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House Price Crash Forum


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Posts posted by Dicky

  1. Why on earth are people panicing? Why just get 10% of a house when a minimum of 30-40% is in the offing. I'm quite content renting, but a friend of mine has jumped ship and got a "bargain". One bedroom flat in St. John's Wood reduced from 190 to 178 because, according to him, house prices have stabilised and will now rise, renting is dead money and he wants to get on the property ladder.

    Oh dear

    Sounds like he got a real bargain there.


  2. Just saw this on the news, its been organised by Philip Green & co the retail tycoon who wanted to buy M&S, its looking abit sad and desparate.

    Some retail expert reckons everyones avoiding central London and shopping around it, she refered to it as the doughnut effect, more like the sh** sandwich effect.

    Times really is hard out there for retailers.


  3. Thats the real reason Iran WILL be attacked very soon.

    Chavez is dead meat also for the same reasons. He has tasted his last Turkey.......................

    I very much doubt that, don't **** with China and Russia they need cheap oil too.

    Wary about American foreign policy, he has expanded his relations with Russia, China, India and Iran. Many believe he may face more coups. The oil asset of Venezuela makes it vulnerable. But China, India and Russia have interest in the same. That may make some difference. The BRIC alliance (Brazil, Russia, India and China) will oppose any invasion or external intervention in Venezuela. It will interest to see how BRIC will defend its Venezuelan oil interests in case of a similar crisis.


  4. What I find quite alarming is that he's going to dump all these possessions (at well below their replacement value), so that he can get on the housing ladder.

    Imagine no possessions

    I wonder if you can

    No need for greed or hunger

    A brotherhood of man

    Imagine all the people

    Sharing all the world...

    You may say I'm a dreamer

    But I'm not the only one

    I hope someday you'll join us

    And the world will be as one

    Far out man.

  5. Sips

    Few more questions if anybody can help:

    Would the tax discount be availble to all higher rate tax payers i.e. even those who just earn over the threshold (pay approx £32,000)

    Will enough money move in to the BTL market to perpetuate the bubble?

    If the bubble is falsely maintanted by Sips what economic and social effects will it have?

    Are Sips designed to maintain the bubble long enough to keep Labour in?

    Any help appreciated?


    Money has to come from somewhere, its not simply magiced out of the air, if more dosh starts flowing into SIPPS then equity markets will suffer, company profits will fall, unemployment will rise, rent returns will fall , which in turn will hit yields and capital growth on SIPP investors.

    The trick with every money make scam is to hit the market at the peak then do a runner just as the shoe shine investors arrive. The smart money will be collecting the commission on sales and managenment fees while the muppets risk everything.

  6. So put up the interest rates to make it more likely that people will pay back their debts??

    Nope, yet again another big institution screwing the people who live their lives in moderation to allow for the morons who max themselves out.

    Glad to be British. :angry:

    This is a classic sign of a recession ahead, BOE rates falling but credit costs rising, the banks want their money back fast before the dam breaks.

  7. The Times is saying in a number of articles that:

    A higher-rate taxpayer buying a £100,000 property through the scheme would receive a £23,000 rebate and a further £28,000 into the SIPP, making a total of £51,000 in tax breaks on the purchase.

    Can anyone make these figures stack up – even roughly in round numbers? :unsure:

    I'm still trying to understand these SIPPS but can't even make the basic figures work ... always end up with, per 100k SIPP assets - 78k contribution, 22k tax refund into SIPP (total 100=78+22), personal tax refund 30k, hence cost per 100k asset is 78-30 = 48k.

    Edit: This SIPPS Guide is good


    but then I can't quite make their example (taxation paragraph) work either ...

    per 1000k SIPP, 780k contribution, 220k refund into SIPP (yes!), but (180k=them, 300k=me) personal refund.

    Its quite simple, at the moment your pension contributions from your salary are taken out of your gross salary so its effectively like saying for every 78p you put in the Government puts in a further 22p, for higher tax payers which charge 40% tax they get a furhter rebate on you tax return of 18p to make the 40p contribution buy the Government.

    When you retire you end up paying tax on your pension income anyway, can't see what all the fuss is about.

  8. Although there are arguments that SIPPS won't affect the HPC, any new money going into the market will slow slow things down and maybe make the bottom higher. It is in our interests for SIPPs to be shelved or put on hold. Our government is totally driven by opinion polls. WRITE TO YOUR MP VOICING YOUR OPPOSITION TO SIPPS. To find out who your MP is follow the link below:


    Send the letter to:

    House of Commons, London, SW1A 0AA

    This is the letter I sent my MP. You can probably do better.

    Dear Celia Barlow,

    I am writing in vehement opposition to the new changes to SIPPS, whereby the chancellor will allow second properties to be included in Pension plans and for the purchasers to obtain upto 40% tax relief on such purchases.

    Considering the current ludicrous prices in the Brighton and Hove area where someone like myself, a Ph.D. qualified professional earning k40, is struggling to afford a two bed flat, the thought that the government is about to subsidise the purchase of properties by the super rich so that these properties become even more out of the reach of ordinary people, is unbelievably repugnant. They make some of Mrs Thatchers tax policies look Chartist in comparison.

    I will never vote labour again if this policy goes through. It is disgusting.

    Yours sincerely,

    Her Relpy:

    I hear what you're saying and I feel your pain but unfortunately the Labour party has no powers at all, big business like banks and builders now run the show, we've only manager to avoid an 90's style ression so far because we've let them shaft the population into high debt.


  9. I wouldn't take too much notice of NorthWest Tonight. A couple of months ago they 'proved' that the GCSE is just as tough as an O level. They sat some students down and they sat two papers in Maths getting roughly the same result.

    ITN ran a test days earlier showing that A levels today aren't up to old standards by getting some A level students to take a 1987 paper.

    Coming from a family of lecturers and having spent far too long in education myself, I can say without hesistation that ITN were right and BBC were talking utter bull****.

    I totally agree, I sat 87' A-level and got straight A's Maths, Physicsl, Further Maths, I now interview folks with 3/4 A's and degrees who think Calculus is a city in Italy, this country is seriuosly going down the sh1tter, god help us.

  10. Could not believe the blatent spin even from the BBC, this was the worst I have seen yet.!

    Trailed before main BBC news House prices in Manchester up 400% since 1996

    Went on to say despite reports of a slump in other areas no sign of slump in manchester and most other areas in the region

    Interviwed two estate agents one saying property market was thriving, another saying he expected pices to go up 2-3% for the next few years at least

    What was the point of the article ? Nothing but estate agent views expressed it was a discrace the BBC should be better than this, it just shows todays "House Price Slump" headline has hit a few raw nerves



    "At least 2/3% in the next few years" thats not growth, thats not even a mild swelling.

    A thriving market should be 10% above inflation, 2% is -2% in real terms, where did they get those goons from.

  11. I'm off househunting tomorrow (don't ask - no choice) and was wondering whether any people on the forum had any ideas of questions to ask that produce answers that have a negative effect on the asking price.

    I'm thinking:

    How noisey are your neighbours?

    How much did you buy the place for and when?

    Are you in a hurry to move?


    I'm a cash buyer in no hurry and I'm only looking at houses which have been on the market a while and have already been reduced in price (I have read this forum for a while...)

    BTW it's in Sheffield: the market there is going south rapidly at the moment BTW (I've been monitoring it for 18 months on a spreadsheet like the sad man I am) but I'll let you know what the vibe is in the specific geography forum when I get back.



    Ask them what they do for living, when they say tthey work down the local cash and carry, smile nicely and move on.

    Have a nice day.

  12. I believe you have two tiers of information, one is meant for the wealthy the other is meant for the dumb money. The dumb money will bleed thier money into the system so the smart money can suck it up. I think the smart money will see sipps for what it is and let the dumb money think that the smart money will join in later.

    Spot on the money, most pension schemes are linked to the equity markets, usually return a good yield and grow on ave 9%.

    Property in todays market is 40/50% over priced depending on who you talk to and also is scraping 4/% yield if you're lucky, don't mention the managenment charges and up keep.

    This is truely a dumb ar$e follower, it makes sence if you already have 15 houses you bought 10 years ago but to throw money into the houses for pension pool now makes as much sence as asking a blind man to show you the way to Amarillo.

  13. Maybe...

    Price picked up BECAUSE of price cuts: Bargain-hunters are buying.

    But don't forget: Today's bargain price, is tomorrow's market level

    Another way to look at is sellers desparate to sell due to fixed 3% deals ending who have been unable to afford 6% SVR been forced into to a quick reduced sale.

    Don't beleive me go to www.housepricenet and see how many homes bought 2/3 years ago are now on the market, this can't just be coinsidence.

    This all looks like desparate sellers rather than excited buyers.

  14. http://uk.biz.yahoo.com/26092005/17/standa...g-pensions.html

    "This month, Standard Life disclosed that it had taken in more than £1 billion in new-style schemes ahead of next year's changes, and others have also disclosed boosts. "

    Is this level of investment something to be concerned about? This is one of the reasons I'm not predicting a crash until this time next year.


    1 billion, whoopee, ave property cost = £180K, this represents about 5 thousand properties out of 20 Million, or 0.025% of the housing market in the UK, I really wish folks would stop creating a storm in pi$$ pot.

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