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John The Pessimist

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Everything posted by John The Pessimist

  1. Lenders say take on more debt now.......... Garbage like this is what is making content behind paywalls look attractive. http://www.telegraph.co.uk/finance/personalfinance/borrowing/mortgages/11402902/There-may-never-be-a-better-time-to-buy-a-home.html Comments are heartwarming ???
  2. Most of us aspire to being homeowners, just not at current prices. The merits of renting have been discussed at length here (flexibility, mobility, maintenance etc). Despite all of these advantages, I believe a lot of our most prolific posters would buy, if houses became affordable (big assumption and disregards likely economic chaos of a HPC). Why is there this 'compulsion' to own, with all the potential downsides? Ultimately a lot of LL's are f┬ąckwits (refer to early pages of the West Brom thread), and current tenancies provide minimal security of tenure. If nobody is prepared to allow building, if nobody is prepared to trigger a HPC (IR hike and/ or MMR for BTL), then we must force the debate on tenancy reform. If we don't do it now, it'll be another 5 years of props and ZIRP.
  3. It's owned by Unilever. I hope you're not casting aspersions at the highly talented/paid execs of that fine organisation?
  4. Thurrock is the armpit of Essex. If I wanted to pay lipservice to an issue, and be guaranteed of zero insightful commentary, Thurrock would be my destination of choice.
  5. I'm sceptical, and not just because it's from the Telegraph...... http://www.telegraph.co.uk/finance/personalfinance/borrowing/mortgages/11379234/Lenders-trapping-borrowers-who-want-to-downsize.html
  6. Is the 'making bombed out banks look solvent' comment at the end of the article an effort to preserve his (Halligan's) future credibility? The way he has phrased it could equally apply to EZ or US & UK banks.....
  7. In six months some 'canny investor' will put it back on the market having subdivided it or as a HMO.
  8. QE + 'austerity' are what we've had here since 2009. EA's continue to gel their hair, vendors continue to ask crazy prices, & bankers continue to lend. Joe Public only cares when it hits them in the pocket. And then they'll complain about Foreign Aid, migrants etc.
  9. I dunno, the mood music feels a lot grimmer of late. See this morning's puff piece from the Torygraph below. We've spent years waiting for a 'trigger', but when sentiment turns, do you really need one? http://www.telegraph.co.uk/finance/newsbysector/constructionandproperty/11354128/Gazundering-to-return-to-the-housing-market-as-buyers-get-the-upper-hand.html
  10. Back in the heady days of '04, I took out a 90%LTV lifetime tracker from PTSB at ECB + 0.69%! They have a huge book of loans like this which are causing them to haemorrhage cash. It's not surprising they're failing stress tests. It's the cheapest money I'll ever borrow!
  11. Much to my surprise, I agreed with some of this.... http://www.telegraph.co.uk/men/thinking-man/11321858/Ten-ways-we-could-fix-broken-Britain.html
  12. Buying a 'forever house' seems novel in certain quarters...... Of course when they mention opening a wing for returning children and their families, you know you've fallen through the rabbit hole to Wonderland! http://www.telegraph.co.uk/property/propertyadvice/11318005/How-do-you-find-your-dream-home.html
  13. In the event of EZ instability, surely more money will flow into the London 'safehaven'? Memories of Cyprus are very fresh within EZ. A LabNats government will be very comfortable running up the tab on the UK credit card to 'spur growth'.
  14. Unless it's pure luck (lotto win), it takes a certain competitive streak to amass that kind of money. Once you hit a certain target, you just pick another.
  15. Telegraph piece attacking EA's new website as 'anti-homeowner'. I don't really see how it's really an issue if the market is booming. However if the market were falling...... http://www.telegraph.co.uk/finance/newsbysector/constructionandproperty/11317894/Why-selling-your-home-in-2015-is-about-to-become-a-real-headache.html
  16. Telegraph piece attacking EA's new website as 'anti-homeowner'. I don't really see how it's really an issue if the market is booming. However if the market were falling...... http://www.telegraph.co.uk/finance/newsbysector/constructionandproperty/11317894/Why-selling-your-home-in-2015-is-about-to-become-a-real-headache.html Edit, duplicate post, Mods please delete!
  17. And savers, and anyone with a pension. But also the pols that are in power when it happens, irrespective of what colour tie they wear, so they kick it into the long grass and talk about anything else.
  18. According to Vicky Pryce (she of the speeding points saga) in today's Daily Mail, Greece's current account is in surplus, once debt servicing is excluded. (Apologies for no link, I was looking at the deadwood press version.) It's a compelling narrative for Syriza, we (the Greeks) are now bleeding to prop up the European banks.
  19. Bear food num num num.... http://www.telegraph.co.uk/finance/newsbysector/constructionandproperty/11302018/House-price-growth-in-only-three-UK-cities-and-Londons-not-one-of-them.html
  20. It took 9 years for rationing to end after the war. can you imagine something as prescriptive as rationing lasting 2 electoral cycles* in the 'modern' age? The focus groups & the spin doctors would immediately target it as a vote winner. Populism is all about giving the masses (power base) what they want, when they want it. Democracy, ideally, is circumscribed by a set of overarching rules that maintain the common good, including that of future generations. The difference between the 2 is wafer thin and depends upon an educated and informed electoral cohort. Unfortunately nobody has devised an acceptable selection process, so we are left with universal sufferage. The outcome of this is apparent in my signature below and the countless boomer bashing threads on HPC. So without a recognised common purpose, agreed levels of restraint, democracy and populism are interchangeable concepts. * it lasted 14 years, and long after the demise http://news.bbc.co.uk/onthisday/hi/dates/stories/july/4/newsid_3818000/3818563.stm
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