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spyguy

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Everything posted by spyguy

  1. I bet Busta's not dancing much these days. And not just cause hes too old . Turkey plucking, break dancing, over leveraged loon.
  2. I've seen some numbers. There maybe slightly more COn MPs ho have a BTL but for total greed and buying loads then its Lab MPs.
  3. Who coined Busta Move? I remember using when I heard of his Turkey stuffing, break dancing past. I read your book and noticed that you used it too.
  4. That sounds like most form of finance - investment banking, trading, etc. Always explodes a few years down the line - Glencore, LTC, Bears Stearns.
  5. Ah but how many houses do the own each compared to Labour? Fewer Lab MPs own BTL but those that do own a lot more. Meacher anyone?
  6. Leveraged BTL LLs operate on avery thin skin of solvency - the model encourages them to skate on thin ce. Most L-BTL-LL scrape about about 1mo nths rent in free cash - and thats with letting the building fabric go to ruin. I think BTL IO mortgages will be banned soon. The fact that the only banks and the likes offerign them are 'specialised' i.e. dumbest in the market ought to give you an idea.
  7. There is something totally crooked and evil about those £50/£100 apsin FOBT. They are only used by the most adducted gambler or the local dealer, laundering their money. KUdo to LibDems for indentify them a a scourge. Rot in hell LibDem for not doing anything.
  8. 'Industry-wise, Steve has so far spoken with Directors at the British Property Federation, the National Landlords Association and is due to speak to Directors of the Residential Landlords Association this week. The goal has been to work together and we hope to be able to make some positive announcements over the next week.' So ... he's spoken to anyone bar, say, a tax lawyer, who could offer sensible, relevant advise and guidance.
  9. There has to be a total change to people and their attitude to debt. In the days of subbed (MIRAS) mortgages and better-than-inflation pay increases (and low HP to income ratios!) taking on a large (for those days - 5 times main salary!!!) was only painful for a few years. Wages increases at 10% for 5 years halved the nominal cost of the mortgage. These days when I know a lot of people earning less in nominal terms, never mind real!, than the were 10-15 years ago - fcked with a large mortgage.
  10. No. You'd see the HP/earning multiple fall to to more than it was at the top of the 80s boom. The entire UK would not be fcked. Only those people carrying more than 250K housing debt.
  11. No you pay for the commute after tax - that 3k is about 5k of your taxed money.
  12. Voids will ruin a leveraged BTLer. Not tghat they relaise that with their 'board it up and no one can have it' comments. They do know that the bank wants its mortgafe wether the place is rented or not. I gues they can lobby government ot make the mortgage only payable if the place is occupied. The wild card on rents and voids is Brexit. I think its more likely than not. Then all the EE and EU nationals claiming housing benefit will go 'poof!' or rather their housing benefit will stop. The LL will still have to evict them. Anothger poibnt struck as I walked by some places that have been empty for over 2 months. If an OO leaves a house unoccupied for 2months then the housing insurance is voided. Does the same thing happen with BTL?
  13. In the 90s HPC the HP/ earing ratio was half what it is now! And there was virtually no hot, foriegn money. Markets have their normal cycles. Then there are hugely overly leveraged cycles, which result in the eventual destruction of the the price of the underlying asset.
  14. Individuals and organisations with no position to hedge should not touch currencies. Its that simple. Leveraged frex trading is a quicker way to go bust thna one of those 100 FOBT machins at Ladbrokes.
  15. The only people having to sell will be leveraged IO BTLers. The LL is making the assumption he's got time on his side - hes not. As far as boarding up the house. No problems, go ahead. He'll have to pay the mortgage on it anyhow - although he'll be in breach of his mortgage terms if its empty fpr more than 2 months. You never sell below or above the market rate; you sell *at* the market rate. Can't these thickos get in that fact in their heads??
  16. I wonder if Gidiot had some prelim figures before he did 'We are in sht1' speech? The pounds has been propped up as we sold large chunks of London to corrupt hardworking Chinese + Russians. Without that inflow - and i was huge - the current account deficit is a bit of a problem.
  17. Updated for the UK. You have an economy where are large part - tax credits - just sit sucking money in for nothing. Then you have a large, bloated, self serviing public sector. Then you have stuff like 35 year mortgages that have just sucked all the money out of the economy.
  18. I know Paragon will die. I don't know *how* Paragon will die or how dramatic and messy it'll be. My gut feeling is, like all business built on securtisation (PubCos, etc), the finance model does not work like they think it works. I'd guess that some sort of bottomless financial void will open up and suck all their BTLers asset into it.
  19. Im with the Dutch on the EU. This week's Charlemagne is a good summary: http://www.economist.com/news/europe/21685498-their-coolness-towards-eu-and-multiculturalism-dutch-were-ahead-europes-curve-early If I was David Cameron - and Im not Dutch or David Cameron - then I'd do the following: - Register all EU nations in reciepit of benefit and/or schooling. Insist on a deposit of 20k per child to cover costs in the event of a Brexit. - Run national adverts telling that no EU housign benefit will be paid in the event of a Brexit. - Start making noises about the event of the UK army withdrawing from EU control structure. The Northern Europe countries are very on-side with the UK on limiting benefit. They suffer too, but nbot as much as the UK, being spare the 'genius' of Gorddie. The Eastern European countries need to know that, in the event of the UK leaving, they'll have to fight the Russians with a buinch of german tennis coaches. Look, the EU work/job will settle itself out over 20 odd years. The prpblem with the UK was that fcking idiot Brown, not helped by a bunch of Roma. I have nothing against freedom to work within the UK - but it must be work, not to sign on where they can optimise benefits the most.
  20. They claimed that. I call BS on my stats on family. 2 - 3 moves max. Every 7 years EA wishful thinking.
  21. Fighting over scraps of foof http://www.dailymail.co.uk/news/article-3393723/Shocking-video-shows-half-naked-woman-fighting-female-reveller-outside-kebab-shop-Aberdeen.html
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