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House Price Crash Forum


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Everything posted by adarmo

  1. I'm on the finance and ops side of tech and we're struggling to recruit in both areas and are having people leave to go to better paid roles. Even to get sales people with an 80k basic! Is the genie out of the bottle? Is the toothpaste out of the tube?
  2. Your first point is literally reinforcing mine. Not sure what point you're trying to make in the second? You're confusing a totally different illness and one we actually have a known jab for. What are the side effects of kids having covid? Comparable with measles (for which there's a fricking vaccine lol) or Chicken pox which is annoying for about a week.
  3. Many people got emotional about NHS workers getting a 1% raise for saving the country but the reality is the country locked down to save the NHS. I agree with the theory, if with people catch covid then you'll build a natural herd immunity but the problem is many would require medical attention and swamp the NHS. Tbh, i think there was a behind the scenes strategy of this by keeping schools open. Chicken pox is better if you catch it young and you're generally covered for life. Early to say but Covid possibly the same.
  4. I did wonder why the banks didn't do this back in the naughties.. cut out the middle man so to speak.
  5. You're right! Time flies. Now it's 0.6% soon too be 0.3%. Flip side is that i only need the cash to get the house done which should yield double the cost of the works. After that it's sell the place and find another project house that could get me to be mortgage free. If not it'll be third time lucky.
  6. I think I'm getting 1.25% on a santander 123 account. Lots of cashback on fatuous things too. You get the rate on balances between 2k and 20k. You're only allowed one about per person but before i bought a house i had my deposit saved in one in my name, her name, AND joint account. Back then though you got 3% and i had 54k eligible for interest... that's what the 3 used to stand for. After the GFC i was saving for a deposit (and thinking houses would half in price). One of the more stupid investments i made was in a company that was in trouble but i expected the bank to take a haircut on the debt. They pre-packed it instead and i lost a few grand. That just made me more angry as i blamed the gfc and govt for me taking that risk. As you can tell I'm still not quite over it more than a decade later.
  7. Sounds like a good way of getting people back out there. My sister lives in the USA. She and her husband each received a $1200 stimulus cheque early on in the pandemic. I Think she received another lower value one more recently. They're saving for a house so.....
  8. Unreal isn't it? Real terms getting paid to have debt.
  9. Depends on the interst rate but i saw some smashing fixes when i was looking yesterday. 7 years for 1.49% with only 25%deposit. Crazy.
  10. I think the original point was does a bond or debt have intrinsic value? Your next question is a bigger question but there are strong arguments against a fixed money supply, at least 7 billion reasons in fact. A fixed money supply creates a deflationary spiral. Great if you happen to have a huge stash of cash when this starts (original bitcoin miners lets say) but terrible for everyone else. There are limits to a flexible money supply expansion though. People would start to use other items as a medium of exchange, or even other currencies that are more stable in value. On this point it explains why Zimbabwae would use us dollars ans not Bitcoin. Bitcoin isn't a currency.
  11. Errr, it has intrinsic value. It's a record of debt owed for goods or services delivered. Whereas bitcoin is backed by nothing delivered. Swapping fiat currency for a prend currency doesn't make it a currency. Someone, somewhere has made an absolute fortune out of the scheme.
  12. So you'd offer for the building plot less 20k for demolition and site clearance? If the boilers screwed its 2k. If the CH system is pressurised it is sound and not leaking. Rest of system is an easy fix but hold back another 2k. Biggest concern would be drains not working so turn up with a few massive water bottles and pour them down the bogs and sinks. Digging up drains to play 'find the blockage' is expensive, messy and time consuming. I'm surprised they've not had any heating on though with the cold snap. If pipes freeze you're looking at bigger repair bills.
  13. I'm good with killing sdlt for single home owners (not multiple) and making up the difference with cgt. Never understood why unearned revenue is taxed at a higher rate. To the argument it will detract entrepreneurs i don't buy it. Most don't do it for the money. But, can still give them entrepreneur relief if we think it would stop 'wealth creation'.
  14. It's a scam. Literally a pyramid scheme mind trick.
  15. Because there's no hidden agenda and houses are not unaffordable to most people since most people own a house. I've so many friends who thought they had to move to London because its so exciting and that's where the action is. My other friends all bought houses at a fairly normal age because they hadn't moved to a global city to compete with the world's richest. People are buying houses later in life than they used to and there's a lot of reasons for that. Partly You now need two incomes (the price of equality but household income to house prices ratio is much more stable over time than some here would like to admit). Partly more go to uni (needlessly) and go travelling. All takes time and all costs money. High house prices are not the cost of civilisation, taxation is, though I'd bet a house in a stable democracy is worth much more than one in a failed state. Back to the OP, how will they repay the debt? Allow covid to shuffle the golden oldies off to save on their longer-term pension and health liabilities?
  16. Interesting summary there. I do remember though that when you told everyone you'd made 20k on oil shares what actually happened was oil stocks fell. I thought you must have done it some other way but now you quote oil stocks as spat goggle as evidence you made some money. Where's the real evidence? Then you use inflation adjusted house prices as a comparison against nominal returns in other assets. That level of analysis isn't comparable. Finally, if you'd bought a house you'd also be rent free until you die. Pretending you made enough money to rent until you die makers either some incredible assumptions about rent increases and your life expectancy or you made soooooo much money it'll clearly do you forever. Meanwhile, in the real world, if you'd bought a house in mid 2017 for a good price (say an elderly couple needing to move into care in a hurry) and places a 15% deposit of 65k down you'd Hagee not only saved about 15k in rent a year, you'd also be looking at a 15% increase in value. So doubling up on the deposit AND saving about 52k so far in rent. Take off 11k sdlt about about 6k spent on some improvements and DIY It still doesn't look too bad.
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