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House Price Crash Forum


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  1. I live in an unemployment blackspot in east yorkshire , a former industrial town of about 20,000 people. There used to be loads of empty houses but since the arrival of the eastern europeans i'd guess that there isn't a single empty house in the whole town. There is only minimum wage jobs in the town but people still keep coming.
  2. In the south east maybe. Where i live a bloke earning £300 per week would be able to buy a 3 bedroom house. I wish they'd draw a line from Norwich to Bournemouth and everything south of that line could have it's own set of housing stats and then the people north of the line would have stats that actually mean something.
  3. I bought my house in 1992 on a shared ownership deal , it was the only way i could afford it with double digit interest rates. I bought the other 25% in 1996 when the house was worth less. It worked out very well for me.
  4. Nuke Germany. Build cars over here. Recession over.
  5. He also managed to get the FTSE down to 3500 and allow people to make huge amounts of money riding it back up. The bloke is a misunderstood genius. I just wish he would come back and allow it all to happen again.
  6. One of my grandads worked down the pit. The other was a shipping clerk. My dad worked in a retail bank , my mum worked as a school teacher. Using the career of your parents as a stick to beat you with is a bit low don't you think?
  7. Stick this nonsense of a thread in the off topic forum , where it belongs. The smug and pompous attitude of Tired Of Waiting rears its ugly head once more. It's an embarrassment to a very good forum.
  8. I bought 5000 shares in ABG at 504p just this week. Short term though for me , as soon as they near 600p i'm out again.
  9. I've heard both Verity and Clarke argue that high house prices are bad for the economy and a correction is needed to enable the first time buyers to be able to participate in the market.
  10. Todays Independent The online grocer Ocado took a step towards silencing its City critics yesterday, posting its first ever quarterly profit, a result that sent its shares to an all-time high. It also touted a sharp 52 per cent reduction in its pre-tax losses to £12.2m for the year to 28 November, including £3.5m of costs from its initial public offering (IPO) last summer. However, the more eye-catching figure was Ocado's maiden pre-tax profit of £300,000 in the fourth quarter. Andrew Bracey, the finance director at Ocado, said: "Achieving profitability in Q4 is around nine months ahead of what the market was expecting generally. It is a landmark achievement and we don't expect to go back. We will go forward." Shares in Ocado rose by a massive 29.7p, or 13.6 per cent, to 247.7p yesterday – the highest since it floated at 180p in July. The IPO was highly controversial, largely because Ocado had never made a full-year pre-tax profit. Last year, the online grocer posted a 29 per cent rise in annual sales to £551.1m, boosted by a 31 spent spike in weekly orders to 92,916 at an average size of £114.06. Ocado also boasted that its strong sales momentum had continued, with its sales up by 25 per cent since the start of this financial year. Tim Steiner, the chief executive of Ocado, said: "We don't expect to see a decrease in sales as a result of the tough [government] austerity measures in this country." Ocado delivered a 138 per cent uplift in earnings before interest, tax, depreciation and amortisation to £22m for the year to the end of November. This was helped by a rise in gross margins of 58 basis points. Mr Steiner declined to comment on speculation around the recent rise in Ocado's share price after it had sunk to an all-time low of 123.5p on 14 October. He said: "There are lots of bankers who get paid to speculate on these kind of things and I would ask you to ask them." The spike in the share price was fuelled, in part, by speculation of a potential bid by a rival grocer, possibly Morrisons, Marks & Spencer or even the online retailer Amazon – all of which have been swiftly dismissed by market sources – and short-sellers closing their positions. The online grocer – which was founded by three former investment bankers: Mr Steiner, Jason Gissing and Jonathan Faiman in 2000 – operates from a hi-tech distribution centre in Hatfield, Hertfordshire. But it plans to go live with delivery services from a second customer fulfilment centre in Warwickshire around the end of 2012. Mike Tattersall, an analyst at UBS, said the result showed Ocado was "delivering on IPO promises". However, Philip Dorgan, an analyst at Altium Securities, which has a sell recommendation on the grocer, said: "In terms of online food retail, it is a very difficult model to make money out of – especially when you are competing against Tesco, Asda and Sainsbury's."
  11. I don't think that QE has had any effect on the stock markets. It has been all earnings driven , from what looked like the end of the financial world in march 2009 was proved not to be the case as companies tightened their belts and improved their margins and crucially paid down debt. I'd much rather own a share in a company now than 3 years ago.
  12. Where i live they have become very resilient. A 4 bed detached that would go for 200k 3 years ago would now cost 150k. We had our crash here in east yorkshire and now what little comes to market actually sells , not that much comes to the market. We have hit a stubborn spot and until we see some pretty hefty drops in the indexes i.e. well over 1% for 4/5 consecutive months then i don't see much downward pressure on prices in these parts.
  13. What a house cost last june is totally irrelevant , it's what one will cost next june that matters , with measly falls like the ones we have just seen then it looks like 160k will not be breached. My time frame is 3 years and my pot grows by about 1500 per month , it's looking like all the work is going to have come from my end as prices don't look as though they want to try and meet me in the middle.
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