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House Price Crash Forum


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Posts posted by JimDiGritz

  1. 18 hours ago, janch said:

    Hopefully the police will prosecute and the LL will be jailed........then he won't be able to collect the rent:).   Let's hope the Guardian take up the story. Also are you in an area where there is a LL register?  This is one reason why there should be such a register nationwide.

    I think that there's only one register this guy should be on....

  2. 20 hours ago, crashmonitor said:

    Morrisons is the 3rd. Which I dont. Whats wrong with Morrisons? They dont carry debt. If I was to bet on any supermarket lasting it would be Morrisons - they horizoantally integrated so can survive the margins uts other SM are seeing.

    Morrisons have a £9bn property estate, perhaps the markets are predicting a property crash... hmmmm

  3. 12 hours ago, Toast said:

    So, is the suggestion that they are stockpiling 3 year old cars, but recording them on the books as assets at the original estimated second-hand value, even though there is no market price discovery?

    Also, if at the end of a PCP deal, the actual second-hand value of the car is much smaller than originally estimated, and you choose to hand it back (rather than pay a balloon payment or try to negotiate "equity" on the next deal), then are there no consequences for you from the shortfall, so you can walk away scot-free?

    If the above is true, the finance arms of all the car manufacturers are walking dead.

    Well put. If they can limit true price discovery AND continue to offer cheap finance deals then they can keep prices high (sound familiar???)

  4. 1 minute ago, Bunfight said:

    I think they're being pushed to the car supermarkets.  Recently went to one at Gateshead, a couple of football fields big full of 2 - 3 year old lease vehicles.  All had the monthly figure prominently displayed.  To the Mathematically illiterate it must seem amazing, £250 a month for 4 years to get into a 4 series...

    Possibly, but after trawling autotrader the volumes just didn't stack up for me - I'm probably wrong on this, but I still suspect some manufacturer manipulation.

  5. I recently bought an ex demo (basically new) car in cash and part personal loan - I'm 40 and I've always owned 7-15yr old cars and put up with the hassle.

    What surprised me is the lack of nearly new, low mileage ex PCP 2-3yr old cars on the market. Given that everybody and their dog is leasing a car on PCP I'd expect a glut of low mileage 2-3 year old cars - but the volume is just not there.

    My suspicion is that these cars are being mothballed/exported to keep the residuals up - I assume that if all of these ex PCP cars came straight onto the market the second hand prices would drag the residuals and new car prices down which would cause chaos for the PCP industry.


  6. 1 minute ago, Frugal Git said:

    The whole meritocracy thing is a fallacy with our money/education system and networks as they are.

    The eduation system always has been so far behind the curve of where it needs to be and what it should be teach ing (apart from a few elite level universities) that it's a joke. Again, as a parent *you* have to take control of your kids education, not outsource it to the state. And even then, I think most 'sucess' is down to the individual themselves to circumvent the ******** and decide what they want to excel at. Schooling makes very little difference.


    Sorry, you are conflating two issues.

    You're arguing that the defense against inequality in education is a feudal style wealth transfer.

    Of course parents have to take control of their kids education. Who said otherwise? I'm for abolishing virtually all state services and taxes - with the exception of Inheritance Tax. 

  7. 1 minute ago, Frugal Git said:


    Yes, exactly what I was saying at the start. Families who actually work as a unit do this automatically. 

    As for 'who earned it', in the last 15 years since I started (primarily) managing the family capital, it's a difficult call to make. They provided the seed funds, but the decisions on where to allocate it is a team effort. And it has grown, a lot. So it's no longer unearned wealth imho when it comes time.

    If you had no active involvement in building the capital or planning its succession, then you have very little option but to put up with the taxes I guess if it hasn't all been done for you by benevolent parents. I prefer to take control and know that things are done fairly with no nasty suprises.

    Sorry, this doesn't wash it's is self-justification. What about a BOMAD supported buyer outbidding a young couple who have come from no money - surely they're just  "managing the family capital" and we should admire their planning skills....

    I'm 100% for personal responsibility and a meritocracy.

    As for Errol's point about loopholes - sure there are plenty. Doesn't make the point of principle wrong.

  8. 2 minutes ago, Maynardgravy said:

    So because of tinternet there will be no further need for private education then? We can all just sit at home with google. Of course there will be no need for access to expensive items such as musical instruments or scientific apparatus.

    I'm not a communist and it's lazy to trot (excuse pun) this argument each time someone raises the point of an equal start. 

    For what it's worth I'm not a believer in the nanny state. I believe that after (free) university education, everyone should be on their own (apart from an NHS and a basic welfare system to fall back on). But for a true meritocracy you need to give everyone a good start, otherwise you just create excuses.

    Herr General.

    100% agreed, well put.

  9. 8 minutes ago, Greg Bowman said:

    My mum and dad earnt it or did yours steal theirs - pointless comment 

    As I said the elite would love your hit the proles thinking whilst they merrily whirl away and increase their wealth in trusts 

    Capital is the only way to be free of the system and your suggested tax rate stops working class people accumalting it

    Yet again comrade well done

    Sure parents earned it, but their kids didn't.

    Income tax should be near zero, then you'll see a true capitalist environment

  10. 3 minutes ago, goldbug9999 said:

    And good riddance, I dont want to have to pay someone to take photos.

    Nice. Good luck getting a good family portrait with a selfie stick and crap lighting.

    I ran a commercial advertising and portraiture studio for a few years back in 2007. Our lighting rig cost £100k alone. Sure the Hasselblads were digital and only cost £30k each, but the main investment was always in lighting.

    Despite the advances in sensor technology you can't break the laws of physics.

  11. It's a fair question.

    After renting for many, many years in the Surrey Hills I moved my family to the North East and we bought a 4 bed semi in a sleepy town for 2x my annual salary.

    The (similar) house we rented 'dan saff would have represented 7x my salary. Luckily my skills are transferable and I work from home 4/5 days. I do however have to commute 6+hours once a week.

    I've given up believing that a home in the SE can be bought by an honest, hardworking family. Unless of course they borrow 6x income or have an inheritance.



  12. A discussion with a friend left me realising that I've almost no understanding of the implications of (secured) debt on inheritance.

    The scenario we discussed can be summarised: A "Wealthy" individual has died and has left his estate to be divided among his 2 children. The estate comprises:

    • £1m in liquid assets (Cash; shares - etc.)
    • £4m in appraised value in real-estate [ 4 properties, say.]
    • £3m debt secured against the real-estate.


    While this scenario is entirely fictitious, it strikes me that it is (probably) not very unusual. In these circumstances, does probate just take a "very long time"? Is it possible to determine which properties may be in such a situation?

    I've nothing valuable to add except I'm starting to feel a little like I'm taking crazy pills.

    The OP reminded me that seemingly everyone in my age group (40-50) is talking about their inheritance, with many (esp. in the South East) mentioning *significant* figures like the above example.

    Am I the only person in the UK with expectations of inheriting absolutely nothing, nada, zilch?

    It sounds to me like everyone in my office, social group and forums are essentially going to 'win the lottery' in the next decade or so... perhaps that's why they're debt propelled and I'm living frugally...

  13. Has anybody used sovereigninvestments.co.uk. Prices seem good. Seen one recommendation.



    Help us out here peeps, I'm a wee bit concerned.

    Over on MSE a poster called Mr. & Mrs. posted and mentioned sovinvest. Now in the gold forum Tom321 has also mentioned them.

    Both started posting this month, both mention sovinvest..........am I getting worked up over nothing, or is anybody else concerned.


    Well they have a truly shit web site and frankly that's always a bad sign unless you are going to a physical premises to purchase.

    My 8 year old son could knock up a more convincing site than that.

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