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Everything posted by drrayjo

  1. Hi Redwing! Indeed it feels like an age. Or a very long tour of Bedlam. Hope all's well. The Blinco joint is certainly a good effort both at quart/pint potting and kite flying but until Great Kneighton etc. get completed I suppose we won't know where the level is, if one is ever allowed to materialise by TPTB.
  2. Oh and really, it's not the 2000 comparison that matters, it's that this property would have been very unlikely to have sold for £1M+ in any of the last few years (2007 was not the peak around here, and from local sales, top price might have been in the £800-900k range in 2012), so, if it reaches asking, it's more the 30%-in-a-couple-of-years thing that's of interest. If the fundamentals support that, why not £2.25 Million Pounds for a Victoriana semi in a poor school catchment of a prosperous provincial town in south east England by the time the next World Cup rolls around? Why not indeed.
  3. What's changed is that Cambridge is now indisputably London-on-Cam price-wise, and what's true of London's fundamentals is more directly true of Cambridge's than ever before; be that 'new paradigm', 'it's different this time' or 'tulip-mania' I no longer presume to judge.
  4. FWIW the narrow 2 storey rear 'half' of the building may well have been added, along with a ritzy kitchen (oh and a local big pharma HQ) but this is equivalent to 13% annual HPI for nearly a decade and a half!
  5. There goes the neighbourhood: http://www.rightmove.co.uk/property-for-sale/property-43869340.html
  6. Great post; can I quote? (I mean beyond this place)
  7. Is this the “Movimento 5 Stelle” (5 Stars Movement)? Led by renegade former TV comedian, Beppe Grillo, who roughly equates to a Bennie HIll/Dave Allen hybrid taking on the UK political establishment with a broad based, transparent People's Party? (I love the real world; it's mental). If so this is what an Italian contact of Mike 'Mish' Shedlock says of what Mish considers the 'ultimate Occupy movement': http://globaleconomicanalysis.blogspot.co.uk/2012/06/six-reasons-why-italy-may-exit-euro.html
  8. http://www.cambridgeshire.gov.uk/housing/newcommunities 25,000 new homes in next five years with ground already broken and hundreds near completion - 10,000 more should Marshalls move on. On current projections that's 5000 a year more homes (and a new school every other year) with roughly 60% family homes on the 3 main areas listed as New Communities above. That's enough for circa 10% of the current population as annual growth. I know there is job growth but even if this keeps pace, surely all this new supply will at least arrest HPI? Think how low the current annual family home turnover is.... Quality looks ok too; "Accordia-esque", at least in theory, at the giant Gt Kneighton site and the initial '7 Acre' subdivision: http://homes.skanska.co.uk/Projects/Seven-Acres/ Well, I've decided to be optimistic anyway; though we have also put in a reasonable offer on an 'underpriced' family home just to keep with the schizophrenic times!
  9. I'd just read this thread and decided to read my kindle. I fancied a change of book so checked Amazon's Daily Deal and found that HPC was following me around; at a deliciously deflationary price!: http://www.amazon.co.uk/Jilted-Generation-Britain-Bankrupted-ebook/dp/B0040GJ4J8/ref=kdd_page_button?pf_rd_m=A3P5ROKL5A1OLE&pf_rd_s=center-2&pf_rd_r=0N8WJEFSEAFJ8SG592V2&pf_rd_t=1401&pf_rd_p=288086567&pf_rd_i=1000577623
  10. I only look to see by how much prices have RISEN since last week. Family homes up more than 20%+ since 2007 in good areas on a huge supply squeeze. That's regional lotto. Patience Rip van Winkle.
  11. http://www.telegraph.co.uk/finance/debt-crisis-live/9021839/Debt-crisis-live.html
  12. Maintaining the economy (and "to be dearly desired" house price rises) is all about working into your dotage until your body parts decompose; if you have the audacity not to have saved hundreds of pound a month of your (oh so) predictable and secure wage throughout your 20s in order to buy a home which will be your pension. Though this is simultaneously made impossible because of high rental costs and restrictions (because of high prices) and the cost of raising children, the TV personality still prescribes early parenthood as a social necessity. All hail our wise advisors who tiptoe around the obvious alternatives and their own confused thinking like badly programmed robots of little brain RAM.
  13. ...also "Super Mario's" bluff; It's the Bond Bowser (for nintendo fans).
  14. Eurozone banking system on the edge of collapse The European Central Bank admitted it had held meetings about providing emergency funding to the region's struggling banks, however City figures said a "collateral crunch" was looming. By Harry Wilson, Banking correspondent Last Updated: 11:20PM GMT 09/12/2011 The eurozone banking system is on the edge of collapse as major lenders begin to run out of the assets they need to keep vital funding lines open. Senior analysts and traders warned of impending bank failures as a summit intended to solve the European crisis failed to deliver a solution that eased concerns over bank funding. The European Central Bank admitted it had held meetings about providing emergency funding to the region's struggling banks, however City figures said a "collateral crunch" was looming. "If anyone thinks things are getting better then they simply don't understand how severe the problems are. I think a major bank could fail within weeks," said one London-based executive at a major global bank. Many banks, including some French, Italian and Spanish lenders, have already run out of many of the acceptable forms of collateral such as US Treasuries and other liquid securities used to finance short-term loans and have been forced to resort to lending out their gold reserves to maintain access to dollar funding. "The system is creaking. There is a large amount of stress," said Anthony Peters, a strategist at Swissinvest, pointing to soaring interbank lending rates. CreditSights' weekly funding report said the ECB had effectively become the central clearer for the region's banks as lenders are increasingly distrustful about funding one another. Bank deposits with the ECB now stand at their highest level since June 2010 at €905bn (£772bn) as lenders withdraw deposits held with their peers and put them into the central bank. At the same time, banks in major eurozone countries such as France and Italy have become increasingly reliant on central bank funding. This follows the trend seen in smaller countries like Ireland where lenders have effectively becomes taxpayer-funded "zombie" banks. Alastair Ryan, a banks analyst at UBS, said there would be "no Lehman moment" – or single catastrophic event – for the European banking sytem, but added that without a full backstop of bank liabilities by governments the system would "struggle to finance itself in the next year in a durable way". "The system at the moment hasn't got funding of a duration that allows it to function, so it's failing," he said. Others think the eurozone banks are heading for a catastrophe and the worry is growing that a major bank could collapse within weeks. The results of the fourth round of European Banking Authority (EBA) stress tests conducted in just under 18 months pointed to a €115bn capital shortfall in the eurozone financial system, with German banks showing the most notable deterioration in their core capital ratios. Moody's on Friday downgraded France's three largest banks, BNP Paribas, Credit Agricole and Societe Generale in light of what the US rating agency said were "liquidity and funding constraints". The banks' downgrade came despite Moody's acknowledging the three lenders could depend on a higher level of French taxpayer support in future. Two weeks ago, rumours abounded that it was the near failure of a major French lender that had been the trigger for a massive co-ordinated intervention by the world's largest central banks to shore up the banking system. The fear is the European authorities do not have the financial firepower to deal with the banks' problems. Analysts at BarCap say that even if the European rescue funds were able to raise €1 trillion of funding this would only meet the needs of the Italian and Spanish government and banks. The European banking sector's problems are being exacerbated by a wave of asset sales as lenders look to dramatically shrink their balance sheets. UBS estimates eurozone banks could sell off between €3.7 trillion and €4.5 trillion of assets in the next three years.
  15. ZH is huge now, as most people here know; tweets mentioned on C4 news, breaking stories quoted on Newsnight, T-Shirts available in a range of colours and sizes. Looks like Redwine may have overindulged on the plonk, or s/he's just a one blog/forum wo/man. Of course ones' average work colleague won't have the first idea what such a financial blog even is, but they may tell you very earnestly that they had seen a telly programme that said the UK had a lot of debt and there was this graph that proved it and it was very worrying because the lines below it were other countries. It's a very sloooowww wake up for Fantasy Island.
  16. Denial that they're seeking chapter 11 bankruptcy on Bloomberg now
  17. I feel like getting a 3.something percent 10 year mortgage, much to my chagrin.
  18. Would the bond markets deliberately sabotage the euro in order to play a pro-dollar long game if it might lead to a chaotic depression; are they really that reckless and rigged?
  19. I've heard this 'meme' before, extended to imply it's all a Washington plot. It may be true that the US fears/feared a new Euro-led world but how can it be credible that it somehow manufactured this crisis which is based on home-grown political and economic problems?
  20. Grizzly, grey George Magnus and his gruesome "gulp" comment; Emily Matliss' nervous glances at "barrel of a gun"' Balls and Mason's list of the damned, with hints of war and a completely fatalistic pair of Greek and German bookend economists offering no hope... A horror show.
  21. Right on! Refreshing... The place was already derelict and roofless over a century ago, so good on the resourceful couple who didn't rely on ponzi debt finance. Perhaps as they save some more funds they will make further aesthetic improvements!
  22. Acting Commissioner's nervous public address heckled "You're losing control of your city mate!"
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