UK government sold citizens down the river
At least Â£122bn of property in England and Wales is held through companies in offshore tax havens where ownership is difficult to trace, a Financial Times analysis of Land Registry data has found. The figure â more than the total value of all housing stock in Westminster and the City of London â reveals for the first time the scale of offshore property ownership in the UK. It raises concern that London property in particular has become a haven for dirty money from around the world.
Ã cause de Hollande
When the going gets tough......the regulator caves in
Financial advisers at banks will no longer be approved by the Financial Conduct Authority (FCA) but by their employers on an annual basis under the regulator's proposals.................This would include consumer-facing roles including retail investment advisers and mortgage advisers, it said. Comments section say's it all !
UK Government sold their citizens down the river over housing
While such actions may seem contradictory to the citiesâ stated free-market principles, âaffordable housing is part of the legitimacy of any government, and government has a role to play in intervening in the market in periods where there are extreme circumstances,â said Michael Klibaner, who heads Greater China research at real estate firm Jones Lang LaSalle Inc. in Hong Kong.
Maybe should have stopped pumping it up!
Interest not rising
Only raise IR if house prices keep going up? And oh look, house prices are allegedly dropping :- http://www.theguardian.com/money/2014/jul/28/average-house-prices-stall-1m-plus-properties-england-wales So that's OK then? I swear the game is rigged more than a LIBOR call.
The next leg down begins
The IMF has warned that the pound is overvalued by 5pc-10p, in an update of its wide-ranging annual assessment of Britain's economy. After depreciating by 23pc between 2007 and 2009, the real exchange rate has gradually appreciated, and this trend accelerated from the middle of 2013, the fund said, as it praised the Bank of England for keeping interest rates low and welcomed signs that Britain's surprisingly strong economic recovery is broadening. "Wages are growing very slowly and, although output is beginning to pick up, the recovery is still at an early stage and there is still a lot of slack in the economy,"
You may not want to bring this up at any London dinner parties, but there are tentative signs that the bubble in U.K. housing prices that's helped boost the economic recovery by underpinning consumer confidence may be running out of puff. Given the British obsession with home ownership, any evidence of real-estate deflation will complicate the Bank of England's efforts to nudge borrowing costs higher.
HPC started 2 months back
The Problem With Getting On The Property Ladder
After the property market crashed during the 2008 recession, homeowners have been allowed a sigh of relief recently as things appear to be on the up again; but what about first time buyers? A combination of rising house prices and lacklustre savings rates has meant many of those wanting to get their foot on the property ladder have got to make some sacrifices.