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TheEngineer

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Everything posted by TheEngineer

  1. We bought our place in Berlin, Germany, for cultural reasons but German friends thought we were crazy for locking up a pile of money in property unnecessarily. That's why they often rent - because they don't have to buy to get adequate security of tenure and price. From our experience in Berlin rent controls work extremely well and can see no reason why the UK should not do the same here. The bonus is that the lightweight landlords sell-up leaving only those that can face the task of responsible rental in the business. Rents are set by the local town hall and maintenance appears to be policed
  2. Above, from your very good posting, but am curious. I can see land is a relatively easily detected indication of wealth (in the UK at least) but why not base income tax, as in any incoming cash streams, upon ALL amassed wealth. So ... If you have plenty already AND you're adding to it you pay most income tax. I'm uneasy of any taxation method that presents a cost out of an uncertain income - Or is LVT proposed to alter income tax level only?
  3. Heard on the radio just now that IDS is looking to cut 10 billion of the welfare budget. Isn't rent control the obvious way to go? The topic seems to be casually dismissed and never discussed on the MSM despite its stable implementation around the EU He'd best hurry as if folk start to retire (if ever) still in rented pads he's going to get a nasty surprise.
  4. It should be mandatory for sellers to stipulate the area of the property in sqM. In Germany it's done like this, I think it excludes the kitchen and bathroom too. Or at least specify 'Parker-Morris compliant' in the listing - I suspect few new-builds would pass.
  5. I watched a BBC Spotlight (Northern Ireland) last year where an EA said that their only sales where to cash buyers - I can understand - The banks hardly need to be directed toward prudent lending since their previous risk-reduction mechanism, predictably, blew-up in their faces. As Michael Lewis wrote in his recent book, The Big Short, however did banks delude themselves that anything else could happen? So with responsible lending reinstated, a future generation deftly burdened with student loans, gov support to help banks' forbearance and through a period of deflating collateral, it is just
  6. Blast! Where's the EDIT link gone. As far as Shapp's Granny being forced out. Well using the my suggestion above she'd be safe since her low in come would be under the tax theshold, despite her mansion wealth. However, if she couln't afford to RUN the place on her pension she really would not any business remaining in such a house.
  7. Brilliant! That's going into my book of quotes.
  8. Aside of GDP has an alternative measure ever been seriously considered? I often wonder, maybe someone could set me straight, whether GDP takes into account the *cost* to society of its constituents? Would super profitable CasinoGablingHouse plc or LoanShark plc contribute, or suck, from GDP ?
  9. Nothing revelatory, just some bearish writing from a normally bullish site. Buy to let investors in the UK are setting themselves up for a fall if they continue to purchase overpriced properties.
  10. Lots of MSM talk of country-wide price falls. I'm not yet seeing any departure from 2007 prices in Bristol. Anyone?
  11. And a world away from VI spin I have read that lending is 20% down from 2008 which struck me as very odd since the lenders criteria changed so dramatically. So pretty much pm;y greater-fool cash buyers left in the market? Or would you read it differently?
  12. I think the wave of IO mortgages maturing where the borrower has made little provision for payback; relying on ever-increasing prices and optimistic of the greater fool to buy from them. To get an idea of the wave developing and identify some likely dates would be a chart of the number of IO mortgages taken out over the past 15 years.
  13. Can anyone expand on what this is about? Bank buck passing? Connells Survey & Valuation, one of the largest panel management and survey organisations in the country put aside a contingency for claims concerning property valuations which lenders now feel were too high. Connells profits rise despite shadow of valuation claims
  14. This was true yet rent control as applied in Germany does not appear to have the effect. of creating poor standards. Perhaps, alongside any rent control model must be a compulsory license and policing of standards?
  15. Corby cites the German model which seems to work successfully despite it's Town Hall controlled rents, standards of upkeep, secure tenancies and the like. Given it's German effectiveness it seem inarguable that it couldn't work in the UK but it does put a longer-term investment emphasis on landlords. I understand that in Germany these are often organisations and banks.
  16. Jeremy Corbyn MP plans to introduce a Private Member’s Bill to regulate the private rented sector, which he called an ‘utter disaster’. Tenure and rent control addressed: http://www.lettingagenttoday.co.uk/news_features/MP-set-to-introduce-Private-Members-Bill-to-control-lettings-industry
  17. Zerohedge has been referring to Liebor for an age. It's becoming clear now but must be assumed as normal behavior in the biz?
  18. I prefer the idea that the tax payable from income should be based upon the total value of accrued assets. vis. Your archetypal 'hard working family' would pay low tax as they are starting out Mr Murdoch would pay maybe 90% as a result of existing wealth Entrepreneurs without significant assets would pay almost no tax on income Little-old-lady would be low income would be below income tax threshold so would be ok despite her big house Inheritance would remain untaxed but if sizeable would lead to higher income tax. Could it work?
  19. A bit rambling but perhaps useful for its 'insider viewpoint'. This is from the Mortgage Finance Gazette
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