Barnsey

What'll really get your blood pressure up...BoE THEMSELVES now admitting their low interest policy has caused this bubble, AND the previous housing bubble. In full agreement with Ian Mulheirn's research: https://bankunderground.co.uk/2019/09/06/houses-are-assets-not-goods-taking-the-theory-to-the-uk-data/ Crucial question is, why release these opinions right now as house prices level off? Have they figured out that all the excess new build supply will contribute to a downward price shock to come next year, and therefore aims to give the homebuilders political headroom to stop construction, at least temporarily?

Largest monthly drop since July 2012 😯

+ landlords on 2 year fixed rate mortgages to avoid stamp duty hike now on SVR due to bank now having to assess entire portfolio affordability

So RBS/Natwest amending their terms and conditions to allow them to "help" customers in persistent debt by freezing their spending, allowing them to focus on repayment. This is going to have significant ramifications in the looming recession. A much quicker, vicious reigning in of debt than the last downturn. Many more banks to join in I'm sure leading up to the new FCA rules in September. 3 million to be affected. https://amp.theguardian.com/money/2018/jun/02/credit-card-spending-terms-conditions-rbs-natwest

If anyone has any purchases to return to House of Fraser I'd recommend doing so at doors open tomorrow morning...

Work colleague has just moved into a £377k new build by Miller Homes, and it is just shockingly poor, he's got quite the epic list of complaints including windows falling out, light fittings falling out, kitchen cupboards all squint, leak in kitchen now causing mould, damaged shower tray, very low water pressure, poorly finished tiling and walls, back garden is just uneven ballast, so many items not matching order or missing, telephone sockets unusable as not fitted properly... the list really does go on and on. He reckons he's also going to have to go down the legal route.

Sweden. 140 year mortgages a thing of the past, now limited to just 105 years. https://www.thelocal.se/20160324/sweden-limits-mortgage-loans-to-105-years

Mark Carney signals 'hard' Brexit could see Bank of England print more money https://news.sky.com/story/mark-carney-signals-hard-brexit-could-see-bank-of-england-print-more-money-11384434

Only a 10% fall over 3 years, oh well might as well give up now

Yet another article along the same lines as @durhamborn , looming liquidity crisis: http://www.mauldineconomics.com/editorial/a-liquidity-crisis-of-biblical-proportions-is-upon-us/#

Indeed, and the not-so-young. especially in the SE. It's easy for us to critique on here but most of them feel as though they have no other choice. I imagine these things are planned so far in advance due to our insanely restrictive planning procedures that, despite economic forecasts, homebuilders (just like their HTB customers) are guilty of getting a little caught up in the good times. For those painfully holding off long term and continuing to fund landlord early retirement lifestyles (like me), this extra stock is most welcome.

Exactly! The last recession claimed Woolworths, MFI, Zavvi, Focus DIY, C&A, JJB, Comet among others, over a 4 year period. As far as I remember, only Dixons went under prior to the recession but that just became Currys Digital anyway. Yet during the "as good as it gets for the economy" times recently, we've already lost BHS, Staples, Toys 'r' Us and Maplins, and we're not even in recession yet, nevermind the mass branch closures of numerous restaurant chains to try and "save one's bacon"

Thing is, many of the STC listings have reappeared 2-3 months later back up for sale at the same or a reduced price, so there's something afoot! This is Berkshire.

What I do love Rightmove for, in conjunction with Property Tracker for Chrome, is really closely tracking specific areas I'm interested in, adding reductions and deleting sold/withdrawn properties daily and seeing how things move, or not. Early on my favourites list was hovering around 50, with listings and sales fairly balanced. Now it's at 235. Been very cathartic in a way to see things slowing through this, rather than pushing back what media sources or other people boast. Lots of relisting trickery going on too.

Experts say Lee is not alone. One of Britain's biggest mortgage brokers, John Charcol, has seen the number of so-called down valuations — where a lender values a property at less than a buyer believes it is worth — double over the past year. Nick Morrey, product technical manager at the firm, says that staff are dealing with 20 to 30 cases of down valuations each month, with lenders stating that houses are worth up to £100,000 less than their owners believed. And so it begins...