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House Price Crash Forum


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Everything posted by InternationalRockSuperstar

  1. Which is less than monetary inflation. And that's the gross yield. Net is a bit less. Does anyone here know a way of looking up when this house was bought and how much was paid? So you think he'll get his asking price? I don't - not even close. Maybe 6 or 7 months ago but he's left it too late now.
  2. You HAVE to warn then because they are your friends and you KNOW that they'll be in negative equity for a decade if they do. Just do what thefinalbear suggested, then they can't say you didn't warn them. There were a number of young couples who foolishly bought at the peak of the last housing bubble and who subsequently couldn't afford to start a family 'cos they spent all of the 1990s as debt slaves.
  3. What I find quite amusing is that quite a few houses in the west of Oxford around Botley road are described as "recently rennovated". This is the area that got really badly flooded in the summer! With all these BTLers not managing to get the rent to cover the mortgage - I'd imagine the cost of flood damage must have pushed a few over the edge. Anyone here live in Tewkesbury or Sheffield 'cos the flooding there was way worse than in Ox.
  4. Yep. Off to the European Union to join Mandy. Or perhaps they'll be advisors at an investment bank. Or maybe at one of the companies that they've handed out multi-million gov't contracts to. ...so much to choose from...
  5. Gold has no counter party risk, which is good in a time when defaults are hitting multi-decade, if not multi-generational highs. Gold has no risk of inflation of supply greater than the 2% or so that is mined, which is good at a time when all major currencies have double digit broad monetary inlfation.
  6. They must not be including properties that don't have mortages on them. This distorts the figures because Glasgow probably had less owner occupiers than most places in the UK.
  7. link Take at look at this BTL house for sale in Oxford. It's up for sale at £385k. It says is sold with tenants in situ until August 2008 with a monthly rental income of £1750. That's 5.45% rental yield. I bet this guy's BTL mortgage just went up to 8.5% or something. Must be loosing a fair bit. And they can't wait to sell - even though they have tenants secured 'till August. Oxford's housing maket's soooo fooked.
  8. Yeah but the glass goes opaque when you flick a switch. Way cool! Don't see the point in spemding £1000 on the tap though. It doesn't even look that good.
  9. I heard $680 trillion. At this rate it'll be 1 quadrillion USD by the end of the year. When you have to use words you've never had to use before just to denote a number, you realise how dangerous the situation really is.
  10. That's the ugliest spreadsheet I've seen all year.
  11. UK real estate has been tanking in terms of Gold for several years now. Under Nu Labour, we haven't had a Black Wednesday - just 10 years of dark grey days.
  12. According to that article, if the sheet melts then sea levels will rise by 7.2m. I thought this was ******, so I did a quick calulation. Going by Wikipedia, there is 2.85x10^15 m^3 of ice in the sheet The radius of the Earth is 6.36x10^6 m which give a suface area of 4(pi)(6.36x10^6)^2 = 5.08x10^14 m^2 Then divide volume by area to get rise = 2.85x10^15 /5.08x10^14 = 5.61m Of course this estimate is too low because only 70% of Earth is currently covered in water. So: 5.08x10^14/0.7 = 8.01m (too high an estimate of course because as the levels rise, more surface will be water) so between 5 and 8 metres seems resonable. Scary stuff - but it ain't caused by human C02. The sheet has melted many times before without out help.
  13. Beat me to it! Also if you search for "Mises" on youtube there are some good audiobooks read out (including one by Ron Paul)- so you can listen to it while posting on HPC.
  14. Despite all the media hype, I can honestly say that I do not lay awake at night worrying about a colourless, odourless, non-toxic gas whose proportional increase in the atmosphere, even when measured over a whole decade, is so small that has to measured in parts per million (and whose thermal effect on the Earth's temperature is negligible in comparison to water vapour).
  15. NOOOOOOOOOOOOOOOOOOOOOOOOOOOO!!!! So if your land goes up in price by 20% simply because the Gov't increases the money supply by 20%, then you have to pay capital gains tax on your land even though its VALUE HASN'T INCREASED. The state would end up with everything.
  16. Well then at least we should get a 6 month warning of what it's gonna change to.
  17. In fact, I wouldn't be surprised if they brought the rate change forward a few months. Our Lords and Masters have a habit of moving the goalposts.
  18. Yeah, but just think what the interest rates will be. SL rates are reset every Sept - so should be safe for another 8 months.
  19. well 15% of 39 is 5.85 and if you add that on to the 1000 you get 1005.85 so that's a 0.585% rise in CPI. In reality, when the price of something goes up, the Gov't generally reduces its weighting in the CPI basket to hide the effect.
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