What Are You Strs Doing Now?

[Jister1]

for someone who claims he is being stalked, you are doing a good job of proving this not to be the case.

Are you stalking me now?

[Jister1]

Mine is and I am...

Problem is finding a worthwhile house to dump it all into (depreciating asset or not) or convincing Mrs Mugwump to buy more than the one bar of the g**d (metal whose name will not be mentioned) I talked her into earlier this year.

I've hidden the kitchen knives before having another "chat" about it. I believe you have experience in this area GOM, no?

Go for the house. you can live in it and enjoy it for years and at the end of the day you might be able to down size and make a few quid which can go towards helping you out in our later years.

if Mrs Mugwump reads this...you know it makes sense dear. The metal stuff is ok as a hedge but really....it's not the answer.

Edited September 25, 2009 by Jister1

[Panda]

well we agree on this one. I would be sh1tting myself if my str fund or savings were in sterling right now in UK banks.

Sterling is taking a hit, so what, it will rise again, when who know's, but it will! Euro in the future, no, the public would riot!

Sterling at the current low's is helping us out of a hole, well so they say, me, i intend on keeping it in Sterling, spending it in Sterling, and saving it in Sterling. If you like the dollar, the Euro, Gold, houses, coffee, scones, go for it, i like Sterling, so leave me alone!

[grumpy-old-man-returns]

Mine is and I am...

Problem is finding a worthwhile house to dump it all into (depreciating asset or not) or convincing Mrs Mugwump to buy more than the one bar of the g**d (metal whose name will not be mentioned) I talked her into earlier this year.

I've hidden the kitchen knives before having another "chat" about it. I believe you have experience in this area GOM, no?

yes it took me a long time & lot's of discussions before I had Mrs GOM on side I must admit.

& yes, it is only recently that the kitchen knives have made a return to the kitchen.

I understand the nice house, trust me if that's all we get out of this we will be happy. I just don't think right now is the time unless you are prepared to lose 30%+ from here (more if it's in a sh1tty area & less desirable property type).

good luck, but don't get caught out Mugwump Boy.

[Neverland]

Sterling is taking a hit, so what, it will rise again, when who know's, but it will! Euro in the future, no, the public would riot!

Sterling at the current low's is helping us out of a hole, well so they say, me, i intend on keeping it in Sterling, spending it in Sterling, and saving it in Sterling. If you like the dollar, the Euro, Gold, houses, coffee, scones, go for it, i like Sterling, so leave me alone!

If you'll still be going when sterling is 1 Euro or less and 1.4 to the USD then good luck to you

[grumpy-old-man-returns]

Sterling is taking a hit, so what, it will rise again, when who know's, but it will! Euro in the future, no, the public would riot!

Sterling at the current low's is helping us out of a hole, well so they say, me, i intend on keeping it in Sterling, spending it in Sterling, and saving it in Sterling. If you like the dollar, the Euro, Gold, houses, coffee, scones, go for it, i like Sterling, so leave me alone!

yes, to go to heaven when it has died, that's the only rising it will be doing long term.

[puppee]

Come on, what are you HPC STRs doing now? House prices still high but inflation looming…

Buy property now even though you believe it to be overpriced by at least 10%?

See your stash eaten up by inflation / falling pound while you wait for house prices to fall when interest rates go up?

overpriced by 10% yeah right and the rest

[co2_is-not_man_made]

the problem is that people on here where right, house prices would and did fall, what people didnt appreciate though is the effect this would have on the banks and the world economy.

Governments have stepped in and propped all this up, house prices will just not be allowed to collapse too much more, they will print money continuously to ensure that. It is wrong in my view but the whole economy of the world is based on high asset values and they will not be allowed to fall, the STR's are in a minority and so their interests will not be looked after.

I actually think that the downward pressure on asset value is too large and they will have to fall, this will only happen when countries particually UK and USA run up too much debt and the inevitable currency collapse happens, we are on our way.

When this happens the £'s in the STR fund are effectively wiped out and the only true value will be in assets. A currency event will promt the hyperinflation many are predicting and debt will be destroyed. Believe me this will happen , it is the only way out of this mess for our planet.

I think a currency collapse will promt the next banking crisis as countires are now effectively banks, so the domino effect will happen all across the globe, expect stock markets to fall , and a depression to start. I think it will take a few years to work through but at the end debt will be reset and value will only exist in hard asets.

I think if you put your trust in a bit of paper with a promise of this debt stricken , insolvent country you are being very nieve, dont think it wont happen , my god the banks were 2 hours from closing 1 year ago. Please people wake up !!

[awaytogo]

Buy property now even though you believe it to be overpriced by at least 10%?

Ho ho desperate post, by property from me please.

[finallysold]

I am not a pure STR in the sense that we bought our house in mid 2005. at that time we had to move fast to get a good purchase price and decide to rent out our old house. we finally sold the old house in august 2007, (been trying to sell it for the bulk of 2007 and already you could see the start of hpc at that time ) and my str fund has been sitting in a few bank accounts for the last two years at good rates. now i am completing a remortgage on my current house (a five year fixed rate mortgage) and my str fund has gone there so that i have a low ltv of 30%.

i a sense i have put all my eggs in the house basket and part of me wishes that i had sold my other house also in end of 2007. but on the other hand i like the house i live in, my mortgage is low, so i am not unhappy. in the end, a house is a place to live.

[TheCountOfNowhere]

Come on, what are you HPC STRs doing now? House prices still high but inflation looming…

Buy property now even though you believe it to be overpriced by at least 10%?

See your stash eaten up by inflation / falling pound while you wait for house prices to fall when interest rates go up?

I'm preparinig to leave this hell hole of a country,

My STR fund is mostly protected from inflation or can be moved with a day or two's notice,

Im extremely happy not to be locked into house ownership now.

The people with houses when they talk of inflation eating away the STR'ers funds do you realise that when inflation does takes off, your house value will remain the same? that's the only way ( other than houses dropping (50 from peak )that we can return to normality, either way, houses will be/should be/must be worth 50% less than their peak selling values.

So, home owners, laughing at the STR'ers holding cash...the laugh is on you.

Edited September 25, 2009 by TheCountOfNowhere

[co2_is-not_man_made]

I'm preparinig to leave this hell hole of a country,

My STR fund is mostly protected from inflation or can be moved with a day or two's notice,

Im extremely happy not to be locked into house ownership now.

The people with houses when they talk of inflation eating away the STR'ers funds do you realise that when inflation does takes off, your house value will remain the same? that's the only way ( other than houses dropping (50 from peak )that we can return to normality, either way, houses will be/should be/must be worth 50% less than their peak selling values.

So, home owners, laughing at the STR'ers holding cash...the laugh is on you.

why do you think house prices will stay the same when inflation takes off, everything goes up ?

[Neverland]

I'm preparinig to leave this hell hole of a country,

My STR fund is mostly protected from inflation or can be moved with a day or two's notice,

Im extremely happy not to be locked into house ownership now.

The people with houses when they talk of inflation eating away the STR'ers funds do you realise that when inflation does takes off, your house value will remain the same? that's the only way ( other than houses dropping (50 from peak )that we can return to normality, either way, houses will be/should be/must be worth 50% less than their peak selling values.

So, home owners, laughing at the STR'ers holding cash...the laugh is on you.

I think the sad fact is in two years time no one will be laughing in the UK

[TheCountOfNowhere]

why do you think house prices will stay the same when inflation takes off, everything goes up ?

Errrrr..haven't you noticed...houses are 100-200% over-priced....that's what's cause the global economic collapse and that one fact has to be rectified, Either prices drop or inflation takes off.

So, when everything is inflating in price...house prices wont, it's the only solution to the problem. Otherwise the banks would still have a problem,

Inflation wont be for the house owners benefits, you wont be profitting from it, it's for the banks and governments. Anyone with any sense would be happy with house price deflation,.

Edited September 25, 2009 by TheCountOfNowhere

[ScaredEitherWay]

Do you still get JSA with so much money sitting in the bank?

I get nothing, no, £0. Nada.

I have a small online income that pays my way, just.

[Neverland]

I get nothing, no, £0. Nada.

I have a small online income that pays my way, just.

Have you tried to claim, an earlier poster said you could get it for 6 months?

[ScaredEitherWay]

Have you tried to claim, an earlier poster said you could get it for 6 months?

No I didn't. The earlier poster said that people might qualify for "contributions based JSA", this is based on contributions for the previous two tax years. When I put my house up for sale, I'd been employed for just 6 months (self employed for 6 months before that, then employed for 15 months before that) - and I got laid off from that job. As I knew I was selling the house and leaving the area, I just called myself self employed and did whatever work I could find to fill in the time.

As I was self-employed, I did not qualify for contribution-based JSA. A lot of people are finding that they don't.

My online earnings fluctuate daily and technically I could probably claim WTC for a single person for having a very low income - but with the income changing daily and the interest rates on the 10 accounts my money's spread across actually makes it impossible to even attempt to write anything meaningful on the forms.

So I just make enough money here and there, getting by really.

[co2_is-not_man_made]

Errrrr..haven't you noticed...houses are 100-200% over-priced....that's what's cause the global economic collapse and that one fact has to be rectified, Either prices drop or inflation takes off.

So, when everything is inflating in price...house prices wont, it's the only solution to the problem. Otherwise the banks would still have a problem,

Inflation wont be for the house owners benefits, you wont be profitting from it, it's for the banks and governments. Anyone with any sense would be happy with house price deflation,.

When a loaf of bread say costs £100, wages will have to inflate and so will houses. you dont get selected inflation after a currency event. look back at germany and what happened there, if inflation is coming you can preserve wealth by holding assets , safer than cash in my view

[tpbeta]

Still waiting. If £ goes down much further I might move it to another currency though.

[MississippiJohnHurt]

why do you think house prices will stay the same when inflation takes off, everything goes up ?

Unless they lose control v quickly and it gets to hyperinflation (at which point house prices become an irrelevance), I can't see how "normal" inflation will lead to HPI, in the current economic conditions. Serious inflation would be countered by interest rates which would crush large proportions of the market. Leading to more deflationary pressure on house prices...

[Ethel]

Me and hubby are about to buy a house. Offer accepted, mortgage agreed (got a good deal), just waiting impatiently to sign contracts now.

For an extra £100 a month we are going to have a detached house that's about 30% bigger than our current rented semi, with all the following that we don't have now: one extra bedroom, a conservatory, a garage, newly fitted bathroom with seperate shower cubicle, newly fitted kitchen, nice views, much bigger & sunnier garden (south facing)....

It's a no brainer. Also, I'm expecting our 1st baby in January so we felt the time was right for us. I can't wait to decorate the nursery, tee hee, cue sexist comments.

We are prepared to lose some equity if prices fall further (the most likely scenario IMO) but as we're going in with a 27% deposit that was largely achieved from STR in early 2007, we are ok with that, our quality of life is going to be much better for a small increase in outlay each month.

Not the right time for everyone but it is for us.

[tpbeta]

Serious inflation would be countered by interest rates

We hope. With Mervyn in charge I wouldn't count on it.

[TheCountOfNowhere]

When a loaf of bread say costs £100, wages will have to inflate and so will houses. you dont get selected inflation after a currency event. look back at germany and what happened there, if inflation is coming you can preserve wealth by holding assets , safer than cash in my view

Excuse my bluntness...but...total ********,

We've had massive house price inflation without the same inflation on wages, other assets, equities and food.

Your assertion "you dont get selected inflation " is quite frankly not true, since we have had it for houses for 10 years or more, new cars prices for instance havent really gone up much in 10 years. The countess bought a new VW polo ten years ago for 10K....she bought a new one last year for 7K. This house inflation brought on by the stupid lending by the banks has brought on this global crisis, Don't expect your house to maintain it's current value.

THIS JUST WONT HAPPEN, I KNOW IT, THE BANKS KNOW IT, THE GOVERNMENT KNOWS IT, ANYONE WITH A RUDIMENTARY UNDERSTANDNG OF ARITHMETIC KNOWS IT AND NOW...YOU KNOW IT !!!!

Your house will eventually be worth 50% less, either through inflation, a sharp accepted drop in prices, a long protracted Japan style deflation, total economic collapse and/or war.

The sooner people realise this and we get back to normal, the better.

P.S.. I hope we avoid the economic collapse and/or war. But just think how much houses in germany were worth during and after the war....even without the aid of the german land registry I can safely say they were worth feck all.

Edited September 25, 2009 by TheCountOfNowhere

[MississippiJohnHurt]

Me and hubby are about to buy a house. Offer accepted, mortgage agreed (got a good deal), just waiting impatiently to sign contracts now.

For an extra £100 a month we are going to have a detached house that's about 30% bigger than our current rented semi, with all the following that we don't have now: one extra bedroom, a conservatory, a garage, newly fitted bathroom with seperate shower cubicle, newly fitted kitchen, nice views, much bigger & sunnier garden (south facing)....

It's a no brainer. Also, I'm expecting our 1st baby in January so we felt the time was right for us. I can't wait to decorate the nursery, tee hee, cue sexist comments.

We are prepared to lose some equity if prices fall further (the most likely scenario IMO) but as we're going in with a 27% deposit that was largely achieved from STR in early 2007, we are ok with that, our quality of life is going to be much better for a small increase in outlay each month.

Not the right time for everyone but it is for us.

certainly sounds like a no brainer in those circumstances! Good luck with the move and baby .

[rex]

Come on, what are you HPC STRs doing now? House prices still high but inflation looming…

Buy property now even though you believe it to be overpriced by at least 10%?

See your stash eaten up by inflation / falling pound while you wait for house prices to fall when interest rates go up?

Still waiting, and getting seriously fed up with it all. We've been living in rental for 18 months now. Many house sellers in my area have been waiting it out - either not putting their houses on the market at all, or not dropping their asking prices at all and simply waiting.

My dream house did come and go - it came onto the market in early 2008 and sold this Spring when the market kicked off. I thought it was 20% overpriced. The buyer who came along and bought it clearly didn't.

We're eying up repossessions now - a few coming onto the market in the last month. One that looks great but is about 40 miles down coast and would be a total hassle to live in from a "commute to work" perspective, but it is undoubtedly a total bargain, could make a decent profit after say 5 yrs, and at least we would have a place that would be home (if only for the weekends ...).