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Unmoderated

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Everything posted by Unmoderated

  1. In honesty my plan hasn't changed. I used Brexit lull to buy a place and get a good number off the asking price (still too much but what can you do?). It was a project house too but with lots of things they just aren't making in new houses unless you spend big. Open fire, very large plot, rear vehicle access for camper or boat or whatever and walking distance of town. My plan is to finish extending and renovating, sell it tax free and find another, then maybe do one last one and end up with a modest house in a nice location with a nice garden all paid for with tax free capital gain. I'm not running on their treadmill to pay for the boomers and all the younger hangers on a second longer than I need to. That's my plan anyway.
  2. My plan is to sell the second you buy. You are the uberest permabear. If you're capitulating it's 1929.
  3. 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.
  4. Crazy cheap on the Enfield.... might have to get one! Maate of mine had a Himalayan and then swapped it for an Interceptor.
  5. 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.
  6. 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.
  7. God made morons big and small, the Crypto bubble ruined them all
  8. 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.
  9. Doesn't work. It's not sustainable at ever increasing levels without an increase in income.
  10. 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?
  11. 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.
  12. 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.
  13. Off you go then. Private healthcare is expensive in old age btw.
  14. 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.
  15. 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.
  16. 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.
  17. 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.
  18. 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!
  19. 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.
  20. ..... 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.
  21. Had a couple of friends with the same. After one jab (can't remember which one possibly Typhoid) I couldn't raise my arm to close the boot of my car for a few days so to be expected. Yep. Of the people I know that have had covid the one who seems to have got off most lightly said it was like a week long hangover versus the worst side effect I've heard which was a days long hangover from the jab... though he was up playing xbox with me until 2 am and drinking Jack Daniels...... Even if you don't and weren't going to catch covid it's certainly worth it just for getting one step closer to reality.
  22. Yep, younger people seem to suffer worse. Wishing you a speedy back to 100% and a nice weekend!
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