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House Price Crash Forum


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Everything posted by Switch625

  1. It's a remarkably childish argument, always reminds me of badly behaved kids in a playground .... tragic.
  2. Decrying the impoverishment of a generation of younger people in this country by a select group that have manipulated a basic human need to further their own ends isn't jealousy. Laughing at those that have been unfairly disadvantaged by the unscrupulous actions of others is however fustian and conceited.
  3. The elite of the UK and other countries have systematically thrown entire generations under the bus to fuel their unearned lifestyles. These sanctimonious, Ponzi building, charlatans will cling on to the bitter end ....
  4. Nailed it @Pop321 and if previous recessions are anything to go by then you will see a lot more of it going forward.
  5. Sadly @steve99 you are quite correct about the use of shiny baubles to distract the masses, but that is a ruse used by all of our political parties. My take on this is that it isn't their malignant intention to hurt everyone else, they don't care if they do in pursuit of their own greed. Getting the thread back on track about the recession https://edition.cnn.com/2020/08/12/economy/uk-economy-gdp/index.html From the article. What we already know ... 'About 730,000 jobs have been shed since the coronavirus pandemic shuttered British businesses in March, with the young, the old and the self-employed bearing the brunt of the unemployment crisis.' And the future ... "The dual threats of a second wave and slow progress over Brexit negotiations are also particularly concerning," Alpesh Paleja, lead economist at the CBI And the impact on houses? https://www.bbc.co.uk/news/business-53755590 On the mini boom ... 'This will not last, commentators say, and over the coming months, house prices will inevitably fall on average, according to the government's official forecaster, the Office for Budget Responsibility.' On possible future falls ... 'It has predicted falls of anything between 2% this year, to 22% by the later half of next year. Its central forecast is an 11% fall by the end of 2021 and flatlining thereafter.'
  6. Corrected for you. I agree with you that the poorer in society (i.e. everyone else) are targeted, but in the twisted world view of such people this is regarded as acceptable collateral damage in pursuit of the goal of personal enrichment.
  7. Sums up my life at the moment. Zoom works fine until you actually need to do stuff quickly with a group of people, then its painful.
  8. So it did exactly what it was supposed to do. Nothing to see here. Move on!
  9. If the vested interests have to take a haircut then you know its crash on and you can't get much more establishment and VI than this man.
  10. Yes thanks @Roman Roady good work. Could the answer be as simple as London would be leavers are struggling to find would be buyers at the prices they need to not lose out?
  11. Apologies if this has already been posted; Redundancies triple as Furlough Unwinds https://www.bbc.co.uk/news/business-53644103 August 4: Dixons Carphone - 800 August 4: Pizza Express - 1,100 at risk August 3: Hays Travel - up to 878 August 3: DW Sports - 1,700 at risk July 31: Byron - 651 July 30: Pendragon - 1,800 July 29: Waterstones - unknown number of head office roles July 28: Selfridges - 450 July 27: Oak Furnitureland - 163 at risk July 23: Dyson - 600 in UK, 300 overseas July 22: Mears - fewer than 200 July 20: Marks & Spencer - 950 at risk July 17: Azzurri Group (owns Zizzi and Ask Italian) - up to 1,200 July 16: Genting - 1,642 at risk July 16: Burberry - 150 in UK, 350 overseas July 15: Banks Mining - 250 at risk July 15: Buzz Bingo - 573 at risk July 14: Vertu - 345 July 14: DFS - up to 200 at risk July 9: General Electric - 369 July 9: Eurostar - unknown number July 9: Boots - 4,000 July 9: John Lewis - 1,300 at risk July 9: Burger King - 1,600 at risk July 7: Reach (owns Daily Mirror and Daily Express newspapers) - 550 July 6: Pret a Manger - 1,000 at risk July 2: Casual Dining Group (owns Bella Italia and Cafe Rouge) - 1,909 July 1: SSP (owns Upper Crust) - 5,000 at risk July 1: Arcadia (owns TopShop) - 500 July 1: Harrods - 700 July 1: Virgin Money - 300 June 30: Airbus - 1,700 June 30: TM Lewin - 600 June 30: Smiths Group - "some job losses" June 25: Royal Mail - 2,000 June 24: Jet2 - 102 June 24: Swissport - 4,556 June 24: Crest Nicholson - 130 June 23: Shoe Zone - unknown number of jobs in head office June 19: Aer Lingus - 500 June 17: HSBC - unknown number of jobs in UK, 35,000 worldwide June 15: Jaguar Land Rover - 1,100 June 15: Travis Perkins - 2,500 June 12: Le Pain Quotidien - 200 June 11: Heathrow - at least 500 June 11: Bombardier - 600 June 11: Johnson Matthey - 2,500 June 11: Centrica - 5,000 June 10: Quiz - 93 June 10: The Restaurant Group (owns Frankie and Benny's) - 3,000 June 10: Monsoon Accessorise - 545 June 10: Everest Windows - 188 June 8: BP - 10,000 worldwide June 8: Mulberry - 375 June 5: Victoria's Secret - 800 at risk June 5: Bentley - 1,000 June 4: Aston Martin - 500 June 4: Lookers - 1,500 May 29: Belfast International Airport - 45 May 28: Debenhams (in second announcement) - "hundreds" of jobs May 28: EasyJet - 4,500 worldwide May 26: McLaren - 1,200 May 22: Carluccio's - 1,000 May 21: Clarks - 900 May 20: Rolls-Royce - 9,000 May 20: Bovis Homes - unknown number May 19: Ovo Energy - 2,600 May 19: Antler - 164 May 15: JCB - 950 at risk May 13: Tui - 8,000 worldwide May 12: Carnival UK (owns P&O Cruises and Cunard) - 450 May 11: P&O Ferries - 1,100 worldwide May 5: Virgin Atlantic - 3,150 May 1: Ryanair - 3,000 worldwide April 30: Oasis Warehouse - 1,800 April 29: WPP - unknown number April 28: British Airways - up to 12,000 April 23: Safran Seats - 400 April 23: Meggitt - 1,800 worldwide April 21: Cath Kidston - 900 April 17: Debenhams - 422 March 31: Laura Ashley - 268 March 30: BrightHouse - 2,400 at risk March 27: Chiquito - 1,500 at risk.
  12. It's a very short period covered by the graph so tricky to read much into it, but the trend looks like more supply. As the 'rampers' love to tell everyone its all about supply and demand, only if this trend continues they could well be on the wrong end of that equation.
  13. It will be interesting to see how many of these actually complete. Unless the buyer has a spare million lying around most will need to sell their old place(s) first and the big questions will be to who and for how much? Flats always seem to do particularly badly in a downturn and are likely to be relatively cheap as chips. Careful selection of a decent flat in a nice area could potentially be a good option. Personally I would avoid most developments like the plague.
  14. It's only an offer so far, nothing legally binding so you can pull out if you want. No harm, no foul, of course you won't be using that agent again, but no great loss. No one knows what's really going to happen. There are too many variables and the market is far from rational thanks to years of government interference. For what its worth I think its got a way to go yet, so I am sitting tight. But then again I could be wrong. I have made peace with it. If I am right, I won't celebrate too much and if I am wrong it will cost me a bit more but I won't berate myself too much either. Whatever you do. Make a decision you alone are happy with. Good luck to you
  15. No worries @Neapolitan he has to be praying for house price inflation or at best he has a millstone round his neck for the next 20+ years or he is toast.
  16. I can almost hear the sound of them hitting the mat, followed quite quickly by the sound of the landlord hitting the floor when they open the letter.
  17. Have to agree with you, my calculations were around £1,600 pa but let's not quibble. I make that less than a 4% return on his capital investment which is far from spectacular, particularly when the risks are considered, which he would appear to have ignored, or to be oblivious to. Oh my lordy lord. I have just watched the second video, he hasn't said how much the renovations cost, but he has been quoted £2k for a new fence. Two grand! (fairly sure my old man and I could do it at a fraction of the cost in a day or two if we took it easy) By my calculations that's his entire profit for the first year gone, even by his own dubious figures it's more than half. So current return on his 'investment' is running at 0-2% at best. I also notice that he was going to provide another video next week covering the full financial details and that has not materialised more than a month later. Perpetual HPI was the only thing that has kept the vast majority of such people solvent over the last few decades. Let's see how that works out for them in the years ahead ....
  18. I've heard this one too and have to agree that it may reflect the truth of the mater for some people. London commuters must have saved good sums on travel alone (could easily be thousands) and were probably also splurging money on expensive cafes etc. But what about the people who didn't commute into London? The average unsecured debt per household in the third quarter of 2019 was an eye-watering £14,540. https://www.tuc.org.uk/news/unsecured-debt-hits-new-peak-ps14540-household-tuc-analysis I can't see a few lattes not being purchased making much of a dent in that figure, but it will seriously impact the hospitality businesses those people used to frequent. That level of debt coupled with low levels of savings for a 'rainy day' leaves the average family very poorly prepared to cope with the loss of, or even a reduction in household income.
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