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Gideon Gono

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Everything posted by Gideon Gono

  1. You think they "Let Slip" that this is what they were trying to do - It was obvious from day 1 wasnt it?
  2. I was there for 3 years before getting shipped to NY. HK is awesome. 16% tax and the 20hkd cab fares were the best thing ever. Sai Kung is a tropical escape 30 mins away in a cab. Gutted I had to leave.
  3. Yeah I see it - people on 25k expecting to buy 4 bed detached houses etc etc. Whats your point?
  4. 1) ditto - 2) Thats why house prices are rising because there is no good stock on the market. 3) I beg to differ. If the landlord cant make his payments the tenant will face drama too. 4) The point is the financially stressed will be flushed out. Leaving the one who can handle a couple of months void. At some point LLs will have to raise rent s to cover costs. 5) see above 6) Yes it is - house prices dropped this % in the last crash. Maybe there is 5% - 7% to go but its not 30 - 40% more. 7) Not a jib at you inparticular but there are plenty of dreamers (house prices will drop 90% etc Tin Foil Hatters) that think the end of the world is near. 8) Good luck to you
  5. 30k left to pay on the mortgage @ .54 above BOE rate. Flat making 600 quid a month after tax. Yeah, Im up to my neck in it.
  6. 25 quid a week - isnt much at all....... 6450 / 60 (12months a year x 5) = 107.5 / 4.3 (weeks in a month) = 25. Move on please, no news here.
  7. Clever - and what was the market interest rate doing last year?
  8. There is a difference between confidence and recklessness. Would I lend money to someone who had a good career and was working their way through life had a good credit record and was stable? Yes, Id be confident with that investment. Now - would I lend 500k to someone without a job, a NINJA if you know the expression on the premise his asset will always rise in value no matter what? No - that would be reckless wouldn't it.
  9. 1) Yes - 2) Don't you think other landlords will be doing the same as their costs have gone up too? 3) See point 2, you're all in the same boat 4) Yes, the weak will get flushed out - most of its done already. If you cant pay a mortgage on these interest rates you never will 5) See point 4 - 6) They have already dropped 25-30%. If that's not one hell of a discount I don't know what is. 7) or stick their finger in their ears and deny what's going on around them 8) If you cant buy a house after a 25-30% correction I suggest you get a new career.
  10. I disagree - The economy is all about confidence and sentiment. If these 2 things are fine people are out spending again (hopefully within their means) so we get to a level of sustainable growth. If we are all doom gloom and fear we don't spend. Then the unemployment cycle gets worse.
  11. And whats your landlord going to do to your rent once his costs start rising? Renting is a mugs game.
  12. Debt is normal. Did your parent have a mortgage? Did your grand parents? Did Britain after 2 world wars?
  13. I was going to ask this the other day. Im noticing it too. Yes, same sector. Lots of mail regarding IT jobs in London.
  14. Do we have 50% unemployment? Are we living on the streets eating dogs? No. This is a recession not a depression. Banks are paying back capital given to them from Govts, they are starting to lend again, job loses are slowing. This is the last stage of a recession.
  15. Have you ever heard of squating? now tell me who has the rights - the guy who owns the property or someone who has refused to pay his rent.
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