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House Price Crash Forum


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Everything posted by defweb

  1. Any views on old basing or cliddesden parts of basingstoke This property has caught my eye though i wouldnt pay asking price http://www.rightmove.co.uk/property-for-sale/new-homes/property-19359708.html
  2. Offered asking price for a property between Chiselhurst and Bromley (sundridge) but someone beat me too it and i was unwilling to pay over the odds. Am looking for a property in this area up to 500k within walking distance or quick bus route to Elmstead Woods. Prices seem to be where they were in 2007 in contrast to Greenwich where I currently live where they are at all time highs.
  3. Aged 30 on 60k a year working in procurement for one of the big 4 supermarkets. Started 'proper' work in 2004 on a grad scheme earning 20k and have worked for a few blue chips in between (including a bank). Have savings of 130k built up over last 8 years although 20k of that was gifted. With no debts I was able to save from the get go and invest wisely. Although I rarely post i am an original HPC member who unfortunately finds himself in most expensive part of the country. With 4 x salary and a hefty deposit I'd be looking in the region of 400k but unfortunately that only gets an average 2 bed flat with 3k a year service charge to rub salt into the wound. Yes I could buy but have worked too hard to buy anything lacking the wow factor. Fear I won't find that in London on my income.
  4. People seem to have an emotional reacton to shorting. If the so called shorters push the price of the share below what constitutes fair value, they will get their fingers burnt. Traders will move and bid the share price back up again. If a company can be "short sold" into administration im afraid the company was doomed anyway and short selling enables quicker value discovery.
  5. Deserves every penny for the wealth he has created. If a bank turns a profit its entirely appropriate that those rewards are shared commensurate with personal contribution.
  6. I agree with some of the latter posts that this appears low. I work in Canary Wharf earning £52k. I was more than happy with this coming from outside the financial sector but upon joining it immediately became apparent how low i was on the pecking order. 50k was effectively entry level! I am 29 with a degree and a professional qualification but many of my peers of the same age are earning 65k plus as middle managers. Its another world here and i have to remind myself of that when i visit friends and the like in the real world.
  7. Loss making already? I must be looking at different annual accounts. Operating profit of close to 3bn every year since 2002. I have the dividends (for now) to prove it.
  8. well if the end goal is soley to own a house in this country then the depreciation of sterling matters little (provided foreigners dont suddently buy up all our cheap property which is unlikely given the strain they are also under). more broadly though it will be inflationary since we import more than we export. A fall in the value of a country's currency also depresses the confidence of its population, which has its own negative economic effects.
  9. what is the best value (i.e low charges) foreign currency account i can open? I know hsbc and a few other high street banks have this facililty but i imagine the fees vary considerably. Bit late but i want out of sterling as i have no confidence in this government and want to protect my wealth. Didnt think it would come to this when i fist signed up to this forum many years ago. Just wanted reasonable house prices. thanks
  10. I know they make their porcelain china plates in india. Am certain someone will pick up this business as it is seen as "quaint" and "british" to the overseas market.
  11. What parts in particular? i know Andover is taking a hammering
  12. some of the trackers on the market are tempting and may lead me to enter the housing market early next year. The HSBC tracker for example at 1.69 above base rate for those who can meet 60% LTV. There are no exit charges so when things go the other way i could jump onto a fix. Of course that means any mortgage i get needs to be affordable at twice the variable rate, but in the short term i save a packet while rates are low.
  13. i rented in windsor from March to end of October this year. Found the place to be very pleasant with all the amenities it has so i catn fault it there. That said, it has terrible train links into central London. It should not take an hour to get into central london (south west trains) and the great western service is only to paddington. I used to live in hampshire and it was easier to get into london from there in my opinion. The plane noise is pretty bad but you do get used to it. I remember my first week getting the shock of my life first thing in the morning at 6am and it goes right through to 11pm. I work at heathrow and can say that traffic is not a problem. I tended to hit the m4 by 7.40am and had no problems and was smooth going all the way onto the a4 bath road. in the end i moved out as i felt i was paying too much for not very much. Lived ina two bed apartment (trevelyan court) and paid £1250 where most were going for 1300. Felt like i was living in student halls and decided to cut loose.
  14. well i got in at 1.05 this morning. i still have faith that the dividend will hold up. If BT fails as a company then my losses will be insignificant. Saying that we are still waiting for our first corporate failure outside of banking. happy days
  15. British Airways Voluntary severance update. "Four hundred and fifty managers have applied for voluntary severance, the company has announced. This represents a third of those managers eligible to apply for the scheme. Most are expected to leave British Airways on December 31. Chief executive Willie Walsh said: “We have reviewed all the applications and, as we said we would, we have decided to accept them all. “We are pleased with the take up for the scheme. The number is in line with our expectations and means we can deliver on our commitment to reduce our management headcount.” The company announced the scheme in September as one of its responses to the unprecedented trading conditions affecting the industry"
  16. had been minimising my exposure with ice save for some time as i saw some risk but never forsesaw something like this. went from 25k to 3k remaining which i withdrew last friday but still not in my account! the last 3k i withdrew says it is processed as defined below. do you think im all clear? Processed = The transfer has been completed and is reflected in your “Processed Balance.” Once the transfer has cleared and is available for withdrawal it will be shown in the “Cleared Balance”. Subject to account Terms & Conditions, you can withdraw from your "Cleared Balance".
  17. Been here pretty much since the beginning although im a lurker more than a poster. Was convinced back in 04 that a crash was due so didnt buy when i got my first proper job and moved to Bristol. Remember putting posters up anonymously on my works notice board using flyers from this site which were circulating at the time. I admit i got the timing wrong but as the saying goes "The market can stay irrational longer than you can stay solvent." There's also the cliche when the last bear turns bull the market will crash. Well myself and another big time bear nearly bought in 2007. We were nearly those last 2 bears. Could have changed my life immeasurably for the worse if i had done such a thing. In hindsight everything has worked out for me, or maybe ive convinced myself of this?? either way renting has increased my mobility and allowed me to move jobs easily. Ive also saved up a nice deposit of 70k in 4 years even after i bought myself a nice new BMW. Figure that a few months falls will more than pay for it. In summary i feel well prepared for what is to come and feel that we will go back to 2004 prices (adjusted for inflation) and i can pretend the last few years were a dream.
  18. any updates here? im seeing some of the new builds now willing to slash and burn prices. for example the pavillions development.
  19. ryanair dont even hedge their oil spend. BIG MISTAKE and as such are paying the spot prices you see now. I believe the arrogant CEO has now done a u turn and will start hedging going forward. I love how he says they dont want to issue a fuel surcharge and have a dig at BA only to then raise the cost of checking in bags and probably using the toilet. Interestingly, one of the reasons BA have a fuel surcharge rather than building it into the price, is because in certain markets you have to record your standard ticket prices with their regulator. This of course prevents BA from changing the price at short notice. A surcharge on the other hand can be changed overnight and be responsive to the market.
  20. i remember when crown heights was launched and it was marketed as very high end and "waterloo in 50 minutes". Do have some sympathy for the guy. we take it for granted that most people are finance literate. THEY AREN'T. This block is now known as custard towers and theres been lots of press recently about brothels and crack dens within the block. Why anyone would buy a place here i dont know.
  21. Dont use them then. its a free market and they are doing fine without you. infact financially they are in the strongest position of any airline for the shit storm thats about to come bar perhaps the middle eastern airlines..something to be proud. What the press fail to note is that other airlines are upping their fuel surcharge also but its only newsworthy if its BA. To answer your question though BA make their money from business passengers.
  22. i follow the airline industry and BA's results were the culmination of 6 years effort since 2001 to achieve a 10% margin. This was largely achieved through cutting staff and having a more competitive cost base. Last year BA were hedged at $60 a barrel and now $90 witha spot price of 120+. Anyone who bought into BA shares following the announcement of record profits the other week is a fool who deserves to lose his/her money. the share price is based on the future and everyone knows its dire ahead and even with this "record year" the share price has gone from £7 to £2. I personally wouldnt touch them until £1.50 afterwhich they become a takeover target.
  23. sold my two tickets for 2k. Possibly could of got more but dont have the time to push it. ultimately +1700 profit into house buying fund.
  24. there is an upside to the ludicrous figures. Student loans are fixed for the year on the basis of march RPI. So last year many students/potential first time buyers were payung 4.1% and now its 3.8% i guess some good comes from this.
  25. what kind of properties are you looking at here? im just about to move to the area on a 6 month rental contract at trevelyan place (one of numerous new build complexes in the area it seems). Ideally wouldnt mind buying around here but budget is 250k for a 2bed which doesnt go far.
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