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Saving For a Space Ship

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Posts posted by Saving For a Space Ship

  1. A discussion on rising costs of living, and stagnant pay increases.

     

    "The average house price has risen by 30k+ since COVID began.Fuel has risen around 30% in a year

    Energy has risen almost 30%, were now paying more than those in the EU for our energy.

    Council tax is set to rise up to 4%National insurance and income tax, 1.5% each.My wages haven't moved an inch since that point. I'm currently working two jobs and in my free time I'm learning new skills to improve my likelihood of a better life.

    I can't be the only one worried about the way things are going in the UK, will things continue to spiral out of control, will the majority of the middle class people be priced out of homes in ten years?

    Will things stay the same?I'd love to hear other people thoughts cause I'm over here feeling crazy that I'm working more than ever and have even less to show for it.'

     

    don't worry. theres always more uber debt for some ...

    Supersize mortgages: can you get one, and what are the dangers?

    https://www.theguardian.com/money/2022/jan/08/supersize-mortgages-can-you-get-one-and-what-are-the-dangers

    Quote

    To qualify for the biggest loans available, applicants need to have one of the following jobs: teacher, firefighter, nurse, paramedic, doctor, police officer, accountant, barrister, engineer, lawyer, dentist, architect, surveyor or vet. They must also earn a minimum basic salary of £25,000 a year.

    Higher earners – those on a minimum £75,000 basic salary – who don’t have one of those jobs are also eligible.

    .............

  2. car pcp more addictive than the drug ..?

    will the boe be investigating ?

     

    Quote

    Family member taken a PCP out in my mum's name

    A family member has used my mum's driving license to take a PCP out in her name on an expensive car which they pay for monthly.  We have started receiving letters for speeding fines, parking tickets and missed payments etc so now know what is going on.

     We contacted the PCP company to cancel but they said we'd need to make a lump sum payment as it's a few months into a 48 month contract now. We explained the situation but they said in that case we need to report it to the police. Clearly we'd rather not as it's a family member.  What would you advise I do?

    https://www.reddit.com/r/LegalAdviceUK/comments/rwozki/family_member_taken_a_pcp_out_in_my_mums_name/

  3. How long can the global housing boom last?

    Three fundamental forces mean it could endure for some time yet

    https://www.economist.com/finance-and-economics/how-long-can-the-global-housing-boom-last/21807002

    Quote

    NOVA SCOTIA’S largest city is known for a few things: a big national-security conference that takes place every autumn; a huge explosion that took place in 1917, causing immense devastation; and a small but impressive wine industry. It may soon be known for something else.

    Since December 2019 house prices in Halifax have risen by nearly 50%, according to Knight Frank, a property firm—a boom that only a tiny number of cities have bettered. Sit down with a Haligonian and before long they will express bafflement at how their city became so pricey.

    20220108_fnc322.png

    Some local factors are at play. People who had moved to distant Alberta to work in the oil industry lost their jobs in 2020 and moved back home. Out-of-towners are investing in local property in the expectation that eastern Canada will become a more desirable place to live as the climate changes.

    Nevertheless, the broader trend is mirrored across much of the world (see chart). The IMF’s global house-price index, expressed in real terms, is well above the peak reached before the 2007-09 financial crisis.

    American housebuilders’ share prices are up by 44% over the past year, compared with 27% for the overall stockmarket. Estate agents from Halifax’s mom-and-pop shops to the supermodel lookalikes on Netflix’s “Selling Sunset”, in Los Angeles, have never had it so good.

    Now people are wondering whether the party is about to end. Governments are winding down stimulus. People no longer have so much spare cash to splurge on property, now that foreign holidays are back and restaurants are open.

    Central banks, worried about surging inflation, are tightening monetary policy, including by raising interest rates. In its latest financial-stability report the IMF warned that “downside risks to house prices appear to be significant”, and that, if these were to materialise, prices in rich countries could fall by up to 14%. In New Zealand, where prices have risen by 24% in the past year, the central bank is blunter. The “level of house prices”, it says, is “unsustainable”.

    But is it? Certainly there is little evidence so far that the recent tightening in fiscal and monetary policy is provoking a slowdown. In the third quarter of 2021 global house-price growth rose to an all-time high.

    Although New Zealand’s central bank has raised interest rates by 0.5 percentage points since October, there is only the mildest indication that house-price growth there is slowing. In 2021 the Czech National Bank repeatedly raised interest rates but prices are still moving up.

    Perhaps it is just a matter of time before the house of cards collapses. But as a new paper by Gabriel Chodorow-Reich of Harvard University and colleagues explains, what might appear to be a housing bubble may in fact be the product of fundamental economic shifts.

    The paper shows that the monumental house-price increases in America in the early to mid-2000s were largely a consequence of factors such as urban revitalisation, growing preferences for city living and rising wage premia for educated workers in cities. By 2019 American real house prices had pretty much regained their pre-financial-crisis peak, further evidence that the mania of the mid-2000s was perhaps not quite so mad after all.

    Fundamental forces may once again explain why house prices today are so high—and why they may endure. Three reasons stand out: robust household balance-sheets; people’s greater willingness to spend more on their living arrangements; and the severity of supply constraints.

    Take households first. In contrast with some previous housing booms, well-off folk with stable jobs have driven the surge in prices. In America the average credit score for someone taking out a government-backed mortgage is around 750—considered pretty good by most people’s standards and far higher than before the financial crisis. In the euro area banks significantly tightened credit standards for mortgages in 2020 (though they have undone that a little since then).

    For many people getting a mortgage has become harder, not easier.

    People are also less vulnerable to rising interest rates—and thus less likely to be foreclosed on, which often leads to fire-sales and drags down prices—than you might think. In part this is because rates are rising from a low base.

    In America mortgage-debt-service payments take up about 3.7% of disposable income, the lowest figure on record. But it is also because other countries are following America down the fixed-rate-mortgage path, which in the short term protects people against increases in borrowing costs. In Germany long-term fixed products are twice as popular as they were a decade ago.

    In Britain almost all new mortgages are fixed-rate, with five-year deals now more common. According to UK Finance, a trade body, nearly three-quarters of all mortgage borrowers will in the near term be unaffected by the Bank of England’s recent rate rise.

    Shifting preferences are the second reason why global house prices may stay high. More people are working remotely, meaning greater demand for at-home offices. Others want larger gardens. This race for space explains about half of the rise in British house prices during the pandemic, according to analysis by the Bank of England. Transactions involving detached homes have increased, for instance, while those of flats have declined. Across the rich world household-saving rates still remain unusually high. That may have allowed people to invest more in property.

    The third and most important reason why house prices could remain high is housing supply. The Economist’s analysis of national statistics and archival records finds that in the years before the pandemic, housebuilding in the rich world, once adjusted for population, had fallen to half its level of the mid-1960s. Housing supply has become ever more “inelastic”: increases in demand for homes have translated more into higher prices, and less into additional construction.

    In many places the pandemic has dealt a further blow to supply. During the first wave of covid-19 some governments forced builders to down their tools. In the second quarter of 2020 Italian housing starts dropped by around 25%; in Britain they fell by half.

    Even in places where stay-at-home orders were milder and zoning laws are loose, such as Texas, the pace of extra demand was so rapid that builders could not keep up, slowed down, for instance, by the limited number of carpenters.

    Shortages of materials and labour have added to the constraints. Builders are grappling with higher costs and delays for raw materials such as cement, copper, lumber and steel, and a scarcity of tradespeople is pushing wages higher. The bumper earnings and improved margins of some housebuilders suggests that many have been able to pass on the increases in costs to buyers. DR Horton, America’s largest homebuilder, said the average sales price of its homes shot up by 14% in 2021, contributing to 78% growth in earnings per share.

    Some supply bottlenecks may now be easing. In October the IMF noted that global housing starts per person had begun to pick up, though they were still “considerably below the levels of the early 2000s”. But the world has a long way to go. In May 2021 researchers at Freddie Mac, a “government-sponsored enterprise” which subsidises much of American mortgage finance, estimated that the world’s largest economy faced a shortage of nearly 3.8m homes, up from 2.5m in 2018.

    Other estimates put the shortfall closer to 5.5m. In England an estimated 345,000 new homes per year are needed to meet demand, but builders are further away from the target than they have ever been. Unless something profound changes, pricey property may be around for a while yet.

     

  4. 5 hours ago, Pop321 said:

    Nice find and post.

    Whenever I listen to any ‘news’ lately it just a seems inconsistent, incomplete, headline grabbing ramblings.

    I came to the conclusion the ‘news’ (ie media) is it’s own business and it’s job is not to inform the pupil but create ‘hits’ to generate revenue and distraction 

    And on that basis I would say they do ‘get it’ but more and more media and TPTB actually just don’t care. It’s just airtime and hits.

    may I add...and distraction 

  5. The Mercedes EQXX is the most efficient electric car yet, Jack takes a look at this incredible machine. A range of 1,000 km or 621 miles on one charge.  https://youtu.be/Pt_c3gaO32g

    uk evs registered by manufacturer december 2021 - source -new automotive

    https://twitter.com/ESWadsworth1/status/1478072681765482506 https://newautomotive.org/

     

     

    FIMrRRRXsAMb3sR.jpg.fa03343bc467ce85aade921e71a3b0fe.jpg

  6. Quote

    Confront the building industry. New regulations due to come into effect in 2022 are intended to reduce carbon emissions from new-build homes by about 30% compared with current standards. But a more ambitious Future Homes Standard, which aims to make all new buildings “net zero ready”, will not come into force until 2025 and the government has a long and bad record of bowing to industry pressure to weaken plans.

    https://www.theguardian.com/commentisfree/2022/jan/03/great-green-reset-10-things-britain-save-planet-cop26

  7. On 31/12/2021 at 10:00, Peter Hun said:

    The disaster with LG Chem, Hyundai dropped them for CATL (owned by BYD) so now share a supplier with Tesla and VW.

    Hyundai share of the recall was $340m not "billions". Irrelevant to me.

    Looks are subjective most reviewers absolutely adore the I5/EV6. Range is over 300miles so it doesn't need to look like POS  Tesla.

    I did not say $billions, I said $billion . original articles at the time said it cost $1 billion . half to be paid by hyundai, half by the batt supplier 

    THis article from april 2021 says $900 million

    Looks are subjective to a degree, but for good design the drag coefficient should be constantly improving, not looking like an old car .

    ie Mercedes-Benz EQS Achieves 4 Mi/kWh With 0.20 Drag Coefficient

    https://insideevs.com/news/497543/mercedes-benz-eqs-4-mi-kwh/   

    Quote

    Apr 7, 2021 - 04:50 pm Kona Electric battery recall keeps troubling Hyundai

    https://www.electrive.com/2021/04/07/kona-ev-owners-find-hyundai-mishandling-recall/

    The Kona Electric uses the same batteries as GM’s Chevrolet Bolt, for which there was also a recall. GM had begun swapping the batteries that October, while Hyundai stuck with the software update as a final solution.

    That was until the company had to give in this February when Korean media reported Hyundai was replacing the entire batteries of all 77,000 Kona Electric vehicles worldwide.

    These account for nearly 70% of the 111,000 units sold over the past three years in Hyundai’s major markets of Europe, the US and South Korea. A few days later, on 25 February, the manufacturer extended the recall to include not only the Kona Electric but also the Ioniq Electric and some Elec City e-bus units at the cost of $900 million following fires in 15 Kona EVs.

    Still, the decision to finally replace the batteries sounded like good news, all things considered at the time. However, the new Reuters report points to Hyundai still not having sorted the problem and even less the communication.

    Take the example of Kim, an EV owner in Seoul. He told the news agency: “When I asked Hyundai’s repair centre when exactly my Kona EV will be getting a battery replacement, they just told me that they would put me ahead in the line, but I haven’t received the exact date yet.” Kim then added,

    “There were only a few EV options when I bought my Kona EV back in 2018, but now that there are way more EV models available, I don’t think I would go for Hyundai again.”And Kim is not alone.

    Already in November 2020, 173 Kona EV owners filed a class-action lawsuit, seeking 8 million won ($7,000) compensation each for what they consider a reduced value of their EVs.

    back on topic , the price increase in cars / lease or buy is getting crazy in he US  ..

    Buyer Rejects $50K Dealer Markup On Mercedes EQS, Gets Lucid Air Jon Rettinger initially wanted a Mercedes-Benz EQS 580 4MATIC, but the insane markup drove him to buy a Lucid Air instead.

    https://insideevs.com/news/557827/mercedes-eqs-50000usd-dealer-markup/

     

    interesting ..Are VW, BMW & Mercedes colluding to STOP Tesla? https://www.youtube.com/watch?v=9eajbyS4bI8

  8. 1 hour ago, Peter Hun said:

    Yes Tesla basically have only one model of car.

    VW sold over 200k EV cars in the first 11 months,neary  double Tesla. STELLANTIS are also outselling Tesla.

    https://eu-evs.com/bestSellers/ALL/Groups/Year/2021

     Tesla dont make smaller, cheaper cars yet.  They are cars in different markets, the model y is also coming shortly and before you say it similar to the model 3, the vw id 3 & id4 share the same platform.

    After Dieselgate (see great vid I posted a few posts earlier) , I would never trust vw, but a lot of idiots appear to ignore the fact they were poisoning them & their kids for years. You ignored my point about the $billion dollar battery replacement disaster of hyundai .

    The hyundai shape looks like a crossover old audi a3 imo, the shape of the model 3 is evolution in drag reduction 

       

    Quote

    UK order books are now open for Tesla’s long-awaited Model Y, priced from £54,990 for the Long Range electric SUV. That’s the version we’re driving for the first time on British roads, though it’s a Dutch test car with the steering wheel on the left.

    First right-hand-drive deliveries of Long Range models are expected by March 2022,

     

  9. How the Auto Industry Cheats and Has a Huge Environmental Impact | Dieselgate | ENDEVR Documentary

    Did anyone go to jail ?

    Quote

    Documentary from 2017 ‘Dieselgate’ made headlines around the world. For deliberately cheating the system, Volkswagen were made to pay a record $20 billion fine. But, as this investigation shows, they were far from the only culprits. We met the researchers who uncovered the cheat device and investigate the dangers posed by NOx (nitrogen oxides) emissions.

    We also look at Peugeot-Citroen, now the subject of a judicial inquiry and also Renault, accused by investigators of consciously defrauding the emissions tests. Our source from inside Renault reveals that his job was to ensure that the car’s emissions stayed under the standard while in lab conditions only, with no regard for the real impact of pollution in cities.

    And there is no doubt that air pollution kills. We meet a team of researchers from MIT who say there have been 4000 premature deaths across Europe due to NOx excessive emissions due to diesel cars marketed as ‘clean’.

    Thirty people in France are now taking the state to court for not protecting them. Ministers claim that no one knew about the problem until recently.

    But we reveal the truth. We meet the ex-European Commissioner for the Environment who first raised this issue in 2011 long before the VW scandal. And surely now that the scandal has been revealed, things will change for the better?

    Recently in Europe all 27 member states voted to increase the allowed standard for NOx emissions to more than double.

     

     

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