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Everything posted by Buddleia

  1. I've got a couple of oz of old industrial gold, 24 carat, four 9s pure. And I want to sell. Now - if I go to the High Street, I assume I will get offered 60% of spot price because they'll sense desperation (after all, you have to be a bit desperate to flog your old jewelry). But I assume for 24 carat gold it must be possible to get a price nearer to spot because there's no need to refine the gold? Thoughts, anyone? Cheers.
  2. I had some Ozzie friends over to dinner last night. They are returning back to Oz in a few months. Hah, I said, you'll pick up a cheap shack now that prices across the industrialised world have turned negative since the financial crisis. Not so, they said, shocked at my Pommy lack of nous. There is a massive boom taking place in Australia. Up 20% year on year apparently. I couldn't believe it. The received wisdom is surely that the global credit crunch has knocked the wind out of the sails of a housing boom caused by cheap credit, and shoddy lending. But Google verified it: Weighted average of the eight major cities is UP 4.8% on the quarter, UP 20.0% on the year. http://www.abs.gov.au/ausstats/[email protected]/mf/6416.0 I find this hard to stomach. We are in a global credit crunch. The Australian economy is tiny compared to the Asian giants it rubs shoulders with. Where the hell is the money coming in from to sustain a housing boom? And to cap it all, Ozzie interest rates are rising, which should set the alarm bells ringing for most people. I just don't get it.
  3. Greece cannot devalue since it is a member of the Euro-zone. Britain still has this flexibility. Although the currency markets imposed a devaluation on Sterling anyway - remember all those threads about parity, and Euro-entry by the back door? I am sitting on a pile of Sterling that I need to use as a deposit in Euros ... so I eye every fluctuation of GPB/EUR with a tremor in my heart ...
  4. Just a technical glitch, according to a Euronext spokesperson ... http://uk.reuters.com/article/idUKTRE59Q3YH20091027
  5. Em ... which country is this, out of interest? There are reciprocal agreements between the EU countries for benefits, if I recall correctly.
  6. Good God, this woman needs her head examined. “We’re going through a recession when we know there’s a substantial built-in growth of householder demand in the pipeline. The demand is not going to go away so we have to ask, how can we maintain supply through the recession?” The problem is not the supply of houses, it's the supply of CREDIT. There are more shite luxury two-bed new-builds on the market than you can shake a demolition ball at!
  7. Yes, it seemed far too healthy for anyone who has googled irrationally on Fractional Reserve Lending to believe. What was the job title of that Essex woman who got sacked from Lehman's? Computer graphics operator? What's that?
  8. Some of those comments are crackers. Like this from Mr Bulgaria (off-plan in Plovdiv, by any chance?)
  9. This is something that has been weighing on my mind a bit recently. I earn Euros, but hold some Sterling that I might need in the future converted to Euros. So I have been miffed to see the inexorable decline of Sterling against the Euro. I'm no currency expert - but if the southern satellites like Spain and fantasy lands like Ireland are forced out of the Euro-zone ... won't that make the Euro STRONGER as it will be more tightly bonded to the German economy and other work-horses like Holland?
  10. Ambrose makes some decent points in this article. The situation is not exactly the same in the UK: "In America, 29pc of all mortgages issued at the height of the bubble were 100pc loans - or even 105pc or 110pc, to pay for furniture. The craze has not gone so far in Britain, where the equity stake in half the lower-tier loans is 20pc or more, and prices have not been pushed beyond historic extremes." But his past point (bolded) made me sit up straight. I thought it was received wisdom on HPC that inflated-adjusted prices are at all-time highs, and is one of the main arguments I use when talking to bullish friends. So who's correct?
  11. Fair point, well made. It seems that there are just as many, that's all. But I think people should stop having a go at the single mums for feck's sake. It's so obviously loose credit and the banks that have let this ludicrous global asset bubble get out of hand. Everyone else - you, me, and the feckless government, whose remit is to offer a safety net to single mums and plenty of others - has to work within this situation.
  12. That's a lot of bitterness you are bottling up there, my friend. But back to your original point, I can assure you that Holland has proportionally just as many single muns as the UK, and despite the easy availability of decent council housing has still experienced a tremendous bubble. I know, because I live there.
  13. Does everyone from UKIP have such a toxic viewpoint?
  14. The proportion of the UK housing bubble caused by providing homes for single mums is statistically negligable. Did the government only start providing houses for them in 1995 at the depth of the last house price crash? What contemptible crap. Look elsewhere for blame.
  15. Not sure what point you are making ... Holland has had a massive housing bubble, too. It's just that it has no real shortage of socially assisted housing (yes - council housing) because it's throwing them up all the time on reclaimed land. Rents in the private sector are so high they make your balls climb back up just contemplating them. So still not sure what the single mums have to do with the UK housing bubble and your inability to afford a decent dwelling.
  16. Hmm ... nothing to do with single mums. Holland has a very sound social housing policy for those who choose to rent (and believe me, millions do rent for their entire lives and think nothing odd about it). Council housing has no stigma here - if you've ever been to Amsterdam, a large proportion of those beautiful canal-side houses are owned and let by the council in perpetuity for absolute pepper-corn rents. Of course, you have to qualify for these properties by being on a waiting list for, quite literally, years. No chance of swanning in from overseas and bagging one of these des-rezes - the majority of recent immigrants are forced to rent in miserable shit-holes the the West and SouthEast of the city.
  17. Sorry, this is nonsense. Germany is the only country in Europe to have escaped a bubble. The bubble is a GLOBAL phenomenon across the industrialised world, Japan and Germany excepted.
  18. Both the Daily Mail and the Torygraph have articles today on the flood of Poles - I guess I'm a little jaded to this topic. http://www.dailymail.co.uk/pages/live/arti...in_page_id=1770 http://www.telegraph.co.uk/news/main.jhtml...migrants128.xml
  19. yawn ... the usual misanthropy based on apocryphal tales ...
  20. er ... I am a professional with two degrees. 3.5 times salary in my part of SW London buys ... a studio, if I am, lucky. And that's throwing years of savings down as a deposit. Where is the space to compromise?
  21. "The lesson she has learnt is to invest only in new-build flats with low maintenance." Hmm ... that would be those new-build flats that are priced O-so competitively by developers, and which fall apart after a few years?
  22. Well this thread has certainly ruffled some feathers. I sympathise with OP ... but council housing is also a lottery like no other. There are hideous council estates I would never dare to tread, and an awful lot of recent immigrants end up there. Remember the Iraqi that got stabbed in Glasgee because the rumours went out they 'they was all kemmin in en picking up all the choice houses'. A fine line to tread.
  23. But seriously, could a government force major international banks to restrict their lending in order to prevent serious house price inflation? It would certainly take some balls. And they would lose the next election. But it just might avert a bubble.
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