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House Price Crash Forum


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Everything posted by JustYield

  1. I need to go for a lie down - I've finally agreed with one of The Eagle's posts.
  2. Exactly what I was saying. I bet your Dad was born a few years earlier than you, so had learnt the rules of the game ahead of others, like you.
  3. Exactly. Everyone is thrown into adulthood "short property". It is surely therefore immoral to mess with the supply and demand of this basic human need, by enabling a debt-fuelled pyramid scheme to build where those slightly higher up can Lord it over you, by dint of having the foresight to be born a few years earlier. (BTW, for any Mumsnetters out there, please don't attempt to characterise me as some bed-sit dwelling saddo.)
  4. I agree with this, having thought about it for nigh on 8 years here. I'm just surprised people aren't more angry. That's what's wrong. Not the BTLers, doing the best they can (under the present rules) for their families. It's all those spineless people who just go along with the status quo and can't see the wood for the trees that irk me. How on earth can you have the playing field tilted so in favour of the BTL landlord and so against the honest tenant? It's utterly bonkers and would not stand in France, Germany or any other civilised country.
  5. Is any passive income "right"? I don't know. Certainly I think inheritance tax and land tax should be brought to bear on this problem with extreme prejudice; so we don't end up with a landed class who have done nothing to earn their position.
  6. Agree with this part, not sure they're bothered about repaying debt quickly these days though. BTL, without some good market timing, is a very marginal and boring investment.
  7. The westminster city hall building is being converted to flats, on Victoria street. Being pushed big time in hk and singapore. The first phase of battersea power station conversion is practically sold out from se Asian buyers, it seems.
  8. I've no objection to Buy to Let. If you've bought something free and clear, you have every right to rent it out. It's Borrow to Let that should never have been allowed to become so (relatively) attractive... for all the well worn reasons debated here over the years.
  9. But a generation is the long term for that, er, generation. OnlyMe's analysis seems close to the truth to me.
  10. Ironic, since most IT nerds are themselves consumers of prodigious quantities of pron. I guess Steve knew.
  11. The phrase you're searching for is, "The wife can stay irrational longer than the market can remain solvent."
  12. I'm sure some of the crowd were there in a self-aware and ironic way. Some. http://www.youtube.com/watch?v=F5qRs2dBoK0 Maybe not.
  13. Is it time to short Yen and JGBs, Kyle? Just tell me when.
  14. There's a huge push on in Singapore at the moment for London BTL. I recently went along to a JLL off-plan exhibition for the redevelopment in Finsbury Park N4. The sales girls were lovely. Looked ready to head out to the clubs right after they'd finished work. I briefly went through projected cash flows with one young lady. You know how they estimate the rent? They take 5% of the sale price and call that achievable rent. Then at the bottom of the cash flow, after all the working out, they show Gross Yield: 5%. Anyway I kept a few of their cards.
  15. Liz Jones still making friends: Sold for 500K less than she paid, after major refurb
  16. My contribution, use / don't use as you see fit: Make sure to check out the RSA Animations, e.g. One conceit you could try - have an older character explain the way it is and the younger character asking probing questions and saying a lot of "Wait what?!", "Run that by me again...", "How does this ladder thing actually work again?" type things, to expose the lunacy [of people thinking that they are all relatively wealthier when the price of an essential asset increases, without any downsides at all...] A bit like the ExtraNormal animated dialogues already mentioned above (they can be very effective btw), "The Bernank" can be heard in all sorts of places now. In the background you could show who is actually benefiting from HPI at the expense of normal families without being too Zeitgeist about it. (Talking of which, don't put distressing background tones and music underneath, god I hate that technique.) Add something on the immense peer pressure there is/was to buy leading up to the collapse of Northern Rock etc (braying bores at dinner parties, patronising Halifax ads on TV, "End to boom and bust" rhetoric). Also add in something about households now requiring 2 full time workers to pay for the basics... see Elizabeth Warren, death of the middle class lecture. Keep it in the 3-5 minute range if you can.
  17. It was VW actually, the short squeeze was executed by Porsche. It backfired on Porsche of course and its ex-directors are mired in legal proceedings for years to come - they blatantly lied to the market, essentially. "A number of prominent funds, including Greenlight Capital, SAC Capital, Glenview Capital, Tiger Asia, Perry Capital, and of course the Carlson Fund Plaintiffs, lost billions of Euros in a matter of hours. And the carnage was not limited to U.S. and British funds. One of Germany's wealthiest men, Adolf Merckle, personally lost hundreds of millions of Euros on a short position and eventually committed suicide." I'm sure they are more careful about assessing real free-float these days...
  18. Thanks for that Bloo - a sad state of affairs. Drivers can lose all perspective and go absolutely bat shit mental to be held up for even 20 seconds, even in the overt context of keeping children safe. It's odd. (Parents on foot shouldn't add to the problem though.)
  19. Indeed. This flat-lining is known technically as a lateral, which was entered from above - so should exit to the downside, c-p. To paraphrase the OP, "whatever it's doing, it ain't going up, that's for sure".
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