General Discussion: best/worst


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gaffer
gaffer avatar

612 posts since 13/4/05

19 Oct 2014 23:05

No. It would 'correct' the price of houses.
Kadafi39
Kadafi39 avatar

2198 posts since 30/10/09

19 Oct 2014 23:15
That it would, at the detriment of all home owners. Think about what happens to those that have 70% mortgages on their house and their house price is "corrected" meaning they lose 30-40% of the value of their house, yet the full loan is still outstanding.
Appreciate what your saying but imo the knock on effect would be catastrophic. Our government has pumped too much cash in to our economy through bail out plans and similar to turn round now, all they can do is encourage foreign investment.
Double D
Double D avatar

3552 posts since 8/3/07

20 Oct 2014 11:03
Fucking hell that post actually made sense.
themistake
themistake avatar

10870 posts since 20/2/06

20 Oct 2014 11:05
but I find it impossible to believe that such a scheme would reduce house prices in London, it would just steady the price rises.
Best
Best avatar

9982 posts since 21/10/05

20 Oct 2014 11:57
Double D wrote: Fucking hell that post actually made sense.

Laughing out loud
EVERS
EVERS avatar

8580 posts since 2/7/06

20 Oct 2014 12:32
nothing will reduce house prices in london until people don't want to buy there anymore, which clearly isn't the case.

affordability for uk buyers is still there, it's only the lending criteria which has changed which is crazy as the crash was almost single handedly caused by bundled US mortgage debt.

http://en.wikipedia.org/wiki/Subprime_mortgage_crisis
Kadafi39
Kadafi39 avatar

2198 posts since 30/10/09

20 Oct 2014 13:51
That's as our government and the UKTI actively encourage investment in the UK by offering incentives like no CGT for non residents selling property they own in the UK. If we had policies that discouraged foreign purchasers from buying in the first place demand would be massively affected, which of course would lead to a drop in house prices. Central London might not be affected as much as the rest of the country, or it might be the last place to be affected, but it would definitely be hit eventually. I remember reading that in 2013 London over took NY as the city that drew the most foreign investment, around £8 Billion in 2013 alone. Investment from Russia, China and the Middle East is huge.

Also its not crazy that the lending criteria has been changed, self certified mortgages were the down fall of our economy and clearly they were abused and led to hundreds of millions if not billions in defaulted loans.

Don't see the link between the U.S. mortgage debt either, ours was caused by Northern Rock, Hbos, RBS and Lloyds and other companies, most of which don't even operate outside the UK. The US economy crashing obviously impacted ours, but no way was that the main reason, we had our own shit going on.
ginner
ginner avatar

359 posts since 15/4/14

20 Oct 2014 14:01
Northern Rock, Hbos, RBS and Lloyds all exposed themselves to the debt by buying investment bonds which were backed by sub-prime securities. Northern Rock were the only one out of those four who didnt have amercian arms or amercian desks in their investment banks but they still bought products from other institutions which originally started out as amercian (and other country) mortgage debt. When confidence in the amercian market fell the value of these bonds deteriorated and the book value of the above mentioned four firms dropped as a result meaning the total value of the investments they held, compared to the loans they had made, fell and made them riskier businesses. In the case of northern rock they ended up with less tangible value in the business than the loans they had made so they were insolvent. HBOS were in a similar position but were so complicated following a purchase of ABN Ambro (dutch with huge amercian operations) that nobody could really value them and consequently they didn't know whether to keep supporting (lending to) them or not. Confidence was gone and then concern spread to purely UK issues (govt debt level etc) but ultimately in this day in age the markets are so linked together its nearly impossible for a big problem in one country not effect the economies of others.
swede
swede avatar

10533 posts since 21/3/09

20 Oct 2014 14:04
themistake wrote:
swede wrote: labour want to bring in some policy that properties for sale should go to private owners before a developer… now if only i could vote


sounds like a brilliant policy, long long overdue. also (and not wanting to sound all ukip but…) properties should go to uk residents before overseas buyers.

i take that as a jibe against myself Sticking out tongue
Kadafi39
Kadafi39 avatar

2198 posts since 30/10/09

20 Oct 2014 14:08
Ahh i do remember the over expsoure to bonds. Is that thought to be the principal reason for the UK downfall? I always thought self certified mortgages were the culprit.
Double D
Double D avatar

3552 posts since 8/3/07

20 Oct 2014 14:34
I can't remember, do remember that the sub-prime crisis started quite ironically in the 90s when the US government was encouraging lenders to offer massive loans as a way of getting black people on the property ladder.
MrW
MrW avatar

3142 posts since 1/8/11

20 Oct 2014 14:50
Best pt.1 - found a folder of old papers at my parents in the summer including a form for the only loan I ever took out 18 years ago. Tried my luck with a PPI claim thinking it'd amount to nothing, got a cheque this morning for just under £2k.

Best pt.2 - been assigned to a project based in the US so working from home for next 6 months.
deuce
deuce avatar

14165 posts since 21/1/08

20 Oct 2014 14:59
MrW wrote: Best pt.2 - been assigned to a project based in the US so working from home for next 6 months.
wankathon
snaye
snaye avatar

11118 posts since 24/10/02

20 Oct 2014 15:41
Youll fucking hate it after a month or two

Ive spent long periods working from home in the past with (travel in between) and it can send you fucking loony

think Id rather shoot myself than spend 6 months working from home
EDW
EDW avatar

2581 posts since 23/2/10

20 Oct 2014 15:42
MrW wrote: Best pt.2 - been assigned to a project based in the US so working from home for next 6 months.

Gonna be showing burt and me (mostly burt!) up with your daily runs! Eye-wink
themistake
themistake avatar

10870 posts since 20/2/06

20 Oct 2014 15:53
swede wrote:
themistake wrote:
swede wrote: labour want to bring in some policy that properties for sale should go to private owners before a developer… now if only i could vote


sounds like a brilliant policy, long long overdue. also (and not wanting to sound all ukip but…) properties should go to uk residents before overseas buyers.

i take that as a jibe against myself Sticking out tongue

forgot you were scandi. haha

stop stealing our gaffs and raping our women you foreigner
MrW
MrW avatar

3142 posts since 1/8/11

20 Oct 2014 15:56
snaye wrote: Youll fucking hate it after a month or two

Worked from home for extended periods before and enjoy it, spent the last year commuting between 3-5hrs daily as well so won't miss that one bit. Got a 6 month old daughter so will get to spend more time with her as well. Win all round.

EDW wrote: Gonna be showing burt and me (mostly burt!) up with your daily runs! Eye-wink

Hopefully, back to square one first though, not been out for ages Sad
snaye
snaye avatar

11118 posts since 24/10/02

20 Oct 2014 15:58
Yeah differnet if you have a family, like you say will be handy.

Personally wouldn't do it again, much prefer to be out and interacting with people in realz
Oasisunit
Oasisunit avatar

5176 posts since 8/5/03

posted 20 Oct 2014 16:19, edited 20 Oct 2014 16:19
one of my fave sketches

. http://www.youtube.com/watch?v=co_DNpTMKXk
Double D
Double D avatar

3552 posts since 8/3/07

20 Oct 2014 17:13
snaye wrote: Youll fucking hate it after a month or two

Ive spent long periods working from home in the past with (travel in between) and it can send you fucking loony

think Id rather shoot myself than spend 6 months working from home
My dad's done it nearly 20 years now, agree would send me round the bend though