HovelinHove

I ignore Si1 but I can see his comment in your reply…you forgot to add that India has a rate of mortality from COVID that is a 10th of the UK, being only 112 on the world COVID rankings. The healthcare system is woeful, and the population is 1.4 billion…what you see on TV is the worst of the worst, the vast majority have the snuffles or nothing and get on with life. Those who say look at India are idiots who are incapable of getting their tiny little heads around clinical data…as they have been all along hence the ludicrous and highly costly lockdowns that were a completely disproportionate and inappropriate response to a disease that mostly affected those who were going to die in the next year anyway. Thank you Locke for original post.

Yep, he’s on mine too.

While I detest the Tories (who I voted for) and particularly Sunak who goosed the market, this is a global phenomenon…in fact it has been quite tame here. In the city that I used to live in, Barrie Canada, and nearby Toronto, prices have gone up between 20-25% in a year, New Zealand the same, and the US has lots of markets like that. It is the mother of all supply squeezes hits the mother of money printing efforts. We sold up in Canada to come back here to be around for my Mum because my father got Alzheimer’s. We intended on buying last year, but a purchase fell through due to dodgy extension, then COVID, then multiple offers refused, even when on asking, and now we have one that has accepted, but are half expecting to get gazumped any second. If we do, we will completely give up as it is far too stressful. If we get the house, I will be relieved in some ways, but worried in other ways as I will taking on a reasonable mortgage and I am over 50. If it falls through I will be relieved to stay debt free, but worried about seeing my cash pile erode further, or worrying about the price of Gold crashing because I have chucked 30% of our cash into Gold. Finances wise, leaving Canada is looking like a monster mistake, but it was the right thing to do. It really is a horrible time to be in this position…but I will say this, it has taught me lean into my faith in a new way and made me realise that all this is just garbage in the end.

My company has approved a hybrid model for most workers, but they will be required in the office 2-3 days a week, and I can guarantee those that want to climb the greasy pole faster will be in 4-5 days a week. People are sick of Zoom and Teams, and corporations are seeing productivity and innovation falter.

Yeah, you are going on my ignore list, you are religious about Bitcoin.

Also 8% in 4 hours (either way recently) is not somewhere I would park serious amounts of my wealth. Gold miners are businesses that produce a commodity that always has a baseline demand. Miners are a bargain at the moment from a historical perspective, and if Gold does break out, 8% will be nothing. You are a Bitcoin ramper and you talk like a demented teen...it’s embarrassing.

Well I’m not poor to start with, I just want to preserve capital in the event I don’t buy a property. Also I don’t bet, I invest.

Yeah, if my house purchase falls through I will be putting 30% of my cash in sovereigns and keeping them in a vault. Who did you use, one of the big ones? Was it easy? Now that Gold has started its move, I see it going to $2500 by year end, and most miners going up 50% or doubling, provided there’s no big equity crash. I bought 30k worth off big miners last week, in the subsequent days they went up 8%! Who needs Bitcoin.

Sovereigns?

People watch the BBC, that is what is happening.

Boris was elected on a right wing Brexit, libertarian agenda, but since coming to power has adopted most of the policies of the centre of British politics...the kind of policies that the middle class love. He has lost a lot of the hard core free market libertarians (like me) in the process...I voted for him but absolutely detest him now because of the endless unnecessary population wide lockdowns, vast handouts, support for spivs, and his obvious lack of competence or integrity. However, we are a minority, and while he may have lost us he has gained all of those who are apolitical, and economically ignorant...the vast majority of our nation. I pretty much give up on politics now. Democracy is now an exercise of following public opinion which in turn is formed by a hysterical, misleading and manipulative media.

The miners are really breaking out. Gold is above $1800 and looking solid. I think this may be the start of the road to $2500. Everything else has gone parabolic, it’s our turn!

Despite being a highly paid professional I am working on the assumption I will need to work till 67, and must have no mortgage or rent, and forego most luxuries. That way I won’t be disappointed.

Whatever you think of what he says about bitcoin, I think he is bang on with the miners. Even o all that speculative anti-fiat money already in crypto stays in crypto, those who are a bit wary of the high prices of crypto, will look at these miners and start to get interested if Gold begins to move again. There is so much more money about to enter the financial system due to the old Biddy in the White House and the cray Fed, who won’t touch rates until it is too late, that people will buy anything, and Gold/Silver and the miners look like a no-brainer right now. I was right about Oil last summer, I think I am right now.

I am about 10% Gold (miners, ETFs and physical) but going to increase now because I think it is just about the last thing to experience a mania that hasn’t already. I am in the process of buying a house at the moment, but expecting to get gazumped every morning as things are “febrile”, and if I do, will abandon the market because it is insanity, and we may need to leave the UK in the next few years so don’t want to buy at the top. So I am thinking I really do need to get out cash fast now if I am not buying a house. Bitcoin may double treble, quadruple etc from here, but I feel nervous going into that. I have already gone pretty long on Oil (went last August near the bottom and doubled my money), and to me Gold looks ridiculously cheap given what is coming down the pipe in terms of inflation and money supply. I am thinking of dumping 50% of my cash for a house in Gold and silver if my purchase falls through. To me it is the easiest thing to trade that has the potential to preserve purchasing power (other than bitcoin). Honestly, it is nuts out there at the moment. I was going to buy a a one year old E class convertible or SLC later this year, but they have all gone! As everything else runs out and becomes too expensive, I think people will finally rediscover the love of Gold and there is nothing the banks can do about it.

I am in the process of buying...if it goes through, I will be relieved in some ways, I am buying at the top end of a fair price, but in others, I just think this will end very badly, especially if Rishi doesn't extend SD holiday again...I could see all of 2021 increases evaporating by October. I will totally pull out if he doesn't and I am unable to complete before end of June, and the buyers won't come down.

I voted Labour in 1997 and bought a house for 115k the same year. Sold it for 245k in 2002... Love to be reminded of why I block half the cretins on this forum now though.

I voted for Boris twice having never ever in my life voted Tory before, but only because of Brexit, and to keep Corbyn out, but I had to hold my nose...now I am one of millions deeply regretting the fact that we had no choice but him. Princess Nut Nuts is running number 10 now, but their days are numbered, and then we will have an establishment replacement like Gove who will be even worse. British politics is an absolute nightmare, and our democracy a sham.

The SDP were th old liberal party, but these guys are more like Reform or Reclaim. Very appealing. Their policies are actually sensible...but as a previous poster said, TPTP guarantees endless moronic policy from the LibLabCon nightmare we have endured forever.

Lack of supply and other factors such as Londoners borrowing against current properties to finance either a bridging situation or a second home have fueled a mania that is repeated in countless countries. Once all the old biddies come out and start selling, we might see a change in the dynamics.

I am buying a house too and agree with you to an extent...just don't like newbies coming on here shrieking BUY NOW...smells of EA/VI trolling. Seeing that multiple big banks are going to offer 95% mortgages from June will change things a bit...but they were before COVID too. Not sure how many of these the government will guarentee...that will be the key. If it is a limitless blank cheque then it will have a big impact, but if it is limited...nothing burger. The current situation may be a passing mania and demand fizzles out, supply rises and people who have bought than one house, or over extended themselves end up in very deep trouble. I can afford one with a modest mortgage, so don't mind the risk, but others should be mindful that manias do not end well.

You have been posting “panic panic bit a house now” posts. Troll.

I think you need to learn to differentiate a quote from another poster to the original poster before you are rude about people. The Count is quoting my comment and making a comment about that. Since early January things have been going crazy, there is a mania down here. We are in the process of buying a house at the moment, but expecting to get gazumped, at which stage we are out and will stop looking. Very bad market to be buying in.

The ultra rich have been buying property in New Zealand because it so far from everywhere...seen as a bit of bolt hole. I agree on the culture side of things...complete back of beyond, and near absolutely nowhere. My wife is a kiwi and we want to retire there, the recent price increases are a nightmare for us. I've seen the world, and would be quite happy to end up there and never leave. Most houses now have installed air pump heaters/air conditioners which are fine for the few really hot days or days below 15 in North Island. If I didn't have family there, I would not consider moving there as while the people are nice, they are fairly insular. If you have family and can afford a home in a reasonable area, it is paradise, otherwise only worth a visit for hiking holidays.

There are certain types of house to steer clear of at the moment as they are going for way over the odds. Nice, family homes that have been renovated, have good kitchens etc. They sell in a day and are over priced. The house I bought is about the same price houses have been since 2016, but maybe 5% more...not much though. Been on the market a long time...needs some work, which I am happy to pay for. If the market drops 30-40% I will be miffed, but I can afford it. I just don’t see that happening though. Crashes take a long time to recover from and the Tories will already be thinking of the next election.