tennaval
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Posts posted by tennaval
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wadya think guys, is this the dream cornish home youve been looking for?
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is this the worlds dumbest attempt to add value to a property?
Even if they are all high on mushrooms WTF !!!!!!! -
I was in Penzance a couple of weeks ago - I really like the place, its kind of quirky, but I can't work out what the people who live there do for jobs. Also, seeing as most of the housing appears to be densely-packed victorian terraces - where do they all park? The high street screams at you 'economically depressed' - charity shops, discount clothing stores, a run down shopping centre. Even so, I still can't believe the prices - I'm sure that they are on their way down - but how on earth did they get to these levels in the first place? (OK, I know - but it is still staggering).
The people in the central areas of Penzance around Morrab gardens, regents Square, Penlee gardens dont have jobs, they are mostly retired types, teachers, public sector, art admin workers, lured by the psuedo sophistication of the proliferating legacy art scene and the glistening expanse of Mounts bay ........and now wishing somebody had warned them about the drug problems, lack of parking, and evening revelry as teenagers run amok on friday and saturday nights. Not to mention the general drudge of hoards of ruddy faced fleece wearing over 60s traipsing aimlessly across the cobbles past the growing legion of charity and pound shops. A large percentage of the rest of the town to the north, largely unseen by daytrippers is on benefits, and are among some of the poorest wards in the country. Fishing and agriculture in decline Tourism and objective one is the only income. The more desirable areas in a 5 mile radius, like Newmill, have a surprisingly high turnover of ownership, as many did not anticipate and cannot hack the miserable weather of interminable rolling mists, wind, constant belts of driving rain from both the North coast and the more sheltered south. Those that can afford it often scurry back to the south east. Its very scenic on its day but my god take the rose tinted specs off before buying. I havent noticed it myself, but I hope some here are right and prices are falling, the polarity between the average wage and house prices is an absolute scandal and is one of the most marked in the country if not the top.
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All the money I have in savings accounts is ear marked for buying a house.
So It's effectively worth about 20% more than it was 2.5 years ago + the interest earned, so its up say maybe 25% in that time.
I think It's about to earn me in real terms 10% p.a. for the next 2 years...as prices plummet
It's not the savings rate you want to worry about, it's the price of the house you buy with your savings.
If you're thinking any other way then you ought to be over on:
www.carpricecrash.co.uk
www.foodpricecrash.co.uk
have a large str cash fund @ 4% in Santander for another 18 months (with free exit) and i'm employing exactly the same attitude as you ignoring general cost of living inflation and keeping eye only on house prices in target area, I'll wait as long as it takes as prices are going one way
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editors have switched agenda from feeding greed to instilling fear.....its happening folks................
http://www.dailymail.co.uk/news/article-1295806/House-prices-fall-flood-owners-rush-sell.html
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in the interests of documenting for posterity this media reversal ........
http://news.scotsman.com/business/House-prices-could-fall-by.6425428.jp
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poetry ................pure poetry
BBC - House prices: Surveyors expect property prices to fall
Telegraph - Home sellers hit 3-year high 2 hrs ago
Guardian.co.uk - Property demand falls as supply rises, says Rics report 2 hrs ago
Mail Online UK - The house price slump may last a decade, say experts in unprecedented warning to homeowners 3 hrs ago
Press Association - Further house price falls predicted 7 hrs ago
Reuters - UK House price balance hits 11-month low in June 8 hrs ago
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oh what a beautful morning........
Telegraph Home sellers hit 3-year high 2 hrs ago
Guardian.co.uk Property demand falls as supply rises, says Rics report 2 hrs ago
Mail Online UK The house price slump may last a decade, say experts in unprecedented warning to homeowners 3 hrs ago
Press Association Further house price falls predicted 7 hrs ago
Reuters UK House price balance hits 11-month low in June 8 hrs ago
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Dont worry imf will be in safe hands soon.......
http://www.timeslive.co.za/business/article449241.ece/Brown-rumoured-to-be-new-head-of-IMF
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Spot on Patrick Collinson.
Why Vince and the Tory/Libs should stick to their guns on CGT.......
(Wanted to put on HPC front page but dont have the skills/know how)
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Bearing in mind that this is one of the better interest paying savings accounts, are people only putting in 50K because of the FSA guarantee........or are they putting in considerably more?
I've got a very hefty chunk of funds to move and really aren't sure wether to lump them all with M & S, or keep spreading them around achieving less interest.
I'd appreciate peoples thoughts on this......
i have STR fund (£250000+) with Santander @ 2yr 4% (no withdraw pen) had they pulled it i would have definitely used this one without hesitation. Given the circumstances and rate above now reduced, its he best deal around for an STR fund.
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Would appeal to somebody who doesn't know what "Cornish Unit" means.
Though I am sure they will find out when they try to get a mortgage.
Had never heard the term "cornish unit', is it just a a euphimism for a particular prefab, like woolaway, or does it mean it's mundic infested too
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Same load of overpriced crap in the £350-600k range down here in the far west of Cornwall. Although this one has dropped from £550k to £480k : http://www.rightmove.co.uk/property-for-sale/property-24951046.html
Which puts it almost on a par with:
http://www.rightmove.co.uk/property-for-sale/property-15591589.html
Which I didn't realise was right on the A30. WTF, this has got to be one of the most overpriced houses in Britain!
Still dont think they will get anything like that with it being so close to B3315, people retiring and spending £480,000 wont want traffic noise. Plus i think (hope) sentiment is really only just at a mainstream tipping point right now as people are waking up to the grim economic reality.
yes you might be right about the second one ( first saw from you on C24! I think) madness isnt it? In someways its quite representative, encapsulating whats happened to the region as whole. it's the new cornish vernacular, having swung from stoical well made dressed granite with scantle slate roofs that housed miners and farm labourers we now have charmless cement rendered, subdivided flats housing people on benefits or on minimum wage in the tourist industry.....depressing and why I have had to change my lifelong ambition to return to Penwith....its been a difficult process...but despite being blessed on its day with some of the finest scenery in the world......its culturally so messed up relying totally as it does on retirees and holiday makers.... i have known 7 groups of people who have moved there who simply couldnt hack the weather and suffocating parochialism......sorry if dampening others enthusiasm.
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Tesco riding high, expanding well in USA (fresh and easy) share price at 52 week high, and Warren Buffet has just topped up to own 3%.
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Why? Why is there a deliberate policy by Mervyn King to continue devaluing the pound. Tell me wise ones who know. From the very start of the "crisis" his public statements and speeches were clearly constructed to devalue the pound. Was the reason behind this just to give extra traction to the UKs phantom exporters? Out trots Merve and says a weak pound would be 'helpful' in rebalancing the UK economy. Oh, fair enough, thats all right then. Is the BOEs thinking really this one dimensional? Or is there an another agenda? I'm not an economist, but i dont think you have to be to realise this country is totally and irredeemably fooked.
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The assumptions behind your conclusion are highly debatable.
what assumptions are "highly debatable"?
Santander IS one of the largest banks in the world, 7th in terms of profit, with largest retail network in the western world (10,852 branches).
Santander HAS had a conservative ethos for over 150yrs.
Santander CONTINUED to make profitis throughout the crisis. (despite meltdown in some sectors of Spanish property)
Santander IS one of the strongest banks in the UK.
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Having been caught out by the ICESAVE collapse I am a bit wary of going with the highest offer around now. I have £11.5K in a Natwest ISA which has come to the end of the bonus period so am looking for another instant cash ISA. I already have other savings fixed so want a flexible home for this.
With the markets and currencies looking a little shaky at the moment, and it being extremely doubtful that any government (particularly the Spanish and British) can afford another bail out what do people think of the risks here?
I have over £300,000 (str) with santander in fixed rate bonds and the same ISA. one of the safest and largest banks in the world. Traditional ethos. Well run. Have continued to make profits throughout the crisis. Understand your concerns but imo you are making the safest choice in UK.
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Yeah, cos the stock market never goes down, does it
like many i am just trying to work out how best to protect hard earned cash for retirement, im not an expert, i'm 52 with zero pension and my instinct tells me over a 15-20 yr period a basket of blue chips which as AZ points can comfortably provide 4.5% div and historically (over 15-20yrs) outperform cash is preferable to plumping ONLY for cash in an inflationary environment. Does that really make no sense to you?
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yes? Or no?
yes
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I always try to squirrel away the max amount into my ISA every year. As I understand it, the government can tax you in retirement on any other savings you have? Please confirm!
I must find out how a stocks/shares ISA works... Can you still put in £5100 each year (starting from this April) and also add.... £7200 capital in the form of stocks? What if you make money on the shares? That can't get added to the ISA pot...?
No they cant tax your isa pot. But my point is how much is that pot going to be worth, it will be seriously eroded over a period of years from inflation, even with the tax wrapper and maybe the smarter option is to put into a blue chip fund or an income and growth fund, because we are entering a highly inflationary period, and in my opinion central banks will manipulate and skew rates to erode debt whereas, big companies will ultimately always find a way to keep their margins. None of us know but this is my instinct.
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I'd argue with the contention that you can get significantly better rates net of tax elsewhere, but that's irrelevant really. When interest rates go up, if you've managed to bank several year's worth of cash ISAs, you will certainly feel the benefit of the tax free status.
If you raid your cash ISAs now in the hope of ekeing out an extra 0.1% somewhere, you will never be able to reclaim those lost years tax-free allowances.
Point taken, also the benefit to higher rate tax payers. I must admit it was my game plan to do exactly this, however, I just doubt whether salting away good money year on year into a cash isa pot will be as good a protection from inflation as say a basket of blue chips that will preserve their margins over the longer term no matter what. I guess the obvious answer is to spread it around......?
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whats the point of cash isas? when you can and have been able to get better rates net of tax elsewhere for quite a while now? Certainly the case on the shorter term products anyway, Is it just the magical notion of "tax free" that is the pull or am i missing something, do people hope that when interest rates rise isa rates will somehow adjust more favourably with taxable products....?
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Can say that italy has had no hpc. Sellers still asking peak prices or even more.
Sure you can find cheap proprterty in southern italy where there are few employment opportunities.
In northern italy an average house costs more than 10 times net salary incomes.
Average salaries 14000 euros per year. Almost impossible to get a permanent contract for young people or if you lose your job/get sacked as employers prefer to use agencies/short term contracts so you have virtually no employment rights.
My ex has a one bed apartment in Treviso its floorspace is 68m2 and an identical apt one floor up sold for 174,000 euros less than six months back.
Affordability is shocking with many staying home with parents well into thier thirties, almost impossible to buy as a single person unless you have a VERY good job, you need two incomes to buy and what happens if you split up
.Many young people who dont have wealthy parents only hope of owning is inheritance.
ITS NOT JUST HERE IN THE UK.
Agree with most of what you say. House prices in relation to income second only to Japan I believe. The lower end of the market has as in your example held up relatively well in areas of demand ie. prosperous commercial areas. However the middle of the market has been hit, for examples 300-600,000 euro bracket has been beset with lower transaction numbers and agreed prices often 15% off peak. Italys property market is very different from Uk and its almost impossible to make comparisons. The Agencia territorio which collects data, publishes offical figures by province on a square metre basis, it lags by 6 months, and trends are consequently heavily smoothed. It really is such a completely different set of circumstances in Italy to Uk, not least the pooling of wealth and economies of scale derived through extended family often living under the same roof. It is actually a very good time to buy at the moment in those areas popular with Brits, eg. Umbria, le marche, abruzzo, as many cant afford to stay. You can buy in sterling. The problem is however hard you negotiate, you will face the same problem of ongoing survival with a trashed £ in a country which is every bit as expensive as our own. That said its a beautiful country, and still well worth the trade of lower disposable income.
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Marks & Spencer have a 3 year 4% fixed rate bond on the go at the minute, closure is possible via a fixed fee of £100 (negligible on large deposits).
Deposits can only be done in one hit though if you want all the funds to go into the same bond, either via cheque or debit card. The debit card route seems to be limited to £50k and anything above that they attempt to do in multiple chunks, which may or may not work.
Having gone through the debit card route on a large amount I'd recommend avoiding it and using a cheque. Although my funds were apparently available and could be withdrawn nothing above the first £50k was authorised despite me calling up my bank umpteen times. In the end I had to abandon the application and ask for the £50k to be returned to my card as I did not want multiple bonds with multiple penalties applicable on closure.
Odds are you'll use this as a quick and dirty fix until something better comes along and the £100 penalty is liveable, unlike a 90-days loss of interest.
Thanks that's a really good option to consider!!!!!!
Ns&i Index Linkers Purchased 2007 Returned Me 13.61%
in Cash ISA's and Savings Accounts
Posted
correction: That WAS interesting
withdrawn