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House Price Crash Forum


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Everything posted by ReggiePerrin

  1. It would be better for everyone if they stopped trying to 'fix' the flipping housing market. If RICS/VI's are now proposing damping down HPI then they'll expect the BOE to stop HP deflation. The way we're going the Government might as well just price all houses, that way they can fully control the property market, e.g. I want to sell up, I go to the Council to get my property valued, that's what I can sell it for; no more/no less. This way they can fully control HPI... simple but total madness (so no change there then) This reminds me of the late 80's when they declared that MIRAS was being scrapped 6 months before the date this was to be implemented, people went nuts to buy before the date MIRAS was to be scrapped; now we have a rush to buy before HTB2 kicks in and house prices become much less affordable. This ain't going to end well edit- typo, I can't smell property
  2. Good video, thanks for posting If you replace 'ERM' with 'QE', 'Pound' with 'Gilt', etc then it makes a good docudrama about what's to come
  3. Oh don't get me wrong I think IOM is a ticking timebomb, it's going to be a massive problem in a few years time.. it's best to get anyone on an IOM onto a repayment mortgage ASAP, if nothing else it'll flush out those with no savings/investments in place to repay the loan at the end These sob stories have only just begun, especially if interest rates stay/are kept low, we get another recession in ten years time , ... i.e. all things that will hit IOM rrpayment vehicles hard. Plus I wonder how many people calculated how much they needed to save each month based on 5% interest rates, which were common place in 2007? (in 2009 my cash ISA paid 7%.. happy days)
  4. If they have an investment plan in place that will cover the cost of house, then raiding the pot early will cost them £1000's, increase the time to repay the mortgage etc... it's all about compound interest and all the jazz, which is great for savers, but kills 9 out of 10 borrowers.. the housemarket is a real mess edit to give example:- £120,000 @5% apr after 8 years = £177,000, that's with no further contributions and interest reinvested, so they 'lose' £57,000 if they raid the pot now.
  5. True, but what's also true is that 100% of the population is now closer to death than they were yesterday, 0% of those who died own a house, and those aged under 55 who don't own a house are neither older than 55 or own a house. I love statistics.
  6. RM advertise Spanish properties... I wonder if they produce figures for the increase in their asking prices? If they did/do, I wouldn't be surprised to see that they've also hit new highs. Sellers are really detached from reality ATM, although it's not surprising given that reality seems to be detached from reality ATM.
  7. Perhaps they're using the figures to surreptitiously ramp BTL mortgages!? i.e. You make circa 200k on the rent after paying the mortgage off, plus have an asset valued at £595k. Total gain over 50 yrs 790k'ish.... easy money, and if/when it goes pear-shaped Barclays can't be accused of mis-selling. All it takes is for some numpty to believe this cods wallop ...
  8. For a 2008 event on steroids please pick one or more of the following:- 1. Spanish credit default 2. Italian credit default 3. Irish credit default 4. Collapse of the Euro 5. Collapse of most of the banks in Europe (as a result of one or more of the above) 6. End of forbearance by UK banks on those mortgagees in arrears. 7. Chinese recession (classified as <7% pa growth). 8. America electing a Republican President... fear of austerity will trigger another global recession. Why have house prices remained so 'resilient', that's a easy one 1. BOE base rate at an all-time historic low. 2. Widespread forbearance by lenders on those in arrears. 3. Money printing... on a scale not seen since the Weimar republic. These days they call it QEx, LTRO, or some other acronym Why can't house price inflation take off again? 1. No more LIAR loans, i.e. self cert. 2. No more 125% mortgages 3. No more cheap credit. 4. No more interest only loans. 5. No more >5x joint earnings loans 6. and finally, most tax rises have yet to hit home This Country has thrown the kitchen sink at the problem, they've nothing left to throw. So whilst people still think that houseprices will recover and are looking for 'opportunities' then I'm happy. Those of us who can remember back to the 90's when people were fearful of more price drops; no one thought of buying a second cheap house, because it was classified\certifiable as financial madness.
  9. I tend to order from a UK dealer who delivers it to friends of mine in Germany.. I then collect. I have to word this carefully.... I think if the dealer is registered in Germany, for example, and they charge you 7% VAT, then there's no problem. I did try to look this up on the HMRC website, but it's useless. hopefully there's someone around here who knows a bit more than me, alternatively, try a small order and see what happens? I was going to, as I'm after a couple of Canadian coins from their wildlife series.
  10. Nope; so long as you paid tax in an EU country, it's for personnel use and not for resale there is no further tax liability. You don't have to declare it to HMRC on entry to the UK and there is no limit. Although you may have a hard time explaining to customs that it's for personnel use if you rock up to the customs post in Dover driving a juggernaut stuffed full of Silver coins?
  11. FWIW I stack mainly bullion, Silver&gold, but I've just started collecting semi-numismatic silver coins, e.g. Chinese Pandas, etc. The numismatics are all fine silver, but generally with much lower mintages than the bullion coins. Britannia's and Sovereigns are great from a CGT perspective, but you do get a £10k cgt allowance each tax year, and if you have a partner you can also user theirs. So if you sell in lots in March/April then you have a potential CGT allowance of circa £40k. This give you some leeway to invest in other coins etc. If PM prices tumble then the numi's are a hedge. If PM prices take off.. well who cares I paid slightly over the odds now. My goal is split the stack 80/20, that is 80% bullion, 20% numismatic.
  12. Another method for buying silver that's a bit cheaper than the UK is to purchase it in Germany, France, Belgium, etc. A number of European countries only charge 7% VAT on `Silver coins; I tend to go for 1oz Austrian Philharmonics. Bullion, rounds and bars, have VAT applied at 19%. Although if you fancy bars look out for mintbars, they're legal tender so only 7% vat. You might want to have a look at http://www.vatea.de An example of a Mintbar: Rwanda 1Kg
  13. It's good to read that so many people think there isn't going to a crash. The fact that people still can't accept that house prices are crashing is very good, because it means we're still in the early stages of the crash... DENIAL!! If prices were this high and everyone was fearful of more price drops then I'd be really worried.
  14. To bring this thread back onto topic; I'd also would like to know where all the stripclubs are?
  15. I don't think immigration was ever about a skills shortage, or an inability to find someone who could do it; more a problem of finding someone who would do it. e.g. bus drivers.
  16. You were a student, lived on £30 a week. Now imagine you're a father, unemployed, with two kids to feed, a roof to put over their head. Do you think you could do that on £50 a week? This is a general comment, not aimed at you libspero [so take a deep breathe before you write a reply]. This place is more and more sounding like the comments section of the Daily Mail. You may all be young and only have to think of yourselves, or have parents you can run back to, but in a few years you may have families to feed as well as yourselves. If, and this happened in the eighties recession, you listen to the propaganda [or press] and decide to support swingeing cuts to Social benefits based on a few people who abuse them; when you need help most to feed your family, it won't be there for you.
  17. My bad, you're right. I guess that's why they call it Capital gains Tax. Anyway my point was if the seller wants the buyer to 'pay' the CGT, the seller just can't add 40% to their target profit.
  18. I haven't read all the posts in this thread... so sorry if someone else has already pointed out the flaw in your maths. If the seller's goal is to realise £100k after paying 40% CGT then they have to put the price up by 66.6%, not 40% (you have to pay CGT on the full asking price) 40% of £166,666 is £66,666, subtract that from your asking price and you have £100K left to pocket I don't think the market will stomach a 66% increase in house values.
  19. She's the woman you need to avoid like the plague, unless you like being called a bigot by GB.
  20. You really are a nasty little shit.. It's probably best if children are kept away from you.
  21. What the heck is a 'family bathroom' (it's in the description)? If I'm doing number 2's I don't want the family in there with me, and they don't want to be there either. Is this a another fashion that's passed me by, i.e communal ablutions?
  22. Gen Y, X, boomers??? If I read this thread correctly Gen Y encompasses everyone from the age of 10 to 29. Im curious as to what a 29 year old adult has in common with a 10yr old child? I would have thought a 29yr old would have greater maturity than the child, and therefore have more in common with someone in their late 30's/40's. This 'Gen Y' (or whatever) smacks of being a product of marketing idiots. Do people feel more comfortable being classified as part of a group and therefore able to blame other groups for their problems; rather than as an individual whose own actions determine their future?
  23. This is from the telegraph article:- This is a link to the article refered to :- BBC piece from 2007 So things are fine... we're more wealthy now than in 2007, by 2014 we'll be millionaires Rodney
  24. Yes, this is a given. The trick is living within the society that is prevalent at the time. You either master it, whine about it, or fight it. When/if society changes then those that can master the new system will prevail; the fighters and whiners will inevitably lose out. For example, at this time:- The benefits claimant who masters the system never has to work. The bankers know that they will never be allowed to go under (they've mastered the system). The politicians know what the voters like to hear (they neither fight or whine about the voters) ... Going back on topic; everyone hates bank charges, but if you master the system you don't have to pay them. [by 'master' I mean understand and use this knowledge to your advantage]
  25. No need to... they've mastered the art of self-sodomisation
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