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About Paul77

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  1. Nothing to see here, Papa Jerome will announce a few extra trillions on Wednesday. Problem solved.
  2. You're right about Scotland, some flats in Edinburgh are even selling for lower than 3 years ago. eg. Marchmont Road, I was viewing a 2bed flat back in 2018, 360k OO, quickly went for 398k. Similar flats advertised today for 350k OO aren't selling for months and I don't think anyone will offer more than 360k. btw. yes, post some links please!
  3. Who would have thought gold will be the worst performing asset in 12 months of printing to infinity..?
  4. Remember, get a jab if you want to go on holidays this summer
  5. Apologies for late response, I don't go back in time that often so I had to speak to my father so I could refresh my memory a bit I have also listened to this podcast, yes agree, if your kids are starving, you'd be willing to offer 1 ounce of gold for a meal, but hey, at the same time you will be thankful that you had it in the first place! I am originally from Poland and it was back in 1989/1990 when the inflation hit something like 1000% in 12 months, my experience was very different compared to Romania, but it's worth mentioning that countries like Poland, Hungary and Czechoslovakia were experiencing relatively mild version of communism, whereas them were led by a dictator. Back in the 80's we were saying that Romania is the worst country in the whole Soviet block as even the kids weren't smiling at all and snow was always black (due to air pollution). So, our 'initial conditions' were much better and also, we didn't have blood in the streets during the transition period as they had. I was living in a small city, approx 280k inhabitants, we were not starving at all - maybe because Poland is (and always was) growing lots of food? There was some barter involved but not to a great extent, and in general people were making jokes or silly predictions on how high the price of USD will go this month rather than complaining about the situation. Maybe because we were used to the local currency being not worth much? Back in the 80's people were earning a few pounds per month because owning foreign currency was illegal and you could only buy it on a black market. Once the restrictions were lifted, exchange rate dropped overnight by something like 80-90% (people lost a fortune because of that..!) and we were finally able to buy foreign goods like Sony TV for a reasonable price. So, even with hyperinflation, relative price of some goods actually went down quite a lot! Don't have any data to support that but money velocity must have been very high, everyone was spending money quickly, not just on goods but lots of businesses were setup and people were investing everything they had. There was no personal debt, no credit cards etc... and it was very easy to setup a company as all the 'regulations' were on a single A4 page... Honestly, these were really good times of economic freedom, even though prices were skyrocketing. Prices of hard goods weren't increasing on a daily basis, they were keeping them the same till a new delivery has come. I remember being able to save 50% on batteries, it was only a matter of going to a shop 200m further away which still had old prices. Funny thing was with the petrol, at the end of a month nobody was able to afford it so the roads were empty. Back in 1988 you could buy a few bottled drinks with a 50 zl note, a few years later they were totally worthless and even kids were using them to wipe off their asses... it was quite common to see that in parks or public toilets. In 1995 the gov has announced redenomination which essentially removed 4 zeros. That was the official end of hyperinflation I think. Hope it's of any use for you
  6. I have experienced hyperinflation myself, and my parents have paid their outstanding 20 years of mortgage with a single monthly wage!
  7. HSBC is the only bank I know that allows that.
  8. Wait for me, I need to buy first then it will crash. I'll let you know, I promise.
  9. Hardly any exodus from what I can see, flats are still selling very quickly. https://espc.com/news/post/house-price-report-february-2021 House Price Report February 2021 2nd March 2021 Property market data - key points Over the past three months in Edinburgh, the Lothians, Fife and the Borders, the average selling price rose by 6.2% year-on-year to £265,446. The volume of property sales in these areas during this time was up 42.2% year-on-year. From December 2020 to February 2021, the number of new property listings in Edinburgh, the Lothians, Fife and the Borders was down 6.1% compared to the previous year. The median time for properties in these areas to be placed under offer during this time was 20 days, six days faster than last year. In Edinburgh, the Lothians Fife and the Borders, the average Home Report valuation attained over the past three months was 102.7% compared to 102.1% last year.
  10. Paul77

    Edinbugh Latest

    Probably because Aberdeen isn't a 'big city'
  11. My dream has come true, a debt that will pay me to own it..!
  12. Paul77

    Edinbugh Latest

    City centres where average asking rent has fallen most Inner London £2,219 (-12.4%) Edinburgh £1,124 (-10%) Manchester £1,022 (-5.3%) Birmingham £883 (-4.6%) Leeds £811 (-4.4%). https://www.theguardian.com/money/2021/jan/27/private-rents-fall-in-uks-biggest-cities-by-up-to-12-amid-covid-crisis (from the HPC home page)
  13. Paul77

    Edinbugh Latest

    Have a look at zoopla house prices, all the flats in Edinburgh that I'm checking are -4.35% down in the last 3 months.
  14. Message to Hedge Funds Managers: You will own nothing and you'll be happy!
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