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Up the spout

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Everything posted by Up the spout

  1. Thanks for your reply. I haven't put in an offer yet. Yesterday I had a third viewing with my brother-in-law who's a very experienced plumber/pipe fitter; he pointed out the lack of a certificate on a new boiler (he was otherwise impressed with its quality) and a slightly rotting sash window (I was aware of that already), but otherwise he thought the living quarters were satisfactory. He brought a ladder to look into the attic space and pointed out some small gaps where light was coming through, because some of the slate tiles had slipped a little - none were missing. On inspection from the outside we could see some work had been done on the more weathered side to correct some of the tiles (with some kind of thin metal inserts), whilst on the other side it looked as though patches of tiles had been replaced. We've had a lot of rain recently and the attic space was bone dry. He also pointed out that the insulation in the roof was way below code. The estate agent said she'd inform the sellers of all of his points and get back to us. The building is made with gorgeous yellow bricks from a nearby (Lincolnshire) quarry, and very dark grey slates on the roof, and reminds me of a mini version of Salt's Mill. I appreciate the risk in having one of the top (first) floor flats, where persuading others to do necessary work might be a problem. The person who put in the offer for the other first floor flat has also put in an offer for the flat below that one - possibly having a greater 'investment' than anyone else would encourage her to facilitate repairs (I'd always pay out if it was fairly done). Anyway, thanks again for your reply. None of my family members have bought a converted anything before, so we're taking all advice we can.
  2. First of all, sorry if this is in the wrong sub. I looked and there isn't one for estate agents. I'm thinking of buying a flat, one of four in a converted building. The blurb says once the last flat is sold, the "freehold of the whole block will be transferred into equal shares to the owners of the flats at no cost to them." My mum thinks this is very unusual, so I'm concerned as to why they're doing it. For background; the two-floor building of 4 flats was for functions, and it's attached to a smaller building which is now a single family house. The large pub and gardens (across a private road) which is selling those 2 buildings will remain as is. One other thing; I'm paying cash, so should I get a valuation done? Thanks in advance.
  3. "No, it won't." ~ signed by institutions and UHNWIs that own 95% of America.
  4. This is what TPTB relied on in the Scottish ref and the EU ref, as told to me by a prominent campaigner and business consultant/leader. "What could happen?" if the status quo changes prevents a lot of scared people voting for change.
  5. I watched a documentary where a professional gambler bought accounts off students. The accounts are always banned, eventually.
  6. Trump wants lower rates because he and his peers have hundreds of millions of debt. Every tweet (especially about Gyna) is aimed at destabilising the US economy, which if successful will lead to lower interest rates.
  7. What / Who will collapse first in 2019 I know what it won't be; housing!
  8. The 50-year below the 30-year doesn't mean much. It's saying growth is expected to be lower from 2050 to 2070. When the 10-year is yielding less than the 1-year or 2-year does it get interesting.
  9. For me the middle classes came in after industrialisation. You had the landed gentry becoming entrepreneurs (usually on the backs of scientists) employing workers but not wanting to have contact with the riff raff, so employed a foreman. As operations became bigger and more complex the departments multiplied with more riff raff requiring more foremen. Those foremen needed more than the bloke at the top and so a hierarchy in the company was introduced, with upper managers and a middle class was born. Adding to the middle class were new jobs such as accountants, lawyers, occupational therapists etc. De-industrialisation, automation, AI, and flatter hierarchies are all squeezing the need for middle managers and middle class jobs. Eventually, if you extrapolate that (if AI fulfils its promise), we should see the middle class jobs dwindle until they are gone and we're back to the landed gentry (owners) and riff raff.
  10. Caroline Takla, director of London buying agency The Collection, said: “Wah wah wah wah, boo hoo, my sales commission is going to go down!" Ah, diddums.
  11. That worked in South Korea, enabling them to avoid loans from the IMF and protect young companies like Samsung from international competition. I don't think lightning strikes twice but you never know.
  12. NIMBYs; "They've built ugly lock-ups for noisy undesirables which have really brought down house prices. DISGRACEFUL!"
  13. I had an S5 which fell apart after being dropped, so got a... Nokia? Anyway, got caught in a thunderstorm while motorbiking in Thailand so it was zapped. Now got an S8 which I'll use until it's dead (very pleased with it). Bought a 2nd hand (massive Samsung Smart) TV, no vehicle, Lenovo laptop which is pretty basic, a Fuji camera, some clothes and shoes, and some nice, cheap wall art. Happy to not have lots of stuff to replace when it - inevitably - breaks.
  14. The book 'Boom and Bust' written by Fred Harrison in 2005 proposed an 18-year property cycle in which he also predicted the 2007/08 crash using this model. The model proposes a four year 'recession' or downturn period followed by 7 years moderate growth and then 7 years higher growth (interspersed by a mid cycle wobble). The final two years are characterised by the 'winner's curse' with property prices rising exponentially prior to a crash. Following the crash in 07/08 we had four years of stagnant prices, since around 2011/12 moderate rises of around 5%. According to Harrison a mid term wobble should be approaching (2018/9?) which should be followed by seven years of significant rises up to a spectacular crash in 2025. Apparently this pattern has been playing out in cycles of 18-20 years for the last couple of hundred years!
  15. In my book that's worth opening a bottle of bubbly, although I would hesitate in actually buying a house.
  16. A couple of months of easing prices is hardly reason to celebrate. If we ever got to 25% off I'd open a bottle of bubbly, though.
  17. Any other significant differences? Let's see... Venezuela tops the Misery Index every year It has inflation of 500%+ The number of illiterate reduced from 1.1 to 1 million, the gov. boasted. They forgot to say that's because 100k illiterate people died. It's the only south American country where AIDs and malaria are increasing The Economist said Venezuela was "probably the world’s worst-managed economy"
  18. Thanks, that's exactly the info I was looking for. The tray issue is something I'm expecting, although I'll probably rarely use it as I'll just stick in a sim and memory card once (the ones I'm looking at have 2 sim slots and 64gb of memory). I'll be extra careful when on my jollies and putting a second sim in. What really attracts me is the waterproof rating. I've lost three smartphones to water, the latest a six month old Sony. It was in my pocket in a waterproof jacket, riding a motorbike through a tropical storm. It wasn't a high end unit so £200 was zapped, but still annoying. I'll wait for the G6 to come down in price when the new model is finally released.
  19. My Samsung S5 is all scratched up, cracked and buggered (excuse my French). I've been looking at the LG G6, anyone got one or views on them?
  20. A bonus for bumping up the portfolios of MPs and their kids' portfolios too. You've got be in the club to win. We ain't in it.
  21. A bit tricky in this day and age to forecast what's going to happen in the next five or ten years. Up to a few decades ago we had a few tens of millions of middle class workers in Europe, and a few tens of millions of middle class workers in the United States. Now we have hundreds of millions of middle class workers in India, hundreds of millions of middle class workers in China, and tens of millions of middle class workers in South America. Plus lots of billionaires in those countries and Africa and Russia. Globalisation has changed any model that was suitable as recently as the 90's, and had been 'the best we can do' for a long time.
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