EAs waking up to the smell of coffee.

[Greg Bowman]

2 hours ago, jiltedjen said:

2 hours ago, regprentice said:

my old man isnt an EA but has always done sales type jobs. Hes been through 6 jobs this year. He cant cope with the level of micromanaging companies force on their sales and managment staff nowadays and has walked out of every single job. Daily stand up calls at 9am, progress calls at 4pm,unrealistic sales targets,  fines for not collecting customer information (as an example Arnold Clark fine staff £10 for every customer who fails to provide an email address and they fine staff £100 a day for using a machine which another member if staff is logged onto).

He worked mainly in double glazing sales and used to be able to dictate his own hours, organise his own diary and do everything on paper with a pen (he HATES computers) but those days are gone for all of us. I imagine a lot of EAs still operate on a similar basis.

I really feel for your old man sales professional screwed by the system. I don't know his financial status but he has a skill set to die for in a world where personal interaction is a dying art.

Might have to get over the HATE computer bit, but has he thought of doing something for himself ?

sorry JJ you got caught up replying to RP

 

 

Edited July 16, 2017 by Greg Bowman

[spyguy]

1 hour ago, Bland Unsight said:

Source

Actually, what you posted was a tendentious (not to say specious) argument from Ray Boulger, who is a mortgage broker (who perhaps has a vested interest in being creative regarding the possible impacts of the rule change). A crucial thing to bear in mind is the likely magnitude of the impact of the rule change. I'd argue that it was negligible.

The break in that data (suggestive of something substantial happening) looks to me to be April 2014, which is MMR implementation.

But just look at the dip lending above an LTI of 5.

I'd say that that graph pours a bucket of cold water on the two arguments sometimes made by rampers:

1. that the LTI cap isn't changing borrowing behaviour
2. that the lack of a mortgage term cap in the MMR rules isn't changing borrowing behaviour.

 

That chart confirms my earlier comment - 70%+ of new mortgages are less than 4 LTE.

Now put the mean wage into that.

[spyguy]

33 minutes ago, Greg Bowman said:

I really feel for your old man sales professional screwed by the system. I don't know his financial status but he has a skill set to die for in a world where personal interaction is a dying art.

Might have to get over the HATE computer bit, but has he thought of doing something for himself ?

sorry JJ you got caught up replying to RP

 

 

Wierdly, 6 month ago i was having a chat with a surveyor.

He mentioned not being 'able to use a computer' Quite revealing that an entire sector is stuck pre 90s. The only secretary i know works for an EA.

Anyhow, back to surveyor, i said, Oh most tech companies went thru that in the early 90s. Managers lost secretaries and had to use a computer nd do their own paperwork.

What if they could not use a computer? He asked.

They were sacked.

 

[“Nasty Piece of work”]

1 hour ago, spyguy said:

Billows?

Predictive text, still it did have a b,o,l,l in it.

I agree what they have dropped in the punch.  This time however they have done very little, or no selling, and have no ""skills" other than dragging their knuckles, and wearing bad suits.

 

 

[Bland Unsight]

1 hour ago, spyguy said:

That chart confirms my earlier comment - 70%+ of new mortgages are less than 4 LTE.

Now put the mean wage into that.

Exactly, whatever is driving prices is not a wall of mortgage-financed demand from owner-occupiers. In that regard at least, today is genuinely different to 2007.

[spyguy]

2 hours ago, Mine the wheatfield said:

Predictive text, still it did have a b,o,l,l in it.

I agree what they have dropped in the punch.  This time however they have done very little, or no selling, and have no ""skills" other than dragging their knuckles, and wearing bad suits.

 

 

Dont forget the hair oil.

Or do EAs have hipster beards an beard oil these days. I dont look in ea windows these days, lesy they become overexcited.

[Democorruptcy]

On 7/15/2017 at 4:01 PM, jiltedjen said:

the problem with that bloody rule is that its deliberately there to keep prices high, by setting prices at the margins (the marginal buyer will be someone right at their limit (bidding over 4.5 times income)

that mean out of 10 identical houses, one will sell for say £1 million, and therefore the rest will be priced at £1 million, but no-one can achieve the asking prices, until the next person is allowed to overstrech themselves. All the houses just sit for ages with crazy asking prices, not selling like the rest of the country.

without that rule, allowing the odd marginal buyer through, the houses would have NO buyers at that level, and thus would find a new level where houses can be transacted within normal wage limits.

the wage limits should be a hard rule across the country, really get the market moving again. 

But of course cant have houses falling can we? better to have a broken market. 

+1

If enough people can buy at the margins, it keeps the market going at prices that would be too high for set rules. It doesn't need 100% of people to buy at a higher mutiple, 15% is enough to realise equity for those priced higher than they would be. Then those sellers can buy at a lower mortgage multiple because they have some equity to use.