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  1. Anybody see George Clarke’s documentary on Channel 4? I particularly agreed with the point he made about once people have secure affordable housing, it provides a solid base to build non-chaotic, manageable, meaningful lives.
  2. Odd that the Director of a building company needs to be accompanied by media handlers, standing in the wings, ready to intervene at a moment's notice to keep the interview on-message Very strange! Almost as if he feels incredibly guilty about something, or has something very embarrassing to hide!
  3. I've been renting my house from my landlord for 9 years. I think the house is worth about £400K. I can't afford to pay that much and landlord probably doesn't want to sell and take the CGT hit anyway. Landlord has owned the property since 2000 and probably paid no more than £150K, so if he sells at that price he would be looking at £100K CGT bill. Under this new proposal, if I paid him £325K (about the limit of my affordability) he could dispose of a potentially decreasing asset, save £25K, be relieved of all the management headaches etc. and the sale would be recorded at Land Registry at £325K not £400k, potentially adversely affecting the value of all similar properties in the area Looks like Win Win Win to me!
  4. Exactly, they are the landlord's agents not yours, so the landlord should pay all agency fees. If they are acting on your behalf, what instructions do they receive from you then act upon?
  5. Alan Greenspan and Ayn Rand were never lovers. You're thinking of Nathaniel Branden, another member of her coterie of younger admirers known as "The Collective". Greenspan was one of the more indendent thinking members of the group and nowhere near as in thrall to Rand's influence as the others.
  6. In that case, do you think we shouldn't be allowed to buy shares (speculate) in farming, food processing and food retailing businesses? After all you'll die a lot sooner from lack of food than lack of owning\renting a house.
  7. I bought a flat in Haringey North London in July 1988 for £82.5K. Seven years later in 1995 I could only get £50k for it, so that concurs with your memory of 40% drops. Also in 1995 I looked at some small 1 bed starter homes built on former BR land in Biggleswade. They were pathetic! the size of a shoebox, crammed in God knows how many to an acre. they were selling for around £25K. I got talking to some of the youngish couples who had bought them when they were built in 1988/9 and they had paid £49,995 with 100% mortgages so had massive negative equity but were still desperate to take it on the chin and move up. some of them had already started having families and were using the one (small) bedroom for the child whilst the adults slept on a sofa bed in the lounge (tiny room with front door opening straight to the street).
  8. Article by Iain Duncan Smith quoted on Property Tribes website: https://www.propertytribes.com/iain-duncan-smith-writes-on-btl-issues-t-127631706-post-309155.html#pid309155 Choice quotes: " I see that the total amount of rent paid to private landlords in Britain is now more than double the amount of mortgage interest paid to banks by homeowners" " I see also that HMRC are now saying that some 40% of private landlords are not now dealing with their tax requirements correctly" Seems he is a bit of a cheerleader for the BTL "industry"
  9. As I understand it, the Governor and Deputy Governors of the BOE are appointed by the Chancellor of the Exchequer. The 4 external members of the MPC are also appointed by the Chancellor. So by my arithmetic, 7 of the 9 members of the MPC owe their positions to the Chancellor. The creation of the MPC to set interest rates with the very narrow remit of controlling inflation was always just a bit of smoke and mirrors by the Scottish one eyed idiot. They are there to do the Chancellors bidding and provide a convenient expendable scapegoat when it all goes t1ts up!
  10. Just did my daily Rightmove search to see what has come on to the market in my area (North Herts\South Beds) in the last 24 hours to find 2 properties that I consider desireable re-listed at discounted prices. 1. Town Centre apartment asking price reduced from £330,000 to £300,000 2. Maisonette on private estate asking price reduced from £279,995 to £259,995 Not so long ago these would have sold in no time with potential purchasers bidding above asking price! It seems to be happening. Now the dilemma, do I go in now with a low ball offer, say £250K for number 1 or £225K for number 2 or wait and see if there is going to be a proper correction and possibly pick up something like these in 12-18 months time for under £200K?
  11. It's high time our elected representatives acknowledge the elephant in the room and begin the evolutionary process of adapting our economies to the new paradigm. My mini manifesto: Citizens income - there's not enough meaningful work to go around everyone that needs a proper income to get by. End the stigmatisation of unemployment, free up all the resource committed to administering welfare, which would create more unemployment and yet more need for CI. This can only be introduced once immigration is properly controlled. Stop taxing work and start taxing land and perhaps the electromagnetic spectrum (seeing as so many new enterprises now exist mostly in the ether) Monetary reform - our monetary\economic system is predicated on the assumption or need for constant growth(of GDP and the human population), which is impossible in a finite world. The world's resources may have seemed infinite 100 years ago but not now and we are still labouring under a system that would have been familiar to Karl Marx. Imagine a world where we all get just enough to get by without resentment for being the recipient of somebody elses hard work, and if you aspire to more you can work just enough hours per week without being penalised by excessive taxation. I've never been particularly ambitious career wise, but I've always had to work farly hard in jobs I've disliked to achieve financial security. I'd be more than happy to make do with slightly less and maybe work 2 or 3 days a week at something I enjoy and have more time to pursue my hobbies. This would leave my stressful managerial position open to somebody more aspirational. I believe this slightly utopian world is easily achievable, and the main obsticals are vested interests in the over financialisation of the economy, the FIRE economy in general and the coopting of the political class by these vested interests.
  12. Although the proposal was overwhelmingly rejected by the swiss people, their main objection seemed to be introducing CI whilst allowing free movement of people from other EU countries as part of their agreement to trade in the single market. They felt it would be a giant magnet for immigration. If they didn't have the free movement of people agreement the result may have been quite different.
  13. "Golf is a game of wealthy elites" ....... Hahaha. Don't make me scream with laughter! I am a keen golfer and I'm a working wage slave like most on here. Annual golf club membership is £1200 pa paid monthly by DD. I know dozens of other golfers too and they range from taxi drivers, builders etc to accountants, doctors etc. It's a great hobby, very healthy for a middle age bloke like me and a good way to stay in touch with my old mates now we're all a bit passed it to play football or go out on the pull on a Fri\Sat night. Please don't try and demonise golfers
  14. Have a listen to the Radio 4 Monebox Buy to Let episode from last Saturday: http://www.bbc.co.uk/programmes/b0631nq3 TBH I'm suprised I haven't seen anything on the forum about it This will give you an idea of who is paying these ridiculous prices. E.g. late middle aged couple payed £490,000 for a one bedroom flat, with stamp duty and furnishings that must be at least £510,000 outlay. They receive £1300 pcm rent, net after service charge etc. That's 3% yield gross! they seem to be happy about probably losing money month to month on the rent because they are in it for the long haul and the massive capital appreciation that will unboubtedly materialise over the next couple of decades. After all, the lady being interviewed bought her own flat in the area for £107,000 which is now worth £650,000! There will be no price correction until these types of people have been well and truly scared away from BTL
  15. Thanks jammin35! Looks like this will not affect the BLT'er with just the one property too badly, but will make a serious dent in the profits of serial offenders!
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