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NuBrit

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  1. It's already happening though. The best value easy access interest rate will yield just 0.5%. CPI on the other hand is currently running at 2%. The oldies who predominantly keep their savings in cash are losing 1.5% a year in real terms.
  2. Yet the best value I can get on my savings is just 0.5%. It's a complete fiddle.
  3. Sorry, I know this was posted elsewhere, but I think it's worth its own thread. A 1% hike in national insurance to fund social care is incoming. This is just another wealth transfer tax on young working people to the elderly that exempts the landed asset owning elite who won't have to pay a penny. How is it a sustainable recovery when you keep gouging the most productive class of people in this country? https://www.thesun.co.uk/news/politics/15636214/national-insurance-hike-to-pay-for-social-care/
  4. The Conservatives have been in power for 11 years now, house prices have gone insane since. All government measures are actively interfering in the market with the intent of pushing prices higher. The Tories are the fat sow that devours its young.
  5. It's not just a regular ponzi scheme though. It's a state sponsored ponzi scheme that transfers wealth from the young to the old. All brought to you by Boris and his mates, with the great British public acting as cheerleaders for it all. Labour actually have a pretty decent proposal for dealing with the housing crisis (1 million council houses to be built over 10 years), but it'll never win an election. Far too many people have too much to lose from falling house prices. Therefore I see house prices just continuing to rise, in the short-term at least. The longer it all goes on though, the more likely we are to get something similar to the 2007 implosion of the market.
  6. Find it hard to have too much sympathy for those who may be affected by a reduction in the pension cap. Between pensions, ISA, and LISA's, the options for saving in this country are fantastic and very generous even if they are slightly reduced. Unless you have a crazy amount of income, then I most people who are threatening to hit the cap will have options to shuffle things around so that they still come out very well. I actually don't think the limit will even end up being cut anyway. At worst, they Daily Wailers will kick up enough of a fuss that it either doesn't happen, or will be watered down/pushed out.
  7. The market is definitely on fire at the moment, I see so much retail at the moment with help wanted signs in the window. At the higher end, it looks like IT in particular has went crazy. Experienced developers contracting in London on £700-800 a day.
  8. Savings bonds do exist in Ireland, there's a lot of options, but don't expect rates to be any better than here https://www.askaboutmoney.com/threads/term-deposits-fixed-lump-sum-savings.101813/ I don't think it's a very good idea for someone on a basic UK state pension to retire in Ireland. The cost of living in Ireland is a little more expensive than the UK, and the UK state pension is quite a bit lower the Irish equivalent. You also have to pay for GP visits, something to bear in mind as you get older. Not saying it can't be done, but I think you'd want to either have a lot of money already, or be very frugal.
  9. 40 year mortgages are the work of the devil. Sure, your monthly payment looks lower, but as you start to increase the mortgage term, the amount of interest paid on the mortgage balloons. monthly payment total interest paid capital repaid after 5 yrs 25 years £528 £58,284 £12,902 30 years £477 £71,788 £9,558 35 year £443 £85,867 £7,261 40 years £418 £100,491 £5,614
  10. At least Keir Starmer gets it. All this fiddling in the house market only pushes prices up.
  11. 95% mortgages, stamp duty tax relief. It's almost like they don't want house prices to go down 🤣
  12. The recriminations will begin now. There's a huge volume of dumb retail money that bought into this at $300. These guys balls are in a vice now as the price will start falling as everyone realises the pump and dump is over with.
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