The Cost Of Living Crisis

[mickbrown]

2 hours ago, Not in Crawley said:

Baxter Dury is supporting at Castlefield, now that is a great line up.

Would have loved to see Wedding Present - hope it was a good gig.

Fantastic, as ever.

They really are brilliant everytime I see them

 

[Zico]

2 hours ago, Not in Crawley said:

Spotify (and yes I use it) is evil for artists. They get paid next to nothing. Basically nowadays the actual.music is a gateway to the live experience.

But the biggest issue is that smaller and younger bands find it also.impossible to make a living and no record company invests in artists without an immediate return. Look at all the big heritage acts like U2, took 3/4 albums to start making a modest return - that model isn't possible anymore so you are going to get a pipeline problem - these bands will die off and the way we consume music means there will have to be a change to the live music experience. Heritage bands (with merch as well) prop up the bigger companies- Universal Catalogue is the highest earning part of the division and looks after the back catalogues of the big artists - living and dead (when dead artists can earn more with repackaged material then there is always a problem - but its also because the people buying this stuff is generally older middle aged gen x-ers with more disposable income than younger people and a generally completists by nature)

So Ulrich was right when he moaned all those years ago by Napster - basically getting a fair pay for a product made, which they can't now so they have to diversify and the older model is broken and in 10/15 years there will be a new problem of replenishment of artists that can sell at the required volume.

One way round this is the way they companies set up an artist like Billie Ellish. She was built over the course of 2/3 years before being released on the general mass public - so it looked like she came from.nowhere but everyone at the label (and further) had her as the number one priority. 

It's like AI and artists/creatives 

The term "struggling artist" is as relevant as ever 

I'd happily pay double for Spotify for what it's worth 

 

[Spider]

6 minutes ago, Zico said:

It's like AI and artists/creatives 

The term "struggling artist" is as relevant as ever 

I'd happily pay double for Spotify for what it's worth 

 

Aye

I have the family upgrade which gives you 4 users, £17 which is the cost of one record, for access to basicallly everything ever made.

It should be more

[stevieb]

9 hours ago, Spider said:

Aye

I have the family upgrade which gives you 4 users, £17 which is the cost of one record, for access to basicallly everything ever made.

It should be more

Does that mean my beatles / motown / soul algorithm won't get ruined by the baby shark, gangnam style from the kids and whatever shite my Mrs still thinking she's cool enough for ibiza at nearly 40 plays? 

Iamin 

[Not in Crawley]

8 hours ago, stevieb said:

Does that mean my beatles / motown / soul algorithm won't get ruined by the baby shark, gangnam style from the kids and whatever shite my Mrs still thinking she's cool enough for ibiza at nearly 40 plays? 

Iamin 

It won't as you are all different users.

[Spider]

8 hours ago, stevieb said:

Does that mean my beatles / motown / soul algorithm won't get ruined by the baby shark, gangnam style from the kids and whatever shite my Mrs still thinking she's cool enough for ibiza at nearly 40 plays? 

Iamin 

Correct.

 

[Zico]

Went to put air in my tires yesterday 

It's gone up from 25p to 50p 

That's inflation for you

[globaldiver]

On 07/06/2023 at 09:25, Zico said:

Went to put air in my tires yesterday 

It's gone up from 25p to 50p 

That's inflation for you

A well worn joke

[globaldiver]

Interesting read

https://www.newyorker.com/news/persons-of-interest/what-if-were-thinking-about-inflation-all-wrong?utm_social-type=owned&utm_medium=social&utm_brand=tny&utm_source=linkedin

[Sweep]

My mate has just had his new mortgage offer through, sadly he was on a 7 year fixed at 1.59%, which ends in September, I think he's now looking at something line 5.04% on a 5 year fixed. His monthly payments will rise from £1880 per month to £2804 per month.

That's a fair old whack for anybody to find. I'm glad I can just keep my head buried in the sand for another 5 years, and even then only have to worry about it when I've only got a couple of years left 

[Spider]

1 minute ago, Sweep said:

My mate has just had his new mortgage offer through, sadly he was on a 7 year fixed at 1.59%, which ends in September, I think he's now looking at something line 5.04% on a 5 year fixed. His monthly payments will rise from £1880 per month to £2804 per month.

That's a fair old whack for anybody to find. I'm glad I can just keep my head buried in the sand for another 5 years, and even then only have to worry about it when I've only got a couple of years left 

£1880 is a heavy duty mortgage

[Sweep]

1 minute ago, Spider said:

£1880 is a heavy duty mortgage

depends where you live I suppose, a lot around here are paying anywhere between £1000 and £2000 I'd say, and that's on current deals. 

There is a bit of an issue coming, and the banks won't want a load of defaults, so I presume they'll start extending peoples deals out to 25/30/35 years etc

One lad who I work with has just got his first mortgage, he's taken it on a 40 year term, as it's the only way he could afford it......and that's in Liverpool!

[Ani]

1 hour ago, Sweep said:

depends where you live I suppose, a lot around here are paying anywhere between £1000 and £2000 I'd say, and that's on current deals. 

There is a bit of an issue coming, and the banks won't want a load of defaults, so I presume they'll start extending peoples deals out to 25/30/35 years etc

One lad who I work with has just got his first mortgage, he's taken it on a 40 year term, as it's the only way he could afford it......and that's in Liverpool!

Mortgage in Liverpool is 95% insurance. 

[Casino]

https://www.thescottishsun.co.uk/health/10878632/closure-major-cancer-charity-threatens-treatments/

 

Nice

#fucked

[mickbrown]

2 hours ago, Spider said:

£1880 is a heavy duty mortgage

House on my road was up for rent for 6k a month.

Young couple paid a year up front. Fuck knows what they do for a living.

Edited June 26, 2023 by mickbrown

[tomski]

2 hours ago, Sweep said:

My mate has just had his new mortgage offer through, sadly he was on a 7 year fixed at 1.59%, which ends in September, I think he's now looking at something line 5.04% on a 5 year fixed. His monthly payments will rise from £1880 per month to £2804 per month.

That's a fair old whack for anybody to find. I'm glad I can just keep my head buried in the sand for another 5 years, and even then only have to worry about it when I've only got a couple of years left 

Taking a 5 year fixed seems bonkers at the mo. 
 

I did 2 years last October and think it will be a close call but hope I’m proved right.

[Leyther_Matt]

We’re fixed on 2.11% until Dec 2025 so I’m hoping it’s all calmed down a bit by then

[Carlos]

Aye, 2 years left at 1.74%

@HazzyinBolton with the deals. Can't recommend enough.

 

[Tonge moor green jacket]

1 hour ago, Casino said:

https://www.thescottishsun.co.uk/health/10878632/closure-major-cancer-charity-threatens-treatments/

 

Nice

#fucked

Never heard of that charity!

Cancer Research, Marie Curie etc yes, but not that one.

[Winchester White]

We've had to move to variable tracker and extend the term to keep payments down. Hoping things settle down in a year or two then overpay to get things back on track.

In hindsight we should have fixed but circumstances meant the Royal We had to quickly sort something and after the Truss debacle I hoped a better fix would come out but things have gone from bad to worse.

[Sweep]

1 hour ago, Leyther_Matt said:

We’re fixed on 2.11% until Dec 2025 so I’m hoping it’s all calmed down a bit by then

When we moved house a couple of years ago, we fixed 7 years at 1.99%, obviously more luck than judgement, but I'll take it 🙂

Edited June 26, 2023 by Sweep

[globaldiver]

1 hour ago, tomski said:

Taking a 5 year fixed seems bonkers at the mo. 
 

I did 2 years last October and think it will be a close call but hope I’m proved right.

I think I’d be on SVR at the moment, ready to fix at any time. 

[Jol_BWFC]

Was on a 5 year fixed that expired in June this year. Decided in Q4 last year to break early and get another 5 year fix at 3.5%. Same deal now is just shy of 5%. 2 year fixed with the same lender is 5.6%.

Looking at the forward curve, whilst rates will do down, gone are the days of sub-2% deals. Back in 2016 I had a 0.99% deal with HSBC - crazy looking back at it.

[Tonge moor green jacket]

22 minutes ago, globaldiver said:

I think I’d be on SVR at the moment, ready to fix at any time. 

Aye.

Still on my tracker. Gone up substantially, but had the benefit of very low rates for years. Will wait a few months and see what happens to interest rates. 

Energy bills dropping next month and again in October. Should see inflation drop etc.

[L/H White]

just had to do our mortgage as 2 year deal coming to an end 

5.2% which is around an extra £230 a month 

will be getting worse before it gets any better