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House Price Crash Forum


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Everything posted by Redcellar

  1. A relative has to pay monthly for their two kids to have ipads at their Academy school. Not compulsory but they were told if they don't buy one or this monthly payment then the kids couldn't do their homework. No they aren't a well off family. Quite the opposite but these overprices ipads have been forced upon them in the name of their kids development. Why not the £89 tablet or the half price Nexus? Bloomin joke where teachers see tech and make it fit the curriculum to the disadvantage of the public. This is all that is wrong in the world of IT. Solutions to problems that do not exist. There was another article about the expensive digital whiteboards hardly being used too.
  2. Annuities are purchased based upon bond returns. Which when there is QE go down significantly. Hence the crash in annuities. Kind of sucks for the boomers just retiring. You pension is worth half what you thought it would be all in the space of a few years. See http://thisismoney.williamburrows.com/ratetables/key.aspx From over 5% to 2.5%. I don't care how much you think you have 'in your house', with annuities like that you're screwed.
  3. I fail to see how QE ends happily. So the theory goes that when we are back in significant growth the government bonds (read UK debt) are sold back out to the private markets by the BoE. When they are sold it will be at another loss as bond prices will inevitably be lower, assuming anyone wants to buy them anyway (you could just buy overseas assets at a better deal in a growing economy). So UK loses again as well as having higher inflation which goes hand in hand. And that premise is built upon 'significant' growth allowing them to be sold. That seems a heck of a blind gamble. Just because we were lucky enough to experience it in the past, what makes anyone expect it to happen again? And because all the other moronic Western nations are busy printing away doesn't make it a good idea. Won't the emerging nations be on a stronger footing having not played these financial hijinks?
  4. They all talk about it but no-one addresses the root cause. Lack of education leads to breeding like rabbits and therefore the problem persists or gets worse. No one in their right mind would have a large family if they knew it would starve. Yet it happens. Purely because they had to have multiple children in the assumption more than half would die of disease, injury or starvation. Until they turn off the tap then the problems will continue. And they have to help themselves, and when I say 'they' I mean the leaders who never starve, or suffer themselves.
  5. The 'no tax for A road use' is dumb. People will just block up the A roads causing more pedestrian accidents and more problems for the locals. That'll be a vote winner especially as most motorways have A roads running parallel. And driving is essential for those of us who don't work in the city. I have a work commute of 50 miles each way, and that already pays taxes to the government. I sure as heck don't drive for fun. No life outside of Londinium though.
  6. Think you called this one wrong. http://www.bbc.co.uk/news/world-latin-america-20822711 Looting in Argentina. Not looking good. So much for the calm down. Pop over to Buenos Aires and tell them to calm down. Sure that'll work too.
  7. "He had put his previous problems with drugs behind him and he was training as an estate agent before this," Corrected for you.
  8. Ditto. Well 3 years in this place and no rent increases. Plus money in the bank earning interest. House prices falling. It's all good and backs up the now more common view that renting is better than buying.
  9. It's an obvious outcome folks. As all EA's and vested interest people have said, it's the foreigners buying places that kept the market increasing. So think about it for one minute. What happens when your funny foreign money starts decreasing in value, your savings reducing. Do you: A. sell up quick along with every other bug*er B. sit tight after all you bought the house to live in right? You did didn't you? House prices will recover and you can keep you money tied up in this asset, in a very large gamble. No? Go to a) Then what happens next people.
  10. I have an ipod and and ipod mini or whatever the heck it's called. One of those clip on things. Great for the occasions I go running. The thing with Apple is they are easy to use. And at the time there wasn't much competition. However ... it's 2012 and there is loads of competition and I have to honestly say Apple have lost the edge, they offer the safe mundane stuff. My next phone is to be the Nexus 4. A fraction of the price and more functionality and tech. I'll be buying one when the stock returns. It's sold out again darn it.
  11. They're only ignorant when the lose. When they win they tell us all they were an expert as they bag the cash. Ignorance is no excuse by the way. You can buy independent advice from a real expert and they will explain all the ins and outs in plain English. But very few did, because that costs money. Why spend a bit of money on lifes biggest purchase eh?
  12. I have to ask the obvious. Putting yourself into a precarious financial position by betting your house will increase in value - how is that bettering oneself? In fact how is 'buying' any house bettering yourself. That says that those who don't are somehow lesser people and that's the biggest problem with this country. The stupid assumption that you have to own a slew of assets from a new house to a fancy car to be a better person.
  13. It's this constant denial by the masses that's crazy. People still telling them prices will rise beyond what they were in 2007. Yet absolutely no facts to back it up. What has changed is irrefutable. Tighter credit and lower prices outside of London. And there is nothing to suggest this will change. Nothing. Slap them with a big wet fish and they still won't get it. And they don't give a stuff about the kids who have it way worse because of their excesses. It's all me me me nowadays I am afraid.
  14. Prisoners. Hardly. And they're only going to pay 3.99 %. God help them all when normal rates resume. The world is truly full of muppets, but why would you have yourself photographed as being two. That's the real question in this article.
  15. You shouldn't joke. When I was last viewing places more than half of them were in an abysmal state of repair. Clearly they signed up to the Bob philosophy and didn't spend a dime on them. Bodged cheap jobs and defects that were about to become catastrophic. Rotten windows, dodgy electrics (home fixed clearly), plumbing and boilers that were never maintained let alone replaced. The life expectancy of these new boilers is around five years a plumber told me. Even if he is a lying git then they sure as heck aren't built for ten. Tinternet says seven and combis cost at least a grand to replace (don't forget the labour costs Bob).
  16. Same here. Uninsurable because of the mapping they use. No floods but insurers won't touch it. I live on the first floor for heavens sakes!!! They agreed as I only need contents insurance and excluded anything left on the ground floor. So there's another 'hidden' cost. No insurance or at least significant buildings insurance costs
  17. Here's my list for the last six months. Leaking roof x2 Gas safety check Broken internal lights x2 Broken external light Roof tiles / storm damage x2 So there's the cost of materials (pretty low) labour (pretty large as callout fees are minimum of £50 + labour on top) You say buying a good house etc etc. But they are talking averages not top end stuff. Course you can buy a perfect place and have minimal costs. You can also buy a real doozie and have HUGE costs. Averages is what it's all about. I'm smiling I'm not footing the bills for this lovely old place. And lovely old places take significant upkeep. If you don't then all those little issues build up really really quickly I promise you. Previous op: thanks for reminding me ... leaking taps x2 causing ceiling damage too. Repair to plumbing, ceiling, plastering and painting. How could I have forgotten that.
  18. The thing is, they only have to be right once. And when it happens isn't really the issue, just that it will. There's more hidden stats the majority aren't aware of that suggest it will be sooner rather than later. One that is perhaps more known is the banks forbearance figures and they are a powder keg waiting to explode. It'll be a mad dash to grab all these debts and assets back in one significant swoop, quite soon. But of course prices won't be affected by that Credit is free flowing right now isn't it
  19. I've taken a back seat of late and just been reading the posts. For this one I felt a comment needs to be made: Absolutely logical to reduce it. In fact I would abolish it completely. Is it a necessity or a nice to have? A serious question by the way. The USA for example has many states that have zero maternity pay. People are still having as many children, they just pay for it themselves. I'm sure there are many other benefits that are also nice to haves and not essentials. Good post OP.
  20. BTLs are going strong because they are very low risk and hence easy money to the bank. They are business loans and therefore the mortgagee has little protection compared with 'home owners'. They are on average 40% loans, so price drops are pretty much irrelevant. They have low tolerance of missed payments and can afford to seize the property and any assets of the individual to make up any shortfalls. They charge handsome interest rates. Easy money.
  21. You can see why the roads and development avoided this blue area initially. Then along came a greedy builder. Frankly, I look forward to the removal of the government backing for insurance flood risk. These places should be illegal, but at least with the insurance gone then so will these future dodgy developments. They will be unsellable.
  22. Insurance or not. Who in their right mind would pay anything but a pittance for a house whose contents are going to be ruined every few years. All your stuff needs replacing every X years. Mentalists.
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