Errr....Rates were going lower anyway..

Telegraph: Interest rates could stay low permanently, says BoE deputy governor

QE just helped rates go lower more quickly says Broadbent. On the surface, the BoE can't make it's blinking mind up. However, I would suggest the real reason is because the Fed sets the rates (that's right - NOT the market). It's an era of financial repression. Box in the sheep, grab their legs, cut their wool off...Simples!

Posted by alan @ 06:18 PM 6 Comments

London cooling off

Auntie: Foxtons shares tumble 15% on house price warning

Shares in Foxtons plunged 15% after the estate agent warned that the London's property market was cooling. The company, whose 50 branches operate mainly in the capital, reported a "sharp and recent slowing of volumes" in London sales.

Posted by mountain goat @ 05:02 PM 1 Comments

According to Paragon more than 18% of households are currently paying rent to BTL parasites.

Torygraph: Buy-to-let boom: one in five homes now owned by landlords

"The Government's own figures suggest that by 2032, more than one in three properties will be owned by private landlords."

Posted by landofconfusion @ 04:28 PM 3 Comments

The have a right to oppose new development but not a responsibility to limit their own consumption

Torygraph: Move out of your big homes and help society, minister tells over-55s

“It should not be the role of Government or anyone else to dictate to people what kind of house or living accommodation is best for them – it should be up to them to choose.” Well, let's get rid of all planning permission, building regulations, etc.

Posted by mombers @ 09:34 AM 9 Comments

What about their mortgages?

Telegraph: Marvelous UK recovery continues

Taxpayer-backed lender to reduce its workforce by a tenth and announce branch closures

Posted by hpwatcher @ 09:16 AM 4 Comments

National UK ponzi scheme needs another boost

Telegraph: Foxtons hit by 'sharp slowdown' in London housing market

Estate agent says activity in the UK's capital over the second half of 2014 will be "significantly below" levels in the same period a year ago.

Posted by hpwatcher @ 09:12 AM 0 Comments

Wednesday, Oct 22, 2014

Another classic Keiser episode with Mitch Feierstein

MaxKeiser: [KR669] Keiser Report – Apocalypse Now

We discuss the horror, the horror of the apocalyptic scenes that central bankers have wrought upon the innocent and the deranged alike. This apocalyptic aftermath of meeting the Colonel Kurtz like central bankers is an economy in which the under-30s are left behind and the pauperization of workers through inflation. In the second half, Max interviews Mitch Feierstein of about how democracy has been vaporised in the UK and the result is the falling wages which have led to protests in the streets of London.

Posted by khards @ 08:08 PM 0 Comments

Naughty, Naughty here's a £10 fine

Telegraph: The £100,000 mortgage that cost £250,000 - equity release complaints rise

Those turning to equity release risk paying added interest and early repayment charges that can in some circumstances quadruple the value of the original loan and cost borrowers up to £200,000 extra. As a result the number of disputes between mortgage companies and borrowers has increased. Almost half of equity release borrowers do so to meet "everyday costs", according to the industry body, the Equity Release Council. Other causes include funding home improvements and helping grandchildren with a property deposit. One elderly customer had to pay £250,000 to clear a £100,000 mortgage taken out just eight years earlier after downsizing following her husband's death. What was worse, only half of the £100,000 borrowed had been spent.

Posted by khards @ 06:01 PM 0 Comments

Fetch the engines, fetch the engines. Fire fire, Fire Fire!

CNBC: Luxury London property prices fall 20%

The price of luxury homes in prime central London locations has fallen by over 20 percent, according to a national estate agent, signaling that a correction in the capital's booming housing market could be afoot. Properties in the £2 to £5 million price bracket saw prices fall 27.1 percent in the same period. Homes worth over £5 million performed slightly better but still saw a decline of 15.2 percent. As the U.K. heads into an election year in 2015, the uncertainty over the country's political future could deter buyers further.

Posted by khards @ 11:09 AM 7 Comments

London's burning, London's burning...

PropertyIndustryEye: London market showing further signs of falls as sales collapse 27%

The prime central London market is showing further signs of decline, says Strutt & Parker. Its data for the third quarter of 2014 shows that both prices and transactions have slipped year on year. The overall value of properties transacted by the firm is down 21.1%. Properties sub-£2m saw a decrease of 20.8% while £2m-£5m homes went down by 27.1%. £5m-plus homes performed slightly better, but still saw a decline of 15.2%. A similar pattern emerged in terms of volume sales, which were down 26.8% overall, with all price bands seeing a reduction in the number of transactions.

Posted by khards @ 11:01 AM 0 Comments

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