London , New York , Paris, MUNICH....everybody talk about "POP"....

Posted by techieman @ 09:43 PM 6 Comments

Article looks at side earnings of MEPs and finds that the largest are accruing to Brexit party and the Italian far right League party MEPs. Of particular concern to readers of this website is Benyamin Habib who receives around E80,000 per month from a "property fund" and sits on the committee on economic and monetary affairs, tasked to legislate on a whole range of policies. Surely nothing improper there?

The median price paid for residential properties fell by 40.2 per cent in the year ending March 2019, according to the Office for National Statistics. A report published by the ONS shows that this figure has been steadily increasing since 2017, when it was 29 per cent, before it rose to 36 per cent in 2018. Looking at property type, flats and maisonettes fell in value by the largest amount, averaging a decline of 10.3 per cent on the previous year. In London, the housing market value fell by 9.5 per cent, which represents the largest decline in all regions in England and Wales, the data shows.

Snippets from the article 1) The FTSE 250 firm allows people with poor credit ratings to borrow by using a guarantor 2) Today Amigo, under new boss Hamish Patton, said its impairment rates are growing and its loan book isn’t Does it not sound like the same as 2008 crises? You can give money away for people to buy houses, holidays, cars etc. The problem comes when they can't pay you back. Looking at the signs, around the world, it feels like to coming to a head again.

I found this very interesting. The one thing they don't take into account is the prices of things to go in the house. In 1988 buyer a new TV was a big deal for me and when I got one in 1989 after changing jobs and moving house I paid £440 for a 25" Toshiba. An older colleague once told me how in the 1960s he paid 10% of the price of his house on an automatic washing machine.

Small investors who sank millions of pounds into the TV property guru Kevin McCloud’s eco-friendly housing ventures have been told they could face losing up to 97% of their money.

But Mulheirn disagrees. He points to official data showing that since the 1996 nadir of house prices, the English housing stock has grown by 168,000 units per year on average, while growth in the number of households has averaged 147,000 per year. Even in London and the South East, the number of houses has grown faster than the household count. As a result, while there were 660,000 more dwellings than households in England in 1996, this 'surplus' has since grown to over 1.1 million by 2018. Similar trends are also apparent in Scotland and Wales, suggested Mulheirn.