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About monkeyman1974

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  1. This is a very good point, plenty of housing in UK is below replacement cost (say £150 psf for a new build), including Blackpool; and indeed where I grew up on the east coast.
  2. Property Industry - investment management and associated suppliers... (boo hiss etc) - mostly commercial / retail Numerous friends are on reduced salaries 10-30% down. Slim chances of bonuses (always a large component), save for in more niche businesses. Plenty of large scale consultations (JLL, CBRE etc). One lost job and now on temp contract elsewhere. Leasing agents losing work all over the show. Take Up (sq.ft.) West End and City was 13.74m in 2018 and 11.48 in 2019. For the first 2 Qrts in 2020 it is... 2.95m.... I don't need to explain what is happening to retail space demand. Industrial (last mile logistics esp) is in fine form. Open ended funds still closed.. Slow moving bloodbath
  3. I work in close proximity to LA.. sorted out Teams, including external participation (ie me) in a week or so. My sister, large financial services industry.. no Teams / Zoom yet
  4. I'm astonished by the cost of cars on people's driveways.. Those big XC Volvos, can be £60k plus.. You've got to earn £100k PAYE (give or take) to have £60k to spend. So yes, must just be to put us all on finance deals. I'm surprised the market for 3-4 year old "exec" cars isn't much cheaper; given the supply must be massive. Maybe people hanging on once the hire period is over..
  5. If as a society we prioritise extending the life of the old and infirm; grandstanding about an abundance of caution, while assuming science/nhs is free of its own agenda, then this is what we get (economic ruin). That's our choice. We neuter government by criticising its every breathe, and free of responsibility; it dribbles from promise to promise.
  6. Might be time for Govt to cease DB. If implemented in tandem with removal of tax relief, it'd be more plateable. Maybe allow tax free cash to be removed to reduce pension to an acceptable minimum (above level of benefit entitlement) to put a cap on it once and for all.
  7. why would we censure those with a different view? (daft trolling aside) it's perfectly reasonable to hold conflicting and nuanced opinions, while still wanting prices to come down. for example, some on this board think that prices should be below the cost of building (say £150 psf including fees, excluding land, for a pretty basic Bovis box); I will argue the toss on that point while still thinking prices are generally ruinous to the UK plc
  8. Its fair to say the average councillor age is boomer; so that's an good observation. I expect they also believe they are property experts.
  9. Been thinking about this topic: is buying shopping centres a bad idea ~ in short, yes; and it has been for well over a decade (if you put the Westfields to one side); with a few oscillations in the market (say 2014, when the silly PE backed investors thought the pricing correction had been overstated) trending down intrinsically are LAs particularly bad owners of shopping centre ~ in some respects no; especially given the lower cost of capital and wider remit beyond rent collection (plus can fill them with libraries, surgeries etc) so why are LAs such bad investors (and I include office assets like that crap deal Runnymeade just "snapped" up in Bracknell) ~ they simply don't have the staff, or the structure to reward competent people, or the culture, or the clear strategic vision to be anything more than single cycle investors; and they are marks to be sold to by the big agencies (Cushman have cleared up in particular). They are amateurs, badly steered by a lack of true strategy, and bad advice, that only gets paid on deals done and now, NAO has offered it's consultant that will make sales more likely (as it will restrict pwlb for non investment purposes, if LA has used pwlb for financial purposes elsewhere) into a falling market. Will the politicians running these LA's have the balls, or experience, or enthusiasm to fight - doubtful So, I think it is a bad idea, but it needed have been
  10. No, but they won't be open; as the net income will turn negative (empty rates, insurance, service charge).. Once you go below a certain occupation point (say 60%, but varies on the rental levels) these things are in a terminal spiral.
  11. I think it's a slight red herring to think of the competence of those managing these investments (competence can be purchased). The concern should be LAs meddling and mixed objectives, and inability to be a credible market counterparty
  12. I've long argued that HPI is overstated by capital expenditure on homes Applying CGT to all homes would discourage VAT avoidance (cash to builders) significantly, as one assumes these payments would (should) be deductable
  13. Oh I quite agree. Mine was a response to another posters rant.
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