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plummet expert

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Posts posted by plummet expert

  1. Chocolate fudge should do it I think. Yes, up the production of all fudge and export it in massive overpriced quantities, then press a button on the computer to show that our balance of payments is marvellous, and of course the deficit is down by 3 qrtrs. Also production will be up, so no recession - now that's sweet...

  2. Back in 2007 I would never believe it could be possible.

    We have now been printing funny money for years.

    Now it's going to be given to people who can't save to buy STILL overpriced property.


    I arranged 2 viewings this week and both sold before we had our chance to view!

    Won't push up house prices. It's already started.

    I expected to have my family in an average 3 bed semi by now. Next year I expect to keep them warm by throwing £££ on the fire.

    I'm sorry for us all. This misguided govt is trying to 'buck the market' with non-existent cash. It will end in tears. It may be that people will not take the bait - it will be interesting to see how the no. of mortgage apps goes - for new lending. Savers are obviously stupid according to this govt, since all money can be printed or electronically summonsed, on a Bof E laptop, thebanks and people are all govt guaranteed...so what's the point of worrying you might ask? Paaaaaaaaaaaaaaaaaaaaaaa...aaaarggggggg.....plummet

  3. The main risk I see is that people are still fixated on building affordable housing. We should be thinking of building high-quality housing and then enjoying the overall increase in affordability that would result from an increased supply.

    It's the older two-up, two-down terraces or equivalent properties which should become the affordable housing in the short term, not newly built substandard boxes which are subsidised in some way.

    It all implies that house prices will fall if large scale building were encouraged. In fact it is only partly true. If interest rates were to be 'normal' then I firmly belive you would see an almighty correction - and boy do we need one! Land prices are controlled by the ability to borrow. If we put rates back up and restrict lending multiples to 2.25 x salary, prime and sub alike, then the market would adjust and rents would fall alongside indue course, HB would become sheaper, the cost of living would fall, the wage pressure would wane, the manufacturing would become cheaper........malinvestment to simple bricks on mud would correct, growth would return, some people would be in negative equity and some would go bankrupt - all alot better than the whole country living in lalalalalala land forever.

  4. Savers in this country are often having several % of buying power removed form them forcibly by this Govt, since they have allowed the Bo of E to set a ludicrously low interest rate below inflation year after year. It is the permanent rape of savers. Not a sign of a bank run here since Northern Rock....

  5. If 60% of people get degrees, 20% of people with degrees will have a below average IQ.

    Given that many very smart people like myself (top 0.2%) choose not to get degrees and get jobs from experience and talent, with 50% of people going to uni at the peak, there were a lot of people graduating UK universities with below average IQs.

    And that's why degrees from UK universities are worthless.

    I am sure u can tell us the answer then, given that you're so vewy vewy clever yourself? Should we pump billions into pointless degrees (loaded Q) or spend more time training people in post with day release, or just have academic and non- academic style apprenticeship?

    What gets me going is to hear that Companies want to hire p[eople from abroad because ' the skills they seek' are not here in Grrrrreat Britain! Why don't they train them then, either on a UNI course suited to it or a combination of training in post and UNI.

    ANOTHER THING THAT IS QUITE INCREDIBLE, IS TO LEARN THAT WITH COURSE WORK IN GCSE's, students can do the course work over and over gain until they reach the highest grade possible. No wonder the number of A's has soared! People who get an A or A* first time are lumped in with those who did it several times and appear to have the same skill set! We have been kidding ourselves that standards have improved. They have actually gone backwards in some ways since the 1970's. You have people presenting themselves fo Degrees who do not have the basic understanding required and have to be taught, spelling, grammar and underlying knowledge in many cases for a year. No wonder they don't want to take into account first year marks for Degrees.

  6. This doesn't surprise me. My other half works in a call centre, mostly populated with young adults between early and mid twenties. About 2/3 of them have degrees. A workmates girlfriend works at this same call centre and she's just finished a degree in forensics. Plans on a round the world trip next year and then expects to come back and walking into the job she thinks her qualifications warrant. Comletely clueless.

    But it has to be asked, who fault is it really?

    Its the fault of a pointless and politically led increase in provision of 'so called degrees' so we could say that 50% of ypoung people had one..the Blair double vison trip. That's where we encourage young people to spend or borrow huge sums in the belief that a degree confers a great advantage in the workplace. It's all backed up by stats which are very historical showing graduates earning a good deal more over a lifetime than non-grads - they might have at one time. Now that we have so many people pouring out of places, all called Uni whatever the employers think of them, they are finding out that the simple word 'degree' only means something if employers think it does, not if politicans and terciary colleges or CFE's decide to invent a course and add the word degree to the end of it....

    TRY THIS " Parapsychology -they really wanted to call this one 'Ghostbusting' but decided that would probably count as lying. Parapsychology, which was launched as a masters at Coventry University in 2006, looked at the existence of ghosts, haunted houses and 'the survival of bodily death'.

    What about a degree in Golf course management, or even Youth studies....do they need to be degrees?

  7. Graham Penny Auctions held its second Nottingham auction of the year this week (Tuesday 19 March) securing its biggest ever attendance and achieving a staggering 55 per cent above reserve average; well and truly highlighting how the East Midlands property market is on the rise.

    More than 400 people – the biggest crowd Graham Penny Auctions has ever seen – packed into the auction room where a furious round of bidding sold 34 properties and helped the company achieve sales of £3.4m, over £840,000 more than the first Nottingham auction of 2013 last month.

    The property catalogue ranged from terraced and semi-detached homes to joint residential and commercial properties and development land from across Nottingham, Derby and Leicester and further afield including London, Portsmouth and Sunderland.

    Auctioneer Graham Penny commented: “The auction room was quite literally full to the brim with excited bidders and it was a brilliant sight, not only for us but for the East Midlands property sector as a whole. Before the auction we knew we had a strong catalogue of properties and we were confident of achieving some good sales but the results way surpassed our expectations. The level of interest and property sales is slowly gathering momentum and I’m delighted to be at the heart of this upward trend.”

    The auction was part of the East Midlands Landlord Expo at the East Midlands Conference Centre and alongside the sale, Graham Penny also presented a keynote speech entitled: An Auctioneers Guide to Buying at Auction giving advice on how to deal with issues around tenancy deposit disputes, the current requirements for licensing and why tenant referencing is important.

    Highlights of the Nottingham property auction include:

    •56 Penarth Rise, Mapperley: a three bedroomed semi-detached house requiring a scheme of modernisation and improvements had a guide price of £68,000 and sold for £106,000.

    •64 Rossington Road, Sneinton: a traditional end terraced house ideal for investment purposes had a guide price of £48,000 and sold for £67,000.

    •156 Allington Avenue, Lenton: a two bedroomed house in a popular student location had a guide price of £55,000 and sold for £82,000.

    •246 Bye Pass Road, Beeston: a three bedroomed semi-detached house in a popular location had a guide price of £75,000 and sold for £106,000.

    •122-190 Carlton Road: two retail units with two self-contained flats above close to the city centre had a guide price of £85,000 and sold for £159,000.

    •6 Byron Crescent, Awsworth: a three bedroomed detached house in a cul-de-sac location had a guide price of £80,000 and sold for £102,000.

    Entries are now being accepted for the next Nottingham auction at Nottingham Racecourse on Thursday 9th May. The closing date to enter a property into this sale will be Thursday 11th April. Graham Penny Auctions is also hosting a Derby auction at Pride Park Stadium on Thursday 11th April.

    Does somebody think readers of HPC forum are a bit dim? I am sure we are all quite sure that properties rose in price by an average 35% since January having read this article......

  8. They should be allowed to fall, like the banks should have been allowed to fail. However, that would have caused chaos.

    Propping up overvalued assets only postpones the inevitable.

    THAT'S RIGHT! The govt should ensure a quick and severe fall in Land value, then we could get on with building affordable places to live! I know so many late 20, 30 somethings who cannot buy and don't want to buy at these silly prices. The Chancellor has brought along a rag bag of plans to prop up the housing market, but has forgotten that the income multiples do not exist (unless you mean 4 and 5 x incomes is ok for mortgages!) to buy these overpriced boxes on tiny mud plots. He has forgotten that the UK is already one of the three biggest property bubbles on the planet. HE HAS FORGOTTEN THAT THE HOUSING MARKET DOES NOT PRODUCE PRIMARY LASTING WEALTH. In fact he is clueless as to how to direct this economy. He is not evenTory to spend his time inetrefering with normal market forces in this manner. Despair....

  9. Maybe I'm wrong but I don't really see how this scheme helps anyone.

    All it seems to offer is the ability to get a 95% mortgage.

    So for a 260k new build near me I'd need to put down 13k deposit, then pay off the rest as a normal mortgage.

    If I default then this scheme kicks in, but it seems that the lender has to take a hit of 5% on any outstanding amount above the 80% point so the government are not even guaranteeing the whole bit they say they are.

    I really don't think this is going to result in a rush of buyers buying 300k homes with 5% deposits, the banks still won't take the risk.

    Maybe I've got it wrong, but thats what it looks like to me.

    You can still only buy if your income multiples can cope with the outrageous house prices! Rising prices will simply fall down afterwards because it is already a massive bubble inmany parts of the country, particularly the South.

  10. As per our new wonderful scheme in Today budget, i thought it was time we had a concise thread that listed all the Government props to the UK Housing market.

    ive included the "official" website and over view of each scheme. if I've missed any (i am sure i have) please post up

    This is for direct schemes only, and not indirect stuff like keeping IR low or QE. Yes they are used to keep house prices from falling, but they are not setup schemes for the purpose.

    Support for Mortgage Interest


    New Buy


    Funding for Lending


    Help to Buy


    First Buy


    Local Authority Mortgage Scheme (LAMS) - each Local Authority has its own page, if they offer this


    Osborne is a subprime junky on crack! He has no understanding of markets or necessary corrections or malinvestment or competitiveness. In fact it's a wonder he is actually Tory!!!! He does not belive in the free market as afar asa finance is concerned. Whilst it may need many things, one thing it does not need is further distortion. The Budget was vacuous and aimless. There is no coherent strategy. The only thing that has been going along is reducing public sector employees - that's quite right. But the tendency is for low paid part time jobs in their place. Still little in the way of increased manufacturing and exporting

  11. The whole thing is an ****. Hardly anyone was arsed voting for it or gives an **** about it.

    Wth star comments like that you'll go far my lad.

    Frankly the whole idea of PCC's was pathetic, costly, pointless and even farcical. I have seen either ex police officers doing it (Hampshire) or here in Sussex an unsuitable lady, who happens to be the tory candidate who has also appointed someone to 'help' her. What do they think this is? A free for all?

    Why on earth was it a politicised role? That's why voters hated it most, apart from seeing no point whatsoever.

  12. I barely remember the 70's, but they were pretty bad. Some features for those who weren't there :

    i) Cars were crap and rusted to bits. Many people couldn't afford one per family, let alone two.

    ii) Going out to dinner was looked on as a luxury. Probably not a bad thing either, as the variety of food on offer was pretty limited and was of appalling quality. Culniary standards have improved hugely and the variety of food on offer has increased massively.

    iii) TVs were small. Often black and white. One per house. And you couldn't record anything either.

    iv) Foreign holidays to somewhere like spain were a huge luxury afforded only by the middle class and rich.

    v) There were no portable gadgets. You could probably get hold of an early edition walkman that would fit in a rucksack and play with awful sound quality.

    vi) Going to a football match could be life threatening.

    vii) Houses fitted with showers were quite unusual. Often there was only a bath. En suite bathrooms were almost non existent.

    I know in an era of declining living standards it's easy to believe modern life is rubbish and everything in the past was better. And indeed some things were. But in general the standard of living today is much higher than it was back in the 70's, even if dewy eyed old grannies insist otherwise.

    The above is right and I would include that a good half of homes did not have central heating, lots with outside loos. HOWEVER, where this is woefully wrong is when it comes to our ability to buy the same size of home with the same position in life. YOU CAN'T. Homes are about 3 times as much compared to incomes than they were in 1970. Some areas are 60 x as much as then. I will give you an example. Brighton BN1 - House I know of, bought 1970 - £10k. Today - £600k or more. People in Brighton for example, may think living in a fishermans cottage for £400k near a train station is a good idea. Same houses - even in 1992 were £38-45k. Incomes have gone up 28 x since 1970.

    The govts policy is to steal from the savers and give to the borrowers. It is nothing short of the same policy, applied to all bank deposits, as you see now emerging in Cyprus, but in slow motion. Inflation is higher than deposit saving rates! who ever heard of that? It is distortion of the savings and borrowings markets and will have terrible long term consequences.

  13. Hhmm, thanks for the feedback. Does feel like the agent is being cheeky. Think i'll wait a couple of weeks then phone them

    You can post your offer, 'Subject to contract', through their door and aks them to tell the agent their response, stating you did not think he had given it to them as no response. That is the case isn't it? You made an offer and there was no response to that offer - not the same as the, 'they've already refused a higher offer' rebuff, which sadly is sometimes a lie, or otherwise said a long time before and may not matter. As stated on here, agents are legally obliged to inform their clients of all offers, whatever the previous responses.

  14. If only they devoted their energies on this rather than trying to take away poor people's bedrooms.

    Yes they should. But I don't regard people in social housing as beyond being reasonable about the accomodation they need. I met someone this week who said they had tried to swap their 3 bed home for a 1 bed flat with their provider for over a year. Despite a number of attempts to do the reasonable thing (no longer having kids at home) nothing has been done.

    Poeople should be moved over time and be required to do so. they shopuld not be penalisded while waiting when they are offering to do so!

  15. The angle is a bit skewed, it is easy to slapdown people characterised as nothing more than brats expecting an inheritance rather than people who have a reasonable expectation to avoid their parents (edit, meant en masse rather than individually!) taking an adversarial financial position against them, there is a difference.

    Malik makes good points, Ms Altman makes an astonishing statement that bubble prices are being kept high for the benefit of overindebted people in their thirties only! Older people wouldn't mind a 20% fall apparently. My ****, look at voting patterns and attitudes to policies that would see more homes built. If it's true then the number of people the Ponzi is being propped up for is a small minority and should therefore be allowed to implode. I'd be willing to hazard that there will be some reason why this is not palatable. Ros Altman should be pressed on this 'oldies don't mind 20% off prices' imo.

    Evan Davis makes a classic mistake when he says that equity release to fund care home costs is a means of 'getting back' equity from people who have done well from HPI. Well Evan, who ponies up the committments to allow people to get their equity out? The young, you cretin. With interest to boot.

    It would be cheaper to help those poor lemmings who overborrowed than carry on with this ponzi. We sure do need to rebalance the economy, but not by current policies to uphold a property bubble. We would already have been well on the way if it had been done in 2010.

  16. So he's saying, 'we're in a global race, so we're gonna make sure our citizens housing costs remain unbearably high, hindering their efforts to compete.

    Well done Dave. mad.gif

    He has lost his shine. There is no substance; no understanding of how the conomic cycle dictates certain policy issues. He is a front man - his backroom staff have no clue. He heads up The Cluelessition.

  17. Obviously a pretty clueless activist.

    We will all spend less, remain in 'bunker' mode and prepare for the inevitable collapse. The urge to restrain spending grows with every pathetic attempt they make to prop up the farce.

    As you put it, there is a very strong feeling among many not to spend. This is the fallacy of economics being a science - it is a hybrid art/science. The behaviour of the unpredictable - PEOPLE. Fiddling reality in the way this Govt is pursuing is not anything remotely sensible. The plain fact is, this country no longer has the productive capacity to benefit from any 'pump priming'. All we get is a quick sugary fix, followed by a long balance of payments burp, as we suck in more imports. Then tax receipts do not match outgoings....... so the cycle continues. WE ARE NOT PAYING OUR WAY. WE NEED TO PRODUCE MORE AND IMPORT LESS.

  18. The possibilities are endless:

    DeadBuy - Government helps people to buy probate properties so the deceased's relatives can receive an inheritance and buy houses of their own.

    SplitBuy - Government helps people to buy properties from divorcing couples to help them move on with their lives.

    FloodBuy and CliffBuy - Government helps people to buy houses built on floodplains or rapidly eroding cliffs so they can achieve the £500k the Daily Mail says they're worth even though no buyer has showed up at the door with that sum in four years of being on the market.

    FergusBuy - Government helps people to buy houses from former maths teachers who went into BTL and are desperately trying to unwind their interest-only portfolios before the creditors come knocking.

    LOL ......Good one. Sadly very near the truth about all this. FannyMcBenefitBuy & FreddieMayBuyWhatUwant. IT IS HARD TO BELIEVE THE PM EVER STUDIED ECONOMICS AT OXFORD.

  19. to be fair you only have to feel like a retard if you were voting tory representatives in the last election (which was only about 40% of this website) thinking theyd do anything about the debt cycle other than keep it going, i imagine youd get the same numer of jokers voting labour representatives next, and voting UKIP representatives next time and voting whoever representatives next time without looking at the economic core for the last 5000 years of special flowerism and debt


  20. Maybe,but it shows his colours.

    No wonder Osborne actually thought Mr Carney was the 'best candidate' for the job of Governor at the Bof E ! The pumped up Canadian property market is all he has to show for his incumbency in Canada as Governor there. It is now beginning to crumble...... watch our space!


  21. Over the last few years have been thinking of buying something like this if prices came down...


    a few years ago these where selling for a LOT more than £12k

    worth buying and using for a few weeks a year and then renting out?

    I know the fees can be high about £2k per year for these ones, some can be as much as £4k!

    But as the titles says, what are the risks?

    (just to add: looking at the satellite image they're pretty close to the sea/cliffs!)

    If you want to holiday there - have weekends away etc, you go for it! It does not seem excessive. In fact it puts into perspective some of the stupid prices for homes, no better, we all see in the UK. If that were for sale as a home in West Sussex it would fetch at least £180k - 2 beds, lounge, bathroom, room for a pony.

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