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House Price Crash Forum


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About Rakno

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  1. Carry trade in GBP - I am getting 9.5% on a 9 month fixed deposit in India with HSBC. The extra benefit is that GBP is weakening against the Rupee so its a double win at the moment. Fingers crossed it will at least stay par over the longer term, (1 to 2 years). I know a lot of Indiains living in the UK are doing the same. Hopefully, the UK won't introduce any exchange controls for a while.....
  2. Your comments above are typical of people in the west, you worry about how you will be perceived over trying to get the lowest price. Remember the golden rule of negotiation, if your first offer doesn't embarrass you, it’s too high!
  3. I have started car sharing with two other people at work and now we are all saving money. If fuel usage has really fallen by this much, there must be loads of other people doing the same. Before car share, we were each doing 60 miles a day, mainly motorway, each using about £200 of fuel per month, roughly £9 per day each to work and back driving normally. We now pay £55 each towards the fuel, which lasts for a month, approx. £2.5per day to work and back. We achieved this with not only sharing the journey, but also driving more carefully as saving fuel has become a bit of an obsession, (we stay behind lorries at 50-60mph, anticipate traffic so reduce the need to brake hard and built up speed etc.). Also, we have an opportunity to chat over issues such as issues like HPC, big bang, religion etc. It’s great, just need to find more people travelling in the same direction.
  4. A few yers ago, she became my boss after being headhunted for the role. I handed my notice in after our first 1-2-1. Its amazing how far you can get in life not being that smart.
  5. LOL. My wife so wants to get them, but based on the comments on HPC, its never going to happen. I couldn't be in the same room with the twigs and not imagine a load of people pointing and laughing.
  6. Your post and the responses have been quite interesting. In my earlier career I had been responsible for making a lot of people redundant. I always approached my job with the mind set of never be scared of moving to another job/company, for what ever reason. This was because of the fear and stress I witnessed in the people that were about to loose theirs. They held on too long, stayed too long in one place and were scared of the outside world. This meant that if at any time, I thought my employer had the upper hand, i.e. I needed them more than they needed me, I would leave. This approach gave me a lot of confidence and control over my life both personal and professional. I wasn't seen by employers/colleagues as weak or as a sycophant and my opinions and advice were respected. However, during 2009, I spent almost a year unemployed as I left one contract but could not get another. This was really painful, psychologically, and as a result, I am not anywhere near as confident. Through a lucky opportunity, I have secured my current role and have been holding onto it with both hands. This has meant, biting my tong, saying the "right" things, sucking up and have effectively become a eunuch. This change in my mind set and behavior has changed my relationships with my kids and the fear and stress has fed down to them as well. I now have a chance to move to a much riskier position, not necessarily more money, but definitely better job satisfaction. So my approach is either stay where I am, unhappy, fearful and wait until one day, someone like, me comes along and fires me or screw security and take a chance and control. I know what I MUST do, as living as someone's bitch is not living. Nor is it a good role model for my children. I know now that if things go wrong, I can still get by, feed my family and put a roof over their heads as I am prepared to do anything to survive and the UK is not the third world, (yet). Bottom line, be careful that you don't let this decision change you as a person. Don't let the fear rule your decision making.
  7. I am going to exibit my ignorance here, under the same Sharia Law, if the creditor can not claim the assets, shouldn't the defaulting debtor have his goolies cut off or something? And if the creditor is a female, be wipped and shot in the back of the head?
  8. Your good news has lifted my spirits, (I've been out of work since Apr 09 for the first time in my life), and feel desperate. I have no debt, so it is not as bad for me, but after receiving the 300th outright rejection, you start to question yourself. You start asking "why did anyone give me a salary if I am this useless?". The worst thing is to look at your wife and kids in the eyes every day, knowing that you cannot provide for them as you once did. It really changes you and your family can see your confidence and self respect ebbing away. I am glad your parachute opened in time as I frustratedly tug at my cord and continue to plung. (And no, that's not a euphemism.......)
  9. A house, (under probate), on a nice plot came up for sale on Saturday for £625k. (Plan was to knock down and build a new home) I went to go and see it yesterday and found out I was the 11th person to view and another five bookings were arranged following my appointment. I put an offer in of 90% of asking price,(this already being 110% of what I think the place is worth but wife is desperate), and was told that they had ten other offers in excess of mine and they expect the final offer to exceed the initial asking price. I stressed that I am a cash buyer and the STR fund is ready to go within a couple of weeks - it counts for nothing apparently. The market has definitely picked up pace. If this is a bull trap, its a big one. Hold onto your hats, I think we are going to see things going crazy in the next few months.
  10. I glad you are on HPC, if nothing else, the Great British humour will keep me going through the next decade. Cheers
  11. The trick to living in the UK now is to borrow, spend and live it up. Don't worry about saving or working hard because if you are lazy and reckless, the government will look after you, no matter what happens. I never thought the bounce would last this long, but it looks like they have managed a soft landing by lowering interest rates to record levels(robbing savers), printing new money, forcing banks to halt repossessions amongst other actions. I assume it is going to be a long hard period of gentle inflation, lowering of living standards, rising crime and being screwed by the banks, whilst property pricing remain at this level. I can not see them falling any more. I really feel sorry for the FTB/people with little deposit, you are doomed and will never have your names on the deeds of a decent home unless you become a debt slave for the balance of your life. I have moved my STR fund out of the UK, now I am going to help my kids to do the same.
  12. I think it against the law to distroy legal tender. i.e the bank notes/coins actually belong to the BoE not you. Although it would help with deflation.
  13. I am in the same boat and have started the process. I have opened EUR, CHF, CAD and Indian rupee accounts with HSBC and am planning to use a third party with low commissions to transfer out of sterling. Is there an easier way? I thought futures market had a minimum of amount and I am scared of spreadbetting.
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