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House Price Crash Forum


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Everything posted by blackhole

  1. It's interesting for the OP to post this as much of fintech on the whole is actually on the up post-COVID, in terms of projects and activity.
  2. They existed (prior to COVID) as 100% mortgages with parents underwriting a significant deposit upfront, returnable in 3 years. I haven't checked lately as to their availability, but I know a few who have actually used this option for what I deem as tiny starter homes.
  3. Sanctions have been abused to the point they're wearing thin. So much so certain countries now bypass the $ with local currency trade. Alternative systems to SWIFT are being built to avoid their sanctions suppression. Game over there then.... It's a new world, "men with guns" no longer applies anymore. There's a good reason central banks in Russia and China have been loading up on gold for the last few years, significantly. Writing is on the wall. Game over here too... I'm actually involved in the blockchain space, the alternatives (both public mainnet and private solutions) are ready and waiting, some already at proof stage. An interesting thought however is what if the USA actively want to lose world currency status? It has been said that the pressure of being a world currency is what holds back the USA from leaping forward (overly strong $, which then assists in globalization, ponzi's etc....). It's genuinely possible therefore the dollar gets displaced, which then leads to an exports rush for the USA (as they become highly competitive compared to say China, who ofcourse is pegging their currency for gain). It will hurt those in the classical "strong $ finance" model though. But how else is the USA going to re-invent itself?
  4. Eventually the middle - much who have survived on cheap credit - will start to opt out when they realise there's not even a middle class worth hanging on to.
  5. They had at least a few months head start, assuming their intelligence sources in China weren't asleep at the wheel. It's rather amazing given how much is spent on military / defense that western countries could not prepare any better than they did.
  6. I've taken to less consumption by spending more time (and sometimes more money) on getting the initial purchase right in the first place. If done correctly the desire to change is dead years down the line. Indeed, hence BoJo's "get back to work plebs" calls. As someone posted earlier, it is nice to see the owning class sweating it for once in their lives.
  7. Hang on, weren't we told by someone on here they'll just use this bounce back loan as a deposit for the next addition to their portfolios? Genuinely surprised banks are holding out; do they suspect that someone who got a bounce back loan is more at risk of simply walking away if SHTF ? This leaves cash buyers who take the loan out as part of their capital. Cannot imagine this being a big % though. Interesting times indeed.
  8. I think you're underestimating the change this has brought to people on the whole (WFH revolution for one). If there was going to be a bounceback to offices (which is what is needed for a V shape recovery - so much of it is retail consumption based after all), I think it would have already happened prior to the 1st of August "get back to offices plebs" announcement. Looks rather desperate to me. The Oxford vaccine scientists admit that they cannot contain shedding and may not be able to, which means until there's a high enough percentage rollout, we're stuck with the virus for the foreseeable hence businesses prepared for the long haul WFH. The gov have been outsourcing to the likes of Serco again to manage this crisis. Ugh.
  9. Even if its just low-skilled employed that'll have a material effect on the BTL lot in an instant. The problem is those low-skilled types are big consumers, so it will have a material effect elsewhere. Don't need as much management or sales if demand has collapsed etc.
  10. But again, as I keep posting, buying isnt an option for some. As for full-on-socialism, well I dont know about yourself, but it wouldnt seem worthwhile staying around IMHO.
  11. Indeed, mentally zombie nation. Enables moral bankruptcy. Prepare!
  12. Lots of statements, nothing backing it. What trolls fail to understand is if the general public is starting to visit this site more and more, your typical "its cheaper to buy than rent" or "gov will always save you" will seem like white noise.
  13. I think sometimes this forum participants is in a duality of worlds. The haves and have nots. The haves are typically earning well past national or area average salaries (certain sectors such as finance, tech, sales, medical this is possible), managed to save some aside, may have some investments and so forth. For them, obtaining a house, albeit a lot poorer value than say their parents got for the same labour / earnings, is certainly possible. The have nots on average national / area salaries ... well, they'll be a statistic on the unemployment stats soon enough. Even trying to get a 2 bed flat is a stretch. So yes, tell yourself "its affordable". It probably is. For you.
  14. It can be hard to find your bliss when everyone in society is telling you to get on the housing ladder, which then forces your mind on "how do I get that deposit + income", not "how can I be effective / contribute towards fabric of society and be somewhat fulfilled". I fell in this trap for a little while. Broke it thankfully.
  15. Indeed, that or say hello to the NINJA (no income no job no assets) loans again. Would you want to invest / do business in a country that has resorted to NINJA loans?
  16. Easier ad cheaper than you think to book in an attack (be it DDOS etc). Hence the site's address went null (a blunt way of sending all traffic -> /dev/null). Once again, its another positive signal that maybe things are turning this time. Did we see much of this in the previous years?
  17. It's all noise till furlough scheme ends. That hive-mind is actually showing signs of breaking on housing to be fair to them. Took a while....
  18. One is a capital market which helps power growth and sometimes innovation - this is optional. And CGT does apply to share sales, so "unearned" income is being treated fairly. The other (housing) is a basic human requirement that financialisation has seized its grubby little hands on. CGT here to date for "unearned" income? ZILCH. No wonder the average person piles in. Hence the review Sunak ordered, as the gov's spending is finally catching up with them and they're forced into a corner (need the extra revenue). If anything it shows that Sunak understands where the country's wealth lies - mainly in property.... easy target in that case.... Looks like that £300bn+ cannot be wished away by inflation after all?
  19. I know many IT pros who have handed in their notice on their rentals and headed home ?
  20. Absolutely, they are actually an important signal in trends IMHO. The more they post (or copy+paste in some cases), the brighter their concerns show.
  21. Nice to see someone gets it. WFH is the death nail for commercial rents. I've now heard multiple times of businesses giving up their commercial lease due to COVID. One example where before they gave up their lease, they made some staff redundant. Once lease released, staff were re-employed. Isn't that magic, money going towards real productive staff instead ?
  22. Same. Only issue is that £300bn+ just clocked up. But what's another £100bn?
  23. Similar to someone I know with not great credit record, but deposit to hand and above average income (£43k) for the area. £70k.... wonder how long this can last.
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