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Mr Mephisto

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About Mr Mephisto

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  1. Has anyone got any views on the LLoyds "Placing & Compensatory Open Offer". Should I take up my options or forget it?
  2. NI based developer with substantial land banks in NI + ROI. Apparently owes multiple lenders - as would be expected with such huge borrowing - many of the Irish banks expected to take a hit
  3. I have heard on the grapevine that one of the big players is just about to be declared bankrupt owing the banks a very, very large sum of money - allegedly in the region of £600 - £800 million - quite a staggering amount of money - what will that do to the already battered Irish Banking sector ?
  4. I heard this joke the other day. What’s the difference between the Ireland Banking Sector and the Iceland Banking Sector? Answer - one letter and six months. I apologise if this one has been posted already
  5. Good find Rock-n-Roll. I thought that the closing words were fairly relevant to the most recent debate "its value frequently bore little relation to profitability from farming". I have lifted two quotes from the article that I thought were poignant "farming and fishing were the only sectors of the economy that had not slipped into recession" "However, the fact remained that borrowing to farmers was largely underpinned by the huge capital base on the industry in the form of high land values, which showed no sign of falling. Land appeared to be the ultimate security, though its value frequent
  6. Hi Yadayada. Any up to date figures on land prices? Are you aware of any tracts of land up for sale and what farmers expect to get for it? Are we in for a bout of "forced selling" in the farming community? Is the state of farm finances in dire straits and are they about to flood the market with land at knock down prices? Have the banks called "time" and forced them to "sell the family silver"? I do think that land as a whole has been grossly over-valued and is long overdue a correction, however it does all come back to supply and demand with the constraints being on the supply side i.e. actua
  7. Hi Hermy - I see from the same article that Goldman Sachs are predicting further falls down to $30 a barrel "In a separate study published yesterday, another group of Goldman commodities analysts predicted that world oil demand would fall by 1.7million barrels a day, helping to drive oil prices down to as low as $30 a barrel in the first quarter of next year".
  8. I found this article in The Times "The leading Goldman Sachs oil analyst, who had been one of the market's biggest bulls this year, predicting that crude could hit $200 a barrel, has slashed his 2009 forecast to $45, blaming “incredibly weak demand” as the global economy plunges into recession". http://business.timesonline.co.uk/tol/busi...icle5333424.ece
  9. Further to my last post I would like to clarify that any such purchase should be viewed as a purchase of “recreational” or “utility” land not “agricultural” land. True agricultural land would obviously not fetch anywhere near this value. The price of any such land also seems to depend on the quantity being bought. If you are truly buying “agricultural” land you would be buying in bulk i.e. 100+ acres or more. Under 10 acres, under 20 acres, under 50 acres and over 100 are all different markets and command different premiums. The elephant in the room however is as always “The Credit Crunch” and
  10. Hi Doccyboy, I live in the Mid Ulster area. Our local property market has taken one hell of a beating over the past year or so, however what you are after seems to remain at a premium. I know of one such small holding which totalled 36 acres (I think this is still classed as a smallholding – still slightly more land than you were after!) + a old decrepit farmhouse that sold within the past couple of months for £12,000 an acre for the land + £200,000 for the farmhouse – a small knocker-downer that will leave the new owner fighting the planners for the next 2 years in attempt to get any decent
  11. Thanks Traktion. I now know who to contact if I need any car buying advice! I did think about adding a smiley at this point, however I think that not only do I need a dictionary for abbreviations but I would also need one for smiley’s.
  12. Thanks Doccyboy. I think that the list would need expanded a bit !
  13. Hi MD, as you are well aware, I think that your contribution to the debate is extremely valuable. You give a completely different perspective on the debate. You look at the issues from multiple different angles. You do not in any way reiterate or regurgitate what has already been said again and again. You should not be personally attacked for attempting to shine some light on the subject. I think that you have been more than honest in your disclosure of your property interests. I share your concerns for the economy in general. The HPC website obviously started off as a debating forum on hous
  14. Thanks Traktion. Without wanting to appear completely stupid, what is IIRC? I presume RL is real life? You see my need for an HPC dictionary!
  15. Hi Traktion. I'm still running as scared as everyone else with anything to do with money at the moment. The interest rate cut is saving me an absolute fortune with regard to my mortgage repayments - I'm lucky to have a relatively old tracker which doesn’t appear to have a collar or a floor with regard the bottom rate that I will get charged - or at least I think I have - I have had a look through my original mortgage documents and I see no reference to a "bottom rate". Still I will be saving my pennies like everyone else and trying to pay down my debt. I have done quite a bit of fantasy car
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