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Jack Sparrow

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Everything posted by Jack Sparrow

  1. your spot on-stop spending -start saving-just remember, "in the land of the blind the one eyed man is King", no that cant be right, inflation going up erodes savings, so start spending, no hang on a minute, if we start spending we import more inflation cause the interest rate goes up and stokes inflation, no I was right first time, start saving, oh no hang on a minute , inflation erodes savings, but spending my money stokes inflation so if I er , um , er................................................
  2. Those areas of the country that experienced the greatest rises over the last few years have been fortunate in many ways to also enjoy greater employment prospects and higher wealth, out in here in the sticks there is a certain level of satisfaction in seeing the city suffer. I dont think you will find any sympathy out here in the Shires. One of the compensations of rural life is knowing that although we dont enjoy the prosperity of Londoners, we dont have to sit on the tube wetting our pants.
  3. I dont think this case has much to do with the current economic downturn, but it does raise the question of letting strangers, albeit "professionals" in to your home, this person was a psychopath!!??.
  4. If it was your daughter asking this question i might understand her ignorance but not her lack of morality, but then like father like daughter by the look of it
  5. Woodbines, they were for wimps, we smoked Capstan Full Strength, or coffin nails as they became known, the ten bob note, worth four pints of bitter and ten smokes, those were the days, inflation at 12% interest rates at 8%, you could'nt lose, just borrow as much money as you could, you were "earning" at 4% The miners strikes that caused the three day week that bought down Ted Heath in 73, James Callaghan the labour leader "Crisis What Crisis" Heathrow I think in 78 on return from his Hols, the country was paralysed by strikes, bodies went unburied, refuse uncollected, rats everywhere, petrol rationing in 74 during the first oil spike and then again in 78, Slade in the charts, priceless memories.
  6. At the moment the Euro is killing UK manufacturing PLC as commodity brokers switched trading in dollars to Euros, the chemical industry (what is left of it in the UK) is paying a 12% premium on Raw materials compared to competitors on the continent due to the exchange rate alone, i am already advising customers of a minimum 30% increase on componded product for this year in quarterly increments with no guarantee of price stability for next year. This will trickle down into the wider economy as it affects everything that the consumer buys, and I mean everything, if there is a "crash", home manufacturing would probably welcome a readjustement to the exchange rate as long as the Pound is allowed to strengthen. As our exports have already been discounted by the Govt as irrelevant to the Balance of Payments and they seem to accept massive defecits a stronger pound should be a positive.
  7. Politicians never speak candidly, their objectives are different to the interviewer, the interviewer wants to get at the "truth" the politician wants to disguise the truth usually because it is unpalatable and he also wants to keep his job for as long as possible. In this case it sounds as though Alastair needs some extra coaching to help with his presentation, sounds like a sales opportunity for someone
  8. Yes, you are talking complete balls, as are most of the respondents to your enquiry. If people take your advice they will lose their home, if that does'nt matter to them then fine, walk away. However, most people have responsibilities, and for most people losing the roof over their head is an unwelcome prospect. Here are your options:- Debt management:-Borrowing more money is not the answer, within a debt management programme the client's creditors are contacted and offered a repayment programme that is affordable, it does not reduce the debt but most creditors will suspend interest payements while in the scheme although they are not obliged to. The client can then repair their credit by PAYING THEIR SECURED DEBT repayments, this can then lead to:- Full and Final settlements:- Your Debt management counsellor will negotiate with your unsecured creditors to settle the outstanding balance at a discounted amount, this can be as little as 60% of the debt, this process assists the client in arranging a re-mortgage to consolidate the balance and creates more headroom by improving LTV's. Sale and Rent Back:- Their are schemes available from BTL Landlords that allow you to sell your home, rent it back for twelve months, get yourself back on your feet and then re-purchase your property at the original sale price. you also have the option of continuing to rent the property. IVA:- a govt run scheme that helps you get out of serious debt problems, it is administered by an insolvency practitioner, they run your finances for around 5 years it is tightly controlled and has no leeway should your circumstances improve, if you default under this scheme you risk automatic bankruptcy. My advice to people in trouble is don't suffer in silence, seek help!!!
  9. What I want to know is, "WHO KILLED THE BEAR", Don't ask this in the Forest of Dean whatever you do, its fighting talk,
  10. your advice is excellent regarding options for managing debt, may i add a few others, If you are having financial difficulties consider:- Debt Management:- practioners will bundle all of your unsecured lending in to a single monthly payment, and will negotiate a reduction or freezing of interest. IVA:- If you have unsecured debt of £15k or more this is an option, this is a govt. run scheme to help people out of serious debt problems and if agreed by your creditors will get you debt free in 60 months Sale and Rent Back:- There are companies out there that will purchase your property and rent it back to you, some also offer to sell the property back to you after twelve months at the original purchase price, its an option if you need breathing space and cash to alleviate immediate debt problems. Full and final settlements:- Debt practioners will negotiate your unsecured debt. finally, do not go into denial, ACT and seek advice straight away
  11. Ask yourself why you decided to buy a house in the first place, if it was to obtain a roof over your head, with the knowledge of ownership at the end of your mortgage term then what are you worried about? If you "invested" in property in order to get on the bandwagon, and were sold the idea as part of some get rich quick scheme, then tough, because if you bought in the last two tears you are going into negative equity.
  12. ________________________________________________________________________________ ________________________________________ You must know by now that the BBC is actually the GBC (Government Broadcasting Company), they slavishly follow their masters line, after all without our money doled out to them by the governmant of the day they would for the most part be stacking shelves at Tesco's, mind you, at leat that way they would obtain a more rounded view of the cost of a basket of groceries??"!?. Economics Lesson:- Inflation is too much money chasing too few goods-if you supply excess funds to a market you get a "Bubble", this is what the Banks and Building societies, govt, BoE refer to as free market economics, which I actually support, the reason for the current crash is nascent greed by borrowers and lenders alike it has gone on unfettered and un-policed by the Govt. BoE and the FSA. After all, if you borrow money, you have to pay it back! and everyone who has lived through the last two recessions knows this, I feel sorry for the idiots who were taken in by Blair and voted in a govt that does not understand simple economics, the Labour Party have two gears, fastforward and reverse, that is why we have a boom and bust economy-and the bigger the boom the bigger the bust, good luck, cos' your gonna need it!! Jack Sparrow.
  13. In a word, recession, there has never been a housing slump without a recession, we are currently in uncharted waters as we have a "credit crunch" causing the current downturn in house prices. the likeleyhood is that if we are at the beginning of a slump the situation will not just get worse, (10/15% down), it will be a meltdown (25-40% collapse in prices) Incidentally the credit crunch is a misnomer, the americans parcelled up their poverty into CDO's (Collateralised Debt Obligations), bits of paper holding a value based on the mortgages they represented, they were valueless, they then sold them to the rest of the World and we are now paying for it. you've got to hand it to the yank's, clever or wot?.
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