RickyD
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Gold strategy in the current economy
RickyD replied to Lepista's topic in House prices and the economy
'Commodities attract biggest bets since 2009' https://next.ft.com/content/fae62348-5a61-11e6-9f70-badea1b336d4 (behind a pay wall. Search for it in google if you can't see it via the link) "... while gold has shone in the wake of shocks like the Brexit vote and uncertainty about the outcome of the US Presidential election." -
Will The Boe Cut Irs On Thursday?
RickyD replied to The Masked Tulip's topic in House prices and the economy
How much influence does the PM actually have over the BOE ? -
Will The Boe Cut Irs On Thursday?
RickyD replied to The Masked Tulip's topic in House prices and the economy
I quickly jotted some notes down as Mark Carney replied to a question about Savers.. "It's something we think about a lot.. people who set money aside... returns are very low.. and likely to be low for some time.. which is the same for other advanced economies. we need to get the economy in position to grow at a higher rate.. those decisions .. structural decisions.. are made by governments.. so that we can adjust faster .. and in a better way.." -
Will The Boe Cut Irs On Thursday?
RickyD replied to The Masked Tulip's topic in House prices and the economy
This morning, the media seems much less sure of a rate cut.. -
Will The Boe Cut Irs On Thursday?
RickyD replied to The Masked Tulip's topic in House prices and the economy
Apparently a rate cut is now a foregone conclusion... http://www.bbc.co.uk/news/business-36962059 -
Tactics For Lowering Our Offer
RickyD replied to RickyD's topic in All about buying, selling and mortgages
I don't want to be too specific, but it's one of the villages quite near Cambridge. We were also considering Ely, which is also showing a few price reductions and properties coming back on the market. -
Tactics For Lowering Our Offer
RickyD replied to RickyD's topic in All about buying, selling and mortgages
I have noticed a definite change of mood since Brexit around my way. Before we put in our offer, anything half decent around here was selling within a week or two. Now, it's almost stagnant. I'm also seeing a lot of properties that were "sold", back on the market. There's quite a few reductions too - a couple of places slashed off £20,000, a few others £5-10k. -
Aren't the Premium Bond prizes calculated from current interest rates anyway? Does anyone else get the feeling that there is more than meets the eye regarding Media reports on rate cuts/rises. i.e. to see how the market reacts? or perhaps they are used to exacerbate the effect of doing exactly the opposite of what is reported? From memory, it seems to me that even when reports confidently predict an interest rate cut/rise in the UK or US, quite often it doesn't happen. Anyone like to hazard a guess if the UK rates will be cut this Thursday? I'll stick my neck out and say that they will again hold them at the current rate. But it is with very low confidence that I make this prediction.
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Apologies if this has already been posted. The media are once again reporting that there will likely be an interest rate cut on the horizon. https://www.theguardian.com/business/2016/jul/31/uk-interest-rates-set-to-be-cut-bank-of-england-growth-forecasts
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What Can The Government Do About House Prices?
RickyD replied to AndyFTB's topic in House prices and the economy
I would start with: Slowly, but surely, increase interest rates back up to 2% Significantly increase tax for foreign buyers (something like 15% - 20%) Require larger deposits and increase charges of acquiring buy-to-let mortgages Increase taxes on profits from renting out property Increase stamp duty exponentially for each subsequent property a person buys Enforce that house builders must build a certain percentage of affordable homes as law -
Vancouver Announces 15% Tax For Non-Resident Buyers
RickyD replied to mubes's topic in House prices and the economy
https://www.theguardian.com/housing-network/2016/jan/14/mp-landlords-number-risen-quarter-last-parliament-housing-bill Indeed, they have no interest in diminishing the price of something they are invested in. It still makes me mad! -
Vancouver Announces 15% Tax For Non-Resident Buyers
RickyD replied to mubes's topic in House prices and the economy
The Singaporean Government added a 15% tax on residential property for foreign buyers in 2013 and it did indeed have the desired effect of cooling the market. Click on the 10Y or Max and you can see what I mean: http://www.tradingeconomics.com/singapore/housing-index It makes me mad that the UK hasn't introduced anywhere near enough taxation on foreign buyers. -
When Do You Expect To Buy?
RickyD replied to streamingfreedom's topic in House prices and the economy
> Your own market sentiment from buyer side seems to have cooled quite a lot. I am a long time lurker of this site, and have been expecting (and waiting for) a crash for many years.. but it never came. I expected us to stay in the EU and house prices to keep on climbing.. or at least staying roughly the same (in my particular area - a popular East Anglia village with very good transport links). With a 15 year mortgage, my monthly payments would have been less than my current rent. So I, reluctantly, decided I couldn't wait any longer and decided "to hell with it" .. But then Brexit happened... and I really think this marks a turning point (not the cause of a crash, but the nudge that we needed). There is now more bearish news regarding UK house prices than there is positive news.. which is a first in the years I've been paying attention.. -
Tactics For Lowering Our Offer
RickyD replied to RickyD's topic in All about buying, selling and mortgages
Spunko - Yea! It's ironic really - I'm the one who's been telling everyone there's a crash coming (for the past 5 + years), and I (almost) bought at what looks to be the peak! SteelCat - Thanks for the advice. -
When Do You Expect To Buy?
RickyD replied to streamingfreedom's topic in House prices and the economy
Round my neck of the woods (a village in East Anglia), in the last 3 years I have seen something like a 20-30% increase in house prices. I would jump in at 2013 prices, but I am hoping to see them drop more. -
Ely House Seller's Struggling To Sell After Brexit
RickyD replied to RickyD's topic in England - East Anglia
I didn't mean Brexit was the cause.. The cause of insane property prices is a myriad of things.. prolongued low interest rates, the BTL brigade, low tax on foreign buyers, not building enough houses, etcetera.. What I meant was that perhaps the current uncertainty due to the Brexit will be the catalyst to start bringing prices down.. -
Ely House Seller's Struggling To Sell After Brexit
RickyD replied to RickyD's topic in England - East Anglia
> EVERY HOUSE IN THE UK WILL SELL Indeed. I'm particularly interested to see what effect the uncertainty of the Brexit has on house prices in Cambridgeshire. Interestingly I have 2 landlords (they both own half of the property), and one of them says house prices won't drop because it's Cambridge and the other says a crash is due. -
Did anyone listen to BBC Radio Cambridge this morning? A woman was describing how she was having multiple viewings before the election, but after Brexi she's only had 3 viewings and is struggling to sell. She was selling a 3 bed semi-detached (I think), at £275,000. An estate agent also admitted that the market has been slow for the past few months and prices would be coming down, although he framed it as a temporary blip and that they would continue to rise in the long term.