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MissOnAccomplished

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About MissOnAccomplished

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  1. "The star initially took out a mortgage with the bank Coutts, and then went onto transform the Surrey pad with new facilities such as a hi-tech gym, a dreamy walk-in wardrobe, and a terrace overlooking the idyllic gardens." Maybe she overpaid at about 900 in 2009 and then spent another 300+ doing 'improvements'. Such expenditure might have been worth while if she were going to live there a good long time to get the benefit, but anyone else is likely to value them at 0.
  2. If the vendor thinks it will only cost £54,000 to extend the lease, I wonder why they have not so extended it. At the very minimum, I would want to see an estimate, if not an enforceable quote, from the freeholder.
  3. Isn't it annoying when (newspaper) articles do not have a clear 'publication date' . It's only when you read down to discover this was about 2004 onwards!
  4. We do tax turnover. That is exactly what VAT is. Of course, much of Sainsbury's output is zero-rated, and so we do not tax that part. But Ebay charges VAT on its commissions collected from UK customers, FB on its UK advertising revenue etc. Who bears the tax is another question though. If the demand for what the US tech companies are selling does not shift because of the higher price, then the tax is indeed borne by the customer. But if that is the case, why are they not charging their customers more? Therefore, is it not reasonable to conclude that at least in part, VAT is borne by suppliers?
  5. I think you are too pessimistic, nome. I haven't done detailed statistical analysis, but it seems to me that most recent replies are from those reporting (boasting) how much they paid less than asking price. And some healthy discounts being reported - up to 20%. The more that it can be seen as 'normal' that transaction prices are 20% lower than asking prices, the better.
  6. Apologies - hit the wrong button - why can one not edit posts? ******* agreed. Am additional reason: final salary schemes make sense when you expect to work for the same employer throughout your working life (or are, at least, part of the same pension scheme) but if this is not the case, younger workers are likely better off with DC schemes . It is not difficult to show that if one assumes: 1) real rate of return of 3% (as was available for many, many decades) 2) contributions from age 20 to 65 3) life expectancy of 20 years after retirement 4) pension to be 67.5% of final salary for 45 years of contributions (i.e. 1.5% for every year of service) 5) no growth in salary in real terms then the scheme can be funded with contributions (employee and employer combined) at approximately 12% of salary However, to fund an extra year of pension benefit (1.5%) for an employee who is just about to retire is clearly greater than the cost to fund an extra year of benefit for an employee who is only 25. (the cost is approximately 23% of salary for the 65 year old and 5% for the rookie.) In effect, the young are subsidizing the old (what a surprise!) Such subsidies might be acceptable if the young can be certain that they themselves wil still be within the scheme at age 65, and hence will benefit. In recent decades (maybe starting in the 1970's) such lifetime employment prospects are unlikely and it was economically beneficial for young employees to take part in DC schemes where the same overall contribution (the 12% of salary) could, in effect, be paid into a portable scheme. Furthermore, if folks (1) get big promotions shortly before retiring - e.g. military/police - or (2) work boatloads of overtime - e.g. some firemen and other unionized jobs - to jack up final salary without there having been a commensurate increase in contributions, then the 12% funding level will likely prove to have been inadequate.
  7. agreed. Am additional reason: final salary schemes make sense when you expect to work for the same employer throughout your working life (or are, at least, part of the same pension scheme). It is not difficult to show that if one assumes: 1) real rate of return of 3% (as was available for many, many decades) 2) contributions from age 20 to 65 contributions to the scheme (employee and employer combined) are fixed at at a constant percentage of salary, then contributions of approximately 12% of salary
  8. Sorry about quality of picture - should be: Price Change History 20/08/2019 Price Changed: £435,000 £425,000 18/05/2019 Price Changed: £450,000 £435,000 11/04/2019 Price Changed: £460,000 £450,000 07/04/2019 Price Changed: £490,000 £460,000 14/02/2019 Price Changed: £500,000 £490,000 21/12/2018 Initial entry found.
  9. Oh dear, what a shame, how sad. This one was purchased for 357.5 in Feb 2018. ( https://www.rightmove.co.uk/house-prices/detailMatching.html?prop=46109550&sale=6791509&country=england ) It is true that it now looks better than it did - though they have not even changed the kitchen sink. 18 months' interest, insurance, renovation costs, legal fees, and I suspect the profits on which they had grand designs will be smaller than anticipated. https://www.rightmove.co.uk/property-for-sale/property-69106585.html
  10. And even these statistics are pointless. E.g. GDP per capita in Ireland is high because of a few tech comapnies - including Apple - running their non-US operations through a holding company that is treated as part of the Irisih economy. Huge profits are recognized in the Irish subsidiary (rather than in France, Australia, Japan) because the taxes payable by the (e.g.) Apple Group of comapnies is lower thatn they would be if profits (and hence contributions to GDP) were recognized in the countries where the final consumer sale occurred. However, the impact of these profits recorded by Apple Ireland is negligible on the overall welfare of the people living in Ireland. I seem to recall that using a metric such as "Gross National Product per capita" might be better - but I suspect that measure has its own problems too.
  11. Here's another. I also feel sorry for the vendors here (possibly the Church of England). Started off at 650, now 25% off. At least the vendors now seem to recognize the reality of the situation - head in the sand for a year but now regular reductions month by month (5 in the past 5 months). By any objective measure (cost per sq foot perhaps) this house does not seem overpriced to me - but who wants a 10 bedroom house in that location and in that condition? https://www.rightmove.co.uk/property-for-sale/property-54227226.html
  12. When will these people learn? Nothing similar on the street sold for more than 190 - but they start off - 18 months ago at 263 (a mere 35% higher) and drop slowly. I'll give them a bit because it's end of terrace, but even now, they are asking 230. At this rate of recognizing the problem, it will be 2022 before the asking price is realistic. Oh well, I guess you can't fix stupid - or greedy. https://www.rightmove.co.uk/property-for-sale/property-64400263.html
  13. Slow and sure wins the race: https://www.rightmove.co.uk/property-for-sale/property-73109123.html
  14. on Rightmove, afaik you have to use Chrome browser and then one of available extensions; Property Tracker https://chrome.google.com/webstore/detail/property-tracker/abgkpdjomdmemeefdefalbeogkmlmand?hl=en-GB or Property Log https://chrome.google.com/webstore/detail/property-log/jccihedpilhidcbkconacnalppdeecno I also have another, called Home Buyers! - but I cannot see the download is still available. Maybe it does not work any longer.
  15. She bought it 20 years ago! Presumably for far less than it is worth now. Hard to see that general inflation in wage rates would not mean that her earnings would have increased more than the mortgage payments - so she should have been able to pay off the loan. So how come she is struggling with a mortgage - given that interest rates now are far lower than they have been in the past? Are Aussie mortgages more like UK mortgages (25 years at variable rate) or US mortgages (30 years at fixed rate but with no prepayment penalty if rates move lower)? Maybe she is deserving of sympathy and there is a reason why my suppositions are wrong. Or maybe she has taken out equity loans. Reports that do not make clear what is happening fail in the ir fundamental purpose - to convey information to an audience and help it understand the situation.
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