loginandtonic
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Posts posted by loginandtonic
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dont fight it, you know you want him
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zirp and 40% tax? We are already there aren't we? The wage increases will follow.
exactly
how many times have i told people on here that they are already facing a wealth tax thx to the near zirp. lost count. theis govt is good at the stealth stuff then, quite obviously, sigh
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that treasury minister is hot stuff, enough to turn even the straightest man into a gay, 100 % guaranteed.
i know i would.
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my essex res prop watch list:
about 1 in 10 or so houses typically £4K drops every few weeks but a significant percentage then sell, however no removals vans seen, so...
(only about 1 in 100 properties shows a price rise on my list, unsold of course)
shops on my watch list in OTHER southern counties - 2/3rds sold in a few weeks
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of course the so-called low unemployment the uk has had was probably from expansion in the public sector with a lot of invented jobs that werent strictly necessary, i know for an absolute fact in the 90s my old ps job got filled by 4 people - 3 ft + 1 pt. i voiced disgust about it at the time.
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...as late as August 2007 (one month before Northern Rock crumbled), a couple of respected pundits wrote on the BBC's website: "Most debt is a sign not of penury, nor impending crash, but prodigiously increasing wealth."
Debt is Wealth
Profligacy is Prudence
Wrong is (the) Right (thing to do)
the culture of constant expansion + so-called rapid growth fuelled by more debt has long been a sickness. you'll find lots of small businesses out there who claim to have been successful not because they turned a profit or even were on track to by year 3 or 4 or 5, but because a banker had lent them money to "further grow" the business. in other words spin a bigger web to catch more flies but the web itself remains an insolvent project depending heavily on fly catching saturation at some future point which never comes. this is whats known as being a busy fool
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its absolutely dire,
they are putting a brave face on the ugliest of financial situations, imo str people are again buying homes because they fear total meltdown not because they think they're good value.
what a mess, how anyone can be bullish about property unless they expect to cash in (in whatever terms 'cash' applies) on the above panic is truly amazing
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http://uk.biz.yahoo.com/11122009/389/top-10-property-mistakes.html
includes the pearls of wisdom "don't pay too much" and "don't believe the agent"
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i assume frizzers that you are mr frisby, i enjoyed the podcast last time
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i'm not sure anything they do can deliver "recovereh". the problem is far too big, they can only buy a little postponement, i think the real problems are not avoidable + any talk of recovery this side of 2012-2015 is probably wishful thinking. a patched up fascade of recovery maybe, the real deal no way
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should really all vote labour so that they reap what they sew + are hounded out of office by 2011, but unfortunately the tories will get the blame after coming to office + fixing this mess
judging by the going for broke policies seen in the pbr, labour know they have no chance + dont care who has to pick up the pieces post election day
bruiser ali c has been brought in to try to save them, but i dont think a manifesto of soft porn will cut much ice. "gordon rubbed ed's nipplies, yielding to his tender socialist lips + gave in to wave after wave of fiscal stimulae"
looks like some major turd is on the way in Q2 + brown has decided slim chance of winning so best out asap
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Does Oxford Street normally get these numbers?
A nice winter ramping headline to make everyone feel everything is OK, debt is wealth.
somone i bumped into who works in retail in london + s.e. said the recession was nonsense + that people had lots of money to spend because they were saving bucketloads on their monthly mortgages. however, credit card interest is up but few realise that. how much she knows on this i dont know but she seemed to know what she was on about.
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all the elements are in place for a morons' housing rally:-
property at prices which seem more out of touch with common sense sanity than ever before,
low interest rates that can only go up,
a government that has in our name borrowed £1.5 trillion from the future which we all have to pay for,
firms holding off redundancies as long as they can as they keep blind faith,
personal individual indebtedness/insolvency among worst in the world,
huge tax hikes on the way,
food price inflation kicking off big time (already started in the US),
fuel prices soaring,
job security wobbling,
consumer credit card debt interest rising
if that lot cant push house prices to new peaks with moron buyers, nothing can
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agents? they wont be happy until their estate agency offices are commandeered by the army as local aid distribution centres + soup kitchens, perhaps the uk didnt come close enough to total bankruptcy this most recent occasion + they want to finish the job this time once + for all
anything to get rich quick rather than plan for the future with affordable, sustainable values
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Shops are like pubs though. Constant stream of "sucker" money. I watch a little parade of shops near me. Constant stream of tenants with non viable, and ill thought out shop ventures.
Did you see the programme on pubs this week? The over indebted, highly leveraged pubco's are literally draining the life savings of all their landlords. Out of takings of £1000 per night the landlord gets £15. As one landlord pointed out, if you have savings, redundancy, an inheritance don't put it into a tied pub. It will be drained away from you.
i didnt see that programee no, but there are loads of pubs available + personally i dont think i have the expertise to turn a profit there so wouldnt touch one. theres so much to think about.
someone i vaguely know bought a nice coffee shop, despite his contacts in business + years of experience in a related field, he's had to put it up for sale. he's been able to keep it running at a small loss for a few years as he's minted + lives in a prestige detached exec home with a park size garden so probably mewed it after settling with his wife for their divorce
I think it is pretty well established that the stabilisation of the housing market has happened because the low interest rates available to savers has encouraged them to buy property.
I sense this is beginning to run out now - transaction levels seem low again around here. There is very little coming on the market - which is bad news for prices.
But commercial property is another matter. High streets near me have plenty of empty shops and offices.
Perhaps they'll drop interest rates in the new year to get the economy moving again.
any of those savers taking on a freehold shop or whatever, be aware of considerable insurance, repairs, and worst of all obscenely high business rates which its hard to get any relief on. we're talking £3K for a tiny place to £10K or £20K+ for relatively modest floorspace.
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good grief balls really does have a website
those who desperately seek power should never be given it
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how about checking rightmove and see if those same streets have For Sales in them....where are the signs?
maybe EAs are removing them to encourage the message that there is a shortage.
My RM search EXCLUDES SSTCs, there were 209 last week, and as I say, barely a for sale board in sight.
you might be right, nothing would surprise me any more, they think they can do what they want because the govt has made property prices such a priority in the uk that agents probably think they have the blessing of HM Govt to pull whatever little stunts are necessary for queen + country.... i'm not sure i am joking actually. how long before estate agents are sworn to uphold property prices before a magistrate
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209 for sale rightmove last week....cant find hardly ANY For Sale boards....all I see are: no boards on ID'd properties, or SSTC. just a sprinkling of boards for SALE.
Can't think why people are buying shops. We are over retailed in the country. Too many cafe's restaurants and takeways too. This is being corrected.
i was walking down a yob street the other day, solds everywhere. either they went cheap or the madness continues.
was in leigh yesterday, every street i had to go into, sold sold sold.
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those are the actions of a traitor....if only he was English.
as i have said before + all joking aside, in 25 to 50 years time some of this govt's actions may be viewed by official historians as seriously destructive or even treasonous, that is if there still is a UK and its not just become an EU airport + shopping mall
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You are not the only one, 88's.
I left 3 years ago, and return from time-to-time.
Many realities have settled in (on the UK) since I left, and quite a few need to, and will, before long
But I can also tell you, that I haven found any place that is perfect yet. We all have challenges to face
but you're canadian or american anyway !
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Is it really now 37? That is ridiculous and unsustainable. If the population as a whole started putting off having kids on that basis the economy would eventually collapse. No one left for the boomers or their heirs to sell to. No wonder Brown wants to import lots of immigrants to fill the gaps.
thats what the article says: Mr Healey said. The gap has widened in the recession, during which the average age of first-time buyers getting parental assistance has stayed the same but the average age of a first-time buyer without parental help has risen from 33 to 37
this is a very grim alarm bell
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Seems like a reasonable analysis. The problem may only get worse until we get wage inflation without corresponding rises in house prices. The economy needs the 20-35 year olds to be earning an average of say £60k and house prices to remain relatively flat. If all other prices also double, eg fuel, food and Council tax, there are then the means to drive the boomers from their homes. Whilst I am generally anti tax, I do quite like to see Council Tax rise as it hits the boomers more disproportionately.
The only other alternative is a wealth tax. A wealth tax does seem like a fair idea. Why should a young couple with a joint income of say £60k, not be able to buy a £200k with ease. The answer is because so much of their income goes in tax, meanwhile a boomer can sit in such a house on a pension and pay very little tax.
Before any boomers pile in and criticise, I am not arguing the above from a self interested perspective. I actually own a very nice house, but I consider myself to be very lucky amongst my generation as between myself and my wife we gross about 6 times the national average salary, but it seems that is the sort of money you need to buy a decent house which does seem plainly wrong.
i think you'll find anyone 'wealthy' as you call it has already paid this tax for nearly a year, as their interest rates on deposit have been more than halved or worse. this has subsidised people who wanted to buy property. the property you recently bought is also UP in value thanks to that wealth tax subsidising higher prices. this is a destructive cycle. the only answer is to stop it, not encourage it.
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average age of the first time buyer now gone to 37 from 33 ?????!!!!
33 was old enough - that alone tells us how ridiculously expensive UK property is.
shocked
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Who's buyiing commercial property? I thought the tumbleweed was still blocking the High St in many towns. Unless one thinks that we're going to see any private sector / retail growth over the next few years, it's got to be the worst investment around.
Houses: well obviously people are afraid they might feel they've missed out. It takes more than a year of falling prices for the scars of 2001-2007 to disappear from aspirational buyers. I really don't think much of the population has a grasp of inflation/ dash for assets.
no idea, the 'cheap' freehold shops on secondary parades seem to be selling in southern counties, pretty rapidly if my random sample is anything to go by
Sovereign Default And Strs
in House prices and the economy
Posted
before these cuts, bonds were paying up to 8% in some institutions (apart from landslidingbanksinki in iceland)