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House Price Crash Forum

LaceUp

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About LaceUp

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    HPC Poster
  1. Simple really, if only we could all read the market like this guy!!
  2. And found this ridiculous article and thought I should share it with the HPC guys... http://www.ricedelman.com/cs/education/article?articleId=232&titleParam=11%20Great%20Reasons%20to%20Carry%20a%20Big,%20Long%20Mortgage Incredible!!
  3. LaceUp

    Zopa

    Bump. Is the real benefit of Zopa the fact that interest is paid gross, unlike all other savings I know that are paid with the tax deducted. How many Zopa investors are declaring there interest payments on there tax return? Is it a good tax dodge or do Zopa have to reveal all to the tax man for us. Any thoughts?
  4. I really am worried about how my kids will ever be able to buy a property. Nobody ever seems to point out that if future generations don't have to spend all their money on a mortgage they can spend it on other stuff - surely this would help the economy rather than a huge proportion of income going to the banks.
  5. My wife and I have been prudent over the years when the economy was booming. We ran our own businesses and earned good money and paid off our mortgage, saved, made some pension provision, educated and brought up 3 kids. I have always thought it best to pay off any loans asap and save the interest. In 2007 my wife wanted to move to a £850k house. I was very worried about the property market and what looked like a certain property crash (about then I discovered this site). I talked her out of it. Then Brown went on his spending binge to save the banks and try to get himself re-elected, and 'saved' the property market from a 'devastating crash'. Now I am really worried. Instead of a quick drastic property and bank crash, which would have shaken out all the over leveraged, overspending, over borrowed, over MEWD - families, property investors, BTL'ers, inefficient and over borrowed businesses etc - we have this drawn out recession which is dragging the whole economy down - including my business. I know a house crash is painful and I was in a negative equity situation back in the 80's. But at least it hits the people who created and profited from the bubble in the first place - not the entire population - many of who have not even managed to get in on the property bandwagon. I know so many people who spent it like Beckham in the good years and were completely over stretched. But since the bank bailout and the ridiculously low interest rates - which is hitting my hard earned savings returns! - these people are actually better off, paying less on all their mortgages and BTL's that were not previously showing a monthly return but were bought for 'capital growth' - they are know paying them a healthy monthly income as rents have gone up! I still have to get my kids through uni and now they are talking about putting the fees up. I really am worried about how my kids will ever be able to buy a property. Nobody ever seems to point out that if future generations don't have to spend all their money on a mortgage they can spend it on other stuff - surely this would help the economy rather than a huge proportion of income going to the banks. I feel like giving up and going over to the dark side and just start borrowing and spending - to hell with the future! In summary the last 3 or 4 years policy has protected the feckless, spendaholic, credit addicts - and shafted forward planning and sensible people like me. Needed to get that off my chest.
  6. Many of you will be aware of the The Bank of England Act: http://www.bankofenglandact.co.uk/act/ If you have not signed up please consider doing so. Also a contributor has made a suggestion on: http://yourfreedom.hmg.gov.uk/restoring-civil-liberties/enact-the-bank-of-england-creation-of-currency-bill-2010 Please consider making a comment on this 'your freedom' website. We need to get at least 30 comments for the thread to be taken notice of. See below the OP's message sent via linked in:
  7. I suggest the OP takes a look here and signs up! http://www.bankofenglandact.co.uk/
  8. I love this - it's so clever. They promised to ring fence NHS spending. So they are simply giving the money to GP's to spend instead of all the pen pushers and managers working for PCT's. Hence saving a fortune on over inflated salaries. It should save us all a fortune. Many GP practices will need to employ more ordinary average payed admin help to assist them so some of the jobs will be saved this way. However they won't be employing the fat cat managers and consultants and building them new office blocks and car parks! Bring it on.
  9. LOL - My thoughts neatly summed up in a picture.
  10. I have a number of friends who are mortgage advisors and always looking for the positives in the market - they have been quite bullish over the summer - now they are a bit gloomy and talking about a double dip and dead cat bounces. Even the bulls are feeling bearish. Laceup
  11. If an agent gives a valuation on a property that is below that of similar advertised properties in the street do you really think they will get the business? I can't stand EA's but they have to work within a potential clients expectations, it's the sellers who need to be more realistic.
  12. Every thing Merv says at the moment I can translate roughly as 'don't bother saving - get out and spend - and pleeese do it NOW'
  13. We have yet to see the worst IMO. People will not walk away from their property all the while they have equity and some value left in it. When prices drop further more and more people will hit the tipping point - this will accelerate things markedly. The artificially low rates are just slowing the rate at which we reach this point. We really have not seen extensive negative equity yet - but we will.
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