All going to plan
Also this week, the National Housing Federation produced research showing that two in three first-time buyers now got help from their parents, up from one in three five years ago. Of todayâs children, it predicted that only those from the âwealthiest families will be able to buy a homeâ. It also poured cold water on any claims by todayâs older generation that buying a house was as difficult when they were young. The ratio between property prices and wages has shifted so enormously that house buying today is as difficult for buyers with two wages as it was 35 years ago for a single borrower on just their own income.
Could Property-Price Pumping become illegal?
What these women did was clearly wrong: they were using misleading promises and an unsustainable financial model to make thousands of pounds. Victims lost money (although many victims were looking to get rich quick, so sympathy might be limited). Of course, this is a world away from the property market, where banks and mortgage companies use misleading promises and an unsustainable financial model to make billions. Unlike a real ponzi scheme, the property boom depends on ever-increasing amounts of money, invested to make gains, and sustainable as long as ever-increasing amounts of money keep coming in. Oh, hang on a minute.... But seriously, is there a way the new anti-ponzi/pyramid scheme laws could be brought against part of the property cabal?
Scottish Independence Referendum - Possible Effects on Commercial Property
MoneyWeek article on current slow-down
Does this tell us that the Euro ix doomed?
As noted previously, BOE cannot raise rates whilst German rates are raging towards negative. Do these bond rates suggest that the Eurozone is collapsing? Investors betting on German Exit? If the Euro does collapse and Scotland votes No, where does Ireland turn for support? Britain paid Â£7bn towards the last Irish bailout, ECB will be too busy this time around, if it still exists. I feel that 18th September, if Scotland votes no, will be the low water mark for the UK. With even most N.Irish Catholics pro Union now, we could well see EIRE return to the fold, under a very new form of Union, a Federal United Kingdom, where Westminster acts much in the way of Washington, managing currency, defence, international treaties and various other services if and when the States need or request it.
UK inflation rate down to 1.5%
World depression deepens, but cheap cash continues to flood into UK housing
Six regions of the UK now have average house prices higher than their pre-financial crisis peak after values rose again in July, figures show. The East Midlands, West Midlands and South West of England have joined London, the East of England and the South East of England in rising above the peak of late 2007 and early 2008. The Office for National Statistics (ONS) said UK property prices were up 11.7% in the year to the end of July.
BBC's latest answer to a UK housing shortgage
"Imagine opening the curtains in the morning and instead of grey skies and rain, looking out at a rust-coloured rocky panorama" The year is 2045. You have woken up on Mars. Colonising Mars could happen sooner than you think. Elon Musk plans to build a city there. Nasa wants to send people by 2035. Then there's the Mars One mission, Big Brother for the slightly suicidal.
Permanent asset & currency devaluation relative to rUK will occur
Scotland Herald Tribune: This Scottish paper suggests the falls are short term. Reality is that Scotland needs permanent deva
This Scottish paper suggests the falls are short term. Reality is that Scotland needs permanent devaluation in all assets and currency if it is to go it alone, just as should have been the case in Greece. "Yes vote could see a sharp fall in the average house price in Scotland in the "short-term", property pricing website Zoopla has suggested. Scottish independence could lead to another UK housing market crash that wipes Â£31,000 off the average house price in Scotland, causing as big a crash as the 17.5% fall seen during 2008, leading property website Zoopla has warned."
Zoopla predicts repeat of 2008 17.5% crash if Scots go solo
Scottish independence could lead to another UK housing market crash that wipes Â£31,000 off the average house price in Scotland, causing as big a crash as the 17.5% fall seen during 2008, leading property website Zoopla has warned. Having mortgages issued in a foreign country, potentially in a foreign currency, with huge currency risks, could combine with reduced competition and higher costs combined with the lack of Bank of England lender of last resort facilities to create a perfect storm. Clearly, a housing and construction slowdown could cause havoc with tax receipts, damaging Salmond's ability to fund his promises.