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House Price Crash Forum


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About sugarflux

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    Worthing, West Sussex
  1. For me I have a large family, all with large families of their own and all with mortgages and some with debts as well. If i were to win a large amount of money my priority would be to wipe out these debts. I don't know if I would be good enough to hand out spending money to family and friends but I certainly wouldn't want any of them in debt while I was living the high life! I've personally had debt in the past which I worked hard to pay off and vowed never to get into debt again (aside from potentially a modest and highly affordable mortgage at some point in the future). Living debt free was a big positive change for me and I hope this would make the same change for those that I were to help. My second priority would be investments to "make sure" (as much as possible) that the money would last and hopefully be passed down to my children. With the first two points covered I may then go shopping for cars/holidays/gadgets/a house etc ~S~
  2. Wow. There is a hell of a lot of bitterness on here! I say good luck to them. I would certainly squander a small proportion of the money if I were to win it - that's part of the idea of winning the lottery surely? Giving away 20% of their winnings to family and friends is very decent of them too. If I were to win £100k i think it would change my life completely so £100m is just unthinkable. I hope they make the most of their good fortune. ~S~
  3. Without meaning to go too off-topic (!) I think it's the great escape festival. Stupid idea for a festival really as there are a *couple* of good bands that i would have liked to have seen but you have to buy tickets to the entire festival (£49.95 + booking fee) to go and see just one band, even though it's just a band in a bar! Plus the chances are you won't get in to see the band you bought the tickets for as every other festival goer has turned up on the off-chance they might like it, leaving you in the queue. I haven't bothered this year. Got the Isle of Wight festival booked next month instead Apologies for being especially grumpy today - feel like I'm moaning about everything. Will try to cheer up this afternoon (must be the commute ) ~S~
  4. I'm currently doing the commute - fortunately it's only on a temporary basis (contract work) but I do find it difficult to see that the commute could (in any way) be a good thing. I am getting used to it now after a couple of months but i think it's much more complicated than just "an hour each way". Personally, I live a few miles outside of B&H and the journey is an hour and a half. 10 minute walk to the station, when i get to one of the London terminals I then have a further tube/bus to get to the office (this can be up to half hour on a bad day incuding getting around the station, depending on traffic / number of people etc but usually 15-20 mins). Then a 5 minute walk to the office. Already - however you look at it - I've freely donated at least 4 hours to the company of my own time. If i read a book, watch my laptop, work, sleep etc. I am making the most of the fact that I'm stuck on a train but I'm still stuck on a train! I don't get home until around 7.30pm (depending on delays, catching the early train etc). I need to get to sleep before 10pm to enable me to get up at just gone 5am the next morning. I now have 2.5 hours a day to spend with my wife / family / friends. When you take into account having some tea that doesn't give a great deal of time - I work, eat, sleep; work, eat, sleep. I used to love Friday night - the week's finally over and you can let your hair down, have some drinks, stay up late. I'm lucky these days if I haven't fallen asleep by 11pm because of the early mornings! So you have Saturdays - day and night - but then Sunday you've got to get back to sleep early to be awake for Monday morning! That's not to mention the fight for a seat both in the morning and on the way home. Getting caught up in the stress of just walking around in London - being barged and elbowed by 100 people per square metre. Almost £500 per month train ticket and nearly £5 for your lunch. Enjoy the sunny weather if you can find a nice patch of 10' x 10' dirt-that-used-to-be-grass to sit on as long as you don't mind sharing it with 50 others. London and the commute are not for me, the commute has left me gasping for time to spend with family, friends, partying and relaxing and relishing the thought of being able to sit in the peace and quiet of my garden. I wouldn't recommend it long-term for anyone if it could be avoided. Glad it works for you, though ~S~
  5. Perhaps they are going along the DFS school of marketing. They will advertise it for a very short space of time at an inflated price so that they can then use a phrase along the lines of : "*** just reduced by £30k!!! *** or some such nonsense. ~S~
  6. Good things in and around Brighton: My boilers broken down and as I am renting I don't have to pay to repair it. I'm starting to get excited about arranging my savings accounts for 2011 in April. Bad things in and around Brighton: I don't think the HPC is coming. My faith is dwindling. Predicting a "spring bounce" followed by flat until the end of the year. Considering buying abroad so that my savings are doing slightly better than the hit they are taking in the bank. Unless anything newsworthy happens I'll re-evaluate at the beginning of 2012. ~S~
  7. As i understand it (and try to put it simply) as house prices tend to fluctuate between "seasons" or periods of the year, those who calculate the figures (Nationwide in this case) apply a "seasonal adjustment" meaning that they bump the figure up or down by a percentage so it can be measured against the other year's data. For example: I drive a Vespa during the Summer. Let's say I paid an average £1000 for my Vespa but there are fewer scooters on the roads during the Winter (for obvious reasons!). Therefore you tend to find that Vespa's are more expensive in the Spring or early Summer than they are in Winter (as people don't want to buy one just to leave it in a garage). Therefore the demand affects the price. If i wanted to compare the price of Vespa's in May to the price of Vespa's in December there would be an obvious skew which would always be apparent. So to detect and track any other factors would be difficult as this skew would always remain. But if i bump up the price of Vespa's in December to the £1000 average and bump the price of Vespa's down in May to the £1000 average i come up with a formula for "seasonal adjustment". The following year i can then take my May figure, seasonally adjust it and compare it against the seasonally adjusted December figure - supposedly giving a more true representation of how the price has changed over the course of the year / decade / century etc. Unfortunately it also allows a lot of "wiggle" room to allow me to unashamedly "fiddle" with the figures..... ~S~
  8. Yes be very careful not to experience a dead cat bounce... ~S~
  9. So by not buying I've saved a tidy tax-free £250 in one month? Show me a savings account that will give me the same returns. ~S~ Edit: Spelling skills of a long-armed anthropoid ape.
  10. +1 It certainly seems like a kind gesture on the face of it but then looking a bit deeper I'm sure any one of us would be happy to give away someone else's money to charity! For all the people saying how great a decision defaulting on your loan (really stick it to the banks) is I wonder if you will feel the same about all of these BTL empires which will start hitting the floor soon enough? Great guys those. They spent more than they can afford on irresponsible loans led by greed but when they hand back the keys (sticking it to the banks, like our op) we can pat them on the back for being such honourable businessmen for doing the right thing. ~S~
  11. Why on Earth do you keep banging on about the Daily Mail? No-one else has mentioned it. The fact that the banks are in the wrong doesn't excuse the fact that you were also in the wrong. When you took out that loan you made a promise to pay it back (hence the definition of the word loan - something lent or furnished on condition of being returned). Therefore by breaking these terms you must be aware that you were in the wrong. The fact that you have explained this away in your mind by convincing yourself that the bank deserved it is all very well but please don't be under the illusion that what you did was in any way right or morally correct. Perhaps given time and little more life experience you will come to understand that a hard-earned achievement is ultimately more rewarding than a handout. I wish you well for the future in France and remember: Bien commencer, amène à bien terminer ~S~ We live and learn. At any rate we live...
  12. Borrowing money for your business and being unable to pay it back is a business deal. Feeling great about this fact because you have "got one over on the banks" and publishing your story "as a guide" so that you can help others do the same is certainly not a business deal. If I steal your car am I morally sound because you are insured anyway? ~S~
  13. I'm not sure I follow your train of thought here? Are you saying it is immoral to keep money in a bank? I work hard and put my savings into a savings account. If the bank refuses to give back my hard-earned cash because they can't afford it would you be siding with the banks on this one? ~S~
  14. I understand that businesses fail. I understand that businesses need loans. I understand that sometimes these loans cannot be repaid. I object to the idea that there is no need for people to act - and feel - responsible for their debt. I think this is part of the reason that the country is in so much debt. A little more responsibility from every person in this country, better intentions to repay what we have borrowed and perhaps our situation would not be quite as bad today. As for advertising this behaviour "as a guide for others", the OP has left me with a very bad taste in my mouth. ~S~
  15. So not only content with your own lack of moral responsibility you are actually attempting to advertise your lack or principles as a good thing for others to do? This is not a non-questioning faith in 'the system', it's actually more of a faith in that all people - deep down - are fundamentally 'good'. It appears this is deeper down in some people than others. It is a faith in the basic moral that i live my life by and i believe the world would be a better place if everybody held it in such high esteem: "Do unto others as you would have others do unto you" This basic principle is obviously what you lack. I sincerely hope your parents can spare the cash and are not suffering detrimental effects of your careless acceptance of this handout. Personally I aim to teach my own children better than this. You have to work to gain anything in this world, you need to act responsibly with your money in order to save for the future - do not just flutter it away and think that something else will land in your lap. Most of all, trust is earned. We agree at last. Thank goodness you are leaving the country. ~S~
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