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Tummybanana

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  1. While trying to promote my new forum www.bankout.co.uk this weekend, which deals with trying to organise people together to get a decent rate of interest and / or punish the banks ,I have found quite a few people who think that savers are some how *lucky* to have a wad of cash. Almost as if its some sort of miracle and didnt involve going with out or working hard.

    You have to agree, though, that those who bought a house for £100,000 in 2000, then STR'd in 2007 for £200,000 have only made that money from *luck* rather than any particular financial acumen. And that's what's piqueing the OP, not those who've judiciously put away 15% of their income every month since they were 16.

    Heck, we made £30K on an investment of £1000 (for arrangement fees) by sitting on our **** in a house for five years, and we're RUBBISH with money

  2. Right, two live options, assuming 100% mortgage.

    Out of the 19 properties currently available for rent in my town of 20,000, there are two which are both for sale or rent.

    1 bed flat

    Asking price: 129,000

    After 10% discount: 116,100

    @5% interest

    £775.67

    Interest: £483.33 / Rental: £525

    Renting = £500 p/a worse off.

    -----------

    3 bed semi

    Asking price: 250,000

    After 10% discount: 225,000

    @5% interest

    £1,504

    Interest £937.50 / Rental: £775

    Buying = £1,950 p/a worse off.

    So it's not a simple matter of one being automatically better than another - despite my earlier post - not by any means Certain properties will be cheaper to rent than buy, and others vice versa.

  3. If your house you own is worth say 200k,and you own the house out right you are loosing the interest that the 200k would earn in the bank,so you never live for free!.ok rates are low at the mo but this is only temporary!

    It's pretty simple.

    BOE: 1%

    Inflation: 3.1%

    If interest rates beat inflation then the Renters "win."

    If inflation beats interest rates then the Mortgagors "win."

    Cash purchasers? How long's a piece of string?

    As most Renters will probably become buyers at some stage in their lives, however, all they're doing is postponing the inevitable; working on the assumption that there's a brighter horizon in the future.

    We're going to have low interest rates for a good two or three years yet - there's no financial capital in making thousands of people homeless so that a cohort of pensioners get an extra £5 a week on their interest.

    And after that five years, who knows? The BTL dust will have settled, and only professional landlords will be in the market. If the cost of living goes up, nd the market will bear it, they'll raise their prices. The mortgage company, however, can only charge a fixed fee, regardless of what the pound buys in the future.

    If we assume that an individual is happy to buy what they'd rent, then rental works out at about twice the price of interest payments on a mortgage for the same property - I worked this out before from properties that were either for sale or rent. Finger in the air maths means that the property needs to drop by a third since purchase/valuation for the renter to avoid paying for more than the equity loss. I can only compare to my own town, however, so if people want to find local equivalents, then we can start looking at the real figures. I'm sure, though, that if someone's distressed enough to discount their rent, then they're distressed enough to discount their house price.

  4. i rented for 9 years at 280pcm. (i only do cheap rent so i can save and invest in gold).

    i worked hard and saved hard.

    the rental cost was £30k with no repair bills. a mortgage repayment for that period would have cost 60k

    this year alone i have saved 20k on falling house prices and also made 25% on my cash investments.

    so i have a snowball of roughly 50k earning 25% a year and cant be repossessed. my tenancy is a secure HA.

    had i bought in 2001 i would have paid off 40% of the loan. owing a further 80k. (this is at tiny 2001 prices).

    even at PRE BOOM prices it now seems like ill beat you to owning that house outright

    by saving, investing and renting cheaply.

    things are so bad landlords are falling over themselves to fight or keep a tenant, thats going to get a lot worse (cheaper) as unemployment bites and repo's pile onto the housing market.

    when you buy, all your purchasing is a dead static life of slavery.

    Woah, woah, woah!

    If you're taking 9 years ago as your starting point, then to show parity, you need to take the house price then as well - which would be about £50,000.

    The other issue is that a £500 mortgage now will be £500 in ten years' time, even if £500 only buys you a mars bar. Conversely, rents will be revised according to the landlord's situation and RPI

  5. Personally I believe Ken is spot on and he also understands the need for higher interest rates over the course of the cycle.

    As for the HBOS Lloyds thing:

    It was a bit like forcing a fine upstanding young man into the hands of a syphilitic old whore - and we know who the pimp was.

    Aw, were the poor banks encouraged to invest in a product which turned out to be not as profitable as they'd hoped for?

    Makes a ruddy change.

  6. i care not for any tory politician or labour politicians words.

    they are all empty words.

    clarke was a f**k up when he was in power. hes a f**k up now.

    brown shoed comedy fat mouthpiece of the priced out masses ?

    bull shitter he is.

    Plus he was the architect of the National Health Trusts competition, and the instigator of PFI.

  7. My God, if they're going to force people to learn a language it might as well be a USEFUL one.

    Most people in Morocco speak about four or five languages; it fair put me to shame. At first I thought this was just for the tourists, but even the lowliest berber nomad seemed to talk arabic, french and english.

    I'm determined that my kids are going to be fluent in another language by the time they're adults, but you can't learn a language from books, you need to live there - you need to fail a hundred times before you succeed. And that's the problem with the English; we don't like doing something unless we can do it well.

  8. Gordon's real intention was / is to make the U.K. a socialist state.

    His means of achieving this was / is unlimited lending to the lower classes so that they could buy things that only the middle and upper classes could normally buy.

    The banks were previously happy to do this as it increased their profits and led to political recognition for a few and greater income for many. However, they now realise this policy failed.

    Brown now wishes to continue this policy through the nationalisation of the banks and manipulation of statistics. He is just about the only person who still believes that high house prices and 125% mortgages are a good thing.

    Discuss.

    An interesting slant. Here's mine.

    Gordon and Tony bemoaned the lack of social housing after Thatcher sold it off. Companies weren't willing to invest because of the poor returns.

    Gordon and Tony implemented minimum requirements on new estates, but still weren't getting the volume of new properties they wanted for social housing.

    G&T came upon a cunning plan. After removing tax relief from pensions, and the poor state of the stock market after 9/11, it was clear that investments were going to move into property. They encouraged this, effectively steering private investors into taking risks by constructing property. As prices started to rise, more wealthy individuals moved into BTL not as a long term investment, but a way to flip and improve property. Vast blocks of apartments were built, new housing estates sprang up in every nook and cranny, and the risk still lay with private speculators who were convinced the wheels would never come off.

    In 2007, the wheels came off. Taking receipt of banks' mortgage books, those assets which have previously been held by individuals and hedge funds suddenly drop like a white boxer. In comes Gordon, taking control of the banking sector, and taking the devalued property off the market. Whether it's 'worth' £500,000 or £10,000, it's still a place for someone to live, and that's all he cares about, and the losers are the private sector who bore the risk, took the benefits and now suffer the liabilities. The only problem is that those individuals in the private sector who are suffering are not necessarily those who gained previously. Nationalised banking in five years will, I think, be profitable for the government - Northern Rock has already paid back a larger proportion of the loan than they were scheduled to (Wonder if there are early redemption penalties). Hopefully, too, by then we'll be out of Iraq and Afghanistan - with Obama pulling out we won't be doing it on our tod, surely? - which should save a packet in the long run. Plus, cheaper heroin!

  9. Mutual trade and voluntaryism!

    You can always make it yourself under capitalism. The only way to keep you from raw materials is for socialists to stop you using force.

    The problem is violence.

    The solution is to stop using it.

    But I'm too busy making something else to trade with. However, a thousand people make what I make; only ten make what you make. I don't have the luxury of time to change my manufacturing processes, because I will die through lack of food. Because I am not as clever as you, because my parents were not as clever as your parents and could not afford to hire a teacher, you can charge me far more for your product than I can you for mine - which means that I have no profit margin and you have much. With your greater profits, you can monopolise the resource.

    There are other tyrannies than physical force.

    The problem is lack of compassion - you seem to believe that an individual, left to their own devices, will trade honestly, fairly, and contribute to welfare of the needy, including those with no families to support them.

    I'm sorry to tell you that this is not what happens in countries with minimal states.

  10. Socialism is the use of force to achieve social change.

    So fiat money, regualtion, licencing etc are all socialist. All governments are socialist and everything they do is inherently socialist.

    Socialism doesn't work and is evil because you cannot do anything good by using violence and threats.

    Whereas Capitalism - oh, you don't like that word, do you? INDIVIDUALISM, then, works through blackmail and extortion.

    I have this product or service which you need to exist. Unless you give me money, and dance like a performing monkey, I will let you die. Once you have my product and I have your money, you will realise what I have given you doesn't actually save your life, and will die anyway. I do not depend on your repeat custom, so I shall take the money. I might even loot your corpse so that I can sell my product to another sap.

  11. Pretty much sums it up.

    How? How on earth does Socialism get involved in this?

    The reason we're buggered up is because some individuals - who have a lot of money - decided to make more money by lending it out to people - who wanted to make money - but couldn't pay it back. Exactly the same thing has happened under the Republican Administration in the US; hardly the biggest fans of Socialism

    The only Socialist aspect to the whole debacle is the fact that the state has had to step in to shore up the failing banks, because people have become too dependent on aggrandising themselves through the pursuit of capital and bourgeois lifestyle trappings.

    Socialism would mean 100% tax and distribution according to an individual's needs - which is kind of what tax credits do, admittedly, but they're hardly to blame for the credit crisis.

  12. There are some specific gripes I have with Browns handling of the economy, I shall cover them and what I believe the Tories would have done.

    Well, this is what they'd have ACTUALLY done if they'd won in 1997. Much of it is now Labour policy, interestingly.

    Over the next parliament, we will achieve our goal for the government to spend less than 40% of our national income.

    Our aim is to ensure Britain keeps the lowest tax burden of any major European economy.

    Over the next parliament, our aim will be to achieve our target of a 20p basic rate of income tax, while maintaining a maximum tax rate of no more than 40p.

    During the next parliament, we will maintain an inflation target of 2.5% or less.

    The goal which we set ourselves in 1995 is to double living standards over 25 years.

    We will cut the small companies rate of corporation tax in line with personal taxation as we move towards a 20p basic rate

    We will continue to reduce the burden of capital gains tax and inheritance tax as it is prudent to do so.

    In the next parliament, we will reform business rates to reduce the cost that falls upon small businesses.

    We will introduce "sunset" requirements into new regulations whenever appropriate so that they are automatically reviewed or dropped after a specific period.

    We will therefore insist that the whole of the public sector adopts the same stringent rules that we require of central government in justifying the benefits of new regulations against their costs.

    No Conservative government will sign up to the Social Chapter or introduce a national minimum wage We will insist at the Intergovernmental Conference in Amsterdam that our opt-out is honoured and that Britain is exempted from the Working Time Directive: if old agreements are broken, we do not see how new ones can be made

    As Project Work succeeds and demonstrates that its costs can be met by the savings from getting people into work, we will extend the programme to cover the long-term unemployed nationwide

    We will also develop an innovative "Britain Works" scheme which uses the experience and ingenuity of private and voluntary sectors to get people off welfare into work.

    We will use the Millennium Lottery Fund to transform the computer facilities and information links available in schools, libraries, museums, voluntary organisations and other public places after the turn of the century.

    Our aim is nothing less than tariff free trade across the globe by the year 2020

    We will introduce a Competition Bill to take forward these proposals in the first session of the next parliament

    We will give priority to future reductions in personal taxation that help families looking after dependent children or relatives by allowing one partner's unused personal allowance to be transferred to a working spouse where they have these responsibilities.

    Our goal is that by 2000, more than half of the employees of Britain's larger companies will own shares in those companies.

    We will continue to raise the threshold for inheritance tax as it is prudent to do so.

    We will make it easier for small employers to set up personal pension plans for groups of employees.

    We will create more flexibility for people who save in personal pension plans to continue investing in those schemes if they subsequently move to jobs with company pension schemes.

    We will also create flexibility for employees with savings in Additional Voluntary Contributions (AVC) schemes to take part of that pension earlier or later than their main company pension.

    At the start of the next parliament we will set out proposals to provide all young people entering the workforce with a personal pension fund paid for through a rebate on their national insurance contributions. At retirement they would be entitled to the full pension earned by this accumulated investment. This could give them a pension significantly higher than they would currently receive from the state. But they will be guaranteed a pension at least equal to the current bask state pension, increased in line with inflation.

    We will provide new guidance to ensure social workers properly reflect the values of the community - focusing their efforts on those families who most need support, and minimising unnecessary interference. Social workers working with children will receive special training to cope with the often heart-rending cases they face.

    We will raise standards through a new regulatory framework which will apply the same standards in both the public and private sector.

    We will also remove the power of local authorities to operate care homes where this is in the best interests of the people for whom they are responsible.

    We will review the direct payment scheme, and provided it has been cost effective, we will extend it to other users of social services.

    We will introduce a Respite Care Programme. This will enable family members with heavy responsibilities caring for a relative to take a much needed break. We will also offer more practical advice for carers who want to go back to paid work.

    In the first session of the next Parliament we will implement our partnership scheme for long term care, making it easier for people to afford the cost of care in old age without giving up their lifetime savings.

    We will intensify our current initiatives of inspections and checks, including more home visits, to crack down further on benefit cheats. We will introduce benefit cards across the country. We will establish a Benefit Fraud inspectorate to monitor local authorities' performance. We will also improve the sharing of information between government departments to catch more fraudulent claims.

    We will also carry through our draft Bill, creating the option for those buying flats to choose a new form of commonhold ownership.

    Public landlords will have to sell houses which are available for occupation yet have been left empty without a good reason for more than 12 months.

    We will make it easier for those receiving incapacity benefit to volunteer by removing the 16 hour weekly limit on their voluntary work.

    First, we will set national targets for school performance that reflect our objective of ensuring that Britain is in the top league of international standards across the whole spectrum of education.

    Second, we will require every school to plan how to improve its performance, and to set targets which relate to similar schools and national standards.

    Third, we will give all parents full information on the performance of their child's school

    Fourth, to underwrite our pledge, we will ensure action is taken to bring any under-performing school up to the mark.

    We will publish all school test results, including the results of tests of 7 and 14 year olds.

    We propose also to assess every child at five.

    We will also introduce a new test for 14 year old children that covers the whole National Curriculum - assessing progress before they choose subjects for GCSE.

    We will allow for on independent inspection of education authorities and intervene directly to raise standards where education authorities are letting children down.

    We will establish a more rigorous and effective system of appraising teachers, which reflects how well their pupils perform in tests and exams: this will identify which teachers need more help and, where necessary, which teachers need to be replaced.

    We will extend the benefits of greater self-governance to all LEA schools. We will require local authorities to delegate more of schools' budgets to the schools themselves. We will give them more freedom over the employment of their staff and over admissions. And, where they want it, we will allow them to take over ownership of their assets, so they can make best use of the resources.

    We will continue to encourage the establishment of more specialist schools in technology, arts, languages and sport. We aim to help one in five schools become specialist schools by 2001.

    We will allow all schools to select some of their pupils.

    We will help schools to became grammar schools in every major town where parents want that choke.

    We will give students between 14 and 21 a learning credit which will enable them to choose suitable education or training leading to recognised qualifications up to A levels or their equivalents.

    We will continue, year by year; to increase the real resources committed to the NHS, so NHS spending will continue to share in a growing economy

    We will publish more information on how successfully hospitals are treating patients so that they and their GPs can make more informed choices between services in different hospitals and help stimulate better performance

    We shall implement the new Primary Care Act which will enable all family doctors to provide a broader range of patient services within their surgeries. This will include ("super surgeries" and practice-based cottage hospitals that can offer faster and more local treatment.

    We will extend nationwide our plans to enable more nurses to prescribe a wider range of drugs for patients, recognising their contribution to primary care.

    We will not close any long-stay mental hospitals unless it can be shown that adequate care services exist in the community.

    We will promote the Private Finance Initiative which will unleash a new flow of investment funds into the modernisation of the NHS.

    We will require all government agencies to apply for Chartermarks.

    We will ensure private ownership, competition and regulation continue to deliver lower prices and better services for consumers.

    We will extend competition for domestic gas users, and introduce competition in the water industry, starting with large users.

    We will guarantee to preserve the national identity, universal service and distinctive characteristics of the Royal Mail, while considering options - including different forms of privatisation - to introduce private capital and management skills into its operations.

    We will transfer Parcelforce to the private sector whilst ensuring that every Post Office in the land continues to provide a full parcel service at an economical price.

    We will push Challenge Funding further to reward effective local government.

    We will keep up the pressure for higher standards and improved value for money by insisting on compulsory competitive tendering.

    We will legislate to remove legal immunity from industrial action which has disproportionate or excessive effect Members of the public and employers will be able to seek injunctions to prevent industrial action in these circumstances. Any strike action will also have to be approved by a majority of all members eligible to vote and ballots will have to be repeated at regular intervals if negotiations are extended.

    We will complete the successful transfer of British Rail into the commercial sector.

    We will bring forward plans to privatise London Underground. Proceeds from privatisation will be recycled in order to modernise the network within 5 years - creating an underground system to serve the capital in the 21st Century. We will regulate fares so they rise by no more than inflation for at least 4 years after privatisation. We will also protect services - including the Travel Card and concessionary fares.

    We will support chief constables who develop local schemes to crack down on petty crime and improve public order.

    We will fulfil the Prime Minister's pledge to support the installation of 10,000 CCTV cameras in town centres and public places in the 3 years to 1999. We will provide £75 million over the lifetime of the next parliament to continue extending CCTV to town centres, villages and housing estates up and down the country that want to bid for support.

    We will introduce a voluntary identity card scheme based on the new photographic driving licence it will, for example, enable retailers to identify youngsters trying to buy alcohol and cigarettes or rent classified videos when they are under age.

    The courts would be able to impose an order - a Parental Control Order - on the parents of children whom they believed could keep control of their children but were refusing to do so.

    We will give the courts the power to impose speedy sanctions on youngsters, involving wherever possible an element of reparation to the victim. The probation service - rather than social services - will be responsible for enforcing community punishments for under-16s.

    We will establish a national crime squad to provide on improved nationally coordinated approach to organised crime.

    We will extend electronically monitored curfew orders nationwide for those aged 16 and over.

    Anyone convicted of a second serious sexual or violent crime, like rape or armed robbery, will get an automatic life sentence.

    Persistent house burglars and dealers in hard drugs will receive mandatory minimum prison sentences of 3 and 7 years respectively.

    We will restore honesty in sentencing by abolishing automatic early release.

    We will also take action to allow a judge to stop a defendant from personally questioning the victim in rape cases and other cases where the victim is particularly vulnerable.

    We will bring forward in the next parliament a package of measures designed to modernise the current systems for dealing with City fraud.

    We will change the structure of legal aid to ensure that it, like other vital public services, functions within defined cash limits.

    We will continue the fight against drugs through a coordinated approach: being tough on pushers; reducing demand by educating young people; tackling drug abuse at local level through Drug Action Teams; saying "No" to legalising drugs; and working with international agencies and foreign governments to resist the menace spreading.

    Over the next decade, we aim to raise some £25bn of new private investment in housing estates by encouraging tenants in more than half of the remaining public sector housing stock to opt for transferring their homes to new landlords. These transfers will only occur where tenants choose this mute to improve theft estates.

    We will use this approach to regenerate the worst housing estates and transform the lives of those who live in them - targeting support for programmes to improve education standards, employment and crime prevention alongside new private sector investment.

    We will provide sufficient hostel places to ensure that no-one need sleep out on the streets.

    We need to protect the best of the countryside whilst ensuring good jobs and living conditions for people who live there.

    We will use the planning system to ensure that more new homes are built on reclaimed sites in our towns and cities. We will aim for more than 60 per cent of all new homes to be built on derelict sites.

    We will introduce a new Rural Business Use Class to encourage job creation in the countryside.

    We will increase support for schemes which promote care for the countryside - like Countryside Stewardship.

    We will tighten up control over food safety by appointing a powerful and independent Chief Food Safety Adviser and Food Safety Council to advise government

    We will insist at the IGC and elsewhere on measures to stop quota hopping and prevent the vessels of other countries from using UK fishing quotas.

    We will seek to ensure that all European countries have to raise animal welfare standards

    We will publish a Green Paper on rabies protection, setting out all the options including the existing controls, early in the new parliament

    We will encourage the use of Lottery money to train young athletes and artists, with revenue funding for bursaries, concessionary tickets to professional performances and support for young people's organisations and productions.

    A Conservative Government will seek a partnership of nation states. Some others would like to build a federal Europe. A British Conservative Government will not allow Britain to be part of a federal European state.

    We will argue for a flexible Europe which fully accommodates the interests and aspirations of all its member states and where any new proposals have to be open to all and agreed by all. We will not accept other changes to the Treaty that would further centralise decision-making, reduce national sovereignty, or remove our right to permanent opt-outs.

    We will retain Britain's veto and oppose further extension of qualified majority voting in order to ensure we can prevent policies that would be harmful to the national interest. We will defend the rights of national parliaments and oppose more powers being given to the European Parliament at the expense of national parliaments.

    We will take whatever steps are necessary to keep our frontier controls. We will resist attempts to change the inter-governmental nature of co-operation in justice and home affairs. We will not accept the development of new legal rights that extend the concept of European citizenship.

    We believe it is in our national interest to keep our options open to take a decision on a single currency when all the facts are before us. If a single currency is created, without sustainable convergence, a British Conservative government will not be part of it.

    If, during the course of the next parliament, a Conservative government were to conclude that it was in our national interest to join a single currency, we have given a guarantee that no such decision would be implemented unless the British people gave their express approval in a referendum.

    To give parliament more time to consider legislation thoroughly we will extend the Queen's Speech to cover not only legislation for the immediate year but also provisional plans for legislation in the year after that

    Edit: Nitty Gritty here. http://www.conservative-party.net/manifest...manifesto.shtml

  13. Surely its the deregulation of the FSA that led to this?

    I'll give you my mea culpa moment.

    In 2000, the wife and I were living in a one bed flat in Peterborough. We were paying about £300 per month in rent. When she started working, we decided to look for somewhere a bit bigger. We found out that a mortgage for a £50,000 property would only cost £325 a month (IIRC). "Bargain!" We thought, "Let's buy instead!" So, we shopped around, and found a property going for 55K. We managed to talk the owner down to 52K, but found out that the best rate for us was a 95% mortgage. However, we didn't have a deposit.

    Now comes the confession. The property was VALUED at 65K (Although as no-one had paid that, I don't know where they got that from). So we agreed that the bank would lend us 95% of the value of 65K, and that on paper the mortgage info would say that we paid 65K for the property, when we paid 52K. We were assured this was legal, although the vendor's solicitors needed convincing, and at one part were going to pull out. If that practice was, or became, commonplace, then HPI becomes a self-fulfilling prophecy; house prices rose on paper to reach the LTV, and as a result historical records showed house price rises.

    Oh, and I voted for Labour in '97, and don't regret it a bit. Mind you, it was in Aldenham, so didn't stand a bloody chance. I sincerely believe that if we hadn't stuck our oar in on Iraq and Afghanistan that most of the manifesto pledges would have been carried out and we'd be in a better place financially.

    It'd be great if people didn't wheel out the whole "Labour didn't get the popular vote" trope, as well.

    1997 election Popular vote:

    Labour - 43.21%

    Conservative - 30.69%

    Lib Dem - 16.76%

    2001 election Popular vote:

    Labour - 40.67%

    Conservative - 31.7%

    Lib Dem - 18.26%

    2005 election Popular vote:

    Labour - 39.91%

    Conservative - 33.86%

    Liberal Democrat - 23.09%

  14. Right, piss or get off the pot time.

    As lots of people seem to be of the same mind, I've submitted a "single block of flats" petition to Number10 - don't see why it won't get through, I didn't use any names or defamatory language. MPFLATS if it gets published.

    You do have to give your name and address to prove that you're a British Citizen, though, so it's not for the fainthearted. But faint heart never won fair maid, and all that.

  15. That is exactly why rates can't rise drastically. The fact is none of us have got a clue what is going to happen. These are completely uncharted waters, the base rate has never been so low and never have so many banks screwed up globally in the same way. Japan's interest rates have been tiny for a decade because of their problems and for all we know the same situation could happen in the US and the UK.

    All we know at the moment is that we are a good 18mths behind the US and are largely following their pattern. They have had low rates and kept low rates for a lot longer than us. I reckon a couple of years of low rates then steady rises but don't expect the base rate to be above 5% for many years. It would solve nothing and help nothing for them to take rates rapidly to 7% and beyond. They cut rates to help and it has helped some people, savers may not be making as much money but that just entices people to put their money in stocks and shares, which is also what they want. You can't get half as much of that with high interest rates.

    You and me, Acerman *pointy head thing*

    The reason we've had financial problems are because people aren't actually letting their money work for them. They're either sticking it on a property and waiting for it to rise, or they're handing it over to a bank and letting them work out exactly what to do with it - no-one's taking responsibility for making their money grow. Now property's shot, and the banks are hamstrung, the days of sitting on your money and doing bugger all with it are long gone. The only way to make money from investment will be to actually do research about companies, and invest in those with good strategies and backers - either directly or through the purchase of shares. Banks will be places to store your money, not to make it. The days of casual investing are long gone.

  16. What to read stuff on Experts-Exchange.com for example search it from google then scroll down past the lame attempt of hiding the answers to see the real answers. Do the same for the FT.com, search it from google and you gain access to subscription content. Anything google can see you can see just by making your browser appear to be a spider. :lol:

    I'm glad you put the hyphen in; I always thought it was Expert-Sexchange.com, which is a VERY different site.

  17. In time I fully expect to see those areas with streets and streets of houses that used to be boarded up (before they became desirable properties worth £100,000 +) boarded up again.

    Exactly.

    It's a bubble. All of the job losses, all of the HPC, all of the urban decay, it's just restoring things to the way they ought to be in the first place. Sorry finance guys, estate agents, builders, and everyone who benefited indirectly from their success, but you shouldn't have had those jobs in the first place. Enjoy the time you had.

    When the dust clears, we should be where we'd have been without the bubble in the first place, just with a shed load more city centre flats ripe for State or Housing Association Ownership.

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