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House Price Crash Forum


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Everything posted by Unmoderated

  1. Doesn't work. It's not sustainable at ever increasing levels without an increase in income.
  2. 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?
  3. 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.
  4. 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.
  5. Off you go then. Private healthcare is expensive in old age btw.
  6. 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.
  7. 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.
  8. 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.
  9. 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.
  10. 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!
  11. 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.
  12. ..... 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.
  13. 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.
  14. Yep, younger people seem to suffer worse. Wishing you a speedy back to 100% and a nice weekend!
  15. The more I read on this the more concerned I am about getting mine. Starting to feel like booking it but if I can't get Pfizer one then just not getting it. I know way more people with pretty nasty side effects after the jab than not. Waking up shivering like crazy being one, man-flu hangover being another. How old are you if you don't mind me asking? I am late 30s.
  16. 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?
  17. 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.
  18. 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.
  19. 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.
  20. Glad I bought in 2017. Brexit was really the gift for me and my siblings.. we all bought within a couple of years of the leave vote. Starting from now I wouldn't be able to get anything like I managed four years ago. I bought this place for low 400ks needing a lot of work. An extended and finished version of what I want to end up with in a couple of years just sold for 900K. My aim all along was to play the game against itself. House prices are insane but if you can buy something, renovate and improve and then finish up with a load of equity and do another then maybe you can be mortgage free by mid 40s. I don't see it as making money I see it as building my house in three moves.
  21. Empty offices will get converted into flats. Starting to do this in London already which is a double blow since few jobs there create less of the pull and increases in housing supply is a good thing.... unless of course they're all snapped up by canny overseas investors....
  22. More women in good careers = good for them and why shouldn't they have every opportunity? Blokes still have a physical advantage in 'heavy' trades (I didn't see my mate's wife nor my GF helping us put up a new fence or install a bathroom) but they have brains and it's a shame to waste it on housework. For HPs though it's going to be a booster.... more money into same number of households, or more independent single people demanding their own homes = prices up. Certainly not the end of men but the levelling up of women.
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