Jump to content
House Price Crash Forum


  • Posts

  • Joined

  • Last visited

Everything posted by HovelinHove

  1. Not sure the builders are going to like this. They had a protected piece of the pie. Could hit new build prices a lot. At the moment I don’t even look at them as they are over priced compared to second hand homes.
  2. I am buying a house today. This underpins the entire Ponzi scheme and guarantees a new generation of gullible debt slaves will be buying in their droves over the summer. If you can’t beat them, then join them. I am literally going to buy a house today.
  3. If you are a citizen or have permanent residence in another country (something you would need to stay for. Any length of time), and if you stand to save that much, and the country you are going to doesn’t tax the heck out foreigners at some point to pay for the COVID mess, then makes sense. However, I wouldn’t trust other governments not to tax rich overseas types once the COVID bill lands on the doorstep...they are the softest of soft targets for populist politicians and garner zero sympathy from anyone...and rightly so. If you have made £3 million out of Bitcoin, you would do better to pay your dues to society, stay here, and avoid the headaches.
  4. May be a few HODLERs with clenched buttocks this morning. 45%...nasty. Tiny violin.
  5. You did the right thing, and well done for being so strong this long. That has been one of the reasons I’m glad I haven’t been in it. I would have sold years ago as I couldn’t take the stress of sitting on that much gain knowing it could all be wiped out in a bad day...or Musk tweet. Then, having sold, I would now be like Dave Daytrader. Money isn’t everything. When I was on the other side of the pond I had info on my company that could have resulted in a multi-billion dollar law suit against them. As a whistleblower I could have grabbed 25% of any proceeds, then I read the story of someone who had gone down this road. They made $90 million, but lost their house, friends, marriage and mental health in a nine year fight with lawyers. I had 3 months of fighting with lawyers, and called it a day for a 6 figure sum with a year off. Money is not worth stress.
  6. I bought my first bitcoin (Canadian ETF, only a $1000 for fun and not feeling like I’m the only idiot on HPC to not have a stake in it) today...time to sell everyone, I curse every asset class I touch LOL! Not completely true, but I have a knack of getting it wrong. Going to make an offer on a house later this week...HPC coming soon!
  7. Personally, I think the budget will be the telling moment in the UK. I am getting vibes that Sunak has given up fighting for decency, and sound economic management and may go full MMT after being sat on by his fat boss. We will see. On the other hand, while I am seeing the odd bit of panic buying in the housing market, I am also seeing lots of chain collapses too. I see some houses sell in two days, only to come again a week later and sit there for weeks. It is a very disturbing time to be in my position, but I have faith. I did view a house today, and am probably going to make an offer.
  8. I just look back to this time last year and I was rubbing my hands thinking cash would be king, but our prostitute politicians and bankers are destroying everything. Really horrible time to be all cash. Not my choice, have been trying to buy a house, but been stupid out there. Watching people being handed wads of cash for doing nothing, and thus destroying the value of every pound given out. I detest Boris as he has turned into everything I hate about politicians. I blame his fiancée.
  9. I am hearing rumblings in some US jurisdictions of taxing unrealised gains and exit taxes for people trying to leave the country. California I think. I can easily see how Bitcoin gains will be a very soft target, and if this comes off even the hodlers or whatever they are, will get squeezed and be forced to sell to pay the tax man.
  10. First North American Bitcoin ETF launched today. I will not be buying it for reasons no one here would understand (faith based), but I can see BTC going to 2,3,400k or more if big investment funds, corporations, and pension investors start piling in. I also think it has the potential to bring everything else down with it if panic selling ever sets in once it reaches those highs. https://www.globenewswire.com/news-release/2021/02/18/2177751/0/en/Purpose-Investments-Launches-World-s-First-Bitcoin-ETF-Invested-Directly-in-the-Digital-Asset.html
  11. It completely makes sense if you are sitting on large six or seven figure gains. I am a New Zealand perm resident, and there are some very favourable laws for newly arrived residents when it comes to things like this. It’s all a bit of a moot point for me though. I tried to get in at 17k, prayed about it, and the app I was using wouldn’t work, and took that as a sign! Personally I feel better off not watching the flipping price every 5 seconds which is precisely what would have happened if I’d lobbed 10k in...InsteadI only look at the price a couple of times a day and sulk
  12. Is profit on Bitcoin subject to CGT, and if so, is there a way to avoid it?
  13. Love it...33 posts. Desperate estate agent, bored and nothing else to do.
  14. Wow, a post that you didn’t end with “buy Bitcoin”
  15. I agree. If anyone thinks they can make an offer now based on slipping in under the mid May deadline, must have finances lined up, solicitor on retainer and no chain. Moreover, I think that this will be like the extension HTB, only for those who made “significant progress” with their transaction...what that means is harder to define. This is a middle way, that doesn’t cause the apocalypse we want, but will certainly result in a significant number of dodgy chains falling apart, and the end of the feeding frenzy of the past 6 months. Come late April, I believe the fun that should have started last July, will finally begin. The brutal truth is that lots of marriages have been pushed beyond the limit; there have been a number of excess deaths; there will a fresh wave of post furlough redundancies combined with the end of mortgage forbearance (the 3 Ds), there will be a lot of old folks who are keen to move into retirement communities after being isolated in their large homes who have delayed selling because they are petrified of having hoards of buyers with COVID in their home; the UK population has shrunk for the first time in decades, and HK is not going to allow the replacement that Boris dreams of; there will not be hoards of buyers because many of the particularly muppety or speculative types will have tried to beat the SD deadline; there will be less migration from London to the countryside because London will be collapsing. Much of this should have happened since July, but due to the ongoing largesse of the government, didn’t. I believe that Sunak is a genuine free market chancellor, and is keen to get things onto a sensible path again. Allowing the pain to happen now, with 3 years still before the election, makes a lot more sense then continuing to inflate the bubble and alienate the conservative base.
  16. I think this is not just a rumour, it was leaked with the intention to calm nerves as leaving it till March 3rd would be too late. I think this is fair enough. I suspect he will announce this in the budget and say it is only for those already in the process. Makes sense, although I preferred the chaos and crash potential of March 31st. If he doesn’t restrict it to those who are in conveyancing already, then it will just create another crazy last minute dash for the line. Either way, the market will freeze just as we come out of lockdown. People who have been delaying sales will be putting their houses on just as demand disappears. Perfect. Hold on folks, happy days ahead. https://www.dailymail.co.uk/news/article-9255791/Rishi-Sunak-considers-extending-stamp-duty-holiday-prevent-buyers-dropping-home-sales.html
  17. Love seeing these posts from people with a couple of dozen posts every now and then. “OMG, the market will never crash!” To me it tells me that some people (VIs) are really scared...like so scared they’d spend their furlough time trolling HPC because they can’t sell houses at the moment.
  18. Interesting analysis in the DT today that suggests that there are many big league investors who are ready to clamber aboard recognising a number of fundamentals and other factors that underpin a steep rise in the price of silver. I watched a lot of analysis yesterday by PM specialists, all of whom dismissed the Reddit crowd’s ability to move the needle, but also all of who said that silver was cheap at the moment and that a doubling of price this year would be well within the realms of the fundamentals. Moreover, if large hedge funds adopt the tactic of buying physical silver ETFs creating short term supply issues (an issue highlighted in this and by the Reddit post), and price spikes and if traders who control billion dollar funds see the Reddit strategy as a viable option to apply on a huge scale and turn a quick buck, $50 could look very cheap indeed. Silver article in the Telegraph.
  19. I'm not as convinced as you it will just go away, but I do find it weird that people can't see the difference between silver and Bitcoin, and that one has a physical utility with a demand that guarantees a floor to its value, as well as rarity, and recognized historically (over 4000 years) as a unit of currency, and the other has a floor of zero if people lose confidence in its value as a store of wealth or as a speculative vehicle. Silver will always be worth something...I'm prepared to lose 50% now in the hope it will go the other way instead due to the reddit effect, but also knowing I only realize any lose if I sell the silver and that as a hedge against inflation, I could do worse in the medium term. With Bitcoin and Gamestop I could lose everything.
  20. I’ve got physical Gold in a vault, don’t want any more. I actually like physical ETFs and miners more. I know people question the integrity of physical ETFs, but I suspect that they may realise they under scrutiny at the moment, and will be making sure they have the physical cover, and this will help contribute to the short squeeze. Lot’s of fun anyway. Like you said in another post, silver and gold are not Ponzi schemes, and audited physical ETFs shouldn’t be either, but it is conceivable that people will look back at Bitcoin as a giant pyramid scheme. All depends...I am not anti-bitcoin, just wouldn’t risk serious money on it.
  21. I think he’s right and wrong. He’s right that Silver, even at $30, is a good buy on the long term, so if you can afford to buy and hold, it makes sense to do so regardless of the current situation. Where I think he is wrong is that the Reddit Raiders can’t move the needle in the same way that they did with GameStop, and I think that is because of the above. I just chucked a few grand into a freshly minted ISA and bought Wisdom Tree silver. I would never dream of doing that with something like GameStop...a few hundred maybe, but not money I’m not ready to lose, because at some point you will lose it all with GameStop...however, with silver, even if the current attack on “The Man” fails, I will still be holding an undervalued asset. Schiff makes this point, but fails to join the dots and realise that the Reddit Raiders are the thin end of the wedge, and there are many out there who would quite happily go into silver for the fun of watching JPM et al squirm, also to potentially double their money in a month, and if not know their money is safe. Buying a chunk of physical silver ETF makes a whole load more sense to me than buying Bitcoin, and therefore many others with more money than me will see the opportunity to speculate risk free and bung some serious cash into silver ETFs I think this will draw much large amounts of cash from all around the world too. Many major exchanges have their own local physical silver ETF, making the cost and logistics of trading easy. All this will then produce the short squeeze, and the banks will actually have to go out and buy physical silver to cover their shorts, which will drive the price up further as the complete lack of supply is exposed. Of course, the establishment will be working over time, shorting overnight, twisting arms etc, but if enough people with a reasonable stake get behind silver, they will have to back down. Anyway, I think this could be a lot of fun to be a part of! Gold too, but that is a much bigger market and I am already in that.
  • Create New...

Important Information

We have placed cookies on your device to help make this website better. You can adjust your cookie settings, otherwise we'll assume you're okay to continue.