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House Price Crash Forum


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  1. So what do we think of this then , a nice W H smith for sale... http://www.auction.co.uk/commercial/LotDetails.asp?A=817&MP=24&ID=817000013&S=T&O=A
  2. They are backtracking as fast as they can on that one , the 6.9 is a max max figure , at the moment 95% of PR applications are being turned down and all the visa rules are being tightened on other classes of work permits, the F+B industry in particular is in dire straits unable to hire as many overseas workers as before but with strict quotas on numbers of locals that must be maintained. In private politicians will admit that they badly screwed things up letting too many people in without the housing stock and infrastructure to support and the lower quality of life resulting for locals is not a good situation.
  3. Your current housing situation Wife, young daughter and self just STR in Singapore , have 3 months before we have to move out so will start to look at rentals soon ... What type of house would you like to buy? 4 bed 3000 sqft condo in central location How much does this cost in the area you are planning to buy in? about 6-8 mio sgd or 3-4 mio gbp How much would it have to cost before you thought it was worth buying? about 4 mio sgd or 2 mio gbp Do you think this is realistic and if so how long do you think before prices reach this level? Yes I think prices will fall as a ton of stuff is being built and prices are waaay too high now and the government here is clamping down hard on immigration, I think it will take 2 years How are you currently saving for the deposit? We have plenty of savings
  4. I was driving down there recently and it struck me as a horrible place to live, at least 25% of the properties are unoccupied to the point of being derelict, and another 25% are in the process of some massive rebuilding, so the whole street is like a building site at best with and with the number of unkempt properties means it will stay this way for a long time, Really the area has nothing going for it, you cant walk anywhere nice quickly, closest would be 20 mins to Highgate so as you have to drive you may as well be out in nice countryside slightly further north, a smaller house in Hampstead would be 10 times more pleasant at a fraction of the price of these monstrosities, my guess is that most of the money has come from the Russian billionaires who are almost all jewish and this is the most jewish part of London and security is good so attractive to them, The pace of these guys moving to london has slowed right down so I think the demand down this street will be dropping fast.
  5. They have never had it so good , I graduated in 1989 and started on 14.5k so on these salaries they will almost be able to pay back some of these new fangled tuition fees they seem so keen on .
  6. Run down house on an acre plot http://www.straitstimes.com/breaking-news/singapore/story/bungalow-plot-near-adam-rd-sale-82-million-20121009 45 million quid perhaps ? ?
  7. I watched this after downloading from thebox , I actually thought at the start she would annoy the hell out of me but in the end I found it pretty good. She did well to outline how Marx had an excellent understanding of how things work in the real world, something that most lefties do not, and he really had no solution but assumed there would be a worker backlash, I came away with a basic respect for Marx as a clever individual who was not trying to make other people conform to his views but basically just wanted to understand the situation and explain it to others and lead an easy life putzing around Hampstead rather than leading a revolution . So all in all Marx out of ten , I would give her one .
  8. I quit work at 40, am now 44 and all my little projects and faffing around have now built up to mean my semi retirement pretty much are a full time job again, although there is no boss and I have a pretty relaxed time of things . My advice is don't even think about stopping work unless you can live off less than 4% of your capital and even that is probably tight. You also need to have stuff to do to keep yourself sane, I have the luxury of time and can work on things that interest me, for most people I don't think it would work.
  9. When I younger we made up a great big sign saying " DON'T EAT BRITISH CHEESE " and then used to join in whenever there was any sort of demo going on , it was hillarious, it makes any picture taken of the demo look silly , the protesters don't know how to deal with it, it would be perfect in the middle of these muppets ...
  10. Fuji rock in Japan every year captures everything all these festivals try to but fail to , also the F1 in Singapore is becoming a bit of a blast, a music festival under the camoflage of a car race ....
  11. Its pretty shocking , I wnet to uni in 1986 and there were no tuition fees and the grant to live on was about 2,500 a year ( I got about 500 of this and my dad had to make up the rest, but this is basically what about 50% of parents had to do, the thresholds were set such that it was easily affordable to make your kid up to what the gov would pay if you didn't have such a high salary ) the 2,500 was pretty easy to live off, my rent was 17 quid a week and I had mates paying less than 10 so I think 2,500 then was equiv to about 7,500 now Fast forward to the current set up and put the maintenance loan and fees loan into a spreadsheet and the loan over 3 years is going to come to 45k, if you then see what you need to earn to pay this off with interest and at 9% of your earnings over 21k and you realize that very few are going to pay this off, you are going to have to be on a salary curve that starts at 25k and goes up to 80k, in current 2012 pounds realistically to have the thing cleared. So really it is a tax , and a special 9% tax that is only paid by those between 21 and 51 , those that are earning moderate wages and that the really high earners will eventually escape. If you had to target a new tax on those that could afford it I think the 45-60 demographic would actually be the right place to aim it at. I don't know who this tax appealed to, I suspect the vice chancellors just want to keep the gravy train with 9k a pop intake for 3k value tuition going and the politicians wanted to fund the thing without it appearing like a new tax. I had my free education and I will pay for my kids education, but this is really not fair on the vast majority of those currently 10-18 years old who are going to have a tax structure in the future that is different from the people they will be sitting next to at work ...
  12. I left the country and cashed all my pension plans in tax free (-: , 40% tax relief on the way in, zero tax on the way out, they are closing the loophole now though .. I was very happy to cash them in given the scumbags that run these things have endless levels of hidden fees which guarantee the performance will be way worse than the market, if I was ever to work in the uk again I would not sign up for anything except a sipp with a low cost internet broker ....
  13. We live in Singapore, but also spend a lot of time ( around 25% ) up in Tokyo which is not cheap and we like to eat and drink very well wherever we are. For the missus, myself our maid and our 2 year old daughter last year we spent groceries 10,700 gbp restaurants 14,100 gbp drinking 2,500 gbp So a total of around 27k which is pretty extreme but food is the one thing we are pretty indulgent on ... We find when in the UK the supermarkets are really very cheap in comparison to what we are used to.
  14. I think people who take on interest only know what they are doing, they have made the basic assumption that inflation will do the work of whittling away the real size of the loan and in 25 years they can repay it with the change from the back of the sofa ... i don't really have an issue with them, I think that in a risk averse environment the banks will be very careful about issuing them anyway ...
  15. The reality is there are still waaay too many pubs, back in the 60's and 70's they were cash cows, there was very little competition for entertainment so people flocked to the pubs. Taxes were low on booze and fags and as beer costs basically nothing to produce so we ended up in a situation where there literally was a pub on every street corner, now beer is taxed to the moon and smoking banned and as well as people being basically healthier they have a lot more entertainment options, so we probably need only about 1/4 of the pubs we used to. On the flip side there are probably 4 times as many restaurants as there used to be, before we basically had a chip shop in every village and a poor smattering of restaurants in bigger towns, now we have dining options galore and those all eat into the pubs trade too, As a part owner of a few restaurants, I see the margins on drinks are the most lucrative part of the trade, in one of our restaurants we get upwards of 30% of customers ordering a large coke at 1.95 ( the next highest drink sale is diet coke ! and only then beer in the evening) and its basically all profit, compared to the margin and hassle involved in food preparation the wet side of the business is pure gravy, the pubs basically no longer have a monopoly on this free money and have little else to offer in many cases ...
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