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HovelinHove

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Everything posted by HovelinHove

  1. I was doing Jury service last week and one of the jurors had moved to our area last year, selling up their home in Chiswick to live the WFH dream. Now one of them has been told they have to be in 5 days a week in West London. 1.5 hr commute from hell. It is because of them houses have been unaffordable in my area, and now because of them panicking and selling up, the house I bought will probably lose 25% of its value! Grrr. However, I do think those who were more wise and decided to wait before making the plunge, and now see 2-3 days WFH becoming a permanent reality, will now make the move. There could be a bit of churn with those who jumped the gun selling to those who hung on to see what would happen, so prices could just stabilize. I don't see anyone else selling a house though if they don't need to, and with all governments committed to "protecting hard working families" there is no chance of mass repossessions, just a gradual take over the property market by banks with government help.
  2. Yep. You will own nothing, and they will own everything. Mass home ownership , the idea that you pay off a debt over a number years to own a home, empowers and enriches the masses, especially in their later years, but this is pure feudalism and a return to serfdom where the masses are at the mercy of these organisations and governments. This is precisely what the Great Reset is…they dress it up as some sort of socialist paradise, but it is corporate feudalism.
  3. This video makes huge sense to me (apart from the desperate plea at the end to buy Bitcoin…although I get that too). I look around the world, especially the Anglo Saxon world, and I have fingers in the Canadian, New Zealand and UK pies, and I am seeing bonkers increases in property prices (the UK is massively under performing Canada and New Zealand). The US is seeing massive run ups, and yes, some of that is driven by people fleeing the cities, but some of it is definitely being driven by this (Blackrock and other huge funds buying houses). I have become a little suspicious that it has been happening in commuter towns in Britain…houses disappearing the day they are listed. There are not many individuals out there capable of mobilising that fast. I also think we will see this happen by stealth when the economy goes into reverse and people hit hard times. There will be no repossessions, the ownership will just transfer to banks or investment funds and former owners will become tenants. We are slowly reverting to a feudal system. (disclaimer - I complete on my house purchase in 4 days time so now have a vested interest in prices not crashing).
  4. Best sell your fiat. I transferred much of my cash to my solicitors for my house purchase yesterday…my bank accounts look normal again, and I feel very relieved. less worried about an HPC than something gobbling my cash, including the inflation monster. HPC 25%…oh well, bank collapses, money printing…so few people have six figures in cash lying around that if they get burned, no one will care…especially not CBs or politicians. Assets are the way ahead.
  5. I completely agree. They will burn everything down with inflation. As for the UK, the oaf in Downing Street wants a second term, he will change the fixed term parliament act, and go for a 2023 election. He will quit in 2025 as he is lazy and would rather have fun and make money writing and giving speeches. In the meantime he will do a deal with Sunak that if he does everything to keep the plates spinning till at least the election, then he will support him taking over. They will dream up completely new ways of stopping a crash. There will be no repossessions and lots of incentives for FTBs. After 2023 there will be a crash vs Gold etc, and in real terms, but probably not nominal terms as these monsters will be happy to see fiat devalued massively as they are all asset rich.
  6. This thread exemplifies why Shlopmo, and other Marxists wannabes are on my ignore list. What a twonk.
  7. Our landlords have been fine, just costs us an arm and a leg.
  8. Thank you. Yes, I wish I was buying with more confidence in the market, but I am sufficiently confident about the house, location, and personal circumstances to take the risk.
  9. Thanks for the tips and the warning. yes, I’m aware of the issues with supply chains. Also, your advise on keeping existing structure, something we recently decided and instead of a huge open plan kitchen diner we are going to have a well insulated tiled conservatory and keep the rooms divided. With the advent of so many WFH, more rooms are better, and it is cheaper too. We are lucky to be able to continue renting our current property, but at the same time it is money we’d rather be spending on the renovations, so at some point we will move in with the builders half finished.
  10. Agreed…no, can’t afford Hove, but only 5 miles away and can cycle there on bike paths in 30 mins, and I will be living in the downs national park, so very happy with the location.
  11. After Sunak’s behaviour the past year, it is obvious that the number one economic imperative of the Tory party is to keep house prices rising, and while they may fail, unless there is massive forced selling then I think they will at the very least keep them close to current levels, even if they burn the pound in the process. I suspect in the event of rising redundancies we will see schemes in the future that transfer ownership of the properties to the banks or government backed rental corporations, with outstanding debts and shortfalls in rent payments underwritten by the taxpayer so the former owners can maintain the illusion of wealth and pay what they can until they get back on their feet. This should stop any significant massive crash, but I do suspect that we will see a 5-10% drop over the next year whatever. For me, paying max SD on 500k and nosebleed rents, a 10% drop is about the same as renting for another year, so I would gain nothing by holding out, especially as I know that I got it at a very good price (10% off Nov asking price and what it would have gone for in late 2019).
  12. Yes…no more fear of being gazumped. However, we now have lots of renovation to get done. We have a reliable builder to project manage it, so not going to be too stressful hopefully.
  13. Yes, the uncertainty of renting in the UK rental market is unpleasant. Congrats on your accepted offer, hope it all goes through well. The Tories have made it clear that they will do everything in their power to keep the market going up, and that is an important factor to consider as they are likely to be in power until the end of this decade.
  14. Having not bought a home in the UK since 1997 (sold in 2003 then moved to Canada in 2011 where I bought a lovely huge house for peanuts), I have bought a home in the UK. I got something at a 2019 price. I still expect to see 10% or more knocked off, but so be it. I found a home that I love, that I can afford, that will be highly desirable once we have renovated it, so that is that. So being the last bear to cave, I now fully expect a housing apocalypse!
  15. In the worst case scenario, about 10% of the elderly and vulnerable would die…they don’t need to be alone, or at home. But I think that with the vaccine it would be much less, but yes, we need to just get on with life now.
  16. Sorry, that prediction from SAGE is complete nonsense. Virtually all hospitalisations from the new variant are in non vaccinated people, and the sample sizes are too small to able to make the predictions they are making As usual they are just ramping up the fear in the UK population. If your anti-body response is slower, it will mean you get some mild symptoms vs no symptoms. The vaccine should make COVID like a cold or a mild flu at worst with each new mutation.
  17. We are a few days away from exchanging. We bought a house that was in probate and needed doing up at a fair price, about Jan 2020 price. Fully expecting a drop of 5-10% in value of this house over the next year or two, and a wider decline of 20%+, but our rent is 30k a year, we won’t pay SD, and it’s in a lovely location, and once we’ve finished doing it up, we will love living there. i think the declines are unlikely to start until the New Year as forced sales won’t really start until then. Moreover, I am of the view that the Tories will do anything to avoid a full blown HPC before the next election now, so there will be all kinds of schemes to stop forced sales….many of which will turn current owners into de facto tenants of the lenders.
  18. We are days away from exchanging contracts on a probate property that was put on the market last November and needs a full renovation. They had it on for way too high, had 2 developers low ball them, and we came in just above those offers and got the house in March for what I regard a fair price. We are paying 2019 early 2020 price for the house, it is in a lovely street in a beautiful village surrounded by a National Park. I had a chat with the agent selling us the property, and told him if we don’t complete by end of June and avoid the SD, we will back out and wait till next January. He agreed and said that all the gains of the last year would evaporate by this time next year…an estate agent said that!
  19. Had being the most important word.
  20. There are very specific laws that stop them doing this, but they can always try. If you can afford a decent lawyer, they will back off very quickly. Basically it has to be shown that you deliberately deprived the council of assets, and for that to be the case the elderly person concerned would already have to have a diagnosis of a condition that would require care, and the onus is on them to prove it when you come to court. They will try to bully before then though.
  21. They do not force governments to to do anything, but they have a lot of influence over members of governments, and as a result policies suddenly start appearing that were never in manifestos we voted on, but were part of some Davos event. They also have enormous influence in the media and other arenas and therefore are able to have some control over the narrative that drives public opinion…so yes the people might well clamour for it, but they might not have had a fully informed discussion. To your last point, if people really understood what the WEF vision of the future was, I believe the overwhelming majority would be against it. At its heart it advocates for a quasi socialist, centralist, corporatist system where National democracy has very little control over policy any more, and so called “wise councils” make the decisions. They get to define who is wise. It would be a disaster for the world.
  22. Agreed. I saw a house that we really liked last summer that went pretty quickly, maybe in 2 weeks. yesterday, 9 months after being taken off, it reappeared on rightmove. SD deadline now in the rear view mirror from a practical perspective, so they may now have to drop their price.
  23. Yes, I got a fair price, 7% below asking but they were expecting way too much. A couple of others had softened them up first with lowball offers, probably developers who realised the amount of work needed doing and lack of ability to turn a profit at their asking price. We want to live there, so are less concerned about profit. Having said that we will need to spend 70-100k to get it where we want it and continue renting in the process, but it will be to our spec and design, so worth it.
  24. It’s the way ahead. I am buying a probate house. It’s not wickedly cheap, but it’s a fair price…needs a complete renovation, but no one in a chain. Still taking forever to complete though.
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