Be afraid...

Telegraph: Half of homeowners fear interest rate rise

More than half of British home owners with a mortgage are concerned about the impact on their finances of a rise in interest rates and expect to pay an extra £590 a year in repayments.

Posted by nocibomber @ 09:48 AM 5 Comments

But I'm sure it will be OK as average earnings will be £500,000 pa

Daily Mail: Child born today will pay £3.4million for their first home if house prices continue to increase at their current rate of 8.6% a year

Inevitable conclusion (apparently) is 8.4% pa growth forever.......

Posted by pokercola @ 07:59 AM 5 Comments

Sunday, Aug 24, 2014

UK's love of Henry Hoover to lead our ejection from the EU

UKIP.org: EU VACUUM BAN A BLOW FOR HOUSE-PROUD BRITS

Our vacuum cleaner is 1800 watts. No doubt, just as with incandescent bulbs, there will be industry exemptions. What about industrial uses and hospitals that require high wattage vacuum cleaners? The 900 watt limit for 2018 will ban even Henry vacuum cleaners. Maybe that will be the last straw that moves us from the EU?! Though our leaders are hoping that a balkanised UK following Scottish "independence", followed by Welsh 'independence" followed by Northern Ireland finding its own way will make us incapable of independence, being lackeys of Brussels for ever more. Hitler could not have dreamed of a better way for German dominance over the Fourth Reich.

Posted by libertas @ 10:36 AM 13 Comments

Friday, Aug 22, 2014

Boost for private landlords

Guardian: Leap in right-to-buy sales of council houses sparks call for reform

2,845 council houses were sold to tenants between April and June, a 31% increase on last year. 33% of these sales were in London, where discounts can go over £100k. Since the proceeds of these sales go towards building replacements such discounts leave less for that purpose. "A lot of council houses today will be in the hands of private landlords tomorrow. Fewer low-rent houses will drive low-paid people out of London" said a Green Party member of the London Assembly.

Posted by icarus @ 08:15 PM 2 Comments

Are the dominoes about to fall ?

FE Trustnet: I’m so bearish I’ve sold my house, says Cantor’s Tan

The analyst at Cantor Fitzgerald says that the global economy faces a downturn similar to 2008, and wants as little exposure as possible to risk assets as a result.China’s already overheated property market is on verge of collapse, according to Cantor Fitzgerald’s Charles Tan, who has sold his central London home and moved all his money back to Singapore in preparation for the severe repercussions on the global and UK economy.

Posted by jack c @ 10:12 AM 13 Comments

Thursday, Aug 21, 2014

What a world!

TeleSUR: On the edge of another global recession

Roundup of the world economy. EU weakness is now concentrated in its core economies - Germany's export-driven economy, France and Italy. The usual problems - unemployment, falling wages, drying up of business investment, banks hoarding money or directing liquidity into financial assets globally - are exacerbated by sanctions against Russia and the need for bailouts for Ukraine. The usual problems are even worse in Japan. The US, which dropped the EU in it regarding Russia/Ukraine, can compensate for weak fundamentals by the dollar's hegemonic status, which enables it to get capital to flow back into the US when needed, and by military spending. China at least kept its fiscal and monetary injections at home so performs better, but global speculators are undermining its financial markets..

Posted by icarus @ 07:29 PM 3 Comments

''We in the UK have been living beyond our means for a very long time''

Mail: Osborne pockets £1bn in stamp duty bonanza as house prices soar... but Government borrowing still rises by £10bn

Between April and July stamp duty receipts soared by 25%, figures reveal But public borrowing continues to rise - up £9.4bn from 2013 to £32.4bn

Posted by hpwatcher @ 04:47 PM 4 Comments

The clue to the bubble is in the ownership

Financial Times: London among Europe’s least ‘liveable’ cities, according to index

London has become a haven for money from around the world, with at least £122bn of UK property now held by offshore companies. [...] Despite this huge demand from international buyers, London is a less attractive place to live than Detroit or Reykjavik, the EIU researchers found.

Posted by sneaker @ 08:57 AM 6 Comments

So if it's not liveability attracting people, it has to be tax or (ahem)

RT (aka Russia Today: Worse than Detroit? London one of least livable European cities

London's real estate prices keep soaring and foreign cash keeps pouring in, yet the world's most influential city has become one of the least appealing places to live in Europe, according to new figures. Despite this huge demand from international buyers, London is a less attractive place to live than Detroit, Cleveland, Manchester or Reykjavik, the Economist Intelligence Unit's latest livability ranking has found. This is despite a recent Forbes list of "The World's Most Influential Cities 2014" which ranked London as the most influential city in the world, because it attracts more than double the amount of foreign direct investment deals than New York, which came in second.

Posted by sneaker @ 07:34 AM 3 Comments

Wednesday, Aug 20, 2014

Wage Price Crash

Independent: Income for self-employed crashes 22%

The number of people who are self-employed has increased by over 730,000 in the past six years, but average income has slumped by 22 per cent, a new study has revealed. Around 4.6 million people now work for themselves, more than at any time in the past 40 years, according to the Office for National Statistics.

Posted by khards @ 08:05 PM 11 Comments

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