The unlucky generation? Certainly with respect to wealth
And so it begins
With German banks on the rocks, there is now a dollar shortage and you can see capital flowing into Sterling with rates on 1yr bonds crashing to 0.084% and 2yr bonds down to 0.068%. They are clearly about to plunge into negative territory noting that a lot of money will flow in the property funds that recently shook off weaker hands with the Brexit vote. And so after Brexit, the panic about Britain has morphed into Britain being a safe haven. It will become very clear, very soon, that it is the EU that is broken, since when Germany is screwed up, nobody can assist the periphery and we are one disaster away from the fall of the European velvet curtain.
Anothe brcik removed in the housing ponzi scheme
One by one the props that make the UK the second most overvalued housing market in the world are coming to an end. This year we have now had a massive amount of benefits taken away from Buy to let Landlords and now Help to Buy is going from another area of the housing market. Not quite a free market yet but a step in the right direction
Record numbers left homeless
Record numbers of families are becoming homeless after being evicted by private landlords and finding themselves unable to afford a suitable alternative place to live, government figures show. The end of an assured shorthold tenancy (AST) was cited by nearly a third of the 15,170 households in England who were classed as homeless in the three months to June â a number that was up 10% on the same period last year.
Thanks for nothing...
London attraction fading
Chomsky heart attack
Repeated so often that it seems true, is the mantra that lower sterling helps exports, even though the manufacturers in the UK are free to set their own prices... I looked at gbp yen today and its 130, i have never seen it so low, and I just wonder what is the point of transferring all the purchasing power for uk assets to foreign currency holders abroad? how can it possibly help? the UK from previous (and ongoing) asset sales now has a persistent current account deficit but the boe keeps on going..and they will -keep on- going until they are forced to respond to a wage spiral but because their cr*ppy policies don't work we won't get one. i have given up on sterling its the most useless currency in the world.
A complex market
"Property owners have also developed a hyper-sensitivity to the socio-political climate. Itâs a dangerous mindset in a market powered by shifts in sentiment rather than economic reality. Article 50 has not been activated to exit the European Union and yet housing chains started to collapse in the aftermath of the vote."