The Wilsons failed to comply with a court order requiring them to fix a disabled tenant's boiler. Judith must now reveal her financial situation so that the court can impose a (potentially unlimited) fine. It is so Judge Barron can get a better picture of her wealth before sentencing – including assets, banked money and joint accounts. The ruling will “accelerate the rate” tenants are evicted as the couple look to sell up their housing empire, Mr Wilson said. "It means we will be selling more properties," he said. "We were selling up anyway because of our age - I could drop dead tomorrow. “We won’t put all the homes on the market at once because that would mean house prices will drop.”

Posted by little professor @ 03:06 PM 7 Comments

For all the talk of a correction, you have to wonder if Stockman is right and there is a "doozy" of a yield shock on the way that is going to push rates up to 5%, inevitably the UK would have to follow to some extent. Carney seems to be boiling the frog devaluing the pound but can he ignore? Certainly interesting times particularly if you have been convinced it all ends in tears for a decade....Deutsche bank on the brink, Italian government IOUs seem to be the Italian banks entire capital base, foreign holdings of US treasuries going down. Do we find, in the end, that the banks have once more lost the lot.

Posted by stillthinking @ 02:37 AM 9 Comments

Claims that in London prices are up 3.9% year on year. but this is driven by a handful of sales in the City. The median london borough is down 2.2% year on year, as they well know. They even publish a median series that you have to pay for. nonetheless, in their (average i.e. mean) time series the southeast is down -0.1% year on year.

I had been wondering what the figures are for a long time. It gives an idea of the cost of building a house once land has been obtained and planning permission given. Of course the rebuilding cost wouldn't include things like building a road in front of the house but might have extras like clearing the site.

"Warnings by landlords that taxes on buy-to-let would cripple the property market, driving down supply and pushing up rents, have turned out to be entirely hollow, according to research by campaign group Generation Rent." So satisfying to be proved right. Although of course the long threatened rent rises are always around the corner though! Hopefully this evidence will be noticed by TBTP and recurring taxes on property (second best to land only) can be considered as first choice for rasing much needed revenue

The slicing and dicing of housing is redefining the idea of home. Those forced to live in ever smaller spaces describe how this changes their lives

I always predicted that the slump (crash is what happens in more liquid markets) will happen when everyone has dismissed the possibility.