Milton
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<h2>Flats in London's Shard skyscraper are set to break two records when they are sold this summer - not only will they be Europe's highest homes, they will also create the world's most unequal neighbourhood in terms of house prices.
Spread over 13 floors in the 1,017ft glass building, the ten apartments are likely to cost between £30m and £50m each, according to research commissioned by Reuters from the property consultancy Savills.
This is in line with Europe's current priciest homes at the Candy brothers-designed One Hyde Park in Kensington and Chelsea.
Although the Shard was designed by award-winning Italian architect Renzo Piano, who also worked on Paris' Centre Georges Pompidou, its surroundings near London Bridge, which once served as a model for the slums in Charles Dickens' novels, are significantly different to upmarket Knightsbridge.
In fact, at around £520 per square foot, the average price of a home in the SE1 postcode is less than a tenth of the £5,000 to £6,000 per square foot the new apartments in the 95-storey building are expected to fetch.
"You don't get this pinnacle of value in relation to the surrounding district in any other city in the developed world," Yolande [Vomit] Barnes, from Savills, said.
"It's the equivalent of building the Shard in Harlem."
Like many of the capital's most expensive real estate, the flats could attract buyers from Russia, the Middle East and Hong Kong seeking to benefit from the weakness of sterling and shield their money from global financial volatility.
Prices for the best properties in central London have risen 44% in the last three years, more than twice the increase across the capital as a whole, according to property consultant Knight Frank.
A spokesman for the Shard, which is being developed by London-based entrepreneur Irvine Sellar and funded by the state of Qatar, said it would act as "a magnet and catalyst for regeneration" and one local estate agent said its towering presence had already boosted interest in nearby homes.
But the glass spire has its fair share of critics.
The United Nations cultural body UNESCO said the Tower of London's world heritage status was at risk because the skyscraper compromised its "visual integrity" on the skyline while columnist Giles Coren, writing in The Times, described the building as an "engorged rectilinear monument to fat-cattism" that has been "dumped directly behind St Paul's".
http://news.sky.com/home/business/article/16207433
Slums of the future?
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Here's a quote from Paul Fisher (Executive Director of the BoE and member of the MPC) broadcast on Sunday in a programme called "What is Money?" in the Radio 4 series "Analysis"
Presenter: Would you mind if I printed my own money - it wouldn't look anything like yours from the Bank of England.Paul Fisher (Bank of England): Yes we would mind. When you start printing money, you create value for yourself. If you could issue one thousand pounds worth of IOUs, you've got a thousand pounds for nothing. And so we do restrict people's ability to create their own notes in that way.
Presenter: You're protecting us against ourselves.
Fisher: We're protecting you from charlatans.
Listen to the original here (29 min; right towards the end)
So if someone can create money out of nothing, they get value for nothing? And are charlatans?
Does this only apply if you're printing paper money, or does it also apply to the banks that have created over £2trillion of money out of nothing electronically?
Did they get £2trillion of value for nothing?
Something for us all (and especially the Bank of England) to ponder!
*Positive Money's Newsletter
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Those proliferating Wonga adverts are strange. Puppet caricatures of old people champing at the bit for 2000% APR loans?
Wonga want to destroy the last bastion of resistance against indebtedness by overturning the stereotype of the prudent elderly. This evil is flourishing in our debt laden wastelands.
I thought exactly the same thing upon viewing the Wonga Ads, whilst channel surfing. Really Alien.
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Short, sweet, informative.
Highlights the outright Evil of our modern Banking System and how we arrived here.
Religious/historical told from a Muslim perspective.
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The reactionary aspirations of the French aristocracy in the period leading up to the French Revolution, to defend their own [indefensible] fiscal and political privileges, was the immeadiate cause of the French Revolution.........
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I complained about a local councils mortgage authority scheme, on 5 different occasions, asking questions, all were ignored by said Labour councillor.
Frustrated at being ignored, I sent a short mildly insulting Email, to whom I believed was the moderator of the site, to which the councillor replied using intimidation, stating he would not respond to any of the pertinent points I raised, and would send my final email to the local borough solicitor.
I also sent him a link to the discussion on this website, regarding the issue.
I believe he may frequent the website, now and again...........
W_A_N_K_E_R
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and if house prices drop 65%, people will be rioting on the street
Yet its completely acceptable in the eyes of the states propganda machine the BBC, for 40 year olds to have spent their entire working lives, paying tens upon tens of thousands in rent to liar loan landlords, and not be able to afford a rabbit hutch, then have their money stolen to pay to keep other peoples houses at massively overinflated levels.
When the priced out riot, the BBC should be one of its first targets.
It's become Orwells 'Ministry of Truth'
How about a report showing how many of the thousands of executives, paid six figures, at the BBC invested directly or indirectly in BTL property from the years 1997 to 2007?
Property which would have historically have been bought by a FTB?
No? How convenient.
"We were only following orders"
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I know someone, whom has been shopping at Morrisons for a long time. Decades.
Over the last few months, she's noticed on her reciepts, that Morrions have been overcharging her, nearly every week.
Last week it was two Carte Dor tubs of Ice Cream marked at £5 for 2, charged £3.49 each.
The week before last it was some rowntrees aliens sweets for kids, marked at 0.72p. Charged £1.55
And quite a few other items.
This has been going on for months, and because she doesnt have the time to check her reciept at the checkout, she only realises when she gets home.
Morrisons must have made a killing by labelling deals, and food at one price, then charging the full price at the till.
[The last time she went, she did check it at the checkout, and found 5 items which had been labelled at a lower price than they charged her.]
She mentioned this, no apology, the manager, just said we have 3 people who are supposed to go around the store checking prices, or it could be someone pressing the wrong button in a different office......
Needless to say she has kicked them into touch. But I bet its still going on, and nobody does anything about it.......
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I will not let house prices get out of control and put at risk the sustainability of the future.
Gordon Brown 1997
The worst Chancellor in history.
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I assume the BBC clearly stated the reason for this was because of High House Prices?
I've yet to see one BBC commissioned program which links A to B to C, and clearly states.
This is why house prices tripled in a decade. Instead they push 'Shared Ownership' on everything from the News to Countryfile.
Then again, with their £3.2 billion budget, and thousands of executives on six figure salaries, they were all acquiring BTL property, historically bought by FTB's over the boom period. Whilst commissioning endless property porn programmes and ignoring massive mortgage fraud for many years.
BBC are part of the problem. Get rid of the license fee.
[They have always been extremely self interested and biased whilst pretending to be impartial. Thats why Orwell resigned from the BBC, whilst working in British Ruled India]
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The world would be a better place without Tesco........
This just comes off as a pathetic attempt by Leahy to justify his £15 million annual pay, whilst workers in Bangladesh, who make products for Tesco, get paid 70 pence per day.....for 14 hours work.
In other countries, Tesco have policies, which would not be allowed in the UK, because of the Animal Cruelty involved.
http://www.tescopoly...ntent&task=view
Tesco now controls over 30% of the grocery market in the UK. In 2011, the supermarket chain announced profits of £3.4bn. Growing evidence indicates that Tesco's success is partly based on trading practices that are having serious consequences for suppliers, farmers and workers worldwide, local shops and the environment.Click on a link to see how Tesco Affects:
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This is an interesting video:
http://www.cbsnews.c...ated;photovideo
At 3:29 in it shows a chart showing billions of dollars of Subprime Mortgages.
It then shows the ALT-A and option Arm resets which are coming, in the Billions of dollars, which has not 'hit yet'
It is beginning to hit now, and will continue over the next few years, as the artificialy low interest rates on mortgage deals run out, and are reset at higher interest rates:
'North of 50% of these are expected to fail" And the debt for Alt -A and Option Arm is bigger than SubPrime...
So the mortgage crisis in the USA is just beginning......
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Whoopee do.
I know that people who try and buy USA properties and rent them from the UK, often will quit, as it is too difficult unless you are actually located in the USA.
for the last few years lenders in the USA are struggling to balance between keeping foreclosed properties off the market, to keep prices as high as possible, whilst at the same time drip feeding repo's through.
But the amount of Repo's is accelerating, whilst the buyers are not.
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I could post MANY examples like the one I posted above for under $30k In every county in Florida
Some of them are in very nice areas/communities.
There is nothing wrong with these houses. Interiors will be finished to a higher spec than in the UK.
The national Average wage between the USA and UK is roughly the same.
Property Taxes vary widely from state to state. A million dollar home in a desirable neighborhood might pay $20,000 or more in taxes, or a $500k home, may pay $10,000 in taxes, whilst a modest home in a rougher area might only pay a fraction of that amount, all depends on the valuation of the property.
So not very different from UK Council Tax Bands.
The Average American spends under $3000 PA on healthcare.
And there are normally hundreds of schools to choose from.
http://www.greatschools.org/florida/
The HUGE YAWNING difference between house prices in the UK, and the USA is shocking.
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Yeah, but be fair.. those bay windows add at least £835k..
Either that or life in the UK is just 30x better than in Sunny Florida......Errrr.............
March 2012: Vancouver Shack vs Irish Luxury Hotel.
Vancouver [still in Bubble] Listing Price: $899,500
Description: "This 1 [?] story home has been extensively renovated over the last few years. The spacious kitchen has birch cabinets and Soapstone counters and opens to a 20x12' deck. Has a Kids Sandbox
Ireland: $860k [Bubble Popping]
55 bedroom luxury hotel overlooking the Donegal coastline
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Everything Red or Pink on this chart is in Foreclosure in 2008.... Apparently its got a lot worse since then........Mind boggling.....
Coming soon to a UK street near you............Amazing we havent seen a revolution over there..............F@ckin Bankers.
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Uncomplicated accurate version:
The Rich people have stolen all the money which means the average joe cannot function properly, economically. On a scale unseen, which nobody fully appreciates.
The last time this happened on this scale was just before the French Revolution.
I look forward to meeting my fellow HPC'ers in the Soup Kitchens, where we will look around in wonder, as the revolution weve talked about for so long actually begins
Because if Steve Keen's right, its that serious.
[i still reckon the people who own the central banks, must have known we would get to this stage, the NWO lot. How could they not? The Rothschilds and the Rockerfellers of the world. The people who caused this.]
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Im surprised that Paul Moore has not been found dead in a wood in Oxfordshire, with a pruning knife in his hand.
[Thats a recent video by the way. UL this month]
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Paul Moore, former Head of Group Regulatory Risk at Halifax Bank of Scotland, whose claims about risk taking at HBOS led to the resignation of its former boss Sir James Crosby from the UK's financial watchdog, reveals some very interesting insider experiences with the practices of bank lending, sales culture...
He answers some crucial questions:
Do the guys at the top of the banks understand that bank lending creates new money?
Do they consider the impact they have on economy?
Has anything actually changed since the crisis began?
"Incentives are all about sales."
"The banking crisis drove more than a hundred million people back into poverty, the mortality statistics of people who go into poverty, rise hugely... So, the banking crisis isn't just about becoming poorer, it was about killing people as well." And guess what? We havent gotten to the bottom of it. We havent held anyone to account...Paul Moore
"The Head of Risk himself, in retail banking said that they pay no attention whatsoever to risk management."
2009...........
http://www.guardian....11/hbos-banking
Sir James Crosby, the former chief executive of HBOS, was under intense pressure last night after a whistleblower [Moore] told MPs that he had been sacked for raising concerns about the lender's rapid growth in the years before the credit crunch.
In his dossier [Moore] said: "Even non-bankers with no credit risk management expertise would have known that there must have been a very high risk if you lend money to people who have no jobs, no provable income and no assets ... but they did it. They did it in their billions...."You simply don't need to be a an economic rocket scientist or mathematical financial risk management specialist to know this; you just need common sense."
After he left the bank, Moore brought a claim against HBOS over his sacking. He recovered substantial damages before the case reached an employment tribunal.
HBOS rejected Moore's allegations. It hired KPMG to conduct a review of them. "The report, which was shared by HBOS with the FSA, found these allegations had no merit," an HBOS spokesman said. The FSA declined to comment on behalf of Crosby.
Sir James Crosby, the former chief executive of HBOS, was under intense pressure last night after a whistleblower told MPs that he had been sacked for raising concerns about the lender's rapid growth in the years before the credit crunch.Crosby is deputy chairman of the FSA and recently conducted a review of mortgage lending for the government.
Crosby joined J Rothschild Assurance in 1977. After qualifying as a Fellow of the Faculty of Actuaries in 1980, he was part of the management team which founded wealth management firm St. James's Place plc in 1991, from floating out a majority of J Rothschild Assurance.[3]
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Why do we have to borrow at interest at all?
Why cant we borrow money created by the Government, and not banks, interest free?
And therefore debt free?
Was the last person to propose that President Kennedy under Executive Order 11100? [A few months before his death]
Spains Fourth Biggest Bank Just Bailed Out.
in House prices and the economy
Posted · Edited by Milton
http://www.bbc.co.uk...siness-18014077
Tick Tock Tick Tock Tick Tock........................
Spain has defaulted on its National Debts more times than any other country in the world.......
Spain has gone bankrupt a staggering 13 times in all since 1500.
Its almost a foregone conclusion, that Spain will default again isnt it?