Reply to: Where should I move my Sterling to?

[AlfredJPruffock]

Perhaps there is no safe place for your 'wealth' ... well not in this World


For it is written -


Lay not up for yourselves treasures upon Earth, where moth and rust doth corrupt, and where thieves break through and steal:

And - I have found this to be painfully true

But those who want to get rich fall into temptation and a snare and many foolish and harmful desires which plunge men into ruin and destruction.

Its not too late to heed these words :

Do not weary yourself to gain wealth, Cease from your consideration of it.

If anybody cares to contradict the above sage advices - publish and be damned.

[BlasterBates]

Warning bell

Looks like confidence is beginning to slip.

[Cyberman]

I don't need to buy now, I already bought in 2007.

Well, you said that it was a good idea

Er No.... I put my property on the market in June 2007 immediately prior to HIPS coming in.

[HairyArsedBloke]

Put money into stuff. The exchange rate between money/stuff is going to move in stuffs favour in the medium term.

[expat]

I read yesterday that many Expats are now buying property in the UK because property is more than 30% cheaper than it was very recently when taking into account the weakness of the pound plus market falls. I also read of a couple that had sealed bids for three separate properties had lost them all. It's not so easy now to see the market falling any further, so it just has to be the best time to buy.

I don't need to buy now, I already bought in 2007.

Well, you said that it was a good idea

[Fred Bloggs]

But residential propery is still around 35 to 50% over valued compared to salaries over the longer term. I would buy a property fund if I was thinking about property. Probably a commercial property fund.

[Cyberman]

I am currently not interested in buying in the UK as the cost of ownership is currently so high, and may get higher. Insurance, minium charges for gas, ele, etc. 'con. tax', the list goes on.

My electricity plus gas was 60 quid for the last quarter. Seems pretty reasonable to me. If it was a second property you'd be letting it anyway, so you'd be making profit on the income. The couple that looked at my place at the weekend are currently paying 1300 quid a month to rent a basic 3 bed place.

[alreadypacked]

I read yesterday that many Expats are now buying property in the UK because property is more than 30% cheaper than it was very recently when taking into account the weakness of the pound plus market falls. I also read of a couple that had sealed bids for three separate properties had lost them all. It's not so easy now to see the market falling any further, so it just has to be the best time to buy.

I am currently not interested in buying in the UK as the cost of ownership is currently so high, and may get higher. Insurance, minium charges for gas, ele, etc. 'con. tax', the list goes on.

[Cyberman]

I read yesterday that many Expats are now buying property in the UK because property is more than 30% cheaper than it was very recently when taking into account the weakness of the pound plus market falls. I also read of a couple that had sealed bids for three separate properties had lost them all. It's not so easy now to see the market falling any further, so it just has to be the best time to buy.

[alreadypacked]

Do not believe in forecasts, especially about the future.

How much the UK is in debt is not a forecast

[Cyberman]

Just buy property in the UK and your money will be safe in the long-run.

[expat]

Do not believe in forecasts, especially about the future.

You must be right about that, considering how little agreement there is about forecasts about the past.

[Francko]

Has Sterling recovered as much as it's going to?

Are we at the end of the current bounce?

Do not believe in forecasts, especially about the future.

[alreadypacked]

Has Sterling recovered as much as it's going to?

Are we at the end of the current bounce?

[BlasterBates]

I would advise investing in a global fund, this way you'll be protected against any currency movements. I've distributed my investments pretty smoothly accross the globe, with a huge dash of commodities, including fairly sizeable investment in a Gold mine. My remaining cash is in Euro, as I think the Euro is more stable than the pound and dollar.