MancunianStacker

46 minutes ago, Dom said:

Won't there be a mean reversion though? Surely we are due a correction, especially when you consider affordability ie interest rates rising and cost of living? House prices are ultimately determined by how much the buyer can borrow so if interest rates revert to the mean of 7-10% that will surely reduce house prices? 

On larger properties yes, a correction - some will downsize, but on smaller ones, the 2 bed terraces and apartments/flats no. These are your first step properties usually owned by landlords. Landlords sick of the legislation and tax issues, so selling them leaving tenants with credit issues unable to rent as most require a credit check. Rental yields gone up more now, landlords are re-entering who didn’t leave or new landlords entering the market. Tons of Hong Kongers buying multiple properties with cash (smart move). 

MSM is telling people there will be a correction / crash but it’s only a crash if you are planning on flipping your house for a quick profit. If you need somewhere to live for 25 years plus, it’s still cheaper to buy than rent. They want generation rent and will put you off buying at all costs.

Give me any property address (outside London at least), certainly in the North West, a couple with average incomes and a 5% deposit and I’d find them a mortgage.

They’ve been predicting a crash for 5 years and without wanting to sound like “Wonga” (old forum member) on Gold Price - no chance of a property crash and you’ll double your house price in 25 years! Guaranteed!!!!

Rates will go up another 0.5% (maybe on 23rd of March) but will be back down lower than today within 2 years, it might just stay this high for another year. People could wait to buy for 2 years but the prices I expect will still be higher than today.

Mortgage product rates have dropped significantly, it’s people’s credit history and lack of knowledge in this area that is preventing them from buying. I have one client in overdraft on 3 current accounts wondering why he’s getting rejected.

I’m sticking with Gold and Property.

Minimise cash in bank and stocks.

All in physicals.

Back to Gold!! sorry all 

Sorry back to estate agents!

Oh and as a Mortgage Adviser, there is no way property prices will collapse. It slowed Sept - Feb but now I’m back to being very busy again!

When supply exceeds demand prices go up. Expect prices to double in next 25 years. No joke!

If you can buy a house for your children now, consider it.

2 minutes ago, Bigmarc said:

I don't mind a rant. It's exactly what the news articles are designed to do. Forget what's going on over there and let's talk about this guy that presents the football and sells crisps. 

Agreed it’s this weeks distraction but now I’m distracted 😂 

How do we set up a voting post on the Forum? Just wondering how many agree with Lin’s comments and how many disagree. This forum probably has more intelligent people onboard than average, so might not be a good gauge anyway.

Honestly the way the MSM says people should think makes me wonder if people are falling for i”the Leftie argument or actually have a brain 🧠 

Let’s use Lin’s millions to house and feed more people eh???

Rant over now, honestly! No more ranting 😬 

Is anyone else a user on RumX website or phone app? I think we can search each other and be “friends” and read about each others Rums. 👍🏻 

9 hours ago, Stacktastic said:

missed that, but im all in on tangibles now - I have nothing in the bank. 
Working on more income as I feel poor  

Its so easy to over buy on that site!!! 

I got caught up on one bottle of Uitvlugt, see comment above. One, maybe two other bidders wanted it, it was a limited bottle run of 205 and 30 years old. It’s going away for a decade and we will see where prices are then. I could easily leave this in storage for 25 years and hopefully it will help pay for my daughters wedding with it being a closed distillery bottle, hopefully fewer bottle left sooner. 🤷‍♂️ 

I like to drink rum so consider it and investment and maybe a treat in retirement. I should be buying two of each modern release. One to sell in 25 years and one to drink in retirement 😂 

10 hours ago, Ronnie said:

🤣 Im out at the mo, year end coming up so concentrating on the ISA.

Any bargains ?

I managed to pick up a 17 year old Foursquare for £85, which sounds reasonable.

I probably over paid for the other two lots of Uitvlugt but they were both over 30 years old and it’s a closed distillery 😬 Two bottle to lay down for a decade and check the prices then 😉 I won one quite easy but the other I got out bid on two times but I was on top of the website and didn’t go over my budget (even though I consider one bottle “too expensive”).

Might drink the Foursquare but then again maybe not. Maybe too good for my limited  palette at the moment.

Spent a bit too much at the Rum Auctioneer last night 😬

Did anyone else have a punt? 

🛻 backing up!!!

just keep buying, just keep buying, just keep buying 🐠 

14 minutes ago, Dom said:

Never gonna happen, people still think Nixon spoke to three men on the moon 54 years ago using a landline, no way they will ever mine other planets it's a fantasy.

Exactly 👍🏻 

Good news for us 😉 

Like land, “they” aren’t making any more gold (at least until we start mining other planets etc). Until then, demand will continue to outstrip supply and as supply gets more difficult, slower and more expensive to mine, gold price will go up. It’s like it’s own natural built-in inflation.

Gold will require more fiat to buy said gold every decade that passes, the gold doesn’t change but the knowledge of the cost to obtain gold in any given currency does.

Just like land and houses in the UK at least, every 20-25 years I’d expect the gold price to at least double. Gold seems to be doing much better than property since 1970, then 1995 and then 2020. Just look at those jumps in fiat price. 👌

No 3rd party and as liquid as cash itself!!!

18 minutes ago, RDHC said:

O.K. But any tax - especially if at the fairly high rate of 20% - is likely to make the market in anything more depressed, sluggish, and uncertain. That's the whole logic of free trade. I'm only a historian by training and profession, but, like many others then and since, I am impressed, for example, by the beneficial effects of the reduction in customs duties that was begun by Sir Robert Peel as Prime Minister of the great reforming government  of the 1840s. Indeed, Victorian government itself benefited because the overall British economy improved so much that it could pay overall more in tax, even at reduced levels for any particular tax, than hitherto. It's the same argument that is used by many informed commentators to contend that the increasing amounts raised by stamp duty on property sales ultimately have a malign effect on the economy as a whole.

Or, to take an example perhaps closer to the hearts of some of us on this forum, what have been the results of Coin Cabinet's imposition of a 6% surcharge on the purchasers at its auctions? I have not closely  studied the prices in question, but I have the impression that they have not improved for the vendor. I am of course open to correction on this point. 

Tax Free gold road trip anyone?? 🤔 

2 hours ago, CaptCaveMan said:

Just keep thinking, free storage 😂

Don’t give them ideas! Then they only need to mint coins if it was ever requested for delivery 🚚 

Oh no, too late! 🤦‍♂️ 

8 minutes ago, SiCole said:

Another 5 coin set secured with reseller.

Zoom zoom zoom, we’re going to the moon!

Ooh, how much?

17 hours ago, blackadder said:

Seems to be abit of a terrible show,Looks like im going to have to make a claim with the bank.As they just ain't refunding me for an item cancelled.

Do this, RM might get investigated and struck off from Visa and Mastercard for taking the pi 55 😂 

23 hours ago, AndrewSL76 said:

Imagine a coin being worth that much AND the graders still cannot put the coin in the slab properly. Bonkers.

 

Just leave it on top of the washing machine for 3 months and it should correct itself 👍🏻 

3 hours ago, sixgun said:

if i can recover all that precious metals from the bottom of the sea after my tragic boating accident, i will be able to buy a street of houses one day. 

😂 Indeed!

On my 3 BTLs I’ve managed to lock in 5 year fixed rates before Truss, so I’m good for now. Rents have gone from £500pm for a 2 bed to £850pm, but the tax is ball ache. Really the profit comes upon sale and capital appreciation not the rental income. Paying tax on the Turnover not the profit is the only business in the UK that suffers in, but then it also brings in about £9Billion in tax for HMRC. Less landlords will mean less tax for HMRC, so screwing over the landlords will screw over HMRC/Govt in the same strike.

I definitely see a housing crisis coming and renters will find it even harder now to save for that deposit. It’s a real shame.

BTL is my pension fund as is PMs.

On 02/10/2022 at 15:09, sixgun said:

i see this - i saw this coming but to be honest the inevitable has taken a lot longer to arrive than i expected.
The property market is almost the British economy these days.

 

See pages 54/55 of the recent Budget announcement where they are effectively bailing out your mortgages if you can claim benefits with only a 3 month wait to get the support, not 9 months now. Less repossessions are likely than first imagined. They know values will increase again in the medium-long term.

The rental system is going to get smashed though with 20% of households renting in the UK and no incentives for private landlords to continue, so more property on the market for FTBs I guess but those who have no deposit or really bad credit could end up homeless if the landlords continue to be vilified.

A right mess by subsequent Govts from both parties, which I’m guessing will only get worse in 2 years time 😬 

9 hours ago, Stacktastic said:

I fixed mine at 2.3 in 2018 I think for 5 years expecting it to rocket, but it went lower.
Shout out to @MancunianStacker who I had a lovely chat with in 2020
& assisted me (for free) after - knowlegable man & not woke. 

He correctly nailed that the interest rates would not go up & I got to the end of my term in perfect time.  
Im recouping my losses for not having a tracker now. Lovely jubly - im 2% fixed for 10 years.   

My property was worth £410k last year is ridiculous - stupid valuations, but I could have sold it at that. 
I bought it at £310 - so there is money in property at the right times.  
£25K a year is not a silly amount if you can live elsewhere. 

 

Thanks mate! I fixed for 10 years at 2.8% ish but that was 4 years ago now, hopefully inflation gets under control and with it interest rates by then. You got a cracking deal  at 2% 🤩 👏 

Just now, blackadder said:

I did mine online,items removed from the order yet still **** all refunded

and now won't reply to my emails lol.

 

Most likely beable to buy it all cheaper later. I bet people will still be waiting in march for their orders.

They make you feel like you are already one month in, so one more month won’t hurt, then give you the bad news of another month, and then another etc. Taking people for fools 😤 

1 minute ago, GoldDiggerDave said:

mate a total 100% waste of my life never again.  Same for the 2022’s I’ve got almost 30k in  and if they can not be delivered in Jan I’m dumping all of my orders . 

 

 

Yeah get rid and buy up some extra 5 coin sets raw or pre graded at PF69 (or 70 if flush). 👍🏻 

10 hours ago, Zhorro said:

But is it better than this?

This design is better. I could have done better after 5 minutes on MS Paint 😂 

Awful design on this Rolling Stones coin. Remove the name and it could be any band, awful design imho.

The Who coin looked class in the 2oz Gold.

10 hours ago, paulmerton said:

With regards to the design, would anyone know it was The Rollings Stones if it didn't have The Rolling Stones written on the coin?

Exactly this