Newbie introducing myself (and asking if now's a good time to buy gold!)

[Ukbullionfan]

I bet the OP is thinking what the hell has this thread turned into lol, especially when it died two weeks ago and now it’s turned into a political debate. Sigh.

[Stuntman]

14 hours ago, ArgentSmith said:

I think people are actually scared of freedom, most people want to be told what they can and cant do, what's best to eat, how often should they eat etc, the list goes on and on.

I agree with this, and in my opinion it has definitely got quite a lot more pronounced since the first Covid lockdown in the UK in March 2020.  This suits the authorities just fine - a docile, compliant population waiting for instruction from the State and then generally complying.

Anyway, back on track:

Silver has gone up by about 10% since I bought some more units in my SIPP a few weeks ago

I bought 2 oz of physical platinum a week ago, the price of platinum has gone up about 5% since then

I bought nearly 2 oz of physical gold bullion a week ago, the price of gold has gone down about 2% since then

I bought the 2022 gold five sovereign piece about 3 weeks ago, and then the Queen died. 

RIP your Majesty.  My coin is not being flipped.  Not a chance.

And I haven't proposed marriage to anyone else 😉

[GoldDiggerDave]

Answer to the question from the OP the day and time you can afford to buy it………forget getting bogged down with pie charts and PowerPoints (fair enough if you are buying millions of pounds worth) for the normal guy in the street it’s  a simple answer….can I afford to buy it? Yes then buy it! 

[LemmyMcGregor]

1 hour ago, GoldDiggerDave said:

Answer to the question from the OP the day and time you can afford to buy it………forget getting bogged down with pie charts and PowerPoints (fair enough if you are buying millions of pounds worth) for the normal guy in the street it’s  a simple answer….can I afford to buy it? Yes then buy it! 

QFT

[MonkeysUncle]

On 06/09/2022 at 16:33, katyc said:

One thing that I always wondered about is if you lose your job you get unemployment allowance (something like £75 a week I believe). But if someone earns 100k a year they pay over £34k Tax/NI a year. If someone earns 50k they pay appx 12.5k in tax/NI. 20k earning is appx £2.5k. 15k is £800. The tax brackets are fair because someone on 15k can't afford to be paying more and that's totally fine. But when any of these people lose their job (through no fault of their own) they all get 75 quid a week unemployment allowance. Is that fair? Really...? 🤔

The reality is they would get nowt, nada, zero, zilch, as unless the Government investigator who probes you decides you can't afford the proverbial pot to wee wee in then you can go forth.

National Insurance? Pah!

Turn your money into physical items, like bullion or jewellery or Swiss watchesor  rare and collectible  cars, or even pound notes. Stuff that won't lose value. Houses are a bit tricky to hide though unless you have a convenient leylandii hedge... and besides which I totally believe that the property market is going to tank very badly.

Top Tip: if you must hide Sovs under the mattress it's more comfortable to take them out if the tube first!

[flyingveepixie]

 

8 hours ago, MonkeysUncle said:

and besides which I totally believe that the property market is going to tank very badly.

We tried to sell our humble abode back in March but couldn't find a place to buy which wasn't in some way inferior or involved a compromise so after 8 weeks of scanning endless pages of hideous new builds we took it off the market again. The point of interest is that yesterday two houses came up for sale in our street, both smaller than ours - one is a 3 bed, the other is a 4 bed, ours is a 5 bed - and both asking respectively £25k  and £35k more than we were asking a mere six months ago.  My eyes popped when I saw the asking prices. What would be the asking price for our humble little five bed now I wonder..  £45-50k more than what we were advised to ask back in March..?   Seems ludicrous.  I guess the proof of the pudding will be whether they sell or not but it seems to me the housing market is being inflated as much as everything else...🤔

Edited September 21, 2022 by flyingveepixie

[LemmyMcGregor]

1 hour ago, flyingveepixie said:

 

We tried to sell our humble abode back in March but couldn't find a place to buy which wasn't in some way inferior or involved a compromise so after 8 weeks of scanning endless pages of hideous new builds we took it off the market again. The point of interest is that yesterday two houses came up for sale in our street, both smaller than ours - one is a 3 bed, the other is a 4 bed, ours is a 5 bed - and both asking respectively £25k  and £35k more than we were asking a mere six months ago.  My eyes popped when I saw the asking prices. What would be the asking price for our humble little five bed now I wonder..  £45-50k more than what we were advised to ask back in March..?   Seems ludicrous.  I guess the proof of the pudding will be whether they sell or not but it seems to me the housing market is being inflated as much as everything else...🤔

I don't believe that properties will tank, I don't see any rationale and none was offered.

For properties to tank you would need to have a drop in demand or a massive spike in supply, neither are going to happen as houses are not being built quick enough and the government keeps allowing illegal mass immigration for which they require a gynormous number of properties.

The only scenario in which we would see housing prices tank goes straight into conspiracy realm and is linked to vaccines and mortality, but I would say that this is really way off topic.

[flyingveepixie]

5 hours ago, LemmyMcGregor said:

I don't believe that properties will tank, I don't see any rationale and none was offered.

For properties to tank you would need to have a drop in demand or a massive spike in supply, neither are going to happen as houses are not being built quick enough and the government keeps allowing illegal mass immigration for which they require a gynormous number of properties.

The only scenario in which we would see housing prices tank goes straight into conspiracy realm and is linked to vaccines and mortality, but I would say that this is really way off topic.

I don't see the market tanking anytime soon either but one has to ask how long the endless upward spiral of house prices can go on, although I suppose it's linked to the ongoing devaluation of the pound which is the real issue...

[LemmyMcGregor]

4 minutes ago, flyingveepixie said:

I don't see the market tanking anytime soon either but one has to ask how long the endless upward spiral of house prices can go on, although I suppose it's linked to the ongoing devaluation of the pound which is the real issue...

Well, the upwards spiral is for the aforementioned motives, we have a huge influx of foreign population that needs to be housed, this creates a shortage in the market and when demand outstrips the offer prices skyrocket, is economy 101. There is also the case for inflation, but again, even if presented with devaluation, houses would still remain high in comparison to incomes as they'd drop in the same manner while maintaining the rate.

Now, it could be well possible for the market to stop raising if we stopped inflation and immigration, but most certainly would not go down unless one of two things occur, either we build large quantities of housing, or we drastically reduce population.

As long housing is not built and population rises, the prices will sky rocket even more. If you could foresee a case in which housing is not built, population rises and prices drop without government intervention, please, do share with us.

[MonkeysUncle]

My belief of a housing market crash is based on the one very simple principle - namely interest rates are going to climb significantly and stay up for the foreseeable. This will lead to many folk not being able to meet mortgage repayments which will lead to repossessions. Other folk won't be able to afford a mortgage to start with.

This is something I firmly believe is going to happen in the UK very soon and I have organised my finances based on this principle.

I also have 20 to 30% off the FTSE and Dow (only two indices I take note of) and gold at $1,500.

I have been accused of being a permabear on more than one occasion. But I'm not doing too bad for a working class Northerner who started wi' nowt.

[SidS]

I've said it before many times, the policy makers allow uncontrolled immigration and always fail to build enough houses on purpose. They want house prices to stay high.

Either/or/both:

1) That's where their money is and they want to protect their investments.

2) They fear a total collapse of the housing market and it bringing the entire system down with it.

 

Take your pick.

[GoldDiggerDave]

1 minute ago, MonkeysUncle said:

My belief of a housing market crash is based on the one very simple principle - namely interest rates are going to climb significantly and stay up for the foreseeable. This will lead to many folk not being able to meet mortgage repayments which will lead to repossessions. Other folk won't be able to afford a mortgage to start with.

This is something I firmly believe is going to happen in the UK very soon and I have organised my finances based on this principle.

I also have 20 to 30% off the FTSE and Dow (only two indices I take note of) and gold at $1,500.

I have been accused of being a permabear on more than one occasion. But I'm not doing too bad for a working class Northerner who started wi' nowt.

Agree the housing market will be stressed, but those thinking they will be able to mop up property for 1/2 market rate will be sadly mistaken, we will see more government meddling where contracts will be handed to the likes of black rock to buy up residential property this will be sold to the plebs as drastic measures to prop up the housing market, where I reality is just more wealth grabbing.  
 

I think most of us now can smell change around the corner and for most it will be a bloodbath, those who have exposed themselves the most to inflation will be the fist ones bankrupt. 

[Bigmarc]

5 minutes ago, MonkeysUncle said:

This will lead to many folk not being able to meet mortgage repayments which will lead to repossessions. Other folk won't be able to afford a mortgage to start with.

This is something I firmly believe is going to happen in the UK very soon and I have organised my finances based on this principle

I am in this bracket, and just like to add there are potential redundency's on top of this as company's scale back their operations due to population reducing their spending. To be honest it needs to happen as the youth of today have written off buying a house. 

 

[GoldDiggerDave]

1 minute ago, SidS said:

I've said it before many times, the policy makers allow uncontrolled immigration and always fail to build enough houses on purpose. They want house prices to stay high.

Either/or/both:

1) That's where their money is and they want to protect their investments.

2) They fear a total collapse of the housing market and it bringing the entire system down with it.

 

Take your pick.

Immigration is not by mistake. It’s a proven tactic for government to bolster the child birth rates and keep real wages low……just look at America, you get a generation of sub working class without a power base so they will do what they are told and will work for peanuts and if they don’t toe the line they are threaten with deportation to Rwanda.  
 

[LemmyMcGregor]

43 minutes ago, MonkeysUncle said:

My belief of a housing market crash is based on the one very simple principle - namely interest rates are going to climb significantly and stay up for the foreseeable. This will lead to many folk not being able to meet mortgage repayments which will lead to repossessions. Other folk won't be able to afford a mortgage to start with.

This is something I firmly believe is going to happen in the UK very soon and I have organised my finances based on this principle.

I also have 20 to 30% off the FTSE and Dow (only two indices I take note of) and gold at $1,500.

I have been accused of being a permabear on more than one occasion. But I'm not doing too bad for a working class Northerner who started wi' nowt.

 

37 minutes ago, SidS said:

I've said it before many times, the policy makers allow uncontrolled immigration and always fail to build enough houses on purpose. They want house prices to stay high.

Either/or/both:

1) That's where their money is and they want to protect their investments.

2) They fear a total collapse of the housing market and it bringing the entire system down with it.

 

Take your pick.

The moment that folks default on their mortgages bank will have cheap house in their possession as they are partly paid, and banks are already getting in the housing markets. This leads to keeping prices high so that banks that are financed through bailouts can purchase what we can't.

Banks are already becoming big players in the housing market.

https://www.reallymoving.com/blog/october-2021/what-does-banks-buying-properties-to-rent-out-mean-for-first-time-buyers

[SidS]

More than a few banks of course were Building Societies in the past. So they know this market already.

[Stuntman]

5 hours ago, Bigmarc said:

I am in this bracket, and just like to add there are potential redundency's on top of this as company's scale back their operations due to population reducing their spending. To be honest it needs to happen as the youth of today have written off buying a house. 

 

This has happened to me in the last 3 weeks.  Completely out of the blue.

[Bigmarc]

17 minutes ago, Stuntman said:

This has happened to me in the last 3 weeks.  Completely out of the blue.

Sorry to hear that, hope you have something lined up. I work for one of the top 4 vehicle manufacturers in the world and they are laying off most of their management staff. Most of the in-direct staff are panicking. The strangest thing is we are about 18 months behind on build.

[Stuntman]

Nothing lined up at this stage - I have appealed the decision, appeal hearing in a couple of weeks.
It sucks, but I will likely have to move on and find myself another job.  Easier said than done at the moment.

[katyc]

22 minutes ago, Bigmarc said:

Sorry to hear that, hope you have something lined up. I work for one of the top 4 vehicle manufacturers in the world and they are laying off most of their management staff. Most of the in-direct staff are panicking. The strangest thing is we are about 18 months behind on build.

Wow. Now that really makes you wonder what's going on in the world 

20 minutes ago, Stuntman said:

Nothing lined up at this stage - I have appealed the decision, appeal hearing in a couple of weeks.
It sucks, but I will likely have to move on and find myself another job.  Easier said than done at the moment.

Really sorry to hear this. I hope something works out for you soon 🤞

[Bigmarc]

14 minutes ago, katyc said:

Wow. Now that really makes you wonder what's going on in the world 

Nothing other than greed, two months a go they reported a profit of 6 billion in 6 months. 

Unless they see something on the horizon, who knows.