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House Price Crash Forum


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Everything posted by Cogs

  1. Indeed, what is The Times going with? Don’t panic: not all mortgage rates are going up !!!
  2. I think you will see that the Tories have picked the wrong man to do the wrong job at the wrong time. Yet again. Their more substantial back "roster" (IDS excluded on the basis of being terminally useless) would be perfect now, but they were thrown against Blair at just the time their brand of politics wasn't wanted in much the same way that post-Blair Cameron's eco-blathering globe trotting Islington dinnerparty set twaddle is already out of date. William Hague is still on the front bench and will tear Gordo limb from limb if he gets the chance, alas, only for "Dave" to ineffectually fail to deliver the coup de grâce and allow The Clunking Fist to get back to his feet. If things do get nasty I think Brown will be the more attractive candidate, and the Tories can only blame themselves for this with a lack of vision as they have tried so hard to portray him as dour, miserable, Stalinist etc. Nobody wants a kill joy when things are going well right? In a time of crisis the last thing most people are going to decide they need is an Old Etonian windmill enthusiast mincing about hugging hoodies.
  3. Increased specialisation within the economy leading to greater efficiency says "Revise Economics: Updated for GCSE Edition" circa 1991
  4. I'm not sure about that. That would suggest that in the housing stock at large there are as many 4 and 5 bed detached houses as there are flats and terraces...this hasn't been the case anywhere I've lived although I'm prepared to believe it might be true in the "stockbroker belt" down south? The average house price need not correspond to the "average house" anyway, I'd expect flats are traded more often.
  5. Still does doesn't it? In fact arguably this trend is increasing, a lot of professions seem to be constantly reviewing and tightening their accreditation schemes (normally to disadvantage younger applicants and preserve the earning power of boomers as usual...but I digress). Although to be fair the shift was 20 years or so ago, not now, when the "barrow boys" were waving "wads" around in winebars. That was around the time it became apparent to many that the (by comparison stagnant) professions were no longer the best way to become upwardly mobile.
  6. I was thinking you could put it in the back of a converted lorry half-hanging over a precipice in the Italian Alps. I know some bullion thats been safely stuck out there for 38 years now...
  7. Capitalism all the way up, central planning and socialism all the way down. Money gets sucked up the strata, the sh1t sadly has the opposite trajectory.
  8. http://www.youtube.com/watch?v=qRw3BHnSoWc ...I think this is possibly the most disturbing thing I've ever seen.
  9. I'd reword that a bit: The miracle economy has lost faith in Gordon's Darling.
  10. Join the back of the queue! Actually it depends where you live, national picture is massive queues in some places, vacant plots in others. Contact the council (should only cost 20-odd quid a year, the "investment" is in backbreaking toil and horse manure!).
  11. On the Financial Sense podcast there was a chap talking about this two weeks back (Richard Bookstaber). He mentioned that owing to the way in which funds were operating they were forcing unrelated assets into correlation just because they'd bought both because they were "uncorrelated". So something affecting one has implications for the trading of the other owing to the fact of who owns them and how they've structured that relationship rather than anything else. Which is somewhat ironic really I'll admit to not understanding every single word but it was basically on similar themes to the linked article only he goes a bit deeper and looks at the arcane "instruments" he suggests are causing these distortions.
  12. I assume you are using special £50 an hour chartered accountant's sums to work that out?
  13. You'd have thought a well-known beat combo might have had a crack at a jaunty song along those lines before now... Have you seen the bigger piggies In their starched white shirts? You will find the bigger piggies Stirring up the dirt Always have clean shirts to play around in In their styes with all their backing They don't care what goes on around In their eyes there's something lacking What they need's a damn good whacking!
  14. I don't know if its available anywhere, but there was a superb adaptation of it on Radio 4's "Classic Serial" broadcast around Easter this year. Best thing I've heard on radio in quite some time (I know in this thread I'm sounding easily impressed but generally I'm a miserable old so and so). What was interesting about it was that it treated Orwell as what he was, a public schoolboy who'd been around a bit but was still relatively inexperienced, and of course there are also questions about whether he was merely a "tourist" that the contemporary reader would feel a little uneasy about...so it treats him as a character in the story as well. It also reverses a few of the adjustments to reality Orwell made in the manuscript, but not all of them.
  15. I'm a fan of Orwell's journalism primarily but I think "Coming Up For Air" is under-rated and actually his best novel by some distance. [And EVERYONE should read Down And Out In Paris And London, still relevant today. When people start saying everyone gets 50k a year or they are bone-idle or whatever, I'm often reminded of it, for example the way cold sums about minimal amounts of money needed to live never work out that way in real life, the indignity of unemployment etc.]
  16. "Ever improving location" What a brilliant bit of EA-speak.
  17. Just ignorant I guess...does that make you feel like a bigger man? Its an utter rip off when it comes to a basic shop. If they want to stock more expensive beef of whatever (although I'd use a specialist for something like that anyway rather than a buy something in a plastic box), fair enough, I don't see how you or they can claim Heinz Baked Beans or Gilette Razors or bog roll or Colman's Mustard is somehow far superior for being sat on a Waitrose shelf and "cheap and nasty" on an ASDA shelf. Are Waitrose Gillette Razorblades made from special ethically produced steel from Sheffield whereas everyone else's comes from India? That is just pure snobbery, the same as people will pay more for a pair of training shoes in Debenhams you can get across the road in Sports Division for half the price because they don't want to have push their way through the chavs.
  18. Had a particularly abrupt lesson in this as our local Somerfield became a Waitrose. They certainly refitted the shop nicely and replaced the former crew of franky rather rude slackers with busy young things big on the "sirs" and "madams". I did notice a few things were looking a bit dear...but I had a nasty shock at the checkout when my usual low 20-something pound basic shop weighted in at over 30 quid! Apparently good manners do cost something after all: an extra ten pounds! I think I'll start going the extra couple of miles to the ASDA instead.
  19. Yes because 15% off is much better than buying last year with a lower IR in a rising market with accomodative lending practices? If you were going to beg, steal and borrow they'd have done it already. "Afford" is the operative word here, it isn't all about price, its tiresome to do the sums but higher IRs, requirements for higher deposits etc. would mean 15% off is no more affordable. A wider issue is that in the mania plenty of people who shouldn't have bought did buy and went in well over their heads (more obvious in America but I don't think we are far different). This exaggerates demand and it won't be there in a falling market as a hairdresser might get the idea that taking out half a million in loans isn't really appropriate on a 15k salary.
  20. Yes same here, up to 9 years now, almost to the day. The picture is very consistent actually amongst my cohort. If the bank of Mummy & Daddy is on-tap and offspring have no shame = they've all long since bought. Everyone else = not a hope in hell, a roughly 50/50 split between those saving like mad once they were in a position to earn enough money for it to be possible to save meaningful sums (I'm in this group) and those who have basically become nihilists as regards the whole issue. I think that latter group aren't mentioned here often enough actually, discouraged bears do not necessarily become bulls and much of the assumed "pent up demand" has long since given up on the whole idea.
  21. Did anyone hear Today this morning, 7.30ish (I think it was shortly before Thought For The Day for anyone willing to try Listen Again)? Evan Davies was co-presenting today. A chap came on from a hedge fund and said (paraphrase slightly, was in the shower): "In the past people have borrowed money to invest in property to rent, this sort of investment is no longer viable and so..." Evan gave his trademark nervous snigger but didn't disagree and let that passing remark stand. The "in studio" guy, a fund managing Bonham-Carter no less, didn't disagree either but discussed the stock markets repricing of risk, short-term volatility on the cards, not the end of the world though, reasonable fundamentals in the UK markets but keep an eye on the US etc. etc. To be honest I'm making him sound like a ramping VI but he was taking a balanced view and saying some where positioned correctly and some were not. As regards housing its all getting rather blunt on the BBC of late. The remark above would have been leapt all over a few months ago, now it went without comment.
  22. HPI: "Paid" to buy this week instead of next. You wish you'd bought yesterday. HPC: "Paid" to wait until next week. And "next week" never comes.
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