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babesagainstmachines

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Everything posted by babesagainstmachines

  1. Google naivete please No, I'm not talking about the estate agent...
  2. I'm no expert by any stretch of the imagination, but going by lots of what I have read and a bit of common sense (which may or may not be applicable) we actually have a global credit bubble. This matches the massive house price inflation which has been going on worldwide. Some of this will make it's way into stocks. In a global credit crunch, the majority of stocks will suffer, since all the oversupply of money has to deflate. The utlimate conclusion, assuming there won't be a worldwide financial meltdown, is that cash is king, diversified into several currencies?
  3. Exactly who are the first time buyers going to be when there are no sub-prime mortgages being sold and no BTL coming to market anymore? The simple fact is property is unafforable at current prices so prices will come down.
  4. According to who? How long does it take to sell a house once an offer has been accepted? How long ago was the run on Northern Rock? How long does a seller typically sit on a property before they accept that it's overpriced? It will be obvious to everyone there is a crash on by Christmas.... probably
  5. If he is right, we're all ****ed so I wouldn't worry. You'll be able to spot it soon enough and buy some guns though I completed my STR a few weeks ago and am just opening accounts etc to stash the booty. If you're anything like me, it's a bit nerve wracking, even though you think you've done the right thing. Even paying the cheque in was scary...
  6. It's a falling market, and you want to double your exposure to it by owning two properties?
  7. Vote for a sensible independant who shares your life views. If there isn't one, stand yourself.
  8. The smoking ban politicized me. From a financial perspective, it makes no sense to stop your population from smoking, but there are far greater political rewards to be had down the line I think. When the EU and member governments can proclaim that average life expectancy has increased by 2 years purely as a result of the smoking ban, the sheeple will rejoice and praise the Party.
  9. This one made me laugh... He's expecting 4% rise in his house price. Must be planning to move in 2020
  10. Banks will realise they will now more than likely get better returns on their repo's from people who actually want a house, now the BTL crowd have put there chequebooks away. So local auctions would be logical, rather than London ones. That's my guess anyway...
  11. I've been trying to get my parents to sell their bungalow, which is "worth" 180k. I explain to them that it's my inheritance and they should be protecting it by moving into rented before the crash really takes hold. Greedy b****ds just want to live in it though
  12. History suggests otherwise. Where were the rich families preventing the 89-90s crash?
  13. I'll feel happy when £75k will again buy me a well maintained 2 bed victorian terrace close to town with a little garden. Like in 1999. They are going for £160-£220k round here at the moment (Cheltenham).
  14. How's your C#/ASP.Net/SQL? The agencies are only sending us monkeys.
  15. The hike in premiums due to floods are nothing compared to what rates will do when the rioting starts
  16. It's really hard to see how anyone could deisgn a system which is so BAD for the majority of the population, unless it's not meant to be good for them. 3 "collapsed" skyscrapers in one day? I'll get me tinfoil hat ...
  17. Democracy could work perfrectly well, if we had a hung parliament. Voting for independants and minority parties is the only way we can restore government to it's proper place. i.e leaving us the f**k alone. I could just be crackers though
  18. This is all very interesting. Here's a thought (that no one will probably respond to ) Instead of taxation and the legions of tax collectors the governments employs, together with their constant battle against tax evasion and the like, what would happen if the government just spent every penny it needs into existence and became the sole issuer of money. Inflation would then be the only tax that exists, and the only tax that is neccessary. Would the world be a better place? Or have I lost my marbles?
  19. I just banked my STR cheque today. There were factors which made me want to move from my house, and I decided renting was better than buying at the moment. Now I'm just worried about what to do with the money, and hoping that my landlord is solvent And, of course, hoping for a swift crash. Evil, eh?
  20. I certainly feel less smug this week than I did when I first posted. A bank run and government interference in the markets makes things considerably less clear. I still think I did the right thing though. 90%.
  21. It was a 2 bed terraced house, but there were other reasons for selling (a new build went up less than 40 feet from my bedroom window). I made the decision that renting was the way to go for now due to the impending "correction", and I dropped 1.25% on my anticipated sale price to get the sale through. So only a minor element of speculation - as I said I'm a complete bear normally. If it becomes obvious that big wage inflation is occurring, then I can be a homeowner again in no time. That's one good thing about holding cash.
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