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House Price Crash Forum

Pappie

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About Pappie

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    HPC Newbie
  1. I work in between Holborn and Oxford Street. Currently I take the train that terminates at Charing Cross and then it's a short walk to work. I wouldn't mind using Euston station either.
  2. I moved to South London a few months ago and I quite like it. I have experienced living in Lee and Lewisham (very convenient). Most of the people that I meet from the locality recommend that if want to get a house, I should consider Bromley (especially Bickley area). I haven't visited the area yet but from the aerial photos it looks like Ruislip, tidy and with open spaces. My only concern is commuting to central London where I work. Rail connections are not that good from Bromley. What are your experiences from this area?
  3. I bought some property in Goa after a colleague promoted it me as 'an investment' but so far I only had costs and have put lots of time and effort to satisfy the bureaucrats from his country. Not worth it in my opinion unless you really want to live there.
  4. A colleague of mine promoted me a property in Goa and I went for it. The end result is that I got screwed up, by a colleague!!! I am now trying to sell it and get out. There are so many formalities that need to be completed that they are not nearly worth my time and there are so many people ready to milk a white westerner. I made a mistake, never again.
  5. Many thanks to everyone for your contributions! I am now checking out the links posted in previous replies. I guess I need to do a lot more reading before I commit large sums of money to precious metals. I'm just interested in silver by the way. i think gold is overvalued, and while it may go higher due to today's economic crisis, its actual value is way lower than $1000. Silver on the other hand is a much better bet as it can shoot up anytime. Will keep you posted on my plan of action.
  6. I have been thinking of buying silver for some time now but I am put off by the VAT charges and CGT. A colleague of mine suggested that I could open a bank account in Switzerland, buy precious metals at the counter (from what I read this is what all Swiss banks do) and hold it there. It may still be problematic bringing (any) profits back to the UK in the long run but what do you think of the idea? I am a complete newbie in such investments by the way.
  7. I have been thinking of buying silver for some time now but I am put off by the VAT charges and CGT. A colleague of mine suggested that I could open an account in Switzerland, buy precious metals at the counter (from what I read this is what all Swiss banks do) and hold it there. It may still be problematic bringing (any) profits back to the UK in the long run but what do you think of the idea? I am a complete newbie in such investments by the way.
  8. I don't contribute very often but as someone from different cultural background (I've been living in the UK for 9 years, mind you) I still don't get some things about British culture: Why should adult children have to leave their family home when they reach adulthood? Why would they be a burden for the parents? Also, if I had adult children living with me in my country (Greece) and charging them rent, people would spit on me. I agree that a young person can live off £180/week but if it's his choice to live with his family I don't see any problem with that. If he is prudent and saves the money, he may be able to afford his own home (much) later on in life. Another contributor mentioned that if he spends all his money on going out, vacations abroad, etc. he won't have any money left, which is perfectly understandable. Bear in mind that in the old days people were spending more on basic goods like food and clothing while big assets like housing were comparatively cheaper. Now, we can get all our designer clothes relatively cheap, cheaper holidays but the cost of housing is substantially more. Young people earning mid to low income have very little chances of owning a house. Also when I hear that they find it difficult to get the 10% deposit I get very annoyed. If people can never earn the money to pay off the debt why do they even bother taking it on anyway? By taking on such high depts, they fuel the bubble and they become debt slaves. People should only leave within their means, agreed. In my country however, as well as many other eastern countries, adult children are never alone. It is customary that at least by the time children get married their family/ies can give them a property to live. I don't know if this clashes with any individualistic instincts of the British family but this is very common in other cultures. While parents who provide more to their children may have less freedom themselves (less exotic holidays and fast cars), they are rewarded as their children look after them till old age. I am speechless when I hear that some British people haven;t seen their old parents for 10 years even though they may live few miles away from them. I truly believe that British families should be more cohesive and more supportive to one another.
  9. Excellent post. I couldn't have said it better myself. I would like to note though that the poor economic situation of the country is the fault of the citizens. They are simply too conformist. They should be demanding efficiency from the state and reward/punish politicians accordingly. They should be demanding the dissolution of the Olympic Airways, whose yearly loss is more than enough to cover for the farmers' aid, They should be protesting against the bloated public sector that sucks all the money out of the country's budget, and so on. People in Greece need to wake up and demand a better future for themselves and their children.
  10. I am no expert of the Russian market but I can assume that it's the black money that drives the property prices upwards. Same situation in India by the way. Once the flow of black money stops then we may see a crash in these markets. Moscow, as many regions in India, are grossly overpriced. The question is to what extent will the black money reserves of people keep pushing those property markets.
  11. I would rather shoot the ******* (Madoff) and get free meals and accommodation in jail :angry:
  12. You are close.... what i don't support though is those idiots who play the role of 'rebel without a cause'. In the UK we have yobs, in Greece we call them anarchics. They often come from a wealthy/middle class background and they tend to start riots, bandalise, and pick fights with the police. The youth that was shot was in a group of 30 people who attacked a patrol car. Imagine the position of the police officers inside the car waiting the young mob to overturn the car and trash it basically. The police officer (from what I read in the news) fired a warning shot and it killed that kid. I doubt this was the intention of the cop and, sorry for my cynicism, tough luck for the kid. If this had happened in the US, the police would have shot all 30 of them and noone would even bat an eyelid. During the dictatorship, the young students from the polytechnic were posing the strongest resistance and many of them gave their lives to get rid of the scum who took over the country. After the fall of the dictatorship the government introduced a law recognising 'academic asylum', meaning that anybody could barricade himself within an academic institution and noone would be able to touch him (the ultimate authority in this case lies on the chancellor or whoever is in charge of the institution). Every year when Greeks have the anniversary of the polytechnic, the anarchics barge in, make millions of £ of damage and they leave as if nothing happened. What a disgrace.... the police should be allowed to beat the crap out of them.
  13. I agree, he has surprisingly sober views for a car nut
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