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House Price Crash Forum


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Everything posted by Timbuk3

  1. https://www.cnbc.com/2020/09/10/always-use-the-30-30-3-rule-before-buying-a-home-during-pandemic-says-finance-real-estate-expert.html Saw this and laughed. When you think about the multiples people in the UK are buying it makes the article seem almost ridiculous.
  2. They've been saying this for at least 10 years. Boris said it as mayor and yet " But the definition of affordable housing was broadened in 2011, with the inclusion of affordable-rent housing, so the figures are not directly comparable. He also reduced the target for affordable housing in 2011 from an average of 23,300 a year to 13,200 a year." He just changed the definition of affordable - old trick
  3. "England hangs off the map, half scrounger, half whore" some play or other.
  4. Only for the Mother. If I have two women on the go and both have two kids then all 4 kids are eligible to receive child benefit. Not that I would do this, that would be mad.
  5. Is that a second bedroom or just a storage cupboard, hard to tell. Carpet looks like the floor of a pub on Sunday morning.
  6. So Stamp duty saving just been added to the price by sellers. When stamp duty saving disappears prices will drop again by same amount - in my view.
  7. https://uk.reuters.com/article/uk-intu-prop-divestiture-trafford-centre/british-mall-owner-intu-puts-trafford-centre-for-sale-idUKKCN25801Z Trafford centre up for sale. Intu asset sale starts and so does price discovery for all commercial property. If the price of this sale goes through -20% as stated then all other similar assets will have to be marked down in value by a similar amount. Hence likes of British Land start to decrease their holdings etc, more people want to withdraw their investment and so becomes a vicious spiral of downward valuations. And of course the councils that have invested in the like will start to realise they have been sold a dooby.
  8. Bojo begging people to go back to the office - in The Sun. I imagine not many office workers read the Sun. More likely to be the Metro on the train in. But no one in my office is back in. They said it was voluntary, so about 5 people turned up out of 300. With the weather as it is no one is going in. Besides, the whole wfh thing proved we don't need to spend hours commuting and £400 a month to sit on a crowded train. No one is going back to that. Mass transport is over. https://www.thesun.co.uk/news/12334881/boris-johnson-get-back-to-office-on-monday/
  9. With recent announcements from M&co, William Hill, Pizza Express, etc about the hundreds of shops they are closing. Plus Disney just announced they are doing direct release to streaming services - i.e. no need for big cinema complexes, paying £8 for popcorn, etc. Just watch it at home. Will this be final death knell for the high st ? There are just too many shops in this country, no one needs them. I guess they will be converted to housing or other things. But, the local councils are left holding the bill.
  10. I'm told the bottom fell out of the market for that type of sex work ?great pun
  11. I think you're right, look for hidden cameras in the bedroom.!!
  12. Half a million quid to live in Stratford. FFS.. no thanks.
  13. It's the sheer audacity of these people that leaves me gobsmacked. For sure the council tax rates will rise to pay for it, but the people who instigate it walk away scott free or worse with a lump sum pay off. They should be prosecuted and thrown in prison as an example so that next time some lunatic comes up with an idea like that then they think twice about it. Iceland had the right idea to treat their bankers after the last GFC, we just gave Fred the shred a gold plated pay off. I wish people in this country would protest more about the accountability of these people.
  14. Intu the valley, intu hit the Skids, it was predicted.
  15. It's not looking good for them. The wider impact though is that other retail property funds and ETF's etc, some of which have blocked clients from withdrawing money for a long time now, will be affected substantially. If INTU gets sold off, as is looking likely, this will re-value all of the market in UK retail. Assuming that as it will be a fire-sale then the prices will be low and will drag down the price for all the market, thus the funds, ETF's will also keep falling, and becomes a downward spiral. Bit like Bear Stearns in 2008 affected the rest of the US property market.
  16. Doesn't look good for Intu if the below is true. https://uk.finance.yahoo.com/news/just-13-8-retail-rents-141000074.html
  17. Story on Reuters claiming 20,000 jobs at risk at the airports, but I think it's just to put pressure on the government to scrap the 14 day quarantine rule. https://uk.reuters.com/article/uk-health-coronavirus-britain-airports/uk-airports-warn-20000-jobs-at-risk-as-travel-slump-continues-idUKKBN23V1HC
  18. Also saw this in the Grundian https://www.theguardian.com/business/2020/jun/23/trafford-centre-administration-intu-lakeside-rent Can the landlord also do a pre-pack administration and ask the banks for a reduction in debt? It's like a game of pass the parcel and no one wants to get stuck when the music stops. I guess the tax payer will end up bailing them out.
  19. Used to live on a hill and when it snowed I could sit in the front room and watch all the rwd BMW / Mercs trying to get up it and then rolling backwards trying to avoid all the other cars. Meanwhile a little Nissan Juke or Sunny would be flying past them no problem.
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