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Everything posted by Gwailo

  1. I think for quite a few under 35s there will be no inheritence......why not? Because a majority of Baby Boomer parents would already have MEWed the house to such an extent that there will be nothing left! ("Fair enough they worked hard for their money" some would argue). Its a sad fact of life......but you have to look after yourself these days and don't expect anyone to help you! (including the Government). Don't count on getting anything in the future. If I were a fresh graduate.......my only option would be to emmigrate! Cheers.
  2. Hong Kong is the same! Madness eh? You spend 25 years paying for a small which you don't really own and which only has a 50 year lease.....crazy! Cheers.
  3. Agreed! Living abroad isn't for everyone of course, personnally I have worked abroad for about 95% of my working life......so no problems for me. Moving away from family, could be a welcome break for some perhaps? Culture? I think you will find pleanty of culture in Malaysia or any where else in South East Asia, whether you like it and can adapt yourself is another matter? OK I agree Malaysia would not suit everyone, but it may suit the more 'adventurous' Brits out there and the quality of life is good! Cheers.
  4. I Find this concept really interesting.......and I also agree with it too! In Malaysia (for example) you could buy yourself a brand new 3-4 bedroomed house, with a garden & pool in a nice tropical & quite location near a beach for about 100,000 Quid (freehold). With another 100,000 Quid in an off-shore account generating 5% PA tax free you would live quite reasonably in a country like Malaysia and never have to worry about a heating bill ever again! (Air-con does cost though). My point is this, where would you rather be? The UK where you hand over half your slave wage to the Government and pay a fortune just to buy a small nasty box or somewhere in a 'developing' country and life the good life? The choice is clear for me...............quality of life is the way of the future!
  5. Very interesting. Do you have any predictions on how the property market will fair in Melbourne? I plan to migrate there in 3-5 years & I will buy a house at some point during this period........you might save me a lot of money & I'll owe you a VB. Cheers.
  6. I will be migrating to Oz in the next 3-5 year so I am watching the Australian property market quite closely. My plan is to sell my UK property (soon), stick the cash Off-Shore (tax free interest) and wait to see how low prices fall in Melbourne.......with a view to buying when the time is right (i.e. I can buy without a mortgage and prices have bottomed out). It perhaps souns all very 'calculating', which it is really.......however, as we all know nobody out there is ever really goingt o help you (in particular the banks, government or estate agents). You have to look after yourself & your family. I see interest rates in Australia look like going higher again soon, I don't wish tough times on anyone but it could be messy down under very soon. Cheers.
  7. I think we should call Credit Cards 'Debt Cards'......it might make them perhaps less attractive to some? Cheers.
  8. Interesting. Can anyone hazard a guess about Australian Interest Rates? In fact......can anyone tell me which way Ozzy Property rices are headed because I am planning to immigrate there in a few years and I am looking to buy a 'home', (not an investment). All views are welcome please. Cheers.
  9. I think you are missing the point:- These people are 'baby Boomers' remember? They have taken the opportunities that presented themselves over the past 20 years, they purchased a nice 'country cottage', (wisely by all accounts), they then benefited from the rise in property values. Now they want to retire early, (in considerable comfort & probably abroad), and some other bugger is just going to have to pay for it! Lucky them! I just doubt that when we get to 'retire' I doubt it will be 'early' & I seriously doubt some other poor bugger younger than us will be able to afford to fund our retirement. Which is why I don't live in the UK anymore......I can't afford to fund the baby boomers retirement plans.
  10. OK, let us assume that property prices do cash.......say 20-30% from todays highs. Then what? It still means property is too expensive in the UK! You might well be better off emmigrating, as you are a teacher you might want to look at either Australia or Canada, (or perhaps even China where things can be really interesting). Hong Kong is also an option for you, (under the 'Native English Teacher' scheme)......remember only 16% income tax with no National Insurance, VAT or Community Charge........can't be bad! Sometimes the grass really is greener!
  11. I haven't seen the CNN programme either. However, I think we are all interested to hear how the UK looks from outside, obviously I am also looking 'from the outside' too.......and it doesn't look too pretty either. The UK has way too much unsecured debt! Cheers
  12. Sorry mate........but I have to say that the 'grass is in fact greener' in many countries around the World! For example, here in Hong Kong we only pay 16% income tax after a 'single persons tax free allowance of 12,300 Quid. We also pay no VAT, Community Charges or TV licence fees. In addition to that, salaries for most professionals are higher than in the UK anyway & the cost of public transport is one of the lowest of any major cities in the World. For example, by train it costs me the equivalent of 3 Quid to get to-from work each day (1 hour each way). This all adds up to one thing.......a significant ability to save cash! (which is very difficult in the UK). Other contries have also been mentioned, such as Australia, Canada etc......fair enough they too have problems......but have you seen what you can buy in Canada for 100,000 Quid? (A bit more than a 1 bed-flat in Luton!........no offence to anyone living in Luton). Apart from that, the weather in the UK is shite and the total cost of living is similar to Japan! It seems to me that average people in the UK have to work very hard......just to survive! So, I can understand why many young professional people in the Uk are serious about emmigration......I can't blame them........I was one of them! Cheers.
  13. Mate, Thanks for your reply. I doubt there will be 'blood on the streets' over this issue, and personally I have no problem with baby boomers doing well with the market conditions......after all they have just taken advantage of the opportunities that have presented themselves over the past 5 years. There is no conspiracy or anything like that to tax the young, it is just the way the UK has gone in the past few years which have caused this divide. We can only blame the low cost of borrowing.......low interest rates are apparently the work of the Devil! I have managed to side-step the UK's problems by living aboard since I was 19, I still own a UK property which I bought in 1997.......so technically I am almost as 'guilty' as the rest! However, I really do feel sorry for those poor buggers younger than myself, 20-30 age range, the best option for those smart ones is to emmigrate for a few years and watch the mess from a distance. In the meantime, those baby boomers who cashed-in their equity during the property boom......fair enough and I wish them all the best of luck, I just hope they moved to somewhere cheaper and put the rest of the cash off-shore as a pension. Cheers.
  14. It is in fact a situation where one (older) generation is taxing another (younger) generation. I'm not convinced that it can continue though, because I understand that a majority of the property owning 'Baby Boomers' are the same people who have MEW'ed to buy a new Ford Focus and that nice place in Spain etc. They might be the ones in the Shite at the end of the day because they face losing everything with little working life left to repair the damage and fund a decent retirement. The onlu baby boomers who would have 'done well' out this situation are those who sold their homes 1-2 years ago, moved abroad and didn't withdraw any equity to buy lots of crap. Time will tell.........I'd say give it 1-2 more years and the true picture will become clear. Any other views on this?
  15. Interesting article. The amount of personal debt in the UK is shocking! Can any of you economists out there explain what is the likely outcome going to be in the future, in terms of the greater UK economy, with such high levels of debts? I'm no economist of course, but I would imagine that at some point people either stop spending, causing a reduction in consumer demand, followed by the closing down of several Mc Donalds.......either that or they all become bankrupt? It must be a miserable existence to work hard just to pay off your debts. Cheers.
  16. Thats true of course, but at least you get more for your money......except in Dublin that is. Petrol is cheaper too! The main reason to move there......the pubs!
  17. Nobody has mentioned Ireland! Apparently Ireland came top in being the 'Best country in the World to live', (obviously good weather did not form part of the criteria.......but still, not bad!). Ireland isn't cheap, but you can still purchase a decent home on the West coast for under 300,000 Euros. Apparently they speak English too. Just another option perhaps? (Personnaly......Malaysia isn't bad, but shhhhh, its a bit of a secret).
  18. I gave up on the UK years ago.......1987 to be exact! I did go back for a while in mid-2000 and I only lasted 10 months, the Uk really isn't for me after all. Living abroad is great! There is also no need to just consider living in so called 'Third World' countries either, with the right skills you could consider Australia, Canada or Asia. If you don't have those skills.......go and get them! Parts of South East Asia are truely wonderful places to live, Walker 127 has already mentioned Thailand & Malaysia but there are many opportunities out here. Life in the UK really is tough, basically you work very hard.......just to survive.........why bother? Cheers.
  19. I used to go to college in Kettering, (Tresham College). If anywhere is going crash first......its' gona be Kettering, or maybe Corby? Cheers.
  20. I missed it.......mind you I live in Hong Kong so we don't good reception for BBC 2. Just out of interest, how much did they owe in total? Cheers.
  21. Mate, You obviously don't now your Geography or your International Politics. Thailand is not a haven for terrorists. It wouldn't suit you anyway, too hot! Cheers.
  22. Laurejon, Mate you must be right......I'd go and snap up a place right now if I were you! Please let us know when you have completed the transaction so we can all have a good laugh! Cheers & good luck!
  23. Not all of us have a problem with Oz. I personally will be off there myself in about 5 years, (migration). Yes Oz does have its share of problems, where doesn't? I know it if difficult to get a 'good' job, and the taxes are high and there are 'hoons' etc etc....... Having said that, Oz isn't a bad place and the people are just great! You just have to learn to modify yourself to fit in with Australians and the culture they have built. It is better to go to Oz with either a skill they need, (brick layer etc), or lots of cash.....it isn't that cheap and wages are mostly lower than the UK. Australia suits me, but it isn't for everyone. Cheers
  24. Correct! Which is why the like of W127 & myself no longer live in the UK........'Go East Young Man'. Am I right W127?
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