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House Price Crash Forum


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About johnycoldears

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  1. Carillon should have been bust years ago. They've been kept afloat by continuously extending their payment terms to suppliers and sub contractors. Generally they will be paid monthly by the Client after 30 days and they are now procuring sub contractors on 120 day terms,and still missing payment dates Ultimately this tactic will backfire as there are a lot of companies who won't, or who can't afford to, work for Carillion.
  2. Slight **** up in the conversion there. 2700 acres is 4.22 square miles. 4218 square miles must be the size of a couple of counties. $67 million would be quite a bargain in that case.
  3. Reading between the lines in the article, it's not that every estate agent averages £52k, just the 8000 RICS members. These guys are the degree qualified chartered surveyors who are actually supposed to know technical matters, amongst other things. Hence why a chartered surveyor will always undertake structural surveys etc. Most estate agents will only have one (if they have any) chartered surveyor. The bunch of brain deals flogging overpriced hovels might well be on near minimum wage (and hopefully are)
  4. Jeremy Paxman telling the DM readers how it is "The soaring cost of putting a roof over your head is surely one of the most unattractive — and pernicious — characteristics of the past 40 years. And yet for decades the media have reported a rise in house prices as being somehow a cause for celebration and a fall as a bad thing. But the consequence of this obsession — and the borrowing that made it possible — was to destroy the relationship between property prices and wages: housing is now so far beyond the reach of many young people that significant numbers doubt whether they will ever be able to buy decent accommodation. " Or "The only explanation for the nation’s obsession with property prices is the Baby-Boomers’ smug conviction that, having entered the market, the only thing they need to do to become wealthy is to sit on their backsides. And who can blame them? In 1968, when the first of the Baby-Boomers were beginning to think about settling down, 425,000 homes were built in Britain. Last year, the total was just over 100,000 — fewer than in any year since 1923. With figures like that, of course, the cost of putting a roof over your head rises. Lucky Generation investors who followed the advice of property-porn television and got into buy-to-let schemes developed another way of taking money from the young and securing it for the old" http://www.dailymail.co.uk/news/article-2055497/JEREMY-PAXMAN-Baby-Boomers-selfish-generation-history.html
  5. It's finally happened ---- IT'S UNDER OFFER ! ! http://www.rightmove.co.uk/property-for-sale/property-17502444.html Any bets on whether it'll go through?
  6. I stand corrected . I thought I knew the area, and my post was based on the comments of a resident of Dartmouth (a senior sailing instructor). Be interesting to know the circumstances of the flooding as this estuary has loads of these kind of waterfront properties, half of which are available for hoilday rent. Actually if he thinks he can cure the problem by raising the door sills maybe it is just rising sea levels (?)
  7. To be fair, whatever else can be said about this place, there is very little chance of it flooding, short of rising sea levels from global warming. The 'river' it is adjacent to is actually the estuary linking down to Dartmouth. As such it is tidal water and its varying levesl are accurately known. It would have been built to be above the highest recorded tidal level. It won't be prone to the typical kinds of river flooding affecting places like York and Bridgnorth over the last few years.
  8. Don't forget the tax increases now levvied. For example the Government now charge an aggregate tax on quarried materials - probably adds 20% to to aggregate costs on its own. Then there's land fill tax - all the muck you dispose of attracts this tax on top of the normal tip rate. Overall far more than a 50% increase on materials Want to connect your sewage to the mains system that'll be a £400 fee please.. As for the economies of scale argument, again this generally doesn't hold water. If you build one house it is generally on a plot by the side of an existing road. A quick driveway and a connection on to the local services and you're good to go. If you want to build 100 houses you've got entire new roads and drainage systems to install. You'll also have to pay the council £300k - £500k in what's called a section 278 arrangemnet to upgrade the local roads to take the increased traffic you're about to put on them.
  9. Absolutely spot on. Thank God for a sane post - and I am a QS
  10. My biggest concern is that it will not be applied equally. For example I am in the Civil Engineering industry, building and maintaining roads for a living. I can see a situation where a council saves, say, £10 miiion off its budget simpy by cutting spending on road maintainance. Let's face it we can all manage a couple of extra years with roads that don't run as smooth as billiard tables.. Applied over many departments most of the savings could be made without cutting many public sector positions. Therefore the cuts will be pushed onto the private sector, - the contractors, engineers, quarries and builders merchants. This is where the jobs will end up being lost, in the private sector. This has how it has played out in the past ,and i can see no reason why it won't be the same this time.
  11. Fair enough. If it's a choice between being a boomer and being associated with the Clash or Generation X and Boyzone, I'll take being called a boomer anyday. - I've still got to work till I'm 72 and retire on a crap pension though !
  12. According to wikipedia generation x runs from birth dates about 1961. Generation y is for those born from mid to late 70's. Hence why boy band such as " take that " just aren't my generation's fault I've got to agree about the perception though. Most of us do have the advantage of owning our own (reasonably mortgaged) house, but our pensions are screwed and our retirement age is ever advancing.
  13. Haircut 100 ? How about the specials, The Jam, U2 - in fact anything from (arguably) punk to new wave to ska to mod revival to new romantic to early rap (Grand Master Flash) to (unfortunately) Scott Aitken and Waterman. The late seventies and early eighties produced more variety of music than anything before or since (obviously apologies for the S,A &W). I was born in '64, classic generation X and this was the soundtrack to my late tees, early twenties. Oh yeah, and boy bands ,they're the fault of the next generation - whatever that's called !
  14. The Wrekin Ruby was not the only piece of creative accounting that the shyster who owned Wrekin (for less than two years) used For example: Common accounting practice is to write off an assett in the books over a period of years. Wrekin would write off, say, a JCB excavator over 4 years. At this point Wrekin's owner would sell the JCB to a plant disposal company he owned ( Equitrek) for £1. Three months later Wrekin would buy the same JCB back from Equitrek at full market value, say £25,000. A nice way to take £25,000 out of the company and into the owners pocket. Apparently in the last 12 months of Wrekin's life over £2 million was taken out of the company by these kind of scams. The reason I know this ? I was an employee of Wrekin for many years right up until their demise. The JCB scam was one that was uncovered by some of the guys below Director level a couple of weeks befor they went under - and yes it has been bought to the attention of the Administrators.
  15. I also work as a QS in the construction business and agree with the above 100%. It is also worth pointing out that a tender costs thousands of pounds to prepare. If you don't want the job, but want to keep sweet with the Client, a cover price is the only way to go. In actual fact if you invested the sums involved to price every contract, whether or not you actually wanted it, you would have to add the additional estimating costs to your tender price. Don't forget only aboout 1 in 6 bids are successful so each winning contract would have to have 5 unsuucessful bid costs built in. Finally the reason that the Clients ( usually Local Authorities) believe that the winning bid is overinflated compared with their own estimate is that, in 27 years in the business I have never known one LA be able to budget estimate for sh*t.
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