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Selling up

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Everything posted by Selling up

  1. Not necessarily ********, more likely simply a self selecting sample: By random chance you would expect some STRs to have done very well and some very badly, with most in the middle. The ones who have done very well are, naturally, more likely to post about their good fortune.
  2. Shelter have made it clear on many occasions that they are not campaigning for a fall in house prices, merely an increase in rip-off "affordable housing" schemes.
  3. Yes, although I say the whole thing is tedious, I do agree with this too. I'm not even working at the moment, I'm taking a year out to do a masters degree (more out of interest than for any career benefit) and living partly off my STR fund. Would be a hell of a lot more difficult if I had stretched myself by taking on a large mortgage on a dream property...
  4. I find the one showing a dog drowning due to climate change followed by a little girl smiling as she dutifully switches off a single electric light to be utterly rage inducing. Because: Either it is true that climate change is likely to drown dogs (and entire towns) or it is not. If it is untrue, the advert is a lie. If it is true, the advert is pointless: we need to be doing far more than switching off the odd light. It is no good to postulate an apocalyptic threat, and then to propose piddling little preventative measures which will make no difference.
  5. Very much agree with the OP. I'm a cash buyer and will carry on waiting until I think I've found good value. If the market continues to rise, and I give up waiting at some point, the worst case scenario is either buying somewhere less nice or having to take out a (probably) small mortgage. "I'm waiting... I can wait all day if necessary..."
  6. My fund of about £200k is about 10% up over 3 years, mostly from gold. This whole game is very tedious though.
  7. I doubt that many boomers (born in the post-war demographic boom 1945-57 according to wikipedia) have nursery age children! Edit: or is "boomer" just becoming a synonym for "them" as in "them and us"?
  8. No, Recovereh was making a very good point which it sounds like you may have missed. One bear posted the bearish news that transaction levels [in his town] were down from from 2700 ('06) to 800 ('09) Another bear posted the bearish news that the proportion of IO mortgages was up from 45% to 55% and these people were vulnerable. But combine these figures and the number of people taking out a "vulnerable" IO mortgage on today's low interest rates is low compared to the people who were taking out IO mortgages at high IRs: IE there are not many vulnerable people/ Pre-crash (say 2006): 2700 transactions, 45% IO: 1215 people taking out IO mortgages at a higher IR Post-crash (say 2009): 800 transactions, 55% IO: a mere 440 people taking out a "dangerous" IO mortgage ot 0.5% IR. So Recovereh is right. The fact that transactions are massively down minimizes the impact of the small increase in proportion of IO mortgages.
  9. Nobody's pointing out that it's also environmentally insane. How many decades will it take for the energy used in the construction of new buildings to be "paid off" by the presumed energy efficiency of the new buildings?
  10. Although one may think the language used is disingenuous, the point has to be made that the pensions system was not designed to be paying out for an average of 20 years. To me it seems regrettably inevitable that pension age must rise, and therefore that enforced retirement at 65 is untenable. (Current life expectancy at 65 is 19 years: see http://www.statistics.gov.uk/cci/nugget.asp?ID=168)
  11. It's certainly a pretty stupid way to do things. An asking price has a purpose: it tells you a price at which your offer will probably be accepted. Offers below it may or may not be accepted. "Offers in excess of £180k" implies that an offer of 180k will probably be accepted. Therefore offer less and see if it's accepted. "Price guide £150k-180k" implies that an offer of 150k will probably be accepted. Therefore offer less and see if it's accepted.
  12. Thanks all. Any answer to the question of whether this would affect the safety of bank deposits or National Insurance savings?
  13. Hi all I don't post much these days but I do lurk now and then to see how the wind is blowing. Lots of talk about sovereign default / sovereign debt crisis. Can anyone paint a picture for me of what a UK default would look like? Is it a Mad Max scenario or a rerun of the 1970s or... ? EG Would state employees still be paid? Would bank savings be nominally safe? Would National Savings deposits? Would daily life for most (working, shopping at the supermarket, etc) continue as usual? How would it affect inflation and interest rates? and any other consequences I've missed. Many thanks SU
  14. I used to post here a lot in 07-8 till I decided I should stop wasting so many hours. Just lurk occasionally now. Back befor Northern Rock etc I predicted 50% real falls. I still think that's realistic. Bloody tedious waiting though.
  15. I don't usually post on HPC these days but can't resist a chance to point out one of my logical bugbears: "Religious intolerance" is not a good phrase to use. "Intolerance" and "tolerance" are meaningless words in that all of us believe in tolerance in what is tolerable and intolerance of what is intolerable. IE it is the values that are at issue, not the question of whether we "tolerant" or not. "Giving up religious intolerance" means exactly the same as "giving up religious tolerance": It is not the tolerance or intolerance that are at issue, it is the values that are to be tolerated or not that are at issue. Both phrases mean giving up religious values. Fine if that's what you want (it would be what I want) but calling it "religious intolerance" muddies the question of what is at issue. Similarly, fighting "liberal tolerance" or even "liberal intolerance" means fighting liberal values. etc etc etc
  16. Except that, as mikthe20 points out, 9000 people did not apply for the cabin crew job. They merely downloaded information about it from the internet. The headline of the original article is shockingly misleading.
  17. That seems a slightly pointless thing to say since it applies to every sellable object in the world. Gold, bonds, property, 2nd hand books, shares...
  18. Oh dear. Seems I should have put a smiley to show that I was making a joke. But I hoped it was amusing enough not to need one. Edit: If not, the point I was trying to make is that it does not follow from "50% of medical care is spent on the last 2 weeks of life" that "we spend too much on the elderly", since those last 2 weeks are defined by an event - death - that can happen at any age. Now it happens I believe that we are too interventionist in the very elderly - but the statement "50% of medical care is spent on the last 2 weeks of life" tells us nothing about age.
  19. That's because at least 97.3% of all deaths occur in the last 2 weeks of life.
  20. Fellow pundits, it's time for me to leave the forum. HPC has been inspirational to me and confirmed me in some decisions (STR Jan 07) that I think will prove wise. I am still renting and intend to do so until I can buy the property I want outright. But.... Bulls often say to STRs: "Why put your life on hold?" Well, I don't think that renting is wasting my life. But I do think that spending so much time on this forum is wasting my life. I've gone cold turkey the last 2 weeks and found that I can do without 1-2 hours daily of reading about housing. However I decided to post one last post saying goodbye since I feel like I know some of you by now! So don't worry. When you fear that all is topsy turvy with the world, that the game is rigged in favour of the wrong people, take comfort from this thought: Selling Up will be sitting out there somewhere... not buying a house.
  21. It was with hindsight an incredibly arrogant thread. Talking about "feeling sorry for the sheeple", even when indices were showing huge YoY growth. I think none of us then really believed how far the game was going to be rigged in favour of homeowners. Had we known, we would more likely have felt sorry for ourselves!
  22. A very interesting point of view. However I think it is a bit unfair. There is a more obvious reason than profiteering that rising prices would make fence-sitters decide to buy: Suppose they want to own a house for non-financial reasons (eg security of tenure)... rising prices may well make them fear higher future rises making it harder to own one in the future. I bet that goes through more people's heads than the desire to profit.
  23. In your 30s / 40s? Are you crazy? Well, okay, if you're female and 40 I grant you that your reproductive choices are now substantially diminished. If you're male then you're talking rubbish. WTF is wrong with being in your 40s? This housing bubble may have made certain desirable opportunities unavailable for you. However if you are blaming the housing boom for the sense of failure you seem to attach to your whole life, can I suggest that your problems run deeper than happening to live in a time of high house prices.
  24. I believe this thread is a pointless semantic argument. Who cares what convention of naming we use? Current convention says that we use the phrase "my house" to refer to the house a person either owns mortgage-free, owns with a mortgage or simply lives in... even a renter will say "Come to my house at 7". Sometimes I talk about feeling ashamed of "my country". Doesn't mean I'm claiming to own it. What's the problem with that? Suggest you all turn your attention to things that matter.
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