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Everything posted by bearishonhouses

  1. My understanding is that every trade has a buyer and seller - they are equal in number. Perhaps a slightly more accurate yet succinct explanation is that more people wished to sell than wished to buy at the price ruling two days ago.
  2. This is history of BoE base rate. I think Building Society's rate were/are slightly higher - but typically (pre 2008) not by more than 1%. see https://www.propertyinvestmentproject.co.uk/property-statistics/uk-interest-rate-history-graph/
  3. Oh dear, what a shame, how sad! It is not clear that the houses involved were explicitly BTL, but this article highlights another danger for potential amateur landlords - especially if they use an agency to 'manage' their property. Landlord faces £150,000 bill after tenants turn homes into drug farm https://www.theguardian.com/money/2022/jan/09/landlord-faces-150000-bill-after-tenants-turn-homes-into-drug-farm
  4. I can see that China may well come to dominate the world in the next 50 years. But it is not a communist country - and so the rest of the world will not become communist.
  5. I would vote for a system similar to the US. The age at which you can collect the base level of state pension (social security) is still about 67. But you have the option of taking it early or later - at an amount that is actuarially fair - based on normal life expectancy. So if you get to 62 and know that you have a terminal illness that reduces your own life expectancy, you can opt to at least get something back before you die. otoh, if you have good genes (e.g. House of Windsor), you can delay starting to draw benefits until you are 70, and in expectation receive the higher amount until you pop your clogs at 100.
  6. It was failure to properly report declare taxable income that enabled Al Capone to be put away. It might be easier for the state to prove the tax crime than another related crime, which some might feel are more egregious. But if the result of prosecuting either is the same, then why not go for the easier one?
  7. Do you feel similarly about the people (children) similarly treated in the grooming case of Northern Britain? It is not clear to me that there should be a bright line, wherein actions involving a person 18 years old should be treated differently than if the person were 17 years 11 months. But some of the women/girls involved were apparently 14 (or younger) and that, to me, is substantially different from being above the official 'age of consent'.
  8. I would add that on average, US houses are also far bigger - with better facilities (e.g. basements & multiple bathrooms) and rooms are often not allowed to be described as bedrooms unless they have a built in closet. And the listed square footage is only that for living rooms and bedrooms - and generally excludes halIways, bathrooms, kitchens,. (It is a mystery to me how UK Estate Agents get to their reported square footage.) US are about 1800 sf, in the UK - closer to 1100 sf. (see https://www.dwh.co.uk/advice-and-inspiration/average-house-sizes-uk/ and https://www.newser.com/story/225645/average-size-of-us-homes-decade-by-decade.html ) otoh, comparing pre-1970 houses, those in the UK are generally far more solidly built. (This may also be true in later periods too, but I get the impression that many newer UK houses are thrown together too.)
  9. Thanks. I have used a similar extension in the past, but it stopped working. Fingers crossed this one lasts a bit linger.
  10. Moving is upsetting, people get upset. It is tough to do if you wish to believe acting honourably to a stranger is more important than looking after yourself and your family. Having said that, my advice would be to back out - and not sign the contract. That is what sstc means - either party can withdraw.
  11. The website has come from a standard template - possibly created with WordPress, or similar. Clearly, the photos are fake. I wonder about the names of officers. fyi, Lorem ipsum is meaningless random text often used in templates of magazines, books, websites etc to give an idea of what text would look like - i.e. the font, spacing etc. https://generator.lorem-ipsum.info/
  12. I agree the Property Log fee is reasonable - if you are going to use it a lot. If you think your use of it is insufficient to warrant paying the subscription, another option is the 'property track' extension. (https://chrome.google.com/webstore/detail/property-tracker/abgkpdjomdmemeefdefalbeogkmlmand?hl=en-GB)
  13. That's an interesting one. Seems like the entire terrace backs onto the river - and that would be the best part of the house - but the photos do not show that. Looking at what has sold previously in the terrace, I think there are probably some folks who are having second thoughts. Number 4 (120k in 2019) seems to be on a large lot, but #2 (102 in 2020) and #14 (104 in 2011) seem to have no distinguishing features.
  14. Is it not the case that prices for 2nd time purchasers are reflective of service charges/restricted marketabilty etc and maybe they represent reasonable value for money. If you can get one for 50k, and are prepared to accept that your family will never see that money again, it might be worth considering for some people.
  15. 21% off flat in Truro - only another 30% to go to get to an almost reasonable asking price. But it's an 'over 60's' with service charge of 410 per month. https://www.rightmove.co.uk/properties/106868417#/?channel=RES_BUY
  16. Agreed. Best data source is probably: https://www.bankofengland.co.uk/monetary-policy/the-interest-rate-bank-rate which gives: Until 1820, rates were rarely not 5% From 1820 to 1920 rates bounced around but were, on average, 4.3%. Since then, more volatility, but average 1820 to 2020 is about 4.6% Presumably risky mortgage rates would have be slightly higher. I think rates will increase - which is why I have not invested in long term bonds - even though 30 year gilts pay more than 2 year gilts at the moment.
  17. "A nice house, and if it were 22% off I'd snap it up. But it's so difficult to find reliable staff these days to look after one's house when one is wintering in the South."
  18. I may have posted this at the last decline, but now it is 28% off in the Lake District. Sadly (for anyone who thinks houses should be priced sensibly) , they are asking 900k for a semi-detached house with the wing of the neighbouring house blocking the Southern aspect- and hence heat/light/view. Still, guess it's better to see falls in asking prices rather than increases. https://www.rightmove.co.uk/properties/110317397#/?channel=RES_BUY
  19. I am in that category - although I hate shopping and restrict my time in shop to when I actually want to buy something. However, I wonder to what extent do men in that category still feel they are financially insecure - even if they are not. I'll wager there are some who do not consider themselves wealthy and are pleasantly surprised at the financial position in which they find themselves at this stage of late-ish middle age. They grew up in families where there was no money for luxuries - and even necessities were a struggle to afford. (e.g. 8 pounds for a week long boy scout camp was a big deal.) They developed habits of fiscal prurience when young (in the 70's and 80's) and in spite of their new found financial security they find it hard to break the old habits of not spending.
  20. OED character (with respect to property): is falling down or is likely to be so in the near future
  21. 24% off in Cornwall - so another in the 'from criminal to insane category. https://www.rightmove.co.uk/properties/80195337#/
  22. You can use Zoopla to show 'biggest reductions' for any particular area. But as Count points out, most of the time, the asking price after the reduction is still ludicrous.
  23. True. And the interest rate on government student debt is as outrageous as it is in the UK. At present, 3.7% for undergraduate related loans; 5.3% for graduate degree loans. And those loans never go away - i.e. cannot be discharged in bankruptcy. Tuition at public universities varies from state to state but is approximately $12k per year (£9k), and normally needs to be paid for 4 years (as opposed to 3 in UK). But a starting salary for a graduate of $60k would not be unusual - so more than the total cost of tuition (but less than total cost of tuition and living costs). Tuition at private universities has a sticker price that is as unbelievable as prices of a London flat, but heavy discount/scholarships are available at many. The wealthy universities (such as Harvard, Princeton, Yale) will typically offer 100% scholarships if a student's family's income is less than about $120k. Even the less wealthy colleges will typically offer some scholarships that brings tuition for a family with household income of $100k down to 'only' $35k a year (plus living expenses).
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