Icingonthecake

I wouldnt get too excited by those moves RLB, bearly a bit of profit taking..

Well said!. I was going to say much the same, but will add that due to all this pending doom and gloom its caused me to take a different attitude. Ive always saved hard and been thrifty, denied myself the 'keeping up with the jonses' things such as flash cars etc. But given the BOE is going to QE my savings into dust, Im now buying all the crap that ive avoided all my life. Ive recently bought a 5.5 litre V8 Mercedes, its quick as fck and I love it ( uses petrol like a sherman tank though) but to offset this ive bought 1 motorbike and 1 scooter and a brand new overpriced scrappage scheme supermini for the wife. Also as the pound is becoming worthless ive wasted a chunk booking a nice holiday. Its time to enjoy the fruits of labour whilst we can, and sod the consequences.

Its in Gravesend, the whole place is a toilet.

Wow I was right about the rents falling 20%, just during the time of this post, this market is really screwed!. Yep I reckon prices have further to fall, and have advised Mums partner to not panic, as the right deal will come up. I personally would'nt have paid over 90 for the flats, I feel their fair value given the location to be nearer £82-85,000, and right now it would just feel wrong to actuall pay over an advertised price!.

The mothers partner has asked me to look for a property for him to buy ( he has no home of his own he lives in my mothers house) to create an income for him now he is unable to work. He as about 90 grand saved and has no pension and is unable to work due to an industrial injury, and so is finding it hard to get by on the paltry interest his savings produce. Anyway, found the following two properties on righmove which would get £700-750 per month gross income (rent), so called up the agent. http://www.rightmove.co.uk/property-for-sa..._includeSSTC=on Was told that they are reposessions, and that in fact they had gone to 'final and best offers' this week and had provisionally sold for prices over the asking price!. I know flats of this size in this actual development were being marketed at £155,000 towards the peak and selling there or thereabouts, so assuming an even selling price of £150,000, they have fallen somewhere close to 40%. Of course, like Thamesmead, Erith is far from the most desirable place to live, so new build style flats dropping is hardly gonna surprise those on here, but the fact that there is even a measure of competition for these properties is perhaps a little surprise? I Still feel that there are no firm reasons to beleive that prices have bottomed, but with a gross yield of around 10% some of these places are looking attractive to those with cash to spend. Even if rents fall 20% (as could easily occur) the returns beat savings accounts even allowing for a 5% annual price fall for some years to come.

Im afraid that new price is for shared ownership... follow the link to the connels EA page and it shows the price as £224k based on 75/25 ownership.

Is that really true? If so then Im off to knock one out , I hate cats.

Daddy Bear, I read your post(s) with genuine interest as a net saver and homeowner the hyperinflationary scenario is clearly the least paletable to me. Can I ask, what happens if the Conservatives are voted in and put their hands up and say we have no choice but to raise taxes to start repaying the debt and to hell with the political consequences (after all, if the country wants to go into oblivion, we dont watn to be your leaders anyway - who wants to get hung!). After all there is, of late, enough evidence that the UK is in real trouble not just relative to other G7's, but in absolute terms, to propose that the general public might actually not be as stupid as often thought and accept 5 years of hard times, for a better future for ourselves and children?

Daddy Daddy dont go, pleeeese daddy Ill be good, honest

No. July 1999 or earlier.

Nice idea but it wont work. All that will happen is that the big banks will just buy the smaller banks to get their deposit bases. Either that or the smaller cudldly banks will just lend their deposit bases onto the big banks either direct or via the Fed. You cant beat the system.

Given that the scrappage scheme is limited to £300mio, it is highly unlikely to affect the car you intend to buy. What could be affected is those cars that are pre-registered and effectively new but cant be included in the scheme as they are not considered new under the scheme ( as they are registered). Example: Hyundai I10 brand new with Auto box £8495 less £2000 = £6495 Hyundai I10 pre-reg with Auto box £7495 less £0 = £7495 What would you buy? So it follows that the pre-reg car will fall to around the same level give or take. So Pre-reg or 6 month old cars will likely take a partial hit to their values, but the knock on effect will be very diluted once you reach cars that are 3 or 4 years old. All in my humble opinion of course.

Sorry!.

No, its duly noted. Waht about the odd colouring on the cheeks of her face. Still would though.

Send an Email to 'What Car' magazine, copying the mail sent to you from the car firm, they love this sort of story. Also post a 'what should I do' not on the Autocar forum and see what comes up. Cheers

Wrong, so very,very wrong. Poor lass. Krusty wins the pearl necklace.

Who?

Not forgetting chelsea boot and my personal favorite, Chelsea buns. I miss the hp boom, it had its good bits.

Wouldnt say no to a go on them puppies, nice.

Bl00dy spoilsport, a wave of relief ran over me when I read that hyperinflation was not in prospect, then you go and spoil it. G1t.

I fear hyperinflation, and I dont see much evidence of deflation other than in assets such as houses. But I do see evidence of price rises for basic goods such as Maltesers. I buy some every friday for the kids and they are always 50p a packet, today they were 56p a packet, thats 12% in a week. I dont do much food shopping so can't compare many other goods. Maltesers are made in Uk arnt they? so unless all the ingredients are imported (possible) then why are they rising in price?. I'm seriously considering investing my savings in something usefull. Solar panels, at least that will (to a certain degree) meet one of my essential needs. Next on the list is to fill the garage with fray bentos pies, fags and frozen food. Maybe I should buy some chickens for eggs. But how the hell am I gonna make my own maltesers? answer me that. No thought not.

RBS issued some Floating Rate Sept 2010 paper today, at Libor plus 35bp, that is governabnk guaranteed, and Euro banks were buying it in decent size. If you're gonna have savings in GBP , a government backed bank (up to £50,000 limit) has as safe as it possible to get short of buying NS certificates for next to no return. All IMHO, of course.

Whilst were on the subject of chocolate, I bought a packet of those new (limited edition?) Chocolate and Chilli walkers crisps today and they were facking horrible. I shall not be buying them again. Should have know better..

I used to be an fx dealer and the irony was that any time i took a view on my own money, it went seriously tits up!. So 100% gbp atm. Have about 125k and no debt, so concerned about inflationary policies (QE) so seriously considering filling the garage with fine wine for the Mrs to drink, and waste the rest on plasma tellys and flash cars. Then I can join the debt party like every other bugger.

Show him your mortgage aceptance letters (or bank statement if your paying cash!) and say that whilst you appreciate the your offer may be lower than he expects it is genuine and real. Do not give him any indication that you are prepared to increase your offer. To sweeten the deal for them, offer things that cost you nothing (if you can genuinely offer them) such as 3/4 week completion, agree to keep the price paid discreet ( maybe he would sell to you at 220k with 10k cashback??). At the end of the day he cant be sure or not that someone else will pay the extra 10k and neither can you, do you want to risk losing the house you really want more than he is willing to risk losing a firm buyer? Its a poker game!.