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Discustard

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Everything posted by Discustard

  1. I expect it's all three. They probably had some big mansions go through the books this month and/or fewer lower end sales than normal. The low activity levels mean that outliers will throw the average off more than in 'normal' times. We all know what's really happening, people are sitting tight because they don't want to sell until the market 'recovers', i.e. 10% HPI per year. What few things are coming on to the market are still getting sold fairly quickly, but affordability is maxed out so there isn't much scope for HPI unless the government pumps the bubble a bit more. Until there is a wave of forced sales from a recession I don't see it changing.
  2. I agree, over the past 6 months it seems like there has been a 'to me, to you' type thing between Halifax and Nationwide where they take it in turns to publish 'good' then 'bad' figures, so there is always some good bubble data around for the Daily Express TO PRINT. We're now seeing both indices and reports very downbeat, but of course the Express is printing stories about one street in Wiltshire where prices are STILL set to SOAR.
  3. I've been a developer since the days when the primary research resource was several bookshelves full of thick ring--bound manuals and 'Foo Programming Revealed' books. Back in the late nineties we were just getting routine Internet access in the office, but it was still looked upon with great suspicion as at best a timewaster and at worst something likely to have us openly masturbating at our desks. My development manager at the time was mid-30's, looked mid-50's and cultivated a kind of affected old-school MIT-hacker persona. He straight out told us we were not allowed to use the Internet for work queries and pointed at the bookshelf - that is what they paid the MSDN subscriptions for etc. Thankfully he was fired not too long after - well he was told he wasn't a manager anymore and he felt strongly that this was incorrect, so he left.
  4. According to the December data London is +0.1% on the month, -0.6% on the year. Not quite the ~15% drop as with your initial asking price to sale price but still a drop. Don't know why it shows any rise at all between Nov & Dec but I don't really trust any of these indexes anyway.
  5. This was released this morning, not seen it anywhere. https://www.gov.uk/government/publications/uk-house-price-index-summary-december-2018/uk-house-price-index-summary-december-2018 Month-on-month for Dec was +0.2% Annual rate at +2.5% Both heading in the right direction.
  6. Our government have said that there will be a minimum 30k salary requirement for anybody coming in, EU or elsewhere. They have also given strong indications that this will be reduced, or might even start at less than 30k to begin with. If it's brought in at 30k, industry will cry that they 'can't find the qualified staff' and it will be reduced enough to make it meaningless.
  7. How can you buy in 2007 and be in negative equity now? We are just off all time high prices, certainly recovered from the crash and more. If they have kept up payments on the interest-only mortgage they should be able to sell up and just call it square (at least).
  8. That's another thing, I hadn't even considered student debt. I was lucky enough to go to Uni early nineties so I came out with only a few grand of 'mortgage style' debt. I wouldn't even consider doing a CS degree now if I was going to graduate with 30 grand debt. Maybe 'proper' engineering if I thought I could do it (prob not - bit too shit at maths). It's insane that young people now have to start out this way.
  9. Oh they will do it. They have already told us how they will do it. Year 1 - £30,000 minimum pay for the job so only 'highly skilled' people will come in Year 2 - Minimum pay requirement reduced to £20,000 Year 3 - Minimum pay requirement scrapped.
  10. If I was choosing a line of work to go into now I would just have three criteria: - something that you basically enjoy (although everything becomes work in large doses) - something that earns enough to pay the bills - something that you could reasonably expect to set up on your own in if necessary (i.e. become self-employed) Nowadays IT work (programming) meets the first two, but not the last one which means that you have to put up with job insecurity and massive amounts of management and corporate ********. Yes I have considered contracting. Might consider it again soon LOL.
  11. I've worked in IT for nearly 25 years. I don't recommend anyone goes into it as a career, unless they see themselves getting into management within 10 years, preferably 5. It's not what it was in the 90's, that's for sure.
  12. What is (or at least has been) paying for houses at the moment at the current prices is - insane wage multipliers for rabbit hutches - bank of Mum & Dad for deposits - foreign money (clean and dirty) seeking safe investments and higher yield than they can get in the markets - buy to let - help to buy - low interest rates - lenders desperate to lend - high employment - up to now a reasonable economic outlook All these things are supporting activity, and yet we have seen prices scrape along the floor nationally over the past year, with record low levels of houses for sale on EA books. When any of these props to the market are kicked away, what will replace them?
  13. Wait until we sign a trade deal with India and open up the visas. That network engineer job will pay minimum wage.
  14. Yeah in those days you could send enough back to buy a whole terrace of houses.
  15. Employment figures are at an all time high because the difference in benefits you get for working 16 hours a week vs. not working at all are massive. So people get any type of work they can to get over the threshold for benefits. Some of these jobs are completely bogus, like running a self-employed 'nail salon' from your living room. Just get all your mates on the estate to come round for a chat every few days and 'pay' you to do their nails, bob's your uncle. Not saying all are like that but people will do any shitty job to qualify for Working/Child Tax Credit etc. These are not jobs that will ever allow people to come off benefits.
  16. I doubt this will happen. The benefits of EU freedom of movement (and I say this as a Remainer) have always been massively skewed against UK workers since the EU expansions. Workers from 'poorer' EU countries can come here, live in a HMO for relative peanuts and send all their money back home to build or buy a fantastic house. This is probably getting less feasible now as wages and property prices increase in Poland etc. but I don't think it's ever going to get to the stage where the reverse situation is possible e.g. UK worker goes to Poland and sends enough home to buy a house here. Never going to happen even with a 30% HPC. I suppose if you got a high wage job in Germany or France it might be worth it, we'll have to see what the work Visa situation is after Brexit.
  17. "However,the bigger picture is actually that house prices have seen next to no movement over the last year, with annual growth of just 0.8%." "My house earns more than I do" - probably won't hear that one for a while.
  18. Agree with everything you said. I too am waiting with my deposit. The only question is what outrageous stunt the government will pull to try to keep the bubble inflated. I wouldn't put anything past them, to include just straight up giving people money to make up losses/negative equity.
  19. https://www.telegraph.co.uk/business/2019/02/05/estate-agents-face-bleak-times-move-owner-shuts-120-branches Oh the humanity....
  20. That might be so, it would depend on the wording of the lease. But in any event the landord is going to want his money and could well say to the tenant 'Pay me and go chase the agent for your money, otherwise here is your Section 21, have a nice life". In case you were not aware most tenants don't have a lot of legal protection in this country.
  21. I'm pretty sure that the lease constitues a legal contract between the tenant and the landlord, not the tenant and the agent.
  22. The money is just resting in the EA account. I bet a good few tenants will be stung by this when the agent goes belly up in the shiny suit/high heels massacre to come. As much as I hate renting I'm so glad that I have a direct relationship with my landlord. They have been fantastic to be fair, and no rent rise in nearly 7 years, touch wood. The agent I dealt with when I moved in was introduction-only, but I got an email from them recently trying to flog cable TV. The subject was the address of the property and it was worded for all the world as if they had some kind of ongoing relationship with the tenancy. To be honest when I saw the subject my heart jumped because I thought it might be some kind of section 21 notice or something. I rang them up and told them to ****** right off.
  23. Massive HOUSE PRICE affordability INCREASE Potential future HOUSE PRICE PROFITS have never been greater!
  24. I had something similar with Smile PLC a couple of years ago (although I was never behind with payments). I had two personal loans with them (the second one paying off the first and going forward). They had been sending me regular statements but apparently the wording or information on them did not meet the terms of the Consumer Credit Act. They basically wrote off a big chunk of the interest and I ended up saving about 2 or 3 grand.
  25. Fair enough, didn't know that, seems obvious in hindsight. I've seen plenty of flats advertised with sitting tenant where they don't make this clear mind you. I suppose in those cases the landlord is ready and willing to kick them out if necessary for a residential buyer.
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