Coronavirus Thread (Off Topic, Politics) (40 Viewers)

shmmeee · Jul 8, 2020

Ian1779 said:
Sunak hadn’t even finished the sentence about stamp duty and the wife wants to move again.

Is this a good time to sell and upsize or would holding off be better.... any advice would be welcome which I can then pretend were all my own thoughts!

Market is funny right now. Talking to my mortgage broker the other week and they were saying the lenders expect a crash and are tightening up lending guidelines expecting more equity to cover this crash. Doesn’t help you as you’re buying and selling in the same market not looking to invest (or like me squeaking onto the ladder with just enough for a 10% deposit).

There’s clearly a bit of pent up demand right now and I’ve had several offers of asking price rejected whereas a month ago the U.K. average sale was 97% of asking. I suspect people are both sick of their house and many now need WFH space. Which might inflate certain segments of the market.

When I asked my property investor boss about this his advice was “never worry about the market if you’re buying to live in it”.

chiefdave · Jul 8, 2020

Ian1779 said:
Sunak hadn’t even finished the sentence about stamp duty and the wife wants to move again.

That was a bit annoying as someone who moved right before the pandemic and then saw house prices immediately drop.

chiefdave · Jul 8, 2020

SBAndy said:
The VAT cut is a marginal help, essentially a 12.5% price cut for hospitality and leisure. Is that going to spur people on to go away/go out? Who knows. Nice offer but is it significant enough?

How many places won't pass the cut on to the consumer but will use the higher rate coming back in as an excuse to hike prices up?

wingy · Jul 8, 2020

Don't initiatives like this just become absorbed into the pricing?

David O'Day · Jul 8, 2020

chiefdave said:
How many places won't pass the cut on to the consumer but will use the higher rate coming back in as an excuse to hike prices up?

It appears it may only be on food so any pubs that's biggest markets are drink will not benefit, so that's saturday night bars and old man pubs.

skybluetony176 · Jul 8, 2020

Very uninspiring. I can only assume that they’re either keeping something back for the autumn budget when the miracle they’re hoping falls in their laps doesn’t materialise or they’re holding back for next year when the transition period ends and the inevitable fuck up that’s brexit hits home.

wingy · Jul 8, 2020

skybluetony176 said:
Very uninspiring. I can only assume that they’re either keeping something back for the autumn budget when the miracle they’re hoping falls in their laps doesn’t materialise or they’re holding back for next year when the transition period ends and the inevitable fuck up that’s brexit hits home.

Keep wondering if it is for major manufacturer loan/ part Nationalisation .
Either that or mergers / takeovers by international behemoths.

David O'Day · Jul 8, 2020

skybluetony176 said:
Very uninspiring. I can only assume that they’re either keeping something back for the autumn budget when the miracle they’re hoping falls in their laps doesn’t materialise or they’re holding back for next year when the transition period ends and the inevitable fuck up that’s brexit hits home.

Exactly, there is nothing there that would really help.

There is still a very large demand shock that hasn't been dealt with

David O'Day · Jul 8, 2020

Anyway just imagine how bad the 2008 crisis would have been if the Tories were in power

David O'Day · Jul 8, 2020

wingy said:
Keep wondering if it is for major manufacturer loan/ part Nationalisation .
Either that or mergers / takeovers by international behemoths.

There was absolutely nothing for manufacturing was there. That was a surprise.

shmmeee · Jul 8, 2020

David O'Day said:
Anyway just imagine how bad the 2008 crisis would have been if the Tories were in power

We’re so lucky Brown was there at the time. You just have to look at the mess they made of the recovery to see how bad it’d have been. And as we lead the global response at the time (imagine us doing that now?) it would’ve meant the world economy would likely have been in the toilet.

skybluetony176 · Jul 8, 2020

Just for comparison here’s what a country who managed the virus to the point where it’s pretty much eliminated has done New Zealand launches massive spending package to combat Covid-19 this is a country that is pretty much fully open again except to tourism so is having an easier time of it than is.

clint van damme · Jul 8, 2020

skybluetony176 said:
Just for comparison here’s what a country who managed the virus to the point where it’s pretty much eliminated has done New Zealand launches massive spending package to combat Covid-19 this is a country that is pretty much fully open again except to tourism so is having an easier time of it than is.

Must be a mistake. Johnson said his government has done more than any other

Ring Of Steel · Jul 8, 2020

clint van damme said:
Must be a mistake. Johnson said his government has done more than any other

Apparently the track & trace app is now live over here, don't know whether to download the thing or not

chiefdave · Jul 8, 2020

clint van damme said:
Must be a mistake. Johnson said his government has done more than any other

Are you sure he didn't say world beating?

Sky Blue Pete · Jul 8, 2020

Infections up 630 still over 100 deaths

David O'Day · Jul 8, 2020

Peston raised a good point for once

The half price eating out will just switch weekend trade to a mon/tues/wed and not increased demand or spending by much

David O'Day · Jul 8, 2020

Sky Blue Pete said:
Infections up 630 still over 100 deaths

125k tests processed so that will be from about 62k people tested

SBAndy · Jul 8, 2020

David O'Day said:
Peston raised a good point for once

The half price eating out will just switch weekend trade to a mon/tues/wed and not increased demand or spending by much

Also raises the issue that some restaurants may have been intending to close/operate reduced staffing during the week but may now have to employ more (and this spend more of their cash) in the hope this scheme pays off.

Deleted member 4439 · Jul 8, 2020

David O'Day said:
... and there's an unneeded stamp duty cut.

It's needed by their mates who build homes, and who need the churn. That's why it's also on second homes. We know of course that it's the last thing the country needs.

Lockdown was a disaster for the country's finances, though I'm not sure there was an alternative.

chiefdave · Jul 8, 2020

David O'Day said:
The half price eating out will just switch weekend trade to a mon/tues/wed and not increased demand or spending by much

I know its been joked about on social media but there is never a shortage of this type of midweek offer on sites like Groupon. It seems a very odd thing to have come up with.

ajsccfc · Jul 8, 2020

Buying through the meerkat insurance site in particular gives you 2 for 1 at restaurants all year barring Fridays and Saturdays which makes this Mon-Wed in August thing a bit of a miss

dutchman · Jul 8, 2020

Does the discount apply to fish & chip shops?

David O'Day · Jul 8, 2020

It's just the Chancellor breaking the rules by acting as a waiter while not wearing a mask

stupot07 · Jul 8, 2020

Really interesting observation from Peston

Sent from my SM-G965F using Tapatalk

Ian1779 · Jul 8, 2020

shmmeee said:
We’re so lucky Brown was there at the time. You just have to look at the mess they made of the recovery to see how bad it’d have been. And as we lead the global response at the time (imagine us doing that now?) it would’ve meant the world economy would likely have been in the toilet.

Oven ready recovery plan brought to you by boil in the bag economics.

Ian1779 · Jul 8, 2020

Thanks for all the housing market advice. I think it’s still pretty uncertain out there... as much as the wife was excited about the stamp duty, she did also acknowledge that it probably isn’t going to be a priority for a lot of people, and their are probably better priorities to be focusing on.

chiefdave · Jul 8, 2020

Ian1779 said:
Thanks for all the housing market advice. I think it’s still pretty uncertain out there... as much as the wife was excited about the stamp duty, she did also acknowledge that it probably isn’t going to be a priority for a lot of people, and their are probably better priorities to be focusing on.

Nothing to stop you whacking in low offers on places and see what response you get. Although once you get to the looking at houses stage you might be at the point of no return with the wife and have to move even if you aren't getting a bargain.

Ian1779 · Jul 8, 2020

chiefdave said:
Nothing to stop you whacking in low offers on places and see what response you get. Although once you get to the looking at houses stage you might be at the point of no return with the wife and have to move even if you aren't getting a bargain.

Yep you can see how that would unfold a mile off. I’m inclined to think that if we put ours up we aim for a higher price and then if it goes it would help.

SBAndy · Jul 8, 2020

Ian1779 said:
Thanks for all the housing market advice. I think it’s still pretty uncertain out there... as much as the wife was excited about the stamp duty, she did also acknowledge that it probably isn’t going to be a priority for a lot of people, and their are probably better priorities to be focusing on.

Certainly locally, the housing market is fairly buoyant. There will be important considerations like job security on your ability to meet repayments, but I wouldn’t expect that to be too much trouble for you as a teacher.

Also depends on the equity stake in your property as to how you approach this. May even be opportunity to look at let-to-buy or splitting your equity stake across 2 properties seeing as stamp duty has been cut on these purchases as well.

Wyken Sky Blue · Jul 8, 2020

Walsgrave · Jul 8, 2020

skyblue1991 said:
View attachment 15797

It kind of shows just how poor people are at cooking that the economy is so reliant on the health of restaurants. I know in other countries a high proportion eat out quite often too, but given how expensive the average meal is here, it shows how bad we are at educating people on things like cooking, for both health and personal finance benefits. Obviously I want restaurants and bars to recover and all!

fernandopartridge · Jul 8, 2020

Walsgrave said:
It kind of shows just how poor people are at cooking that the economy is so reliant on the health of restaurants. I know in other countries a high proportion eat out quite often too, but given how expensive the average meal is here, it shows how bad we are at educating people on things like cooking, for both health and personal finance benefits. Obviously I want restaurants and bars to recover and all!

Do you think that's the reason? I think it's more that casual dining has replaced the pub in many respects. Also a bit of a lifestyle thing too, it's a social media event for some.

wingy · Jul 8, 2020

It's been a saturated sector for a while now .
Quite a few failures prior to this .
One of the hopes of local authorities trying to drive a recovery in City centres but failing I think.

Walsgrave · Jul 8, 2020

fernandopartridge said:
Do you think that's the reason? I think it's more that casual dining has replaced the pub in many respects. Also a bit of a lifestyle thing too, it's a social media event for some.

To be fair everything is related in some way. Self-sufficiency in terms of cooking has been poor in the UK and US (I can't comment on other Western countries), but I know that even in other countries where people eat out a lot, the basic cooking skills are emphasised, whereas here we tend to clap when someone can put together a full English breakfast or beans on toast.

So then we have lots of people who are reliant on restaurant meals/takeaways. I don't necessarily begrudge their decision and I'm happy for people to make their own choices, but we generally lack an emphasis on cooking skills. Heck, even the stuff people buy in shops consists of either ready meals or relatively easy-to-cook meals. I think we may be seeing more of a shift away though, which is encouraging, because of things like veganism etc.

Coronavirus Thread (Off Topic, Politics) (40 Viewers)

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