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About rockerboy

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  1. rockerboy

    I think the wait is over

    yep you may have a point. But I don't see Brexit as a cause, more a lubricant in Foreign companies exiting the UK. The real problem is that the EU has busied itself completing significant trade deals (Canada, Japan etc) while the UK appears just to "fart in its own bathwater" with everyone else looking at our naked leaders through cracked fingers open mouthed at the incompetance. However, when you look back over UK history, it is littered with happy happenstance, where the UK, while woefully underprepared was Sh*t lucky when it mattered most i.e. when confronted by a more skilled opponent with superior capabilities but badly managed. A good example of this is Radar in 1940s (true story!) - The guy who built the system selected the 3rd technical option "because it cost the least, was easier to implement and quicker to get up and running". However, this option was based on using the mains frequency to co-ordinate things. The British Radar system used simple high powered pulses using a power transformer. At the begining of the war, German spies flew near the UK in a zeppelin to try and find out if we had Radar. All these airbourne spy technicians could pick up was "mains hum" and they thought it was a problem with their equipment - The Germans simply couldn't believe that our radar was as technically sh*t basic as it was, and so they reported we had no decernable radar. I guess sometimes it pays to be underestimated - but in the context of Brexit, I don't see the UK constructing ANY sort of radar at all
  2. rockerboy

    I think the wait is over

    Pretty sure we are ALL going to have an almighty *Bang* soon - and I don't think it's directly related to Brexit either. I'm seeing almost all major manufacturing wanting to exit the UK - there's no jusification for a UK base any more - especially if that company wants to supply the rest of the world. Heck, even supposedly British companies like Dyson are leaving. House prices will fall - and deep - but I'll still keep being a home owner. If I was younger and able to leave the UK , I would do so - probably go to US, Canada or Australia, but certainly not the EU with its with is enforced "democracy" and the resulting huge civil unrest - Yellow vests scare the crap out of me
  3. Why is the deal on offer considered "the only deal on the table"? Its only an "exit" deal after all, and the UK is still supposed to agree a new trade deal to replace this temporary "exit" one. But thats the things isn't it? The backstop in this deal has always been designed from the outset for one thing - to permanently hook the UK to Europe so that Scotland and Wales can use the legal precedence to break away from the UK. The EU have no reason to allow the UK to leave, and they will never grant an exit until the UK is dismantled - and that is why the EU will never allow the UK to change things - the backstop is not for peace - it is a political weapon the EU fully intend to use
  4. rockerboy

    I think the wait is over

    Having gone through this when last parent passed away - I can say that it doesn't happen like you think. There is a reason why obituaries are read / Builder types getting the first nod from their EA mates. When dealing with probate, the house had letters pushed through the door offering to buy it at a discount - and yes - we did sell it to one of them - because none of us wanted to keep it - the house was in such a poor state of repair. It was ideal for a builder to buy and make money on. It doesn't take a rocket scientist to realise that OAP homes are rarely in pristine condition when they pass.
  5. Bad call by Tusk - His comments are a veiled threat to every man, woman and child in the UK and he scares me. But this is the thing - none of us can ever vote him out, or anyone else that follows him - That scares me more
  6. rockerboy

    And it's about time too...

    Yes - you could say for the majority in each country in the world, we're all in this together - a global race to the bottom wage, all thinking we're different and can briefly stop the tide."just for me" ...Meanwhile global business continues to go for lower cost. Not sure what to think about the "near-communist" lines comment. Is it something we should aspire to be controled by or avoid?...Hmmm...For me, "near-communist" is a term that describes a system more "totalitarian" than we currently live under - pretty sure none of us want to go in that direction (unless of course, you are a communist )?
  7. rockerboy

    Is inequality growing?

    Is inequality growing? If you can ignore the ludicrously increased wealth of the super wealthy and the absolute poverty of the homeless, then you could say inequality is narrowing - the middle band is equally f*cked
  8. rockerboy

    And it's about time too...

    That may have suited him, but the effect you describe only makes business consider this sort of thing https://www.standard.co.uk/news/uk/dysons-decision-to-move-head-office-from-uk-to-singapore-nothing-to-do-with-brexit-a4045931.html If you want to buy a house, house prices have to reset and homeowners will have to be forced to sell when they don't want to - or - there is massive home building scheme (ain't going to happen)
  9. rockerboy

    Realistic House Price Calculator

    I think people are trying to tell you something.....
  10. rockerboy

    Nearing the end of my sanity..

    There are only three rules when investing. 1) Never lose money 2) Never lose money 3) Never lose money IMO, you are highly leveraged with your savings "all on red" - Don't ever bet the farm unless you really have to If you haven't lost money, cash in your Bitcoin, pay off some of your debt and smile, never look back If you have lost money, cash it in now, pay off some of your debt, wince and don't look back Either way keep the mortgage payment up at £1600 per month and pay off the mortgage early - you will live longer and happier.
  11. rockerboy

    Nearing the end of my sanity..

    Thats all that counts in the end - I hope it keeps that way for you. Everyone is free to work things out as they see fit, but you may benefit from advice on how to minimise your tax? After all , if you haven't used your last three year's pension contribution allowance, you can roll it all up into one contribution for this year. For example, paying a mortgage of £1600 means £30K is being knocked off your Gross salary (because of 40% tax). If you can clear the mortgage debt, surely you are better off commiting a gross £30K each year from your normal salary into a pension wrapper? (I'm thinking it would cost the same as your £1600 a month and remain in your Gross pay limit) After 3 years, you have a house fully paid for AND you woudl have put the equivalent £100K back in Bitcoin (If Bitcoin stays at the level it is now). Its nice to have options, would be interested to know why you don't do this? Its all about minimsing tax - and I can't help feeling you are unneccesarily paying shedloads of tax and debt interest rates every year - why?!?
  12. Whilst you are of course correct, I read this as a trend of the wealthiest (older generation) getting more wealthy . If you consider that the majority of BTL properties are mortgaged by the over 50s (Sometimes, they have no other mortgage), I think there is a clear problem here. Any future government will have to step in to stop this wealth gap across the generations getting worse - hence why I think Teenage/Granny flat properties will be exempt from the more malign tax increases that are inevitable. After all something has to be done to address this. This trend has happened all because people are now living longer. It used to be that a large proportion of people died a few years after retiring after a life time of poor food / smoking / working in toxic enviroments etc
  13. Thanks for the link - very interesting. I think future governments already have ideas on how to drain the wealth of the older generation e.g, retrospectively charging nursing and health care on the estate after death. Because it will become difficult to transfer wealth, I've always thought that properties with unofficial teenage/granny flat potential are going to become very valuable indeed - thats why I bought such a property. Will have to wait and see if true ;)
  14. rockerboy

    Nearing the end of my sanity..

    +1 In my case (NW) the figures are roughly - Had house with substantial equity, but with after living there for 4 years, we had spent about £150K on "improving" it. The mortgage unexpectedly rose to £200K, so we downtraded to another house with no mortgage. In those four years, the house had gone up by £330K - Both houses decreased in value, but I guess current house decreased about £75K less - Cost of renting similar to what I have over 10 years, would have been spending about £150K (Note - one has to pay this after tax) - Opportunity cost loss of investing - lets say about £100K In the end, I moved and my monthly income went "up" £1K (after tax) - With the increased spend available, I increased my pension to get the tax back and the pension pot increased far more over ten years (in a tax free wrapper) than I ever could have saved. However, this is the rub, I still don't have enough pension to what I would have liked. You're always caught one way or another.....it seems to me that all this financial plannign stuff is all about being "caught as less as possible". No matter how you look at it - For most people, buying a house is always the biggest investment one ever makes and whilst its wise to think about it in this way, you still have to live somewhere The biggest thing I have learnt in all this - NEVER BUY A HOUSE THAT NEEDS SUBSTANTIAL MODERNISATION UNLESS YOU DO THE WORK YOURSELF - in the rising market up to 2007, I would have made more money just buying and selling a more expensive house - all with a lot less stress of having builders in! Its the system we are in - its not fair - and its a lot of luck.......I'm just glad I don't have to think too hard about "Pworoty" anymore and feel I had a lucky escape TBH. One could say its about buying property at the right time, but I would say its more about selling property at the right time. Is it the right time to sell ATM? probably - but I don't want to think like that unless something really really big is going to happen.
  15. rockerboy

    Nearing the end of my sanity..

    Agree, but for me I would say the underlined can means you have to factor in the following - What you want to do in life (NOT housing related) - Your lifetime investment strategy - How long you are going to stay in the area - How much equity you have to put down - Current house price multiples - Interest rates - General economy. I am very lucky, I now have savings and a house with no mortgage. This means I look at the "dead money" argument more as "cash flow". If I was forced to look at it financially, I suppose I'd look at home ownership as being one part of a varied portfolio of personal investments. It is the biggest investment I have and it is the only one which has a direct effect on my life - I live in this investment and don't have to pay rent. Day to day, I no longer worry much about its potential financial loss in the future, I just get on with my life. Each month I can decide afresh what to do with the extra money I have available, simply because "life" costs less when you don't pay rent. I like to look at this as something that will continue for the many decades I have left on this planet. After my demise, I'm sure we can all agree that the money will truely be as "dead" as my mortal remains, but until then, I will always look at renting as something that can only temporarily be of financial benefit. I now look at this "dead money" thing as something you can only measure in hindsight, and I think that is why so many old people spout it. For some reason, nothing has happened to break that pattern (but of course, that pattern could be broken with war / famine etc). For me, the "House" question is similar to the "Pension" question. It is only when you are near retirement that you realise the wisdom of proper pension planning, the foolishness of not doing so and the wisdom of having a house paid off as early as possible because you enjoyed the extra cash flow and tax free HPI. I too am a long time lurker, but my account was caught up and removed during the great purge 10 years ago along with all the others that didn't agree the crash would be severe. However, I still drop in on this site because I am forever grateful to the posters on here who foretold the credit crunch. Who knows, someone might give another heads up (but TBH, I don't think it will happen again). The biggest mistake this site made, was removing many of the other members who had real insight. I always advocated that houses woudl never drop more than 30% and so I decided to downtrade in 2007 and eliminate the mortgage with a cheaper property (deleveraging). Did I make the correct decision? for me yes - but more for family contentment reasons - however the financial benefit was nice too (N.B. This was in the NW , but if I had been in London, the "correct" thing would have been to hold on and not deleverage) This is not a brag - it is more about what others have also said. For me, it is about how we all have to be careful that we measure the value of things and not their price, and this should be done whatever the age of the person

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