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volvos60

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Everything posted by volvos60

  1. If I were living in mainland Europe, & I had substantial funds, I would be panicking right now. I'd want to get out of Euros. There are 6 realistic possibilities: 1. US Dollars - with massive QE, this may not be a good option 2. Swiss Francs - maybe 3. Sterling - maybe 4. Gold - maybe (lets not spark a gold debate here) 5. Property, not really, it's a falling asset class 6. Equities - probably not, going to be very volatile To be honest, many will see Sterling as a good option. The result will be a strengthing pound, cheaper imports, lower inflation, interest rates held. More printi
  2. If Spain goes pop, & there are insufficient funds for a bailout, do we think Santander could survive? - How strong / diversified are they? Would the British government step in? - after all, they own Abbey, Alliance & Leicester & Bradford & Bingley - would be catastrophic for the UK if they go down. Seems to be a question the UK press are avoiding right now Discuss?
  3. So 20p pieces without dates are worth around £50 - is the hyperquantitative easing? Ah, but what about those 20p pieces with dates? - this time next year they'll be worth 15p.....
  4. Can someone clarify exactly what is the qualifying age for this scheme. My car was registered in Mar 2000, does it qualify?
  5. Opening a Tesco internet account is so incredibly complicated & long wnded that I am sure many simply give up. They really need to get their act together.
  6. Best analogy I heard was a car with no brakes & bald tyres heading for a wall, & with a drunk at the wheel. The government has just put more petrol in the tank......
  7. Just caught up with this thread having been out all day - a few further points: 1. As sterling tanks, won't foreign investors come into the UK propery market, maybe propping up prices at some point? 2. Inflation, when it comes, will erode your cash value - this cannot be recovered once lost 3. Buy a property & it may still drop, for argument sake say 20%, but it will eventually recover, unlike cash
  8. I hear the deflation argument but not sure if I buy it for anything longer than short term. Sterling being trashed as it is will bring inflationary pressures. The so called quantitive easing will bring inflationary pressures eventually - if QE startes to reflate the economy & put the government in some sort of heroic light do you really think they will suddenly decide 'ah good, that's worked - lets withdraw some of that extra liquidity as it's job done' or will they conclude that even more medicince is even better. Sorry, but in 12 months time inflation will be the problem & interest r
  9. Does anyone else feel the same - such low interest rates mean there is no incentive to save or keep substantial sums of cash - might as well spend it before it is inflated away - on a house maybe. This means Gordon has won. Does anyone else feel the same way?
  10. Closed my account with Anglo Irish yesterday - better to be ahead of the curve rather than fighting forever engaged phone lines once the run starts next week
  11. And if you want to stay liquid (i.e. in cash) where will you put your savings if not in a bank, albeit one paying the best interest rates you can get?. Foreign currency is a problem because not only are you buying at a low point, but you also have commission to pay on each transaction. Physical gold is not so liquid &, at the risk of starting a new debate which I don't intend to, when gold reaches it's highs just who, in a recessionary/deflationary environment will buy it off you?
  12. Retired people do not usually have mortgages - henced would not be forced sellers anyway, unless of course they had to release some equity
  13. A thought occured to me this morning - The US have reduced interest rates to virtually zero, here in the UK we are not far away from that & may also get close to zero. Therefore the cost of servicing a mortgage is getting very low, so there will be hardly any forced sellers, even those made redundant who would, in any case, be bailed out by the government for 2 years if need be. If there are no forced sellers is the HPC cancelled? If the banks stated lending again - a big if, because apart from anything else, the return for the banks will be so low that they might not bother lending anywa
  14. The more I think about it the more annoyed I become. Why on earth won't the Tories just put the ball in the net now they have an open goal. It makes me furious that their complete ineptitude to capitalise on this economic crisis is conspiring to make us put up with another term of Brown. This is unforegivable stuff from Cameron & Osbourne & I for one will never forget the damage having such watered down opposition is doing to all of us. This country deserves better, as does the Tory party
  15. The more I think about it the more annoyed I become. Why on earth won't the Tories just put the ball in the net now they have an open goal. It makes me furious that their complete ineptitude to capitalise on this economic crisis is conspiring to make us put up with another term of Brown. This is unforegivable stuff from Cameron & Osbourne & I for one will never forget the damage having such watered down opposition is doing to all of us. This country deserves better, as does the Tory party
  16. Shindigger is dead right regarding his comments about Brown & his motives. I am now wondering what will devalue quicker, my substantial savings or house prices. At least by buying a house I will have something that will not become completety worthless & will in time regain a decent value. If I stay in cash that gets devalued, it can never recover. It is making me very seriously consider buying a house now - perhaps that is the least bad option
  17. Lets wait to see the detail - remember so far we know it is a proportion of interest (not capital). On many occaisions in the past Gordon has grabbed the headlines & only later does it become apparant the detail not support the headlines, or the institutions refuse to play ball - could be that by waiting 2 years the property will be worth far less. Lets wait for the detail
  18. We've all heard the phrase 'Gordon is a Moron' - only a few on us know the real phrase is 'Gordon is a Mumser'
  19. Done something similar with an early Triumph TR but I run it as a company car as, because it cost me less than £15K, & is more than 15 years old, the benefit in kind is calculated on it's original new purchase price of about £700, so my tax bill on it is neglidgeable, running costs go through the company excluding fuel (get a mileage rate instead), there is free road tax &, oh yes, it does not depreciate. And of course, it is great fun. Job done
  20. All a bit puzzling, really. Many assumed Nationwide to be as strong as they come, especially as they are a building society & as such are not permitted to take on as much risk as a bank could. Lots of people used them to house their savings thinking they were safer than almost any other institution. Maybe the confidence was misguided. Bear in mind also that Nationwide would have been aware of the adverse publicity that would be generated when the held their hand up to participate in this plan, so one therefore should assume that there is an underlying problem & that they are being a li
  21. Without the guarantee more banks in the UK will fail due to depositor withdrawals, that's why it matters
  22. So The Irish, Danes & Greeks have unlimited guarantees on savings. The Germans probably do but our leaders are trying to suggest the guarantee is not quite what it seems - I suspect that it is a proper private savings guarantee but Brown is trying to muddy the waters to create doubt. Yesterday, Darling did not take the opportunity to offer an unlimited guarantee to UK savers. Over the next few days we will see the leaking overseas of money from UK banks. Do the forum think Brown/Darling will bite the bullet & make the unlimited offer to UK depositors or continue to hide behind vague
  23. Make your offer to the agent. If he says it is rejected then follow up with a letter to the vendor reconfirming the offer a week later in case the agent was too embarassed to actually submit it, even though he is legally bound to. Also outline you position & say the offer is open for acceptance for 14 days, after which it is deemed withdrawn
  24. The problem with this Irish guarantee as I see it is threefold: 1. If there is a significant influx of savings from outside, & a bank then does later fall over, the Irish government could never, ever make good on it's guarantee 2. The EU may yet outlaw this guarantee causing a policy reversal, or the rest of Europe will have to match the guarantee to stem the transfer of money 3. If either of the things in 2 above happened, the subsequent withdrawal would make the Irish banks all fall over like dominoes My own view is wait couple of weeks to see what happens
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