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NickCJ

Member since Jan 2012 • Last active May 2022

Blockquote

fixie*emphasized text*z

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  • in Miscellaneous and Meaningless
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    brave to come after the bossman

  • in Miscellaneous and Meaningless
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    Totally agree, I suppose my point was just to challenge the idea that £1k was not a useful amount of money for someone living in one of these places.

    Your chums in Hackney did well but I remember queuing up outside to view places like this in open houses for roughly the same prices back in 2013. Some bits of the 2-bed flat market have seen minimal growth in almost 10 years so not everyone was gifted massive equity by the market.

    https://www.rightmove.co.uk/properties/1­20290054

  • in Miscellaneous and Meaningless
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    The group reliant on Daddy's money don't need to or can't develop the earnings capacity to graduate beyond the Hackney flat. I'm talking about successful career people from more humble origins.

  • in Miscellaneous and Meaningless
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    Scary for sure.
    I did due diligence late last year for work on a specialty mortgage broker focusing on jumbo loans. Lots of London houses bought with 5x joint HH income mortgages to professional couples earning £300k+ between them (two law associates, consultants / bankers etc). Frightening monthly payments.

  • in Miscellaneous and Meaningless
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    I don't know, some people seem to run their finances shockingly close to the edge. Your £2 mm house occupant might have £200k of equity and the thick end of £10k in monthly mortgage payments against volatile income. Defeasing a grand of that in a bad month could be quite welcome.

  • in Miscellaneous and Meaningless
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    You could improve the current setup by tightening the wire a bit and sticking a bit of something on the inside at the bottom - if you chop up one of those pads you put on furniture on wooden floors they work well.

    It won't be flush but it will be parallel :D

    EDIT: love that cornice btw

  • in Miscellaneous and Meaningless
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    950

    A good starting point but I suspect their floor is at least price + stamp - £975?

  • in Miscellaneous and Meaningless
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    to a project making £40m per day though

    Woah how is that? Asset-liability spread on $80 bn or withdrawal fees?

  • in Miscellaneous and Meaningless
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    They want £100k extra for the barn
    So cheeky £350k on a 2yr flip

    I know we generally avoid price speculation / doomscrolling on this thread but I really can't see how the market supports a c. 30% gain in 2 years. I think the WFH revolution was slightly overstated and every macro indicator is pointing against the housing market in the next 12-18 months.

    When financial assets worldwide are down 20%+ it seems unlikely that UK housing is totally unaffected (despite the weakness of GBP).

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