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House Price Crash Forum

dirtysteve

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Everything posted by dirtysteve

  1. Lol. Well please inform us all of where our money should be! premium bonds currently have an annual prize fund interest rate of 1.4%. TAX FREE! As an Additional rate taxpayer I pay 45% in tax on all other savings income. So to earn 1.4% net elsewhere I’d need to get 2.55% gross. Please tell me where I can get that. Yes not everyone gets 1.4% but if you have the max amount invested you get very close and often better. My £50,000 in premium bonds is government backed so as safe as you can get and earning more than double when considering tax of any of my other savings accounts and It represents only a single digit % of my total savings but if the max premium bond limit was much higher I’d put much more in. Yes there’s better investment options out there but nothing I can see that GUARANTEES protection of capital during volatile times when you’re waiting to buy a house. If equities fall back again I plan on going in big but not at 6000 level. Maybe I’ll regret that. please share your superior investment knowledge with us all so we can all benefit too.
  2. Surely you’d just put it all in gold!? After all that’s what you tell everyone else to do a hundred times a day ? On topic though..... I have a very large sum currently sat mostly in cash. Yes I’m worried about inflation but I don’t see that coming just yet. Possibly even deflation first. For those with lower cash amounts who are also higher rate tax payers premium bonds are about your best bet if preservation of capital is important. I have the full 50k but that’s only a small amount of my savings so the rest is earning just around 1% before tax. Rubbish! I put 50k in the (uk) markets a week last Thursday and sold out the following Tuesday for 15% profit (BP, RDSB, GLEN, IAG, and a FTSE tracker). That was just lucky I guess. It was meant to be the start of a large buying spree but when the jumped I got out instead. I actually was hoping for falls to buy more in the short term. I sold because I’m not comfortable holding equities at the moment. In my opinion (and that of many so called experts) markets are completely detached from reality at the moment. The Dow is almost back to the level it was on 26/05/2019 (24465 today vs 24815 exactly a year ago). That is utter madness. Why? There was no pandemic a year ago, unemployment was at historic lows and the economy was strong. The FTSE is slightly more sensible but I still think has got carried away in its recovery and I think it’s toppy at 6000 with large risk to the downside. I see a strong chance of a second fall to mid March levels (sub 5000) or possibly lower. I’ll start buying before then though in chunks on the way down so as not to miss the bottom. Savers are screwed at the moment. Low interest rates and erratic equity markets. One per cent may sound a rubbish return but at least capital is (relatively) assured. The FTSE will definitely be higher than today’s levels in the not so distant future. There’s so much money around it has to go somewhere. However it might be quite a bit lower before that time. That’s what I’m gambling on/hoping for. I certainly wouldn’t go all in whilst the FTSE is at 6000. A lot of my pension is in equities so I’m exposed there but that’s different as it’s a long term position as compared to a house deposit for now. Warlord might like to ramp gold but for me it’s way too volatile and if corona was to quietly disappear I think gold will fall back. It’s a great long term investment but I just think too high at current prices to get involved. Especially considering the ridiculous margins if you buy, hold, and sell physical. I have a small holding of Brittania’s but aren’t buying more. For gold to make you really rich you need an Armageddon situation, and then it would be pretty pointless being so rich anyway. Im glad I’m not the only one struggling to know where to invest at the moment.
  3. I’ll gladly quote your nonsense too so I don’t lose it. I 100% disagree with it. Let’s see who’s right.
  4. That really is shit! That just delays the inevitable and could be a total game changer. How long can you let someone own a home they just can’t afford!? Their debt and potential loss will only get bigger and banks liquidity will be screwed unless QE goes through the roof. Guess that’s the plan. Inflate away these poor buggers debt until it’s so small they can pay it on their new McSalary. Meanwhile savers lose everything. Again.
  5. On what basis? The homeowners still owe that money! For now anyway ?
  6. You’ve come to a website call HPC to ask this question ? I think the fact you’re here answers your own question and you’re simply looking for confirmation. We don’t have enough facts to help really but if it helps you someone saying so then yes, run away! Or maybe at least try speaking with the builder saying you’ve been furloughed or had a Covid pay cut and can’t afford it anymore and ask if they can help with a small reduction. Only you can make these decisions though. Sorry you find yourself in this difficult position.
  7. Service charge + ground rent = approx £4400 ? So that’s probably nearer £5000 in reality. Good luck with that in that location. The service charge is a mortgage in itself. For a gym and concierge that aren’t open or needed at the moment ?
  8. Let’s hope you’re right. I’d be happy to wait and see but I have a less patient wife lol. Trying to decide where to keep/invest my deposit whilst we wait is my other big stress right now but that’s a whole different topic.
  9. lol. Never seen that. I’ve met a lot of estate agents in recent years through struggling to sell my leasehold flat to more recently looking at buying houses. Most are arrogant incompetent lying cretins but in fairness I’ve met quite a fair few decent honest ones just trying to earn a living and not live up to the stereotype. You can spot the worst greasy haired, sharp suited, Mercedes driving type a mile off.
  10. It’s annoying it relies on a listing rather than an address. The data must be there to allow an app to use address and track all price movements through any listing and any agent. You’d think it would also be available through freedom of information. The info is out there as agents have access to data like this.
  11. Yep. If you want a recent new build rabbit hutch leasehold flat or similar then yes you’ll get your 30%+. If you actually want (and lucky enough to afford) that dream home in the leafy subs by the nice outstanding state school, then sorry, but 10% max! And don’t blink or you’ll miss your chance. I want the latter and with cash in bank im primed and ready but I also know anything more than 10% and I’ll be crushed in the rush for these houses. I need to buy and don’t want to miss out so guess I’ll buy the first bargain we love.
  12. As someone renting with cash in the bank after selling last year I’m confident a crash (of sorts) is coming. But I still can’t help but feel I may be disappointed. 7M furloughed but the most vulnerable of those are likely low paid in areas such as leisure and hospitality. Of those that are homeowners they have their 3 month mortgage holiday, furlough pay and possibly a partner still earning. Many will be re-employed if the economy starts recovering. Then there’s more government money that will likely come for other industries hit. I just have this nightmare that a crash won’t happen at all or will be so short lived I’ll miss it. I think the travel industry may be the deal breaker though. So many pilots, cabin crew, engineers, managers, ATC etc etc etc all with mortgages and expensive cars could soon lose their jobs (unfortunately (I don’t want to see anyone lose their career)). The suppliers to airlines such as catering, supplies, IFE, taxis, hotels, holidays, clothes etc etc is absolutely enormous. If airlines don’t start flying soon then surely that alone could be the first domino to fall.
  13. Could a landlord expect tenants to accommodate viewings at the moment if they wanted to sell? There’s one thing allowing strangers in to your own home if you’re desperate to sell but if you are renting and being evicted it’s hardly fair to be expected to be put at risk of loads strangers entering your home for no benefit to yourself.
  14. I like this thread. Let’s hope it becomes very active again soon. ?
  15. Here’s another good one..... (sorry if already posted) https://www.zerohedge.com/personal-finance/holy-god-were-about-lose-everything-pandemic-crushes-overleveraged-airbnb
  16. I’m confused. I thought this thread was about corona virus business wage relief.
  17. irrelevant if people don’t have jobs or have taken huge pay cuts. That implosion will come. The world is too focussed on the virus for now but once they've realised it’s not that bad and they move on and try and get the economy restarted they’ll see the damage. Then the 24 hour news channels will shift their focus to the global recession and crashing markets. Fun times ahead.
  18. No one knows the answers. But I’m pretty sure youll have better options in a month or two. In 18 months this could all be behind us but that all depends on Corona. Nobody knows. I’m a cash buyer (large deposit, only small mortgage required and nothing to sell) and hoping I can buy within the next 6 months.
  19. No one can really tell you as there’s so much more we don’t know. However going ahead sounds a terrible idea from what you’ve said. Post us a Rightmove link to it. if you still want it tell them the World has clearly changed so £140k take it or leave it max price. If they say no then it’s them that’s walked away not you so everyone’s a winner. If they say yes you might have got a bargain. Or at least a fair price.
  20. Mugs. You can also buy for sub £20 on eBay. And for sellers there’s a 10% fee so hardly a great profit. Fact is silver price is £12/oz so if you want to buy silver Brittania’s as a serious investment then relying on selling the odd one for a few quid profit on eBay whilst being down overall on real world value on the rest of your coins doesn’t appeal to me.
  21. Silver Brittania’s only £20 ? But Silver price is currently £12/oz ? Do the math!
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