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House Price Crash Forum

Sonic the Hedge Fund

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Everything posted by Sonic the Hedge Fund

  1. Aged 12 I was scolded by a teacher for stating that democracy is a farce, on the basis that most people are too thick to understand what they are voting for
  2. I agree with this totaly LA officers get treated like sh1t, and as a consequence such posts are near universaly filled with incompetant to55ers.
  3. I have made representations at committees, several times. It is a complete waste of time, committees are a circus act where councilors and officers take turns to duck difficult questions by repeating policy mantras over and over. By the time a plan gets to committee, the decision has already been made. Democratic accountability? Don't make me laugh.....my first hand experience tells me that local democracy is a farce.
  4. The Spanish are not stupid, they keep the best produce for themselves and send us all the [email protected] British tomatoes have texture & flavour, Spanish tomatoes in UK supermarkets are mostly just watery and bland. Not many folks know that in hot countries it is common practice to use part treated grey water (i.e. screened sewage) to water the crops. You take your pick
  5. I think these two idiots were made to look utterly stupid with their 'pwaperdee' doublespeak so clearly out of step with reality.
  6. I nominate The Image next to the 'magic roundabout' in Hemel Hempstead This is the old Kodak head office tower that is being converted into 'investment' flats. Kodak did well, selling a 1970's concrete monster at the peak of the market! Work has not stopped yet but it seems to be very, very slow, and rumours abound that off-plan buyers are trying to offload or back out, before completion! There are a number of other new BTL blocks nearby, mostly half empty. Ironicaly most of these were built on a large brownfeild site that had laid empty since the 90s downturn. I am hoping that this time the developers at least get the windows on before they go bust, otherwise Hemel town centre will be left with yet another eyesore for the next 20 years, as history repeats
  7. No, they have all STFU, most especialy the ones up to the eyeballs in IO mortgage who now find converstaions with me rather scary.
  8. Honey is a very labour intensive product, so it's obviously cheaper to import from places with cheap labour i.e. China, South America. My point is that UK farms can produce plenty of veg, meat, dairy, cerials & sugar - the UK is a net exporter of all of these. So we don't need to starve due to higher import costs - but we will probably have less choice for our money.
  9. Yes, I shop at ASDA and most of their food comes from the UK - Meat, Veg, Dairy & Bread - the only exeption is fruit, such as Bananas or Oranges. I think this is a question of choice rather than production capacity; supermarkets have increased food imports to enable them to offer seasonal goods all year round. Personaly I prefer to buy mostly British food and eat 'in season'. British food is very high quality - compare British tomatoes or strawberies with their Spanish counterparts - no contest.
  10. Thing is, this behaiour will simply kill credit stone dead. Credit conditions will return to the point where you have to prove credibility (i.e. by saving for years) before receiving any form of credit.
  11. Don't think it's as simple as that, houses are not the same as imports of energy, food and consumer durables. GBP has held up only due to relatively high IR in the global currency market. Therefore any sustained fall in the pound will cause carry trades to unwind fast, reducing avaibility of UK credit further, thus a fall in the pound may cause house prices to fall further, while consumer prices (imports) continue to rise. But IMPO consumer prices will no doubt follow the recent dramatic slide in comodities, due to falling global demand, so even a significant fall in the pound will likely be masked by globalised consumer price deflation Thus IMO it is entirely possible that we may see a fall in the pound, house prices and consumer goods all at the same time
  12. I think this is wrong, you should not confuse price setting by a minority of recent high LTV purchases with the financing conditions of the wider market. Not every house in the country has exchanged hands in the last few years. A clear majority of OOs have been in the market for decades and consequently many have sub 50% LTV, also a significant minority own outright. Also the high LTV loans are concentrated in the weaker banks - NR, B&B, HBOS, thus the more prudent institutions (HSBC, Nationwide) are less affected, and therefore in a very strong position.
  13. Not only dilution The plan is that the govt will exchange bailout funds for 'priority shares' which will give the government full control of the Bank, including IIRC the power to sack the board or cut their pay. Any bank that takes this cash will therefore be little better off than Northern Rock, so IMHO there isn't realy a bailout, just a political stunt that LOOKS like bailout.
  14. More to the point, what hapens to all their unsold stock? Fire sale a comin....!
  15. What industry are you in? My (high end Telco) workplace breaks down like this: 1) 10% Highly qualified (but often not practical) people who work things out - All age 40+ with PHD and upwards & top level (blue chip) experience 2) 10% Experienced (but not highly qualified) people who make things happen - Some with OU degree or more often, no degree at all 3) 80% Graduates of all levels who do the donkey work, and get paid a lot less than the non-grads above The 20% 'key' personel are an equal mix of both highly qualified and mostly unqualified, it's the ordinary grads in between who have the lowest value, so I tend to agree with the 'easy to replace' sentiment concerning these.
  16. But you don't actualy need a degree to be an engineer/programer/project manager etc. It's all back to front
  17. I have (experience of a recession) There is always work for those that are able, and more importantly willing, to do just about anything
  18. My favourite quote of the whole programe 'Its not people looking for a home, it's (borrowed) money looking for a home' Perhaps our Mr Henley has been spending some time on HPC!
  19. That would make the average price of a house (or is that the price of an average house?) about £70k Link A long, long way to fall yet!
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