Jump to content
House Price Crash Forum


  • Posts

  • Joined

  • Last visited

Posts posted by Quicken

  1. As I understand it, there are two types of increment: contractual, and non-contractual. The latter have (generally) been stopped, the former have not. It is largely a contractual law issue, and is basically the same reason that public sector pension reforms will protect accrued rights/benefits.

    My arms length public sector organisation lacks contractual increments and has had a full pay freeze since April 2010. i.e. no nominal pay increase since the April 2009 award (and not a lot then).

    For those of us who have been on a genuine pay freeze, we're well aware it hasn't been universal and are all set to negotiate hard for a corrective pay increase when our freeze finishes.

    EDIT TO ADD: From an HR FAQ:

    Q) Why have other organisations managed to get incremental progression

    during the pay freeze?

    A) This is because some organisations have automatic incremental progression as a term in

    their contracts. * employees do not have this automatic term in their contracts so

    approval to give all employees an increment is required from our government



  2. We now have seen a number of crashes around the world so looking in depth at what happens in them and you can see the same pattern everytime. Because of course it is human beings in all cases who respond the same way. So I first saw the real estate crash in Florida, then in Nevada and Arizona, then the mother of all crashes in California, then Ireland. I was blog reading through all of them.

    Hi aa3, I am curious about the current state of the California crash in terms of what has happened so far and what is likely over the next year or two. Basically, I am looking at a possible move to the bay area (near san fran), which I know historically has been pretty expensive. Do you know anything about the market there?

    Cheers, Q

  3. I see it as more like 2007, it is a decisive break and foreboding of things to come, cant see the markets dropping much lower than this (4 to 5%) before a strong 6 month taking the FTSE back towards 6k or so counter rally, it lines up with H2 2012 far more likely to be similar to 2008 except worse obviously bringing up another major buying opp like 09 before end of 2013

    I hope you're right, as that would fit in nicely with my buying plans, but I can't help feeling that we'll get a big European bank failure this autumn as banking shares continue to collapse.

  4. Time for this little MPC game to end and a proper committee to be installed, preferably one voted in by the public, not appointed like some sort of dictatorship

    I'd replace them with a simple computer algorithm that targets the index rather than the mythical future inflation rate in the index. That way, you get 2% inflation (or whatever the desired target) on average.

  5. Yes but I heard some where If all the road tax was spent on the roads we would have the best roads in the world.

    edit according to this a fifth is spent on the roads.


    Hmmmm, not convinced about any stats collected by the motoring VI's, but rail users also pay to maintain the network through some proportion of their ticket price (difficult to know what the total 'rail maintenance tax' figure is). Regardless, cyclists don't pay road tax...

  6. Unfortunately my company hasn't sighed up to the scheme.

    but with the average commute distance to work of 8.5 miles I would say half of us could cycle to work.


    Indeed, and I have cycled or walked to work for years (max cycle commute roughly 17 miles). On the subject of the rail subsidy, it's worth remembering this:

    1) Giving money to a rail company is not the same thing as giving money to a rail passenger.

    2) Road building and maintenance is paid for from general taxation.


  7. You are talking like there has been no HPC in the Uk.

    The land registry is down something like 17% in nominal terms in 4 years still.

    With inflation running at 5% per year, then prices are down 30-40% in real terms.

    Our only problem is that what we are looking at doesn't look like a crash because:

    a) No one will sell

    B) No one can buy

    c) We are holding the local currency.

    Our 40% has already happened.

    That's because there hasn't been one. Looking at England overall, the DCLG affordability tables here:


    show the ratio of median house price (from land reg) to median wage (ASHE) is only down around 3% from peak:

    2007 7.23

    2010 7.01

    Those are the 'real terms' numbers that matter. Wake me up when we get back to 2002 levels (30% down from here).


    EDIT: Corrections

  8. Where was total debt forgiveness in that thread?

    Anyway at least you made an effort and total debt forgiveness could never happen in the UK, our banking masters wouldn't allow it, so I'll sign it.

    I suggested Jingle Mail in the original thread, as I believe that contributed to the HPC that has happened and is continuing in the states. Given the way the government and legal system works here, I don't expect retrospective implementation. However, if some form of Jingle Mail option were introduced for all future mortgage contracts here, that would motivate some due diligence by the lenders imho. It would be fine if the FSA were capable of imposing same, but I don't see that happening any time soon. To be fair, I was also expecting a little more debate there before the petition submission.


  9. http://epetitions.direct.gov.uk/petitions/3882

    There was a 1000-character limit, so I had to squash it a little, but hopefully it's still clear enough.

    Everyone sign it, please!

    Signed it. Waiting for the confirmation email. :)

    EDIT: Some other ones I signed at the weekend while waiting for this one:

    "Change payment of Stamp Duty on Property purchase to be on a sliding scale"

    "Provision of low cost housing for the homeless and others"

    "Make offers on houses binding"

    "Start Building More Council Houses"

    "Council House Waiting Lists To Return"

    "End council tax discount on second homes"

    "Increase Council Tax charges for owners of second and subsequent homes"

    "No one in Local Government should earn more than the Prime Minister"

    "stop the right to buy scheme for council houses"

  10. Hi all,

    I have been wondering about GBP versus USD currency movements. We both have ZIRP, they QE'd more than us, our credit rating is better, and supposedly we are a safe haven (I know, I know). Put another way, the US is in as much trouble as us. So why is the GBP roughly 20% down on the USD since July 2008? Any chance of a correction?


  • Create New...

Important Information

We have placed cookies on your device to help make this website better. You can adjust your cookie settings, otherwise we'll assume you're okay to continue.