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House Price Crash Forum


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  1. Oh no! Senior management might actually have to do their jobs for a change and increase productivity, rather than simply relying on cheap foreign labour and exporting their problems onto British taxpayers. I get angry every time I see a "barrista" coffee machine at just how incredibly inefficient they are (indeed they are designed to be, to make them look difficult to use and hence justify high prices!) - modernise them and you'd avoid the need for 10s of thousands of EU workers in London alone, at no sacrifice in coffee quality or service.
  2. I think London will most likely return to normalcy - however depends how gov manages it. There is a not insignificant risk of it entering a death spiral that many cities have entered in the past (Glasgow, detroit etc.). Boom time draws in huge number of people, when economy turns for the worst those more marginal new residents become 'undesirable' the more affluent flee to the suburbs/other cities to escape and the problem worsens. Given that wealthier London residents are more likely to be the ones able to work from home, the problem is even more acute now. Councils have to move quickly and be innovative to keep inner London attractive to avoid entering the spiral.
  3. The UK suicide rate is normally 11.2 per 100k (in 2018) so of the 3 million 'excluded' you'd expect 330 suicides a year already sadly, so 12 isn't an unusual figure. Not trying to diminish the terrible problem of suicide, but I just really find it distasteful campaign groups using suicide as a campaigning tactic like this even if I sympathise with their cause
  4. What investment banks do is the rank all their staff every year - and then at the junior levels the bottom 1/3rd get culled every year in an 'up or out' policy. The public sector doesn't need to be as ruthless, but for common job roles ranking is a really simple method to just keep the appraisals honest - no longer just saying everyone is 'good' forces managers to say who is better
  5. Yes this! There is still a definite 'time served' culture in the public sector which poisons the culture. The most senior and highest paid staff are simply those who've been there the longest. Removes any incentive for staff to 'rock the boat' with innovation or working hard, instead rewards you for simply keeping your head down and maintaining the status quo. At the same time means the brighter staff get tired of waiting for senior staff to die/retire so go to the private sector where they can progress faster leaving the upper echelons of public sector management even more starved of talent. I work in the railways and while notionally privatised, it is still 100% a public sector work culture and the amount of inefficiency and frankly laziness is shocking.
  6. Why do we go along with the assumption that people have the right to store private property on public land? I'm not allowed to go and store old furniture on the kerb outside my house - but I am allowed to store an old van full of junk. Why? If councils charged anything close to market value for parking permits it would solve the issue as developers would be forced to provide suitable provision if they wanted to sell. Instead they can just cram in more houses rather than provide driveways and push the cost onto the public realm. In Japan there is no on street parking and you actually have to show proof that you have off road storage when purchasing a car
  7. Everyone knows that commercial space will need to be converted to housing, and there is nothing wrong with micro-flats IF they are done right (good natural light and good soundproofing being too main requirements). However poor quality conversion of retail premises completely ill suited to it, is a worse than sub optimal solution. The ideal would be to demolish these buildings and rebuild higher quality, purpose built small flats. However the lack of regulations on conversions vs the high cost of planning permission of replacement is keeping the cost of existing buildings high and blocking the better for everyone option of demolish and replace.
  8. Is Hammond really the appointment you find most objectionable in the latest honours list? Really?!?
  9. Here's another one https://www.zoopla.co.uk/for-sale/details/51700974?search_identifier=39ac9417e8ff8126f75aa9689afd0824 Listed last June, 3 drops since, now well and truly into chasing the market down territory. Nice to see someone punished for their initial greedy listing price. A more realistic price to begin with and they'd have been laughing
  10. The franchise railway companies haven't taken a hit at all. They've been effectively nationalised under "emergency measures" government paying around £1bn a month to keep the empty trains running, operator profit capped at 2%. However the "open access operators" - Hull trains and grand central, could go bust any day now
  11. I think all the problems stem from so many people forgetting the true definition of inflation. Inflation is not rising prices, rising prices are merely a proxy. True inflation is declining purchasing power of the currency. In the latest decade we have seen incredible drops in the cost of energy through technical innovation, shale turning America from the largest net importer of energy in the world to a net exporter. Technologies such as wind and solar now meeting and exceeding price parity with conventional fuels. Incredible efficiency gains in motor transport with vehicles now pushing 70mpg unheard dof 10 years ago. However the public has seen almost zero benefit from these gigantic reductions in the cost of energy (and in the cost of all other products that use energy in their manufacture ie all of them). Such a reduction in cost of energy should have been a gigantic stimulus turbocharging the economy, but what happened? The answer is it has all been inflated away through declining purchasing power of the currency. However we haven't noticed because the price has stayed flat! Instead of turbocharging our economy via lower energy costs and boosted manufacturing all this economic gain has been siphoned off via low interest rates into asset prices and debt bailouts. Its criminal and yet no one in the mainstream seems to care... The problem is when the technical innovation driving down prices stops but the money printing continues... Central banks and governments will have a rude reintroduction to the ravages of rampant inflation and they'll now have to deal with it in the face of the greatest recession in modern history... Yay!
  12. I've done this in the past, maxed out 0% credit cards so I can fill my stocks and share isa to the limit for the year. One of the best financial decisions I've made. With the 0% interest, isa tax benefit and a very diversified and balanced collection of global tracker funds + long investment horizon means almost no downside. At the time I tried to push it further by taking advantage of some 1—2% unsecured personal loans. Over the phone they told me they wouldn't, but told me I should just say it was for a holiday... Thought it strange they advised me to commit fraud and also they'd rather me spaffing the money away than spend it on a low risk secured financial investment, but hey yo gotta keep those debt slaves slaves right! My main challenge though would be very difficult to get large scale debt at such a low interest rate, most leveraged trading accounts are very expensive. Only real way is to take the debt out on your mortgage... Yet more props for homeowners!
  13. Surely a wealth tax is deflationary, and it would seem mad for the government to confiscate capital from the public while at the same time directly pumping 'free money' into corporates via QE. Plus we all know they'll exclude people's primary homes from the calculation, screwing anyone prudent enough not to enter debt servitude to buy a house at overinflsted prices.
  14. Agreed we've had excellent and consistent results from Ukraine. India, never again! Don't underestimate the impact of timezones as well
  15. What do you think happens to savings? They are loaned out in investment, innovation and consumption... The question is whether it is better for central banks to inject capital directly into banks or directly into savers who then deposit in banks. Injecting into savers is more complex to manage (and big fraud issues) but has the benefit of not causing market distortions, savers will put their savings in the best banks - including innovative challengers that might not have access to traditional quantative easing.
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