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House Price Crash Forum


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About Pants

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    HPC Newbie

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    Hayling Island
  1. Be a little careful with 'independents'. There is one standing in my ward and I was planning to vote for him. Decided to find out a bit more (google), turns out he is really BNP!! Ho hum, Green it is then - the only one left after all the ones I absolutely refuse to vote for are removed.
  2. Which is a good thing. A community with zero technology spends 100% of its time 'working' and still starvation and crippling disease are barely staved off. The issue is how the decreased workload and increased 'wealth' of the application of technology is distributed. If only we could get anywhere near sorting that.
  3. The reason banks care: Scenario one. You stay in your current house. The bank can maintain the fiction that your house (their security) is worth the original value. Scenario two. You sell your house and buy another (equally devalued one). The bank has to accept that your house (their asset base) has devalued. If repeated enough, this causes real capital vs loan book issues.
  4. We already pay 11% - it's called National Insurance.
  5. Notice that the little green sold corner is still on the picture of the house. I therefore conclude that RM have subtly changed their page format that has confused PB. The more speculative conspiracy theories are thus unlikely to be true.
  6. Because only banks can do this. Building societies are not banks.
  7. This may have already been postulated elsewhere, but...... The inclusion of relatively short lived consumer electronics in the index allows greater than 100% deflation for a given 'device'. Let us take, for example, a generic "record TV for later watching" device. This started out as a VCR (say £400 when first introduced), later people gave up buying them (in fact no longer manufactured) and was taken out of the basket and replaced by DVD players (again around £400 on introduction) these later being replaced by BluRay players (again £400 on intro). All these technologies where down to sub £50 by the time they were removed. On each 'jig' of the basket, the price is 'reset' to £400 with no impact on inflation because they are a 'new type of device'. So the total devaluation for a "record TV for later watching" device is £350 + £350 + £350 in three product generations. Thus total devaluation for a £400 device is £1050!! Just another clever way of manipulating the index down.
  8. Perhaps the Koran was right all along, but simply misunderstood. Usury is not forbidden, just impossible perhaps it is not sustainable for an economy to have interest above 0%!
  9. Spookily, yesterday I just bought a bunch more too. There does seem to be significant confusion about how they calculate what you get back each year. As I understand it (having just spoke to them) you simply get the annual RPI as published on the anniversary of your purchase (plus of course any bonus; currently 1%). i.e. simply the total inflation experienced during that year. It is not the difference in inflation figures. However if inflation is high today because of a temporary, monthly, big blip in last month's figures then as that blip works out of the figures (just in time for your rate to be calculated in a year's time) then you will see a negative hit to the figure you get (this is why some people invest over several months, rather than one big hit to smooth these effects). Otherwise, just because annual inflation is high today, this does not mean that annual inflation will not be high next year too - unless, of course, something is actively done to manage things (figure manipulation or higher interest rates) or the economy genuinely goes into some deflationary phase. This is just my understanding and I could of course be totally wrong.
  10. You're right I was playing devil's advocate, but this is what people are 'happily' doing now, also bankers benefitting from all the indebtedness we are oh so keen to get into is also hardly new. I agree, that it is irrational to think that 'steady growth' is reasonable and sustainable ('steady' (above zero) y-o-y growth percentage = exponential growth and therefore impossible to sustain in the long run), however most people seem to consider this perfectly normal and even desirable and will happily swallow quite ridiculous supporting arguments. Refuting my (ridiculous) argument is not trivial - it requires an understanding of exponential growth, something that generally humans seem singulaly unable to grasp. FP would have ended up in quite a quagmire getting into that specific - I suggest. So I do not believe it is rational for the market to continue upwards, particularly at this time but a markets capacity for irrational behaviour is legendary.... and people's willingness to accept specious arguments that support their misguided beliefs and dismiss counter arguments is also well documented.
  11. "Simple.... I'll be able to withdraw equity from the massively inflated 'value' of my house and allow my children to use this as a sizeable deposit" The merry go round gets a second wind......
  12. So, lets get this right in my head: 1) House prices are rising (only) because of' 'lack of supply'. 2) As a result of which, they are now near peak values because of all these rises. 3) The lack of supply is due to owners not putting their houses on the market, because they cannot get 'what their house is worth' i.e. near peak prices. 4) Err - how does this work? Houses expensive because they are too cheap!!
  13. Yorkshire BS are offering a 3-year fixed Cash ISA at 3.75% (with transfer in - they even give you a £50 cash back if you transfer at least 10K from another provider). Catch is no withdrawls permitted, however you can close it within the three year period but lose 180 days interest. Interesting to see that rates are creeping back up, but with draconian penalties, if you move about.
  14. Work for a global (american based) electronic equipment company. Just announced we are all to take a worldwide 10% pay cut.
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