robbingXpat

KEN CLARKE, the Tory chancellor who invented two more taxes to keep us poor even poorer. 'Flight' tax and 'Insurance Policy' taxes @ just 2.5%, now running at about 20%? We must be close to being the most taxed nation on the planet, thanks to Tory governments? Income tax on earnings and savings, 20% VAT on non foods, cars, servicing, home maintenance, the list is endless. Tax on drink, smokes, fuel, insurance, holidays, carrier bags, environment taxes, etc. etc. When will they realise we spend more on tax than on living? I remember earning £25.92 in 1972, got my 1st mortgage, and had disposable income (spare £'s) for a pint, etc. thanks to far fewer tax grab schemes. Now, in retirement I'm still being taxed, not wealthy, but just enough £'s to be another tax paying slave!

Apparently so! I received a 'valuation' for my 2016 Skoda Superb from one of those 'We buy any car' business's in April, of £11,108. 15 minutes ago I received an email from them, did I want a new 'valuation'? Followed their link, new 'value' is £12,898. I've no understanding of the 'mechanics' for house price or car price valuations. (Retyred, and currently following the Tour de France, 5+ hours a day of TV adds for stair lifts, ready made meals, life insurance, and equity release, etc. can't wait for the TdF to end and ignore daytime TV!).

+4.5% overall. Largest element increase was the police budget!

Their both the same!

For what it's worth, not a lot! HPC was my housing 'authority' (still is), so we STR in Jan 2008, and to downsize. Initially in 2008, and 2009 the interest on our 'house' pot paid the rent, then the financial crisis killed interest rates! Struggled on until 2014, then bit the bullet again, and bought a small 3 (2&1/2!) bed, new build. Very pleased with the first 6 years, no DIY, no maintenance bills so far, very energy efficient, only down side is parking spaces for visitors. But after 3 previous houses from 1972 to 2008, new kitchens, new bathrooms, rewires, and 100's of other projects, this new build ticks all our needs, especially regarding it's economy of ownership. Still regard HPC as a necessary site for varied and valuable views. Retired, we both look at 'Rightmove' and 'Zoopla' most days, now following the price drops, occasionally dream about a bigger home (more bedroom space), then consider how little this one costs to heat, and the dream is no more. I do miss the BIG, BOLD, script of a certain contributor of the 2006-2008 years, still respect his views of all those years ago.

What chance do our youngsters have, to ever enjoy a 'disposable income' life style? As I quoted recently on another thread- Glos, new build 2 bed flat, reduced by 16.7% to just £52,500 for a 1/4 share of the flat! Then 'rent' the remaining 3/4 for £336.88 per MONTH, then £125.14 SERVICE charge per MONTH! Just £462.02 per month plus the MORTGAGE, plus gas, elec, water, rates, etc. for a 2 bed 'box'. *** (EDIT- To add 1/4 share = 25% ownership, but 100% of the maintenance costs and repairs!) *** CRAZY, CRAZY, STUPID, STUPID times, then throw in your pension pot towards the deposit, what have you got? ZERO pension, zero savings, just debt for life! As a 'silvertop'. 'boomer', etc. that I'm referred to being, this situation is very distressing, I have great sympathy for the lack of opportunities that are available to our youngsters, for employment and home ownership. Perhaps, just perhaps, 2021 will be the year for an overdue HPC, to give the youngsters some hope, providing jobs are available? Our 2 & 1/2 bedder (2 'double' bed, 1 single bed, new build) 'box' will lose some value, fine, it's a home, not an investment!

Not sure if I'm in the right category, but my observation this morning. GLOUCESTER, new build 2 bed flat, bargain, reduced by 16.7%? Originally 'valued' at £262k, or buy a 1/4 share at £63k + rent, + service charge. Now, reduced to 'only' £52,500 (mortgage?) for the 1/4 share, + £336.88 rent, + £125.14 service charge, PER MONTH. How in God's name is this remotely 'getting on the property ladder', seems like huge debts to me! Thoughts?

2008 and 2014 were our decisive years! Addicted to HPC from about 2005/6, I took the anticipated values (-10%, -20%?) to fall seriously. Decided we knew the future market direction (DOWN?) in 2008, and chose to sell up and rent! In renting we did try different locations (good experience), but decided to buy again in 2014 before being priced out. Our 2014 purchase (October) has seen a rise of approximately 25% in 6 years, a new build, so no repair bills. In conclusion, my thoughts are exactly the same now as 15+ years ago, far too expensive, with a recession and huge unemployment figures just around the corner! I took onboard all the advice I could find 13-15 years ago, and still got it wrong, so certainly not offering any advice now. But, for sure prices must fall in 2021, the only question is, by how much? So, with much unemployment and future prospects not guaranteed, who will be buying the new property 'bargains'?

(TORY DONOR Business's?).

lol. Brown borrowed/spent WAY, WAY LESS that Osborne did, tax breaks for the rich and poverty for the poor, a true Tory. Brown's worst crime way bailing out the gambling bankers ('Fred the shred', etc) and allowing them to keep huge bonus's, for failure! Those bonus's should have been cancelled when they lost the dodgy 'bets', and made to repay them, for such reckless behaviour.

GLOS, yes, but not like we'll see this winter! In 1989/90 we saw our then home 'value' go from approx £120k to about £75k, but it all returned (and more) by the time we STR in 2014. Property ownership is like snakes and ladders, it's not like on TV, profit, profit, profit!

Great faith in this site in those long gone days, STR in Jan 2008, expecting the predicted crash. I waited, and waited, and waited a bit longer, until October 2014, watching prices heading North. So, reluctantly, we bought again in 2014, and witnessed a 25.7% increase in the past 5 & 1/2 years. Yes, now expecting to see that 25.7% 'gain' wiped out, maybe even more, but it's only a home, not a business investment. We could have taken the BTR route when down sizing in 2008, but not our bag, seen too many trashed homes on TV. So, I'm still a HPC fan many years later, but I fear a real crash later in the year (pretty sure it was coming, even before Covid-19). Not expecting it to effect us directly (we're not moving!), but it should seriously help the younger folks that have sacrificed much to save, save, save, for their own home. Very pleased if those folks get their dream, their very own front door, without worrying about being moved out of their rented home. The times they are a changing, is ERIC still around? Much enjoyed his contributions.

Similar thoughts. Have a Skoda Fabia (£20 tax) as a runaround, plus a top of the range (even got TV!) Skoda Superb (£30 tax) for long trips. Both purchased at 4 years old for about 35% of their 'new' price! But just one bike, for good weather days. Very rare, but if my wife needs to drive she takes the Fabia and I'll use the Superb. Never looked or considered a 'monthly' cost posh motor, far too tight to change by lifetime habits of buying around the 4 year mark.

National builder ('Developer'!) in our small market town has smelt the coffee, and reduced their prices by £20k, but still way beyond the reach of local wages! £20k is just the beginning, reductions will have to continue if they hope to sell anything.

I'm not tech savvy, but 'googled' and saved, spot on. I prefer 'Zoopla' because of the price history, now have it on both. Happy property addict (just one 2 & 1/2 bed semi), always check what's happening locally, neither selling or buying, just an interest, like HPC!