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House Price Crash Forum

General Melchett

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Everything posted by General Melchett

  1. I fully understand your point, and agree it is depressing. However, I think the telling thing will be how many of these sales actually complete. I suspect it will not be many, and that reality may start to dawn around December. That said, the market can remain delusional for a long a time. This we alos know to be true.
  2. When and why did the good old, self-explanatory 'Public sector borrowing requirement (PSBR)' phrase fall out of use? Seems to me the currently favoured term 'defecit' is just opening the door to Liebour and the muppet leaders of the public sector unions to misrepresent what the real problem is and what the cause is,* something which they seem to be doing several times a day to my hearing of the radio and TV news. Why not go back to calling a spade a spade? *I have no love for banks or bankers, but it is not them buying bags of pasta for 40 quid a time.
  3. Oh, I can afford it and dont have money worries as the author means it.... I just refuse to pay twice what the same package holiday cost 3 years ago.
  4. I probably will when the kids leave school. That said, my job takes me all over anyway, whilst my opinion of 'the developing world charidee business,' having seen it in the raw, so to speak, on my travels, wouldnt get past this sites profanity filter. I'm not saying that VSO is in that bucket of contempt, but a lot of other well known names in the charidee business certainly are.
  5. LOL, and that is absolutely spot on. Of course, most of these things, that are worth doing, dont really cost that much. Even cycling, there is only so much you can spunk on buying bicycles before your garage gets full or your wife objects or your cycling mates start taking the piss. Spending money, in itself, doesnt make me happy. I suspect it doenst make many people happy. Although a lot of people seem to labour under the illusion that it does, I suspect what they are 'enjoying' is as transitory as the 'feelgood' from having a w*nk.
  6. Done that And maxed out on ISAs What next? If you earn well and live frugal, have no mortgage/rent to pay and dont want to pour it into a bubble (property, yellow stuff, tulips etc), the cash can rack up pretty quick.
  7. OTOH.... I spent a decade living off baked beans and going on cycle camping holidays, finally paying off mine in about 2006. And since 2007 have had a big chunk of money every month with nowhere to go that (at best) doesnt devalue at the rate of inflation, the loss going to keep all the feckless buggers who were living it up for that decade in the style to which they have become accustomed. Which sucks, let me tell you.
  8. I've been promised all sorts of shit over the years by private sector pension funds (Inequitable Life, disappearing, take it or leave it FS schemes, money purchase schemes that seem to steadily drain into some fund managers pocket etc). Welcome to my world, public sector employeees.
  9. So, Arbitrage, you paid in 3.5K for 25 years (inflation adjusted). 87.5K. Lets round it up to 100K to be generous and account for 'return on investment,' something incidentally you wont see in a privte sector money purchase pension sheme. So, how much a year do you expect this scheme to pay out for? And for how many years? I genuinely want to know.
  10. And it's hard to save money cutting pack sizes when the 'pack' contains, say, one vacuum cleaner. I dont suppose Electrolux (or some otehr bright spark) have considered shipping 5-7% of their boxes empty instead? That could work?
  11. According to Occam's Razor.... you have the answer, sir.
  12. Yes and No, in that Yes people do as you say, but No in that I think it is not boom-specific. It is part of a generalized '****** it, this is all so complex, scary and with the potential to go horribly wrong that I really dont want to think about it and will instead put my fate in the hands of self-proclaimed experts' syndrome.
  13. Thanks, Sarahleyburn. You wont find many on here who would argue with that.
  14. I really struggle to understand the economics of this: Houses are now smaller, flimsier and built quicker than they have been for about a century. In the last decade and a half, house prices have gone up several fold in real terms whilst, presumably in common with all other private industry, house builders have been working hard to drive down their real-terms costs and have benefitted from importing loads of eastern European labour . Practically every taxi driver I talk to tells of how he used to be a specialist in the building trade but has been edged out by cheap eastern European labour. So the only thing which could account for them needing to charge such high prices is the price of land, which is both surely mitigated both by them buying land banks at lower prices in previous years and by the fact that it is a relatively small part of the overall cost. Turnover is an issue, yes, but they have had 4 years now to adjust to current levels of turnover. So how come the big builders are not still coining it and how come their part of a shared equity arrangement is not simply a reduction in their profit margins rather than an extension of their debt?
  15. I think you might have mixed up who 'wags' who in their relationship.
  16. They just had this twunt on the Toady prog on R4, Neither him nor the useless interviewer Adam (Shaw?) made any mention of prices being too high or them being priced out. Not good for my blood pressure.
  17. Agree - 2k of the money we are putting into the certs comes from an old Nationwide savings account we decided to close, on discovering that they were paying us the princely sum of 0.16%. "This account may be right for you if you enjoy being involuntarily and suddenly taken from behind, without lubrication or warning, by a sweaty, overweight assistant branch manager."
  18. Agree - 2k of the money we are putting into the certs comes from an old Nationwide savings account we decided to close, on discovering that they were paying us the princely sum of 0.16%.
  19. Not sure. However, I will say that every single person in this country with a big chunk of cash on long term deposit has now had several years to relfect on how they have been fecked over by the baks and BSs, and that there is no other sensible place to put their cash This is pretty much unprecedented in recent history, AFAIK, si I reckon we are going to see a massive flight of cash from deposit accounts and cash ISAs for as long as the certs remain available and IRs remain way below inflation. The affects of that cash flight? Dunno.....
  20. Sales volumes have crashed in both my postcode (CM14) and my parents (CO11), but not yet prices. My parents next door neighbour is a wannabe probate sale and everyone concerned, including my parents, frankly seem to have fallen headlong into that Egyptian river. Odd, coz a few years ago my dad was agreeing with me about how out of control houses were and how a crash was coming. Now it's here, and next door, he cant accept it. All that imaginary profit vapourizing is hard to accept, I suppose.
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