Jump to content
House Price Crash Forum

catsick

Members
  • Posts

    417
  • Joined

  • Last visited

Everything posted by catsick

  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 ...
  16. If the landlord has emailed you with concerns over your pet , I suggest a reply along these lines .... Dear Sir, Currently I only have eight dogs but one is expecting puppies and I am very excited by this. I am hoping for a litter of at least ten as this is the number required to participate in dog sled racing. I have read every Jack London novel in preparation and have constructed my own sled from timber I borrowed from the construction site across the road during the night. I have devised a plan which I feel will ensure me taking first place in the next national dog sled championships. For the first year of the puppies life I intend to say the word mush then chase them violently around the apartment while yelling and hitting saucepan lids together. I have estimated that the soundproofing of my apartment should block out at least sixty percent of the noise and the dogs will learn to associate the word mush with great fear so when I yell it on race day, the panic and released adrenaline will spur them on to being winners. I am so confident of this being a foolproof plan that I intend to sell all the furniture the day before the race and bet the proceeds on coming first place. Regards, David. full email exchange is here ... http://www.27bslash6.com/strata.html I guess this shows that emigrating to Oz is not going to solve your problems either ....
  17. I think the most important thing you can do is to spend lots of time engaging with your kids early on, all studies basically support this, have a stay at home wife and whatever extra support she needs to spend as much one on one time with the kids in early life. Failing this make sure your kids are in as good an environment as you can organize. When I was young my parents were not wealthy and I spent most of my time in a sink of a school, I did o.k for myself in later life but I would not want to risk my kids going through the same meat grinder as I did, you may argue that it's good for you but I would say for example if you are a 90 percentile smart person then maybe your kids will be 75 percentile, so if I had no help then I need to do whatever I can to load the dice in my kids favor so they can have a happy outcome ...
  18. We built in Tokyo and at some point I would like to do the same in the UK, you basically get exactly what you want , I find the japanese system to be excellent , all land is basically zoned for the amount of construction you can do and then you can basically build what you like subject to some sunlight blocking and overall height limitations, its an excellent system, in the center of tokyo on a busy road the ratio might be 80%/600% meaning if you have 100m of land you can build a building with a total floor area of 600sqm with a footprint of 80sqm . Off the busy roads in downtown tokyo it might be 60%/300% and out in the suburbs it might be 30%/60%. We built in Omotesando which is like the Knightsbridge of tokyo and the land was around 10k gbp equiv per sqm for 60%/200% land (you can build lower ground without using your ratio too) , building is then about 3k gbp per sqm for very high quality , out in the burbs you may be only paying 1k gbp per sqm but can build less on it . It works out way cheaper than the equiv would cost in london and when you buy the land you are sure that you can build what you like within the parameters. It is also a lot of fun and you can set things up exactly how you want ...
  19. The downsizing is a big force and will get bigger as the boomer generation ages , My own parents are now trying to sell up , they are in their mid 70's and in a nice big house in a classy area ooop north, mortgage free and with a decent index linked pension, exactly the type of people HPers really hate, there is no financial pressure to move just a desire to live somewhere with less hassle to maintain. They are looking to move to a big 3 bed flat. My obesrvation is that the market for the property they are moving to is strong and the market they are trying to sell to is weak, 5 years ago you would be looking at 1.2 million vs 300k for the new / old properties , now its more like 800k vs 400k . To them the price difference is pretty meaningless, as this is not what is driving the move and they have no need of the money anyway so the trade works at any positive premium. I suspect we will start seeing more family houses chopped up into flats again as it becomes profitable to do so again, In London I believe until recently the trend has been the opposite of this with friends buying a house split into flats and reinstating it as a family house. In a boom I think its good to be in the cohort driving the boom as everyone drives things up, in a bust I think the boomers will be all loosing together while gen x / y will be the winners as there is a smaller number of them to suck up the stock being sold off ....
  20. I think the real reason is a combination of several things, most ftb are now mid 30's and very risk averse and unless a place looks great they are scared to take it on, also as the banks require so much deposit they basically have the deposit but nothing for renovations, so a fixer up does not appeal as they will be living in the mess for years, this may not seem to make sense but I think its correct. 6 months ago I was trying to sell a very tired 1970's conversion flat in a nice part of north london, I bought it to live in 20 years ago then moved overseas and it has been rented ever since at terrible yield, So decided to finally sell up. For three months zero bids on it, plenty of people looking round but it was just too tatty and 1970's and just not in any way desirable, so I got a local builder and gave him a 25k budget to rip out everything down to the joists, improve the layout, new kitchen bathroom etc, so he did the work , it came out costing 10k more than budget for no rational reason but anyway, I put the price up by the full amount of the renovations and it went back on the market, first week got a bid at full new asking price ... the place looked nice and the agent was then telling me I probably sold it too cheap .... I think this sums up really why there actually is money in renovations for beany types, until people can see a flat looking nice they wont buy at any price, the reality is a full tear down and rebuild internally renovation is not that expensive to do and to a buyer who has just enough for a deposit is worth a premium .....
  21. It is really nothing more than a sop to the lib dems to let them cut the top rate of tax, I dont really see it as having any effect, I am pretty sure the corporate loophole will not be fully shut down as a company buying premises which for any reasonable sized business is going to be north of 2 million, a 7% tax is not doable as it cant be capitalized so would be a pure loss. In SIngapore the government just announced a new 10% tax on all foreigners buying, something like this would make much more sense, any offshore person or entity. This would also hurt the private equity punters who offshore all the assets to escape tax. At 5% the stamp duty on over 1 million is already too high , most people buying in that range will be say selling at 1.5 million and buying at 2 million , say you have 1 million of loan you go from 500k equity to 360k equity , makes the deal look silly . A much better plan which would make moving easier and raise a lot more revenue would be to abolish stamp duty altogether , and have a 1% a year tax on all prices over 250k on the last transacted price ... much fairer , raises more revenue in the long run , and the cant afford it augument does not work as its 1% the price you paid so old granny in a big house fails here too. It actually makes things easier on day 1 for all ftb as they dont have the upfront cost too.
  22. Don't kid yourself that asking for no-salt on your fries gets you a portion of fries with no salt, the fat they are fried in is loaded with salt and the fries themselves are a processed food to start with. The sprinkling of salt at the very end is actually a small part of the total salt, but it is very obvious as it all hits the taste buds straight away for max effect. Likewise salted crisps that taste very salty actually have a lot less salt in them than a lot of processed foods or even a couple of slices of factory bread. Having said that, salt is not a bad thing, we need salts to help us retain water in our bodies, lack of salts is what causes kids in Africa to die of dehydration when they get a bad dose of dihorreah ( or however you spell it ) , we need both sodium salts and potassium salts, we don't have taste buds to taste the potassium ones so guess what, we generally don't get enough of them. The fact we like salty foods is because we need them, although not in the volumes processed foods love to provide. As far as healthy diet goes, most of Ireland lived for over a century on a 100% potato diet, if you eat them with the skins on and have one glass of milk a week you have everything you need, may get a bit boring but , the only problem arises when you run out of potatoes or the crop fails .......
  23. I think a lot of these replies are a bit negative, I have lent decent amounts of money to several people in the past, running into the hundreds of thousands on occasions, when I was younger I also borrowed lumps of money from friends that would have been a stretch to pay back if my plans had not worked out. The key thing to assess at the outset is the question, are you lending the money to clear up a situation that is untenable in the long term, or are you lending to cover a short term situation that has a clear solution, if you stress at the outset what your expectations are and you have a decent trust of the person you are lending to then I don't think it is such a problem, as well as destroying a friendship helping somebody out who then repays your trust in them can be a good outcome. The situation here of a friend deep underwater and looking for some time to stave off the inevitable is going to result in stupidity on both sides if a bailout is given ( like the greece situation ) but I do not agree with the general philosophy that offering a friend a lifeline when they need it is in all cases a silly thing to do ...
  24. I cashed in all mine ! the only proviso is you need to be out of the country 5 full years before you can do it , and they are shutting most of the loophole down from this April too , basically you tell your pension provider you have left the country and plan to retire in NZ ( even if you don't live there now ) , there is legislation in place to allow to people to move their pensions to another country if they wish to , but that country is not allowed to let you withdraw any money for 5 years after you left the UK, after 5 years you can just call them up and say , give me all my money now tax free please , and they do in NZ as their system works more like an ISA where you don't get relief on the way in and can cash in tax free ... The problem is most people organizing these schemes are fly by night advisers based in Spain and if you don't do it correctly you could well be subject to 55% or higher charges ...
×
×
  • Create New...

Important Information

We have placed cookies on your device to help make this website better. You can adjust your cookie settings, otherwise we'll assume you're okay to continue.