BTC withdrawals not working right now on zencloud... Any news on that?
No they're not. Just tried the same too. They're just playin everyone now. Ran off with the BTC no doubt. Maybe, but you know the saying about malice and incompetence. Cloud mining has been textbook misallocation of capital. |
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Those interested in real estate, run out now and take the longest possible mortgage at a FIXED rate in the domestic currency of where the property is located and/or you wealth with rates this low. If you use a cross-currency, then you better pay attention to hedging. This is a hedge so if it ever gets that bad, you can just walk away as did the Romans. DO NOT assume real estate is a store of value. That depends on the taxation level of the local government and the location. Ah this is the article I cam across recently. I'm certainly not pinning my hopes on capital gain. But with a fixed rate mortgage and assuming I had to rent the place out, rents would have to fall by approximately 40% for me to start being concerned about my mortgage payments. I do like the idea of getting a yen loan, but with the euro being such a basket case any significant fluctuation in exchange rate means that it'd be simply too risky. |
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Thanks iamback. I appreciate the link. I'll have a read and I'll email him too. |
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BTC withdrawals not working right now on zencloud... Any news on that?
I had some dust that I tried to take out a while back- but it's likely they're bankrupt. So personally I'm just writing off the miners I had. |
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Buying now is a good option. Mortgage rates are low as are the housing prices. Buy cheap and loan cheap. If you have money to invest to downsize the mortgage amount you should do so. While living there yourself you can deduct the interest and the monthly cost would be far less then when you would have rented a place like that. If you ever consider to leave and rent it out, try dividing it in rooms for students. For now if you would rent it out, the first three years you do not have to pay taxes for the possession of the house or the rent income, though you loose the deduction. And only if you have the house for sale, bit shady, because having the intention to sell is enough. 'Stille verkoop' Good luck and go for it!! Do not worry about the water levels, luctor et emergo  I will not over extend myself with debt, this is the first time I have considered any debt I could not pay off the next day. But I will also not tie up any of my savings unless I have to. Thanks for the advice neoneros. Let's hope the rest of the West can luctor et emergo to! |
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If the house still in a good case you can sure invest in it , maybe after 10 or 11 year you will get you ROI but don't forget that the house will still on your hand too you can then rent it as you want and sell it after that  Renting in the future is the major incentive for me. The other benefits I would get from owning are a bonus. |
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Isn't Europe about to collapse into a Sovereign Debt collapse BIG BANG this year (or next) according to Martin Armstrong's models. In what universe would that not mean a collapse in real estate prices and an increase in taxation??
Armstrong has also written about the bubble in real estate in Switzerland. He has also written about the real estate loans throughout Europe denominated in Swiss francs, that will blow up because of the abrupt and egregious appreciation of the franc since the Euro peg failed recently.
C-O-N-T-A-G-I-O-N.
The comments in this thread are interesting because it means there are some (most?) who still don't believe the contagion will affect all of Europe (are they correct?) and thus the stampede out of Europe will be abrupt as these people wake up to a contagion and try to all exit at the same time too late.
You know I agree that the direction the West is going is not good. I am just wondering if this can kicking cannot go on for a long time yet- just look at the freak show in Greece right now, it's like watching a punch and judy show. I think that there is some argument that as everything is falling apart, real estate in affluent major cities could retain some safety- see London for example where wealthy multinationals have been buying up huge chunks of houses, largely French and Chinese. Doesn't Martin Armstrong also advocate getting a long term fixed rate mortgage right now if you can? In a worst case scenario, I'd be out maybe 7000-9000 eur on fees and surveys, a state mandated insurance (that the borrower pays for) backstops the banks in case of default. I see it one of two ways- best case I have a cash-flowing property in the long term, worst case, I along with the rest of Europe go into default. Be sure I will be reading through my terms and if in the event of default I will still be on the hook for the mortgage in the event of bankruptcy I will seriously reconsider my position. |
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Besides the financial risk, you may be warned about climate change. I've seen maps where most of Holland was flooded because of rising sea levels. That could happen sometimes around year 2200. Maybe as soon as 2150.
You know, that's the only factor that I have not taken into consideration. Amsterdam isn't far above sea level. But if it's one thing the dutch can do it's water drainage. Probably worth doing some research into, thanks. |
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i think its a good idea , ive heard good things about buying houses in amsterdam. saw some article about it while back , not sure where tho : >
From a speculative/rental property point of view it is probably a reasonably good idea. But nothing is ever certain, I am in a lucky position of having access to some favorable finance options due to my bank/job so it may be worth the risk. |
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you're buying directly with bitcoin, or conveting to fiat first?
I'll be taking a mortgage out. I'm not that bitcoin-rich, so just plain old fiat based debt! I've already sold half of my bitcoin when it became clear (even to me) that there would be a washout, which happened and now I'm waiting for the bounce that we've witnessed to terminate, to go long again. |
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Amsterdam's definitely a major city so it's look like a safe investment, if you can afford property tax, which can only go up.
I advise on getting a fixed-rate loan. The interest rate shall not change with your occupancy or renting. And don't worry about the euro crumbling. Your loan will not be pegged to the US dollar, nor the Swiss franc.
Thanks countryfree. I included it last as I see the euro ending as a remote possibility, but one to at least acknowledge. The property tax is affordable even if it's hard to swallow paying it. I'm not sure it will increase significantly though at least for the next few years. The rate will be fixed for a minimum of 10 years. I am considering 15. |
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This doesn't surprise me at all. Everywhere you turn the state is taking it's share. It is going to be a painful 5 years ahead for the West. |
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Is it for living ?
Yes, I work in the centre, sorry if I wasn't clear on that. OK then, good luck anyway. I visited the Netherlands once and loved Amsterdam  A good friend of mine also got married to a dutch and are living there.  Thanks mishax1! I really like it here too (I'm British). I'm just still a little unsure if it's a 'good' time to buy. I suppose if it was a 'good' time I'd probably already be priced out though! I don't care about capital appreciation- it'll be a home and a very long term investment to me. But I'd rather not wipe out my finances on a silly decision too. |
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Is it for living ?
Yes, I work in the centre, sorry if I wasn't clear on that. |
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I've read in some local news articles that Berlin is a good option for an investment in real estate due to it's growing population and a slow construction rate..
Some articles say it was the "secret hot" real estate investors spot for the past few years and it is growing.
Thanks, but I live in Amsterdam  |
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One more thing- I've been meaning to look at the cyclicality of housing in Amsterdam or the Netherlands, I've been unable to find up to date data on it. I'd like to compare it to stock indices.
I've found extensive historic data and some economic reports from banks, but still nothing like the raw data I can hack into a spreadsheet.
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One thing I'd perhaps consider is the "floating houses" (assuming there are still homes available).
Probably not, too much regulation, at least in the city of Amsterdam. I will only consider brick and mortar at least for now! |
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I'm thinking of buying a flat in Amsterdam or rather taking a mortgage out more specifically. Mortgage rates are pretty good and if I choose to I will have to invest little of my own money. Pros:- It's in a bustling major city
The market seems to have bottomed and is in a small upswing
Easy for me to get a good size mortgage
Rates are very low
Some tax benefits to owning
Beats renting
Can always rent it out fairly easily if I end up having to leave Amsterdam
Cons:- The Netherlands has punitive yearly taxes on owning real estate
Heavy deflation could turn the purchase sour
If I have to rent it out the bank will likely crank my interest rate up (no point in trying to rent it on the sly, I just don't want that kind of headache)
Somewhat hefty pricetag for intitial fees, survey ect..
Some regime uncertainty since The Netherlands is very leftwing and has only recently liberalized parts of their property market in the past few years
Could end up with a revalued mortgage if the single currency crumbles?
I'd really appreciate your thoughts guys, please point out any errors in my thinking or things I have overlooked... Thanks in advance! |
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Oh boy, good question. Probably bitcoin simply because of it's speculation attributes. Also I think silver above gold (just look at the gold to silver ratio).
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