billionaire-bargains?__twitter_impression=true Super rich billionaires picking up bargains in London But at the very top of London’s so-called “super-prime” property market – properties valued at more than £10m – business has picked up. The number of prospective buyers registering interest in that top price bracket was up 7% on 2017 levels in the first three months of this year. Liam Bailey, Knight Frank’s head of research, said because sterling was relatively weak against other currencies, foreign buyers could make savings, with 60% of super-prime buyers coming from overseas, especially Europe, the Middle East, Russia and India. super stupid

https://news.sky.com/video/carney-interest-rates-rise-the-right-call-11457825 Carney suggests we would not be going back to rates of 5% Love crystal ball statements like that, always backfire.

Tick Tock

I have been making offers about 15% below asking, all as expected rejected so far. But one of the agents rang back a month later saying it had now been reduced to my offer price, to which I said my offer no longer applies as the market has plummeted further. I have no intention of buying yet, having fun providing the vendors/ agents realistic feedback. At this snail pace rate of a plunge, no idea when I will be in a position to buy, but I have plenty of patience.

Ta

Mark Carney will not raise rates more than once in a 12 month period. I will pee in my pants if he does.

I’m going to have a fit,

Every time I get that feeling it is always the opposite. I hope we get somewhat a realistic figure.

“Most people who invest in the U.K. do so fairly..” FFS, the f****ng politicians of this country will always want “investment” in f****ng property. How long has this taken since panama leaks, pathetic. Ban foreigners buying U.K. property, period.

I remember when Foxtons pretty much told me they were too posh for me when I was looking for a flat to rent. I walked in, clothes unironed but clean, hair unkept as the baby had kept me up during the night. A woman walked straight up to me and told me directly they have nothing in my price range, she wanted me out ASAP. Great, they are going down the pan, going to write them a letter to rub it in.

It allows for the large sum of cash as a deposit for the next bit of smack/house.

We definitely will see it, it’s the nature of cycles, they cannot be stopped. It is just a question of when.