marzipan
-
Posts
249 -
Joined
-
Last visited
Content Type
Profiles
Forums
Events
Posts posted by marzipan
-
-
I really don’t know anyone who’s irresponsible in their spending habits; I think the media like to create the idea that there are a significant number of people who live beyond their means as the media love that simplified stereotyping approach.
I’ve worked in ‘middle class’ environments since Uni and the level of ‘fashionable’ attire is minimal and the car parks are full of old cars.
Banks have been around a long time and it’s a big headline when one goes bust, unlike engineering where firms go bust all the time without comment, I doubt they have lent out more than they think is wise otherwise there would be a serious financial crises and they would never let that happen
that's because people don't tend to discuss their finances, and also that most people don't think their spending is a problem. even when they are in trouble they go into denial, ever seen spendaholics?
its not a case of designer clothes and fast cars, its that little 'treat' a bit too often, the expensive holidays and weekends away that gradually rack up the debts.
-
Anyone have a rough idea how much it would be if he sells all his flats and property?
£0
-
Camping out and tents are good because it is a very visual illustration of the issue. Also it anchors you to a site/area
Richmond Park is a good choice as it is big enough that you aren't going to really piss people off and at the same time it is in the heart of one of the most expensive areas, SW London
what about wimbledon tennis? plenty of bored media sitting around waiting for some action
-
current ftse p/e ratio is 12.8, historically very low.
therefore any drop would be a great buying opportunity. good thing i'm not wasting money on a mortgage!
http://www.ftse.com/objects/csv_to_table.j...amp;p_encoded=1
-
currently 44% rise, 43% fall.
about half way down the page, in 'Vote Now' box
oh yes and there's some article about impending rate rise
-
Because you are a FTB and you cant afford anything
this seems to be the attitude of a lot of people, mainly homeowners - 'aaw, look at the poor renter, can't afford a home of his own'
i know a lot of would be FTBers who aren't remotely interested in buying at the moment. They can all easily afford mortgage payments, in fact most of my more senior and higher paid colleagues rent, but its the more junior (and lower paid) that have bought in the last couple of years.
-
But I have no understanding why. Oh I forgot, location, location, location.
that used to mean *good* location
now it just means any bl00dy location
-
http://news.sky.com/skynews/xml/article/0,...6475040,00.html
Secondly, a crash needs a trigger and this time there is no obvious one. In the 16 months to October 1989, interest rates went up a staggering 5% to 15%, and they stayed that high for a year. That's an average of a one third-point rise every month for the whole period!This time it's hard to imagine rocketing interest rates. No one can say that we'll always have interest rates under control, because there are too many variables, both domestic and global, that might affect us. However, they certainly seem to be fairly stable for the time being. So there is no trigger.
-
"Highly indebted investors holding sub-prime stock with weak rental prospects can expect a bumpier landing than those holding prime buildings let on long leases which we think are on a gentle glide path down to yield equilibrium," the broker said.
brokers don't half talk s**t
-
There's confusion in the papers today:
Daily Express: "SPRING SPARKS HOUSING BOOM"
Daily Telegraph: "Property market 'heading for fall in 2008'"
look at the express on sky news, then click next to see the DT front page
http://news.sky.com/skynews/picture_galler...58621-7,00.html
-
House prices did not rise in lots of Surrey like they did elsewhere in the country in the early 'noughties' (they have risen a lot since), average wages are higher than most of the country, it's next door to the City and has lots of good transport links, there's a shortage of supply of family homes (my local agent has about 3 'normal priced' family homes for sale - I just can't see Surrey crumbling before say, Bolton or any of the other towns that have gone up by much larger percentages with lower wages ..... it's gone up less in percentage terms than elsewhere why would it fall more, other than because you want it to ?
Surrey is hardly 'next door' to the City, a good 1.5 hour journey via tube and train from the other side of London, way out in the sticks
-
a chav scumbag that i know ...drug dealing and receiving stolen goods
... i knocked someone out unconscious only a few weeks ago that goaded me all night
scum like you should be locked up - there you go, that would solve your property angst, no mortgage, no rent, free food.
I can't believe people on this forum are praising you for violence and hanging around with criminals.
-
Just spoken to Halifax on their income requirements and a Pass A still needs no income proof at all - crazy
But a Pass B or C requires 3 years accounts for SE not the 1 years that it used to be. The person I spoke to confirmed that this was a recent change of policy.
what are you talking about?
-
Can I just softly add my opinion on the current P/E of the FTSE? I think that a value of 15 is just fair, the historical averge has been about 14. I personally think that a low P/E is around 7 or 8 which means that the FTSE has to halve before I would consider it a "bargain". At the tail end of recessions, the P/E of the stock market goes down as low as 2 or 3
Best,
L
what is your source for this info?
I have not been able to find an accurate source for the long term average pe ratio for ftse 100. Most articles I found on the net only go back as far as the late 80s, which was the last time the pe was below 12. That was twenty years ago, not really very 'long term' in my opinion, but that does include a few market boom and busts, hpc and recession.
-
just because the stock market has had a good run for the past four years doesn't mean it is overvalued.
http://www.ftse.com/objects/csv_to_table.j...amp;p_encoded=1
the pe of ftse 100 is around 15, very low. at dotcom height it was 24. suggest that now is a good time to invest. even if a house price crash causes a downturn in the economy, the low pe ratio gives a safety net to allow for a temporary drop in earnings
the house price to earnings ratio however is very high, indicating that it may indeed be overvalued.
thats all you need to know. once you know that, then you will know
-
"2006 saw further property yield reductions, now twinned with a modest rise in bond yields to underline our own view that the property investment case can no longer rely on further positive yield shift," said chief executive Stephen Hester
http://uk.biz.yahoo.com/13022007/214/updat...perty-boom.html
-
Wimbledon is a highly sought after area of London
true, I live in wimbledon and it's an ok area (for london), but the area where that house is is a craphole.
and Haydons road is on the crappy thameslink hourly service to blackfriars not the three minutely service to waterloo + district line that you get from the main line station
-
so let me get this straight - you asked a property fund manager if property was a good investment?!
that's like asking a mechanic if your car needs a service! what do you expect him to say?
-
Property: Exploding the affordability myth
... young homebuyers are spending £9,000 a year on mortgage repayments, or £750 a month...
well if you take £750 a month then yes, it does look affordable, but where did that figure come from??
that would just about get you a studio flat on an interest only mortgage in london. probably in some ar5e end area too if you're lucky
what about the proportion of income spent on other items - did first time buyers all have mobile phones, pc's, internet connections, cable/sky tv, two cars, high utility bills, high taxes, high petrol prices etc etc in 1990??
what about the mortgage tax relief that was available then? that would have reduced the monthly cost of the mortgage.
-
I'd sooner rely on my own ability to buy a decent flat/house in an area or location that'll remain attractive to renters and won't be that hard to sell (timing permitting) come the onset of retirement than entrust it to a shyster in a suit . . .
and THAT is the whole problem and the reason why this bubble keeps inflating
you, and all the naive BTLers think they have a natural talent in seeking out quality property. and the more prices keep rising, the more it validates this claim, when in reality it is nothing to do with skills, just luck.
the same thing happened in the dot com boom, everyone suddenly becomes an expert stock picker, until of course it all comes crashing down and they lose everything. But with property its far more risky, at least with shares you don't have to wait months to sell and have mortgage payments to meet in the meantime!
-
Demographics brings new breed of landlord
key points for me:
1. Almost half BTL landlords are under 40 - in other words at the time of the last crash, half BTL landlords would have been under 22, most probably still in school, therefore too young to know the risks involved.
2. Only 8 percent had bought for the regular rental income - these will be the only ones who are prepared to weather a prolonged fall in prices. 92% are investing for capital growth. therefore once prices start to fall the greed will turn to fear of losing what gains have been made, and 92% of BTL property will flood the market.
-
anyone already got an ING account ?
if so, they will give you 6% aer (5.91% gross) fixed for 6 months.
so why not lock away that deposit and get a decent return for 6 months, after all, we're in it for the long term
sounds to me like they know which way rates are heading....
look in the terms and conditions, if you withdraw before the 6months is up, you forfeit 3 months interest. The general consensus is that interest rates will rise to 5.5, maybe 5.75 by the end of the year. If this happens in the next 6 months, you will be better of with icesave or ICICI
also it shows a change of tactic for ING. They introduced the savings account with as the highest interest account around, no frills, no tricks like all th other evil banks, that didn't last long. Its ok if you like switching banks a lot, but they count on the fact that most people can't be bothered
http://business.timesonline.co.uk/article/...2483413,00.html
-
Took a day off today for a delivery, and the TV has been nothing but property porn
but have you noticed how all the property porn programmes have disappeared from prime time evening slots - its just the daytime ones left now - the majority of viewers will be unemployed, elderly maybe but in any case in no position to be speculating in property!
-
http://www.ft.com/cms/s/fc21de32-b174-11db...00779e2340.html
FSA warns on diversified portfolios
An increasing correlation in price movements between different assets is making it more difficult to diversify investment risk and could result in wide-ranging losses if and when economic conditions sour, the City watchdog has warned.
The FSA are, of course, just doing their job and reminding investors that there is always an element of risk in any type of investment. But is that a sign that they feel the City is ignoring the risks?
Maybe investing in stocks rather than property is not such a good idea if it all comes crashing down together.
Inheritence
in House prices and the economy
Posted
just console yourself with the thought that it will be worth far less soon.