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twatmangle

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Everything posted by twatmangle

  1. From the day you were born, you've been receiving support from the taxpayer. If you really want to live in a society where you don't want any of the benefits achieved by the work of previous generations, then I suggest you move some a subsistence farming village somewhere in the third world, or a Calcutta slum.
  2. I think you will find that it's other people's children who will expected to pay for you. You seem to want all the benefits of a debt-based pyramid scheme, but not pay your way in it.
  3. Hi Glen, I'm sure if you gave your location, you'd get a cash sale agreed within 24 hours from someone on here. Probably.
  4. You won't be getting many posts from me tonight, as I appear to have found myself trapped in a student bar in freshers week.
  5. Most people truly understand it, they just choose not to bang on about it every f*cking day, in BIG RED LETTERS
  6. The FX markets and the yellow stuff have certainly noticed. LIVE FEED: AT THE TIME OF POSTING:
  7. Automation needs programming, setup, maintenance and constant attention. Believe me.
  8. That's true, but it's also true that at the other end of the mortgage, the final 5-10 years or so, you're paying peanuts on the mortgage, probably a fraction of the cost of renting an equivalent property. There will be interest rate fluctuations, but generally the cost per month will be the same throughout the duration of the mortgage. So inflation adjusted, it gets cheaper and cheaper as time goes by. It's a bit unfair to highlight one without the other. It's entirely another argument about whether the next 50 years will be the same as the previous 50 years regarding wages, inflation, stagflation, interest rates etc.
  9. Well done Sibbers, you seem to have got that part right.
  10. It is pretty much guaranteed. It's just the frequency of it occurring is relatively low. You are relying on people not knowing what they are selling. An analogy: Imagine a Japanese company made a computer console in the 1980s that was state of the art. It has a console and some controllers and some games. 30 years later, a Chinese company churns out some popular but not so well built games console, with so-so controllers, but the console is now all digital, and interactive so the kids love them. Now imagine that you could use the well-built controllers from the old system, on the new system, to make the overall new package even better. Now imagine that owners of the old system didn't know they were compatible with the new system, then you would pick an old system for £10 on eBay. You buy one and throw away everything but the controllers and sell them on as compatible with the new one, for £50. The people who own the new system know they can use controllers from the old system and are prepared to pay for it. They search on eBay for the old controllers, but the people selling the defunct system have no idea users of the new system can use their 30 year old stuff so list it as a complete system, not as 'controllers for sale, compatible with new model' etc. Hope this makes sense.
  11. But the ultimate question is... will you die at 72 as predicted, as per the calculations when your tax and NI contributions were calculated? For boomers, anything beyond 72 is just theft. Me? I'll probably be expected to work until 72
  12. My mum and day always tell me how important it is to save to buy a house. They should know, it took them nearly 6 months to save for theirs. As teenagers, they bought a 3 bed semi.
  13. My area, and the surrounding ones are as hard as nails according to this. I will bring this up at my next monthly meeting at work. We should all award ourselves pay rises and only work 30 hours a week. Hurrah for Experian.
  14. Maybe I missed something in the articles you linked to but I didn't see any mention of 42% Interest Only mortgages in either. In fact one of the two articles was nothing at all to do with interest only mortgages. I don't get where you're coming from, nor where you get your numbers from.
  15. Do you just pluck numbers out of this air, or do you have a dedicated random number generator that does this for you? I would hazard a guess that the truth behind this fact is something along the lines of in 2007, 42% of mortgages to FTBers were IO, or something like that. I would be very surprised in 42% of existing mortgages were interest only. If they are, then oh boy, this country is screwed??
  16. Yea, it's probably some sort of indicator of their worst case scenario, or the optimum result of their stress-testing models. Some computer model probably came up with a safe, mostly safe, and generally unsafe set of criteria and the rates reflect this. You can get 5 year fixes at 3.99% with a big deposit. 90%???? - No chance.
  17. Why would I ramp? It's not in my interests for prices to go up. Silly old man.
  18. No. No and thrice No. Banks offering to lend a maximum 3.5x salary does not mean that average house prices would, or should be 3.5x average salaries. It simple means that the bank will only lend 3.5 the salary of the person applying. It used to be the case that the lowest 20% didn't apply, they lived in council houses or tenements before that, leaving the affluent middle/upper working classes as the ones applying for the mortgages. Thus 3x the salaries of these applicants would be significantly more than the average of the whole nation. This is a gross simplification, but it shown the point I am making, that previously, a self-selecting set of people applied for mortgages and were limited to 3.5 salary. This is not the same as saying 3.5 x the average salary being able to afford the average house. To take it to it's extreme. If only Doctors, Lawyers and Bankers could get mortgages, then lending multiples could be 2x and the average house price >300K.
  19. I never used to understand how people could make serious money buying and selling on eBay.... until the last few days. I hit on a pretty much guaranteed way purely by chance. (I'm not going to kill the Golden Goose by telling you what) I see some products being bought by 'private' buyers, then re-appearing on eBay shops some time later for 5x the price, just listed with different Keywords.
  20. This is not the same as what the OP suggested though. There are many misconceptions that are present on this site. One of the biggest is that the average house used to, and therefore should cost 3x the average salary. This is plain horse shit.
  21. I stopped reading after this part. Can you explain why it should be between those values? Or is the rest of your proof utter ******** as well?
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