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Pop321

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  • About Me
    Apocalypse Now.
    HPC: They told me that you had gone totally insane, and that your methods were unsound.
    118: Are my methods unsound?
    HPC: I don't see any method at all

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  1. And that is without student debt, no pensions and daft house prices at the outset. There has been a real opportunity for a whole generation to build wealth and it has slipped through many peoples fingers because they assumed what they were experiencing was normal. I knew many at work who bought first houses for less than £10K, have £35K pensions (each), houses worth £400K and about £60 in the bank. Those who have maintained being relatively frugal through their 'middle lives' and avoided back luck (ie divorce, illness, family bereavements etc) may have plenty ready for UP plc to collect if the nursing homes don't get there first.
  2. 0.99% sounds a good rate even looking back on those 2007 deals. That will take some beating I have 6 mortgages and although I have the cash to pay them off many are on these low 2007 type rates. They are mostly trackers because back then fixed were at 4 or 5% so not sure where your mate got his from. I got lucky and mostly didn’t fix but that was because I had the cash so I knew if rates rose my savings would also rise….and I borrowed because having debt was useful for tax purposes. What I didn’t expect was for rates to plummet. My average rate is now just under 1%, which is tax deductible….so although my savings earn less it’s still not viable to repay the debt just yet. Reality is I will probably keep them until the terms come up. Best rate is a skipton trackers at 0.49% and another at 0.69%. I do have my old employers staff scheme which is 0.1% but a benefit in kind so works out more like 1% Rates at these levels are shocking I know some people who have borrowed on dozens of properties (HMOs) and the model still works. A small nudge up and the deck of cards collapses but they don’t seem to care 🤷🏻‍♂️
  3. Tricky to track this one but looks like it was bought for £400k in 2014, the street view paints a slightly less appealing setting because it abuts the road (although it is still lovely)….and surrounding properties would appear to make even the new £1m price tag appear expensive. I think they are looking for a London buyer for whom £1m has little meaning. They may have missed that boat.
  4. Near me, they clearly went for the ‘quaint cottage’ sucker market, failed and now having to advertise as ‘knackered and too little’ market. They paid £130k in 2007 and even £175k today is strong. If it were ‘blinged up’ it would do a lot better 🤦🏻‍♂️ Pateley is stunning in summer (the surrounding areas are absolutely outstanding) and it is a good little village town in its own right…but in winter Harrogate is a very long way away. 😉
  5. Agree. I think this thread shows mixed views and it’s influenced by several factors. The key for me (I worked from ‘home’ for 5 years in one of those senior roles) is: 1) my base was either 1 or 1.5 hour each way commute every day. Wonderfully avoidable. 2) my job was 90% meetings therefore I was never isolated or working alone but on calls or FaceTime events. Even if I worked from an office there were several who needed to dial in from round the country. 3) most meetings where everyone was in the same office were not done in rooms but from the desk using screens and ear pieces. 4) I had space at home. 5) occasional London trips and to the numerous head offices eg once every 2 weeks kept it interesting and real The key was my job was 60 hours a week so the time saved commuting didn’t mean I could walk the dog it meant I could work fairly normally hours whilst performing well and give 110%. If I had to drive in I would have struggled as many before me had The average Joe who walks to work, has a nice canteen, works on spreadsheets alone and finishes at 5pm may like the office. As might the career climbing enthusiast. I think we will see a fundamental change and I think some businesses am have yet to discover how much cheaper it is for them too. The 3 people who did my job used to drive to a rendezvous meeting place, discuss something for a couple of hours and all drive home. From home I was dialling into 5/6 big meetings a day making decisions remotely. As were the marketing, product, legal, risk, digital, network, customer rep teams. Huge staff numbers were saved and these were expensive subject matter experts. This will be a very interesting 2/3 years for everyone in these types of roles.
  6. Everyone is a cash buyer….the question is where are they getting the cash from. Lots of people get the ‘cash’ from a mortgage🤦🏻‍♂️
  7. Salary rich asset poor. I know very few boomers who actually saved their wealth. They had wealth thrust upon them. They have to but they shouldn’t need to. Just save the same as previous generations ie about 8% of salary. Some are tiring with the need to earn £60k just to stand still….so without all help ‘we had’ from loyal employers, cheap housing and juicy pension schemes…happy just earn a fraction and enjoy the time whilst you can. It will stop the ‘moaning’ from all millennials if they all just sit back and did this….and someone else can pay for high house prices, existing triple locks, bus passes etc. It’s history repeating itself again and many may just step out and opt for the good life. We could even do a sitcom about it. 😉
  8. Furlough stories are increasingly highlighting this too. Where ‘higher middle earners’ have been only getting 80% pay but starting the breath and realising they can survive. Now it’s back to work but some are no longer incentivised by the next pay award that gets 50% chomped away by UK plc but a looking to reduce hours etc. Furlough had been tough for some but those higher middle earners who pay most tax are starting to reevaluate. example below: “She realised she wanted a less stressful job and to work in charity, and by February she had managed to find a role working at a local shelter for young homeless people - a job she loves. "Had I not been furloughed, I would never have had time to think about my career, so it was a transformational experience really," she told the BBC.” https://www.bbc.co.uk/news/business-57981760
  9. That’s a shocker. Need to reflect on that. Sounds like a wonderful opportunity for the government to raid the piggy bank because soon that generation won’t be influencing much….and more importantly those young millennials who couldn’t be bothered to vote will increasingly start voting in earnest. 😉
  10. 😆. 20% millionaires. Good point re winter fuel allowance. I bet if you tried to remove it we will have the media find a war veteran with no money to say what a mistake it is….rather than interview the couple in Marbella from their yacht.
  11. Wow…..genuine eye opener for me. I worked from home for the last 5 years and this is exactly my experience. From home it was possible to avoid some heavy weight bullies and indeed they often became isolated and exposed. Business needs not personal objectives became paramount. That clearly didn’t suit some people but made progress in the business alot quicker and efficient.
  12. The worry is the longer they are soooooo low the more people believe that’s the norm. We are in unprecedented times and the repercussions when the governments lose control of things and have to raise rates….could also be unprecedented. As the telegraph article suggests I think we need a direction move upwards and fairly soon. It will hurt some people but it doesn’t need to be massive but rather it sets the direction of travel. I know people who are borrowing and buying property (HMO’s) like crazy and they don’t even consider rates going up even the slightest possibility.
  13. I think if that is the case then I guess it’s still a principled objection rather than a practical beneficial one. I guess I wouldn’t even take the time to try find out the ‘truth’ because the truth nowadays in so many things is hidden from us. A terrible admission of distrust and I guess a lazy excuse, I know.
  14. Market still buoyant near me but the frenzy seems to be slowing according to some EAs. Those kite flying are having to real things in and may have been too ambitious to get the very best price. BBC mention today that market slowing. https://www.bbc.co.uk/news/business-57997492
  15. Yep. I see.👍🏻 I guess I do my bit but not nearly enough. However, like a hunter killing a fish and now me using plastic…it’s all about an individual moderate impact. In not an excusable impact but the benefit I derive is smaller than the rewards given to a few. I am referring to non monetary translation of the impact some people are having. I am not playing this as a socialist argument against “the big bad business owner’ because some businesses have little impact….I am just referring to environmental terms. I think the first environmental comment made (not by me) just caught a nerve and my imagination….because I see everything in monetary terms but perhaps that is only one small measure of human existence. Unfortunately it now drives 90% of what we do. Maybe I am becoming environmentally aware. My cousin is a strict vegan for environmental reasons and I never argue with their views….they are right…but I am not committed. And I like lard. 😉
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