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Dylan

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Posts posted by Dylan

  1. I've backed raises a few times now with no luck. I just got 24/1 on rates staying the same, so put a fiver on. Hell, if they raise, I'm happy, if they stay the same I'm £110 up. That's the last of my betfair introductory bonus gone though- so c'mon Merv, screw us all over.

    Great minds... I did the same last night, but at 22/1. It's (just) at £5 @ 29/1 now, so well worth an insurance punt.

  2. Despite the fact the income from the crown estate which was handed over by George III to the Government in return for the Civil List and now makes the Government a PROFIT - I think losing the queen as constitutional monarch would the be gravest threat to our freedom in this coming century. She's acts as a gatekeeper and a counterbalance to the Blair's of this country.

    Which would you prefer? Prime Minister Blair or President Blair with total authority.

    You don't need to be a Royalist to see where your bread is buttered - if only you can get over your own green-eyed monster.

    As a side note I was travelling in a muslim country just after 911. I was acousted by a Muslim fellow who spewed bitterness and hatred towards Blair and Bush. Absolutely loved the Queen though.

    I think the Monarchy is an asset on the UK PLC balance sheet.

    Not only that, it enables you to disagree with the government without being seen as unpatriotic. Unlike America, where if you're anti-Bush you're automatically, in some people's eys, anti-American.

  3. The front page of the BBC news site has a 'Most Popular Stories Now' section, with the top 5 Most E-Mailed and Most Read stories listed. Very often some very old and obscure stories make it on to the Most E-Mailed list, so it can't take much to get articles on there, and these stories often also make the Most Read list just by virtue of being on the other.

    So, are there enough of us on here to get the bearish news back to the front page? Visit this story, 'House prices set for slowdown', click on the 'Email this link to a friend' link at the top and email it to yourself. If it makes the front page it might give some people who wouldn't necessarily have seen it the first time round some food for thought, .

  4. If I had a BTL I'd probably put it on the market to sell and rent to see what I could get. This might have the effect of increasing rents though, unless unemployment starts rising quickly.

    Who in their right mind would rent a house that has a For Sale board outside unless you only plan to be there for 6 months?

  5. A hint to anyone who gets harrassed by them about loans and nonsense is to ask for them to note it on the screen that you don't want bothering with their advertising and they'll mark it up on the screen so you don't get asked again.

    I must have ticked a 'no junk mail' box at my bank sometime, as I never hear from them. Every time I go into the bank (only about 3 or 4 times a year) I get bombarded with offers of loans, premium accounts and 'financial reviews'. I'm the sort of customer they must hate - always run my account in credit, salary gets paid in and then all but the amount needed to pay direct debits gets transfered straight out to a savings account elsewhere.

  6. ...I have no objections at all to people investing a little to guard against old age and penury, but let's be frank here, the vast majority of BTL's have no interest whatsoever in anything so noble. They have cumulatively ruined everyone else's chances of a civilised approach to property, ie: buying a decent, modest, home, not screwing up the market for everyone else.

    Therefore, I stand by points already made.

    VP

    Unlike some people here, I don't hate BTL's with a passion - those who aren't just in it to make a quick buck are providing a service to those who, for whatever reason, are renting. The one's who are mortgaged up to the hilt will soon find out that isn't the way to wealth and financial independence. They will be worse off for it and the rest of us will be able to buy a decent home at a reasonable price. If I thought prices will continue to rise at 10% per annum my opinion would probably be different.

  7. Forget that old rubbish, will you accept my £1000 bet? I believe your post was a lie. If you want to earn a grand and protect your honour, reply to this post.

    We can nominate an intermediary and I can get the cash to him/her tomorrow, pending the outcome.

    Quite possibly the most ridiculous thing I've read on here for a while. You can believe what you want RB - does it scare you that there are people like that out there?

  8. It is impossible for a BTL to be "bearish" otherwise he would not have bought the stuff in the first place. You mean he is a bull who thought he could make a killing but has now realised he cannot make money automatically by simply buying to let and believing that everything goes up for ever. That doesn't make him a bear. It makes him just another BTL'r who got his hands burnt.

    Sorry to appear pedantic but it is a crucial distinction.

    VP

    If prices crash 40% he'll still have made a lot of money. He's bought the properties to pass on to his children when they need them. You could argue that he should sell now if prices have hit the top and invest the money elsewhere, but when he has rental income and low mortgage costs, why bother? Not every BTL is going to sell immediately or instantly become bankrupt if prices drop. The distinction is between those who run their BTL as a sound business, and those who are just playing at it.

  9. There's two guys at my work who have 4 BTLs each, I'll call them 'Amateur' and 'Professional'. 'Professional' bought his houses slowly over the last 15 years without MEWing to pay for them and has plenty of equity. 'Amateur' bought all of his in the last 2.5 years, MEWing each to pay the deposit for the IO mortgage on the next.

    The three of us were discussing house prices today. Professional is *very* bearish, thinks interest rates will be 6.5% by the end of the year and is preparing to ride out the storm. Amateur said he'd just sell when his fixed rates run out if interest rates are that high. We asked him if he'd come out up if he had to sell, 'just about' was the reply. 'Professional' then asked, 'even after capital gains?' Not a word of a lie, 'Amateur' didn't have a clue about CGT. He thought that if you MEW a property and leave only £10k equity you would only pay CGT on 10k if you sold. My jaw almost hit the floor when 'Professional' had to explain how it's actually calculated!

    I'm certain that the number of 'Amateurs' far outways the number of 'Professionals' - people who have jumped on the bandwagon in the last couple of years, hardly giving the details a second thought. And it's going to all get very messy over the next couple of years.

  10. Nottingham is going to be a bloodbath property wise, with 600 empty flats and about 3000 more on the way. To think they want 800 a month in rent for cr*p like the Hicking building. I don't live there any more, and I have to say I have never been in a city with such an inappropriately high opinion of itself. Especially people who live in 'The Park'. Yuk.

    Didn't the Grauniad say there was a 15% drop in Nottingham prices last year?

    It's certainly bad enough for builders to be going out of business - http://news.bbc.co.uk/1/hi/england/notting...ire/6233777.stm

  11. My mother works for DEFRA and was telling me today that the section that were responsible for ballsing up the payments to farmers are now getting paid overtime to clear the backlog, and receive bonuses when they hit their targets. Now I'm sure this isn't unique to the public sector, but I can't think of many companies that would effectively reward staff for doing their job badly.

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