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About Barnsey
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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?
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Nationwide Aug 18 out Friday 31st morning
Barnsey replied to rantnrave's topic in House prices and the economy
Largest monthly drop since July 2012 ? -
Countdown to leveraged BTL going bust thread
Barnsey replied to jiltedjen's topic in House prices and the economy
+ 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
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What/who will collapse first in 2018
Barnsey replied to TheCountOfNowhere's topic in House prices and the economy
If anyone has any purchases to return to House of Fraser I'd recommend doing so at doors open tomorrow morning... -
Residents consider legal challenge against Taylor Wimpey
Barnsey replied to NoGo's topic in House prices and the economy
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. -
London House prices are being battered !!!
Barnsey replied to TheCountOfNowhere's topic in House prices and the economy
Only a 10% fall over 3 years, oh well might as well give up now -
Deflationary collapse and the Reflation Cycle to Come.
Barnsey replied to durhamborn's topic in House prices and the economy
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/# -
Deflationary collapse and the Reflation Cycle to Come.
Barnsey replied to durhamborn's topic in House prices and the economy
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"
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Most meaningless HPI indicator: Rightmove
Barnsey replied to a topic in House prices and the economy
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. -
Most meaningless HPI indicator: Rightmove
Barnsey replied to a topic in House prices and the economy
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. -
Price falls - bad news for Help To Buy equity loans
Barnsey replied to Mapatasy's topic in House prices and the economy
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...