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About PhDinBubbles

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  1. LOL I used to share a flat with one of them and know quite a few of the lib dem councillors (admittedly mostly the younger ones) and they are all renting (with the exception of one who inherited his house).
  2. I had friends that lived in those flats in Cruddas Park – I was always pleased to get away back to my safe suburb at the end of the evening. I was speaking to a friend (a cabinet member on Newcastle City Council) a few weeks ago when he mentioned to me about how they were going to have to lend money to a developer to build a 5 star hotel because the banks simply aren’t lending. I spluttered something to him (whilst trying not to choke on my beer) about the public purse taking the risk. He got a bit flustered and kept repeating that the banks weren’t lending and then started ‘explaining’ to me that’s there’s a risk to everything. I kind of left it there as he’s a good friend and didn’t want to get embroiled in an argument. I’ve found an article below on the hotel scheme – it gets worse – they’re speculating on land around the hotel as well. “COUNCIL plans to borrow millions of pounds to lend to a developer have been criticised. Newcastle City Council bosses say redevelopment of the area behind Central Station, known as the Stephenson Quarter, could stall for a decade if they do not step in with cash. So they plan to borrow pounds 30m, lending a large slice to developer, Silverlink Holdings, which will build a 251-bed four-star hotel overlooking the River Tyne, to be run by Crowne Plaza. The rest of the money will be used to buy plots of land near the hotel site to kick-start work on buildings that will be sold on at commercial rates. Construction is set to start in March 2011, with phase one due to be completed in the late summer of 2013. The council's opposition leader Nick Forbes said: "I can't believe the council is thinking of spending millions of pounds of taxpayers' money on property deals at the same time as saying there's no money for affordable homes or for the youth service and when thousands of people are facing losing their jobs. What happened to developers taking the risk? It's disgraceful." David Slater, executive director of environment and regeneration at Newcastle City Council, said: "This is one of the key development opportunities in the city centre, therefore Newcastle needs to grasp the opportunity to move things forward, working in partnership with developers." Earlier this week we revealed the council will turn building society to provide mortgages to people struggling to get on the property ladder. It is piloting the scheme at Riverside Dene, where five of the Cruddas Park tower blocks will be demolished because no money is available for a massive refurbishment.”
  3. And this is different to the tories how????? It's Osborne's stated policy aim to keep interest rates as low as possible. The first bullet point on the tory leaflet that came through my door said, in the first sentence, that they intend to deal with the huge debt problem and then, in the second sentence, stated that they would keep interest rates low to help with peoples' mortgages. I sent an email to the prospective candidate (who thankfully hasn't a cat in hell's chance of getting in) to explain himself (i.e. why he's complaining that we're all in so much debt and then making an appeal to the debtors that he'll keep things easy for them) and I'm still waiting for a reply . They all chase the home-ownerist vote. As regards house prices, low interest rates don't have an effect on repayment mortgage affordability when wage inflation is so low anyway.
  4. Pent-up demand my @rse Go to <AHREF="http://www.home.co.uk/guides/time_on_market_report.htm?location=sheffield&all=1">http://www.home.co.uk/guides/time_on_market_report.htm?location=sheffield&all=1</A> and type in the names of different towns/cities to see how fast houses have been selling over the last three years. The average time on the market is two to three times longer than three years ago in most areas and showing no sign of getting any faster.
  5. In this Country there is a 95% probability that the wealthiest man didn't earn his wealth, therefore the tax system should redress the balance by punishing the unproductive leech - he could be a banker that made his money by lending huge sums of money to the others who had little choice but to borrow because it was the only way to pay for a scarce asset - but the greedy swine lent too much and then went bust, but then got the others to bail him out and still didn't expect to pay his way. Unfortunately, income tax is a bit blunt and will hit the small percentage of rich folk that actually who have actually contributed to the wealth of the nation. Land and banking should therefore be taxed heavily - not income. At least land is productive; banking is just a utility that can be performed by a simple computer program. The fact is that today in this Country, the real wealth producers are the ones going out to dinner and trying to pay for it with peanuts.
  6. Yep, 40% sounds about right to me. The first house to be sold in two years on my street appeared on the land registry recently - 20% below peak and 5% below asking price (after having sold stc up outside for several months). I'm not convinced the bounce has actually happened much. Normal service to be resumes shortly.
  7. Quite. Qinetiq is the arm of DERA that the americans allowed to be privatised (The UK government wanted to privatise the nasty bomb-making bits of it, but the US refused to work with them if they did). The last time I visited Malvern they were working on things like foetal heart monitors - what sociopathic monsters we have amongst us eh? LCDs were invented at Malvern, as were a host of other things. Nutters indeed.
  8. First time I've commented on this forum thing so not familiar with how this works, but.... Are you mentally ill Sibley? I'm a homeowner and am looking forward to a decent 50% crash (in line with the standard accepted theory) because ... A) I can upgrade to a larger house FOR HALF THE PRICE YOU IDIOT. I'm a patient man and don't mind waiting - and when I do buy, I'll sit there laughing at you. All those rightly pissed off potential FTBs can buy a house at a fair price. C) It'll wipe the smug grins off incompetent idiots who think they've got ruch for doing nothing. D) There's a chance the economy might recover if prices crash and I'd quite like to live in a Country with a healthy economy. E) Social cohesion and mobility will be improved as the Country moves back towards a meritocracy and away from a muppetocracy.
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