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docus

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About docus

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  1. 4 favorites Follow Paul MasonVerified account‏@paulmasonnews Markets slump as world realises main growth engine in hands of incompetent, secretive police state that thinks it can dictate equity prices
  2. I'm seeing quite mixed signals in the area i'm looking in. Some things are still selling fast. I found a little place I liked on a pleasant road where similar houses sold for a max of £180k in 2014. The EA put it up at a guide price below that level to drum up interest. Their strategy seemed to work - every time I drove past to have a little look there were people viewing it. In the end, it went to sealed bids. I really liked the place and I put in a bid a few k higher than the house next door sold for last year. But, in the end it went to someone who offered WAY over that, £35k higher than last years high. After that experience I found another little place and this time - feeling a bit more HPC-ish - made an offer around 12% under the asking price - it was immediately refused. The seller then reduced their asking price a little, and it still hasn't sold. I'm waiting to see if they ever call me back Overall, there doesn't seem to be that much coming onto the market in this part of the London commuter belt and things generally don't seem to be selling as fast as they were a few months ago. So maybe there's a bit of a slowdown. In the meantime I'm cooling my heels a bit and hoping IR rises / changes to BTL tax / Greece / China will have some effect. This thread and others have seemed like little islands of hope in the ocean of HPI
  3. So, I try to pre-empt my posts being dismissed by stating that I'm not a troll, during a time when the label troll is being thrown around to dismiss anyone with doubts... Then, guess what happens Anyway, I'm now planning to buy somewhere small and in need of work using my savings as a deposit (yes, 95% LTV ). I don't want to be dependent on my ex buying me out. If/when she does, I'll use that to pay down the mortgage and/or do some improvements. I'm aware it could turn out to be a mistake. Maybe a huge one. I think there's a good chance there will be a HPC (or at the very least long price stagnation, flat wages, etc). I also think there should be a HPC, morally. Young people are being f@ed in this country. But, I'm at a point where it seems to make more sense to me - emotionally and practically - to go for it, rather than keep waiting.
  4. I won't explain why, as I'll just be labelled a troll, but I've been on several viewings in the last few weeks. Two of them were with young 20something EAs, who with minimal prodding opened up about how anxious they are about prices - they both said they were worried they'd be renting forever. A third conversation was with a much more experienced 50something EA who spoke very plainly about her grownup children still living at home, unable to afford to move out, and remembering huge IR rises in years gone by. I found it quite life affirming - much more honest and open EAs than I had met before.
  5. I'm paying into the NHS pension, and even with the recent changes (the new 2015 pension scheme started in April) it's still quite decent. For the first 10 years of my NHS employment I've been on the 1995 pension scheme. There has recently been an option to change it to the 2008 pension scheme. The 1995 scheme pays out at 60. If you take it at 60 you can't keep paying into the 2015 scheme. if you go on working past 60 you an continue paying into the 2015 pension, but not the 1995 one. But if you switch from the 1995 scheme to the 2008 scheme you can keep adding to the pension until you retire (at 65 / 6 / 7 / 8...) I was just wondering if anyone has been through this choice themselves? I've been on the phone to NHS Pensions, but all they can say is that if you're planning to work later the 2008 scheme works out better. But I don't even know if there'll be an NHS by then. I'd be interested to hear any HPCers thoughts
  6. Count, please let's not start the whole troll thing again! I don't think king_of_stretham was trolling at all. He was just reporting things from his perspective, in the range of houses he's looking at. We all know falls aren't reflected the same in all places and in all types of property. I'm looking in a similar area, where prices have been affected by Londoners looking for affordable family homes with a garden within commuting range of London. There has been so much delusion in these parts for so long that prices may take a while to come unstuck. The small 2 and 3 cottages needing some work that I'm looking at still seem to be selling quite quickly... for now. I'm getting very impatient and some days tempted (based on anxiety that the gov't may find a way to keep HPI going), but my powder's still dry. People who express some uncertainty are not all trolls!!!
  7. Where? Genuine question. I've not been able to find anything more than 4.5x salary.
  8. Count, I want to believe. I know your argument makes sense, or at least, I want it to make sense I don't know if 'it's different this time'. I suppose it can't be. I feel very aggrieved. I've been working so hard for so long, solidly slaving my guts out doing way more than full-time work, struggling to save on a not-very-big NHS salary, and yet I have no prospect of getting anything to show for it, or to provide my kids with. I'll be renting into retirement, my quality of life severely diminished with rent sucking away my small pension. The big picture is too complicated for me. You say we've been robbed, and I agree - but what's to stop the Gov't and their banker mates from robbing us more? No-one around me seems to feel robbed. I just sincerely don't know what to do. I'm 40 and assuming I bought right away I would be 65 by the time I would have paid off the mortgage! Thanks for your thoughts, Count - I will try to keep the faith Well, after all that perhaps I'll go back to lurking
  9. I'll stick my head above the parapet. I've been lurking here for years. I'm not a troll, I'm just full of doubts. I bought a (relatively) well priced place in 2011 with my then-partner. Now we're separated - she has the house and our two kids most of the time. Most of the equity in the house is hers, but I'll get a small deposit out of it. Now I need a place to settle and ultimately retire into, to provide some stability for my kids when they're with me. I've just turned 40 and I feel that time (and the world!) is against me. All my peers are settled with secure seeming homes and futures. Of course no-one knows what's around the corner, but I feel very insecure. I'm not any kind of troll but my resolve is starting to crack. Of course I feel that the HPC must come, and I want my patience to be rewarded... but I'm losing faith. Most likely I'll keep renting, but I've started looking at 2 bed places in my area (east Herts / Uttlesford) for £220k, that would have been £180k just a couple of years ago. I would be absolutely maxing out what I can borrow at that price, very vulnerable to any rate rise. It makes me feel sick and I just don't know what to do Of course they can't be worth that! But yet... they're selling. Who's mad - them or me?! I can't believe the Gov't have kept the pyramid scheme going as long as they have - and now I can't imagine them being able to lower interest rates for a long time. Also, the world is different from the 80s and 90s - the globalised economy has turned UK housing into a financial instrument for foreign investors, and I don't see that reversing now the Tories are back in power. But what do i know. All I know is that I don't know what to do... Not everyone with doubts is a troll!
  10. Actually, Chicago is the birthplace of house music. Detroit is the birthplace of Techno (Juan Atkins, Derrick May, Kevin Saunderson, Carl Craig, Underground Resistance, Jeff Mills, etc).
  11. Thanks very much for your super-quick reply! Very interesting thoughts. But I still don't know what to do with my € stash! Since I live and plan to buy (eventually...) in the UK what matters to me is the FX rate between € and £, which has done me proud in recent times... but perhaps it's time to realise these gains and sell EUR for GBP? Any thoughts gratefully received!
  12. I'd be very interested to know people's thoughts on the prospects for the euro (about half my STR fund is in €)...
  13. It's on the BBC now - House votes down bail-out package The lower house of the US Congress has voted down a $700bn (£380bn) plan aimed at bailing out Wall Street. The rescue plan - the result of tense negotiations between the government and lawmakers - was voted down by 226 votes to 207 votes. Members of President George W Bush's Republican party were strongly opposed to it and many refused to back it. Shares on Wall Street plunged within seconds of the announcement, following steep falls in earlier trading. Mr Bush had earlier appealed to lawmakers to pass the bill, saying it would restore economic confidence. The vote came as banks failed in the US, Europe and the UK. The fourth largest US bank, Wachovia, is being bought by Citigroup after becoming the latest to hit problems. In Europe, Benelux giant Fortis was bailed out by three governments, while in the UK the Bradford & Bingley bank was nationalised. The US Federal Reserve, the European Central Bank and eight other central banks announced further moves to combat the crisis, by making a further $330bn available to provide liquidity to global money markets. Speaking ahead of the vote, Mr Bush had argued that the bail-out plan was a "bold" one which he was confident would restore strength and confidence to the US economy. But after a several hours of impassioned debate, the bill's opponents - the majority of whom were from the Republican Party - got their way.
  14. While the storm clouds gather far across the sea, Let us swear allegiance to a land that's free, Let us all be grateful for a land so fair, As we raise our voices in a solemn prayer. God Bless America, Land that I love. Stand beside her, and guide her Thru the night with a light from above. From the mountains, to the prairies, To the oceans, white with foam God bless America, My home sweet home.
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