Friday, Jan 13, 2017

... you'd better shake up...

Evening Standard: London house prices: Demand for stamp-duty shake-up to boost central London market

Bemoaning the SDLT from the VI gang on the basis that it hits workers :
One of London Chamber’s primary concerns is that ordinary Londoners can afford to live and work in the capital, helping businesses attract and retain the best talent. 
In the words of Ace Ventura.... oh reaaaallllyyy?

Posted by techieman @ 07:38 AM (12028 views) Add Comment

8 Comments

1. jack c said...

What is an "ordinary Londoner" these days?

Friday, January 13, 2017 09:58AM Report Comment
 

2. mombers said...

When confronted with Labour and Lib Dem proposals to make everyone pay tax for the most desirable housing, i.e. higher annual property taxes, Tories had to do something. So they said you only pay tax if you BUY one. And surprise surprise, dramatically fewer people are doing so. Slipped in their own turd rather predictably

Friday, January 13, 2017 12:58PM Report Comment
 

3. wdbeast said...

Hi mombers - "When confronted with Labour and Lib Dem proposals to make everyone pay tax for the most desirable housing, i.e. higher annual property taxes"
Confused by this, could you expand, thanks

Friday, January 13, 2017 04:35PM Report Comment
 

4. mombers said...

@3 Labour and the Lib Dems were keen on a mansion tax - effectively taxing the value of a home over £2m at quite a modest rate (lower than the old domestic rates abolished and replaced by the Poll Tax and then council tax). At the moment council tax is effectively 0% on the value over £1m (approx adjusted value of Band H). There were the familiar outcries of poor widows in mansions etc but the Tories had to be seen to do something about the ridiculously skewed distribution of land ownership. Something was much higher purchase taxes. Unlike annual taxes, these are easily avoidable by not buying or selling, and provide no incentive for people to consume housing efficiently.

Tuesday, January 17, 2017 12:51PM Report Comment
 

5. hpwatcher said...

I've just read quite an interesting report, relating to the US, and his forecast is rather black. Expect a surge in asset prices, together with severe devaluation.....not good news I'd say!

Wednesday, January 18, 2017 08:52AM Report Comment
 

6. techieman said...

Wanna post the link hpw ?

Wednesday, January 18, 2017 11:56AM Report Comment
 

7. hpwatcher said...

Article here:-

The impact of the Fed's extended period of zero interest rate policy was the creation of illusory gains. However, many analysts expect a market correction to an outright market collapse while the technicians and bulls out there expect the bullish activity has much farther to run and attribute this to positive economic activity.
As for me, I believe we are in deep trouble and the market is now a matter of national security...the federal funds rates will surely be pushed into negative territory and asset prices rise unbelievably.

For those thinking this is a "free market", the further gains in the equity market will be shocking. Detailed domestically HERE and globally HERE. The absolute disconnect of asset prices from economic activity is and will continue to be unlike anything we have seen. This is no more of a "free market" than shooting a cow in a pasture is "hunting".


Why The Stock Market Has Blasted Into Outerspace...and Will Likely Orbit the Moon

Thursday, January 19, 2017 03:38PM Report Comment
 

8. icarus said...

article @7 - In the shorter term it's very likely that there'll be a big correction early in the Big Orange's presidency. The corporation tax cuts he announced after he won the election (BIG cuts plus a near tax holiday on repatriated profits) sent the Dow Jones from 18,300 to 20,000 (now 19,770) in six weeks. Regarding the stock buybacks highlighted in the article much (75% according to some analysts) of those repatriated profits will go into exactly that.

Investors acted as though Big Orange could issue an executive order for a $1 trillion fiscal stimulus. But what about Congress and the Fed? Yellen has indicated that any sudden growth burst and an accompanying rise in inflation will trigger rate rise(s) that will offset the fiscal adrenaline. And Congress is dead set against any increase in the Federal debt, especially such a fiscal stimulus - since the last trillion-dollar stimulus eight years ago didn't achieve a lot. (btw Trump's infrastructure-building scheme is just a private-equity giveaway - public risk, private profit, and with the money concentrated on revenue-producing schemes rather than leaking school roofs or pesky potholes.)

Thursday, January 19, 2017 05:45PM Report Comment
 

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