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House Price Crash Forum

Pob

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Everything posted by Pob

  1. We bought one similar last year, a little early but due to financing etc and with the expected plunge in sterling vs euro we took the decision to go for it and in reality the fluctuations have held us steady. Currently a holiday home but with 6 acres the plan is to move out and become self sufficient. A few sheep, pigs chickens etc and with some great growing land (may need a polytunnel or 2) based on peat soil so very fertile we can grow all we need year round. Already planted a 30 tree orchard with nut trees and soft fruit bushes. With room to expand, no-one looking over us and space for our little one (cuurrently 1 year old) to run around without fear of peadophiles etc and busy main roads we are looking forward to it. Just getting the mortgage paid off on our UK house to act as a rental income to allow some money coming in so we won't have to work so much over in Ireland. Luckily both wife and I have skills that are required in Ireland and we could do some dabbling consultancy, working when we felt like it. Yes cost of living is high but with no council tax and low water bills (we actually have the option of our own well in time as there is a spring well on site) its cheap from that point. Small little community with a pub a mile away and whilst bear is expensive it is VERY cheap to brew your own from base malt (and very nice indeed). If you want to give self reliance a go and reduce your consumerism then it's a great idea and whilst immigration might be a problem in the east coast cities the West is still very small tight knit communities with very low immigration levels and a really friendly atmosphere of inclusion. Crime is basically non-exisent out the West and there is no need to worry about drugs and knife crime (we live near Bradford, Leeds, Huddersfield and Dewsbury and have a big problem with immigration and fighting between the various immigrants with knife and gun crime rapidly increasing). We live in a relatively nice place but the school I went to some 20 years ago has become a haven for drugs and bullying. Whilst Ireland has its problems it is certainly a place I would rather bring up my daughter in. If you however want to consumerise and rely on getting everyhting provided easily then the cost of living can be crippling. Just some thoughts.
  2. I think again people are making the mistake of assuming that increases in prices = profit. For most people increasing prices just means more wasted money on [email protected] and higher debt. More MEW and more leverage. Realistically the only people making real money on property are parents who bought back in the 1960's. This profit is generally only considered if they downsize or die. Neither of which I feel should be taxed. Also bear in mind that any taxation woud be duductable based on costs. So you could deduct all mortgage interest repayments agains any proft. You would probably find there wasn't much profit left after a 25 year mortgage. Don't get caught in the trap of "My house has gone up in value by £100 K so therefore I just made £100 K by doing nothing". No you haven't. You have an asset that has increased in value but until it is sold and you move into cardboard city you have'nt made a bean. My parents tend to do this with sharess, "we made lost x today on our shares". Not until they are sold. In the mean time they are as worthless as used bits of toilet paper (dividends excepted of course).
  3. Like labour now this was a vote candying move. Round that time home owners tended to vote Tory so she sold the houses cheap to allow the masses to become home owners and thus Tory voters.
  4. Don't even get me started on this one. I have worked in the labs where the proflligate waste occurs. They are paying PhD students £18K when others doing non medical research get £8 K. Why the difference, and no it doesn't have anything to do with ability. As to selling the house and buying the farm, she can do that but then she won't have anything in the UK to rent out and provide an income, and no I'm not a buy to let investor, just using the property as a savings scheme and investment vehicle whilst giving me somewhere to live. We are well off to be honest compared to the average but it really does wind me up seeing all the waste and benefits thrown at the bums. Ironically I am with you in the fact that I don't really blame the people for doing it. I have chosen a route that will hopefully elevate ourselves above their level and that is my choice. My point is that the government shouldn't make the choice available in the first place where people are able to have a better life by not contributing. If we were back in the jungle they would starve, or get killed after trying to steal someone else's food ..
  5. I would like to think that we have made some good choices and have the future we planned, nice retirement to a small farm (already bought nd paid for) out of the UK country to be exact. What galls me is that there IS this choice whereby you can take the easy route out and not contribute to society. If everyone decided to take this route then the whole system would collapse and anarchy would rule. I think she will actually have a poor old age as I'm convinced that she has made no provisions and whilst she will probably get a pension, whilst mine will be means tested and probably not happen, she will lose all her other benefits such as child allowance etc leading to a miserable life in the future. Society in general is degenerating as people on benefits have more kids just to get more benefits whilst the hard working decide to limit the number of kids so that they can be properly cared for and provided for. Net result is a degeneration of society into a workshy benefits culture. The ONLY way to turn this around is with readical reform to ensue that EVERYONE contributes to the society in which we all live. It is a known fact that benefits claimants are the most demanding in terms of public resources such as NHS, police, council services. Working people don't have the time or the energy to cause trouble and certainly can't use most of the 9-5 council services that are on offer. Over 3 million pounds was spent on the police hunt for the missing girl in Dewsbury. What have the people involved contributed to that, NOTHING, we are now having to further keep them in the lap of luxury in prison and then will probably have to supply them with new identities and re-location fees to prevent some retribution attack when they are released. There is no wonder the country is going to the dogs and why we have a nice little bolt hole in a foreign country ready and waiting.
  6. She did start working part time recently, although to my knowledge her husband still doesn't work and never really has done. I do know the mortgage is with one of these sub prime lenders. She also had a small inheritance recently so I assume, though am not convinced, that she used this as well. Based on the lax lending recently it wouldn't surprise me if she could have got a mortgage on benefits tho.
  7. So yet again the hardworking tax payers are further screwed over by this government. Why do we bother going to work to pay our mortgages on our nice houses that we have worked and done without to buy so that we can pay more tax and have more costs so that workshy bums can get further subsidised housing. Recently (2 years ago) my workshy bum of a sister bought her council house (nice large 3 bed semi) for £67 K when similar houses in the area were selling for £130 K. Nice nest egg for no work. She has never really worked and her husband, on disability for a bad back, could afford to go to the pub every night to play pool. Wife and I are having first child after very careful consideration and thinking due to our ages it is now or never. We now have a massive drop in earnings. People call us lucky but I studied on no money for 9 years with many sacrifices to get where I am and even then I aren't on huge amounts compared to London (30K ish). About 10 years ago my sister admitted it wouldn't be worth her while working for anything less than £16K. She has 3 kids and has no money worries, nice house, sky TV, new computers, new suite, new telly etc. She even sued the council at one point for extra money. :angry: When is this government going to wake up and realise that they don't have a bottomless pit to curry favour and gain votes through bribes and handouts and that these leeches are indeed just that, contributing nothing to society. Time for radical reform to sort out this mess.
  8. Too true. I have a friend who has had an egg card cancelled. Never used it BUT does have a 10K limit on it. He has IO mortgage and lots of other things going off. In financial services and I think they see it as too high risk that he may suddenly think "Oooh nice, another 10K of available spend now things have got a bit tight".
  9. Looks like the G7 are a bit spooked now. Yahoo business news FTSE doing OK tho considering.
  10. Admittedly tho they did get done for fixing phone votes and actually taking money off people. Do we not think in this forum of conspiracy and gloom that someone somewhere will fiddle the results if it is looking too bad. Wouldn't want people chokeing on their cornflakes.
  11. Hang on a minute!!!!! I thought GB and AD were calling for transparency last night at the big party they had!!!!!!! :angry: Damn turnabouts.
  12. Just found this. Mysinglefriend Well that must be the end of the property market then!!
  13. Aiming for it in 7 years having just bought another place after killing the mortgage on where we live. Not sold where we live but bought a small farm on west coast of Ireland (6.5 acres) for £105K. Planting it up with fruit trees now and plan to move out there once mortgage is paid (got mortgage on house in UK to make it easy). If it all gets too bad we sell up here and move out with no mortgage. With 6.5 acres we would be nearly self sufficient and with our transferable skills (microbiologist and nurse) we could work enough to pay bills etc. Kids on the way and not sure I want to bring them up long term over here. Only thing really stopping us moving sooner are ill parents. Don't want to be working myself into an early grave and having seen my parents plans for retirement go up in smoke due to ill health I want time to ejoy myself. (33 and 36 at moment BTW)
  14. Noticed that too. Very funny. We might have the teacher strikes too, certainly got the lack of funding issue.
  15. Don't forget VAT @ 17.5%. This is a prepared drink and as such is subject to it. We will have import tax on the coffee. Government getting a fair bit in actuality.
  16. We all of us know what a complete mess Nu Labour (Namely one Mr Brown) has landed us all in over the NR debacle. Just wondering on the possibility of a class action law suit against them for the 25 billion he has sunk into them. If bank charges are illegal then surely putting £1000 of my tax into a sinking ship just because it would look bad on them has to be illegal. Maybe we should get Martin Lewis (MSE) on the case. Talk about money saving, dropping our taxes by £1000 each next year would be very welcome for us all I don't doubt. He has taken on all the banks for charging feckless idiots known charges when they had a choice, we never even got asked if we wanted to be charged 25 billion. In this litigous society I'm sure we could get some "No Win No Fee" lawer onto the case, just think about the rewards should they win (40% of 25 billion). Even the European Commission is thinking it isn't legal. Interesting thoughts.
  17. No problem he can sell some of our gold to pay for it. Oh dear, seems he sold it all off cheap a few years since :angry: Can we really expect this complete numpty to do anything but mess it all up. Just saw him on the news in China and he looked completely bewildered. Didn't seem to have a clue where he was, let alone what he was doing.
  18. I too have been watching with great interest. No vested interest, just to say told you so to some friends. Consider it like the Titanic. We are headed towards a huge big iceberg but everyone on board keeps saying everything is fine and the ship is unsinkable. We are now just about to hit the iceberg and as with a car crash perception is that everything moves slower (this is where we are with the massive fiancial crash). However, one we actually hit, perception returns to normal, people panic, news spreads like a forest fire and the ship sinks very fast indeed with people throwing themselves off and grabbing onto anything just to survive. Some get sucked down with the ship, some manage to make it through but the key thing is from an observers point of view is that it all happens very quickly indeed.
  19. I currrently own 2 properties in UK (when I say own I do mean own, not indebted to bank baring a small outstanding payment on 1 of them <10K, equity around £250 K). Wife & I are thinking of having kids but we are both Professionals and earn decent money (even if 1 stayed at home to look after kids). We are looking at potential properties in West Ireland (Mayo) having become disillutioned (like many others) about the state of Britain. Whilst we are looking at using it as a holiday home in the short term it would give us a potential bolt hole should we require it in the future. Wife has an affinity with Ireland having had a Irish grandmother and spending much of her youth out there. We have recently seen a small farm (5 acres plus 5 acres of bog) with a 3 bedroom cottage for 160K euros asking price (although I am sure we can negotiate and would be looking at no more than 150K). I have a dilemma and would welcome views. We can easily afford the mortgage by borrowing against one of the 2 houses over here so we would be victim only to UK rates. A repayment of £700 per month would be easily managed as no other mortgage. The West of Ireland still seems cheaper compared to the rest and this house seems quite cheap in comparison to other like properties (old people moving in with family and wanting a quick sale). With a falling Pound vs Euro is it a good time to buy (a drop to 1.3 euro to pound would make a 10K difference itself) in case exchange rates become less fouvorable or do we wait and see if house prices fall or stabilise in the short term and save a deposit, as they seem to be in the rest of Ireland. This is not an investment in the grand scheme of things (i.e not wanting to make a killing on the property through increased value of property (although there is potential to build another house on the land at some point) but don;t want to lose my pants either. Has anyone got experience of what house prices have been doing in the West of Ireland over the past 3 years as on previous visits I don't recall that they have gone up stupid amounts like here. Views welcome.
  20. I certainly like the debtors prison part for the feckless idiots who aren't prepared to stand by their responsibilities and just want an easy way out. Have them making Russian dolls for tourists to pay off their debts. I have worked hard and sacrificed to get where I am whilst so many others have spent endlessly and will be looking for handouts and sympathy when it all goes wrong. Trouble is it's people like us who will end up paying for it all through increased IR rates etc for all and much higher taxes.
  21. I work around a number of large heavy industry and manufacturing sites in South Yorkshire are and have over the recent years seen a major downturn in numbers of companies out there (they have been struggling for years) Many numbers of these sites have been seriously affected by the river Don burst (most of them located on their banks for both cooling water and transport from a historical point). How long it will take these companies to get back to full production is anyones guess but I would suggest months (even with insurance payouts) due to damaged controllers, mud filled pipes, sumps etc. This is going to serious cripple a lot of these companies and I would go as far as suggesting that many of them may never recover, especially with the M1 shut for 2 days and the resulting effects on other business in the area. This is going to hit the UK economy seriously as the few things we do export get a kicking. If companies close there could be a number of redundancies and more benefits needed, in an area already struggling. Increasing interest rates will put further pressure on the system and result in more grief. This is only going to add to the many triggers out there knocking on the door of economic meltdown.
  22. Don't you mean act as a SCAPEGOAT!! No clearing this one up unless you mean in the same way that they are now clearing up the mess in Sheffield after pretty much everything has been wiped out.
  23. Based on the fact that Labour keep getting voted in and people are MEWing, BTL like crazy I would tend to agree.
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