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dandandan

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About dandandan

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  1. one of Italy's problems as i see it is similar to Greece, in the south they tend to pay cash, and not have bank accounts or pay tax properly. that and the local councils frequently mislay funds for things. there was a big scandal a few years back where all the money to service the roads went missing, as well as the minister for that particular project. what is interesting is who Italy is in debt to, a handy graphic of all the euro countries shows that France is well and truly screwed if Italy go down, which in my opinion is why they haven't already, and probably wont in the future unless the whole euro zone goes tits up
  2. doesn't this tie in with the Alt-A mortgage resets? seem to remember a graph where they were all coming up for renewal around October, so add 3 months before a foreclosure notice and you get to now.
  3. unfortunatly classic car insurance wont cover someone under 23 and in most cases 25. they are also very restrictive if you dont have off street parking and its your only car. that said when i bought mine (mk1 escort) it cost 750quid fully comp and i was 23. that went down to 250 2 years ago (im 29 now). there are big downsides though, i didnt build up a no claims bonus, was restricted to 7000 miles a year and was not covered for commuting. it meant when i got a 'normal' car i was still stung on insurance. classic cars are cheaper even if you have to go on a regular policy but your looking at over 1500quid to insure something like a 900cc mini. the only solution kids have these days is to be a named driver on a parents policy and even that is incredibly pricey compared to how it used to be when i was learning.
  4. surely if the price of bread did anything it would rise.... ok i'll get me coat
  5. to go back to the OP, when i first moved to london about 8 years ago, i was earning 14k pre tax (about 970 a month after tax). i lived in a shared house with some mates and it cost 550 a month incl bills, it cost 90 a month in transport to and from work. i had to make sacrifices (didnt buy clothes, or eat out too much) but still really enjoyed myself, still went on big nights out, went to a lot of gigs and went snowboarding at the end of the year... i didnt do weekend breaks or fancy meals, i had no phone contract (payg) etc. i now earn quite a bit more and thanks to sharing with my girlfriend and a mate pay less in monthly rent and bills. i treat myself a bit more and take another holiday or two but i pocket the most part of the difference. i didnt live in my overdraught, i just budgeted properly. if i had a cheap month i would put it aside rather than spend it, which is really all i do now.
  6. Almost forgot about this thread Well not a lot has happened in the passing months, other than pretty much every family gathering has involved me telling people i’m not interested in buying until I can buy a place without taking a massive risk with my finances and that being set by a reasonable multiple of my income. I feel quite fortunate that most of my family have a basic grasp of maths and can see it really doesn’t make any sense for me to over stretch and that the current market is not as it seems. There is little or no choice of houses out there, there hasn’t been for a long while now. but places are going under offer quickly (3-4 weeks for a tidy place) and haven’t come back on yet... however I have noticed a few of my property bee listings being revised after they've been changed to sstc, which seems a little odd. We have also renewed the rent on our flat, which will be the same as last year, I did try for a reduction but as a nearby flat let for the same as ours with one less bedroom I didn’t have much hope. So that’s another year we can sit and wait quite happily Interesting times ahead, post election I think we'll see things pan out, even if the government stays the same. it all feels so fragile, but we shall have to wait and see.
  7. it does sound a little far fetched to me, but then i wouldnt mind having a go on her cupcakes either
  8. i do think we're just waiting in limbo, but i put that down to the looming election. following it and the inevitable tax hikes i dont see the possibility for any sort of recovery. my money is on a japan style lost decade only worse as we dont have they're manufacturing export base. or do as i have and get a pre jan 73 car and pay no tax at all, whatever engine it has
  9. sand all the flaking paint off, and then paint it with PVA glue, let it dry and paint over the top with normal emultion. should last a few years. ive done this in a place i lived in before and it worked well enough
  10. having seen the provisional budget for next year im not expecting a pay rise. we didnt get one last year either, although they did reduce our hours as a reward... not that they reduced the work load to go with it, we now do 37.5 hours a week (down from 40) and still get no paid overtime. ive already draughted my resignation letter pending a pay rise next year. been here 2 years and for over half that time ive been banging on about savings i know they could make (totaling 100k in that time) and they have barely bothered to listen, if they can afford to piss the money up the wall on that they can give me a poxy payrise
  11. erm... so a survey by a company that sells security services says shops need to be more secure.... not saying its not happening but hardly an un-biased source is it
  12. another month and not a great deal.. a few EAs calling just to check I'm still looking, i repeat the same requirements and get the standard reply of 'thats fairly restrictive, I'm sure our brokers can find you a bigger mortgage, houses are selling fast etc etc' fair enough but i cant be bothered any more. i look on rightmove and the decent properties are; too expensive and still for sale, crap and in a bad area and not sold, or very nice in a nice area and go to offers within a month or so and eventually sold. there is money out there buying houses, but there just isn't enough supply of good stock, hence price rises IMO. another more interesting note we had another family meet up and i was rather surprised to find out 2 of my cousins had bought places (signed and sealed). given that last time we spoke (in April) they had a vague interest in buying but hardly anything serious. they've both bought 2 bed places in south London, both with healthy assistance from the bank of mum and dad... the best bit being a quote from said mum of "well she had to get a 2 bed so she could let the other room out, without that she wouldn't be able to afford the mortgage" ... i actually choked on the food i was eating at the time.. what a brilliant position to be in, only being able to afford the house if your in work and have a lodger, sounds like a faultless plan to me, what could go wrong with that? this ties in with my work colleague who also completed on a 2 bed flat in the last month or so. he went from not showing much interest to putting in an offer that was accepted in about a month. 1 month to decide how to spend the most amount of money you ever will in your life... bank of mum and dad for deposit, and living with a family member to afford the payments. he's actually moved in recently, and i managed to get a few details altho not much. his mortgage is 39% of his take home pay, fine as long as him and his brother stay in work. but a bit close for comfort if something should happen. the other thing that was often said at the family gathering was 'this recession isn't really effecting anybody' i added that we have yet to pay for it, come the vat increase, come the election and the tax increase and everyone will see. there is still so much finger in the ears la la la I'm not listening going on. people that should know better having worked through previous recessions just seem happy to not even think about what might happen. the credit crunch has been and gone and its game on as usual IMO i feel this bounce is being funded by the boomer generation giving their kids the funds to buy. and foreigners using the favourable exchange to see big discounts (the missus has lots of Italian friends who have all commented how cheap it is now compared to how it used to be).. i wouldn't be surprised if we saw this rally in housing continue for a lot longer than many were thinking (myself included) in many ways i think its quite necessary, the more funding goes in now the bigger cushion the banks have when it slides again. this country is so broke its not going to be fixed any time soon.
  13. fantastic. thanks guys. already saved me a stack of cash with rent renewals. not to mention one of the things that stopped me buying a house.. cheers
  14. Cheers for the input guys. always interesting to hear more anecdotal stuff Another month has past, and we've really decided that come rent renewal (march next year) we'll move area, most probably further north east (still in London) the current plan is to try and find somewhere in a not too shabby area, 1bed flat for around 800-900pcm which might be a tall order but I think it’s possible. be around south/west Hampstead probably closer to Kilburn, not the best but then no worse than where we are now. Regardless of what happens with house prices we still don’t have enough for a comfortable deposit (have 25%) but would leave us with nothing, so the priority is to put some more a side and give us both a decent sized buffer.... I really haven’t a clue what will happen in the future with regards to the hpc, I can’t help but feel we'll stay as we are till after the election, and even then it'll be a slow grind down rather than another full on crash. I don’t see how any sustained growth can keep momentum, while few are getting pay rises the money just won’t be there.... but then you could have said the same every year for over 10 years. Also a recent trip to Amsterdam reminded me of how much the pound is fecked, it worked out more expensive than London even with a generous exchange rate and we weren’t keeping to the tourist traps... although we didn’t spend too much, it was a constant effort to make sure we didn’t overspend, which isn’t very nice when you are on a short break. on the flip side we have friends coming over from Italy this week, and for them it will seem very very cheap compared to the last time they came 3 years ago. Another little add on is that I’ve recently put my car up for sale... had it for 5 years, and it now needs welding work which I can’t do myself where I live and can’t really afford to pay someone to do (down here at least) it’s been up for 2 weeks and I’ve only had 1 enquiry... it would seem that mint and immaculate classic cars are still making the same (silly) money they have for the last few years, but anything that’s a project no matter how well spec'd just doesn’t sell. I think this is much the same as houses, and like a stubborn vendor I don’t need to sell so the price stays as it is unlike a house though i'm not reliant on low interest rates to be able to afford it. For house prices low IR’s are the key IMHO. And we won’t see anything significant in terms of drops till that changes… without a complete system meltdown which I wouldn’t rule out :S
  15. I've had many debate with people about this. when i was growing up all my friends played instruments, were in bands etc (including myself). the group of guys that stayed in my home town are still there or around the area and they still play. they've won unsigned awards and don't make a bad sound, but have never and probably never will make any decent money from it. but 2 years ago they set up their own label to put music out, found other bands and collectively they try to get more bands music out there... sure if they could make money it would be a bonus, but its their passionate hobby, and they will be still doing it even if they never make a penny from it. of the same group of friends one moved to London about the same time i did. he worked as a runner/assistant in a few record companies and saw the way things happen. even in an 'indie' lable there are lots of people all taking their cut, there isnt much left for the artist, but then they get more freedom to make the music they want... the same guy now organises a monthy gig, it celebrated its first aniversary the other week, and he's gone from having 20people attend (first night) to exceeding their allowance and having to turn people away. and in my view this is due to them finding artists and bands who are good enough for people to trust the organisers that next month they'll be jsut as good. to quote waynes world 'if you book them, they will come'... good bands and artists create a following, these people will buy their records and follow them, from small venues to large. and this is where the artist gets the reward, a recording will never, never be able to capture a live performance in its all.... it does however mean the record companies need to re-structure because their current model is doomed to fail because its about making money, not making music.
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