GB pound weakening

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Feb 5th 2009, 8:53 am

#271

Londonuck

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Re: GB pound weakening

Quote:

Originally Posted by Wendy Nesbeth

We lost just under a Hundred thousand pounds just after 9/11. That was our nest egg for our retirement.

It makes me feel sick everytime I think about it.

Wendy x

Lost around $250k on dot com collapse.

What doesnt kill you make you bitter and twisted AND WHERE IS MY FKING RIFLE... TO THE ROOF... TO THE ROOF

Feb 5th 2009, 10:55 am

#272

shirley and anthony hide

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Re: GB pound weakening

Quote:

Originally Posted by bigglesworth

The Halifax this morning reports a RISE of 1.9 in house prices in January year on year.
PMI data yesterday stronger than anticipated.
Long haul yet but it just could be beginning to bottom out.

Nationwide reported drop 0f 1.3% last week ,so if your buying ,buy from Nationwide and if your selling go thru Halifax!

"There are three kinds of lies: lies, damned lies, and statistics."

Feb 5th 2009, 11:27 am

#273

bigglesworth

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Re: GB pound weakening

interest rate cut by another half percent and the pound has gone UP.

Methinks they have rumbled Gordon!

Feb 5th 2009, 11:36 am

#274

billgates

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Re: GB pound weakening

Quote:

Originally Posted by bigglesworth

The Halifax this morning reports a RISE of 1.9 in house prices in January year on year.
PMI data yesterday stronger than anticipated.
Long haul yet but it just could be beginning to bottom out.

I wouldn't get too optimistic about bottomming out.
This crash has only just started.
The only people that can afford to buy a house at the moment are those with huge savings. First-time buyers are still priced out and will be until starter homes come down to about 3.5x average salary. Even if FTBs are foolish enough to want to take on a huge mortgage commitment the banks won't lend unless they have a very large deposit.

Also, those figures from Halifax and Nationwide won't take into account all the people recently made redundant, nor all the up and coming redundancies that will be happening this year. Redundant families are going to be forced-sellers and they will have to take whatever they are offered or face being repossessed.

It's getting scary all over the developed world. And Spain will be one of the hardest hit. How many builders have been laid off where you live?

Feb 5th 2009, 12:24 pm

#275

jdr

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Re: GB pound weakening

Quote:

Originally Posted by bigglesworth

The Halifax this morning reports a RISE of 1.9 in house prices in January year on year.
PMI data yesterday stronger than anticipated.
Long haul yet but it just could be beginning to bottom out.

If you believe that you will believe anything, of course they are not biased in any way. lol

Feb 5th 2009, 2:36 pm

#276

bigglesworth

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Re: GB pound weakening

Quote:

Originally Posted by bigglesworth

The Halifax this morning reports a RISE of 1.9 in house prices in January year on year.
PMI data yesterday stronger than anticipated.
Long haul yet but it just could be beginning to bottom out.

Sorry all. I missed out important part - 1.9 was december to january. Year on year is still 17 % down. (Although housing decline is slowing too).

My "bottoming out" comment referred to the pound,.

SORRY

Feb 5th 2009, 3:41 pm

#277

poshnbucks

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Re: GB pound weakening

This recession isn't all bad – you can get reservations in the best restaurants, cut-price fees at public schools, and bespoke suits for a snip.

http://www.telegraph.co.uk/finance/f...the-slump.html

You can all dream can't you.......................

Feb 5th 2009, 4:37 pm

#278

anna58

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Re: GB pound weakening

Quote:

Originally Posted by SaritaBarcelona

I feel I have to make a comment here, that being a slightly "younger person" than some I am most envious that you have all been able to save all this money! My generation, born late 60s/early 70s and beyond, are finding it hard now and are going to find it very very hard in their retirement. My parents complain that they only get 1% on their savings, but at least they have been able to save a fair chunk during their working lives and own their own home outright (mainly thanks to Maggie T and her housing policy). I know it is hard for pensioners now, but you ain't seen nothing compared to what my generation are facing! (we''ll be paying off all this current mess for one). I know few people of my age who can genuinely save money (in Spain). I know many people live beyond their means but many simply don't and can't earn enough to pay their bills, let alone save (especially in Spain, with the wages as low as they are). Arrrggghhhh! Just have to keep buying the Once and EuroMillions, it's the only answer for me...

This makes me mad, we had hand me down beds, sheets, pillows, saucepans, china etc. for years and years, only after my children were grown up did we start to get new things, you see younger people now buying new clothes and household goods wherever you go in the UK. We didn't have choices of soap, shampoo, body lotion (don't suppose we'd heard of that) and so on. Life was simple, both my husband and I remember newspaper looped up with string in lieu of toilet paper, look on the thread about saving money on Martins Money saving tips and see how much people can save when they start really trying.

Feb 5th 2009, 4:48 pm

#279

lic

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Re: GB pound weakening

The U.K. has always had massive debt. If I remember correctly the last repayment for WWII was made in February 2008.
Don't beleive all the hype about debt from the Government, it is their way of keeping wges down, and inflation down.. Low inflation is good for the rich, but bad for the average person. If you have a debt like a mortgage inflation helps you pay it back quicker. If yo have savings inflation is bad.
I agree that many young people want everything new and now! They want to live in a house/area that their pearents do. Their parents either bought lucky, or trade up the property ladder.
I am in my 40's and furnished my first house with second hand furniture from the local rag.
Saving money is never easy, but that is what the majority in any country have to do to get what thye want. Sometimes even then yo can not afford it.

Feb 5th 2009, 4:49 pm

#280

Econ

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Re: GB pound weakening

Quote:

Originally Posted by anna58

... and kids all run around now with a mobile phone (Anyone that had a ' phone ' when I was a kid was either dam lucky or had a bob or two), mp3 players, portables, fancy jeans etc. etc. how the hell do they afford them is what beats me? it not all bought by their parents!

Feb 5th 2009, 5:28 pm

#281

jackytoo

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Re: GB pound weakening

No-one wants to go back to the past- OK you managed, do you want to have to do it again!

Feb 5th 2009, 5:30 pm

#282

lic

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Re: GB pound weakening

Quote:

Originally Posted by Helpful-Bob

The pound is and will come back against the Euro.
There are still lots of pointers to the weakness of the Euro not declared

I agree that is what Europe seems to be about. Knock the Uk, but keep your own policies going, and keep quiet about the falts.
I do not support UKIP, but I heard one of thier spokeman on the radio the other day.
He said something like, Uk pay more than anyone else to be a member of the EU club. He was a member of a club in London, and stated that the membership for that club was the same amount for everyone. His point being every EU member state should pay the same.
I cannot falt that particular train of thought!

Feb 5th 2009, 5:38 pm

#283

Econ

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Re: GB pound weakening

Quote:

Originally Posted by lic

The conservatives 'Thatcher I beleive' fought dam hard and reduced our payment into the EU but some idiot, you know the one... Tony Blair!... increased it again :curse:

Feb 5th 2009, 5:51 pm

#284

lic

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Re: GB pound weakening

Quote:

Originally Posted by jackytoo

No-one wants to go back to the past- OK you managed, do you want to have to do it again!

I think the point you may have missed is that people have choices.
Do I buy new or second hand? Can I afford it? If I buy this now, what can I not buy in the furture?
The majority 'manage' in life, it is the choices they make, that determine how they manage.