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House Price Crash Forum


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Everything posted by Yoss

  1. Inflation in everyday living needs, without wage inflation will feel just like deflation. The reason for the squeezed middle argument. That and that alone will make servicing personal debt much harder. Help to buy will bite many a squeezed middle in the ****, regardless if rates normalise or not. If the cost of food/heating/fuel/housing keep going up much faster than wages. Big banks know this, which is why they have tightened their "CHEAP" loan criteria, payday lenders are exploiting it with crazy APR's for those excluded from the QE cheap money. Sure QE has helped the UK shine like a hollowed out pumpkin on Halloween, but that same pumpkin will wilt and die much quicker than one left on the vine.
  2. LOL, C4 News tonight, about families in dept! Single mum of five, plus oldest daughter wants her baby to have a good Christmas. Seems like blatant propaganda to me, few will feel sympathy for a skint family in a big house, nice furniture, complaining the kids will be looked down on if they don't have the latest game for the latest console, that they already own. Hey but now it's a cultural issue! We have a culture of live now pay later. To sort the issue out.... More free MONEY.
  3. So I have received a letter from L&G telling me that I have been auto enrolled. But no detail on the charges at all! No detail of fund performance. No detail what so ever in fact... Anyone know where I can get detail of the L&G Multi-Asset Lifestyle fund performance over the last 10 years?
  4. Last 2x IT posts I had to fill, I got board interviewing really crap graduates who failled even the most basic programming tests! Jobs went to a self taught school leaver (Now studing a degree at OU) and an old/past it AS 400 programmer looking for a short commute and was willing to re-train. Neither moans about having to do work outside thier job role, both innovate and contribute to the team/business. Having a degree doesn't make someone a good worker. Don't knock apprenticeships... many a hard working school leaver is scared by the debt of studying for a degree, and that in my eyes that = common sense (A key skill).
  5. Having actually seen the Olympic site, and knowing the area (from 20 years before) The Olympics has made a very horrible bit of London very nice indeed. The place will be much better than the dank/dodgy old lock ups that used to be there. The work that has been done has transformed the place from the utter s#$1t hole it used to be into something Beautiful! With rail/fuel fares ever increasing I think 2012 was perfect timing for the UK. How it effects London prices is any ones guess, but as for funded public legacy's I actually think this will be one of the very rare good ones.
  6. why did you call this date?
  7. Most sheeple confuse, everyday living expenses with house prices rises....Inflation over the last 12 years only effected one market more than most, But wage inflation isn't gunna happen any time soon...hence the squeezed/deluded middle. You can ask for a cost of living pay rise....to cover you additional costs, but if your employer can't afford it? This is when HPC hits home! BOE given new powers to stop speculative lending = Crash (Because that is what caused the bubble...under supply myth etc etc etc...Under supply is a myth with basic homes costing 7x avg FALLING REAL SALARY!) Inflation in costs, without inflation in wages will feel like deflation = GBP centric retail will get hammered! And with a large %'age of GDP off the back of failing retail...so will GBP.
  8. http://ftalphaville.ft.com/blog/2011/05/18/572046/please-wait-10-months-for-your-aluminium-thank-you/ "All we wants is the precious!"
  9. Just habit really, I like Brit designs and wanted a consistent present for my daughter to show I ha been thinking about it for 21 years, never expected the prices to go up as much as they have. I have this years 21 (I normally buy 25 - 4 for wedding/birth presents) but that's gone out the window at the current price. But next year will be looking for other 1oz coins....IF I can still afford em.
  10. I wasn't after a return! Just a special present that would help her out further down the line... What I didn't count on was the line moving so far..so fast.
  11. Silver Brits 4 years ago @£12 per oz after VAT and delivery from royal mint Now ... http://www.royalmint.com/store/BritishSilver/BR11AGN.aspx Tis a big move ( VAT jumped to 20%)... but regardless that's a big fugging swing!
  12. When I started to buy silver Brits for my daughter 4 year old daughter 5 years ago....I thought £12 per coin was a lot! (Way over spot). but I wanted to buy 21 per year as a special 21st B'day present. To show I had been thinking about her for the last 21 years. http://www.royalmint.com/store/BritishSilver/BR11AGN.aspx The way the price is going....I will need a 2nd mortgage to meet that aim! Now do I stop buying and wait for the crash......or sell up now an use what I have bought as a deposit on a new 911?
  13. Just wait for the next excuse for the BOE not to raise rates. Japan/Oil Spike/Food Spike/VAT increase/Fuel spike...we can air those out for years..... the underlying forces are deflationary and all hang off NIL wage increases = strikes. We will inflate out of this mess, although the smart move to switch from index linking to CPI rather than RPI is starting to look a very floored.
  14. Mortgage lending is about to focus on LTV ratio, sure you got £100K of equity, they will lend. You got , sub 20% Equity.. you will get a quote..but said loan will not materialise. Not without an expensive valuation. It's called "Prudent" lending and it is all the rage. Self certs unless well funded need not apply , and thus the market WILL fall back to credible lending levels...GDP will go with it.
  15. As this is on anecdotal thread... I know of at least 5 people at work demanding pay rises / cars allowances etc. Some have strong cases (aka low pay and good skills) , some are just chancers.. If you don't ask, you don't get types. Will be very interesting to see how the negotiations go. But alot of grumbling, about cost of living etc.
  16. Nice to know that the BOE's pension fund covered their own bums (in 2007) by switching into masses of inflation proofed bond investments before inflation went well off the fan charts! When they switch out, it might be a good time to switch from your inflation hedged assets! But don't expect UK interest rates to move soon, China may manipulate their currency to gain advantage... but when they stop manipulating, and stop buying western debt... The "inflation" word, if used on it's own will be a fond memory.
  17. http://noir.bloomberg.com/apps/news?pid=newsarchive&sid=a1WXbWqQGoIQ
  18. Inflation without wage inflation, will feel like deflation! The last 10 years have UK household income/expenditure on food/fuel at historic lows, that will change... but the wage increases (aka 70's) will not come to save us. The world is a bigger place now.
  19. Comods aren't being dumped! It is just GBP is about to get a lot stronger! Few countries have a more talented/flexible/mobile/inventive/educated & indebted work force!
  20. BOE fighting inflation? Not from where I am sitting. "One Off " factors = "My ****"!
  21. The market is pricing in aggressive rate rises...simple as (Pure spin). GBP rises (due to rate rises) FTSE 100 falls as most derive earnings from non GPB products, Gold/Silver priced in $. Although don't count on said rate rises appearing as soon as forecast! The BOE/Government have clearly embarked on a inflate the debt away stance. The cleaver ruse to introduce factors month, after month, after month.... that can be called "One Off's" allows them to let inflation rip! Fuel Duty Rises, Bad Weather, Global forces, falling public sector employment, VAT increase Unemployment will keep a cap on "Wage Inflation".... just standards of living will fall. I am a Bull on GBP right now though, regardless despite the inflation stats...with aggressive benefit cuts, good work ethic...I actually think we will fair better than most EU states.
  22. I went in today to get a 5 year fix, 30% LTV sub 1.5x single salary, bought the place in 1998 made lot of improvements, EA prices around 330K. Needed 1. Passport 2. 3x months worth of pay slips 3. 3x Months worth of statements on 2x current accounts 4. Details of any saving investments 5. Details of all my out goings 6. Was asked about any future life changes (do I want more kids/holidays) 7. Details of everything I spend on each month (Fags/booze) 8. Benefits 9. Dependants 10. Nature of business I work in. 11. Life insurance arrangements 12. Personal savings 13. Other assets 14. Details of any time I have been out of work in the last 10 years. Now I know lots of that was sales talk... but the requirements where more stringent than back when I was self employed (1998) all I needed then was 3 years worth audited accounts. I spend 1.5 hours with an HSBC consultant, pointing out the fine print..should I get accepted for the loan. All this with a +950 credit score? I'd expect that mortgage famine to continue a long time, or maybe I just look shifty (She defo didn't fancy me) Last time I re-mortgaged (5 years ago) I was asked when I would be free for a valuation, bloke came round, took a quick look around the place, and asked what I thought it was worth.... I replied I don't give a feck as long as over 220K, LTV is sub 50% (AKA best rate) and freakishly enough...that's exactly what it was valued at.
  23. Chuff all to do with the snow, Over 50% UK public sector workers are worried about their jobs, many in private sector also... Now your not going to ramp up the credit card/loans if you are worried about being unemployed 3 months down the line.
  24. No but it will impact food/commodity prices and thus inflation.... and in the old days inflation affected (or is it effected) interest rates! And that certainly does (effect/affect....I never remember which) house prices
  25. The shame is... It was avoidable. no more 4x salary/no deposit/no proof of earning mortgages, interest rates 7-8% Which will probably overshoot to 10-14% to balance the 500 year low of 0.5%. If interest rates don't catch up the (Food/Fuel) inflation WILL get more and more news worthy. The tabloids/people already waking up to food/fuel price inflation coupled with wage deflation (deep down many know, someone with a degree, no student debt and only a 15K mortgage can do our jobs a lot cheaper that we can)...couple that with crippling national/personal debts and you will soon think a 25% drop in house prices a god send. When the Avg wage in the UK drops to £10 p/h (In REAL terms). That £10 might sound a lot to some, but after direct/indirect taxation... it's STILL a lot higher than world Avg. We will have some very serious social issues. BUT I still believe the UK compared to the rest of Europe has one of the strongest work ethics and the best austerity thresholds going. We actually perform our best when we have a bit of "Blitz spirit" and pull together as a society... we suck/fracture as a nation when we are spoilt. I can't see the Euro lasting 2 years without 'policed state' emergency measures kicking in.... And that last point is the one that worries me.
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