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a j

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Posts posted by a j

  1. On 01/04/2020 at 13:43, Confusion of VIs said:

    Do you apply that to all businesses, presumably you think no one should no one get a bailout.

     

    Broadly speaking (I'm sure there are notable exceptions) I don't believe in bailing out business owners. If there state wishes to support an organisation it should receive shares in return for investment. 

  2. 9 hours ago, Smiley George said:

    Thanks, fingers crossed.

    Out of the landlords we've had over the years he's been fine, when things have broken he's had them repaired pretty quickly, other than that he's left us alone.

    Having said that he's getting the thick end of £28k a year from us. Even then we're always walking on egg shells, and are very anxious when we have to tell him the washing machine has conked out...its ridiculous when you think about it.

    Good luck. I've just read todays emails - one from the letting agency talking about a renewal in July......

    Perfectly reasonably written but they are never normally prompt on such things. Also read a couple of posts from younger people on forums who are being asked for guarantors in places they have rented without for a couple of years. One was told it was now a legal requirement.

  3. 2 hours ago, winkie said:

    So can't sell, can't buy......and thousands of people with cancelled bookings for holiday lets, along with very many tenants having trouble finding the money to pay their rents......is there any positive reasons why anyone would want to have the responsibility of holding a rental property in todays climate?......keep a wide berth.?

    Plus the word is out now - if there is ever a crisis you don't need to pay your rent. But anyway - I'm sure all the sophisticated investors understood political risk so no issue there. 

  4. 23 hours ago, Bruce Banner said:

    If it's a letter write "not known at this address" across it and pop it in a pillar box.... then go incommunicado.

    Of interest don't most estate agents earn most of their money on commissions? How are their staff coping right now?

  5. 23 hours ago, Bruce Banner said:

    If it's a letter write "not known at this address" across it and pop it in a pillar box.... then go incommunicado.

    and scan a copy removing your name. Plenty of people are starting to post these and much of the population has a relative in trouble at the moment.

  6. 3 minutes ago, PeanutButter said:

    I’ve been in touch with my tenants to assure them if they need help to let me know. My leverage is tiny, I don’t rely on tax breaks. Any decent landlord should have a contingency fund for emergencies. 

    The market needs to be cleaned up and tightened. 

    Brilliant. Many thanks.

  7. I think an immediate period of 3 month where no rent - commercial or residential - is required to be paid is required. Universal - no bureaucracy. If anyone has time while 'working' from home its worth making sure that these who are struggling and deeply scared at the moment are aware of the no evictions rule, and that no courts will be hearing cases for ages.

  8. Anyone else getting annoyed with squealing landlords? I've engaged with some online - none seem to realise that they run a business with business risks, and that legislative changes and disease outbreaks are the kind of risks one may take into account when investing. 

  9. 5 hours ago, simon2 said:

    Kind of monitoring the cheaper areas of London (but not cheapest), and some surrounding areas.

    Haven't seen any type of bounce, but also not seen much in the way of price cutting either.

    A few properties that went off the market before Christmas came back at the same price. Dismaying that some stuff I have on my saved list has started to shift, although they were on the market a long time.

    As always there are a few things that come on which are below market values, these get snapped up almost instantly.

    Volumes seem low.

     

    Very much my observations. There doesn't seem to be a lot of demand or supply. Anything which is a little cheaper goes pretty quickly but a lot of flats are stuck on Rightmove with owners not willing or able to drop the prices enough to shift them.

     

    Which areas are you following?

  10. On 14/08/2019 at 03:02, GregBowman said:

    It was but unfortunately the 80’s and 90’s were the best time to be young and in the workforce - pre globalisation to suppress wages and a dose of inflation to keep them going up and of course cheap houses - so massive disposable income

    So born a little late to be a handed on a plate boomer 

    My memory of the the mid 90s was that if you were young and had some office experience you could go places fast. Computers were taking over and people who could use them could skip 10-15 years ahead in their careers. 

  11. On 30/07/2019 at 16:00, Orb said:

    It's refreshing to read perspectives like this. I'm a gen x'er, born in '79, and have been a lorry driver all my working life. No kids, no wife, no divorces, no mortgage, no house, no pension, good health. 

    I've worked my way into a driving job where I'm relatively comfortable and happy, with average of 40-ish hours per week, for what I consider to be a good salary for what I do (significantly above UK average). Yet I've always felt an angst over not 'progressing', mainly into management, training, or running my own vehicles. But when I've considered those roles, they've always looked too boring, pressured, and insecure, whereas driving a lorry is as stressful, or not, as you want it to be, and generally more secure (ten-a-penny job). And as crap as many aspects of the job are, as much as it lacks social status, and as much as transport's always a cut-throat race to the bottom, fundamentally, I'm always on the move, always with an audio-book playing, always on my own - job's a winner in that regard as it suits my character. It's as if I'm being paid to read books, thus freeing up my spare time to do things other than reading. 

    BUT... the angst that my boomer parents never had is always there. My thoughts rattle my mind often: "Forty now, now other skills (apart from a degree in psychology), no house, no pension, no desire to 'progress' or change career. You should be developing" etc... But life isn't too bad at the moment, and moving up the ladder would depress me, I'm sure. But the should I/shouldn't I? question is there constantly, especially as I watch my gen x IT friends do really well with houses, kids, marriages, pensions etc. My peers are at the buying 4 and 5 bedroom detached house stage now. I'm in a rented granny annex. BUT, I'm happy. It's true that comparison is the thief of all joy. 

    If I were an HGV driver (and I really envy people who can do that) I'd look for all towns where there is a decent flow of work at decent pay rates and check the best deals for property. Ideally somewhere with public transport - if anything happens and you can't drive you don't want to be imprisoned.

    Then try to research cheapish areas - find out why they are cheap and look for one where they downsides (for example poor schools) don't bother you. South Leeds/ Ponte area - you might get something good for £100k. Other places are out there. Do your research then buy when you have the cash or can face a low mortgage.

     

    Anyway, I'll bet that if you met with a proper sample of fellow students on your course and compared your life and income to theirs you would feel pretty positive about it. IT/ whatever skill is required can do great - but shortages don't generally last forever.

  12. I'm looking in north London - zone 4 and 5. There seem to be some slight reductions in established areas, much more notable in East London. As a general theme there is very little supply. Areas which really should have 20 flats for sale at any one time in whatever price bracket you look for have at most 5-10. Some priced fairly high (needed for next move?). Others priced a little lower seem to move quickly.

  13. Just now, Killian said:

    The line that says first time buyers make up more transactions than existing homeowners moving house, is shocking. I would expect given there are so many more homeowners and the size of some chains that existing homeowners would be far higher proportion.

    Hard to know what is causing this, all I can think of is an abnormally large amount of probate (unlikely to vary significantly over time so unlikely), landlords selling up, new build numbers increasing vastly or existing homeowners not moving. Probably all involved but is another indicator the market is in trouble.

    Have landlords been put off buying new properties by the tax changes? 

  14. 11 minutes ago, prozac said:

     It has been this way as far back as I can remember, I have only come across a few exceptions to this rule. 

    Generally the middle class do this, the working class did not or really left their sprogs with nowt perhaps why they have been disenfranchised 

    Divorced parents left little 

     

     

    Not sure how far back you can remember? I recall when people might borrow the legal costs from their parents (which they repaid) - large gifts from family were unusual.

  15. 19 minutes ago, IsThisRealLife said:

    I spoke to a colleague about it and he told me his parents had given him £100k to buy his first house. Was a bit of an eye opener for me!

    Thats been my experience. Pretty much a given in Greater London - and people are becoming more and more aware of it. Any flat I've viewed had couples with their parents. 

  16. On 4/22/2018 at 12:23 PM, The Spaniard said:

    Yesterday, while queuing at a supermarket, I had a brief conversation with a couple of Bristol University students.

    They were occupants of a seven bedroom HMO, a private rental house for students, so exempt from council tax.

    They each had their own room at £120 per week excluding utility bills, and were obliged to pay for 52 weeks, June to June, so £6,240 p.a.

    They were each paying £9,000 p.a. tuition fees and reckoned they were running up total debts of about £25,000 p.a., so £75,000 for a three year degree course.

    At RPI plus 3% p.a. they will be paying (out of their take home pay) about £4,500 p.a. in interest alone as soon as they earn over £21,000 p.a.

    After graduation they will still need somewhere to live, unless they return to their parental home.

    I feel for them, their future is bleak indeed.

    A couple of thoughts. £120 a week is a fortune for a student. I tried looking at potential universities with a younger relative - there seems little information about relative costs of different locations. Even on The Student Room there is little comparison of living costs.

    The repayments are for earnings over the lower limit (£21k rising to £25k shortly) - so won't pay £4,500 pa until they earn something around £70k. However there seems to be a huge number going onto masters degrees which cost another 6% of income over a lower level. Add that to 9% of salary for undergrad we've managed to add 15% to income tax rates. Get your first managerial job - pay 55% marginal tax! This is socialism through the back door.

    I wonder about the effects of this. It doesn't seem worth sweating for a promotion or taking a worse commute for a better job on those tax rates. 

  17. 2 hours ago, CunningPlan said:

     

    Perhaps it is because some of us are not in the lucky position to take the big gambles, knowing that the school fees are taken care of and even if it all goes **** up there is a big inheritance coming down the line.

    I've noticed this over the years. People bought expensive houses with little in savings to cover for loss of job, ill health etc. Likewise they pay hefty school fees with no great financial cushion. When I asked those I knew who seemed pretty sensible and clued up most did have a plan B if the worst came to the worst - move back to large parental home, work a basic job in a family business. 

  18. 7 hours ago, Wayward said:

    Who on earth would pay £500K whilst knowing the price was £248K just four years ago...?!  Can they point to any examples in history when prices have rocketed by so much in such as short period of time and then not crashed...?  I would be interested to learn of any such examples...???

    Different this time ??  that's what they always think until is isn't.  Anyone paying these prices is going to be poor for the rest of their lives.

    I was looking around zone 3/4 East London a few years ago - might well have been some of the areas warriors friend was in. As an observation some places (Leytonstone, Leyton) have massively improved in this time. Places I wish I had bought then 2012/13 have doubled or more - but the area has also changed. I hope they crash soon...

  19. On 1/9/2018 at 9:24 PM, Greg Bowman said:

    I notice your in St Albans where we moved our office to. I have lived in South Herts for 20 years from Potters Bar to Hertford, Brookmans Park etc.

    We are renting in North London at the moment and can’t wait to get back

    35 mins drive on a Saturday night to Marble Arch. Choice of 4 train lines (Potters Bar is 17 mins to kings cross and a ‘slow’ train to Moorgate from Cuffley  35 mins, Uber £40 tops home after a night out) and at a push Cockfosters tube, some great schools and if you know where to look some affordable housing for someone with an income of £75k

    Never got the fascination with Brighton/Sussex/Hampshire etc nice to visit but as you say a playground and frankly miles away, can understand people living in the country but why live in an expensive urban environment so far from London ? - for normal families Hertfordshire has a lot more to offer, as does North Essex (not to be confused with South Essex) places like Dunmow, Thaxted etc 

    Actually I've lived in (very) North London for a few years now - but occasionally look on rightmove for flats near to Potters Bar station. As you say, the Herts area has a lot to offer, and I find being a little further south adds a lot to the driving time going north from London. Are you seeing any positive downwards moves with prices? I'm not seeing any good news at all - if anything there seems to be a gradual rise at the moment and places selling pretty quickly.

  20. 11 hours ago, longgone said:

    I often wonder the mentality of the people prepared to pay 500k for 600 feet in zone 6. They are ruined if you ask me.

    Thats what beats me. I love Kingston and would love to live there, but it used to be relatively affordable due to the limitations of transport links. Any idea how people afford this, or is turnover low enough that inheritance / HPI gains leave enough people able to pay?

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