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House Price Crash Forum


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Everything posted by Unmoderated

  1. Agree Count, it's crazy! There was always a few on within 1/4mile of my house but now nothing at all. Every board is sold! The only stuff available is crappy newbuild flats being sold (probably the owners are looking to buy something else). Place opposite me sold for £900K - much nicer and slightly bigger than mine but that's more than double what I paid. I could probably get mine to that standard with £100K. I am starting to think a spot of inflation is coming.
  2. Crazy cheap on the Enfield.... might have to get one! Maate of mine had a Himalayan and then swapped it for an Interceptor.
  3. Racking my brains trying to find an example in history where wage inflation was flat while consumer price inflation was rampant but I can't. You can't force a bank to lend nor a consumer to borrow. It is pushing on a string. If it wasn't so difficult Japan wouldn't have had coming up three decades of pretty much flat growth. Prices can't continually rise beyond the point at which people can afford to pay for things.
  4. What I mean is you can't have continued feedback of inflation without a corresponding inflationary increase in wages. Sure, you can fire money at people with cheap debt but that's pushing on a string and you can only load debt up to the limit where lenders will lend so for continued high inflation I believe you do need a corresponding increase in wages.
  5. God made morons big and small, the Crypto bubble ruined them all
  6. They haven't lol! I'm talking about CPI inflation anyway, not asset price inflation. CPI is what BoE targets with interest rates. Rental prices have increased though which sort of conflicts with your comment about no increase in wages.
  7. Doesn't work. It's not sustainable at ever increasing levels without an increase in income.
  8. Pretty much a given in a services based economy. Explain how prices can continually rise without wage increases and where this has happened in the world?
  9. I think I got stress tested up to 10% when I took out my mortgage, not fun at that level but could still pay it. For those that bought a house on the help to buy estates and then skipped down the car dealers for a couple of PCPs they might struggle but even then only when they come off the fixed rates and then they could just sit on interest only for a time. The bigger impact would be on the wider economy, rising rates would just suck disposal income out of pockets. A final point is that if we do have a time of higher inflation it would erode the mortgage debt providing people are coving the interest at a minimum. Interesting chart though.
  10. Yeah that works. Costs of disposal netted out before inheritance. then you add £ inherited to your earnings for the year and suck it up. Better to tax the windfall and lower the burden on your run rate of earnings. People that can't see it must be either millionaires with useless kids or retarded.
  11. Disagree. It actually does have a negative impact at a social level because it accumulates capital in the hands of those that don't know how to best deploy it and means the rest of us schumks are paying more in others taxes (fair play if you enjoy that). There's a good old phrase, clogs to clogs in three. I have friends who have parents with very strong work ethics. The kids are typical rich kid wasters. Why would it encourage people to have lots of kids? Makes no sense lol.
  12. imho this simplifies it. Treat all income as just that, income. Gifts, capital appreciation, profits, inheritance and earnings. Pure insanity that some can cruise by life gaming the system knowing they'll inherit a million in their forties while many people working far harder will never get there. I have a friend who had a wreck of a house bought for him, fair enough he used his savings to renovate it (money saved while living at home for free and doing odd jobs here and there). Now sits there claiming his grants (which aren't enough to live on btw because it's based on declared income for tax purposes rather than actual earnings). It isn't jealousy, it's juts about fairness. I'm lucky, I bought a house and I earn good money but as things are right now my plan was and remains to get into a position where I make enough money on this house (tax free) and then do another one or two (tax free) and then get myself into a position where I'm paying very little tax either by working less or making fat pension contributions. Anyway, if the Tories want to level up they can start with unearned income/wealth transfers.
  13. That's not really a reform, that's virtually the UK right now lol. How about giving all inheritees a tax free inheritance allowance of £100K. This way families with lots of kids don't pay as much as the single child inherent the whole lot. Seems reasonable, would raise more money AND impact far fewer people making it politically acceptable.
  14. I'm sick of these useless millionaires envious about how much I earn and having me taxed. See how that's a retarded rhetoric? ALL taxes take place at a transfer of value. The whole 'it's being paid out of taxed income' is horsesh!t and you know it! Certainly in the UK most inheritance is made up of insane property valuations that are tax free AND unearned. Most people I know who inherit run off to buy a BTL LOL. Lower income taxes, add any inheritance in that year to the income tax calculation. You get people pleading in the Guardian about inhering a property and then having to pay the tax but they don't want to the sell the house do they... the question they ask is should I get a mortgage or elect to pay the tax in instalments while I rent the place out. FFS lol.
  15. Agree 100%. Insane that someone can inherit a £1M for doing sweet FA and pay a lower marginal tax rate than someone working their bum off to earn £110K!
  16. Yep! You free up the scarcity issue and you'll find a lot of those second homes suddenly come out for what they really are, an appreciating value home for spare cash and debt.
  17. ..... and how many spare bedrooms does he have? I agree with the sentiment but draw the line at the state actively confiscating or taking control of your assets. Tax it to make it unattractive, slap a higher CGT on it and or high CT, IHT whatever but today it's second homes, then it's second cars and then it's your spare bedrooms. The bloke is a clueless gorm but thankfully a relatively harmless one. His muppet brother seems to cause more trouble these days.
  18. The referendum voted to leave. The bent voting system (FPTP) would be hard to change AND keep local representatives. To try and say the country changed its mind at the GE because Tories got 40% of the votes (the largest share of any part in that election) while every muppet that voted commie didn't even know what their policy was on Brexit (probably neither did the chinless cretins in the Labour party either) might as well cancel itself out. Leave won, we've left, it'll be fine. It's only a bana republic sham if you believe there was electoral fraud material enough to change the outcome. Do you believe that to be the case?
  19. Do you have zero sympathy for those that voted Labour in 1997 and voted Labour every election until 2010? When Brown was on his way out in 2010 I genuinely thought the Tories could play a blinder and build loads of houses to prop up the economy, boost jobs AND lower prices. Guess what the3y did instead? Point is it genuinely doesn't matter who you voted for. High house prices win more votes than lower ones. Trying to get elected on a platform to crash prices wont work.
  20. Yep, I remember feeling there would be a crash in mid 00s and there was for a time a 'correction' let us say but not an outright crash. I viewed price increases as a dead cat bounce but how wrong I was. I capitulated in 2017 and was worried I'd done the wrong thing. End of the day there's nothing smart about buying a house, or dumb about not buying one but the game is rigged for sure. I used to slap away 'they wont let prices fall' remarks with 'they can't stop them'. Turns out I was wrong.
  21. The average guy is apparently. I got 3% so must be below average but I did get a promotion so YoY my basic is up 13.5% and I qualify for the bonus which might be £nil or as high as 30%. Not bragging but I've been extremely lucky the last year but despite all that I'm not moving house and only borrowing more next year to fund some home improvements... but with money so cheap I think I'd rather have a nicer and more comfortable home while inflation nibbles away at the debt pile. Just my humble view.
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