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Spork of Damocles

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Everything posted by Spork of Damocles

  1. That's way too short for German. It'll be something like "arschumhochhebt macht frei" surely?
  2. Geography doesn't really help. London can easily expand on all sides (although the eastern side is prone to a bit wet). SF is enclosed on three sides by water and by a whacking great hill to the south, and about as built-up as it can get without increasing housing density. There is scope down the peninsula, but even with the half decent public transport SF has, it would need more.
  3. Doesn't he have an NHBC for it? That should provide ten years' cover.
  4. Unless I'm sadly mistaken, you are under no obligation to accept the rise. If you refuse they can either comply or give you notice – simply refusing a rent rise is not a notice to quit. It changes a bit if they serve a S13 notice as the process is more complicated – but there is an appeals process and that does not in itself act as a notice to quit (although you can probably bet on an S21 later).
  5. It's that level of analysis that makes this forum so worthwhile.
  6. In a groundbreaking study, scientists found 60% of forum participants are unable to read a paragraph and construct an accurate summary of it but will cheerfully whine about the poor quality of media sources while quoting slavishly from the headline. Try reading it again: "Compared to other age groups, older adults tended to prefer to lock in guaranteed earnings over gambling on a bigger win. But when it came to gambling on a loss (where you can choose between say, a $5 loss or a chance to lose either $0 or $8), older adults took significantly more risks." The higher risk only applies to anticipated losses and it's a common theme in economics research that humans (of all ages) do not assess potential losses well. That paragraph does not equate to overall "risker, poorer" financial decisions in older people.
  7. Wow really. The tea party guy must have been really concerned about that. I wondered what he convinced his GOP mates to do... ...Oh wait, I know, he along with the rest of them delayed and blocked the creation of the committee that would negotiate and present such a budget. And when it comes to negotiating on an interim budget, agree a deal but block any progress in order to delay an unrelated bill (Obamacare) that had already been approved. Then he goes on talk radio and TV and complains about not having a budget put to him. Moron. I guess he isn't really. Lots of people just hear the soundbites and suck them up because the arcane shenanigans these guys put into action when in Congress/Senate sound too complex to understand.
  8. Is this the video where Moneyweek attempts to sell you a subscription but instead convinces you to stock up on baked beans and shotguns?
  9. Maybe they haven't done enough new lending to justify the cheapest BoE FLS rate or maybe the catch in H2B2 is that they can't lend all the money from FLS (which seems unlikely but the details still aren't out...)
  10. The issue is you need to make proper pizza bread, which takes a fair amount of elbow grease, partial precooking, and the right ingredients. I was just curious as to whether the bread maker was up to punching very stiff partially cooked dough, which is the bit that takes all the effort (and which results in me thinking "so what's up with premade bases?"). As the answers seems to cluster around "burn to a crisp before the dough has a chance to sag" suggests not.
  11. Will it really make proper pizza dough (as in proper, doesn't go soggy in the middle and crisps up properly on the outside)? Or do you still have to part cook and then hand pummel it?
  12. So how come agricultural and industrial land is so much cheaper per acre than residential land, which is for the most part non-productive? Over the very long term, land value in real terms stays pretty much flat. It just wildly oscillates around the mean as shown in the records for the Herengracht properties in Amsterdam.
  13. Horseriding is obviously the natural thing to be doing for someone who can't get around easily. I'm also not clear on why mobility problems call for having the sh*tter in a bedroom. Or steps to the shed next door.
  14. Correct. Pre 1 April 2012 pension liabilities have been transferred to government. Anything after that, including defined benefits pensions to be paid by RMG. Page 4 & 5 of the summary prospectus and some more detail in the full prospectus. It looks as though some of this pension deal will be recorded as a one-off credit in the FH14 results.
  15. They're paying with cash. Now that cash might be borrowed from all manner of offshore banks and probably in many cases via China's shadow banking system. However, the government isn't going to back those loans. (Well, if when China's shadow banking system goes toes-up, we'll probably find the usual suspects over here have had their hand in the cookie jar and will demand bailouts, but that isn't going to be via H2B).
  16. Because the lenders have priced a 20 per cent drop in the market into the system and continue to do so. But Cameron wants to win an election. The bank actually gets back £95k because the government has promised to back that bit. The question is: will the government write off that money or pursue it student-loan style?
  17. UK banks don't like the risk profile of lending to small businesses (unless it's secured on property, natch). Lending to people simply buying property cuts out all the problems of having to risk-assess the business plan. It's easy, cheap and the government is happy to provide them with cheap money to do it. If the government made cheap money contingent on lending to business, the balance would shift. But, that involves letting the housing market find its own way which is currently politically unacceptable. Currently.
  18. A mass UKIP protest vote will sink the Tories much more than it can damage Labour. Now, do we think Carney is giving up on QE because the economy is going well or because he's realised that the bond markets have rumbled the plan? The US can get away with a lot more QE. UK is close to the end of the rope. Only a fraction of houses transact in any one month even in booms. It's who drives those transactions that matter and how many. Nationwide, changes in price correlate pretty well with transaction volumes. If volumes fall below a certain level, they tend to plummet. H2B in my view is simply a panic measure to stop that slide before the election. The fact they've tried to bring it forward makes me think the panic levels have increased and the policy may stop 'working' before the election happens. IO loans are toast. You might as well wave a flag to the markets with "It's all over" if this is the only way out. Mortgage tax relief is a possibility but a political gift to the Opposition, who will gladly accept the votes of the renting population and cheerfully point at the gaping hole in the public accounts. Long-term fixed rate is a possibility*, but which bank would be daft enough to accept that? I know they're pretty daft but they have to draw the line somewhere. The government liabilities would be enormous. The advantage of H2B is that it's relatively cheap to support even if that bundle of mortgages goes south. Everything else costs a fortune. * Although I think it would be good for the UK consumer to have a greater choice of mortgages that emulate the US system where rates are fixed for the term of the mortgage unless you renegotiate in the case of major shifts down (which isn't likely for a good long while).
  19. The paranoia is strong in this thread. Can you point to the legislation that buying a property in the UK provides automatic residency? The last I saw was that investing >£1m gave you more points for immigration but was not automatic. Spain OTOH floated the idea of automatic residency based on buying a property over a certain value.
  20. If the flat was meant to be sold with the freehold, why do you still have it? And are you aware that for leaseholders to pay ground rent these days you have to bill them? The rules changed some years back and leaseholders are under no obligation to pay ground rent unless they receive the demand in a particular form.
  21. In railway jargon, Spad = signal passed at danger. Seems somewhat fitting for special (needs) advisors.
  22. The first bit was a joke. You're not getting hostility just bemusement as to how someone who (if not a troll) apparently can't use a search engine is going to deal with DIY conveyancing. Want to know what's involved, try this: http://www.home.co.uk/guides/selling/conveyancing.htm There's plenty more where that came from. I don't know how you value your time but three hundred nicker to have someone (almost certainly not a lawyer) with access to some decent templates and experience of having done it a few times versus seems better value to me than going blind into DIY conveyancing and taking much longer over it because you don't know what's involved. And potentially getting screwed over later because you messed up one of the stages.
  23. No. Interest rates were punishingly high during this phase because of inflation and the ERM requirements even before they reached, albeit for one day only, the eyewatering levels of Black (um, White) Wednesday. And London dropped like a stone the minute the crash hit, only stabilising around 1993.
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