The Finance Thread....

[Alistair20000]

Sods Law...After closing a couple of accounts & putting the money into NS&I in July they cut their bond rate from 1.15% to 0.01%

MY YBS 2 year bond has matured(1.5%) the new 2 year bond is 0.55% !
Into days climate I imagine that is good.

I’m sure one of you clever financial posters will be able to answer the question.
Is Quantitative easing a good thing or bad for the average taxpayer ?

Did you mean average saver ?

 

[Oldsmobile-88]

Did you mean average saver ?

Aye...

 

[The Proper Chap]

It's been a dire time to be a saver for years, things won't improve on this front.

Q E won't help savers.

 

[Alistair20000]

I concur with TPC

 

[angelic upstart]

Re house prices they should fall naturally in the next few years as net migration falls.

 

[GrecianLez]

We have bought a house thats needs a lot of work doing to it, we've spent almost 20k on it so far with a few more grand needed to be pumped into it.. Trying to find skilled workers has become a nightmare, our chippy is flat out, we need a rear wall repointed and our normal chap cant get to us until April next year.. our boiler and heating system is being replaced which luckily we had booked for this month but the plumber is booked up till march.. reason we've heard is people are wanting their house done ready to sell.. trying to get our decorated in and plasterer in is also a no goer for now having to be booked in for next year..

There does seem to be a lot of ready cash available. I sell online and had three months of epic sales as people were buying online.. almost 14k turned over in three months march to June..it died a bit in end of July beginning of august but now its gone back up.. I took it as people haven't gone on holiday so looking to buy things to occupy time home.. now we are in Q4 so Christmas round the corner I expect another good few months..

The real kicker will be what happens next year, Taxes will obviously rise, many will be jobless as their job no longer exists, many more companies will fold and I can see the lack of shops in the high streets, more will be unemployed meaning more wont be paying council tax.. so less CT and less business rates will put pressure on local council services...

gonna be a tough 5 years I reckon so sell and buy now your house now.

 

[manc grecian]

We have bought a house thats needs a lot of work doing to it, we've spent almost 20k on it so far with a few more grand needed to be pumped into it.. Trying to find skilled workers has become a nightmare, our chippy is flat out, we need a rear wall repointed and our normal chap cant get to us until April next year.. our boiler and heating system is being replaced which luckily we had booked for this month but the plumber is booked up till march.. reason we've heard is people are wanting their house done ready to sell.. trying to get our decorated in and plasterer in is also a no goer for now having to be booked in for next year..

There does seem to be a lot of ready cash available. I sell online and had three months of epic sales as people were buying online.. almost 14k turned over in three months march to June..it died a bit in end of July beginning of august but now its gone back up.. I took it as people haven't gone on holiday so looking to buy things to occupy time home.. now we are in Q4 so Christmas round the corner I expect another good few months..

The real kicker will be what happens next year, Taxes will obviously rise, many will be jobless as their job no longer exists, many more companies will fold and I can see the lack of shops in the high streets, more will be unemployed meaning more wont be paying council tax.. so less CT and less business rates will put pressure on local council services...

gonna be a tough 5 years I reckon so sell and buy now your house now.

The tradesman thing is doing my head in. We've got money to spend due to not going on holiday this year. Trying g to get someone to supply and fit some doors at the moment and it's impossible.

 

[elginCity]

Is Quantitative easing a good thing or bad for the average taxpayer ?

As a layman, I can see no upside to QE for the average taxpayer (or saver !) if the banks' tightened lending criteria means Joe Average SME is still unable to borrow. Higher national debt, less tax take, increased unemployment and public service cuts is never a good thing.

As some would say - "follow the money....."

 

[Alistair20000]

This is what happens when youngsters are encouraged to go to University studying useless degrees that have no value to employers. They would do much better to learn a trade. Instead they graduate with a load of debt and end up working in Weatherspoons. Those doors might be closed to them soon.

 

[lamrobhero]

From the Economist 30th September 2020 edition behind a subscription wall but I think non subscribers get a few freebies:

Why, despite the coronavirus pandemic, house prices continue to rise

Booming house prices spell more trouble for the social contract