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The rats are jumping ship...SELL SELL SELL

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1 hour ago, inbruges said:

+ 1

Now this is a good post, I personally work 50 hrs per week most weeks and love it, but the big difference between me now and others who now have bigger important family commitments and I not so much, I was in the same boat for a while with a terminally  ill family member and kid etc. This is why I hate it when all that's ever talked about come local politics, Brexit or a general election is non stop talk about the economy, it is not everything in life as important as it is.

I personally would have liked to have remained in the EU, but I get furious at Remainers who forever go on about how the economy will worsen because of Brexit, I fully get why some people ignored the economy and voted leave. These struggling mother you talk about and I feel for, the best thing that could happen to them right now even though they will not think so is the whole system to come crashing down on them and financially cripple them, mortgage, debts etc. Then hopefully we can start again with a system that values quality of life far more than it does now

The whole Brexit debate did centre on the economy a lot but as you say,there was more to it.

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30 minutes ago, thewig said:

a woman’s place is in the home? Bit sexist mate

If they’re not pulling their weight financially, only answer is to bang their rent up mate.

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56 minutes ago, inbruges said:

How many peoples well being would be vastly improved if say a little bit of England was given to you at a reasonable price and there was a massive BQ type place x 100 and on steroids where you could buy pre fabs and add on pre fabs shipped in from China(check them out, wonderful) where you did all the work and grew in size  relative to the money you was earning.

I seem to remember reading that Germany has a similar system to this. Land is sold to individuals at a reasonable price who then sit down with 'prefab' companies and spec up the house they want to live in. I think Germany has a whole prefab industry that simply doesn't exist here. I would love to do this!

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4 minutes ago, bluegnu said:

I seem to remember reading that Germany has a similar system to this. Land is sold to individuals at a reasonable price who then sit down with 'prefab' companies and spec up the house they want to live in. I think Germany has a whole prefab industry that simply doesn't exist here. I would love to do this!

https://www.huf-haus.com/uk/

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5 minutes ago, bluegnu said:

I seem to remember reading that Germany has a similar system to this. Land is sold to individuals at a reasonable price who then sit down with 'prefab' companies and spec up the house they want to live in. I think Germany has a whole prefab industry that simply doesn't exist here. I would love to do this!

I was just involved in a job in South Cambridge Shelford that erected three of those German pre fabs on a plot of land. German company came over here and they were all up within a week. There was still much work to be done, electrics, plumbing, kitchen, sprinkler system, roof etc, but you basically was walking inside a house with cover and massive rooms. I could not believe how cheap they were and how great they looked, talking inside Cambridge here so they have to look good

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5 minutes ago, inbruges said:

I was just involved in a job in South Cambridge Shelford that erected three of those German pre fabs on a plot of land. German company came over here and they were all up within a week. There was still much work to be done, electrics, plumbing, kitchen, sprinkler system, roof etc, but you basically was walking inside a house with cover and massive rooms. I could not believe how cheap they were and how great they looked, talking inside Cambridge here so they have to look good

 

11 minutes ago, Option5 said:

 

Any idea of an approx cost of one of these houses, built and erected ready for interior fit?

Nothing listed on website.

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9 minutes ago, GreenDevil said:

 

 

Any idea of an approx cost of one of these houses, built and erected ready for interior fit?

Nothing listed on website.

Lots of money, I thought the prices were on there?

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1 hour ago, inbruges said:

Yes Portugal for me as well, nice places and landscape, and not all the people whore themselves for trinkets and money, Normandy and Brittany also possibilities. Tax incentive, tell me more?

"Since 2009 and the introduction of the Non-Habitual Residence (NHR) tax regime, Portuguese authorities have been enticing wealthy individuals and families to relocate to Portugal using significantly beneficial tax treatment for the first ten years that they live in Portugal.

The Non-Habitual Residence status was introduced in Portugal to offer people a legitimate way for people to earn, save and invest in a jurisdiction without paying tax on things like inheritance, the disposal of assets and pension income. Being granted NHR status ensures that, for ten years, people who are tax resident in Portugal (and accepted for Non-Habitual Residence status) can essentially receive certain incomes free of tax both in Portugal and in the country of the income source.
"

More detail

I am not a tax lawyer and have no idea how it works so don't ask. My experience of Portugal is limited to a very agreeable visit to Lisbon for improving my Tarraxinha

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38 minutes ago, GreenDevil said:

 

 

Any idea of an approx cost of one of these houses, built and erected ready for interior fit?

Nothing listed on website.

Me and my wife went round the nearest show house to London.  Pretty spectacular but a bit too much glass for my liking (felt a little too like a fancy office).  I believe some of the options included not having 4 walls made of glass though (and they were cheaper too).

They weren't cheap though - reckon about £800,000 for 3/4 bedroom..and then of course you had to secure a bit of land big enough.

The show house was about 1.5m if I remember rightly...but it was f'ing massive.

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5 hours ago, Option5 said:

Isn't it's relationship with the base rate the important part?, what was the base rate in 2007?

Around 5-6 %. Libor peaking at 6% in April 2008. But yes if LIBOR is a lot above the base rate then this the problem. So today we have 1.71 and a base rate of 0.5 so I take your point. Libor high ? -check

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Depends. As they cut rates libor stayed high--- until they had done a load of QE, then it fell right back. I'm not sure how useful making these comparisons is, but if you add it in with other things going on it could be significant

uk-interest-rates-libor.gif

Edited by bear.getting.old

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Regarding LIBOR see : https://www.moneyandbanking.com/commentary/2018/3/4/bank-financing-the-disappearance-of-interbank-lending

Rises in Libor suggest that banks are not keen to lend to one another on a short term, unsecured basis. Further, Libor is according to the above, and another article linked from the above, mainly generated from surveys of participants rather than actual transactions.

In general a rise in libor away from CB rates suggests either that there is not much inter bank lending going on, which could be a systemic changes as suggested above, or alternatively might be a sign of bank stress (e.g. during 2008). I don't think rises in libor specifically foreshadow rises in CB rates - or even in market rates more generally, which is not to say that either won't tise, merely that libor is a dubious predictor.

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12 hours ago, GregBowman said:

The inability for families to have a ‘normal ‘ life isn’t good it’s disgusting and a right surely above anything including owning your own home 

We are truly eating ourselves when plainly educated people people like yourself think it’s ok that in one of the cradles of democracy young couples can’t aspire to a family

I agree with that. Otherwise I meant it in terms of mother nature, how any species when resources are scarce react naturally and don't multiply as much to avoid making the situation worse.

12 hours ago, GregBowman said:

Made doubly hard to bear I am sure by wave after wave of economic immigrants who are uneducated, in many cases violent and of Stone Age views on equality and in massive family groups ( too thick to control their family size obviously ) looking to  take from Europe

That part is bad and defeats the point of the former.

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Unsecured interbank lending isn't so much of a thing these days. Higher Libor probably just reflects higher money market rates (commercial paper) - due to increased T-Bill issuance, some relatively higher commercial paper issuance, and maybe impact from US tax reforms.

http://macro-man.blogspot.co.uk/2018/03/why-is-libor-moving-higher.html

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Another anecdote, today I have been invited to a VIP event at the local Peugeot showroom (other failing European car showrooms are available), with a big gold line proclaiming SOME CARS WILL BE SOLD AT LESS THAN COST PRICE.

I think they meant 'ALL', but it got lost in the translation..

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The impact in the way a tax return will look will have a huge impact. Landlords may have become a little 'used' to the idea of S24 but once those numbers come through and that 'gross income' increases dramatically in declared income (even though the net effect may not be too great initially) will be a shock for some. 

I think the sales will really begin to scale up then. And with an interest rate rise in the mix....I predict a decent drop in prices over the next few years. 

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1 hour ago, Lambie said:

Another anecdote, today I have been invited to a VIP event at the local Peugeot showroom (other failing European car showrooms are available), with a big gold line proclaiming SOME CARS WILL BE SOLD AT LESS THAN COST PRICE.

I think they meant 'ALL', but it got lost in the translation..

No it was some, probably 1 out of 500, just to spark some interest. When they really do sell at less than the price to build them then I'll be interested. Along with when they are selling houses for less than the construction costs, as was Ireland some time back.

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On 14/03/2018 at 7:17 PM, Lambie said:

Another anecdote, today I have been invited to a VIP event at the local Peugeot showroom (other failing European car showrooms are available), with a big gold line proclaiming SOME CARS WILL BE SOLD AT LESS THAN COST PRICE.

I think they meant 'ALL', but it got lost in the translation..

That's completely normal, as the manufacturers make more money from the life costs of the car than selling the car itself.

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1 hour ago, maverick73 said:

s24, whats that?

It's the taxation on turnover rather than profit without the ability to offset interest costs before calculating the tax due. It impacts higher rate tax payers and will bankrupt highly leveraged portfolio landlords - which could result in forced sales and falling prices. All BTL landlords get a 20 % tax credit, hence basic rate tax payers will be unaffected. Ireland tried it but it pushed rents up massively as landlords passed on their increased costs and was withdrawn after 5 yearss. Rents in the UK are thought to be at the maximum that tenants can sustain, hence the hope is that landlords won't be able to pass on their additional tax to tenants. It's going to be an interesting roller coaster ride. We live in interesting times and this could precipitate the housing crash that the SE needs. Not sure how the banks will fare.

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On 14/03/2018 at 8:36 PM, bear.getting.old said:

 Along with when they are selling houses for less than the construction costs, as was Ireland some time back.

You can pick up loads of houses in the north for less than construction costs if you are genuinely interested. In Liverpool the local authority were selling them  for a pound recently. Loads of £20k houses on this link. The stone used to build them would cost a high proportion of the build cost. 

http://www.rightmove.co.uk/property-for-sale/find.html?locationIdentifier=REGION^252&maxPrice=50000&sortType=1&includeSSTC=false

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Interesting. Lots of mid terraced houses in Burnley for 38k - 50k some with tenants. Questions that spring to mind. Is Burnley a dump? And are these just part of the big S24 sell off.

The £1 houses in Liverpool did not go to plan. You can't polish a turd. They are £1 houses that you need to spend at least 60k on to do up and you have to live in it yourself for 5 years. Other conditions apply. You wouldn't want to live in them because the streets they are on is crime city. Drug dealers, scum, god knows what. You'll have the windows smashed in on a regular basis. Living hell

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