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House Price Crash Forum

LVM

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About LVM

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  1. I've worked as an IT consultant at a number of banks, both retail and investment, and can confirm that this happens at most of them. I'm currently working at a continental European investment bank on a £40m capital project that will deliver very little business benefit. It is a box-ticking exercise for a reasonably senior individual so that he can have a shot at the board. I have monthly meetings where I challenge the dates pencilled in by a previous programme manager and explain to senior management that the next release will be crap, but it all falls on deaf ears. In fact the release in June caused the bank to be out of the FX market for three days, yet because something was delivered, even though it was an utter disaster due to lack of testing (no time!), senior managers were slapping IT on the back. These "businesses" deserve to be destroyed by the challenger banks. They are rotten.
  2. https://www.zoopla.co.uk/for-sale/details/44218238
  3. Newton hasn't been winning since Einstein formulated his theory of general relativity ? </physics_nerdishness>
  4. In years to come, an economist who is currently in nappies will win a Nobel prize for linking phenomena like Brexit, Trump and Corbyn directly to the GFC and QE.
  5. Depends where your savings are. Popular equity funds are up 10% YTD despite poor performance during spring.
  6. I went short in mid-June. Probably time to take some profits, although going to zero isn't out of the question...
  7. But the economy isn't flatlining. Tax receipts are up. The FTSE is at an all-time high. The Q1 GDP figures will end up being revised upwards. The City is hiring again. Anecdotally, I know of banks giving 20% pay rises, and my new firm is hiring like there's no tomorrow. This stuff just doesn't happen in a "flatlining" economy.
  8. HL allowed me to use my entire annual ISA allowance, then open a LISA and add £4k of funds. That's not supposed to be allowed, but as I merely a simple retail investor, it's on their heads.
  9. They all rattle or squeak from somewhere at some point. Modern cars are mostly fitted with "sports" (i.e. stupidly stiffly sprung and under-damped) suspension that transmits all of the road buzz and knocks from potholes straight into the (usually floppy) chassis, where it then causes bits of trim and wiring loom to come loose, screws and bolts to work free etc. Get yourself a mechanic's stethoscope, some silicone grease and a roll of foam and you'll be able to fix all of that annoying squeaking and rattling for pennies.
  10. Long-time lurker... I think that the UK has entered recession. My inbox is full of spam for sales at various large retailers, with discounts of anything up to 50%. Car dealers are openly advertising a couple of grand off a new car as a starting point for negotiation before the haggling has even begun. Even the pound shop I cycle past on my way to work has started an "everything 90p" promotion. GDP figures, being next to useless, may not show the UK entering de facto recession this year, but it certainly feels like we're there to me. Have to confess I am hunkered down purely in GBP at the moment, having sold off my foreign currency, UK equities and p2p loans a few months ago. I have no idea what's coming next now that the QE experiment has demonstrably failed. FWIW I see GBP strengthening a little further, therefore no immediate need to take positions, but the only trade I see allowing me to sleep soundly when I do will be to switch half of it into USD and a small allocation to physical gold - and a tin foil hat to go with that view!
  11. House prices fall, people who are currently renting buy, demand for rental properties falls, rents fall.
  12. Don't fall into the trap of thinking that "The Government" will be better/worse off. Government is funded by taxation, i.e. you and I. You and I will be better off after HPC, for two reason: 1. We'll be able to buy a house without saddling ourselves with a huge unrepayable debt. 2. Our tax burden will be lighter due to a decrease in spending on housing benefit. Based on income from stamp duty of £7bn and expenditure on housing benefit of £25bn.
  13. I'm an IT contractor and I have to use a PSC; in my experience, nobody wants to hire sole traders for contract work - you must be employed via a ltd co. Anyone who thinks that working through a PSC is some sort of tax-free nirvana has never tried it. If you need to take a decent wage out of the company, it essentially allows you to avoid paying NI, that's about it.
  14. I wouldn't call Muswell Hill "up and coming". Grads don't want to be this far out; it really is quite a family-oriented area, so I can't see a stampede for a 1-bedder at £200 a month over market value. If LL won't budge, I'll be moving out.
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