bajista
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Posts posted by bajista
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Would you want to be the neck on the block for 'compliance' at Barclays?
Me neither.
+1 (trillion of hidden liabilities, probably)
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Since when has Author been spelt auther?
Never - it is his surname
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Over the very long term, land value in real terms stays pretty much flat. It just wildly oscillates around the mean as shown in the records for the Herengracht properties in Amsterdam.
If all you can do is grow food, then you only get to participate in growth in the agricultural economy.Also, bubbles exist. Debt wildly magnifies the growth in the economy, and that causes land price bubbles.
the Dutch solution to this dilemma - hedge your bets and grow tulips!
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Surely a housing boom is one where lots of houses are built/fall from sky.
As distinct from a house price boom where there is no change in housing but a bubble in prices.
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Of course it is entirely plausible with another 20% shaved off sterling, perhaps parity with the Euro, which seems to be where BOE are heading - which of course makes sense being part of Europe. The BOE could then un-offically peg the Pound to the Euro thus Euro via the backdoor.
Why do that when they can make us ultra competitive at £2=1 Euro or £4=1 Euro or, ultimately, £1000=1 Euro
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Also did they extrapolate what the wealth distribution and social structure of the country will look like if executive salaries continue to rise at 20% p.a and others at 2%?
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Do they mention how much an ordinary child born the same day as George will have to save each year to have enough pension in 2083?
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Ooh, want!
+1
The detail is amazing- the skulls, the almost Shell log,o the little band that is reminiscent of hydrocarbon structures......
Finally a product worth buying
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I can't generalise to everywhere and anywhere, but my grandfather inherited some properties ( which he rented out) from his mother around 1920, they consistently cost rather than made money for 40 years until 1960 when my (by then widowed) grandmother sold them for pretty much peanuts. As a result my mother always used to say that property was expensive to maintain and avoided it in favour of pretty much everything else.
Obviously the picture changed post 1960 and the timing of the sales was bad (or rather, terrible!!), but the fact that for 40 years of the last century it was not the place to have your money is a warning to those who think that BTL is always a one way bet.
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Surely some sort of poll tax could be organised to pay for it.
or a Pole tax - there are surely enough of them in the country now to be able to afford 1.5b
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Surely the point the OP is making is that if someone on £100k is stuffed it is more evidence there is no hope for the vast majority of the younger population.
I see it as a long term positive though. If he can't afford to trade up no one can- all those "£million + worth" properties in London - simply aren't.
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That is actually how investment banking works full stop.
Borrow lots from the Central Banks, bet high stakes with other banks, some win some lose.
Losers get bailed out with more cheap central bank money that helps dilute the value of their losses, and the winners keep the profit.
+1 trillion ;-)
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If there is one building that should be converted into flats it is the Houses of Parliament.
That is true, even without the elimination of its occupants. The UK is a rare case of a western economy where the commercial capital and seat of government is in one city. Should move it to Newcastle or Hull.
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These are MEW aren't they?
Some are, some aren't.
Some are mewing to pay for their final years and if they have no dependents, why not, you can't take it with you. In any case if it is all you have you'd be crazy not to even if you have dependents.
But it isn't all MEW
Some younger ones still have very elderly parents alive and have taken out mortgages in their 50s and will inherit enough to pay off ( parental care home fees aside)
And some have mewed but only to put up capital for their children in 20s and 30s so they can buy -so just early transfer of wealth- actually good tax planning too. [ though I don't approve of such propping up of the first time buyer market ]
Point is, overall statistics tell you very little as usual- shame government base all policy on the overall statistics....
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As it is, I find it an alluring remnant of old London. Call me strange, but it has a kind of magic about it.
+1, I love it....
but that can only be appreciated looking at it from a distance. The one place you can't have a view of BPS is when you are in it!
This is obviously speculation going on. The area has been hyped up via the media over the last few weeks/months and wealthy suckers think they will make even more money on buying an iconic building in an apparently up and coming area ( that they wouldn't have touched with a bargepole 2 months ago). Good luck to them, As long as I don't have to bail anyone out in 5 years I don't care........
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Quite. I think I'd be tempted, given the circumstances.
Surely only a matter of time now before somebody tries building a private underground monorail between London and Moscow....
Looks like this house will be going down as far as the existing underground line- useful - but they forgot to pop a platform on the plans,
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so if you end up having to come back when costs have risen, what is the point in going......?
It is a ( very rare) example of competitve economics/arbitrage working properly. One company does something ( in this case move to China) to gain an advantage, others see the same opportunity and do the same. The effect eliminates the advantage; as indeed it should.
It is completely predictable but since most companies operate on short to medium term horizons rather than medium to long term ones they fail to foresee this. Try arguing the (complex) long term risks vs. the shoter term obvious gains with a CEO ... hard work I can tell you from experience.
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Had the same pop up when I opened the forum earlier today - but I ignored it and it hasn't recurred.
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A quick google (you should try it) shows that the Home For Life Plan is equity release. So you never fully own the house, someone else has a £100K claim on it when you pop your clogs.
It looks like it is worse than that- you never own the house at all. From the HFLP website- how it works:
Homewise purchases the property of your choice at the market value.You get life tenancy ( or till you go to carehome)
You pay for a 'Plan' with an upfront fee and get a share of proceeds depending on when it sold.
But it looks to me like you NEVER legally own even a brick.
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Attention Investors?
http://www.rightmove.co.uk/property-for-sale/property-36059317.html?premiumA=true
That's "attention !" as in French I presume?
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He is right so far as people are also happy to assume that if there is no debt there are also no assets so:
As far as your pension fund owns some of this debt - your pension is worthless
and also
so far as your pension fund owns companies that own some of this debt ( pretty much all the major US players), your pension is further reduced.
Obviously since no-one ever needs to draw on their pension assets, there is no need for them to worry their pretty little heads about the debt. Well, I presume that is his undelying argument, isn't it?
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Going back through time I found there was always a place to be if you had the benefit of hindsight. Except during the 1930's, there wasn't any place you could go to get the bubble. After searching to find the next bubble I wonder if this decade will be a repeat of the 1930's.
I think he place to be in 30s was arms production- just not a visible bubble
So I'm going with Sossij's
Bio-tech weaponry -
They'll blame any high inflation on unexpected, arbitrary, one-off factors - as they have been doing for the last 3 or so years - and continue to print.
It's now a fundamental part of economic strategy that the structural deficit is printed up by the BoE and laundered by 'borrowing' at ultra-cheap rates through third-party Gilt buyers. This isn't going to change just because of some headlines that petrol prices are going up ... prices have been going up at a shocking rate on the essentials like food and energy ever since QE and bailouts started and it hasn't stopped them from printing three hundred and seventy five billion pounds (to date) as well as all an unlimited amount of cheap central bank loans to banks.
+1.
It is not like they didn't know this would happen when they started QE. It is a simple equation; increase qualtity of money thus devalue currency thus costs of commodities (hard and soft) increase in longer term. Only reason the devaluation doesn't show so clearly is because US etc have done the same.
Carry on like this an ultimately large groups of your population can't eat. And then ...riots...social breakdown... guillotines in the streets.
It is hard to believe a western government in 21st century could deliberately and knowingly do this to their country... but the nature of those who choose to rise to positions of power and influence is that they are driven by the need for that power and influence so their short term greed will always win over the long term sercurity of the nation. It is the human condition. In fact -when you look at it in that light, QE or its equivalent, was as predictable as its consequences. Sadly.
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It certainly isn't in keeping with the houses either side, but from what I can see of them that can only be a good thing.
Auctioneers Packed With Bidders
in House prices and the economy
Posted
You can tell what a genius he is by looking at the bathroom. If you want to bath with someone, you want one big bath, if you don't, you want two bathrooms. 2 baths in one bathroom is just surreal.