Transport, housing and desperate articles
Onwards and downwards
The UK has tax free gains for housing, has recently transferred 20-30% in real terms from savers to debtors without any government oversight i.e. the transfer has also been to foreign sterling debtors... has no way to rebalance because housing costs in the UK are higher than even the total manufacturing wages of other countries.... and some idea that reversing Brexit will make everything OK even though Brexit is a trigger not a cause. What happens now? Basically it involves amongst other stuff listening to somebody tell you how much their house went up in value....
No way out....
There was no recovery. We're still in the 2008 collapse with no way out unless there are massive debt write-downs. Reason is that debts now total $150 trillion, and the more debts grow the more they shrink the economy and the ability to pay them off because servicing them means people don't have the means to buy all the goods and services they produce. Most banks try to stay afloat, with all bad debts on their books, by lending to speculators to bet on derivatives. But look at Deutsche Bank - lending to speculators, who turn round and short that bank's shares!! "To save the banks you'd have to turn the entire Eurozone into another Greece". How much longer can they keep the plates spinning?
No doubt the landlords will pass the costs of this frivilous lawsuit on?
Stimulating the right end of the market
Britain's government will buy unsold homes built by developers using a 2 billion pound fund announced earlier this week, a move designed to get construction firms to commit to bigger projects, a trade journal reported on Thursday. With HTB ending and BTL tax changes, who knows what might happen?
RICS: We need more social parasites, especially corporate ones
BTL cheerleader RICS: We need more corporations & wealthy people renting out homes. Oh, and we should reduce stamp duty, continue to treat mortgage interest payments as tax-deductible and should offer tax breaks "to fund large scale rental properties".
As big a problem as subprime mortgages
Americans with lower credit scores are falling behind on auto payments at an alarming pace. The rate of seriously delinquent subprime car loans soared above 5% in February, according to Fitch Ratings. That's worse than during the Great Recession and the highest level since 1996. It's a surprising development given the relative health of the overall economy. Fitch blames it on a dramatic rise in loans with lax borrowing standards that have helped fuel the recent boom in auto sales. More Americans bought new cars last year than ever before and the amount of auto loans soared beyond $1 trillion.