Saving For a Space Ship
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Posts posted by Saving For a Space Ship
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This is one of the many 'creative marketing' ideas we'll no doubt see over the coming months/years as the EAs drop out of the market and back behind the counters of their local McDonalds. Where we live in London it's so slow, you only have to reach for the door handle of the EAs office and they start salivating!
You may have hit upon another way of winding Ea's up there, I'm off to the Ea's for a spot of 'phantom door handle reaching.
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Following my previous rant on HPC Forum about BBC1 having the whole morning tv programming taken up with property related shows. One property show has been replaced with 'Britain's Streets of Poverty' a documentary view of various uk grim poverty spots, appearing in different places every weekday morning for 45 minutes.
Is this coincidence ? or maybe designed to give folks a taste of ' it may be getting bad, but look how rough it is for these poor devils' .
starting next monday at the same time is a debt related programme trying to get people to save money (more coincidence eh ?) ' Money Spinners
Mon 29 Nov, 9:15 am - 10:00 am 45mins
The Topping family learn what it takes to come off benefits, start earning and tackle their debt issues. But have the family got what it takes to make the transformation in just four weeks?
Website: http://www.bbc.co.uk/lifestyle/moneyspinners/
Sadly the rest of the morning is still property or cash in the attic etc. sigh.
By the way, I work from home & watch the morning tv for research and am not part of the 'richard & Judy culture'
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BBC1 schedule for progs mentioned above
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Britain's Streets of Poverty
Wed 24 Nov, 9:15 am - 10:00 am 45mins
OAP, Old and Poor: Merseyside has one of the highest concentrations of pensioners living in poverty anywhere in the country. Sally Magnusson discovers that many of them are struggling to get by.
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Britain's Streets of Poverty
Thu 25 Nov, 9:15 am - 10:00 am 45mins
Another Country: Many of us have an idyllic image of rural Britain, a land of pretty villages and rolling hills. But even in the most beautiful parts of the country there's often hidden poverty.
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Britain's Streets of Poverty
Fri 26 Nov, 9:15 am - 10:00 am 45mins
In a Land of Plenty
We may be among the world's richest countries, but at least one in ten people are still living in poverty and struggling to make ends meet.
Sally Magnusson discovers that bad housing, poor health and a fear of crime are every day facts of life for those living on the fringes of society, and all too often there seems no way out of the poverty trap.
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Money Spinners
Mon 29 Nov, 9:15 am - 10:00 am 45mins
The Topping family learn what it takes to come off benefits, start earning and tackle their debt issues. But have the family got what it takes to make the transformation in just four weeks?
Subtitles Stereo Widescreen
Website: http://www.bbc.co.uk/lifestyle/moneyspinners/
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Money Spinners
Tue 30 Nov, 9:15 am - 10:00 am 45mins
The task is simple, raise £2,000 in 4 weeks to buy a car for eldest daughter Emma. But for the Cole family from Newcastle, simply learning to make any money proves to be a challenge in itself.
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going to cross post this in the "property myths" thread. Apologies for etiquette but it does belong there really
Bravo, just about to suggest that
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A very funny and good parody.Â
 Wonder if the real pair will get shirty at someone dissing on there parade?
If Kirsty gets mega angry if a few folks post on a website about property and its ups & downs. I imagine she's going to explode when she sees the Dead Ringers .
Thinks Humpty Dumpty... A wall...close up view of 'Original features' of paving slabs...... Cue Phil, running with his bath sealant trying to fill Humpty - Kirstys cracks
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Well said Sir! Guess neither of us can match the ratings of Mr. Popular aka "RJG18"
Only if we keep talking to each other to keep this post at the top of the list
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Hi SFASS - hows the saving going? Apologies we double posted on same item - but u were two minutes ahead of me! Difficult to type quick when u have hands shaped like cricket bats!
I like the bit where Kirsty asks the couple on the pavement what they think of their new accommodation & the girl says " well, its very spacious"....... "& still has the original flooring" (shot of paving slabs)
Hello Gorty,
Guess I got pipped at the post as well, great positronic minds think alike eh?
You need to get that voice recognition upgrade or its plastic surgery on the hands.
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Quite a good parody of the evil pair, talking about surviving a house price crash.
In the sketch they say 'after a brief altercation with the bailiffs, the Johnson family tell us what it's like living on the pavement' cue admiration of real paving stones' They go on to give tips for surviving repossessions
1. Rob pensioners
2. Eat Newspaers
3. Get on the game
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-14.44% is my guess
4's my lucky number,
the BTL brigade deserve - 44.44% but probably won't get it
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I've attempted to summarise the myths so far, any more for any more or improving comments on those listed ?
MYTH 1 -- You Can't Lose on Property
from Captain Manaring:
As far as I can see most of the accepted wisdom (still) handed down by my parents generation is due 1970's economics.
TRUTH -- If you did your house buying from 1965 to 1985 then the idea that "You can't loose on property", etc makes perfact sense. Of course you can't when inflation is between 10 and 20%. Especially if interest rates are lower than inflation as they were prior to 1979.
What they can't see is that low inflation renders the previous wisdom dagerously obsolete.
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MYTH 2 -- 'There is a shortage of houses, so house prices will not fall much, If at all.
TRUTH --There is a shortage of AFFORDABLE property-- If there were a shortage of houses you would be tripping over homeless people in the street every 2 seconds.
From ZZG 113
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MYTH 3 -- Myth: Shortage of land will mean house prices will keep on rising.
From: Masked Tulip
TRUTH: If so, why are rents struggling to keep even and in most cases rents are falling? If there was a shortage of land then rents would be rising at the same ridiculous rate as house prices.
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MYTH 4 -- Mass immigration to the UK means greater demand for housing.
Truth: In the last 10 years more people have LEFT the UK than the number entering the UK each year. The indigenous UK population is falling re the low birth rate and 30-something men who do not want to go near the 30-something women of this land so, in the future, less people in this country.
From: Masked Tulip
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MYTH 5 -- Housing will be my pension.
Truth: Yes, it is a good idea to have a mixed portfolio but everyone now sees housing as their pension which means, in 20 or so years, a flood of properties will come onto the market driving down prices.
From: Masked Tulip
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MYTH 6 -- MEDIA-BABBLE ABOUT THE BUBBLE:
MYTH 6A:
(1) "Aren't we just becoming like the rest of Europe? Over there EVERYONE rents - its the norm, and people just do not care about owning and are not as unhealthy obssessed as the Brits. "
In Europe, most households are owner-occupiers.
Only in Germany its was/is the norm to rent. The real costs of renting for all the population is paid for out of general taxation/deficit spending, in a 'bizzareo' series of social contracts which last many decades to encorage housebuilding from the post war reconstruction. This is ending, and, as a consequence, houseprices are falling as landlords will make less profits - without the subsidy the housing stock value is falling.
FACT:
(2) "Look - 90% of people rented at the start of the century, and it was normal not to ever own your home. I believe things are coming full circle and the same factors that made more people rent in 1910 then are here now. People best make way for the the new landed gentry."
Although it was the norm to rent, even then the cost of a house was not out of line with the wage multiple of 3-4 times earnings. However, people found they had to cover themselves and thier family for unemployment, illness etc... out of savings, had little job securitys, and they did not have access to finance. As these conditions changed, the ownership rate climbed within a few decades. By the time of the war, most households owned.
Now we do have a large reversal of these factors. A large part of the workforce, is basically forced into declaring themselves as being in 'self-employment' with little job security and no benifits - dispite the same taxes - having to cover themselves through savings against unemployment etc... with little pension and no ability to claim a living level of unemployment benifits.
However, this alone does not justify the houseprices.
MYTH 6B:
(3) "UK Debt is a trillion pounds, that is being racked up on credit cards"
Most of the debt, 85% of it according to the BOE, has been lent to the BTL market. They do not see a significant rise in current consumption. Lending against assets is viewed as alright.
From BrainClamp
zzg113 Disagres with above - Brainclamp, get your facts right. 85% is MORTGAGE debt, not specifically BTL DEBT.
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MYTH 7 -- BIG DISAGREEMENTS ON THIS MYTH -- Needs Clarification, I will move on as I don't want to get bogged down/ distracted with one myth.
Myth: Mass immigration to the UK means greater demand for housing.
Truth: In the last 10 years more people have LEFT the UK than the number entering the UK each year. The indigenous UK population is falling re the low birth rate and 30-something men who do not want to go near the 30-something women of this land so, in the future, less people in this country.
From: The Masked Tulip
Disagreement From Brain Clamp : There are more workers in this country than ever before. We have the highest immigration in history - ever.
We have the highest immigration of any country in the world.
The native population birth rate is falling, but the non-native birth rate is set to rocket, which will represent 85% of all new britons.
From ZZG113 - http://www.aviddetention.org.uk/migrationw...t-wing%20agenda - MIGRATION WATCH UK
Plenty more discussion on the post on this subject
COMMENTS ON MYTHS Pt 1. -- I think you'll find a myth is a traditional belief, commonly accepted ie house prices can only go up. This site is a minority view, therefore the myths will be found on whichever website from which you migrated.
From -Surveyor
2. I thought this whole site (hpc) was dedicated to property myths.
MYTH 8 -- Mortgage Lenders & Estate Agents tell the truth in their reports on property & prices
TRUTH -- They are vested interests who benefit from 'talking up' a property market & rising prices, so often distort the facts or do not tell the truth
From : SFASC
MYTH 9 -- Low interest rates make higher house prices more affordable
TRUTH - They lower your initial monthly repayment, but the debt is not eroded and your Total Lifetime Cost of housing(LCH) is exponentially higher.
From zzg113
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Maybe they're setting up a new religion.
The 7th Day Advertists, maybe.
Anybody got £250,000 for the collection box?
Oh silly me, for a minute I forgot Estate Agents were the vampire spawn of Satan, sucking sad FTB sinners into negative equity and bankruptcy hell with their vested interest, housing obsession mind spells.
For years on Sundays they normally danced naked in front of Tv property program repeats, recharging their powers worshipping false gods. but since their favourite Demon has failed to 'eat her hat' as she decreed and make house prices rise again, they have decided to open shop on Sundays as well instead of worshipping.
Wasn't this revealed in a film called the Homen 666 part 1-3
Its all so clear now .... HPC showed me the true light
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I've noticed 3 EA's opening here in Chester on Sunday, that I'm sure were not opening before.
Anyone else seeing this happening in their area & does this normally happen aroud Xmas ?
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********. If there were a shortage of houses you would be tripping over homeless people in the street every 2 seconds. There is a shortage of AFFORDABLE property.
Wrong. They lower your initial monthly repayment, but the debt is not eroded and your Total Lifetime Cost of housing(LCH) is exponentially higher.
Exactly , thats why I use it as an example of a common myth.
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Can regular HPC posters put together a list of common myths for the Uk property market and pin it on HPC, along with the situation in reality.
I'm getting more flack than usual from anxious homeowners I speak to, defending their ignorant positions. I would like to refer them to an educating list to save my breath.
It was also be interesting to hear which Myths people find most common. I come across 'There is a shortage of houses, so prices will not go down much, if at all' a lot, and recieve flack when trying to diferentiate it from 'there is a shortage of affordable property'
ADDED NOTE:
Webmaster has kindly pinned this topic at my request, so we can identify the main property myths along with a considered attempt at the translation of the myth in reality (I think truth is too strong a term in hindsight) .
Please try and stay on topic as I think this subject is important, given the smoke and mirrors used by the vested interests to hide what is really going on in the property market.
If they have time, I'd be grateful if a veteran HPC poster or two would agree to edit the myths as i don't feel my knowledge in the property area compares with theirs - PM me if wish - cheers
Edit by Mods: Discussion about what a "myth" is has been moved to this separate thread.
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Theres More ...Yet another lawsuit issued yesterday against Fannie Mae yesterday
Fannie Mae hit with fresh lawsuit
WASHINGTON (CBS.MW) -- Another group of investors hit beleaguered mortgage giant Fannie Mae with a lawsuit late Friday, charging the company hurt shareholders by deliberately misrepresenting earnings.
Top Fannie (FNM: news, chart, profile) executives "manipulated earnings in a fraudulent scheme to deceive investors about Fannie Mae's true financial state," the suit, filed by Ohio Attorney General Jim Petro, alleged.
"This deception could cost shareholders billions of dollars," Petro said.
Fannie is accused by its federal regulator of manipulating its earnings data, and shares of the company fell precipitously after the regulator's Sept. 22 report.
The company's stock price lost 10.3 percent over two days to close at $66.50 on Sept. 23. On Friday the stock closed at $68.10, down $1.87.
On Monday, Fannie missed a Securities and Exchange Commission deadline to file its third-quarter earnings and also said it may post an aftertax loss of $9 billion as of Sept. 30, if the SEC determines the company has been accounting improperly for derivatives.
At least two other groups of investors have sued Fannie this month. One suit, filed in a Washington federal court, is on behalf of investors who bought Fannie's common stock between Jan. 13, 2000, and Sept. 22, 2004. The other, filed in New York, represents investors who bought the stock between Oct. 16, 2003, and Sept. 22, 2004.
Chartered by Congress to help low- and medium-income Americans buy homes, Fannie Mae is one of the nation's largest financial companies, with close to $1 trillion in assets.
http://cbs.marketwatch.com/news/story.asp?...st=google&dist=
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Been out of London for 10 months now, after 13 years in the Smoke & am very, very happy in the North East of England.
Lived in places from the economic extremes of Regents Park in the North to Peckham in the South.
The Stress and agggression of London is the biggest life shortener, hope I don't have to go back. I go back every couple of months for a couple of days & it always seems the same ruthless & paranoid place.
I think you have to move out for 6 months to know what hell you put up with in London. Although not as evil as New York IMO, take a wage cut and escape the place, you don't know what your missing.
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Tell your bullish friend that you've read that Green Peace say we are going to have an environmental apocalypse in 25 years (they truly are) so you'd rather sit this mortage thing out at present and see if thing improve globally
That should get him off your back
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Why don't they change the name to 'Property Bladder' as its expanding a bubble shape and they're taking the piss!
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I did post the comment below and mention suprise at no property ladder talk on HPC in the 'House Prices In First Falls For 8 Years
in Wales' post about 15 mins before you posted.
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I'm suprised not to se any comment on HPC about Property ladders BTL beginner in S. Wales.
I know from a person who works on a progs like scrap yard challenge that the contestants are given so much help, tht it becomes a farce.
I guess a similar amount must happen in Property Ladder etc. don't want to upset those mortgage & loan seller sponsors Direct Line by having a failure do we? It all seems so easy... not.
20:00 Property Ladder
[subtitles]
Property Ladder Returns
With four properties under her belt and another two in the pipeline, Kim Maoate's property developing career appears to be coming along in leaps and bounds - but has she bitten off more than she can chew? Sarah Beeny goes back to check on her progress.
http://www.channel4.com/4homes/ontv/proper...dder/index.html
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Bruno appears to have done more work on the site.worked When Economic Doom Master Websites Become Art ! or at least a laugh www.powroznik.freeserve.co.uk
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I'm suprised not to se any comment on HPC about Property ladders BTL beginner in S. Wales.
I know from a person who works on a progs like scrap yard challenge that the contestants are given so much help, tht it becomes a farce.
I guess a similar amount must happen in Property Ladder etc. don't want to upset those mortgage & loan seller sponsors Direct Line by having a failure do we? It all seems so easy... not.
20:00 Property Ladder
[subtitles]
Property Ladder Returns
With four properties under her belt and another two in the pipeline, Kim Maoate's property developing career appears to be coming along in leaps and bounds - but has she bitten off more than she can chew? Sarah Beeny goes back to check on her progress.
http://www.channel4.com/4homes/ontv/proper...dder/index.html
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Their ebay feedback rating is a bit low at 95%, I think general cocensus is that anyone below 98% is best avoided.
Its curious that selling/buying cars has been a massive success on ebay whereas property has been less so.
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In around the 1850's, a man looking like Isambard Kingdom Brunel in his top hat is standing with his son next to St. Pancras Station, looking across Kings Cross.
He turns to his son and says 'One day my son, this will all be whores'
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(courtesy of a old Private Eye cartoon)
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the thing is these houses were originally 2k because the area(s) were down trodden and finished. if you saw the newsnight programme about Grangetown in Middlesbrough you will know the sort of area i am on about.
no one wanted to live there
those areas that have seen no cash injections and ''clean'' ups still can't attract people to live there.....cpo's beckon (ie Grangetown).however, there are some places that have seen a massive regeneration both by private money and local councils(the local councils being the initial impetus) in order to go back down to 2k both investors and OO'cs would have to desert the area. with the regen plans that have gone on this simply is'nt going to happen.new blood comes into the area, owner occupiers, student lets etc etc etc.
i will bet all my houses that you have not been to see the areas that you speak of, (Liverpool, Newcastle) therefore quite frankly you do not know what you are talking about.
some areas do genuinely make it. others reach the CPO heap long before they are selling for 25k. i own some properties that five years ago people would have laughed at you if you told them you were buying there. a few weeks ago a multi million pound visitor attraction opened within the village. i'm not the only one who thought the area had potential.
The so-called 'regeneration' industry in poor areas or more accurately named 'regentrification' is all about the creating the 'Appearance' of regentrification and box ticking, so you can get the next amount of funding, not actually doing it.
The areas soon return to being high in crime/poverty as the fundamentals problems are ignored/patched.
If these orgs. don't get enormous amounts of funding, they move on straight away calling everything a success, so they can duplicate it in othe poor areas.
The Orgs. involved in these areas are notorious for forming cartels and are riddled with corruption, I was working in depressed areas of S. London, so came across these scum/vultures and sued some of them.
It is very difficult to know what is going on in these areas from the outside, as the orgs are very secretive and councils cover it up as they look bad for supporting these orgs. What gets me is that these people deprive and decieve the poorest people, probably the only way to dent them is to send in 'ghost squads ( very secretive, undercover investigators ) and make examples of them. :angry:
Bbc News House Price Special Report Now !
in House prices and the economy
Posted
Main bbc 1 6 o' clock news - Missed a bit of it, but the guy interviewed was talking of 'Modest Falls' and 'how far it will go down is uncertain'. Also stated that the BoE has to make its mind up in regard to interest rates.
Highly bearish - Ho ho