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  1. 'We are not going broke,' says Fergus. 'We are not a penny behind in our loan payments. I think we are reasonably safe. If we go under, everybody is going under.' Yep, you and every other BTLer over the last 10 years...LOL
  2. This brought the scene from ghost to mind, Patrick Swazzi (?) singing to Whoopi Goldberg (?) SECOND VERSE, SAME AS THE FIRST ON AND ON AND ON...............
  3. +1 So much work done on our behalf each auction Thanks Tommyboy
  4. She can keep the shoes if we can bid for her fun bags !!!!!! Whatever happened to womens lib, and all that, treat me as an equal, since the mid 70's the morality and brain function of most brits appear to have been flushed down the toilet. Students prostituting themselves to get a soft subject degree. Big brother, Jeremy Karl and so many others, racing for the lowest common denominator morons to stick up on screen, and shit loads of "teen mags" where any female over size 6 without size E+ boobs is a non human, etc. etc. etc. Mum works PART TIME as a supply teacher and earns 25K per annum. For a start why are we paying that much for a part time bone head and secondly why does the local education authority take her off the temp register, as she has shown herself to be D- financial and Personal Health (PE) instructor.
  5. Sibley, yes some on this site are real TFH, but you have to look at the full economy to try to come to a realistic vision of the future. From the ASHE survey 2008 (office for national statistics) full +Part time 10% earn less than 117.2 pw circa £6094 per annum 50% earn less than 388.4 pw circa £20196 per annum 10% earn more than 852.8 pw circa £44345 per annum people at the bottom of the earnings pile will rent in the public and private sector, the uk inclination to own homes, will always to a degree, have people looking to the security?! of home ownership. Assume a couple where both are earning £20196 on a 3x +1 = possible mortgage of £80784 + an amount for the deposit. This will be the figure IMO for reasonable small starter homes. The 10% on greater than £44345 on 3x income can get £133035, just on single salary, but this will not be the first residence, he/she/they will have bought and sold, perhaps several times, working their way up the property ladder. The equity they bring could be several hundred thousound, so houses for 3, 4, 5 hundred thousand will still be available and will always be out of reach for the likes of you and me. Many things will skew the above figures. More financial losses in America, some Euro countries UK will dilute confidence further. CDS or bond defaults will hamstring banking for many years. Unemployment will force large numbers out of the housing market for some time. New conservative government in 18 months, will IMHO affect many benefits and pay as they try to reset the economy. See this website, Mish and Denninger and other blogs for more!!!!!. NOW STOP JUST TROLLING AND THINK
  6. People vote for labour party 3 times....
  7. Good point about inflation. Anyboby know? Didn't Woolworths and a few others shift a few hundred thousand pound in stock in January as they went T*T* up in the new year, voucher sales not as strong, but still some residual spending from Christmas one thinks...
  8. Early good threads about this, but perhaps a few other points to consider, apart from the headline 3x salary, is peoples expectations. I would imagine, that for a lot of people, from the 1950's to the 1970's it would have been. Couple save a deposit, while still living at home, buy small home and have sparse 2nd hand furniture. After a few years, due to only 30-50% of wages going to pay mortgage, they have saved some more and can afford to "move up to the average 2nd home. This continues until ready to move into a "family home" and start raising family. and slowly building up new furniture, car, better holidays along the way. Around the 70's, this seemed to change to young couple, get overpriced shoebox at ever greater multiples, with fitted kitchens, both with fairly new cars, holidays abroad every year, etc. etc. Basically the "I want everything and I want it now" culture. So yes we need to go back to a more sensible lending criteria, including a good deposit, and people need to lower the expectations to instant gratification.
  9. Best news I have heard so far. He tried to charter a jet and his credit card was declined...LOL. NOWHERE TO RUN
  10. Yes huw, basically a 50% haircut for any investor in PIG ecconomies, although this was only a guestimate figure I used to get the debate started, and would not necessarily have to be so severe. Either the whole EU blows up, or a semi-painful solution is found. These countries cannot inflate away the problems, as they have no currency, many people on the blog are suggesting they revert to the original currency. I am just suggesting a third way, maybe totally imposible, but maybe not. I very much appreciate, all views on this board, and am accepting of my own limited understanding of financial ramifications.
  11. Why does it have to be avoided? The strains on the EU are too much in my opinion. Yes a new currency would have to be printed, but all it would do, would be to create a two tier europe, where strong and week countries could operate according to their own econnomic needs! With a 2:1 conversion, backed up by the stronger nations, the PIGS will not be forced into a situation where they default on national debt, with longer term international implications. If wrong, please explain why not. Thanks
  12. OK, I don't know if this would work, so I'm ready to get flamed. EU (France and Germany) creates a new currency for the PIGS. The "Euro 2" is valued at a 2:1 ratio against the "main euro", this would give the PIGS an instant devalaution to there own currency, but still allow each of the countries to remain part of their own "currency block". main EU finance block, would sell bonds, based on the currency strength of the main EU, and "control" the printing and currency reserves etc. of EU2.
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