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Saving For a Space Ship

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Posts posted by Saving For a Space Ship

  1. Food poverty set to worsen as September’s Universal Credit cliff edge approaches

    A perfect storm is brewing—the impending overnight cut to UC, the end of the furlough scheme, and a dramatic increase in energy price (& food shortages). All these devastating changes are planned for the start of Oct.

    https://blogs.bmj.com/bmj/2021/08/26/food-poverty-set-to-worsen-as-septembers-universal-credit-cliff-edge-approaches/ 

  2. Heatwave risk from plans to convert shops to homes

    https://www.bbc.co.uk/news/business-58029653

    Quote

    Planning reforms to convert shops and restaurants into homes could lead to more people suffering from potentially deadly heatwaves, claims a report.

    From 1 August, firms will be allowed to redevelop a wider range of commercial property into flats.

    It is hoped the move will regenerate City centres that have struggled during the pandemic.

    But Zurich UK warns it risks creating more poor quality homes vulnerable to overheating in the summer.

    At present, disused office space can be converted into residences without having to apply for planning permission.

    From August, so-called permitted development rights will be expanded to allow vacant retailers, restaurants and gyms to be changed into homes.

    But Zurich UK, the insurance group, said: "A rush to redevelop shops and offices left empty by the pandemic could create a swathe of sub-standard homes that are vulnerable to climate change.",,

     

  3. Britain's most controversial landlord Fergus Wilson offers to sell government 150 homes to accommodate Afghan interpreters fleeing Taliban

    https://www.kentonline.co.uk/kent/news/ill-sell-government-150-homes-to-house-afghan-interpreters-252372/

    Fergus Wilson arrested in Perryfield Street in Maidstone

    https://www.kentonline.co.uk/maidstone/news/landlord-arrested-in-little-hitler-row-251949/

  4. Radio 4 now 

    https://www.bbc.co.uk/programmes/m000z0qd

    An estimated 10k empty properties around Barcelona. 

     

    Quote

    Catalonia: Squatters, Eviction and Extortion

     

    Spain has a history of squatting. After the property crash of 2008 many families were forced to occupy homes that did not belong to them because they could not pay their mortgages. Now a darker side to ‘okupacion’ has emerged. Organised crime has seen an opportunity. Some flats in Barcelona have become ‘narcopisos’ - properties used to process or sell drugs. Other empty properties have been ‘sub-let’ by gangs to families who cannot afford a commercial rent. And the pandemic has spawned a new commercial model – extortion. These are cases where squatters occupy a property and demand a ‘ransom’ from the owner of several thousand Euros before they will leave. Enter the controversial ‘desokupa’ companies – firms run by boxers and bouncers who will evict unwanted 'tenants'.

     

  5. UK plunges towards supply chain crisis due to staff and transport disruption

    https://www.theguardian.com/business/2021/aug/24/uk-retailers-stock-supply-shortages-covid-pingdemic

    Co-op supermarkets facing worst food shortages ‘ever seen,’ says chief executive Steve Murrells

    https://www.standard.co.uk/news/uk/co-op-brexit-mcdonalds-nandos-lorry-food-closing-shortage-b952220.html

    The Co-operative boss shared the news in an article published in The Times on Wednesday.

    The supermarket group will be reducing some of its ranges as a result of the food industry’s struggle to keep stock levels healthy in the midst of COVID-19 and post-Brexit migration rules.

  6. Sunak’s stamp duty holiday hard to square with ’levelling up’ rhetoric

    https://www.theguardian.com/business/nils-pratley-on-finance/2021/aug/24/sunaks-stamp-duty-holiday-hard-to-square-with-levelling-up-rhetoric

     

    Quote

    . There was some justification for giving consumers – unvaccinated at the time – a nudge towards going out for a meal last August. There was no need whatsoever to put a rocket under the housing market.

    The consequences of this decision are now all too apparent. House prices rose at their fastest annual rate for 17 years in June as buyers scrambled to beat the deadline for the stamp duty threshold being cut to £250,000. Then, as the latest HMRC figures have shown, there was a 63% fall in transactions in July. A further mini boom can be expected in September before the return of stamp duty to its pre-crisis level of £125,000.

    There are structural factors that mean house prices in Britain are skewed to the upside. This is a small country with a large population and tough planning laws. Add in ultra-low interest rates, strong competition from mortgage lenders and a large dollop of pent-up demand resulting from last spring’s lockdown, and it was obvious the market was going to take off even without a helping hand from the chancellor.

    Extending the stamp duty holiday for a further six months in this year’s budget has compounded a policy blunder that has resulted in prices rising by £2,500 a month on average over the past year, pushing home ownership further out of reach for Generation Rent and exacerbating Britain’s intergenerational divide. The government is ostensibly committed to levelling up. It’s hard to square that with a scheme whose major beneficiaries are estate agents, big builders and the already comfortably off.

     

  7. On 14/07/2021 at 22:00, Mikhail Liebenstein said:

    Channel 4 went off air today for 5 minutes just before Kirstie and Phil's Love It or list It.

    https://www.dailymail.co.uk/news/article-9789219/Viewers-fume-Channel-4-goes-message-programmes-continue-shortly.html

    Own up, did someone on HPC build a giant UHF jammer?

    Perhaps ' Let it or Lose it ' would be a good title for the next series. 

    ie rent the place out and go & live with mum before the mind boggling  debt they got into consumes them & the place is repo'd 

  8. Not sure if this Economist article got a mention from last month ..

    Why don’t rising house prices count towards inflation?

    https://www.economist.com/the-economist-explains/2021/07/29/why-dont-rising-house-prices-count-towards-inflation

    Quote

    MEASURING INFLATION is among the most important jobs a statistician has. Consumer price indices (CPIs) determine how much pensions and benefits increase, anchor negotiations between workers and firms over pay, and guide central banks when they decide how to set interest rates. Yet official measures of inflation tend to ignore one of the most important purchases many people make. Why aren’t house prices included in measures of inflation? Should they be?

    20210731_WOC013.png

    In most advanced economies, house prices have grown much faster than consumer prices over the past 25 years (see chart).

    Many commentators claim this means inflation is systematically understated. New Zealand’s government has asked the central bank to explain the impact its interest-rate decisions have on house prices.

    And the question of whether rising housing costs were getting enough attention was a significant theme in the European Central Bank’s (ECB) recent strategy review.

    Governments first paid proper attention to measuring inflation around the time of the first world war, when they knew prices were rising and wanted to make sure workers’ pay kept pace with living costs.

    Initially the indices were focused on food prices, but more goods and services were added over time.

    The list would typically be reviewed regularly, but some elements, like housing, were hotly debated. House prices were included in America’s CPI between 1953 and 1983 before being removed.

    This was partly because indexing benefits and pensions to inflation had become expensive and some politicians wanted to bring measured inflation down.

    So why doesn’t CPI include house prices? Inflation is a measure of the costs of buying goods and services for consumption today.

    A house provides shelter and security to those who live in it, but the value of those services is dwarfed by the price of the house. So buying a house is about investment rather than current consumption.

    Although some goods in the inflation basket, such as cars and refrigerators, also yield services over several years they typically depreciate faster than a house, and so the difference between the value of the services and the price paid is much less extreme.

    (Houses do depreciate over time but not to zero. If you did no repairs on a house it would lose much of its value although the land it stood on would not.)

    That is not to say that inflation measures should ignore housing altogether. Most existing measures include the cost of renting and maintaining a property, since those involve consuming a service today.

    Some more sophisticated indices include other housing costs too, such as mortgage-interest payments or an estimate of the rent that owner-occupiers sacrifice by living in the house rather than renting it.

    These perhaps hint at measures the ECB might start to emphasise in the future—the “consumer cost of an owner-occupied house”, not the property’s price.

    Including house prices, which can be volatile, in inflation would be difficult. And it is not straightforward to calculate the proportion of consumer spending directed towards buying houses.

    A person could go 20 years between two house purchases, and then might spend more than eight times their annual income on it.

    But many people also sell a home at the same time as buying a new one, so what matters for their spending is the relative movement in the price of the two properties.

    Economists are well aware of the social and political tensions surrounding house prices. But putting them directly into inflation is not likely to make them more affordable.

    It might even force central banks to raise interest rates. In New Zealand, giving monetary policymakers more responsibility for house prices was largely a political gesture.

    Other policy changes, like tightening loan-to-value requirements on new mortgages, have been more effective. Governments should sort out the inefficiencies in today’s housing markets, rather than make them somebody else’s problem.

     

  9. 13 hours ago, Cocha said:

    https://www.bbc.co.uk/news/articles/cjkdyy9xgn3o

    As the banks are going into the rental market, I'd guess buy. They won't have to sell repo's at auction, just let them out instead and make even more.

    Except...... when times get really hard . poor folks rent a lot less, they cannot afford rent & the benefits get cut drastically so they go & stay with friends & family , live in a van / boat / caravan / garage , go abroad etc 

  10. 16 minutes ago, TheCountOfNowhere said:

    Might save even more losses.  Imagine you didn't buy the massively over priced bank collapsing bubble priced house in Surrey in 2009 for 800k...you now need to pay £2m to live in a house on a main road across from a crappy housing estate

     

    Are you screwed if you don't buy now as inflation takes off and makes your money worthless, or are you screwed if you buy now in this proper mania

     

     

    God only knows 

     

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