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hotblack42

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About hotblack42

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  1. Not saying I was expecting this either but doing a bit of digging - It's old. Its had a good run. Its a success story really - over 3 million cars made. http://www.swindonweb.com/index.asp?m=8&s=116&ss=362&t=PLANES%2C+TRAINS+AND+AUTOMOBILES "Triumph Acclaim: the first collaboration between BL cars and Honda in the early 80s heralded a new era for car production in Swindon, the success of which directly influenced the Japanese car giant's decision to build a factory here in 1985" https://www.pcubed.com/bulletins/lifecycle-manufacturing-plant-birth-old-age "Renewal and Death: Accepting the Inevitable As in life, there reaches a point in every business and factory where the original going concern is no longer justified. There are very few high-performing plants that remain from 1980s boom."
  2. Disclosure: I voted Leave, but only on balance. There are arguments for and against. The determination in some quarters to attach all ills to Brexit really is tragic. My Hamster's looking a bit peaky.. I wonder if its because...? For a long while, the media droning on about Brexit in general seemed to be the most boring thing that's ever happened, but its not. Staunch remainers bleating on about what a stupid idea Brexit is, desperately and tenuously linking it to everything and anything negative, whilst contributing absolutely nothing to preparations is the most tedious and irritating human behaviour exhibited since AL 288-1 walked the earth.
  3. Yup. There are at least 3 kinds of IT contractors: a) Use a Ltd to smooth out income and mitigate tax (pay about 20-25% in the end) and listen to their experienced accountants b) Are gullible and contract on whatever basis their wide boy/girl agent reckons is 'OK' (and entirely co-incidentally makes them money) and rented porsches that they "never thought they'd 'own'" <facepalm> c) Wide boys using non-dom, loan schemes etc. living off money taken out of cash machines from offshore accounts (I am not joking) I, and my mates were in 'a' and soon tired of futile arguments with 'b's (who should never have gone contracting) and listening to the bragging of greedy 'c's (who were often pretty hot technically BTW), knowing they'd get in trouble eventually, or have to leave the UK. Sadly IT contracting does attract a lot of chancers, but the 'a's tend to stick around longer and outnumber both 'b's and 'c's in my experience of multiple gigs.
  4. I should be more precise - many DB schemes will be in trouble. Apparently the transfer values are artificially high due to historically low bond yields - they have to give you a big enough wedge to buy a comparable income for life. I was not aware of the ability of underfunded schemes to reduce TVs, probably because my main pension was with a global insurer that tops the scheme up when necessary (it voluntarily paid in an extra £75M about 10 years ago). I don't have the maths. I do have a close friend who is a Pensions expert and a good IFA and a skilled Investment Manager who I pay to keep across these issues. If prevailing TVs and resultant transfers out create a chronic problem for those still in the scheme anyone planning to stay in really should dig a bit deeper. Especially those who can't or don't want to retire for a few years yet.
  5. I transferred out. If I do live to 100 the DB pension would be being paying out a ludicrous whack by then. Then I die & leave nothing, WTF is the good of that? More likely ill peg it about 70 given family history. By which time I'll have enjoyed a comfortable semi retirement (already working 4 days) & early retirement & I'll leave an inheritance well into 6 figs. But - mathematically the DB funds will be in trouble if majority of members go down this route. So if you have this option & think its right for you, get an IFA & if they agree, do it ASAP. And don't fuss about the 5-10k fees, fuss about getting a good IFA. Remember the big picture!
  6. I don't - whipped £20K out of Icesave literally the day before they went pop thanks to the good folk on here. Also learned a LOT on here about property, investments, pensions, philosophy, behavioural psychology.. etc. etc.
  7. If we are prepared to pay enough for the development, manufacture, maintenance and cleaning. This: Will be replaced by this:
  8. Um. I'm going to do that before I die. Also, helping them to accumulate persistently valuable skills, knowledge & financial strength, including raising their kids in turn with that philosophy, beats leaving them a windfall in their 60s hands down. NB only 25% of mrs xux & my wealth in property. And that's let while we rent something smaller, so we are not exactly typical. But I still feel equipping your kids rather than enriching in late middle age them is the way to go.
  9. Of course even £150k would be expensive - £14,000 per sq Mtr would still be beyond ludicrous. Easy to find 1 bed 40-50 sq Mtr flats nearby for under £500k. This is either a complete waste of time or proof that there are incredibly stupid people about with way too much money.
  10. hotblack42

    I think the wait is over

    Agree with most of this but not "the bargain houses generally will never be the desirable houses" Admittedly only in relatively brief periods in recent decades, but further back there are times when desirable residences become cheapish to very cheap. 1930s depression, 1945-60, some of the 70s, 89-94, 2009-11. It looks like we have a chance of another window like this while Brexit beds in chaotically plus an EU/Recession. The trick will be to able to buy for cash, or low leverage and have reserves to maintain the property, pay high council tax or whatever. Friends bought a 6 bed Regency town house in Cheltenham in 1990 for £80,000. Only bidder in the room. Here is a similar property near theirs: https://www.rightmove.co.uk/property-for-sale/property-58096896.html
  11. hotblack42

    Halifax January 19

    If this happens for a year: 0.971^12 = 0.702 30% drop yee haw!!! As homeowners Mrs xux & I will suffer a 6 figure nominal loss, but our pension and savings as a multiple of the average house price would rocket (old codgers). For young adults reading this not yet 'on the ladder' (horrid term) - the buying power of your deposit & mortgage will also surge - keep your powder dry 😉
  12. Tusk is angry. People get angry when they are frightened.
  13. IIRC in the 88-89 Lawson spike the fastest monthly rise was about 5%. 6% off the combined valuation of all PCL properties is serious wealth destruction folks. Quick fag packet calc: Assuming 100,000 £2M properties, £12,000,000,000 has disappeared from the paper wealth of the richest few thousand families in the world. In 1 short month. This is on the back of a 20% drop from the 2016 peak. A lot of projects/new ventures/deals backed by bloated PCL property valuations will now be cancelled or put on hold leading to further downward pressure. Excellent.
  14. Think content. A bit like when you see a solidly constructed house behind clutter and tasteless decorating.
  15. Some tenants will do this. Others won't for a variety of reasons - renting suits their current circumstances, outbid by BOMAD backed youngsters currently living with parents, outbid by wealthy boomers comfortable with the 3% SDLT surcharge, etc. Its a complex socio-economic situation which will be very interesting for us to watch unfold. It will take long enough for other events such as an Italian banking crises or Trump impeachment to occur in parallel & really spice things up 🙂
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