No6

I think in 6 months time the BOE decision to drop rates will be seen as being very silly indeed. I can only think they did it to have a psychological effect, given all the VI pressure. Think of the reaction when rates start to go up again either later this year or early next, especially as some seem to think that we are now in a cycle of reducing rates. Perhaps it's a unicycle?

Not one mention of inflation in this article by Gabriel Rozenberg, Economics Reporter, TimesOnLine. http://business.timesonline.co.uk/article/...1716412,00.html "Rates began rising from an historic low of 3.5 per cent in November 2003 and have been on hold since reaching 4.75 per cent exactly a year ago." She forgets that "official" inflation went up from 1.2 to 2.0% over the same period. Hardly a success storey in controlling inflation and now we embark on a rate cutting cycle? They will be telling us $20 a barrel oil is just around the corner next. The UK media seems to have forgotton about inflation as a factor in the IR decision making process.

If it was Elle Macpherson I'd care. As it isn't, don't give a t-ss.

I think you missed the higher inflation bit. You need to go back to the hills and look for some real logic I'm afraid.

And just where are the big spending Russians when you need them?

Should we expect anything else from the banks? ING are still heavily advertising 5.00%. Internet ads all over the place for this and in Sunday's papers advertised at 5.00% even though they made the decision to cut to 4.75% last week.

I looked at First Direct but didn't like this from their ad; instant access to your money (although no interest is paid in any month you make a withdrawal). So, does that mean that if you withdraw any amount you get no interest on the total amount in the account for a whole month?

Latest Land Registry figures. Is this disgusting or what? But it is on only 289 sales in the whole quarter (411 in previous qt, 625 the qt before that). Prices are going up only because the mid to top end is selling some overpriced cr-p which is actually probably well down on a year ago, helps pump up the "average" price. Dead as a dodo otherwise. Oxford Average Cost: £300,499 Detached: £471,815 Semi-detached: £279,910 Terraced: £310,214 Flat: £207,936 Change in last quarter: 6.8% Change in last year: 9.7% Sales: 289

Sorry - this phone in is on right now.

http://www.talksport.net/schedule

Brown's FTB scheme and help like this. Up for it? DIRECTOR OF CORPORATE SERVICES Council Offices, King George V Road, Amersham, Bucks. £64406 - £70831 + £4800 Car Cash + c.£600 Committee Attendance + Up to 8% Performance Related Pay + Up to £5000 Removal Expenses + £80K Assistance with housing Reference: LG 30001 Council Offices, King George V Road, Amersham, Bucks. 37 hours per week. Closing Date 7 June 2005 At Chiltern DC we already have a strong team and a high-performance ethos. Our Excellent CPA assessment summed us up as a "Can Do" council, with a lean staff structure, which delivers quality, cost-effective services. Would you enjoy a change to Chiltern? We would welcome your interest in our vacancy if today you are: "A capable and effective leader and manager, with a record of success in delivering cross-service projects and organisational change "Committed to public service, demonstrated in your experience to date, which could be in Local Government, the Health Service or elsewhere "Equipped with the political sensitivity and interpersonal skills to operate credibly at a senior level "CIPFA qualified (or equivalent) As what you want to be tomorrow, we can discuss that at interview. We have a comprehensive pack of information, available on line or by post. For an application form and further details contact: Personnel Division, Chiltern District Council, King George V Road, Amersham, Bucks, HP6 5AW. Tel: (01494) 732155 (24 hours) or visit our Website at www.chiltern.gov.uk By the way, the Council is Tory, with money to burn no doubt. 2005 County Council Elections 5 May 2005 57 results Conservative 44 Green 0 Independent 0 Labour 2 Liberal Democrat 11 UK Independence Party

Because if they did this, when the bubble has been inflated further and FTB's are priced out again, they wouldn't be able to offer 25% you pay, 75% from the govt and VI's, and then when it's inflated further, 10% you pay, 90% Govt and VI's, all the way up to 1% you pay, 99% Govt and VI's and the total sinking of the economy. But at least average house prices will be in the millions by then.

This is from the BBC's report. I wonder if they realise what they are actually saying? The final paragraph says it all. Selling chains The move comes amid signs of a gradual slowdown in the housing market, with recent figures showing house sales in London at their lowest levels in a decade. The plans reflect government concerns not only over the frustration of first-time buyers, but over the effect on existing householders. If new buyers cannot enter the market, selling chains will eventually grind to a halt, potentially bursting the bubble for millions more whose fortunes rely on rising property values. http://news.bbc.co.uk/1/hi/uk_politics/4570045.stm

There are some priceless gems here. http://www.weluvkirstie.com "Kirstie Allsopp (30) presents Channel 4 house-hunting programme "Location, Location, Location" (also known as "Location, Location, Location Revisited") with surveyor and co-presenter Phil Spencer. The show's pilot programme first aired in 2001 and there have been several very successful series so far. When she's not filming the show, Kirstie is a property search agent in Central London. She opened a property search company, Allsopp & Churchill, because she couldn't bear the thought of becoming an estate agent. She thinks of London property firms as being "cheerless places run by grey men in grey suits". Her job is to search for suitable properties for people who can't do it themselves. Kirstie lives in a one-bedroomed flat in West London. She bought the flat six years ago for around £189,000 but it is now worth around £350,000. She is single and lives with her dog, Foxy. Kirstie says: 'I was lucky to get on the property ladder when I was 21 because my parents lent me money. Otherwise, with my £11,000 salary, I'd have never been able to afford the mortgage. Sadly, I lost the chance to make £40,000 on it. It was a two-bed flat in Battersea in South London I'd bought for £72,500 in 1992 and I sold it just before the market boomed six years ago for £100,000. If I'd waited six months . . . but that's what property is all about. I moved from there to a flat in Ladbroke Grove for £89,000, did it up and sold it four months later for £114,000. From that property I moved into my present flat which I bought because of its development potential. Originally, it was a pokey two-bedroom property, so I converted it into a one-bedroom - which instantly increased its value. I wanted good entertaining space, a garden for Foxy and the ability to expand within it. I've built over the side return and put an office in the garden.'

Now, why would you want to do that to someone who is so clearly well respected? http://news.independent.co.uk/uk/politics/...sp?story=630871

What colour did you paint your house, and how much value did that add? I'm guessing pink?

Yes, it's priced £2.75 this month, £3.00 next, then £3.25 in June, after the Spring bounce of course, etc, etc......

Does this count even if it's the US Dollar?

That's a good one.

Well, you could try Kabul, Afghanistan. Those Americans really know how to get things moving. http://www.db.idpproject.org/Sites/IdpProj...1256C3F0031FC1C

And the events of 9/11 closed the markets which limited the panic when they finally re-opened. Sept. 11-14, 2001 (Tues.-Fri.) Closed as a result of an attack on the World Trade Center. Remained closed for a total of four days. Oct. 27, 1997 (Mon) DJIA dropped 350 points, triggering a mandated trading halt for the first time that closed the market at 2:35 pm for a half hour. Trading resumed at 3:05 pm and the DJIA declined an additional 200 points, causing another halt at 3:30 pm that ended trading for the day. Oct. 23-30, 1987 (Fri-Fri) Shortened hours following market break of Oct. 19 and record breaking volume --2:00 pm close. http://www.nyse.com/Frameset.html?displayP...2221392381.html

Only a 3 day, 350 point loss at the moment. http://www.marketwatch.com/news/default.as...=seen&dist=ctmw

These are very important points in the scenario that is likely to play out in the years ahead.

I wasn't being critical. You made a good decision at the time and doing the right thing now. Where I live, a modest 3 bed Victorian mid terrace will put you back about 12x salary if you are on the average salary. New paradigm thinking would say that 4x is now justified or is it 7x, I lose track depending on which day of the week the VI's are bullsh-tting us on.

Well, we stole Christmas and Easter from the pagans, so I'm sure we will have no problem finding another religious festival ripe for hijacking.