dances with sheeple
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Posts posted by dances with sheeple
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"Ain"t no legal drama in the W*ank bank!"
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2 minutes ago, dances with sheeple said:1 hour ago, Wampus Cat said:
BBC piece about the insane rise in service charges in the capital.
In the example they quote, the charge exceeds the rent on a 60% share. The 'owners' can't do anything about it, but they also can't sell as the property 'is no longer desirable due to the service charge'.
https://www.bbc.co.uk/news/articles/ckkvkv32e1ro
In the article, owner Patrick Duffy says: 'as a Gay man I love being sucked dry, but not like this'.
Looks like my link got lost, I will try again. I would not expect that to be printed in a bbc article, but this bbc Scotland show was shocking in that the bbc showed this - starts at 9,25 and the weird (for the bbc) bit is at 12.29
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1 hour ago, Wampus Cat said:
BBC piece about the insane rise in service charges in the capital.
In the example they quote, the charge exceeds the rent on a 60% share. The 'owners' can't do anything about it, but they also can't sell as the property 'is no longer desirable due to the service charge'.
https://www.bbc.co.uk/news/articles/ckkvkv32e1ro
In the article, owner Patrick Duffy says: 'as a Gay man I love being sucked dry, but not like this'.
I doubt he says that in a bbc article, BUT I was actually shocked to see this on bbc Scotland...starts at 9.32 and the slightly weird (for the bbc) moment is at 12.28.
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11 minutes ago, dances with sheeple said:
Yes, they trot that out a lot, but more people on MN now are just coming out with "It"s the price", "rates went up you can"t get that price anymore" etc. very interesting because that site gets a LOT of views.
For example here, where they talk about withdrawing the link on the last page of the thread and online views going from about 64 a day to over 20k in one day after they posted the link on MN.
https://www.mumsnet.com/talk/property/5027481-judge-my-rightmove-listing-please-no-viewings?page=16
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On 22/02/2024 at 15:12, Tony_Teacake said:
According to the house price bulls these hikes are manageable because of all of the stress testing.
Yes, they trot that out a lot, but more people on MN now are just coming out with "It"s the price", "rates went up you can"t get that price anymore" etc. very interesting because that site gets a LOT of views.
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On 12/03/2024 at 10:26, Bear Necessities said:
They are trying to write it in the style of John Crace (?) who usually writes these comedy pieces (which are usually very tongue in cheek and poke fun at all sides), but I think he had a heart attack last week so someone else is having a go (and failing)
Yes, they are just rambling nonsense it sounds like.
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4 hours ago, Dyson Fury said:
The Guardian Sneerocracy on top form:
https://www.theguardian.com/politics/2024/mar/11/lee-anderson-reform-party
Really, what tiny, closed minds people like Zoe Williams have. Completely unable to engage with any opposing views, to discuss or debate with them. All they know how to do is sneer.
"until he had a working Meccano vehicle made of hate"
Pardon? LOL, what drugs is this person on?
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44 minutes ago, shlomo said:
If property prices keep falling they will have a banking crisis
Any global knock on effects?
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On 16/02/2024 at 05:47, jiltedjen said:
Yes very true.
plus I read something interesting on compounding also.
basically for the first 5 years your better off in cash earning interest on your savings that way, say getting 5% in a risk free bog standing bank saving account. With a rough real return of say 2% after inflation.
with dividend shares, initially you may underperform inflation and the bog standard savings account for the first 5 years, but after that point with the compounding on dividends on about the 6th year you match that years performance in the bog standard savings account, then from that point onwards you start to pull ahead, to the point that in 10-20 tears time, the same dividend share you bought has a real return closer to 30-40% per year on your initial investment.
I suppose in that sense, not only do you get tempted by cars on finance, or just lifestyle inflation, but also can easily get disheartened after 3-4 years of lower returns until the dividend approach takes off seriously. being that bog standard savings accounts can become a honey trap, and you never actually get into the wealthy accelerating phase, you just tread water doing the short term ‘right thing’ for the rest of your life.
I find having to make yourself blind to the daily price movements and just concentrate on how many shares you own and what income that buys you. shares going up is a bad thing as you need to accumulate more, the value of your shares falling doesn’t really matter proving you keep the income (and you buy long lived stable low risk profitable companies).
another factor holding most people back, is priorities, it does make sense (when considering risk) to pay the mortgage off, which for most people leaves them well into their 50’s before they can save, at which point then are already heading into the risky health conditions valley of death, and sick of work, so then being exposed to shares on the promise of ‘jam tomorrow’ or in dividend shares approach way, jam in 20 years, that’s just not going to cut it, especially when compared to bog standard savings accounts.
equally most people want a quick return as they want reward for paying off the mortgage, and working for soo many years, but there is no quick return and ruin could lie down that path (for example bubble tech shares).
equally when listening to wealthy people who bang on about ‘start saving as early as possible from your 20s’ I feel like they are fully blind to the realities of life for the young these days, saving money when your hemorrhaging wages to rent or mortgage payments, or general cost of living, just doesn’t make sense, I personally didn’t really manage to save anything and be ‘back in the black’ until very late 20’s and that’s with a professional job and being frugal, let alone the average bloke making more normal life choices.
I guess most people just won’t make the choice to face the situation and instead demand political change until they can vote themselves rich, via HPI? I guess? Or generational payments of some sort.
maybe some will just give up when facing working well into their 70’s, end up selling up and seeing themselves as ‘councils problem’ when they run out of money in retirement, perhaps find other darker ways out.
I suspect we will get some kind of ‘new deal’ coming, where it’s laid out what we can actually expect, and work to those conditions.
A lot of people would love to work into their 70`s, depends if you enjoy it or not I suppose, your points about time in the market etc. are interesting but there is also the chance of making the right call on a stock that takes off big time and gives you very big share price and dividend gains, that could happen any time any day no matter what age you are, as long as you are putting in the research of course, I think you should attack it from all directions 1) Start young (time in the market) 2) Be constantly learning, researching and developing your emotional approach to investing (more chance of finding a really good stock or investment idea that pays out big at any age, most people just putting money into their pension every month are not equipped to be aware of investments this way, they barely understand how their pension works) and 3) Just switch off the notions about age and life chances etc. that society seems to promote (the guff SKY news etc. bleat about) keep healthy and mentally alert and create your own ideas and life opportunities.
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2 hours ago, desiringonlychild said:
The elite have a lot of money and want to lend it out and earn interest. So they crank up mortgage borrowing. People can borrow 5 times income with 99% mortgage. That drives up house prices.
Elites invest in build to rent companies or own shares in reits. They buy up boomers housing stovk as boomers need money for care home fees and medical treatments.
They win on both ends. The average person cannot buy without money from mum or dad or must take on a massive mortgage (and they own maybe 10% of the property by the time in their 40s where in previous generations they would be mortgage free or at least halfway through).
The "elite" are getting badly burned on CRE, they won`t make the same mistake with residential, it is far better for them if the masses have spare money to spend, that inflates stock portfolios and dividends, the best way to have the masses spending now that the cheap debt is gone is a HPC to free up spare money for the economy.
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On 11/02/2024 at 18:36, jiltedjen said:
not financial advise0.29% ongoing fees although it doesn’t sound like that much, if average yield is something like 4% then 0.29% fee is a fair chunk of yield/profit handed to fund managers.
if you have enough money you can buy individual stocks and diversify yourself without paying the fee. And you can still mirror what’s in the fund anyway (meaning effectively 0.29% boost in your return compared to the fund)
equally if you avoid the absolute dogs of shares it’s fairly easy to beat the 4% return and do better on your own.
HOWEVER it’s more complicated than that, as human factors are in play also, equally there is nothing to say that your own personal portfolio build up (minus what you think are dogs) will do better or worse than the vanguard fund.
equally it’s expensive buying allocations in hundreds of companies at reasonable amounts (to neuter trading fees).
There are plenty of shares which pay dividends, which themselves are tied to bubble industries etc.
but proving you invest in ‘dividend kings’ or ‘dividend aristocrats’ you should be fairly safe.
plus who’s to say tech stocks don’t carry on for the next 10 years? who’s to say the peak is in?
for me I have over 40 years ahead of me to invest £500-£1500 in my S&S ISA each month, so building a massive fund of hundreds of shares is viable, and I have time for dividends to compound into a huge money feedback loop.
they say the first £100k is 25% the way to your first mil due to the nature of compounding.
if your say 50 and can only invest less each month, then the fees may not be a huge deal, and it’s worth the ‘cost of diversification’
depending where you are in life also depends on how much risk you should be taking on, how many business cycles do you have to go through?
personally I want a decent dividend paying base, then use the dividends as eventual ‘free money’ to then buy ‘free bets’ on riskier shares.
plus dividends can help you maintain periods outside of work without having to sell down positions.
personally I see dividends as ‘buying a wage’ or ‘buying a rise’, and each purchase in enough time will become ‘free’ as it eventually pays me back.
i look at average income per month it buys me, and what it eventually will mean through compounding.
i have the state retirement age firmly in my head of 75 for me (in many decades to come) so i see the income I’m buying as giving me the ability to retire early without having to rely on either my state pension or even my private pension (which itself I probably can’t access until 65).
by owning companies that make profits your not beholden to governments that much, who for sure will do all they can to keep even your own private pension out of reach to keep you working and paying taxes.
S&S ISA paying dividends is the only way to buy quality healthy years without having to work for the average man.
plus dividend paying shares will become mighty expensive in say 20 years time when the reality of working until you die at your desk breaks through peoples minds. thus the yields now are much more attractive than they will be in the future.
Interesting thoughts, not sure the masses will be any more awake though in the next 20 years TBH, if anything they are more asleep now, and people were grafting a lot harder decades ago (no WFH at anything like the scale the internet allows) and still didn`t wake up to the magic of dividends on a massive scale? (outside their pension that is) I think most people want gratification now, they want the holiday, the car etc. the magic of dividends and compounding doesn`t excite the masses like a credit card and instant access to cash does?
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5 minutes ago, Stewy said:
I don't get headaches but that was me this morning - it took about 90 minutes to get a small meal down.
Drinking gets boring quite quickly really. I don't know how people can drink every day.
I`m talking two and a half days to be able to take anything in other than more alcohol to ease the pain, although it would be many many years since I personally have been in that state...........
I could handle a drink every night (Never have a drink in your hand while there is still light in the sky, as a character in a Stephen King (ex serious drinker and drug user) novel once said.......no idea if he made that up or if that is a common saying?) as in a couple of whiskeys or a large glass of wine, or maybe a can of beer, but getting tanked up every day is a short cut to physical and mental health problems IMO.
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On 09/02/2024 at 17:47, TenYearToGetMyMoneyBack said:
When first introduced I read a comment on the BBC Have Your Say about "Evil Nichola Sturgeon depriving Jock of his one little pleasure". To me the comment sounded really pathetic, implying that the one pleasure in life was getting blind drunk.
The real pleasure is sobering up, losing the headache and being able to hold down food again.
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17 minutes ago, jiltedjen said:
Historically it swings between American outperformance to rest of world out performance
think plenty are suffering from a recency bias ploughing money into the US market.
yeah sure momentum trading can also work, but depends where we are in that cycle - no-one really knows.
hearing lots of stories of people who should be de-risking their pensions/portfolios deciding to stay 100% in stocks, exposing themselves to potential large losses without time to re-coup.
my view is holding shares in profitable companies which pay a dividend tend to recover more quickly from crashes. tech stocks which don’t generate enough profit to justify stock prices don’t seem like a long term smart move.
Anybody got any views on this?
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1 hour ago, Stewy said:
Although my commute is only an hour, I've chosen to stay midweek in Travelodges - they've started to drop below £30 now.
That`s interesting because not long ago they were silly prices, 200 quid a night in Skegness etc. at the weekend, my take is that because a lot of traveling trades types use them this indicates a fast slowing economy.
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27 minutes ago, hotblack42 said:
Had lunch in a good pub today. The 4 of us were the only ones eating. 2 or 3 drinkers came & went. 12:30 to 14:30. That’s not sustainable.
Also just booked a double room in a solid 3* Kensington hotel next Thursday. £60. It’s half term next week.
Incessant glum reporting on R5’s wake up to money about hospitality since Christmas.
It’s good for the environment though.
That`s cheap, Travelodge will be hitting a tenner a night soon.
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4 hours ago, Stewy said:
Help To Rent will soon fix this... 🙄
Is that when young people go home to mum and dad, help to rent for free?
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45 minutes ago, The Angry Capitalist said:
Yep.
Discretionary spending is going to fall off a cliff.
Tech sector and people in marketing/advertising are going to suffer the most along with restaurant and pub industry.
Industries connected to housing such as builders, carpenters, plasterers, estate agents, furniture stores, carpet stores and Painters & decorators are also going to see work dry up.
Already seeing posts on social media of traders with 20 years experience + claiming they have never seen demand for their services this bad.
Many including the politicians (and the BOE) are going to be completely unprepared for what is coming.
Many will be younger, maybe renting or recent mortgage, many will end up back at parents IMO, and they will be partying and travelling less so double whammy on BTL/AirBnB?
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1 hour ago, HousePriceTooHigh said:
It is kind of nuts that min wage will be 23-24k full time this coming tax year.... And yet plenty of jobs requiring qualifications, a degree, whatever barely pay much more than that
If I was some fresh uni grad at -50k net worth and my grad job was 25k i'd be fuming…........
Borrowing 50k to go to "Uni" was always going to end in tears, there are far too many people at Uni, it is absurd and not even funny any more, the young are being conned on all fronts now.
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2 hours ago, Stewy said:
I got made redundant...finished on a Friday...new job for 12% (20k) more started the following Monday.
It's booming for the right people in the right place. ✓✓✓
MPC rate setter? Remember you only get one vote......
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1 minute ago, Nick Cash said:
Absolutely.
One certainly fits that narrative having spent much of school life trying to be top dog in CCF. The other not, she by contrast is intelligent enough to be given an offer from Oxford. Surprised many by her decision.
I think there will be a huge demand for those youngsters who can successfully play online war games. Particularly those that are collaborative.
Problem will be when they get captured, they won`t have the social skills to get on the good side of their captor, or maybe the captor will be a gamer as well so it might work out OK? Would have thought someone potentially going to Oxford would have their eyes on a banking job or similar high pay? Not sure how easy those jobs are to get now for graduates though.
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48 minutes ago, markyh said:
So just wait for invasion then? Would they fight if invaded? Or happily offer up their Mums and sisters to be raped by occupying Russian Troops.
Nukes are no help , if both sides involved have them, as neither can use them.
This is interesting, looks like they stopped people who had done basic training holding guns AND ammo at their home in 2007, they now keep a gun and go to a designated ammo collection point in an emergency,the idea of a militia force ready to pour out onto the streets if invaded is quite powerful, but the government need to trust the people.......never going to happen in the UK?
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15 hours ago, Trampa501 said:
Interesting angle. Go back a couple of hundred years and it was commonplace for despots to reward their armies with land after successful campaigns. A modern equivalent perhaps being a Barratts house in Halifax?
I suppose forces, RAF and Army anyway have always provided "married quarters" and suchlike, I know RAF with wife/family on long postings got basically a free house on an estate that you would be mortgaged up for 25 years to buy now.
Monthly service charges on London shared ownership going up - £94 in 2017 to £646 in 2024
in House prices and the economy
Posted · Edited by dances with sheeple
How did that get out on the bbc?