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House Price Crash Forum

Greater Fool

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Everything posted by Greater Fool

  1. Serco must be very generous paying for all those things themselves.😂
  2. I call this an example of the kind socialism of a we have now. https://news.sky.com/story/record-number-of-britons-receiving-benefits-that-amount-to-more-than-they-pay-in-tax-study-finds-12793349
  3. Where does all this money come from to give 10s of millions of people a hefty 10% pay increase?
  4. Why aren't all the 30 million odd working people getting a 10% pay increase because benefits are going up? I don't think it works like that. Maybe because a 10% increase in benefits and pensions is a lot less than a 10% pay increase for millions of people.
  5. https://www.telegraph.co.uk/business/2023/02/15/china-offers-mortgages-80-year-olds-effort-prop-housing-market/ China offers mortgages to 80-year-olds in effort to prop up housing market Increase comes after Xi Jinping loosened the country’s zero-Covid restrictions China is offering mortgages to borrowers as old as 80 as lenders scramble to prop up the country’s beleaguered housing market following strict zero-Covid restrictions. Several lenders across the country have extended their borrowing age in a bid to stimulate growth after property investment slumped by 10pc last year, the first drop since 1999. Sales of residential property fell by 14pc in January compared with a year earlier, according to data from 40 major cities compiled by China Real Estate Information. The age limit has increased from an average of 65 to 70 years to one of the highest in the world – the UK in comparison has a typical maximum age of between 65 and 70 years. For example, a 50-year-old home buyer can now get a 30-year mortgage. Under the previous rules, the buyer would have had to be under 40 to get a similar mortgage. It comes after Xi Jinping loosened the country’s zero-Covid restrictions for the first time since the pandemic hit following nationwide riots in protest over the rules. Bruce Pang, chief economist, Greater China at JLL, a real estate services company, said: “We think this is one of Chinese banks’ latest moves to revive the hard-hit property market, with tailor-made terms and creative solutions to attract more mortgage-seekers. “Chinese leaders have reiterated that the property industry remains a ‘pillar’ of the economy. And we think the Chinese government will continue to implement measures to stabilise the property market, to improve expectations, to ensure the delivery of residential buildings, and to meet the reasonable financing needs of property developers.” Evergrande Group, one of China’s largest property developers, has been at the centre of the country’s property crisis owing over $300bn (£248bn) in loans. Analysts at UBS estimate that China’s real estate slump will cost the nation’s banking system as much as $212bn (£170bn) in losses on loans, bonds and other assets. Meanwhile, the country's slowing economy is likely to be exacerbated by its shrinking population which dropped by 850,000 to just over 1.4 billion in 2022, according to the National Bureau of Statistics. It was the first decline since 1961 - the last year of China’s Great Famine China’s birth rate contracted to its lowest rate on record with only around 6 births per 1,000 people, down from just over seven births the year before.
  6. When I was a boy I had dreams of working hard, getting a good job, then renting a shed at the bottom of a stranger's garden.
  7. How were the Tories going to reverse HPI or even put the lid back on the Genie bottle in 2010 after the BOE were made independent? Ken Clark would never have done what Brown did, which effectively brought about the end of "cheap" housing in the UK forever. I personally knew 21 year old graduates buying their first homes in the Greater London area back in 1996.
  8. It's stupid to believe that lefty governments can't preside over large increases in the costs of living with their incompetent policies, when at the same time they claim to be on the side of the working classes and were voted in to do the opposite. Reminds me of NuLabour who managed to double or even treble house prices in a few short years with their interest rate policies.
  9. There are is no shortage of people willing to listen to what he has to say though, Rich Dad Poor Dad has been the No. 1 selling finance book in the UK for years. The UK equivalent of a condo is just a cheapo flat or run down terrace.
  10. But Robert Kiyosaki said I could get rich buying rental condos with no money down.
  11. This is true and something a lot of people haven't cottoned on to, their derisory DC private sector pensions will have to be drawn down to just about keep them going from their mid fifties to when they get their derisory state pension. Welcome to life in the UK.
  12. There's another telly on the wall above his head, which is strange because how can he watch it sat there? 🤣
  13. Install a bucket and hey presto a pay to use toilet, will be ideal for Amazon drivers, Deliveroo cyclists, desperate builders etc. etc. Or some hipster will try to use it to sell coffee and breakfast cereal. Either way sounds like a greater fool investment, flog it to someone else after a couple of years for 50k innit.
  14. Damn the rest of the universe for not rearranging itself to suit them buying their "forever home".
  15. I see plenty of Boomers driving round in them. "I'm doing my bit for the grandkids".
  16. The used ICE car market will go ballistic as the 2030 deadline approaches, you read it here first. Don't leave it too late to replace your ICE car for a newer one.
  17. They don't have any, haven't you realised that yet?
  18. The NHS IS importing nurses and doctors from India and the Philippines.
  19. I like who they didn't bother cleaning up the rest of the boundary wall to match the new brickwork, also all the weeds left growing up through the paving which is all over the place.
  20. Because the height is limited to the surrounding houses and they can have 3 floors, with the top floor not having a sloped ceiling in the roof.
  21. The "environmentalists" are p*ssing in the wind, in the relative short term we'll all be dead anyway, given a long enough timeline we'll be in another Ice Age and most of the UK won't even be inhabitable. If BEV was so great and superior to ICE no one would need to be "forced" to buy them, and they would gradually take over from ICE anyway, why the obsession with trying to do things in a very short time frame just for ideological reasons?
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