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House Price Crash Forum

Lord Lister

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Everything posted by Lord Lister

  1. What's the betting that there will be another big mis-selling scandal and for years to come you will be getting "were you mis-sold an iom" phone calls. Everyone gets to sue the banks. Some paper adjustments are made and some cash handed out. (Obviously the banks have time to adjust and borrow the required sums from the BOE) and the system is saved. HPC off again. God I ve become a cynic!
  2. Here is a beautifully graphic illustration of the derivative situation, well worth a look imo. Well worth a look
  3. We should probably do the same for al the high street shops struggling because of online competition, oh and small insurance brokers, travel agents, um well Im sure there are many other businesses being hit in the same way. of course they could all take a pay cut, that would also help solve their problem. Anyone else got any suggestions?
  4. I never understood why landlords/agents are allowed to specify no children? Surely there is some kind of "ist" going on there. You quite rightly are not allowed to say no old people, or no disabled, or no gay, or no Asian. How can they get away with it?
  5. Well, rightly or wrongly as the majority are home owners, if prices go up it would be seen as a recovery. Prices go up = money in the pockets of the majority, petrol goes up money out of the pockets of the majority. Not that I think house prices will be going up any time soon.
  6. It says in the article, takes into account inflation which official upbeat estate agent, rcs, LR etc do not.
  7. Don't think so. If it drops by a K a month for the next 50 months, then interest rates start to go up go up at .5% per month. You may find yourself if difficulties, but thats the gamble. Personally I sold in 2007, thought things may happen a bit quicker, like in the rest of the world, and have given alot of thought to buying. That said, I'm not going to, because I still believe we have a big crash to come and we are just at the beginning. UK gets downgraded, could be the beginning of a rapid decline. Trouble is, all outcomes are really quite scary!
  8. Yes I had the misfortune of watching a fairly recent episode recently in which she advised a couple to "go in really low" as the place had been on the market for a while without much interest, then then told them a price that was 4% below asking. I nearly spat my tea over the telly in anger. Of course the vendor bit their hand off and Krusty was all "arn't you lucky and arn't I wonderful. I could not believe what I was witnessing. When she said go in low, I was thinking yes, knock 25% off if they say no, walk away! It was a one bed flat ffs. Anyway, thats the reason I normally do not watch such tripe, just happened to this time as it was christmas and I was at a loose end.
  9. Just out of curiousity, what do we actually need banks for? What is their purpose? in this age of modern technology, computer transactions, cash points, online share dealing. What do they do?
  10. It makes perfect sense, ecb lends banks E641 billion at 1% for 3 years, banks promise to use some of it to buy gov bonds paying anything up to 7% (or more). Jo soap taxpayer pays the interest. Everyones a winner. Oh except for jo soap, but who gives a dam about him anyway, he'll do as he's told. If this plan doesn't work, they'll just tell jo soap to march slowly toward a machine gun. Who wants to lend me a billion £'s at 1% for three years? I'll pay it back, honest, and if I can't, I'll just borrow 2Billion off someone else then pay you yours back? you cant lose!
  11. OK but you have to get it in the back of your car (or on roof rack) lol if you happen to have a low loader.....
  12. Why we probably won't have defaltion: You are Mr Elite (or Mrs) you own £80m assets, £50m Debt, income from assets £8m, cost of debt £5m = happy elite 50% deflation across the board = £40m assets, £50m debt, income from assets £4m, cost of debt £5m = bankrupt elite 50% inflation across the board = £120m assets, £50m debt (assuming no paydown), income from assets £12m cost of debt £5m = very happy elite. What does Elite do? printy printy OK I admit very beer mat maths and doesn't take alot into account, but you can kinda see why printy printy may look attractive. Especially if, hyper inflation happens and you manage to clear you debt before real interest rates take effect, you end up with lots of assets, no debt.
  13. A local "Water Company" charity designed to look after the land around the reservoirs near me hold an annual christmas tree walk. At the end of it you can cut down whatever tree you want (and can fit in your car) for £5. Bargain!
  14. Are we going to have inflation or deflation hmmm lets see: You are Mr Elite (or Mrs) you own £80m assets, £50m Debt, income from assets £8m, cost of debt £5m = happy elite 50% deflation across the board = £40m assets, £50m debt, income from assets £4m, cost of debt £5m = bankrupt elite 50% inflation across the board = £120m assets, £50m debt (assuming no paydown), income from assets £12m cost of debt £5m = very happy elite. OK I admit very beer mat maths and doesn't take alot into accounts, but you can kinda see why printy printy may look attractive. Especially if, hyper inflation happens and you manage to clear you debt before real interest rates take effect, you end up with lots of assets.
  15. I could do with some new walking boots too, but herein lies the problem for Blacks, they don't sell a decent pair of walking boots. They used to be a half decent kit shop years ago, then they turned into a clone of Millets, low and behold they appear to be going bust now. Who'd have thought it!
  16. Having been moved on 3 times in the last 4 years may I say that Secure is not a word I would use for rented accommodation!
  17. Excellent thank you. So in short, if I owned a gov bond worth £1m, and it is due to mature, the gov needs to give me £1m, they don't have it, so they have a word in Mervs ear and he QE's up £1m out of thin air and buys the bond from me. I then go and spend that on booze fast cars and loose women, plus I waste some of it frivolously. In doing so £1m cash has been "printed" into the system. Does Merv not have to justify that issue somehow? surely it cant just be created, something must be sold?
  18. Thanks, that makes some sense to me, can you give me an example with figures. Say I am a bank, I have £5m in mortgages I have lent out which I want to sell to you as described below. Is it possible to give me a run down of who gets what (don't expect exact, just numbers to make it clear) How much does the bank get, who gets the repayments, how does everyone make money. Sorry to be so inane, but I have never really got my head around this and how it leads us to this incredible mess we are in. Thanks
  19. Can someone just define a few phrases for me (a little dim) What does securitise debt mean? Monitise debt mean? Probably basic questions, but would help me understand some the the conversations on here. Thanks
  20. I think Santander really do think the population are this doxy, either that ot their staff are. I had an isa with them, and decided to move the moneyt a few months ago. When I told the young lady in the branch what I wanted to do, she recommended I kept my savings in the isa and took out a loan instead, I asked why would I want a loan costing 6.8% when I had cash sitting in the isa paying only 2%.
  21. So if this was me, and I have a £50k credit card that I cannot afford to repay, have I just solved this crisis buy getting another cc with a £60k limit and transferring the debt, and taken out some insurance which says if I cant pay the debt, I;ll think of another way. Oh heck, I dont understand all this, solving a leveraged debt crisis by leveraging up more debt? Someone explain it to me like Im an idiot.
  22. Only allow building companies to hold onto to land for 12 months without developing it, if they do not start development within that time (and complete in a reasonable time) make them sell the land to housing associations at agricultural prices. That would both encourage building and stop those companies hogging vast tracts of prime development land, and claiming agricultural subsidies from the EU on said land!
  23. Hedged with whom? isn't that the point, they're all up to their eyes in it, and it's leaveraged?
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