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rentingtechie

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About rentingtechie

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  1. It took you 4 posts for you to [try] to tear me to shreds and expose me as a troll? I've been on this site, generally lurking since 2008 with an occasional post. Yes, back in 2009 I was earning good money, saving plenty every month and looking for a place to invest, and there was FA that looked good. A year later I was made redundant and so started a company. That also explains the silence for most of the last several years - I've been working very hard. You might also like to know I attempted TWICE to start a NEW THREAD, but for whatever reason the mods decided to put the post on the end o
  2. Hi, I posted on 118, and have now apparently been disabled, so now cannot respond to being accused of being a troll, disparaging renters (I'm one and have been all my life) and various other things. Oh well, so much for debate. One of the things that's very clear is they are organising themselves very well and are going all out on emailing associations, MPs, cabinet members etc. Mark Alexander apparently has been invited to a focus group to discuss the tax policy. They are building serious clout. Sadly however, they don't seem to have much knowledge of economics. Here -
  3. Hi folks - long-time lurker but I figured I'd post over on 118. I suspect my post won't last long, but here's what I wrote: -- Guys this is really simple: George Osborne has changed tax policy to discourage BTL investment and in turn promote 2 other things: 1. Owner Occupation 2. Productive Business Investment First - the government wants to promote owner occupation. Why? Because it brings stability. Homeowners buy furniture, fridges, ovens, lawnmowers etc. Homeowners improve their properties over time and generally maintain a higher standard of housing than landlords. They run for cou
  4. Not that I'm especially in favour of the measure, but the "taxes" they speak of are probably just property taxes. In the US "PITI" is a standard acronym to describe the components of your monthly housing payment - principal, interest, taxes and insurance. Your mortgage payment may actually include all of this, and the servicing company will pay out the taxes and insurance. Or not - depends on how it's setup. But it's all considered in the monthly cost for loan qualification etc., as if you stop paying any of those items you're either in default (for principal & interest) or the authori
  5. Actually I agree with your first 2 points. Renewables are being pushed too much without enough corresponding investment in storage technologies. There is a fundamental problem in terms of compatibility. Rather than ignoring that on 1 side and making too much of a fuss about it on the other (in my opinion at least!), why not get on with the business of solving it? And I'm very pro-nuclear given the fact that we need cheap energy to support our economy. Folks need food and shelter - that requires transportation and paying for all that requires jobs. All that needs energy. The next 100 yea
  6. I always find it interesting when this debate comes up. Surely the answer, and the giant elephant in the room that no one ever mentions, is to research energy storage technology? Wind and solar power are excellent at generating electricity with very little marginal pollution or cost - direct or indirect. Yes there are pollution and costs associated with their production/commissioning and decommissioning but those will come down over time as materials and procedures advance. But from what I can see the giant hole in energy research strategy is energy storage. Wind and solar aren't much use
  7. Ok, this might be a completely silly idea, but upon reading the thread about Barclays paying 7% interest on deferred bonuses I just thought of a way we could get out of this absurd situation with the banks. We should auction banking licenses like we do RF spectrum or NY does with taxi medallions. Get the banks to pay massive amounts of money for the privilege of being allowed to setup a lucrative banking business. Imagine if we said that starting in say 2015 there would be say 5 banking licenses available in the UK. Auction them over a 90 day period - whoever pays the most gets the license
  8. Yeah - I know about that side of things. Part of the reason I'm still just watching and waiting. As the finances suffer and people are desparate to rent apartments out, pretty low quality tenants come in, plus I hear there's talk of property taxes going up too right? Still, I would guess it could be a good time to buy sometime in the next 2-3 years. It's a good site for keeping an eye on things if you read the comments on the blog posts (and take a lot of it with a grain of salt).
  9. I think Florida could be a very good purchase. I moved to the US when I was 12, and lived there for 20 years, but now work in London. Even in a very good job, being able to afford a place here seems a long way away. I like Miami myself, this site might be useful: http://www.miamicondoinvestments.com/
  10. I think doing an engineering degree is still a good choice as you'll get more education in the time you're in university since the courses are more challenging. Good training in maths and logic and other topics generally of use in technical fields is always going to serve you well. I don't know about actually working as an engineer though. I studied Mechanical Engineering, but in the first year of my course came to the conclusion that it was too light on computer experience in the university so looked for part time work that would give me that experience (this was in 1991 - early-ish days o
  11. It seems to me to be a fairly simple game theory exercise a la the prisoner's dilemma... All the banks know they're screwed - including the BoE. They have assets that are currently on the balance sheet at a certain amount, and in reality they are worth less than that. So everyone knows they need to climb down from the current valuations - the question is how much and crucially, how fast. The banks are maximising short term income with the interest rate spread - this controls how fast they can writedown assets. A few percent a quarter is ok since they can pretty much balance those losses w
  12. I live there now - in Rotherhithe in the Pacific Wharf building next to the Old Salt Inn. It's ok, too quiet for me with as you say with very few cafes/restaurants/bars/signs of urban life of any form. It's suburbs in near-central London - not a bad thing at all for many folks, but not quite my thing. It's basically a 10 minute walk from any part of the Rotherhithe peninsula to Canada Water tube. Decent bus connections too. You should note that the water taxi is not much use though - there's no stop out here except the Hilton, which is just a shuttle over to West Ferry if you want to pick
  13. I live in Bermondsey at the moment - Rotherhithe Street in the fugly eyesore that is Pacific Wharf which is currently undergoing the country's largest NHBC repair project so covered in scaffolding and plastic wrap. It's a pretty nice area, kinda suburban corner in the middle of London. If you want peaceful it's pretty good, although personally I prefer it a bit more lively. The Thames path is pretty nice, can't say there's much wrong with this section of the path. I'm paying £320/wk for a 2 bed, although that would probably be £50/wk more if the building wasn't in the middle of a huge re
  14. Yep - I'm in the same situation. I now have what would amount to a fairly sizeable deposit, but am not sure at all I want to use it to purchase property. So at the moment it's just sitting there in the bank doing nothing useful. Sad to say, at the moment the best return looks to be BTL, unless I can find a suitable business opportunity to invest in. I don't think any of the normal investment routes offered/managed by the financial services industry are very attractive as either the investments are still over-inflated or I just don't trust the managers. I would love to invest in a small co
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