Now the ECJ have ruled men and women on the pensions front this really sticks the final nail in the coffin that a pension is worthwhile any longer.
First we had dividend tax credits removed, which made a massive dent in their potential final values. Then we had the value of the pension limited to an amount that punishes wise investing and now you can't get a fair deal on an annuity. It's a set of events that will really backfire on the nation when the current generation retires.
A pension is generally a good idea, but given the prohibitive nature and unfavourable tax treatment now you are better off investing directly and having complete control on your retirement funds.
Not worth having a pension fund any longer
I zink it could be a good idea buying zome of your UK property now. Your government haz decided to make you pay back your national debt very quickly which is causing a lot of defaults.
Zere are zome good opportunities to take advantage of zis panic in zee market over zee next couple of months as we come out of zee winter. In zee long term you eeenglish will need more houses as you dirty eenglish bread like zee mouses and live on a tiny Ireland.
Trust me when Wilss marries sexy Katie zee market will take off and then zen you have zee olympics and zen the David Cameron will need to be re-elected.
You make zink I am Russian inn but no I zink it is zee gut time to buy your dirty little eenglish houses.
Zere are zome good opportunities to take advantage of zis panic in zee market over zee next couple of months as we come out of zee winter. In zee long term you eeenglish will need more houses as you dirty eenglish bread like zee mouses and live on a tiny Ireland.
Trust me when Wilss marries sexy Katie zee market will take off and then zen you have zee olympics and zen the David Cameron will need to be re-elected.
You make zink I am Russian inn but no I zink it is zee gut time to buy your dirty little eenglish houses.
How dare you?
I have had a terrible headache all day. I went to the doctor and the doctor said
http://en.wikipedia.org/wiki/Foreign_accent_syndrome
I have had a terrible headache all day. I went to the doctor and the doctor said
http://en.wikipedia.org/wiki/Foreign_accent_syndrome
Sounds like Stoke on Trent.Euler wrote:Houses in Florida are dirt cheap at the moment. So many repo's and a lot of abandoned property.
Well nobody can tell the future, but I have just bought a property in the UK and if funds allow will buy more if prices stay the same or decrease.
The trip to florida looked cool. Well done for taking some time off. Not easy to do some times but with small kids it is always worth it.
I'd buy property if the yield was high enough. Not sure that is the case in the UK just yet. Equities are not expensive at the moment, 11 years ago the FTSE traded at 7,000 and it is still below that value now. In that time corporate earnings have grown a fair bit.
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andyfuller
- Posts: 4619
- Joined: Wed Mar 25, 2009 12:23 pm
My personal view is that house prices have a way to go yet.
I had planned to buy but have decided to hold out for now.
Reasons being:
- Interest rates still at historic lows so mortgage rates are only going to head in one direction over the next few years
- There are a lot of people over extended, many of whom I feel have not been taking advantage of the historic low interest rates by over paying/saving but have instead tried to maintain their standard of living.
- Banks are still reluctant to lend, requiring large deposits meaning first time buyers are fewer in numbers and people are reluctant to sell as they will be forced on to less favourable mortgage deals and may struggle to have enough equity in their properties to allow them to sell.
- The government cuts are only just beginning to really filter down and have a long way to go, so still a lot of companies to see a reduction in their sales to the public sector and in turn leading to job losses plus the public sector job losses that come direct form the cuts.
- As interest rates go up exports are likely to fall leading to more job losses/reduction in growth
- The Middle East impact and the high oil price has barely hit the world yet and the whole scenario there has a long way still to go before it is played out. I personally think this is going to be the key to what happens in the next 5 to 10 years. I can easily see the world being knocked back into recession and we and the majority of the world are in a very fragile state at the moment.
Already companies are issuing profit warnings on the back of the Middle East and the higher oil prices.
If things spread to Saudi Arabia it doesn't bear thinking what could happen to the world economies imo.
Various other reasoning but those are the main ones. That is not to say though that if the right property were to come up in the right state and location I would not consider it.
I had planned to buy but have decided to hold out for now.
Reasons being:
- Interest rates still at historic lows so mortgage rates are only going to head in one direction over the next few years
- There are a lot of people over extended, many of whom I feel have not been taking advantage of the historic low interest rates by over paying/saving but have instead tried to maintain their standard of living.
- Banks are still reluctant to lend, requiring large deposits meaning first time buyers are fewer in numbers and people are reluctant to sell as they will be forced on to less favourable mortgage deals and may struggle to have enough equity in their properties to allow them to sell.
- The government cuts are only just beginning to really filter down and have a long way to go, so still a lot of companies to see a reduction in their sales to the public sector and in turn leading to job losses plus the public sector job losses that come direct form the cuts.
- As interest rates go up exports are likely to fall leading to more job losses/reduction in growth
- The Middle East impact and the high oil price has barely hit the world yet and the whole scenario there has a long way still to go before it is played out. I personally think this is going to be the key to what happens in the next 5 to 10 years. I can easily see the world being knocked back into recession and we and the majority of the world are in a very fragile state at the moment.
Already companies are issuing profit warnings on the back of the Middle East and the higher oil prices.
If things spread to Saudi Arabia it doesn't bear thinking what could happen to the world economies imo.
Various other reasoning but those are the main ones. That is not to say though that if the right property were to come up in the right state and location I would not consider it.
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andyfuller
- Posts: 4619
- Joined: Wed Mar 25, 2009 12:23 pm
I am pulled in two directions to be honest. Yes I would love my own home but at the same time I don't like to think of my money that I have invested in my home not doing anything for me. So at the moment I am renting as it works out financially the much better option. Also I do quite like the freedom renting brings and being young with no commitments or ties it fits well and that I dont actually know where I want to live long term to be honest.to75ne wrote:andy if the property comes along buy it, i mean where you would like to live not as an investment, but a home. when you see your home buy it.
Also I have quite the DIY bug inside me and my ideal home would be a house I could gut out and redo to my tastes but that is something for the future as it just isn't financially worth my while doing the DIY and missing trading.
Can't see me buying for a good while yet, the returns just aren't there at the moment I feel where as they can be found else where, but never say never
Would be interesting to hear other peoples views on where the housing market is headed...
I disagree.
IMHO, the fall in house prices has a long way to run, and buying now could cost tens of thousands of pounds in lost savings.
The rise in interest rates, when it happens, could be the tipping point as far as house prices go...
Jeff
IMHO, the fall in house prices has a long way to run, and buying now could cost tens of thousands of pounds in lost savings.
The rise in interest rates, when it happens, could be the tipping point as far as house prices go...
Jeff
to75ne wrote:andy if the property comes along buy it, i mean where you would like to live not as an investment, but a home. when you see your home buy it.
i agree jeff on the financial aspect but the emotional aspect is different. if you find the place where you know instinct if you like, you wanna be. then consider doing it. thats one of the big things in life, having a home as opposed to a financial investment. as andy is young and likes diy he would seem to be a good position to obtain a good emotional base/home to grow/expand from.
