Neverwhere

Nice little anecdote from Busta: (Emphasis added)

Okay, if you don't want to believe that V and I are friends, then don't believe it <shrugs> Source See above re. everything else.

Nope (I'm just playing and dropping in references to amuse V should he choose to catch up on this at some later date, but the Gluten Free, Casein Free option is an inspiredly surreal interpretation. Kudos.)

There's also this article from 2013, as something of a brief introduction: On the Phenomenon of ******** Jobs: A Work Rant by David Graeber

The on topic performance art aspect to it all has been decidedly amusing though

+ 1 I'll add to that, that although they didn't work up the courage to post until V took a long break from the forum (and appear to have run scared for a couple of weeks when Venger popped back as, not being Venger, they had no idea whether he was going to stick around or not); if you check the dates the sleeper account was created at about the same time as Busta posted his grand conspiracy theory about HPC and Bland Unsight, though he couldn't bring himself to openly name him - How Three Dozen Morons Influence Anti Landlord Media It seems an unlikely coincidence that the vast majority of the initial posts from a sleeper account created at that time were spent obsessively having a go at BU whilst also struggling to bring themselves to name him directly

Which only goes to show that you don't know Venger very well. V and I are good friends. And that is not Venger.

They're not Venger they're just the GFCF.

So much of PovertyLater is a brilliant advert for exactly what's wrong with BTL and BTLers.

Nice! Added in to the additional property SDLT thread:

From The Sun: CRY-TO-LET Britain’s 2.5million buy-to-let landlords could face Stamp Duty rate hike in the Autumn Budget h/t @mathschoc

Oh I don't know, I think the implication that BBC One is a bastion of innovative investment advice for extraordinary and imaginative people is pretty funny

That all sounds right to me. HTB seems unlikely to step in and fill the void left by tax- and underwriting-constrained BTLers, as it's clearly not having as much take-up as would be needed to support current prices if 40% of London new-builds are having to be sold at discount to corporate buyers. What we have at the moment is a fall off in effective demand, which can be a slow run thing when it comes to price falls, as it takes a while for the reality to filter through to all parties. As the market starts to stall then, as Longgone outlines above, the incentives for speculators to jump in decreases, even where they can afford to do so, and that further reduces demand. It might take a good long while to play out to the point where existing speculators start to panic - and that can be a long and boring wait, especially for those who've been paying attention from the beginning - but once they do things could start to move very quickly.

Now that is a pretty chart Posted elsewhere already but this seems like something which will be helping that line southwards:

I wonder what impact this is going to have on the Acadata index given their new methodology:

Also being picked up on CNBC now:

+ 1

If BTLers have been setting a floor under market prices then a reduction in BTL buying capacity at the same time as an increase in BTL sellers is a double whammy hit. The CML bill the map below as showing the amount of extra deposit BTLers need to purchase 2 bed rental properties, but another way to look at it is how far property prices have to fall from 2016 levels for BTLers to be able to afford them, if they can even qualify for a 145% ICR, (which is unlikely to meet PRA underwriting requirements for higher and additional rate taxpayers). (Source)

It is a good read - and it's gotten better since I last checked it!

I think it's a surprise for them

I thought that was likely, but just wanted to make sure it was clear for everyone reading Sorry, I misread and didn't pick up that you'd purposefully excluded the bit about bitcoin at the end of that paragraph.

Reads to me like they are themselves struggling to maintain their investment properties as well as remortgage them.

No - and it's also not me that said it! As per the HMRC policy paper I linked to above:

I'm not sure they're disagreeing with that so much as claiming that - in their view - tenants don't deserve homes and they want to be able to liquidate their BTL investments at will.