Peak Mortgage Zombies

MoneyWeek: Are UK house prices about to crash?

All the jabbering about Brexit is clouding one fact about the UK housing market. It’s currently slowing down. I suspect it’s less to do with Brexit or buy-to-let, and more to do with the fact that house prices in the UK are wildly expensive. House prices are too damn high compared to wages.

Posted by debtserf @ 11:44 PM 0 Comments

Peak rental supply

Express: Signs of ANOTHER housing crash: London rent prices drop hitting landlords

RENTS in London fell in April taking landlord returns to almost the lowest level in the country, in yet another sign the market could be heading for a shock crash.

Posted by debtserf @ 12:33 AM 1 Comments

Monday, May 30, 2016

Martin Armstrong exposes rampant BREXIT propaganda

Armstrong Economics: Open Letter to the Guardian

Despite the propaganda, Britain's economic growth peaked prior to joining the Common Market and has fallen ever since. Is it a co-oincident that our major heavy industries collapsed after that date, leading to the winter of discontent, 3 day weeks? Our heavy industry, fishing, mining, etc. continues to be gutted, and our service industry takes in in-spite of rather due to the EU, who would strip mine it to resolve problems in Greece, France, Eastern Europe, etc. before they would give us a hand. Next to go is the NHS and our welfare system. That is the horrible truth.

Posted by libertas @ 11:00 AM 2 Comments

Sunday, May 29, 2016

Peak Peakyness

Guardian: House prices compared with earnings 'close to pre-financial crisis levels'

this cheap borrowing had been the biggest driver for demand for homes. “Since 2013, the demand for housing has been turbocharged by chancellor [George] Osborne’s help-to-buy policy and the search for yield – which has resulted in the accumulation of housing wealth as an investment alternative for low-yielding financial assets,” it said. “As a consequence, house prices are now close to an all-time high of more than six times disposable income.” The firm said couples buying together were increasingly taking on large loans relative to their income. Before the crisis fewer than 30% of joint mortgages were taken at more than 2.75 times income , but now that proportion has risen to more than a third.

Posted by debtserf @ 01:23 AM 3 Comments

Saturday, May 28, 2016

The peace and quiet of contemlation during Purdah

Independent: What is Purdah, and how will it change the EU referendum debate?

Starting on Friday, Purdah will prevented civil servants from helping the Government's referendum campaign. The incessant slew of panicked briefing papers telling us the sky would fall and why toddler Britain couldn't survive on its two feet should come to an end. In light of all that propaganda barely lifting BREMAIN above 50%, we could see BREXIT soar and take over during the next month, as Cameron looses his paid thugs in Whitehall. Final question is whether postal vote fraud will see ballot boxes stuffed like in Austria.

Posted by libertas @ 09:00 AM 4 Comments

Friday, May 27, 2016

Bank of mum and dad not enough

BBC News: A million more youngsters to live with parents, says Aviva

More young couples are choosing to live with their parents these days because they can't afford to buy or rent. But apparently there are some positives - such as being able to eat and go on holiday, as well having a bit of company around the house.

Posted by cyril @ 08:05 AM 5 Comments

Thursday, May 26, 2016

Why we need property taxes

Torygraph: Take a look inside the 'forgotten' £3m mansion in London's East End

"This is the incredible staircase of a £3m '"forgotten" Georgian mansion which has gone on the market in the heart of London's East End. Built between July 1741 and October 1742, the spooky four-storey Malplaquet House has not been lived in since 1895 but has been restored by its current owners." On top of it, squatting has been criminalised now. This could have provided housing for lots of people for 120 years and the owner would still have made out like a bandit even if they burnt it to the ground.

Posted by mombers @ 02:28 PM 0 Comments

Wednesday, May 25, 2016

Game Over

Guardian: Property market is going to implode as housing nears peak affordability

Property prices in Britain may be surging due to a horrendous imbalance of supply and demand — but the market is poised to implode. Why? Because Britons are not earning enough money to either get on the housing ladder or are spending such a large portion of their wages on mortgages that may not be sustainable.

Posted by debtserf @ 09:03 PM 8 Comments

Sunday, May 22, 2016

"This is the most important voting decision any of us will make in our lifetime"

Youtube: BREXIT The Movie

In this film, we see beyond facile arguments about house prices towards the real issues behind BREXIT. You can see very fast that regardless of the propaganda, BREXIT in the long run will result in more democracy, prosperity and resolution of issues such as the housing crisis.

Posted by libertas @ 02:40 PM 19 Comments

Saturday, May 21, 2016

Desperate times call for desperate measures

The Guardian: House prices face 18% hit if Britain quits EU, says George Osborne

Ok I can believe that World War 3 will break out if we leave the EU but this latest prediction really takes the biscuit

Posted by cyril @ 08:37 AM 9 Comments

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