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Scooter

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Posts posted by Scooter

  1. Ok , so we're living in a low inflation environment (supposedly), and things (long term bonds) are expected to remain that way for the foreseeable future but can you really see the political powers allowing the situation of c30% nominal house price fallsto occur ?

    Clearly that would be political suicide.  Whilst I concede that governments have much less control over the economy than they would like us to think, I still think that we are likely to see massive inflation rather than massive price falls.

    In the event of falling incomes due to a worsening economy the banks are not likely to appreciate repossessing houses worth 30% less than the value of their loans.  Whereas in a high inflation, high interest rate environment their losses are likely to not be so bad -

    you may have seen 1914 v 1970 type arguments

    I reckon 1970s stagflation is more likely.

    What makes you think the "political powers" can do anything to stop a falling market? They never could before and that was before giving the MPC partial independence. Interest rates are a blunt instrument in any event. If we get inflation beyond the 2% range, interest rates will go up and house prices will fall faster than they probably will anyway.

    I will be political death for them though if it happens, as you suggest...

    S.

  2. How do these knobs keep a straight face. I am sure the terrorist outrage of 7/7 had a terrible effect on the April to June figures.

    And when did people start going away in the summer? Is that a new thing?

    Marcus Brilliant also said proudly "There are more properties on our books then ever before" as if massive supply and minimal demand at the current prices was somehow good for his business. Then again, if EAs had half a brain, they would probably be doing something different...

    S.

  3. Picked up the property supplement from the local rag this pm.  Big front page article... "Buy to let sector on the brink of a strong revival" says Assetz... and they should know, because they run a bunch of property investment companies  <_<

    It's a pity I haven't got time to type the whole article in, cos it's a cracker.  Especially the bit about how the fact that people won't buy property right now because of market uncertainty is a really good sign... it means you get lots of tenants to choose from. Hmmm.  And apparantly the market is 'currently offering' an average return on your investment of 35.4%!

    Lots and lots of property to choose from inside the paper as well.. 16 new developments advertised... free carpets, free kitchen appliances, stamp duty paid, legal fees paid, 5% deposit paid, up to £12,000 cashback (no, that's not a typo).

    LR figures show prices are falling round our way.  :P

    R

    A slow BTL market is good news, a busy BTL market is good news. How do you identify a bad BTL market? Perhaps no such market can exist... Lying scumbags. :angry:

  4. Did anyone see this. They mentioned that IR rates were likely to come down today and how this was to help encourage spending blah blah blah,  then que estate agent;

    I nearly choked on my crunchy nuts! 'Realistic' prices!

    No mention of how this is probably a short term move and how the job of the BoE should be to control inflation which is already about to go above target and therefore long term rates can only go up. They quoted it is likely to save someone with a £100K mortgage £16 a month. I mean, what difference is that going to make to the economy!?

    Pig ignorant journalists swallowing what the VIs give them and not stopping to consider the still obscene unnaffordability... :blink:

  5. That really sums up your average person's view. There's a real belief that prices can go up year after year after year. I had a similar conversation at the weekend - the guy just couldn't see that someone's got to be able to afford to buy the damn house!

    Even if it goes on for £140,000, it will sell for £120,000 or less perhaps, as the agents will have priced in a 10% drop on asking price. I don't know her but I can picture her and she really annoys me... :angry:

  6. Just to update and bring this up the list to see if it attracts any comments, lots of "for sale/to let signs" on the same houses in Hampstead/Belsize Park plus a few "sold" signs in the last few weeks. Also a couple of solds back on as "for sale" and some sold signs replaced by "to let", so presumably the signs of some soon-to-be-disapointed BTLers. It is a long wait for any real change though...

    S.

  7. Exactly the type of company to go under in tough times.....

    http://www.sky.com/skynews/article/0,,30400-13398244,00.html

    BRINK OF ADMINISTRATION

    Gift company Red Letter Days which sells vouchers for activities is on the brink of administration.

    A number of suppliers have stopped accepting the company's vouchers for activities which range from motor racing to bungee jumping.

    The firm has called in restructuring specialists and has called an emergency meeting to reassure staff.

    However, the Sunday Times says administration is the most likely option.

    Red Letter Days was founded 16 years ago by entrepreneur and television personality Rachel Elnaugh.

    Ms Elnaugh shot to fame on BBC show Dragon's Den, appearing on a panel giving out advice to budding businessmen and women.

    Both Thruxton Motorsport Centre and Everyman Motor Racing Activities have said they can no longer accept vouchers for driving days.

    They claim Red Letter Days owes them "substantial" sums.

    Telecoms entrepreneur Peter Jones is said to be discussing a possible takeover and was quoted as saying the firm was "in a bad way" but not bust.

    The company offers vouchers for more than 1,000 activities, such as piloting a jet fighter, climbing Mount Everest and learning to cook with a celebrity chef.

    "called in restructuring experts"? I thought she was supposed to be the business genius...

  8. It's not that simple.  Don't believe the bullsh*t you are fed by mainstream media cheerleaders.

    http://www.wpherald.com/storyview.php?Stor...27-044817-9984r

    I did caveat with "or not because of this". There are many destabilising things happening there of which I am aware-and from more direct sources than the media-but they have been happening for a while and relate to the ruling family as a whole and persist regardless of whether or not Fahd is alive.

    S.

  9. I believe that most people have a social conscience – even most estate agents ( with the possible exception of Kirsty on the BBC TV show ).  They are, however, sales people and it is their pitiful job to hype up the property market.  Show some mercy for them – imagine how it must feel to tell such hideous lies that will ruin peoples lives for ever, if they do actually have a conscience.  They are prostituting their souls to the highest bidder.

    But, if you build a little rapport with people ( even estate agents ) then they find it hard to lie.  I tried this tactic last year when I decided to sell my house and bail out of this ridiculously over inflated property market.  The results were promising – 7 out 10 estate agents, who I asked, agreed with me that there would a major correction in the coming years;  some of these agents worked for very large, national agencies.  Infact many of them told me that they were expecting to be obsolete in the coming years, but they were positive about it because they've made so much money over the past 3 to 5 years – they made their hay while the sun shined on them.

    So, if you are buying or selling a house, why not give it a try.  Try to be nice and friendly to your estate agents ( I know it's difficult ) and see what they, the custodians of the property boom, really think.

    Sorry but in my experience with estate agents over 20 years, they are almost always lying, manipulative scum who would not merit pissing on if they were on fire...

  10. Our Anglo-Saxon medicine

    Scary stuff from AK today.

    Apparently the rest of Europe would really benefit from having a house price boom.

    Gulp.

    I actually think a lot of people will believe him, sadly.

    Access to credit yes, 1.1 trillion of personal debt thoroughly disturbing.

    Much of Western Europe obviously has a boom/bubble already whilst Eastern Europe is getting there, much of it due to British MEWers exporting our bad habits abroad. The Irish are just as bad.

  11. Actually it is  our "myopic European neighbors" as you call them who (per head) are exporting more to and doing more business with Asia than the "Dynamic heterogenous UK".

    Their (the European) populations have also had the wit to stand up to their politicians and say "No to Turkey in the EU and lets have less cheap immigrant or illegal labour, thanks very much". We though say little as our government allows hundreds of thousands of illegals or asylum seekers into our midst with little or no control. For instance why, I wonder, have the tens of thousands of Iraqi Kurds seeking asylum in the UK not been returned? Surely we 'dynamically' freed them from the dangers of Saddam that they supposedly 'fled' from?

    And I have yet to be convinced that allowing into the UK huge numbers of uneducated Somalians, Ethiopians and Bangladashis, amongst many others, advances our society in anyway what so ever!

    Some of the Eritreans and Somalis clearly have advanced skills in bombmaking (or maybe not so advanced thankfully on the second occasion...)

  12. Im not naturally pessimitic or optomistic, im one of them realistic people who doesnt get overly excited when things look good conversly i dont get depressed when things are bad.

    Im quite boring really, i lack any strong emotion.

    Ive no intention on spending my above average for area salary on a bedsit. Ive devised a financial master plan that actually scares me by its genius, came up with it after licking a frog out in my stagnant pond. The bush broke it down for me but made me promise not to tell anyone its secrets.

    bahh can ya tell ive just finished 12 hours of nightshift :lol:

    "Licking a frog out"? Is that legal or possible never mind pleasurable?

  13. I think it may instructive for all to reflect on these words:

    "Greatest Love Of All"

    I believe the children are our are future

    Teach them well and let them lead the way

    Show them all the beauty they possess inside

    Give them a sense of pride to make it easier

    Let the children's laughter remind us how we used to be

    Everybody searching for a hero

    People need someone to look up to

    I never found anyone to fulfill my needs

    A lonely place to be

    So I learned to depend on me

    [Chorus:]

    I decided long ago, never to walk in anyone's shadows

    If I fail, if I succeed

    At least I live as I believe

    No matter what they take from me

    They can't take away my dignity

    Because the greatest love of all

    Is happening to me

    I found the greatest love of all

    Inside of me

    The greatest love of all

    Is easy to achieve

    Learning to love yourself

    It is the greatest love of all

    I believe the children are our future

    Teach them well and let them lead the way

    Show them all the beauty they possess inside

    Give them a sense of pride to make it easier

    Let the children's laughter remind us how we used to be

    [Chorus]

    And if by chance, that special place

    That you've been dreaming of

    Leads you to a lonely place

    Find your strength in love

    Excuse me whilst I vomit-I am assuming that was tongue in cheek?

    :blink:

  14. My response to that post was much the same as yours but then I thought, hey, as stories posted here show, some otherwise intelligent people also don't seem to understand basic economic principles and the duplicity of this Chancellor.

    Emigration, as I've posted before, we are planning this, however useless Economic Ministers seem to be particularly in vogue all over the world currently.

    Gotta keep this "Stability" going at all costs looks like the universal mantra.

    True-I should probably be more tolerant. I have managed to piss off most of my friends at some point (most recently Saturday when seeing for the first time a newly purchased 3 bed flat bought for £1.2m :o ) by ranting about what nowadays seems to me like basic economics and a blindingly obvious bubble.

  15. There has been talk on here about the effects of the HPI on the ability of young couples to have a family and be able to live within their means. I am a single bloke who cant even afford to live on his own nevermind look after a family, how do people do it? Also what is the deal with these tax credits thingies, I know a girlie, who does work! and she takes home over 2000 a month! that is nearly double what i take home and I am a supposed "professional" (admittedly one of her kids is disabled and gets DLA) but her wage of c. 450 a month miraculously is quadrupled.

    Is this how the government is planning to keep the birth rate up? By bribing people to procreate.

    Don't have kids or expect any but I feel like I am paying for other people's milk tics and ankle biters through my taxes. Gordon is bribing "hard working families" with my money, the thieving scum.

    S.

  16. Well I saw Grant narrating a documentary the other day, and his mother seems to have a checked past in low budget soft porn British comedies so I am beginning to have my doubts about the authenticity of this particular reality show.

    I note with specific interest why no one on the square actually watches EastEnders isn't that odd?

    Luckily Grant's mum doesn't get her tits out as much as she used to. Can I say tits on here? :o

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