Jump to content
House Price Crash Forum


  • Posts

  • Joined

  • Last visited

Posts posted by laurejon

  1. If this poor person doesn't expect to pay for the services that his property benefits from then why should anyone else pay for them? The location that he occupies represents a unique opportunity for taking advantage of the local environment, in the free market taking up such a position and then abusing it amounts to a "misallocation of capital" and finacial loss. Yet in the housing market this sort of activity is celebrated, if he wants to use it then do so, if not then make way for someone else that will.

    If certain people want to block others then at the very least the latter should receive some sort of compensation for the opportunity cost.

    Nice theory Chairman Dave, no doubt you would also rename Trafalger Square to Tiananmen Square and bring justice to the working classes just like the Chinese did for their working classes, as did the Russians, and just about every other socialist despot who lived a life of envy failing to realise that it was their own personal failings that deprived them of economic success.

  2. Interesting that the writer grasps this:

    but then goes on to say this:

    Income is what you get from wealth creation, not from digging up bits of your country and selling it (that's more like capital disposal).

    Sorry I was misinformed, I thought wealth creation was digging up parts of other people countries and helping yourself for free having just blasted their women and children with state of the art munitions ? If thats not the case then I will certainly not be voting for a Labour party in the future.

  3. I think people who dont own a property should be taxed higher in order that they do not spend their disposable income on drugs and drink as is the case with most people who chose to leave society and not own a house in order to support their family expecting the taxpayer and state to do it for them.

  4. I propose an annual tax rate based on property value as the rate as follows: { [(1+0.005)^N] - 1} x 100% to be paid annually on each property owned where N is the number of properties owned.

    For those with one home of say £500k, they pay 1+0.005-1 = 0.5% so on a £500k house that is about £2500

    But if you own 700 homes at an average of £150k then you pay £477k for each house owned. That should stuff the Wilsons.

    I propose an annual tax on both income and assets of an additional 5% per annum on anyone who voted Labour in the past decade. Let the people who caused this mess and robbed our children of their right to live a decent life pay for it.

    In addition I would propose that anyone who voted Labour in the past decade serve 12 months military service in either Iraq or Afghanistan in order that they can mend the mistakes of their much loved political masters.

  5. No.

    If it was initially introduced as voluntary similar to when you book a flight you have an option to offset your carbon emissions, I am sure that after a year or so the Government would realise that young people are serious about climate change, serious enough to donate up to 10% of the value of their first home to the cause.

    I think this policy would attract many more First time buyers who would otherwise rent, this would in turn stimulate the housing market and the financial markets. In addition it would instill a degree of pride in young people, and would facilitate their involvement in the climate change disaster that they are so passionate about and working tirelessly to solve.

  6. Often overlooked is that the reason for offshoring goes beyond wages.

    Scenario: A UK Telecomms company places a contract with a company such as IBM. IBM service the contract in the UK with a skeleton crew to look good in the customers eyes, but actually use the bulk of overseas staff such as India.

    The invoice is sent to the Telecomms company for payment who pay the UK company, the Indian Company then invoices the UK company for exactly the same amount of money. UK accounts show no profit, India arm of the company operate in a tax free enterprise area, or a very cheap tax area in India.

    Its going on with lots of companies however with a Labour government they cannot even manage their own finances, let alone someone elses.

  7. With modern building techniques producing far more CO2 than the old method of building when it was done by hand using natural materials that were readily available.

    Should a new Environmental Eco tax be brought in for all First Time Buyers and those who have not owned for over five years, and then used in Green building projects ?

    The tax would be a one off payment levied once in a lifetime and ring fenced no matter what government is in power, to be used helping other first time buyers in Africa to construct green houses that are environmentally friendly and have little impact on the environment ?

    I think the passion and awareness the young people have today for climate change issues would ensure that it would be probably the only tax ever that people contributed to willingly and felt proud to contribute to further their cause of awareness of global climate change and the effects it has on the third world.

    An initial contribution of 5% levied along with stamp duty would make it a popular method of contributing to save the world. Would raise awareness in young people of the struggles people have in the Third World due to the Carbon Emmisions from construction.

  8. Yes you bears can run around giving yourself high fives now you have the answer that you have been looking for all these years. Just as long as you don't look at the scoreboard you will all be just fine.

    Did you also read the bit where he said it will take five years for a crash that would mean that it will have been twelve years on this forum warning about the impending ozzie house price crash. Like it says in the bible it comes to he who waits.

    I am now looking seriously at buying on the Northern Beaches of Sydney. My rent is over $600 per week and my landlord is going to up that to $700 when my lease expires in September. In fact he made me a cash offer to move out early in order that he can up the rate now!!!!

    With a little one now on the way for me renting is dead money, the Australian economy is now thriving, jobs are in abundance and we are hearing the same old cries from employers of skills shortage, which is a thinly veiled cry that they are now having to pay decent wages to retain and attract staff.

    Looked at a few places today in the 560,000 region and they are ideal first time buyers properties, albeit flats. In my view taking a punt in Australia is about as good as you can get in the entire world. Just a shame that of the 350,000 applications for residency from the UK each year are refused as I could do with some updates on the weather.

  9. I don't subscribe to pay any additional taxes.

    My proposal is to sack all the chaff that lives on our shirt tails in the public services. I would slash the salary of public sector workers who are in management positions and earn over 60k, and I would sack all the quangos in our health service.

    We pay far too much tax already, the solution is for the Government to make the cutbacks not us contribute more money.

  10. Its funny you should say Lloyds are ready for the next boom though. I have my current account with Lloyds and have always recieved an offer for a loan letter through the post every two weeks without fail, like clockwork. That was from when i opened the account (2003) until mid 2008, then for 18 months during the credit crunch no more 'take out a personal loan with us' letters, now just recently ive started getting the offers every two weeks again. The only conclusion i can draw is its Indisputable evidence the credit crunch is over.

    There is no credit crunch in the public sector, Lloyds just being one example of the economic miracle in the public sector economy.

  11. I wonder what happened to the Universal Bank that Labour were going to introduce. This would have supplied banking services to the "disadvanteged" because they were discriminated against.

    I think that is an election pledge for 2010.

    There is a list of pledges and promises currently being written by the Labour Party in preperation for the elections. I suspect the Do Nothing Tories are waiting for Labour to come up with the ideas so they can use them for their election promises :P

  12. I always wonder why the Poles have never taken down the Palace of Culture and built something of their own there, seeing how its a symbol of Russian oppression.

    I think it is because they are very lazy. Those that are not lazy have moved to other nations like the UK. Poland is a very backward nation however in ten decades time they are predicted to join the west economically and many citizens will be able to read and write.

  13. A truly heartbreaking story, imagine as a child not being able to go to Pizza Hut twice a month simply because your parents are now poor.

    The humiliation must be devastating. This poor family are now eating own brand foods such is their dire circumstances. The country is sinking to new depths when a security guard with three children can no longer afford for his wife to stay at home, having to take up a part time job in order to make ends meet.

  14. I am about to put in an offer for a house in which the seller wants "offers over....". I live north of the border.

    What percentage below the asking price should I offer?

    Anyone got recent experience of this?


    There are desirable houses, and there are sh1te houses.

    If you find that you are the only person interested in a particular property, that there are no other purchasers interested, then I think you ought to reflect on that fact and realise you are looking at something nobody else wants.

    The houses to invest in are those that attract a lot of buyers, they are the ones to go for, and you will have to pay over asking to secure, but will have a good investment rather than a white elephant.

  15. One example of how foreign aid hurts Africa.

    Imagine you are a farmer on your land in some backwater African province. Food supply is low so the price starts rising, meaning finally some real profit for you, and just maybe you can invest in expanding your farm, in new equipment, in fertilizers, whatever. With that new investment your production would rise. And hence the food production of your province would rise.

    But before that happens some aid agency notices rising malnutrition in your province. They come in and flood your little province with free food paid for by western donours. Now the price of food plummets down, and you are not able to meet the payments on your new investments.

    But in either case we manage to get their oil without which they would become empowered and God only knows where that will leave us all.

    Hard Working Families in the UK have no obligation to fund education in Africa. Brown is using public money to provide charitable contributions to his own personal interests.

    Its like me ranting about homeless children in London, walking up to you and helping myself to 300 quid out of your shopping budget for the month and then putting it in the Homeless Childrens Tin, then collecting my knighthood ten years later for services to charity.

    Its very easy to be generous with other peoples money, and as we have seen with the Labour MP's appearing in court soon for stealing from the public funds, Labour are very tight when it comes to their own money.

    For Gods sake the Labour party themselves are bankrupt, and they were elected to run the nation!!!!

  16. That is where many get it all wrong...what you have got to offer is not how much money you have got but what kind of person you are...believe me, men with power and money don't necessarily make for happiness....a partnership means both are jointly and severally responsible. ;)

    Maybe not, but Men with a house and money get a much nicer looking chick than men who live in bedsits and play computer games all day.

  17. I think youre looking at this the wrong way. We will pay the debt with assets originally paid for by the pre-boomer generation. Highways, metoffice, whatever else hasnt already been sold off.

    And that will raise a small portion of what is owed. Provided we can get through the recession which is only suspended due to the election, we can expect our children to begin the repayment that will take an entire lifetime, not to mention the reduction of services available to them such as health (Labour intend to bring in charges to those who can afford it.............that will be those earning over 5k pa no doubt)

  18. I am about to put in an offer for a house in which the seller wants "offers over....". I live north of the border.

    What percentage below the asking price should I offer?

    Anyone got recent experience of this?


    I think it depends on how much time you have to waste. Why not go to a high street shop and haggle 50% discounts on Tv's at least its a warm comfortable sorrounding and you can get a coffee at starbucks on the way home.

    If you were a serious buyer you would know your price, and roll the dice, unfortunately to most agents you come across as a time waster and would most likely get short shrift.

  19. Banks in Australia and New Zealand are sound by international standards, despite the global financial turmoil, according to two recent IMF studies.

    But the studies encouraged bank supervisors in both countries to step up stress tests to assess how well banks would perform in the event of a further deterioration of economic and financial conditions.

    Banks in both countries were healthy at the outset of the financial turmoil—which began in mid-2007 in the U.S. mortgage market and quickly spread to other sectors and other advanced economies—and the institutions continue to be resilient to the global crisis. Economic downturns in Australia and New Zealand contributed to an increase in impaired assets, but banks' capital ratios have remained well above regulatory requirements.

    Effects of the global turmoil

    The direct impact of the financial crisis on the quality of assets on bank books has been limited so far, especially for large banks. This reflects the small exposure these banks had to U.S. subprime mortgage loans and collateralized debt obligations (CDOs). Conservative capital adequacy rules imposed by the banking regulatory authorities and regular stress testing of banks also helped limit risks.

    The large banks are less leveraged than banks in comparable countries and financial soundness indicators have remained strong. The international financial turbulence reduced profitability, but major banks retained their AA credit ratings and the major banking groups were able to raise private equity capital.

    Banks did have sizable external debt obligations and there was a risk that this debt would become more difficult to roll over. Wholesale funding accounts for about 50 percent of total funding at Australian banks, and access to offshore wholesale markets was disrupted by the collapse of the Wall Street investment firm Lehman Brothers in September 2008. The four large banks in New Zealand, which are wholly owned subsidiaries of the four large Australian banks, similarly rely on funding from offshore markets.

    But the establishment of deposit and wholesale funding guarantees by the Australian and New Zealand governments in October 2008 and central bank actions in both countries to provide sufficient liquidity helped maintain confidence in the financial sector. Despite the most intense turmoil in international markets in decades, banks in both countries generally maintained access to capital market funding (both domestic and offshore) and experienced strong growth in deposits.

    Mortgage defaults

    Despite a relatively high share of loans to the domestic household sector, the analyses found that banks in Australia and New Zealand could handle an increase in mortgage defaults. Moreover, a number of factors tend to mitigate risks of a large increase in bank losses from mortgage lending:

    Interest rates on new and existing mortgages fell substantially from mid 2008, which makes it easier for households to service the loans.

    • A portion of the high loan-to-valuation ratio mortgages is insured, usually by third parties.

    • The legal framework makes the homeowner liable for remaining debt after repossession by a bank.

    • Only a small share of owner-occupied households belonged to the higher risk group with debt-service ratios over 30 percent of disposable income and loan-to-valuation ratios above 80 percent. For Australia this share was 7 ½ percent, and for New Zealand the share was even lower, at 3½ percent.

    Potential corporate loan defaults

    The studies look at balance sheet and market-based indicators to determine the danger to banks from their corporate loan portfolios.

    Balance-sheet indicators show that the corporate sectors in both Australia and New Zealand are sound. Leverage—whether defined as the debt to assets ratio or the debt to equity ratio— has remained stable and broadly similar to other advanced countries. Corporate profitability has improved considerably since the late 1990s and liquidity has increased.

    Yet, as the global crisis unfolded, balance sheets of nonfinancial firms across the globe began to weaken, including those in Australia and New Zealand. Market-based indicators such as spreads on credit default swaps (CDS) suggest that corporate solvency risks increased from 2008 through early 2009, in line with all the other advanced economies, but that those risks remain manageable.

    A contingent claim analysis (CCA)—which combines balance sheet information with prices prevailing in financial markets to obtain forward-looking measures of the risk of defaults—estimated that Australian and New Zealand banks' losses could amount to about 2 percent of total loans, based on April 2009 data. That performance would be better than that of other countries, both in the region and elsewhere. Indeed, since April, prospects have improved. CDS spreads have narrowed substantially, suggesting that potential losses could be appreciably lower.

    Assuring continued soundness

    By a wide variety of criteria, including market-based indicators and financial ratios, Australian and New Zealand banks are among the strongest international banks. Nevertheless, the IMF papers concluded, the Australian Prudential Regulation Authority and Reserve Bank of New Zealand should conduct more rigorous stress tests of their banks, given the severity of the global crisis. These tests should be conducted jointly across the two countries given their inter-connected banking systems.

    This article is based on two IMF Working Papers: "Australian Bank and Corporate Sector VulnerabilitiesAn International Perspective," by Előd Takáts and Patrizia Tumbarello; and "New Zealand Bank Vulnerabilities in International Perspective," by Ray Brooks and Rodrigo Cubero.

    Oh and I forgot to mention that we get to go to work on the ferry every day.


    To come home to a few jars in our local bar.


  20. ]

    I would not be so sure he will lose.

    Do you think that its remotely possible that the UK public would support a war criminal ?

    I wonder how Adolf Hitler would have fared had he been the subject of an election ? You could be right, there most likely are some remaining vile Labour supporting extremists left in the nation.

    I doubt however they would be anything like the majority, and certainly not enough to win an election.

    I guess the next question would be, how should the Tories handle it all when they come to office ? Should the Tories remove all traces of Labour such as was the case in Iraq with the evil Bathist party, or should the supporters be given an opportunity to hand over the money they stole from the working classes and let off with a life sentence ?

  21. That fact that he began to give the money in 2006 is irrelevant.

    The fact is that the UK taxpayer, hard working families in the lower earnings category (The only ones paying tax under labour) are shelling out money to Africa whilst their own families are turned away from hospitals, get mugged in the streets, houses burgled, and denied housing.

    Brown has pledged over 5bn of taxpayers money to ridiculous causes that we can ill afford each and every week since he seized power in a political coup some time ago.

    We can do nothing at present about his war crimes, his disregard of the working and middle classes in favour of his cronies, but come election time that is the one day where he has no choice but to listen to our voices. He will no longer be able to hide behind "I thought it was the right thing to do" when public opposition is so opposed.

    Get the fcker out of office and kick his sad ars3 back to Scotland where he will be warmly received by the SNP.

  • 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.