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House Price Crash Forum


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Everything posted by Voltron

  1. Agree that future of Aberdeen looks bleak. Went to city centre last weekend and was dead. Not sure what council has planned for empty shops as unions Street is full of them. The rumour is also that the big M&S near bon accord might shut soon. The so called boom in hydrogen/renewable hasn't happened and I don't see why any company in their right mind would want to be based in Aberdeen, with so many other better locations. Regarding decommissioning, it hasn't turned out to be the saviour like previously raved about, but the pioneering spirit is just one part of the decommissioning process. That has essentially been the best way to remove topsides / jackets, which has always been about 20/30% of the total project costs. The main cost of decommissioning has always been plugging and abandoning the Wells, which accounts for about 50% of each project. Estimate costs for platform Wells range from £1 to 10 million each, with subsea Wells estimated at about £10 to 30 million, most of the costs are from hiring out Jack up / vessels for the P&A.
  2. Yes I will buy and slowly transfer out to ledger, need to still research more on that. Yep I don't see this as a short term, I've obviously missed the boat so will just hold and hopefully will be worth more in the next 5 / 10 years.
  3. Thanks for info. Yes wouldn't go all in as crypto still an investment which can go wrong. I think I'll plan £100 a week (50/50 split between BTC & ETH) and just DCA for the foreseeable future. What paperwork do you need to keep to make it easier for when selling? I plan to use bank account > revolut > coinbase pro. Should I just keep statements of bank accounts etc and note down price bought for CGT purposes, or can you export this data from the exchanges easily.
  4. Thanks. Do you think institutional investors will go for ethereum or stick with bitcoin?
  5. Hi All, Reading through this thread again just shown how wrong I was about HPC and crypto. I do t have alot of money to invest so was thinking of just DCA into bitcoin / Eth £100 a month, does this seem like a waste now as once again it seems like I'll be buying "at the top". I've tried reading up on altcoins but just seems like more risk than I'm willing to do at the moment, is it worth just concentrating on BTC / ETH or should I do more research onto alts? With job situation looking abit flaky, I've got enough savings for 6 months + about 100k in pension / ISA, but I think I really need to just invest in crypto as feel so stupid not investing before.
  6. Bigger problems lie for Aberdeen with the upcoming IR35 reform. Alot of personnel n Aberdeen were working as 1 man band limited companies. Few years ago it wasn't unheard of for people to earn £1000 day rates onshore. Nowadays is a complete opposite. day rates and per hour going down and down. Most companies have stated roles are inside ir35, so no doubt come April there will be a lot of people leaving. Very few operators are drilling exploratory Wells. The "brownfield" projects are non existent in Aberdeen. More and more private equity / independent operators are springing up as the big boys like BP / she'll are concentrating on a few offshore assets / hubs (West of shetlands etc). Unfortunately, I feel like things haven't started to get bad in Aberdeen. With brexit looming, this will add another factor for companies to comprehend.
  7. Pretty disappointing to read how bad the scale of fraud is, money could have been put to so many better uses, if only some simple checks were enforced. Also shows how society in general, peoples ethics and morals are going down.
  8. I have to admit, I feel really jealous whenever reading this thread and see people making 5 / 6 figure gains. I sort of knew about bitcoin in 2017, but didn't really pay much attention to it. I ended up buying about 8k worth of crypto, mix between bitcoin and alts in 2018, at the very peak, now worth about 3k. I wish I could buy more now, but been burned before, and now I just think I've missed the boat again. Was also hoping for that HPC, but seems like that also will never happen.
  9. Home survey report list value at September 2020 as £225k. Not a great place to stay aswell, as that road used to always be busy at rush hour people avoiding the haudigan roundabout.
  10. Prison Officers get 34.1%, still not enough to work in that job. Wouldn't wish that job on anyone.
  11. Not sure how this would work if you wanted to WFH, and then were "requested by employer to come into office for say a meeting, would you get the 5% back for days working in the office, paid expenses for travelling to office? Can't have it only one way which benefits the employer. Seems like a very short sighted idea, which will turn out to be very complex and lots of blowback from employees.
  12. Aligning CGT at income tax rates was one of jeremy corbyns plans and he got hammered for it. Quite funny to see alot of the Labour policies now slowly being rolled out by the "Conservative" government
  13. Its pretty depressing seeing the decline of Aberdeen, every news link posted to this thread just seems to be doom and gloom. Alot of people losing jobs and most operators looking more into decommissioning their assets. The only thing that might help get some jobs back to Aberdeen right now is if they start the decommissioning plugging and abandonment Wells campaigns, but even then that won't create lots of jobs, like os always touted in press and journal. Don't see Aberdeen ever being a renewables or hydrogen hub like they are trying to make it, why come to Aberdeen when the work can be done almost anywhere else in UK?
  14. Do people think HMRC will really go after the people who abused the bounce back loan / furlough / eat out schemes? It would be great way to reduce the UK tax bill, but sadly I think it is just another pie in the sky dream, and once again show that HMRC are vastly understaffed, and only go after the low hanging fruit as they also have targets to meet and will never get the big fish like the proposed online sales tax going after amazon / ebay etc
  15. Wanted to ask everyones opinion on what to do if house will go into negative equity with a potential HPC upcoming? House was bought at 250k, current value would probably be 220k. Have about 170k left on mortgage, so right now in theory have 23% equity, however I suspect prices will fall even further in my area. Is it worth still overpaying mortgage? Plan to stay in house long term, as didn't buy for investment, but just not sure if mortgage overpayment is the best use of money with the ongoing COVID recession.
  16. Whats everyone's views on the potential huge increase in the number of people that will potentially be signing up to universal credit due to the ending of furlough and subsequently paying mortgage / rent etc. Seems like alot of people may struggle to claim due to the savings capped at £16k?
  17. How do people track their gold purchases? I.e. do you just remember the price paid for a coin or the % premium over spot? And what is the "official" spot price taken from, as the LBMA seem to only update price twice a day, AM and PM, not minute by minute during the business day.
  18. It's actually pretty good software, just checked it out and is pretty good, click on virtual tour: https://www.acandco.com/property/details/aacrps-DYC200089/14-Mill-Drive-Bucksburn-Aberdeen-AB21-9FS Surprised it sold aswell, as so many new barratt flats in dyce / muggiemoss which have been on market for long time
  19. I wish I bought when price was low, but then again I've always been terrible trying to time the market,does anybody think it's still worth trying to do research into individual shares or just go for a vanguard all world tracker, I know it's the sensible option but always feel so depressed when I hear big numbers people.making compared to barely single digit gains over a year.
  20. With a more than likely HPC upcoming in the UK in the next few years, what are peoples views of overpaying the mortgages whilst there being low interest rates? I understand that most people will see it as a waste of money, as the arguement of investing in stocks / gold / bitcoin etc, but with the potential of lots of jobs going, is it worth overpaying now (after you have an emergency fund of approx 6 months salary saved) given the uncertainty of investments in future?
  21. Why do you think WTI / Brent will be in triple digits by 2023? Seems very optimistic in my view. Most operators claim that there OPEX (Operating Expenditure) for most platforms is around $10-20 a barrel, I personally have never understood how some platforms are still operating, as some are producing less than 4000 barrels a day, and they still need a crew of about 20-30, with platform Maintenance probably costing a few million a year, still could never work out how it was profitable but obviously it was. Maybe it is cheaper to just break even than to pay for the platforms to be decommissioned. The big players ave now left Aberdeen and it is now mainly the smaller independents companies. ConocoPhillips sold their assets to Chrysaor, Chevron to Ithaca, Total and Maersk merged. ExxonMobil still has some non operating stakes via the Esso company in mainly shell and BP assets. BP seems to be the only real player that will be around in the next 10 years due to the clair and quad 204 fields west of shetland, that seems to be where the only new viable fields are. Still it seems that UK production was around 1.5 million a day, and will just decrease unless they find new fields. I think the biggest producing asset is currently the CNOOC buzzard ( previously was the Apache Forties fields), but even the buzzard on a good day was just scrapping by 100k barrels (must be way below that now). I wish I could see a future for Aberdeen, as I do enjoy the city and it is a nice place to live. They are trying to turn it into a renewables hub, but way to late and doubt any companies would want to come here rather than stay in other cities.
  22. Anybody else enjoy the programme "Can't Pay? We'll Take it Away!", looks like that will be having a new series...
  23. Reading things like this is very depressing, knowing that the money could have been spent on so many better resources like the NHS. I also wish that HMRC would catch all of the fraud claims, but it's more likely they would go after the low hanging fruit rather than the businesses.
  24. Isn't one of the biggest flaws with bitcoin which is stopping it becoming "money" I.e. means of exchange and store of value, that people are just buying and not spending. Everyone makes fun of the person who bought pizza for 10,000 bitcoins, but ultimately at least that person was using it as a means of exchange which satoshi designed it for, it seems like everyone just views it as an investment (nothing wrong with that), but surely this must hurt it as it's a catch22 in that people won't use as they are scared they will lose so much pounds, and noone can properly assign a value to normal items I.e. milk / eggs, as the conversion to "fiat" is so volatile.
  25. Has anyone actually cashed out a 5 or 6 figure amount to a UK bank account? There have been various reports of people who have had there bank accounts closed after depositing large crypto gains. Plus has anyone got any info on how capital gains tax would work for crypto?
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