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House Price Crash Forum


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About buyhighselllow

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    HPC Poster
  1. +1 In the town where I live the Conservation Nazis, along with the rest of the council are trying to move out of their Grade II listed offices because they cant afford the maintenance costs. They are people of such limited vision that the irony is lost on them. They manage thousands of mediocre poorly built regency houses of no special significance, their main role to be to say 'no' whenever anyone asks them a question. They are despised by all of the building trades and ignored by as many people as can get away with it. The golden rule is never, ever let them inside your property, Simple solution is to abolish English Heritage and de-list 80 or 90% of current listed buildings. That won't happen until we get to roughly where Greece is today. This is one reason that I'm enjoying the current euro crisis so much, because it brings the day of collapse just that bit closer.
  2. The back of my envelope says that at 6x salary and 5% interest rates it takes about 85% of your post-tax income over 25 years to pay back the money you borrowed. At higher multiples/higher rates you simply can't earn enough money to both eat and pay back the debt. At 3x salary and same assumptions it only takes 42%. This would let you live a life and save for retirement. This is maths which anyone can understand, criticize and agree upon, not a law of economics/banking which is just snake oil and fraud. Of course I'm stupid and have forgotten that interest rates will be at 0.5% for the next 25 years and an interest only mortgage is the way to go because the half million pounds I borrowed won't have to be paid back because after selling for a million I can retire to the Algarve on the money I made, and anyway I'm in a secure job and am absolutely sure that my salary will double over the next few years so that the repayments will seem less of a burden. Don't take my word for it - either use the =PMT() function in excel/open office or use a mortgage calculator and multiply the repayment by years*12. I sanity checked my numbers using this : http://www.bbc.co.uk/homes/property/mortgagecalculator.shtml
  3. As part of its insane expansion plans my local NHS trust (Cheltenham) is trying to build a big ugly multi story car park that will overshadow a beautiful park and lido. The plan seems to be 1. Engineer an infrastructure crisis by building patient treatment facilities on top of their existing car parks (no room to park - no shit sherlock). 2. Sell the rights to build a car park and operate parking as a 30 year PFI deal before bothering to get planning permission for it. 3. Ignore the local planning decision (for once they saw sense and threw the plan out) and appeal to the secretary of state via a public inquiry. Conveniently the trust doesn't have to be the bad guy - Vinci the car park operator gets to play that role. We're waiting for the decision of the inquiry - I don't doubt that they will decide in favor of the hospital. After all it will be the right thing to do. They have just worked out that they've got a massive budget problem at the trust and are proposing to close 100 beds at the site. I guess that might mean that they don't need all those extra car park spaces then. link The waste and management incompetence beggars belief. My only hope is that collapse of the state arrives soon enough to save us from this folly. Sadly, staff and patients are going to suffer however it pans out.
  4. I used mathematics and a spreadsheet back when "everyone" was buying these (now failed) products to avoid this trap. These products really were pathetic, just saving the endowment premiums into a savings account compounded over 25 years would pay off the debt (but you took on the risk of the stock market when you went with the endowment). It was obvious at the time that that their sole purpose was to buy Porsches for financial advisors and bankers. Fortunately for the suits, media studies is considered as valid as A-level as maths (and a lot easier to get an A in, so you'd be mug to ignore your school as they coach you towards innumeracy), so there's little chance that the majority of people will avoid similar Porsche purchasing schemes in the future.
  5. I agree with Nick O'Ftime Your back is stabilized by the muscles around it, the stronger it is, the fewer issues you will have. I was told this by the consultant who treated me for a broken back 20 years ago, what he said made sense I have followed his advice to this day. Would I or Nick O'Ftime be happier today if we had joined the sicko-benefits culture permanantly by sitting around and complaining and claiming and never getting ourselves fit again?
  6. Climbers will still sneak in to Yosemite and the other parks. I'd like to see Arnie try to stop them, he's picking on at least one demographic with a track record of absolutely no respect for authority.
  7. I don't understand this comment. Look at the share price for RBS over 5 years on yahoo finance Log if you are a gambler trader making a quick buck on the recent up-tick. After all its only shuffling numbers around in a computer. Linear if you want to appreciate the destruction of shareholder value over the last few years, to see the destruction of a major institution. You need different scales for different purposes, the data is the same, just the presentation. If the point of the analysis is to look at long term trends and the real debt built up, linear looks better to me.
  8. You know those automatic air fresheners you see in workplace toilets. High on the wall, squirt a bit of scent every few hours? During one of the redundancy rounds at Motorola in Swindon, someone dumped a turd in one. It was spraying dilute feces on his ex-colleagues for weeks every time they went to the loo.
  9. Good. I'm an engineer and have had to prove my value is greater than the 10 engineers that they could replace me with in China or India every day for the last 5 years. If I can succeed in this situation, I don't see why lawyers (or anyone else) should get special treatment if they don't feel that I should have any special protection.
  10. I was looking for work 6 months ago in Gloucestershire - found something straight away through contacts but did browse the Reed website amongst others at the time. Looking again this morning, there seems to be a dramatic reduction in advertised jobs (5x down at least). Not helping out the OP much (sorry), its just how I see it today compared to then.
  11. My wife is a teacher. She works as hard or harder than me, spent most if the easter break marking coursework, was working till 10pm tonight,started work at 8:00AM I don't suppose I could ever persuade you that teachers earn their money - but then I'm sure you could do the job if its that easy. A related point on public sector non-jobs is just how much money is spent on 'social care' - like 60%+ of my council tax. I guess that what I'm paying for is not having to personally deal with all of the dysfunctional fuc*ed-up losers, dropouts, drug addicts, teenage mums, spongers and feral teenagers. I am afraid that when the social crutch we're paying for is taken away from these sectors of society, the result is going to be very messy.
  12. This site plots graphs of the same data. http://www.houseladder.co.uk/House_Prices/...n=ng9&SCD=0
  13. As you know, when you get a replacement credit card you have to activate it. Bcard: "Hello what can I do for you" Me: "I don't know, you asked me to call you - the numbers on a sticker on my new card. <... lots of stupid questions anyone willing to go look at the electoral register could answer ...> Bcard: "The computer seems slow, do you mind if I pass on some info.." Me: "ok..." Bcard: <... long boring sales pitch about internet fraud and the great insurance deal I can buy...> Me: "You seem to be selling me insurance, not giving me information". Bcard: "Er..." Me: "I have statutory rights that protect me in these cases. Can you tell me what additional protection, over and above what I already have that this insurance will provide". Bcard: "I'm not qualified to provide that information, but I have a customer services number that you can call that would help you" Me: "Life's too short for that. How about we just activate the card." Bcard: "Ok". The only puzzle for me is that I'm annoyed by the minutes they steal from me with this bullsh*it, but I'm willing to type it out for some internet forum.
  14. In control theory, negative feedback leads to desirable consequences, like the accurate amplification of a signal or the attainment of a desired control point (e.g. the set speed on the cruise control on your car). Bank regulation should have worked as a source of negative feedback, but failed. Positive feedback leads to wild swings, out of control systems and is only used when really needed for overwhelming reasons (like extending the battery life on your 3G mobile from cr@p to merely sh1t). Most of the time positive feedback is explicitly designed OUT of systems and circuits. As an engineer, not an economist, I have always been staggered that people believe that their economic model will work. I've looked at diagrams of the BoE model, and its stuffed full of positive feedback loops. Doomed to oscillate or crash. They talk b0llocks when they suggest that their models have any meaning over more than the short term (less than one oscillation before hitting its limits). Its an alternative view, but the whole banking crisis is a failure to understand the basic control theory that you learn @ uni in year1 of an engineering course.
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