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Einstein71

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About Einstein71

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  1. If you take somewhere like Canary Wharf as an example. You have One Canada Square which is the main tower, 50 floors and around 10,000 occupants. Anyone working above floor 10 is out of action for at least 2020 because the lifts accommodate only 3 or 4 people socially distanced and it is just unworkable. Also who is travelling by tube these days. Anyway 137,000 people work in Canary Wharf, if we say 80% are unlikely to return in 2020 then that means every one of the 300+ bars and restaurants are out of business . If we say an average of 20 workers per business (and this 300 figure d
  2. The over 70's are HUGE consumers. They have huge pensions, some have made hundreds of thousands by downsizing, why do you think the cruise industry has grown so quickly in the past 10 years. We have a local restaurant (Sussex), a posh one, 45quid per person for 3 course lunch/dinner, open 7 days a week, probably 20 tables+.....anyway 2 month waiting list, even Wednesday lunchtimes are packed out, and guess what..more than 80% are over 70's. Go to any pub or restaurant on a weekday and they are rammed with over 70's. Take away these customers and you take away every penny of profit these
  3. Im from Sidmouth originally and I would avoid Seaton/Lyme Regis area. Seaton used to have a holiday camp there and has a bad reputation locally South Hams has a better climate and if you avoid Salcombe the rest of the area is reasonably priced
  4. I am looking at buying in the Devon area as well, I grew up there so know a lot of people in the area and it seems to be totally random when it comes to house prices. I have seen lots of places up for sale for actually less than what people paid 15+ years ago and then lots of places selling for more than double the price paid 5 years ago. This was explained by a friend who works at a well known Exeter estate agent. He said they have people who specifically target "Londoners". These are properties they know will appeal to the retirees or people escaping the Capital. The standard es
  5. A friend was showing me a property someone he knows has been trying to sell now for almost a year, this is a house they bought 16 years ago, a house which at the time they thought they had bought cheap because it was the builders own house in a development of 8 barn conversions. The house has close to 1/2 acre of gardens, manicured over the years and well kept, a few changes in the house fair bit of money spent (new boiler, bathroom, kitchen etc). It is in a very sought after area, 6 miles outside of Exeter in lovely East Devon. Anyway they expected a price tag of close to a million b
  6. Without giving too much away I have worked in the Games Industry now for more than 20 years and currently hold a Global role heading up recruitment for a company with 3000+ employees and a worth of around $8billion. I have actually written the "state of the industry" reports for the trade rag Develop. When it comes to the industry it has always been pretty unstable in that people are hired and fired for projects, very much like the TV/Film Industry. When a game comes to an end or a game is canned it inevitably leads to redundancies. There is also lots of contract roles as you would e
  7. As someone who works in the Games (Gaming is Gambling) and Special Effects sector in the UK I can confirm that during Covid this industry is up by about 30% and has a very robust future
  8. Fully agree, a certain corner of England has been feeding off of debt and reckless corporate expenditure for too long. On our close we have a family, husband worked as some management consultant, she doesn't work. Two 4x4's, 3 holidays a year usually to Maldives, St Lucia etc and doesn't she just love making sure everyone knows. They sold a house in 2005 for £430k which they paid £185k for in 1998. Bought this house on our close for £480k and have been spending fortunes on extensions, new kitchen etc. Anyway 5 months ago he loses his job. I hear through the grapevine it isn't a problem b
  9. My take on NI is that it was all a big Nu Labour experiment. TB rode into town, unleashed a Mowlam and a shed load of cash and promises. Here you are Gerry, nice little wage, position in power and some international credibility for you and McGuiness. Mowlam even did deals with the Ulster Loyalists in the Maze. Everyone was paid off but then there was the bigger problem which was poverty created by unemployment. NI was a place no one really wanted to invest in because of the troubles....not to worry Mr Blair will bring us the money and so it came via the Public Sector. Close to 40% of all
  10. Yes I definitely think it is time to buy. I have spent years expecting certain things to happen which clearly now will NEVER happen. I have listened to people on this forum who talk as if they clearly know what they are talking about and like all economists they do, but it is total theory. In practice the collective will to keep house prices high is just too strong. In my area (Sussex) we haven't seen drops at all but I understand in other areas there have been localised falls where it was just plain silly. If I look at in unemotional manner and in my area only which is the South East
  11. I know that in 3 years he has received from me what he originally paid for the house 15 years ago. I assume he has paid some interest over the past 15 years so may be another 1-2 yrs rental to cover that. The house is his only house in the UK, he owns a house in Kenya where he has lived for a lot of his life. He isn't a BTL investor he is just somebody who decided to rent his house out rather than sell it. The house is more or less in its original state apart from a new front door and new boiler. For his initial investment of just shy of £50k he now earns himself an income of around £1
  12. I dont know why people get so uptight about this kind of post on here, I think it must really hit an extremely raw nerve. I discovered that the house I rent was purchased for £47,500 in 1996. I have been paying £1,350pcm in rent for 3 years, very minimal repairs required so I have more or less bought the house for the LL. In 2020 who knows that average rent may be £2000pcm. We may have higher interest rates....but only in my opinion if the economy is on solid footing in which case you may be looking at HPI again, may be not. Eventually if you have the income to ride out the rough patc
  13. LOL What a load of Drama Queens !! At the end of the day it will hardly effect your man in the street one jot. What they are talking about here is a load of banks losing a load of money, some of them will go to the wall, stock markets will fall by about 25%. We will have emergency meetings, the Chinese will get involved and for a week we will have "economic uncertainty" but Brian will still be selling his bread in the bakers and Susan will still work Saturdays down Sainsburys. When the dust settles we will have some people losing billions in investments/pensions, a load of out of work ba
  14. Yes exactly my point. I dont see distressed sellers, banks will be looking to repossess as few properties as possible and so people struggling to pay will be offered alternative payment schemes. Repossession will be only the action of last resort, the banks want to avoid any downturn in the property market caused by fire sales.
  15. I remember being told about the "crisis loan" in the early 90's and going to Woolwich Benefit Office, collecting my ticket and waiting an hour plus for the hordes of people to collect their £45. The story was always that you couldn't do your weekly shop, you had to say you hadn't eaten for 2 days and then it was guaranteed. You could go back a few weeks later and they could only take £2 or something from your income support and you could end up getting £200, if you played it right you could then avoid having to pay it back. I am assuming this is just a way of them swerving around that pay
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