And so it begins

UK Investing: UK 1yr Gilt rates

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.

Posted by libertas @ 11:13 PM 0 Comments

Anothe brcik removed in the housing ponzi scheme

Daily Telegraph: Philip Hammond anounces end of Help to buy

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

Posted by britishblue @ 12:57 PM 2 Comments

Wednesday, Sep 28, 2016

Record numbers left homeless

Guardian: Record numbers left homeless after eviction by private landlords in England

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 – a number that was up 10% on the same period last year.

Posted by tom101 @ 06:48 PM 4 Comments

Thanks for nothing...

Telegraph: QE is here forever, says Bank of England deputy governor

''Interest rates are likely to stay relatively low permanently, she said''

Posted by hpwatcher @ 02:15 PM 5 Comments

Monday, Sep 26, 2016

London attraction fading

Guardian: Rising London house prices spark departure of thirtysomethings

The number of thirtysomethings leaving London has leapt in recent years as high housing costs have forced people to move out of the capital, according to campaigners.

Posted by tom101 @ 10:30 PM 5 Comments

Chomsky heart attack

Telegrapch: World-leaders-cannot-match-market-forces-for-power/

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.

Posted by stillthinking @ 01:54 AM 2 Comments

Saturday, Sep 24, 2016

A complex market

Telegraph: Safe as houses? Not in this fast, volatile market

"Property owners have also developed a hyper-sensitivity to the socio-political climate. It’s 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."

Posted by tom101 @ 06:43 PM 0 Comments

Friday, Sep 23, 2016

Buyer enquiries and sales instructions continue to slip

RICS: Expectations continue to recover

To counter the puff pieces regularly posted here ... like the two below ... a small increase in prices according to the latest (Aug) RICS survey on the back of very low and falling volumes of sales.

Posted by nickb @ 09:17 AM 0 Comments

Thursday, Sep 22, 2016

Housing market picking up again....

Telegraph: Housing market picks up speed in August - as Help to Buy scheme fades

Mortgage lending climbed sharply in August, reversing the post-referendum fall in July and taking the market to its highest summer level since 2007.

Posted by tom101 @ 01:26 PM 4 Comments

Tuesday, Sep 20, 2016

Falling mortgage rates - No better time to buy....

Telegraph: Home buyers set to enjoy mortgage rates below 1pc

Interest rates on typical mortgages could fall below 1pc in the coming months in an unprecedented boost for home buyers, according to analysts at Bernstein Research.

Posted by tom101 @ 03:55 PM 13 Comments

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