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  1. This is good news for first time buyers. It probably doesn’t have such a large affect on renters. Whilst some first time buyers maybe living with parents, many will be renting. So when these people become owner occupiers it reduces the demand for rented accommodation as well as the supply of it. Therefore, if landlords are expecting a big increase in rents - they are likely to be disappointed.
  2. I've_been_a_long_time_bear_but_I'm_considering_buying_(i'll_get_a_keyboard_with_a_space_bar_that_works_first!). My_worry_at_the_moment_is_that_the_govt_is_going_to_inflate_their_way_out_of_the _hole_they_are_in. They_have_already_been_running_negative_real_interest_rates_for_some_time_and_th is_is_money_straight_out_of savers_pockets_paid_over_to_borrowers. Its_a_difficult_choice_since_houses_are_still_ludicrously_valued. However,_without_the_pressure_of_people_having_to_sell_since_interest_rates_are_ so_low_I_can't_see_how_prices will_get_to_their_true_level_before_the_govts_monetary_and_fiscal_policies_steal _all_your_cash! So_my_mind_isn't_made_up_yet_but_I'm_definitely_erring_towards_buying.
  3. I would be quite surprised if it was Lloyds TSB. Lloyd's have been long regarded as the boring bank out of the UK big five. Whilst the other four have been out in the market place doing deals and setting up investment banking businesses Lloyds have been contentedly focusing on their core commercial banking. They have had bad analyst reviews for doing so but with hindsite it does rather (obviously) seem that their strategy was correct whilst the others (and the analysts) were wrong.
  4. Compared to the shockingly awful response from the BBC to an earlier complaint made by an HPCer regarding the today program this was actually pretty reasonable.
  5. I suppose if one was a complete moron that might just about pass as mildly amusing.
  6. I've got quite a few mates in the city. Whilst their number do include a few high spending chancers there are a lot more of them with large amounts safely tucked away in bank accounts. If you get by in a bank you're either going to be clever or lucky. Not that many people can be consistently lucky. Most of them know exactly what is going on*. *Maybe not the idiots in sales, or the analysts, or the middle office wannabies.
  7. "People that do not otherwise appear to be mad".... nicely put mate
  8. In reply to the person that mocked him for his company having a staff canteen: He said "Staff restaurant" not canteen and that doesn't necessarily mean he has a shit job. I happen to know Slaughter & May have two staff restaurants - one for staff and one for partners. I doubt many people would consider working for them to be a shit job. In reply to the opening poster: Don't be such a smug git
  9. As far as I can tell the real gainers out of these interest rate cuts are the banks who greatfully reduce their costs (interest they pay on borrowings) but does not impact their revenues (the return they get on their assets stays the same and they don't change the rates they charge). No wonder they are crying so much to get a cut. I really believe that the city is taking the rest of us for a ride and this needs to change. This comes from a free market capitalist!
  10. They're trying to sell it at the bes price they can get for their client. That's their job. Don't hate the player....
  11. The old advice has always been not to buy gold unless you want to wear it. If you want to protect yourself from inflation there are better ways - index linked bonds for example. I find it a little bit amusing that a number of this site's members that can't believe people's stupidity in not spotting the housing bubble can't see the gold price rise for what it is.
  12. The reported numbers are largely lies. I'm a chartered accountant that currently works in practice and formerly I was an audit manager with a big 4 firm so I know a bit about what I say. Banking results are very easy for companies to manipulate due to the large amount of fair value accounting. The audit teams that work in the banking and capital markets divisions largely consist of people with 1-3 years experience who frankly don't understand what they are doing for the most part. The managers and partners that supervise and oversee the work are generally far less intelligent that their equivalents at the client and don't normally do an effective job of actually getting clients to change their reported numbers in the minority of occassions where they do realise things have not been done correctly. Have a look at the Barclays results, particularly the segmental ones for Barclays capital. I know a few individuals involved in this audit and the £2.4billion of profit they reported this year is apparently a fantasy and there is so much crap included within the £800 billion of assets in the B Cap balance sheet that if it were taken out and valued properly the whole bank would be very far in net liabilities (rather than the £32b of net assets they report). How banks and auditors get away with this pathetic behaviour I have no idea. Hopefully the AIU will have a good look this year and start imposing some sanctions. [edit for typos]
  13. Relying to the opening poster - yes your accountant is correct. If we have massive inflation then buying a house, even at today's significantly overpriced level, may work out to have been a good investment decision. But, if you are a bit of an insane gambler, and want to make a massive leveraged bet on inflation then there are going to be much better ways of doing it than buying an over valued house.
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