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BlackSwan

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About BlackSwan

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  1. The money to fund this whole pile also comes from the BoE. It has been buying up bonds as part of QE that have been created to finance this shambles.
  2. We can make written submissions. This is a good opportunity to get our points across as the listed questions cover the essential pillars of our argument. Get writing or we can do it as a coordinated set if submissions.
  3. The same in my area, Hale/Altrincham in South Manchester. The prices have exploded in the last 18m by about 25% and supply is very tight. However, friends I know can't afford to move up due to the cost of the extra bedroom etc. There is currently a boom in cellar conversions and extension round here - a sure sign that the steps on the ladder are too large. Exactly the same thing happened when I lived in Finchley in London between 2006 & 2007. The basic truth of all of this nonsense is that once the bottom rung becomes too expensive (same in 2007), the steps on the ladder become too large (same in 2007) and prices are far outstripping salaries (same in 2007) then something has to give. You can't have prices doubling in a few years when salaries and the cost of borrowing don't change.
  4. The same in my area, Hale/Altrincham in South Manchester. The prices have exploded in the last 18m by about 25% and supply is very tight. However, friends I know can't afford to move up due to the cost of the extra bedroom etc. There is currently a boom in cellar conversions and extension round here - a sure sign that the steps on the ladder are too large. Exactly the same thing happened when I lived in Finchley in London between 2006 & 2007. The basic truth of all of this nonsense is that once the bottom rung becomes too expensive (same in 2007), the steps on the ladder become too large (same in 2007) and prices are far outstripping salaries (same in 2007) then something has to give. You have prices doubling in a few years when salaries and the cost of borrowing don't change.
  5. I would like a ban on overseas property sales (like many countries have impemented) Rationing of home ownership while their is a housing shortage (or rather, the government should stop spouting nonsence about lack of supply and yet do nothing to address how this supply is allocated) Local authorities/housing association or any other public body that seeks and obtains planning permission on fresh land should pay the price for the land prior to permission being granted (they have this rule in Germany) Create a national banding of Council Tax and pay according to this rather tha local bands
  6. I also read recently (in the wake of the VW scandal) that something 80% of the loans to finance these deals are provided via FLS and QE - i.e. the car industry is being funded by printed money.
  7. Found this to be interesting, if not entirely surprising - it is generally very supportive of long held views on here. http://bankunderground.co.uk/2015/09/03/local-housing-booms-and-busts-in-england/
  8. The Raj is becoming a letting agency! Just what Hale needs - an other property business to go with the eight already there.
  9. Reading through a few threads over the last couple of weeks it seems that the economic mood is less positive. Furthermore, the "recovery" seems to be running out of steam. This shift coincides with the recent property "boom". To my eyes this is clear evidence of how little has been added to our economy in the last 5 years. I see a simple correlation between the boom in property prices and the decline in investment elsewhere as a result of demand being redirected to our favourite non-productive assets. It wrankles that a simple reallocation of demand away from property will achieve far more than misguided attempts to "boost" overall demand. Constant over-investment in property assets has left us without the ability for demand to grow. If property price growth was as a result of a genuine increase in demand then there would now be a building boom. There isn't and the housrbuilders are content to suck as much out of the economy as possible for the minimal amount of investment.
  10. I agree with the OP completely. However, I hold in a very simple as idea which is that the current situation cannot continue. Nothing ever increases indefinitely and nothing stays the same forever. The pressure is to great this time as what was seen as a financial problem has become a social problem and that widens the scope for unexpected events.
  11. Loads showing SSTC to available (around my way) in the PB drop down box, but listing/ photos still have the SSTC banner on is this due to lazy EA`s /Rightmove issue ? or a bug with PB? anyone else seeing the same Also the problem above seems to have the same date stamp ,( todays date ) assume thats because i installed update today I have noticed the same. I think it us the way that it has been refreshed. The SSTC still stands from what I have seen. Sadly.
  12. I am forever irritated at the meme that private landlords 'supply' property to the market. Any sniff of crackdown on them and they squeal about withdrawing this 'supply'. Well, how about combining two issues with the private rental market for the benefit of all. Basically, landlords should only be able to claim interest relief for loans relating to the construction of property. It could be extended to cover extensions and certain categories of improvement such as double glazing and energy efficiency etc. Thoughts?
  13. I have been on and off this site for years and don't miss the likes of McTavish and Sibley. They viewed us HPC ers as small minded jealous people who simply wanted to gain from other's misfortune (as they would put it). They couldn't see that we were actually arguing against the damage that HPI was causing to the very balance of society as they were happy being the beneficiaries. No one can argue that society is better off as a result of HPI. The financial crash and consequent fixes have made this country a worse place to live. Instead of competing with each other through endeavour and enterprise we are now a society that seeks to compete through denial and strangulation. I would love to return to a time when your lifestyle reflected your economic achievement rather than your access to assets.
  14. I see it in very simple terms. The market has ground to a halt as evidenced by the lowest ever stock on EA's books according to RM. This suggests that people cannot afford to sell as they cannot afford to move on. The financial manipulation has simply swallowed up the effective demand available. Boom prices do not resonate positively when not accompanied by a booming economy, like pre 2008. Society now views prices as an abberation with only vested interests celebrating them today for their own ends. Thus the market is locked. Where we go from here is unclear. But what is certain is that things cannot continue as they are.
  15. I am not surprised at that answer from your solicitor. Up to to decide but solicitors always give safety first advice since it meets their insurance needs and generates fees.
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