Squeeze those evil property tycoons

BBC: Autumn Statement: Buy-to-let homes face higher stamp duty

I think they had got the air quotes in the wrong place. Maybe it should read. Priced out tenants reacted jubilently to the change, saying it would choke off "investment" in rented properties. After all most of the "investment" comes from their savings deposits in the banks and building societies.

Posted by tenyearstogetmymoneyback @ 08:27 PM 0 Comments

A welcome change in policy

BBC News: Spending Review: George Osborne to pledge housing cash amid cuts

George Osborne is to set out government spending plans up to 2020 later, which will include billions of pounds in cuts but also new money for housebuilding. The Autumn Statement and Spending Review will detail £20bn of cuts to Whitehall budgets and £12bn to welfare. But the chancellor will pledge almost £7bn to make housebuilding a priority, with more than 400,000 "affordable homes" to be built in England.

Posted by quiet guy @ 08:14 AM 2 Comments

Monday, Nov 23, 2015

Interest-only a ticking debt timebomb

Business Insider: We'll all pay for the huge mistakes we're making in the UK housing market

>> "The Citizens Advice Bureau warned that 934,000 UK home owners have no plan for payong off the principal on their interest only mortgage. Britain could encounter the first round of these problem owners in 2017." Interest-only loans fuelled the 80s housing bubble, allowing borrowers to bid up prices more an the high interest rates would otherwise have allowed. While most of these price excesses were cleansed by 1996, the underlying debt is still out there, waiting to catch up with generation debt, most of whom are approaching retirement. Should be interesting. Maybe lenders will extend their loan terms?

Posted by debtserf @ 09:14 PM 6 Comments

The pigs start to squeal!

This is money: Hopes rise that top rate of stamp duty may be cut as sales of upmarket homes collapse

Tax experts believe the Chancellor has the chance to take action to cut the top rate of stamp duty this week citing a fall in tax revenues as sales of upmarket homes collapse.

Posted by hpwatcher @ 09:47 AM 12 Comments

Sunday, Nov 22, 2015

Tory think-tank wants to shut stable door after horse is long gone

Guardian: Is it time to close the door to foreign buyers of British property?

It is a dramatic repudiation of decades of thinking in the Conservative party. These are the people who have, until now, equated rising house prices with wealth and prosperity, and who have profited enormously from buy-to-let and billions in foreign cash. But the Bow Group now recognises that Britain’s housing market is broken – and its prescription for reform may stagger traditional Tory supporters.

Posted by debtserf @ 08:16 AM 8 Comments

Saturday, Nov 21, 2015

From the horses mouth

Daily mail: Nationwide boss says London prices could slam into reverse

Straight talk from a leading lender....this bubble is now so huge that when it bursts all hell will break loose. Don't forget London has over 25% of mortgage money held there add south east and I suspect near 50% of All mortgage money is held in a monster property bubble...and nationwide and other banks have been lending into it.

Posted by taffee @ 05:48 AM 0 Comments

Friday, Nov 20, 2015

Mortgage manipulation

Notayesmanseconomics's Blog: Can macroprudential policy control house prices?

Shaun Richards discusses the overall effect of MMR and the Funding for Lending Scheme. It's hard to see any sense or purpose in simultaneously trying to cool the mortgage market by MMR while at the same time, the "Bank of England still has its foot on the mortgage market pedal via the Funding for Lending Scheme." In the closing paragraph, Richards asserts that the UK financial regulators haven't really tried to control the mortgage market at all.

Posted by quiet guy @ 11:47 AM 0 Comments

Tuesday, Nov 17, 2015

What will this growing, powerful voting block be offered?

Torygraph: Generation no hopers: just a quarter of people in their 20s and 30s will own a home by 2025

Really scary, so much demand is going to be sucked out of the economy as more and more people are subject to ever increasing rents that bear no relation to the cost of production of housing

Posted by mombers @ 10:30 AM 18 Comments

Friday, Nov 13, 2015

Then like my dreams they fade and die...

Bloomberg: London home Bubble May Have Burst

Now, “36 percent of all properties currently on the market across prime central London are being marketed at a lower price than they were originally listed at, with the average reduction in price being 8.5 percent.” A good start, and plenty further to fall in the big smoke?

Posted by debtserf @ 09:38 AM 24 Comments

Chinese capital controls put pressure on London Housing

Zerohedge: Another Bubble Bursts: Ultra Luxury London Home Prices Tumble 12%

''...in the aftermath of Beijing's crack down on capital controls following its August currency devaluation, that "new Chinese 'regulations' may just kill Australia's golden goose of 'weath creation' as Aussie's largest trade partner sees its economy collapse."

Posted by hpwatcher @ 08:51 AM 1 Comments

Main Blog | Archive | Add Article | Blog Policies