Jump to content
House Price Crash Forum

Assume The Opposite

Members
  • Content Count

    886
  • Joined

  • Last visited

About Assume The Opposite

  • Rank
    HPC Regular

Recent Profile Visitors

1,060 profile views
  1. I got emailed the details for buying a new build shared ownership off plan in Northants. The prices aren't insane compared the area generally but I refuse to buy off plan, especially putting down £500 deposit for something I can't even look at..
  2. This is it really. We've had 40 years of neoliberalism that has allowed the City of London to become the parasite and dictate where credit goes, mostly into housing for 'mad gainz'. Neoliberalism has spread globally across political parties both left and right. https://neweconomics.opendemocracy.net/the-ten-graphs-which-show-how-britain-became-a-wholly-owned-subsiduary-of-the-city-of-london-and-what-we-can-do-about-it/
  3. I don't even earn that a week! I'm in a skilled IT job yet would probably earn the same or more working in Aldi. I'm changing jobs anyways but I know of other people who are in worse situations. I went straight into the private rented sector from 18 years old and have usually spent around half my income on rent. Shared ownership allowed me to cut my expenditure on rent by half but not everyone can do that. If people's incomes are mostly spent on housing costs, it makes you wonder the true impact of less disposable income in the economy.
  4. I think HTB has worked exactly as intended... to inflate the balance sheets of big banks and developers. Help to sell as Max Keiser called it back in 2013 time. This was Japan's private debt bubble:
  5. Kier shares plunge more than 40% after profit warning https://www.theguardian.com/business/2019/jun/03/kier-constrution-firm-shares-tumble-after-profit-warning
  6. I think Osbourne knew the effect HTB would have but the sugar rush would wear off by the time he got in power again.
  7. Interesting post from BOE in 2015: "Depositors who deposit their money with a bank are therefore no longer the legal owners of this money, with the bank holding it in trust for them, but rather they are one of the general creditors of the bank" https://www.bankofengland.co.uk/-/media/boe/files/working-paper/2015/banks-are-not-intermediaries-of-loanable-funds-and-why-this-matters.pdf?la=en&hash=D6ACD5F0AC55064A95F295C5C290DA58AF4B03B5 I wonder what the reaction would be if a lot more people understood this..
  8. The 1% have done really well out of QE, ZIRP with massive global asset inflation. I don't think Carney is incompetent or stupid.. his interests just don't align with the general public. He left Canada with a massive housing bubble and I've always wondered if he was hired to inflate a similar one over here..
  9. Public sector, education= 0%. I'm starting a new job as TPTB are looking to outsource our IT teams to private companies. It's funny how the trust team command obscene salaries while everything else is dwindled down. If the trust was dissolved tomorrow , things would mostly carry on as normal. It's easy to see where the money goes😆
  10. It's always on the horizon.. 2016, 2017,2018 now 2019. Not that we don't have an economy built on sand and ever increasing mortgage debt but I'll believe it when it happens.
  11. Bang on, Bank of England admitted in 2014 that 97% of the money supply is created by private banks.. https://www.theguardian.com/commentisfree/2014/mar/18/truth-money-iou-bank-of-england-austerity What do private banks mostly lend for? Mortgages. Private debt to gdp tracks house prices pretty well. "Henry Ford is supposed to have remarked that it was a good thing that most Americans didn't know how banking really works, because if they did, "there'd be a revolution before tomorrow morning". I opted for shared ownership a few years ago, and even with salary increases I still can't borrow enough to make up a full mortgage. I've been maxing out overpayments to the mortgage though. Funny thing is, the money I was paying for private renting was equal to a full mortgage.. 🤷‍♂️
  12. The Bank of England let the cat out of the bag a few years ago, essentially around 97% of our money supply is create by private bank lending. Creating money out of thin air. Banks mostly focus on mortgage lending, rather than the real economy where gains would probably be smaller. Combine that with globalisation, wage stagnation, privatisation, immigration etc, it's no wonder people are ******ed off.
  13. It's not only the loan costs that increase, but re-mortgaging options are limited too. With MMR they may face tighter restrictions with paying the loan interest and not many lenders offering products. "Help To Buy homeowners who want to switch to a cheaper mortgage face long delays and hefty administration fees costing them hundreds of pounds" "Homeowners may also find they have to pay large administration fees and that their choice of deals is very limited" https://www.thisismoney.co.uk/money/mortgageshome/article-6232649/Hidden-catch-Help-Buy-Homeowners-face-mass-red-tape-remortgage.html "And in some cases, borrowers may even find the lender they took out their original Help to Buy mortgage with, doesn’t offer remortgages under the scheme" https://www.thesun.co.uk/money/5862012/thousands-of-help-to-buy-mortgage-borrowers-trapped-due-to-lack-of-choice-and-high-fees/
  14. Barclays keep offering me a pre-selected loan up to £25,000 / 120 months on the app. That amount wasn't £25,000 a while ago and now they sent me a letter with the offer.. Desperate?😝
  15. Bail in's have been in law since 2013, and were done in Cyprus with little resistance. The Bank of England actually said in a publication: "Depositors who deposit their money with a bank are therefore no longer the legal owners of this money, with the bank holding it in trust for them, but rather they are one of the general creditors of the bank" https://www.bankofengland.co.uk/-/media/boe/files/working-paper/2015/banks-are-not-intermediaries-of-loanable-funds-and-why-this-matters.pdf?la=en&hash=D6ACD5F0AC55064A95F295C5C290DA58AF4B03B5
×
×
  • Create New...

Important Information

We have placed cookies on your device to help make this website better. You can adjust your cookie settings, otherwise we'll assume you're okay to continue.