Jump to content
House Price Crash Forum

Fromage Frais

Members
  • Content Count

    2,581
  • Joined

  • Last visited

About Fromage Frais

  • Rank
    HPC Veteran

Profile Information

  • Location
    Norwich, Norfolk, UK

Recent Profile Visitors

3,383 profile views
  1. Hilarious I work in hospitality and (pre covid) have an income in line with a dentist and I pay 3 staff over 35,000 (local average less than 27). We may be peasants now but when allowed to open a lot of people make a good living in such places. If you want a 9-5 job over 100k in Norwich its local council or hospital. As posted many times first job Kitchen porter 16 years old head kitchen porter in large hotel .... owned a crappy terraced house circa 20k in the 90s you worked full time you had a shot. When i view a house at 400-600k the sellers are often older folk wit
  2. Well then maybe a rush to houses is a sign that some feel inflation is coming..... Difficult to say as all this stimulation is pushing on a string as the world is clogged up with corona issues and overhangs... Take staycations what was £80 a night pre corona is now well over £100 a night but once the market snaps back.... best not to have made plans on that 100% full £100+ a night business model. So either "see through it" and the tax cuts where made to property stamp duty because underlying its screwed. or Its not and a lot of people will be locked into huge mortgages
  3. Ordering food and supplies for the reopen next week. Food UP UP Drink UP Supplies UP UP Recruiting going ok but if you do not have accommodation you are looking at 10% in experienced roles + Staff do not want to move due to furlough possibility. Staff still furloughed Even if you get offered a job on good wage no property to rent locally. Covid anxiety in customer facing roles if not worked before Inflation certainly near 10% and of course our prices will have to rise as a result.... which will do in the summer buy maybe not fly wi
  4. Yep I am viewing one today apparently six months notice they will need. sounds ropey but will see I am viewing the property for work purposes It is already impacting recruitment for me as new hires cannot find anything to rent and no new families coming in looking for work. I am all for rising wages but currently seasonal businesses have started to offer 20 percent more than usual for bar staff in some cases. Problem is they are storing problems for later as this is already on top of the wage rises in April. Once you do that everyone at once has a rise and if demand collapses
  5. I guess that depends on the currency. £ = financial repression and high house prices until the wider UK raises/collapses/tapers stimulous Euro = Low rates > Boom then collapse as they cannot MMT/QE their own currency as done centrally. S£ = High debts and commitments may well = higher rates = falls
  6. This and slagging off the people they need to get their hands on power. When I go oop noorth Labour is viewed as anti British or at least anti the British folk living there. The conservatives are more ideologically fluid and want power over purity. They also will face a reckoning as just as Labour are a city area posh party deluded its working class, the tories may well find that their new MPs and voters are not posh and their needs run in contradiction with the old guard and party donors. Labour are a bit ******ed at the moment two target groups which are pole apart.
  7. Thats what i cannot get my head around. Yes asking prices are up Yes dummies are paying 50k+ more for the same houses not selling a year before. But they say sales are up but there are literally so few houses for sale so more of a scenario of few rich chasing even fewer nice homes for sale. Yet apparently the transactions are through the roof so either that is a lot of delayed pandemic instructions going through at the same time.... or there is a lot of internal/restructuring transactions as investors incorporate.
  8. Yep i have also seen that some big names have elected not to pay rent. I assume this is on the I owe you x million you have a huge problem now negotiating position. Loads of empty units so can move about with ease also.
  9. https://www.thecaterer.com/news/hospitality-rent-moratorium-ends-job-losses-closures "A survey of UKHospitality members, which include over 730 companies, found 52% have not been given any extension to pay rent. Nearly three-quarters (73%) are either unable or don't know how to pay their rent arrears, and 40% have been unable to reach a deal with their landlord on rent concessions." Time for pain and any can kicking is just delaying the inevitable and its better for the staff to get looking in peak summer than in the winter.
  10. Sounds possible, I know in my area its all HTB for the young and the family houses are all equity driven. Rising prices beget rising prices in the larger properties around here thats why when it stops it stops dead. Normal people, normal incomes buying very expensive houses. The star is the house in the home counties bought in the 90's sell that for 600 and get a mortgage on top and live the dream.
  11. Whilst your are right this time it’s a bit exacerbated by low rates. I recently saw an escape to the country episode nurse and tennis coach house 700k in Norfolk. Those jobs pay the same or near the same in both locations. What makes the difference is the equity so once that goes so will this trend which will fall back to more sustainable levels. The folks whom bought in the 90s at affordable prices in their 20s/30s are now escaping to the country. So as a group the generation that bought in the mid to late 90s and sell up today are going to have a shit load of equity and also
  12. At the end of the day for whatever end banks are businesses and should be run for the benefit of their shareholders funds. It can sometimes feel (and maybe it is the case in gov owned/part owned banks) that they exist to foist debt onto people at the behest of the government. Thats the problem with the government trying to boost already high prices the risk folk just like us on here will be thinking hmmm 250k+ house at 95% LTV does not work on these low incomes. Also like us they may look at the big picture (have a better big picture as they can see defaults on existing custom
  13. The right answer My grandad same business as me similar sized business 80/90s if anything mine is slightly better and if both for sale today I am sure mine would go for more (hospitality with accommodation and food) Detached house sub 80k nice saloon xxk boat in Spain 60k flat in Spain circa 50k or less Me looking for detached house same as all above plus 100-200k I do have an iPhone though It’s all low rates and luck to be alive at that time of the cycle. Peak earning during high rates to low rates = winner. Peak earning at the time low rates to high
  14. I bet they delay it till December of sometime. However for a lot of hospitality the best time is going to be now over the summer and with folk being kept in the UK. If a system is put in now or by the summer to sort this out people loosing jobs can find others as there is a shortage/need. If its delayed till the winter non payers cannot argue that they will be able to use the summer trade and loads of folk will loose their jobs heading into the quiet season. Ominously I have 4/5 positions advertised one week ago less than ten applicants.... its now more than ten after 2 days o
  15. Drive down Unthank Road from the A11 one of the nicest roads in Norwich with lovely detached period houses 600 - 1 million £ Loads of Labour boards outside 0 conservative. Conservatives scared of oldies with their housing equity Labour scared of city centre rich and public servants whom directly benefit as they can often sell up and price out in the regions a la Norwich where the hospital and county hall are the primary providers of stable 50/70/100K+ jobs. On balance at this time the powers that be have decided that in both Con and Lab house prices need to be protected.
×
×
  • Create New...

Important Information

We have placed cookies on your device to help make this website better. You can adjust your cookie settings, otherwise we'll assume you're okay to continue.